Indian Market Outlook:

The Key benchmark indices rose over 2% over the week. This is the sixth consecutive week that Nifty is closing with gains. The rally in the index is being supported by positive development on the vaccine front and participation from some of the heavyweights from oil & gas and IT sectors. Nifty ended the week 2.68 percent higher at 11194 points while Sensex ended 3 percent higher at 38128 points. The BSE Midcap index ended 1.27 percent higher, while the BSE Small cap index rose 1.44 percent, during the course of the week. Foreign Institutional Investors were the net buyers during the week; bought equities worth Rs.7791.80 crore while the DIIs were the net sellers of Rs 5323 crore. The bank nifty index has outperformed the benchmark index in the week gone by, rose 3.17 percent. Going forward, Next week, many market heavyweights including Reliance Industries will announce their earnings. We would advise investors to continue with their defensive portfolio approach given the high valuations and maintain stock specific action. On the global front, US Senate Republicans are expected to unveil their proposal for a fresh round of coronavirus aid. Also, Fed policy makers will meet next week, although expectations are low for any surprises. Nifty 50 Earnings to watch next week are Kotak Mahindra Bank, Tech Mahindra, Maruti Suzuki, HDFC Ltd., Nestle India, Ultratech Cement, Bharti Airtel, Dr. Reddy, Reliance Industries and IOC.

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Latest Spot Price (in US $)

Precious Metal Current Price Change (%) 3 Month 6 Month       1 Year
Gold 1,899.95 4.85 10.22 19.53 30.84
Silver 22.99 16.46 50.85 27.94 38.91
Platinum 955.35 12.28 21.48 -1.40 12.47
USD/INR 74.76 -0.19 -2.36 5.24 8.58
Crude 41.34 1.85 223.47 -30.25 -27.19

 

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Global Weekly Events

Date Region Event Description Forecast Previous
Jul 29,2020 USD Pending Home Sales (MoM) (Jun) 15.3% 44.3%
Jul 29,2020 USD Crude Oil Inventories -2.088M 4.892M
Jul 30,2020 USD GDP (QoQ) (Q2) -34.0% -5.0%
Jul 31,2020 CNY Manufacturing PMI (Jul) 51.0 50.9
Jul 31,2020 INR Infrastructure Output (YoY) (Jun) -23.4%

 

Domestic Economy Indicators

Heading Indicators Current Previous
 RBI Policy Rate Policy Repo Rate 4.00% 4.40%
Reserve Policy Rate 3.25% 3.75%
  Bank Rate 4.25% 4.65%
 Reserve Ratio CRR 3% 4%
SLR 18.00% 18.25%
 Inflation Rate Wholesale Price Index -1.81% -3.21%
  Consumer Price Index 6.09% 5.84%
 Trade Data Export ($ Million) 21910 19050
Import($ Million) 21110 22200
 Industry IIP -34.7% -57.6%

 

Domestic Indices Closing(24th July) Change %Change
BSE Sensex           38,128.90 1,108.76 3.00
Nifty 11,194.15 292.45 2.68
Mid Cap 13,702.55 171.80 1.27
Small Cap 12,966.55 184.02 1.44
Bank Nifty 22,662.05 695.25 3.17

 

Global Indices Closing(24th July) Change %Change
Dow Jones 26,469.89 -202.06 -0.76
Nasdaq 10,363.18 -140.01 -1.33
FTSE 6,123.82 -166.48 -2.65
Nikkei 22,751.61 55.19 0.24
Hang Seng 24,705.33 -383.84 -1.53
Shanghai Com 3,196.77 -17.36 -0.54

 

Net Inflow (Cr) FII DII
20-Jul-2020 1,709.97 -1,521.99
21-Jul-2020 2,265.88 -727.39
22-Jul-2020 1,665.57 -1,138.83
23-Jul-2020 1,740.50 -931.91
24-Jul-2020 409.88 -1,002.98
Total 7,791.80 -5,323.10

 

Top Gainers Closing Price Prev Close Chg (%)
Reliance Ind. 2146.15 1911.70 12.26
Power Grid 182.00 163.30 11.45
Eicher Motors 20800.25 18810.80 15.51
HCL Tech 679.95 623.15 9.11
Tech Mahindra 652.60 599.70 8.82

 

Top Losers Closing Price Prev Close Chg (%)
Yes Bank 13.65 19.80 -31.06
Hind. Unilever 2209.30 2334.55 -5.37
Hindalco 156.20 162.15 -3.67
Zee Ent. 151.70 157.40 -3.62
Sun Pharma 485.60 503.60 -3.57

 

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Economic News:

