Indian Market Outlook:

The Nifty witnessed its third consecutive month of sustained gains as the month ended with a gain of around 1.5 %.

In the week ended on Friday, 25th November 2019, the Sensex rose 434.40 points or 1.08 % to settle at 40,793.81.41 while Nifty index rose 141.65 points or 1.19% to settle at 12056.05. The outcome of the RBI monetary policy meeting will be closely watched in the week ahead. Besides, global cues, macroeconomic data, forex fluctuation, Crude oil price movement and investments by FPI and DII will also be closely watched.

The RBI’s MPC meets between 3 December and 5 December 2019 to review the interest rates market estimates that RBI may cut rate further to support growth which is at lowest level in Modi Government tenure.

Developments in the Winter Session of Parliament will also be closely watched which will conclude on 13 December 2019. Auto stocks will be in focus as auto companies will start announcing monthly sales numbers for November 2019 starting from 1 December 2019.Market Services PMI for November 2019 will be unveiled on Wednesday, 4 December 2019.

Focus would be on RBI monetary policy data, which is expected to cut further, besides taking cues from global factors in the expiry week ahead.

Latest Spot Price (in US $)

Precious Metal Current Price Change (%) 3 Month 6 Month 1 Year
Gold 1,470.30 0.60 -3.86 12.74 17.02
Silver 17.10 1.06 -6.76 17.36 18.01
Platinum 898.10 0.49 -4.11 13.45 12.12
USD/INR 71.75 -0.06 0.42 2.76 3.02
Crude 55.42 -4.37 0.58 -2.07 8.82

 

Global Weekly Events

Date Region Event Description Forecast Previous
Dec 2,2019 USD ISM Manufacturing PMI (Nov) 49.4 48.3
Dec 3,2019 GBP Construction PMI (Nov) 44.8 44.2
Dec 4,2019 USD Crude Oil Inventories 1.572M
Dec 5,2019 INR Interest Rate Decision  4.90% 5.15%
Dec 6,2019 USD Unemployment Rate (Nov) 3.6% 3.6%

 

Domestic Economy Indicators

Heading Indicators Current Previous
 RBI Policy Rate Policy Repo Rate 5.15% 5.40%
Reserve Policy Rate 4.90% 5.15%
Bank Rate 5.40 5.65
 Reserve Ratio CRR 4% 4%
SLR 18.50% 18.75%
 Inflation Rate Wholesale Price Index 0.16% 0.33%
  Consumer Price Index 4.62% 3.99%
 Trade Data Export ($ Million) 26380 26030
Import($ Million) 37390 36890
 Industry IIP -4.3% -1.4%

 

Domestic Indices Closing(29th Nov) Change %Change
BSE Sensex           40,793.81 434.40 1.08
Nifty 12,056.05 141.65 1.19
Mid Cap 15,084.86 346.19 2.35
Small Cap 13,560.57 206.79 1.55
Bank Nifty 31,946.10 834.50 2.68

 

Global Indices Closing(29th Nov) Change %Change
Dow Jones 28,051.41 175.79 0.63
Nasdaq 8,665.47 145.59 1.71
FTSE 7,346.53 19.72 0.27
Nikkei 23,293.91 181.03 0.78
Hang Seng 26,346.49 -248.59 -0.93
Shanghai Com 2,871.98 -13.31 -0.46

 

Net Inflow (Cr) FII DII
25-Nov-2019  960.90 -213.66
26-Nov-2019 4677.75 -4242.01
27-Nov-2019 42.93 439.51
28-Nov-2019 1008.89   -155.47
29-Nov-2019 -1,892.29 953.62
Total 4798.18 -3218.01

 

Top Gainers Closing Price Prev Close Chg (%)
Indiabulls Housing 290.50 237.35 22.39
Bharti Infratel 276.30 232.00 19.09
Indusind Bank 1569.10 1446.15 8.50
UPL 573.25 533.50 7.45
Tata Steel 427.50 400.00 6.88

 

Top Losers Closing Price Prev Close Chg (%)
Zee Entertainment 239.05 358.10 -18.17
Larsen & Toubro 1330.15 1378.65 -3.49
Mahindra & Mahindra 530.55 546.00 -2.38
Power Grid 193.30 198.75 -2.74
Cipla 466.70 478.85 -2.54

 

Economic News:

  • India’s gross domestic product (GDP) grew 4.5 percent in July-September 2019, the lowest since the fourth quarter of 2012-13, confirming fears of a deepening slowdown in the economy as households aren’t spending enough to buoy demand and companies aren’t adding capacities or hiring more. Gross Value Added (GVA), which is GDP minus taxes and is seen as a more realistic gauge to measure economic activity, grew 4.3 percent in July-September 2019, compared to 4.9 percent in the previous quarter and 6.9 percent in the second quarter of the previous year.
  • India’s crude oil production fell 5.09 per cent in October this year over the corresponding period in the previous year as state-owned ONGC and Oil India missed target output, official data showed on Tuesday. According to data released by the Ministry of Petroleum and Natural Gas, crude oil production in October 2019 stood at 2,738.44 thousand metric tonnes (TMT), which was 7.21 per cent lower than monthly target and 5.09 per cent lower when compared with October 2018.

