Indian Market Outlook:

The Key benchmark indices rose over 2% over the week led by rally in financial stocks. Financials rallied as the Federal Reserve of the United States of America announced a policy shift that will keep interest rates low. The Fed will seek to achieve inflation averaging 2% over time. Nifty ended the week 2.43 percent higher at 11647 points while Sensex ended 2.69 percent higher at 39467 points. The small cap and midcap indices led the market optimism, making the rally more broad-based, which was aided by huge FPI inflows. BSE Midcap index ended 1.90 percent higher, while the BSE Small cap index rose 2.5 percent, during the course of the week. Foreign Institutional Investors were the net buyers during the week; bought equities worth Rs.5450 crore while the DIIs were the net sellers of Rs.3056 crore. Bank Nifty ended 9.97 percent higher this week. Within large-caps, banks have been doing well for the past 5-6 sessions and we could soon see a shift in attention to some other sector. Going forward, in the coming week, investors would keep an eye on US PMI data along with Non-farm payroll data. On the domestic front, the most important Q1 GDP data, infrastructure output and PMI data along with monthly auto numbers would provide further direction to the market. Gross domestic product is expected to contract by 19.2% in April-June 2020, according to the median estimate of 15 economists polled by Bloomberg.

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Latest Spot Price (in US $)

Precious Metal Current Price Change (%) 3 Month 6 Month       1 Year
Gold 1,973.00 1.30 11.74 24.38 25.25
Silver 27.59 2.60 49.14 126.71 47.70
Platinum 941.05 1.59 7.78 58.11 4.35
USD/INR 73.11 -2.42 -3.29 0.32 1.80
Crude 42.96 1.56 21.05 -8.11 -22.98

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Global Weekly Events

Date Region Event Description Forecast Previous
Aug 31,2020 CNY Manufacturing PMI (Aug) 51.2 51.1
Aug 31,2020 INR GDP Quarterly (YoY) (Q1) -18.3% 3.1%
Sep 01,2020 USD ISM Manufacturing PMI (Aug) 54.5 54.2
Sep 01,2020 INR Nikkei Markit Manufacturing PMI 48.2 46.0
Sep 03,2020 INR Nikkei Services PMI (Aug) 39.2 34.2

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(28th August) Change %Change
BSE Sensex           39,467.31 1,032.59 2.69
Nifty 11,647.60 276.00 2.43
Mid Cap 15,238.14 284.19 1.90
Small Cap 14,990.55 365.36 2.50
Bank Nifty 24,523.80 2,224.20 9.97

 

Global Indices Closing(28th August) Change %Change
Dow Jones 28,653.87 723.54 2.59
Nasdaq 11,695.63 383.83 3.39
FTSE 5,963.57 -38.32 -0.64
Nikkei 22,882.65 -37.65 -0.16
Hang Seng 25,422.06 308.22 1.23
Shanghai Com 3,403.81 23.13 0.68

 

Net Inflow (Cr) FII DII
24-Aug-2020 219.07 -335.64
25-Aug-2020 1,481.20 -172.97
26-Aug-2020 1,581.31 -1,194.62
27-Aug-2020 1,164.32 -809.27
28-Aug-2020 1,004.11 -543.56
Total 5450.01 -3056.06

 

Top Gainers Closing Price Prev Close Chg (%)
Indusind Bank 665.65 513.55 29.62
Tata Motors 142.80 120.90 18.11
Axis Bank 509.20 440.45   15.61
SBI 224.85 198.40 13.33
Zee Ent. 213.85     192.05 11.35

 

Top Losers Closing Price Prev Close Chg (%)
Eicher Motors 2213.60 21702.40 -89.80
NTPC 101.55 105.95 -4.15
Power Grid 182.30 189.10 -3.60
Yes Bank 15.00 15.55 -3.54
Ultratech Cement 4062.55 4187.80 -2.99

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Economic News:

  • The supply and demand of all non-essential goods and services was at a near halt during the lockdown in April and parts of May. As a result, gross domestic product is expected to contract by 19.2% in April-June 2020, according to the median estimate of 15 economists polled by Bloomberg. Gross value added growth is expected to see an even sharper contraction of 19.8%, according to a poll of 13 economists. The 3% economic growth estimate for January-March is also likely to see a downward revision.