  • A Reserve Bank of India (RBI) stress test on banks indicates that gross non performing asset (GNPA) ratio of all banks may increase from 8.5% in March 2020 to 12.5% by March 2021 due to the sharp slowdown in the economy as a result of the lockdown imposed to fight the Covid 19 pandemic. In its bi annual financial stability report (FSR) released on Friday RBI assumed a contraction of GDP by 4.4%, gross fiscal deficit of 10.9% and consumer price inflation of 4.1% as the base case scenario. Among the bank groups, public sector banks’ GNPA ratio will increase to 15.2% in March 2021 from 11.3% in March 2020 may increase to 15.2 per cent by March 2021 under the baseline scenario.
  • India is working on offering production linked incentives for 4-5 sectors to boost manufacturing in the country, a top finance ministry official said on Thursday. The incentives would be offered to sectors to push manufacturing and help those that have been pushed to the brink, Tarun Bajaj, economic affairs secretary at the Ministry of Finance, told a virtual conference, without providing more detail. The conference was organised by the Federation of Indian Chambers of Commerce and Industry (FICCI).

Industry News:

  • Aviation regulator DGCA has directed Indian airlines to inspect the Boeing B737 aircraft in their fleet after the US aviation regulator FAA issued an emergency directive on this matter on Friday, officials said. Three Indian airlines — SpiceJet, Air India Express and Vistara — have B737 aircraft in their fleet. The emergency directive was “prompted by four single-engine shutdowns” that happened due to compromised air check valves in the engines of the certain B737 aircraft, said the Federal Aviation Administration (FAA) in its emergency directive. The FAA asked the airlines to inspect their B737 aircraft that have not flown for seven days or more and the ones that have operated not more than 10 flights after return to service.
  • The Financing requests of close to Rs 14,000 crore have been received under the Rs 30,000-crore special liquidity scheme for stressed NBFCs and HFCs whose financial health deteriorated further due to the COVID-19 crisis, the finance ministry said on Friday.The scheme was launched on July 1. The Reserve Bank of India (RBI) has provided funds for the scheme by subscribing to government-guaranteed special securities issued by a trust set up by SBI Capital Markets Limited (SBICAP). The scheme is being implemented by SLS Trust, the SPV set up by SBICAP.

Company News:

  • ITC reported a 26 percent year-on-year (YoY) fall in standalone net profit for the quarter ended June 30, 2020, at Rs 2,342.76 crore. The company had reported a net profit of Rs 3,173.94 in the same quarter a year ago. The number came better than the estimates of the market. A CNBC-TV18 poll had estimated the June quarter net profit at Rs 2,220 crore. ITC’s revenue from operations dropped 17.4 percent YoY to Rs 9,501.75 crore in Q1FY21 from Rs 11,502.82 crore in the corresponding quarter a year ago.
  • Ambuja Cement on Friday reported a 10.03 per cent rise in its standalone net profit for the quarter ended June to Rs 453.37 crore, and managed to beat analysts’ expectations. The cement maker had reported a net profit of Rs 412.05 crore in the same quarter a year ago. An ET Now poll had expected the company to report a net profit of Rs 320 crore. Its revenue from operations came in at Rs 2,176.75 crore, compared with 2,983.56 crore a year ago. The company said its net profit rose by 10 per cent on account of dividend income.
  • Zee Entertainment Enterprises (ZEE) has posted a net loss of Rs 765.8 crore for the fourth quarter of the financial year ended March 31, 2020. This is compared to a net profit of Rs 292.5 crore in the corresponding quarter of the previous fiscal. ZEE’s operating revenue for the quarter was down 3.4% to Rs 1,951.1 crore, compared with Rs 2,019.3 crore in the year-ago period, as poor macroeconomic environment and the onset of Covid-19 outbreak resulted in a drop in advertising revenues.

Global News:

  • China’s economy will grow 2.5% this year according to UBS Group AG which raised its forecast from 1.5% due to the recovery in domestic consumption and strong investment. The economy will expand 5.5% this quarter from a year earlier, and 6% in the final three months of 2020, the bank said in a new report from Chief China Economist Wang Tao and others.
  • Japanese exports fell by more than 20% for a third straight month even as key markets started to reopen from virus shutdowns. The value of Japan’s overall shipments overseas slid 26.2% from a year earlier, the finance ministry reported Monday. Economists forecast a 24.7% fall.

