Indian Market Outlook:

The Key benchmark indices fell around 7 percent over the week due to massive sell-off in the global markets on growing fears that the coronavirus outbreak could turn into a pandemic and derail growth. Major selling was seen in auto and metal sectors, with the Nifty Auto and the Nifty Metal indices falling 10 percent and 14 percent, respectively this week. In the week ended on Friday, the Sensex fell 2872.83 points or 6.98 % to settle at 38297.29 .The Nifty 50 index fell 879.10 points or 7.28 % to settle at 11201.75. BSE Mid Cap Index fell 1094.39 points or 6.97% to settle at 14600.02 while the BSE small Cap index fell 7.04 % to settle at 13709.01. This week’s fall in the market can be attributed to FIIs, who have been aggressively removing flows out of the country. On the contrary, the surprising fact was that DIIs were net buyers this week till Thursday. FIIs sell equities worth Rs.11.368.67 crore over the week while DIIs were the net buyers of Rs.15985.82 crore. Indian and global equity markets will likely fall further over the next few weeks as the world gets a better idea of the extent and impact of the novel coronavirus. In the forthcoming week SBI Card IPO and RITES OFS will be closely watched. On the Macro front Nikkei Markit Manufacturing PMI (Feb) will be announced on 2nd March, 2020, US will also announce Unemployment rate on 6th March, 2020.

Latest Spot Price (in US $)

Precious Metal Current Price Change (%) 3 Month 6 Month       1 Year
Gold 1,587.15 -3.49 7.77 3.27 18.36
Silver 16.54 -10.74 -2.82 -7.49 3.37
Platinum 866.35 -11.30 -3.52 -7.86 -11.30
USD/INR 72.54 0.92 1.10 1.19 1.88
Crude 45.25 -15.23 -17.98 -20.21 -20.18

Global Weekly Events

Date Region Event Description Forecast Previous
March 2,2020 INR Nikkei Markit Manufac. PMI (Feb) 52.8 55.3
March 2,2020 USD ISM Manufacturing PMI (Feb) 50.5 47.2
March 4,2020 INR Nikkei Services PMI (Feb) 52.8 55.5
March 6,2020 USD Unemployment Rate (Feb)  3.6%  3.6%
March 6,2020 INR Nonfarm Payrolls (Feb) 178K  225K

Domestic Economy Indicators

Heading Indicators Current Previous
 RBI Policy Rate Policy Repo Rate 5.15% 5.15%
Reserve Policy Rate 4.90% 4.90%
Bank Rate 5.40% 5.40%
 Reserve Ratio CRR 4% 4%
SLR 18.50% 18.50%
 Inflation Rate Wholesale Price Index 3.10% 2.59%
  Consumer Price Index 7.59% 7.35%
 Trade Data Export ($ Million) 25970 27360
Import($ Million) 41140 38610
 Industry IIP -0.3% 1.8%

 

Domestic Indices Closing(28th Feb) Change %Change
BSE Sensex           38,297.29 -2,872.83 -6.98
Nifty 11,201.75 -879.10 -7.28
Mid Cap 14,600.02 -1,094.39 -6.97
Small Cap 13,709.01 -1,037.51 -7.04
Bank Nifty 29,147.15 -1,795.70 -5.80

 

Global Indices Closing(28th Feb) Change %Change
Dow Jones 25,409.36 -3,583.05 -12.36
Nasdaq 8,567.37 -1,009.22 -10.54
FTSE 6,580.61 -823.31 -11.12
Nikkei 21,142.96 -2,243.78 -9.59
Hang Seng 26,129.93 -1,178.88 -4.32
Shanghai Com 2,880.30 -159.37 -5.24

 

Net Inflow (Cr) FII DII
24-Feb-2020 -1,160.90 516.21
25-Feb-2020 -2,315.07 1,565.28
26-Feb-2020 -3,336.60 2,785.67
27-Feb-2020 -3,127.36 3,497.50
28-Feb-2020 -1,428.74 7,621.16
Total -11,368.67 15985.82

 

Top Losers Closing Price Prev Close Chg (%)
Vedanta 114.00 142.35 -19.92
Tata Motors 128.95 158.90 -18.64
Hindalco 155.90 189.95 -17.93
Indiabulls hsg. 279.85 338.20 -17.25
JSW Steel 235.70 281.80 -16.36

 

Economic News:

