Indian Market Outlook:

The Key benchmark indices rose over 1% over the week. Market sentiment has remained strong on the back of expectations of normalcy of demand returning by H2FY21 and positive news flow around the development of a possible vaccine against COVID -19. Nifty ended the week 1.73 percent higher at 11371 points while Sensex ended 1.73 percent higher at 38434 points. The Broader market outperformed the benchmark indices. The BSE Midcap index ended 3.61 percent higher, while the BSE Small cap index rose 5.56 percent, during the course of the week. Foreign Institutional Investors were the net buyers during the week; bought equities worth Rs.2168.18 crore while the DIIs were the net sellers of Rs.2117.01 crore. Minutes of the Monetary Policy Committee (MPC) meeting were released this week. The minutes highlighted that concerns on inflation prompted the MPC to keep the repo rate unchanged, even as growth remained considerably weak. However, it was acknowledged that there was room to cut rates further, which would be used judiciously. Going forward markets could be range-bound but the arrival of vaccination is more likely to significantly improve the market sentiments further. The biggest risk to equity markets is still the economic recovery and the hurdles to it. The U.S. presidential elections there are just 73 days away, markets across the globe will hold on to the important signals emanating from the presidential campaigns.

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Latest Spot Price (in US $)

Precious Metal Current Price Change (%) 3 Month 6 Month       1 Year
Gold 1,947.60 -0.31 9.50 22.78 34.12
Silver 26.89 1.36 57.53 54.19 62.48
Platinum 926.30 -3.59 12.76 6.11 9.05
USD/INR 74.92 0.03 -1.20 5.02 8.82
Crude 42.30 -0.31 43.73 -19.21 -25.50

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Global Weekly Events

Date Region Event Description Forecast Previous
Aug 25,2020 USD New Home Sales (Jul) 786K 776k
Aug 26,2020 USD Crude Oil Inventories -1.632M
Aug 27,2020 USD GDP (QoQ) (Q2) -32.6% -32.9%
Aug 28,2020 INR Bank Loan Growth 5.5%
Aug 28,2020 USD FX Reserves, USD 535.25B

Domestic Economy Indicators

Heading Indicators Current Previous
 RBI Policy Rate Policy Repo Rate 4.00% 4.00%
Reserve Policy Rate 3.25% 3.25%
  Bank Rate 4.25% 4.25%
 Reserve Ratio CRR 3% 3%
SLR 18.00% 18.00%
 Inflation Rate Wholesale Price Index -0.58% -1.81%
  Consumer Price Index 6.93% 6.23%
 Trade Data Export ($ Million) 23640 21910
Import($ Million) 28470 21110
 Industry IIP -16.6% -34%

 

Domestic Indices Closing(21st August) Change %Change
BSE Sensex           38,434.72 557.38 1.47
Nifty 11,371.60 193.20 1.73
Mid Cap 14,953.95 520.37 3.61
Small Cap 14,625.19 770.01 5.56
Bank Nifty 22,299.60 620.20 2.86

 

Global Indices Closing(21st August) Change %Change
Dow Jones 27,930.33 -0.69 0.00
Nasdaq 11,311.80 292.50 2.65
FTSE 6,001.89 -88.15 -1.45
Nikkei 22,920.30 -369.06 -1.58
Hang Seng 25,113.84 -69.17 -0.27
Shanghai Com 3,380.68 20.58 0.61

 

Net Inflow (Cr) FII DII
17-Aug-2020 332.9 -717.62
18-Aug-2020 1,134.57 -379.38
19-Aug-2020 459.01 -97.13
20-Aug-2020 -268.46 -672.23
21-Aug-2020 410.16 -250.65
Total 2068.18 -2117.01

 

Top Gainers Closing Price Prev Close Chg (%)
NTPC 105.95 88.40 19.85
Zee Ent. 192.05 161.20 19.14
Asian Paints 1958.00 1802.55     8.62
Hero MotoCorp 3033.45 2803.80   8.19
Power Grid 189.10     175.40   7.81

 

Top Losers Closing Price Prev Close Chg (%)
Tata Motors 120.90 124.60 -2.97
Bharti Airtel 520.25 528.60 -1.58
Reliance Ind. 2081.85 2113.80 -1.51
Cipla 760.75 771.80 -1.43
Wipro Ltd. 273.35 276.50 -1.14

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Economic News:

  • Total area under coverage so far during this kharif (summer sown) season has risen 9% to 1,062.93 lakh hectares on better monsoon, the agriculture ministry said on Friday. As on Aug. 21, total kharif crops have been sown on 1,062.93 lakh hectare area, against 979.15 lakh hectare area during the corresponding period of last year. “There is no impact of Covid-19 on progress of area coverage under kharif crops as on date.