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

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Forthcoming Corporate Actions

Security Name Ex-Date Purpose Security Name      Ex-Date Purpose
BAYERCROP 27-Jul-20 Final Dividend – Rs. – 25.00 ULTRACEMCO 29-Jul-20 Final Dividend – Rs. – 13.00
NITTAGELA 27-Jul-20 Dividend – Rs. – 2.50 BALAMINES 30-Jul-20 Final Dividend – Rs. – 0.60
GRANULES 28-Jul-20 Interim Dividend – Rs. – 0.2500 BOMBCYC 30-Jul-20 Final Dividend – Rs. – 5.00
HATSUN 28-Jul-20 Interim Dividend – Rs. – 4.00 CENTENKA 30-Jul-20 Dividend – Rs. – 8.00
HATSUN 28-Jul-20 Special Dividend – Rs. – 4.00 ESSELPRO 30-Jul-20 Final Dividend – Rs. – 2.0500
MAHEPC 28-Jul-20 Dividend – Rs. – 1.20 GABRIEL 30-Jul-20 Final Dividend – Rs. – 0.8500
RBL 28-Jul-20 Final Dividend – Rs. – 11.00 HEROMOTOCO 30-Jul-20 Final Dividend – Rs. – 25.00
SESHAPAPER 28-Jul-20 Special Dividend – Rs. – 0.50 HINDUNILVR 30-Jul-20 Special Dividend – Rs. – 9.50
SESHAPAPER 28-Jul-20 Dividend – Rs. – 3.50 JONJUA 30-Jul-20 Bonus issue 1:43
SOLARA 28-Jul-20 Dividend – Rs. – 2.00 KHAICHEM 30-Jul-20 Dividend – Rs. – 0.20
SPENCER 28-Jul-20 Right Issue of Equity Shares KRITIIND 30-Jul-20 Final Dividend – Rs. – 0.1500
WORL 28-Jul-20 Bonus issue 1:1 KRITINUT 30-Jul-20 Dividend – Rs. – 0.1800
ALEMBICLTD 29-Jul-20 Final Dividend – Rs. – 0.60 KUANTUM 30-Jul-20 Dividend – Rs. – 2.50
BATAINDIA 29-Jul-20 Dividend – Rs. – 4.00 MATRIMONY 30-Jul-20 Final Dividend – Rs. – 1.50
GMBREW 29-Jul-20 Final Dividend – Rs. – 3.00 MATRIMONY 30-Jul-20 Special Dividend – Rs. – 2.00
GPPL 29-Jul-20 Final Dividend – Rs. – 3.50 ORIENTELEC 30-Jul-20 Final Dividend – Rs. – 0.50
MORGANITE 29-Jul-20 Final Dividend – Rs. – 16.00 EIMCOELECO 31-Jul-20 Dividend – Rs. – 5.00
NOVARTIND 29-Jul-20 Final Dividend – Rs. – 10.00