  • India’s economy grew 4.7% in the December quarter, its slowest pace in nearly seven years, declining further from an upwardly revised 5.1% in the previous quarter, undermining suggestions that the slowdown may have bottomed out. Experts said the rapid spread of Covid-19 is likely to lead to further disruption, delaying a recovery. Despite 3Q generally being one of the strongest quarters due to the festival season and higher rural spending driven by kharif harvest, the growth slowdown is continuing,” said DK Pant, chief economist, India Ratings and Research.
  • Eight core industries grew by 2.2 per cent on annual basis during January, showed government data released on Friday. The rise in production for core sectors came on the back of expansion in coal, steel, cement and refinery products sectors. The combined Index of Eight Core Industries stood at 137.5 in January, 2020, which increased by 2.2 per cent as compared to the index of January, 2019. Its cumulative growth during April, 2019 to January, 2020 was 0.6 per cent.

 Industry News:

  • The crucial meeting of Digital Communications Commission (DCC) on Friday could not arrive at a decision on relief to the distressed telecom sector and more details are required for reconciliation of AGR data, sources said. The DCC meeting lasted two hours and is expected to meet again in coming days, the sources said. The telecom department officials continue to maintain that the meeting did not focus on AGR issues but on project implementation for PPP on Bharat Net project.
  • The suspension of shipments by sea in China in the wake of the outbreak of coronavirus that has led to nearly 3,000 deaths worldwide is likely to adversely impact the domestic automotive component industry. China accounts for 27 per cent of India’s automotive component imports every year. The coronavirus is expected to have an impact on the Indian automotive industry and hence also on the automobile component and forging industries, which had already reduced their production rate due to the market conditions and on account of the impending change over to BS-VI emission norms from BS-IV from the 1st of April 2020.

  Company News:

  • The Reserve Bank of India has approved the appointment of Sumant Kathpalia as managing director and chief executive officer of IndusInd Bank Ltd., with effect from March 24, for a period of three years. The private lender informed the exchanges today that Kathpalia would take over immediately after the incumbent, Romesh Sobti, retires.
  • Vodafone Idea, in a letter to Department of Telecom (DoT) and Telecom Regulatory Authority of India (TRAI), has sought at least 7-8 times hike in mobile data tariffs and sought call charges at 6 paise per minute to be able to pay its AGR (Adjusted Gross Revenue) dues. Among other demands, the telco has suggested raising mobile internet prices from current Rs 4-5 per gigabyte to Rs 35 per GB and fixing of minimum connection charges at Rs 50 from April. Notably, the call for tariff hike has come despite the telco increasing charges by up to 50 per cent in December. Vodafone Idea believes it can only earn revenue at the same level as 2016-17 if the government fixes floor price for calls and data charges.
  • SBI Cards and Payment Services (SBI Cards), a subsidiary of State Bank of India (SBI), has allotted nearly Rs 2,800 crore worth of shares to anchor investors. These are institutional investors that commit to subscribe to the shares in the initial public offering (IPO) ahead of its opening. Many other investors look at the demand and quality of the anchor book to decide whether to apply in the IPO. A total of 36.7 million shares have been allotted to 75 anchor investors at Rs 755 apiece, the top-end of the IPO price band. Some of the investors that have been allotted include sovereign funds belonging to the Singapore and Kuwait government, Fidelity, Nomura, BNP Paribas, GMO and Blackrock.

Global News:

  • Factory activity in China contracted at the fastest pace on record in February, highlighting the damage from the coronavirus outbreak on the world’s second-largest economy. China’s official Purchasing Managers’ Index (PMI) fell to a record low of 35.7 in February from 50.0 in January, the National Bureau of Statistics said on Saturday, well below the 50-point mark that separates monthly growth from contraction. Analysts polled by Reuters expected the February PMI to come in at 46.0.
  • S. Coronavirus panic sent world stock markets tumbling again on Friday, with an index of global stocks setting its largest weekly fall since the 2008 global financial crisis, and over $5 trillion wiped from global market value this week. U.S. stocks shaved most of the day’s losses late in the New York session but only the Nasdaq eked out a positive close. The Dow lost nearly 3,600 points this week and the S&P 500 posted a double-digit weekly percentage loss for only the fifth time since 1940.