 

  • Sowing of kharif crops touched an all-time high area of 108.22 million hectares during the week ended August 28, raising hopes of a bumper harvest in excess of 149 million tonnes during the season. The last all-time high kharif acreage was in the kharif season of 2016, at 107.57 million hectares. A good kharif output could help tame overall retail inflation within the Reserve bank of India’s threshold band of 2-6 per cent in the months to come. Retail inflation since April has been hovering at 7 per cent largely due to high food prices.

Industry News:

  • Capacity utilisation for road transporters in August has improved to more than 60%, as economic activity gathered pace and commercial vehicle traffic on highways reached 80-90% of the pre-Covid times. Transportation of goods such as agricultural produce, FMCG, pharmaceuticals, iron ore and ecommerce consignments aided the upwards trend. Demand to carry automobile components, two-wheelers, cement and steel is also gradually improving.

 

  • The Reserve Bank is unlikely to extend the moratorium on repayment of bank loans beyond August 31 as an extension could impact the credit behaviour of borrowers without resolving the issues being faced by them following the outbreak of the Covid-19, sources said. The RBI had announced a moratorium on repayment of debt for six months beginning March 1, 2020 to help businesses and individuals tide over the financial problems on account of disruption in normal business activities. The six-month moratorium period comes to an end on August 31.

 Company News:

  • ITC on Friday said it is considering merger of its three wholly-owned subsidiaries – Sunrise Foods, Hobbits International Foods and Sunrise Sheetgrah – with itself. A board meeting of the company has been convened for this on September 4, 2020, ITC informed in a regulatory filing.

 

  • Kishore Biyani-led Future Enterprises Ltd (FEL) has rescheduled its board meeting to September 7. The company’s board members were earlier scheduled to meet on Friday to approve its annual accounts for the fiscal year ending March 2020. FEL, which is set to ink a deal with Mukesh Ambani-led Reliance Industries Ltd (RIL) to sell its retail business, was expected to give its final nod for the same at its board meeting on Saturday (August 28). Meanwhile, the board meeting is being deferred due to the non-completion of the financial results’ audit process.

 

  • The Banks Board Bureau (BBB) on August 28 recommended Dinesh Kumar Khara for the vacancy of Chairman of the State Bank of India (SBI). This means current SBI chief Rajnish Kumar, whose three-year term is set to end on October 7, is not likely to get an extension. He took charge as SBI Chairman in October, 2017.

 

  • The investor consortium of Abu Dhabi Investment Authority (ADIA), Canada’s Public Sector Pension (PSP) Investments and India’s National Investment & Infrastructure Fund (NIIF) has put key lenders and vice-chairman of GVK NSE -3.21 % Group on notice. The investors sent a legal notice on August 27 through their lawyer, AZB & Partners, stating that the sale of Mumbai International Airport (MIAL) to the Adani Group will be a “breach” of GVK’s contract with them.

Global News:

  • The United States plans high-level talks with “Quad” security partners from India, Australia and Japan in September and October, President Donald Trump’s national security adviser said on Friday, while criticizing “very aggressive” behavior by China.

 

  • The investor consortium of Abu Dhabi Investment Authority (ADIA), Canada’s Public Sector Pension (PSP) Investments and India’s National Investment & Infrastructure Fund (NIIF) has put key lenders and vice-chairman of GVK NSE -3.21 % Group on notice. The investors sent a legal notice on August 27 through their lawyer, AZB & Partners, stating that the sale of Mumbai International Airport (MIAL) to the Adani Group will be a “breach” of GVK’s contract with them.