 

  • An outgoing member of India’s monetary policy committee raised concerns over the inflation data released by the government statistical office for the months when the country was under a lockdown. The data, according to Ravindra Dholakia, was contrary to other indicators which suggest a fall in inflation rather than the rise suggested by the data released by the statistical office. Data released by the Ministry of Statistics and Programme Implementation showed that inflation was at 7.22% in April, 6.27% in May, 6.23% in June and 6.93% in July. For April and May, imputed inflation data was released.

  Industry News:

  • The pandemic has brought about a change in the way Indians consume alcohol, and liquor companies are trying to adapt to the trend to boost their beaten down sales. Amid worries over income losses and price hikes of their favourite brands, tipplers are increasingly swigging liquor from affordable, hip-flask-size packs instead of full-size bottles. Shuttered bars and restrictions on social gatherings are affecting demand for large bottles, and for consumption at home, consumers are buying smaller packs.

 

  • The Supreme Court said phone companies that have used the spectrum of ailing ones such as Reliance Communications, Aircel and Videocon would have to pay their adjusted gross revenue (AGR) dues. The apex court also asked the Department of Telecommunications (DoT) to provide information on which companies had been using airwaves since the day they got them and their AGR dues to fix responsibility for payment on those who had “traded” or “shared” spectrum.

Company News:

  • Punjab National Bank (PNB) on Friday reported a standalone net profit of Rs 308 crore for the quarter ended June even as provisions for bad loans doubled. The country’s second largest lender had posted a net profit of Rs 1,018.63 crore during the corresponding April-June period of 2019-20. On the assets front, the lender’s gross non-performing assets (NPAs) fell to 14.11 per cent of gross advances at the end of June 2020, as against 16.49 per cent at the end of June 2019. Net NPAs declined to 5.39 per cent as against 7.17 per cent earlier.

 

  • ICICI Lombard General Insurance Co. Ltd. will acquire Bharti AXA General Insurance Co. Ltd.’s non-life insurance operations in a share swap deal, according to a company statement issued on Saturday. Shareholders of Bharti AXA will receive two shares of ICICI Lombard for every 115 shares of Bharti AXA, as per the share exchange ratio recommended by independent valuers. The companies, however, did not disclose the deal value. Bharti Enterprises currently owns 51% stake in Bharti AXA General Insurance, while French insurer AXA has 49%.

 

  • The Appointments Committee of the Cabinet has apprived the appointment of Ashwani Bhatia as the new Managing Director of State Bank of India. He currently is the Deputy Managing Director of the state-run lender. Bhatia will succeed PK Gupta who superannuated on March 31. He will remain in office till the date of his superannuation, May 31, 2022, or further orders, whichever is earlier, the government said in a statement on Friday. Necessary communication in this regard has been sent to the Department of Financial Services.

Global News:

  • S. sales of previously owned homes surged by the most on record in July as lower mortgage rates continued to power a residential real estate market that’s proving a key source of strength for the economic recovery. Closing transactions increased 24.7% from the prior month to a 5.86 million annualized rate, the strongest pace since the end of 2006 and reflecting broad gains across the U.S., according to National Association of Realtors data issued Friday.

 

  • The euro-area economy unexpectedly lost momentum this month after a resurgence of coronavirus cases forced new restrictions, highlighting the challenge of rekindling growth while the pandemic remains untamed. In a report published Friday, IHS Markit said its composite measure of private-sector activity dropped to 51.6 in August from 54.9 in July.