 (Source: Economic Times, Business Today, Business Standard, Investing, Moneycontrol)

Forthcoming Corporate Actions (2nd March to 7th March)

Security Name Ex-Date Purpose Security Name   Ex-Date  Purpose
BERGEPAINT 02-Mar-20 Interim Dividend – Rs. – 1.90 BBL 05-Mar-20 Interim Dividend – Rs. – 12.50
MASFIN 02-Mar-20 Interim Dividend – Rs. – 6.00 CHEMCRUX 05-Mar-20 Interim Dividend – Rs. – 3.00
NIITLTD 02-Mar-20 Interim Dividend – Rs. – 8.00 CHOLAHLDNG 05-Mar-20 Interim Dividend – Rs. – 0.65
QUICKHEAL 02-Mar-20 Interim Dividend – Rs. – 4.00 GRAVITA 05-Mar-20 Interim Dividend – Rs. – 0.70
TECHM 02-Mar-20 Interim Dividend – Rs. – 10.00 INDAG 05-Mar-20 Interim Dividend – Rs. – 1.50
ALUFLUOR 03-Mar-20 Interim Dividend – Rs. – 2.00 JKPAPER 05-Mar-20 Interim Dividend – Rs. – 4.00
ASIANPAINT 03-Mar-20 Interim Dividend – Rs. – 7.15 KAMAHOLD 05-Mar-20 Interim Dividend – Rs. – 30.00
BAJAJ-AUTO 03-Mar-20 Interim Dividend – Rs. – 120.00 KOVAI 05-Mar-20 Interim Dividend – Rs. – 3.00
BAJAJFINSV 03-Mar-20 Interim Dividend – Rs. – 5.00 KRBL 05-Mar-20 Interim Dividend – Rs. – 2.80
BAJAJHLDNG 03-Mar-20 Interim Dividend – Rs. – 40.00 LALPATHLAB 05-Mar-20 Interim Dividend – Rs. – 6.00
BAJFINANCE 03-Mar-20 Interim Dividend – Rs. – 10.00 LGBBROSLTD 05-Mar-20 Interim Dividend – Rs. – 5.00
BHARATFORG 03-Mar-20 Interim Dividend – Rs. – 2.00 LINCOPH 05-Mar-20 Interim Dividend – Rs. – 1.50
JBCHEPHARM 03-Mar-20 Interim Dividend – Rs. – 10.00 LUMAXTECH 05-Mar-20 Interim Dividend – Rs. – 2.00
MAHSCOOTER 03-Mar-20 Interim Dividend – Rs. – 50.00 NAVINFLUOR 05-Mar-20 Interim Dividend – Rs. – 4.00
REDINGTON 03-Mar-20 Interim Dividend – Rs. – 2.80 NLCINDIA 05-Mar-20 Interim Dividend – Rs. – 7.06
SIS 03-Mar-20 Interim Dividend – Rs. – 2.00 PDMJEPAPER 05-Mar-20 Interim Dividend – Rs. – 0.20
APOLLOTYRE 04-Mar-20 Interim Dividend – Rs. – 3.00 PLASTIBLEN 05-Mar-20 Interim Dividend – Rs. – 3.75
ASAHISONG 04-Mar-20 Interim Dividend – Rs. – 3.00 RISHIROOP 05-Mar-20 Interim Dividend – Rs. – 1.00
CARBORUNIV 04-Mar-20 Interim Dividend – Rs. – 2.75 SACHEMT 05-Mar-20 Interim Dividend – Rs. – 0.20
CHOLAFIN 04-Mar-20 Interim Dividend – Rs. – 0.70 SHARDACROP 05-Mar-20 Interim Dividend – Rs. – 2.00
COASTCORP 04-Mar-20 Interim Dividend – Rs. – 1.50 THOMASCOOK 05-Mar-20 Buy Back of Shares
EXIDEIND 04-Mar-20 Interim Dividend – Rs. – 2.50 TRANSPEK 05-Mar-20 Interim Dividend – Rs. – 10.00
PCCOSMA 04-Mar-20 Interim Dividend – Rs. – 3.00 VEDL 05-Mar-20 Interim Dividend – Rs. – 3.90
PTL 04-Mar-20 Interim Dividend – Rs. – 2.50 WONDERLA 05-Mar-20 Interim Dividend – Rs. – 1.80
SAHYADRI 04-Mar-20 Interim Dividend – Rs. – 2.50 BORORENEW 06-Mar-20 Spin Off
SUNDRMFAST 04-Mar-20 Interim Dividend – Rs. – 2.80 CCL 06-Mar-20 Interim Dividend – Rs. – 1.50
TATACHEM 04-Mar-20 Spin Off MGL 06-Mar-20 Interim Dividend – Rs. – 9.50
AMJLAND 05-Mar-20 Interim Dividend – Rs. – 0.20 SCTL 06-Mar-20 Stock  Split From Rs.10/- to Rs.2/-
ANUHPHR 05-Mar-20 Interim Dividend – Rs. – 2.75 SCTL 06-Mar-20 Bonus issue 2:1
AVANTI 05-Mar-20 Interim Dividend – Rs. – 5.00 SONATSOFTW 06-Mar-20 Interim Dividend – Rs. – 14.50