 (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
CARERATING 31-Aug-20 Final Dividend – Rs. – 2.50 TVTODAY 2-Sep-20 Dividend – Rs. – 2.25
MORGANITE 31-Aug-20 Stock  Split From Rs.10/- to Rs.5/- CENTUM 3-Sep-20 Final Dividend – Rs. – 2.50
PAISALO 31-Aug-20 Final Dividend – Rs. – 1.00 CREST 3-Sep-20 Final Dividend – Rs. – 0.50
PANAMAPET 31-Aug-20 Final Dividend – Rs. – 1.20 EMMBI 3-Sep-20 Final Dividend – Rs. – 0.40
SMLT 31-Aug-20 Final Dividend – Rs. – 0.50 GOLKUNDIA 3-Sep-20 Final Dividend – Rs. – 1.00
VINYLINDIA 31-Aug-20 Dividend – Rs. – 2.40 GRSE 3-Sep-20 Final Dividend – Rs. – 1.40
ASTRAMICRO 1-Sep-20 Final Dividend – Rs. – 1.20 HINDALCO 3-Sep-20 Final Dividend – Rs. – 1.00
EVERESTO 1-Sep-20 Final Dividend – Rs. – 1.00 HKG 3-Sep-20 Stock  Split From Rs.10/- to Rs.2/-
JAYBARMARU 1-Sep-20 Dividend – Rs. – 1.25 MANALIPETC 3-Sep-20 Dividend – Rs. – 0.75
KAKATCEM 1-Sep-20 Final Dividend – Rs. – 3.00 PILANIINVS 3-Sep-20 Dividend – Rs. – 25.00
MITSU 1-Sep-20 Dividend – Rs. – 0.20 PNBGILTS 3-Sep-20 Final Dividend – Rs. – 3.00
NIITLTD 1-Sep-20 Final Dividend – Rs. – 2.00 PTL 3-Sep-20 Interim Dividend – Rs. – 2.50
SAGCEM 1-Sep-20 Dividend – Rs. – 2.50 SIKA 3-Sep-20 Final Dividend – Rs. – 1.10
SGRL 1-Sep-20 Final Dividend – Rs. – 1.50 SOLARINDS 3-Sep-20 Final Dividend – Rs. – 6.00
SWELECTES 1-Sep-20 Final Dividend – Rs. – 0.75 SURYAROSNI 3-Sep-20 Dividend – Rs. – 2.00
ACRYSIL 2-Sep-20 Final Dividend – Rs. – 1.20 TTKHEALTH 3-Sep-20 Final Dividend – Rs. – 3.00
DOLAT 2-Sep-20 Interim Dividend – Rs. – 0.15 UJJIVAN 3-Sep-20 Dividend – Rs. – 0.80
GEPIL 2-Sep-20 Dividend – Rs. – 2.00 YUG 3-Sep-20 Final Dividend – Rs. – 1.40
POWERGRID 2-Sep-20 Final Dividend – Rs. – 4.04 MANGCHEFER 4-Sep-20 Dividend – Rs. – 0.50
RUBFILA 2-Sep-20 Dividend – Rs. – 1.20 SHALBY 4-Sep-20 Final Dividend – Rs. – 0.50
SUMICHEM 2-Sep-20 Final Dividend – Rs. – 0.55 ZUARIGLOB 4-Sep-20 Dividend – Rs. – 1.00
TNPETRO 2-Sep-20 Final Dividend – Rs. – 1.50