 (Source: Bloomberg Quint, Economic Times, Business Today, Business Standard, Financial Express, Investing, Moneycontrol, livemint)

Forthcoming Corporate Actions

Security Name Ex-Date Purpose Security Name      Ex-Date Purpose
DOLLAR 24-Aug-20 Dividend – Rs. – 1.70 DUTRON 27-Aug-20 Final Dividend – Rs. – 1.20
EICHERMOT 24-Aug-20 Stock  Split From Rs.10/- to Rs.1/- ECOPLAST 27-Aug-20 Final Dividend – Rs. – 1.50
IRBINVIT 24-Aug-20 Income Distribution (InvIT) GREENPLY 27-Aug-20 Final Dividend – Rs. – 0.40
SHIL 24-Aug-20 Dividend – Rs. – 0.15 HESTERBIO 27-Aug-20 Dividend – Rs. – 6.60
BANARISUG 25-Aug-20 Dividend – Rs. – 10.00 ISHANCH 27-Aug-20 Final Dividend – Rs. – 1.00
POLYPLEX* 25-Aug-20 Interim Dividend – Rs. – 32.00 KCP 27-Aug-20 Dividend – Rs. – 0.15
POLYPLEX* 25-Aug-20 Dividend – Rs. – 6.00 MUNJALSHOW 27-Aug-20 Final Dividend – Rs. – 4.50
BIMETAL 26-Aug-20 Dividend – Rs. – 7.00 OBCL 27-Aug-20 Dividend – Rs. – 0.50
BRITANNIA 26-Aug-20 Interim Dividend – Rs. – 83.00 PFIZER 27-Aug-20 Final Dividend – Rs. – 10.00
GRASIM 26-Aug-20 Final Dividend – Rs. – 4.00 STRTECH* 27-Aug-20 Final Dividend – Rs. – 3.50
IIFLWAM 26-Aug-20 Interim Dividend – Rs. – 40.00 SUPERSHAKT 27-Aug-20 Dividend – Rs. – 0.50
KANPRPLA 26-Aug-20 Final Dividend – Rs. – 0.60 TRIVENI 27-Aug-20 Buy Back of Shares
ADSL 27-Aug-20 Final Dividend – Rs. – 0.50 ABBOTINDIA 28-Aug-20 Final Dividend – Rs. – 107.00
ALFREDHE 27-Aug-20 Dividend – Rs. – 2.50 ABBOTINDIA 28-Aug-20 Special Dividend – Rs. – 143.00
ALFREDHE 27-Aug-20 Special Dividend – Rs. – 1.00 CORALFINAC 28-Aug-20 Final Dividend – Rs. – 0.20
ASALCBR 27-Aug-20 Final Dividend – Rs. – 1.00 JOSTS 28-Aug-20 Final Dividend – Rs. – 3.00
BOMOXY-B1 27-Aug-20 Final Dividend – Rs. – 10.00 SOLIMAC 28-Aug-20 Final Dividend – Rs. – 0.7500
DIAMINESQ 27-Aug-20 Final Dividend – Rs. – 4.00 STHINPA 28-Aug-20 Final Dividend – Rs. – 1.50