Source: BSE, Elite wealth Research

Upcoming Board Meetings

Symbol Purpose    BM Date Symbol Purpose  BM Date
APLLTD General 27-Jul-20 MARUTI Quarterly Results 29-Jul-20
APOLLOTRI Quarterly Results 27-Jul-20 MMFL Quarterly Results;Audited Results 29-Jul-20
APTECHT Quarterly Results 27-Jul-20 NAVINFLUOR Quarterly Results 29-Jul-20
AVANTEL Quarterly Results 27-Jul-20 SAGCEM Quarterly Results 29-Jul-20
BEL Quarterly Results 27-Jul-20 SIS Quarterly Results 29-Jul-20
ESCORTS Quarterly Results;General 27-Jul-20 SNOWMAN Quarterly Results 29-Jul-20
HAVELLS Quarterly Results 27-Jul-20 TVSMOTOR Quarterly Results 29-Jul-20
INDIACEM Quarterly Results 27-Jul-20 AJANTPHARM Quarterly Results 30-Jul-20
KOTAKBANK Quarterly Results 27-Jul-20 ATLANTA Dividend;Audited Results 30-Jul-20
MARICO Quarterly Results 27-Jul-20 CHOLAFIN Quarterly Results 30-Jul-20
PFIZER Quarterly Results 27-Jul-20 DAAWAT Quarterly Results 30-Jul-20
WELLNESS General 27-Jul-20 DABUR Quarterly Results 30-Jul-20
TECHM Quarterly Results 27-Jul-20 FAIRCHEM Quarterly Results 30-Jul-20
3IINFOTECH Audited Results 28-Jul-20 FRONTCORP Audited Results 30-Jul-20
ABVL Audited Results 28-Jul-20 GCCL Audited Results 30-Jul-20
CASTROLIND Quarterly Results 28-Jul-20 HDFC Quarterly Results 30-Jul-20
ELANTAS Quarterly Results 28-Jul-20 JMFINANCIL Quarterly Results 30-Jul-20
HEXAWARE Dividend;Quarterly Results 28-Jul-20 JSTL Audited Results 30-Jul-20
IDBI Quarterly Results 28-Jul-20 KWALITYCL Audited Results 30-Jul-20
IDFCFIRSTB General;Quarterly Results 28-Jul-20 LAURUSLABS Quarterly Results 30-Jul-20
MUTHTFN Quarterly Results;General 28-Jul-20 MFSL Quarterly Results 30-Jul-20
NESTLEIND Quarterly Results 28-Jul-20 RELIANCE Quarterly Results 30-Jul-20
NIITTECH Quarterly Results 28-Jul-20 RUSHIL Quarterly Results;Final Dividend 30-Jul-20
ORIENTCEM Quarterly Results 28-Jul-20 SHREDIGCEM Quarterly Results 30-Jul-20
RBLBANK Quarterly Results 28-Jul-20 TCPLPACK Quarterly Results 30-Jul-20
SANOFI Quarterly Results 28-Jul-20 TORNTPHARM Quarterly Results 30-Jul-20
SUNTECK Final Dividend;Audited Results 28-Jul-20 VAIBHAVGBL Quarterly Results;Interim Dividend 30-Jul-20
SUPREME Quarterly Results;Audited Results 28-Jul-20 ALKA Audited Results 31-Jul-20
SWASTIKA Quarterly Results 28-Jul-20 AMARJOTHI Quarterly Results;General 31-Jul-20
TATACOFFEE Quarterly Results 28-Jul-20 ANJANIFIN Quarterly Results 31-Jul-20
ULTRACEMCO Quarterly Results 28-Jul-20 ANUBHAV Audited Results 31-Jul-20
WELCORP Quarterly Results 28-Jul-20 CCHHL Audited Results 31-Jul-20
ACCEL Quarterly Results;Audited Results 29-Jul-20 CGCL Quarterly Results 31-Jul-20
BALPHARMA A.G.M.;Audited Results 29-Jul-20 DEEPAKFERT Quarterly Results 31-Jul-20
BENARAS Quarterly Results 29-Jul-20 GOGIACAP Audited Results 31-Jul-20
BHARTIARTL Quarterly Results 29-Jul-20 HFIL Quarterly Results;Audited Results 31-Jul-20
CANBK General 29-Jul-20 HINDBIO Quarterly Results;General 31-Jul-20
CEATLTD Quarterly Results 29-Jul-20 IOC Quarterly Results 31-Jul-20
CHAMBLFERT Quarterly Results 29-Jul-20 IOLCP Quarterly Results 31-Jul-20
COLPAL Quarterly Results 29-Jul-20 JSWENERGY Quarterly Results;General 31-Jul-20
CPML Quarterly Results 29-Jul-20 KHAITANLTD General;Audited Results 31-Jul-20
DENORA Quarterly Results 29-Jul-20 MUL Audited Results 31-Jul-20
DHARSUGAR Audited Results 29-Jul-20 NELCO Quarterly Results 31-Jul-20
DHRUV Audited Results 29-Jul-20 RAGHUNAT Audited Results 31-Jul-20
DRL Quarterly Results;Audited Results 29-Jul-20 RCCL Audited Results 31-Jul-20
DRREDDY Quarterly Results 29-Jul-20 SGRL Final Dividend;General;Audited Results 31-Jul-20
GLAXO Quarterly Results 29-Jul-20 SHREYASI Dividend;Quarterly Results;General 31-Jul-20
GLCL Audited Results 29-Jul-20 STARCOM Quarterly Results;Audited Results 31-Jul-20
GOKEX Quarterly Results 29-Jul-20 TATACHEM Quarterly Results;Audited Results 31-Jul-20
GOLKONDA Quarterly Results 29-Jul-20 TATIAGLOB Audited Results 31-Jul-20
HERITGFOOD Quarterly Results 29-Jul-20 VAKRANGEE Audited Results;Final Dividend 31-Jul-20
INDIGO Quarterly Results 29-Jul-20 VIRINCHI Quarterly Results 31-Jul-20
JKPAPER* Quarterly Results 29-Jul-20 VJTFEDU Quarterly Results;General 31-Jul-20
KKCL Audited Results 29-Jul-20 WAGEND Audited Results 31-Jul-20
LEENEE Quarterly Results 29-Jul-20 ZYDUSWELL Quarterly Results 31-Jul-20
MAHLIFE Quarterly Results 29-Jul-20 VINATIORGA Quarterly Results 1-Aug-20
MANAPPURAM Quarterly Results 29-Jul-20 YASHPAKKA Quarterly Results;General 1-Aug-20

Source: BSE, Elite wealth Research 

Major Economy Indicators

Major-Economy-Indicators-1a-25-07-2020

 

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