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 $)
|Precious Metal||Current Price||Change (%)||3 Month||6 Month||1 Year|
Global Weekly Events
|Dec 2,2019||USD||ISM Manufacturing PMI (Nov)||49.4||48.3|
|Dec 3,2019||GBP||Construction PMI (Nov)||44.8||44.2|
|Dec 4,2019||USD||Crude Oil Inventories||–||1.572M|
|Dec 5,2019||INR||Interest Rate Decision||4.90%||5.15%|
|Dec 6,2019||USD||Unemployment Rate (Nov)||3.6%||3.6%|
Domestic Economy Indicators
|RBI Policy Rate||Policy Repo Rate||5.15%||5.40%|
|Reserve Policy Rate||4.90%||5.15%|
|Inflation Rate||Wholesale Price Index||0.16%||0.33%|
|Consumer Price Index||4.62%||3.99%|
|Trade Data||Export ($ Million)||26380||26030|
|Domestic Indices||Closing(29th Nov)||Change||%Change|
|Global Indices||Closing(29th Nov)||Change||%Change|
|Net Inflow (Cr)||FII||DII|
|Top Gainers||Closing Price||Prev Close||Chg (%)|
|Top Losers||Closing Price||Prev Close||Chg (%)|
|Larsen & Toubro||1330.15||1378.65||-3.49|
|Mahindra & Mahindra||530.55||546.00||-2.38|
- 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.
- 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.
- 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.
- 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|
|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|
Source: BSE, Elite wealth Research
Major Economy Indicators
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
For Daily Share Market Updates, Daily debt market review, Market Research Analysis reports, Weekly Techno-Funda Report, Fundamental Analysis Report, Monthly Recommended stock Picks, Equity Trading Tips, Upcoming IPO/NFO/Bonds/Ncd’s updates & other related information Subscribe our research plan