Source: BSE, Elite wealth Research

Upcoming Board Meetings (2nd March to 7th March)

Symbol Purpose    BM Date Symbol Purpose  BM Date
AUTOAXLES Interim Dividend 02-Mar-20 SICLTD General 03-Mar-20
AXTEL Interim Dividend 02-Mar-20 STL General 03-Mar-20
CSL Preferential Issue of shares 02-Mar-20 SUPRAJIT Interim Dividend 03-Mar-20
GEL General 02-Mar-20 AMNPLST Interim Dividend 04-Mar-20
KABRADG General 02-Mar-20 CHAMBLFERT Interim Dividend 04-Mar-20
KDDL Interim Dividend;General 02-Mar-20 CUPID Interim Dividend;General 04-Mar-20
KRL Interim Dividend 02-Mar-20 DEEPAKNI Interim Dividend 04-Mar-20
LLOYDSME Issue Of Warrants;General 02-Mar-20 GINISILK Interim Dividend 04-Mar-20
MANINFRA Interim Dividend 02-Mar-20 GRNLAMIND Interim Dividend 04-Mar-20
NBVENTURES Interim Dividend 02-Mar-20 KALPATPOWR Interim Dividend;General 04-Mar-20
NEXUSCOMMO General 02-Mar-20 KIRLPNU Interim Dividend 04-Mar-20
RSTL General 02-Mar-20 MAHESH General 04-Mar-20
SIPTL General 02-Mar-20 RESONANCE Interim Dividend 04-Mar-20
VINATIORGA Interim Dividend 02-Mar-20 TRABI General 04-Mar-20
ALBERTDA Interim Dividend;General 03-Mar-20 BNKCAP Interim Dividend 05-Mar-20
BRAHMINFRA Quarterly Results;General 03-Mar-20 GAMMONIND Quarterly Results 05-Mar-20
CONTCHM General 03-Mar-20 INSECTICID Interim Dividend 05-Mar-20
DRA General 03-Mar-20 JAMNAAUTO Interim Dividend 05-Mar-20
ELDEHSG Interim Dividend 03-Mar-20 KIRLFER Interim Dividend;Dividend 05-Mar-20
EMPIND Interim Dividend 03-Mar-20 PRAJIND Interim Dividend 05-Mar-20
ENDURANCE Interim Dividend 03-Mar-20 PRECAM Interim Dividend 05-Mar-20
FAZE3Q Interim Dividend 03-Mar-20 RRIL Amalgamation 05-Mar-20
INDIAGLYCO Interim Dividend 03-Mar-20 SANDUMA Interim Dividend 05-Mar-20
INDIAMART Interim Dividend 03-Mar-20 APLLTD Interim Dividend 06-Mar-20
JYOTISTRUC Audited Results;Quarterly Results 03-Mar-20 ASHFL General 06-Mar-20
MEGH Interim Dividend 03-Mar-20 ASIACAP General 06-Mar-20
MIDHANI Interim Dividend 03-Mar-20 BOMBPOT General 06-Mar-20
NH Interim Dividend 03-Mar-20 COALINDIA Interim Dividend 06-Mar-20
PNBHOUSING General 03-Mar-20 DAULAT General 06-Mar-20
POLYCAB Interim Dividend 03-Mar-20 ELGIEQUIP Interim Dividend 06-Mar-20
POPULARES General 03-Mar-20 GESHIP Interim Dividend 06-Mar-20
RAMCOCEM Interim Dividend 03-Mar-20 HAVELLS Interim Dividend 06-Mar-20
RAMCOIND Interim Dividend 03-Mar-20 KIRLOSENG Interim Dividend 06-Mar-20
REMSONSIND Interim Dividend 03-Mar-20 POWERGRID Interim Dividend 06-Mar-20
SHRMFGC General 03-Mar-20 GAEL Interim Dividend 07-Mar-20

Source: BSE, Elite wealth Research

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2020-02-29-Major-Economy-Indicators-2

 

2020-02-29-Major-Economy-Indicators-3


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

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