Source: BSE, Elite wealth Research

Upcoming Board Meetings

Symbol Purpose    BM Date Symbol Purpose  BM Date
INDRAMEDCO Quarterly Results 24-Aug-20 GILLETTE Final Dividend;Audited Results 26-Aug-20
INGERRAND Quarterly Results 24-Aug-20 GMDCLTD Quarterly Results 26-Aug-20
IRB Quarterly Results 24-Aug-20 HNDFDS Quarterly Results 26-Aug-20
NOCIL Quarterly Results 24-Aug-20 IFSL Quarterly Results 26-Aug-20
NORRIS Quarterly Results 24-Aug-20 IGL Quarterly Results 26-Aug-20
ONWARDTEC General 24-Aug-20 NACLIND Quarterly Results 26-Aug-20
SAKTHIFIN General 24-Aug-20 SHKALYN A.G.M.;General;Quarterly Results 26-Aug-20
SANGUI A.G.M.;General;Quarterly Results 24-Aug-20 TIJARIA Quarterly Results 26-Aug-20
SCHABLON Quarterly Results 24-Aug-20 UNISTRMU Quarterly Results 26-Aug-20
SCOOTER Quarterly Results 24-Aug-20 AXITA A.G.M.;General 27-Aug-20
SHRAJSYNQ Quarterly Results 24-Aug-20 BFLAFL A.G.M.;General;Quarterly Results 27-Aug-20
SUZLON Quarterly Results;General 24-Aug-20 BLKASHYAP Quarterly Results 27-Aug-20
TARAI A.G.M.;General 24-Aug-20 EDELWEISS Quarterly Results 27-Aug-20
TITANBIO A.G.M.;General 24-Aug-20 EIS A.G.M.;General 27-Aug-20
TITANSEC A.G.M.;General 24-Aug-20 GMRINFRA Quarterly Results 27-Aug-20
TYCHE General 24-Aug-20 ICRA Quarterly Results 27-Aug-20
AHLWEST Quarterly Results 25-Aug-20 IDFC Quarterly Results 27-Aug-20
ANJANI A.G.M.;General;Quarterly Results 25-Aug-20 INDOCITY A.G.M.;General;Quarterly Results 27-Aug-20
CANFINHOME Quarterly Results 25-Aug-20 JIKIND General;Quarterly Results 27-Aug-20
CAPFIN General 25-Aug-20 MAHAPEXLTD General 27-Aug-20
CCHHL General 25-Aug-20 NMDC Quarterly Results 27-Aug-20
CHOKSILA Quarterly Results 25-Aug-20 SCBL A.G.M.;General;Quarterly Results 27-Aug-20
CITL Quarterly Results 25-Aug-20 SHAKTIPUMP General 27-Aug-20
COUNCODOS General 25-Aug-20 TPLPLAST A.G.M.;Quarterly Results 27-Aug-20
GTL Quarterly Results 25-Aug-20 ARCHIDPLY Quarterly Results 28-Aug-20
IPOWER A.G.M.;General 25-Aug-20 ARCHIES Quarterly Results;A.G.M. 28-Aug-20
IRCON Quarterly Results 25-Aug-20 CANTABIL A.G.M.;Final Dividend 28-Aug-20
ISHWATR Quarterly Results;General 25-Aug-20 ESARIND A.G.M.;General;Quarterly Results 28-Aug-20
JAYSYN A.G.M.;General 25-Aug-20 FILATEX Quarterly Results 28-Aug-20
NATPEROX Quarterly Results 25-Aug-20 FLUIDOM Quarterly Results 28-Aug-20
NATURAL A.G.M.;General;Quarterly Results 25-Aug-20 IITL Quarterly Results 28-Aug-20
PGHH Final Dividend;Audited Results 25-Aug-20 KILITCH A.G.M.;General 28-Aug-20
RUCHIRA Quarterly Results 25-Aug-20 KOHINOOR Audited Results;Dividend 28-Aug-20
SAWABUSI General 25-Aug-20 MKEL A.G.M.;Quarterly Results 28-Aug-20
SCANPGEOM Right Issue;Quarterly Results 25-Aug-20 NETTLINX A.G.M.;General 28-Aug-20
SGL A.G.M.;General;Quarterly Results 25-Aug-20 NICCOPAR Quarterly Results 28-Aug-20
SGNTE Quarterly Results 25-Aug-20 PARLEIND A.G.M.;General 28-Aug-20
SHAMROIN General;Quarterly Results 25-Aug-20 RICOAUTO Quarterly Results 28-Aug-20
SHANTAI General 25-Aug-20 SYSTMTXC Quarterly Results 28-Aug-20
UTTAMVALUE A.G.M.;General 25-Aug-20 TALBROAUTO Quarterly Results 28-Aug-20
VENLONENT A.G.M.;General 25-Aug-20 ARMANFIN Quarterly Results;General 29-Aug-20
WABAG Preferential Issue of shares 25-Aug-20 INDIANHUME Quarterly Results 29-Aug-20
AGARIND General;Quarterly Results 26-Aug-20 INDOSOLAR Quarterly Results 29-Aug-20
CUPID A.G.M.;General;Quarterly Results 26-Aug-20 INDRANIB Results;Increase in Authorised Capital 29-Aug-20
DCM Quarterly Results 26-Aug-20 SUPERSPIN Quarterly Results;General 29-Aug-20
DOLAT Quarterly Results;Interim Dividend 26-Aug-20 WOCKPHARMA Quarterly Results 29-Aug-20

Source: BSE, Elite wealth Research 

Major Economy Indicators

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DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014

Elite Wealth Advisors Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Advisors Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as read more


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