Industry News:

  • Setting a floor for mobile phone tariffs is now off the table, with the regulator and the telecom department unable to agree on the matter and private telcos Bharti Airtel, Vodafone Idea and Reliance Jio along with state-run Bharat Sanchar Nigam Ltd. having decided to increase prices from next month, a senior government official said. “There’s no more discussion on floor prices,” the telecom department official said. “The telcos have already decided to raise tariffs. They can raise them further as well… we won’t intervene.”
  • Finance Minister Nirmala Sitharaman on Wednesday said the automobile industry’s problems are essentially derived because of the Supreme Court’s order to upgrade to BS-VI emission norms, thereby resulting into a churn in the sector. The problem in the automobile sector was essentially derived because of the emission orders which came from the Supreme Court which said BS-IV should be done away with and with two years’ time given BS-VI standards should come into place.

Company News:

  • Reliance Industries Thursday became the first Indian company with a market cap of over Rs 10 lakh crore, as its shares continued the record-breaking run that has made it the world’s top-performing major energy stock in 2019. RIL, India’s most valuable company, has overtaken PetroChina to enter the top five club of global energy giants (by M-cap). It is now the world’s 67th most valuable stock and has risen 41 per cent this year. At the end of trade Thursday, RIL market cap stood at $139.69 billion compared with PetroChina’s $139.32 billion.
  • The Competition Commission of India (CCI) on Thursday approved Amazon’s proposed Rs 1,500 crore deal to acquire 49 per cent stake in Future Coupons Ltd (FCL), a Future Retail promoter group company. “The proposed combination pertains to the acquisition by the acquirer (Amazon.com NV Investment Holdings) of approximately 49 per cent of the voting and non-voting equity shares of the target (Future Coupons Ltd),” CCI said in its order.
  • The Reserve Bank of India (RBI) on Friday filed insolvency application against cash-strapped Dewan Housing Finance Corporation Ltd (DHFL) at Mumbai bench of the National Company Law Tribunal (NCLT). With this, DHFL has become the first financial service provider to face the bankruptcy court under the new bankruptcy rules. On November 15, the corporate affairs ministry had notified these rules to deal with the resolution of financers apart from banks.

Global News:

  • Saudi Aramco has received bids for its shares totalling $44.3 billion so far, lead manager Samba Capital said on Friday, putting its initial public offering on track to be over-subscribed. The state-owned oil giant plans to sell 1.5% of the company’s shares for as much as 96 billion riyals ($25.6 billion), a deal which would give it a market value of $1.7 trillion. Overall demand so far totals 1.7 times the amount of shares on offer, with institutional investors having until Dec 4 to put their bids in.
  • China’s November factory activity rebounded for the first time in seven months, data showed Saturday, despite the looming threat of fresh US tariffs within weeks if Beijing and Washington fail to sign a partial trade deal. The closely watched Purchasing Managers’ Index (PMI), a key gauge of activity in the country’s factories, rose to 50.2 in November, up from 49.3 last month, the National Bureau of Statistics said.

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

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

Security Name Ex-Date Purpose Security Name Ex-Date Purpose
REDINGTON 03-Dec-19 Interim Dividend – Rs. – 1.50 HEIDELBERG 05-Dec-19 Interim Dividend – Rs. – 1.50
MANUGRAPH 04-Dec-19 Dividend – Rs. – 0.50 SAGRSOY-B 05-Dec-19 Reduction of Capital
BRNL 05-Dec-19 Dividend – Rs. – 0.50 THOMASCOOK 05-Dec-19 Spin Off
HCLTECH 05-Dec-19 Bonus issue 1:1

Source: BSE, Elite wealth Research

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

Symbol Purpose BM Date Symbol Purpose BM Date
ASINPET Increase in Authorised Capital 02-Dec-19 INVENTURE Quarterly Results 05-Dec-19
WEBELSOLAR Preferential Issue of shares 02-Dec-19 KHAITANLTD Quarterly Results 05-Dec-19
BCG Preferential Issue of shares 03-Dec-19 MAYUKH General 05-Dec-19
DIAMINESQ General 03-Dec-19 MIDEASTP General 05-Dec-19
GUFICBIO Quarterly Results 03-Dec-19 MUNOTHFI General 05-Dec-19
KOTHARIFIN General 03-Dec-19 CENTRUM Quarterly Results 06-Dec-19
NESTLEIND Interim Dividend 03-Dec-19 COSBOARD General 06-Dec-19
DHUNINV Quarterly Results 04-Dec-19 EKAMLEA Quarterly Results 06-Dec-19
SALEM Quarterly Results 04-Dec-19 UNITDCR Quarterly Results 06-Dec-19
VERTEX General;Quarterly Results 04-Dec-19 UNITECH Quarterly Results 07-Dec-19
CEEJAY Quarterly Results 05-Dec-19

Source: BSE, Elite wealth Research

Major Economy Indicators

 


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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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