Source: BSE, Elite wealth Research

Upcoming Board Meetings

Symbol Purpose    BM Date Symbol Purpose  BM Date
8KMILES Quarterly Results 31-Aug-20 IPCALAB General;Preferential Issue of shares 2-Sep-20
AMARNATH A.G.M.;General 31-Aug-20 JSGLEASING Quarterly Results 2-Sep-20
ANJANIFOODS A.G.M.;General;Quarterly Results 31-Aug-20 JUBLFOOD Quarterly Results 2-Sep-20
ANMOL A.G.M.;General 31-Aug-20 KABRADG General 2-Sep-20
ARVIND Quarterly Results 31-Aug-20 MEGFI A.G.M.;Quarterly Results 2-Sep-20
AUROLAB A.G.M.;General;Quarterly Results 31-Aug-20 PFLINFOTC A.G.M.;Quarterly Results 2-Sep-20
BDL Quarterly Results 31-Aug-20 SAMINDUS A.G.M.;General 2-Sep-20
BETXIND General 31-Aug-20 SANDUMA Quarterly Results 2-Sep-20
BHARTIA Quarterly Results 31-Aug-20 SATIN General;Quarterly Results 2-Sep-20
BIRLAPREC ESOP; Preferential Issue of shares 31-Aug-20 SURJIND A.G.M.;General;Quarterly Results 2-Sep-20
BPL A.G.M.;General;Quarterly Results 31-Aug-20 TGBHOTELS General;Quarterly Results 2-Sep-20
DML A.G.M.;General 31-Aug-20 ULTRACAB A.G.M.;Quarterly Results 2-Sep-20
DREDGECORP Quarterly Results 31-Aug-20 UNIAUTO General 2-Sep-20
DYNAMATECH Quarterly Results 31-Aug-20 URJAGLOBA A.G.M.;General 2-Sep-20
GNFC Quarterly Results 31-Aug-20 ASHRAM General 3-Sep-20
HPCBL A.G.M.;General 31-Aug-20 AVL A.G.M.;Final Dividend;General 3-Sep-20
IFSL Quarterly Results 31-Aug-20 EMMBI Quarterly Results 3-Sep-20
INANI Quarterly Results 31-Aug-20 ESSARSHPNG Quarterly Results 3-Sep-20
INDOSOLAR Quarterly Results 31-Aug-20 FUTURSEC Quarterly Results 3-Sep-20
JAICORPLTD Quarterly Results 31-Aug-20 INDBANK General;Quarterly Results 3-Sep-20
JINDALPOLY Quarterly Results 31-Aug-20 INDBNK Quarterly Results 3-Sep-20
JKCEMENT Quarterly Results 31-Aug-20 JUBLINDS Quarterly Results 3-Sep-20
KPIGLOBAL A.G.M.;General 31-Aug-20 MSTC Quarterly Results 3-Sep-20
MANOMAY A.G.M.;General 31-Aug-20 NATIONSTD Quarterly Results 3-Sep-20
MOREPENLAB Quarterly Results 31-Aug-20 PAGEIND Quarterly Results 3-Sep-20
NATHIND Quarterly Results 31-Aug-20 PANACEABIO Quarterly Results 3-Sep-20
NHPC Quarterly Results 31-Aug-20 SOFTBPO Quarterly Results 3-Sep-20
PANCHSHEEL A.G.M.;General;Quarterly Results 31-Aug-20 ZUARI Quarterly Results 3-Sep-20
PHOENIXTN Quarterly Results 31-Aug-20 BLIL Quarterly Results 4-Sep-20
RCIIND Audited Results 31-Aug-20 GBGLOBAL Quarterly Results 4-Sep-20
SPECIALITY Quarterly Results 31-Aug-20 JUBILANT Quarterly Results 4-Sep-20
SRF General 31-Aug-20 NATIONALUM General;Quarterly Results 4-Sep-20
WELCORP General 31-Aug-20 NEERAJ A.G.M.;Quarterly Results 4-Sep-20
COASTCORP Quarterly Results 1-Sep-20 RAINBOWF Quarterly Results 4-Sep-20
GUJAPOLLO A.G.M.;General 1-Sep-20 ZSWASTSA Quarterly Results 4-Sep-20
KOVAI Quarterly Results 1-Sep-20 GOGIACAP A.G.M.;General 5-Sep-20
MAXHEALTH General 1-Sep-20 JSTL A.G.M.;General;Quarterly Results 5-Sep-20
ONGC General;Quarterly Results 1-Sep-20 MALTC Quarterly Results 5-Sep-20
SUPREME Quarterly Results 1-Sep-20 MIDWEST A.G.M.;Quarterly Results 5-Sep-20
TANLA A.G.M.;Interim Dividend 1-Sep-20 MMWL Quarterly Results 5-Sep-20
CFL Quarterly Results 2-Sep-20 RITCO A.G.M.;General 5-Sep-20
COALINDIA Quarterly Results 2-Sep-20 RJKMRFR Quarterly Results 5-Sep-20
DISHTV Quarterly Results 2-Sep-20 RKFORGE* Quarterly Results 5-Sep-20
DVL Quarterly Results 2-Sep-20 SHALBY Quarterly Results 5-Sep-20
ECOM Quarterly Results 2-Sep-20 SML A.G.M.;General 5-Sep-20
INFIBEAM Quarterly Results 2-Sep-20 SOFCOM A.G.M.;Quarterly Results 5-Sep-20
INTCAPM General 2-Sep-20 SOVERDIA Quarterly Results 5-Sep-20

Source: BSE, Elite wealth Research 

Major Economy Indicators

Major-Economy-Indicators

Major-Economy-Indicators-2

 

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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