Indian Market Outlook:

The Key benchmark indices rose higher during the week however gains were capped due to weak global cues and doubts over AstraZeneca’s vaccine efficacy. Nifty managed to breach 13,000 for the first time in history while Sensex crossed 44,000 points. Nifty ended the week 0.6 percent higher at 12969 points while Sensex ended 0.8 percent higher at 44149 points. The Broder Market Outperformed the benchmark indices. BSE Midcap index ended 2.91 percent higher, while the BSE Small cap index rose 4.28 percent, during the course of the week. Foreign Institutional Investors were the net buyers during the week; bought equities worth Rs.19066 crore while the DIIs were the net sellers of Rs.15675 crore. Foreign portfolio investors remained net buyers for the second consecutive month in November Invest Record Rs 60,358 Crore in Equities. For the second quarter, GDP contracted by 7.5%, lower than the 8.5% median estimate from a poll of 30 economists. The economy had seen a contraction of 24% in the April-June period. Going Forward, the positive surprise that the Gross Domestic Product has contracted less than expected is likely to aid the positive sentiment. Macroeconomic data, auto sales numbers and the RBI policy to be released this week would be among the driving factors for stock market. OPEC members and its allies will hold a virtual meeting on Monday and Tuesday to finalise an expected extension to production cuts as the coronavirus pandemic continues to weigh on global demand. Developments over vaccine will be keenly followed this week. Burger King India is all set to open its IPO on December 2.

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Latest Spot Price (in US $)

Precious Metal Current Price Change (%) 3 Month 6 Month       1 Year
Gold 1,783.10 -4.63 -8.42 1.87 18.52
Silver 22.68 -6.36 -15.15 26.77 30.27
Platinum 970.95 1.95 4.82 19.49 5.56
USD/INR 73.93 -0.26 -1.32 -2.23 3.05
Crude 45.53 7.28 7.53 34.23 -18.38

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Global Weekly Events

Date Region Event Description Forecast Previous
Dec 01,2020 CNY Caixin Manufacturing PMI (Nov) 53.5 53.6
Dec 01,2020 INR Nikkei Markit Manufacturing PMI 57.3 58.9
Dec 01,2020 USD ISM Manufacturing PMI (Nov) 57.9 59.3
Dec 02,2020 USD Crude Oil Inventories 0.127M -0.754M
Dec 03,2020 INR Nikkei Services PMI (Nov) 55.5 54.1
Dec 04,2020 INR Interest Rate Decision 4.00% 4.00%

Domestic Economy Indicators

Heading Indicators Current Previous
 RBI Policy Rate Policy Repo Rate 4.00% 4.00%
Reverse Repo 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 1.48% 1.32%
Consumer Price Index 7.61% 7.27%
 Trade Data Export ($ Million) 24890 27580
Import($ Million) 33610 30310
 Industry IIP 0.2% -8.0%

 

Domestic Indices Closing(27th November) Change %Change
BSE Sensex 44,149.72 267.47 0.61
Nifty 12,968.95 109.90 0.85
Mid Cap 16,914.65 478.15 2.91
Small Cap 16,875.15 692.60 4.28
Bank Nifty 29,609.05 373.05 1.28

 

Global Indices Closing(27th

November)

Change %Change
Dow Jones 29,910.37 647.09 2.21
Nasdaq 12,205.85 350.88 2.96
FTSE 6,367.58 16.13 0.25
Nikkei 26,644.71 1,117.34 4.38
Hang Seng 26,894.68 443.14 1.68
Shanghai Com 3,408.31 30.58 0.91

 

Net Inflow (Cr) FII DII
23-Nov-2020 4,738.44 -2,944.05
24-Nov-2020 4,563.18 -2,522.11
25-Nov-2020 24.2 -1,840.33
26-Nov-2020 2,027.31 -3,400.10
27-Nov-2020 7,712.98 -4,968.90
Total 19,066.11 -15,675.49

 

Top Gainers Closing Price Prev Close Chg (%)
ONGC 78.50 71.65 9.56
Adani Ports 411.55 375.85 9.50
Vedanta 120.75 111.05 8.73
Tata Steel 577.35 532.90 8.34
IndiaBulls Hsg 187.05 174.75  7.04

 

Top Losers Closing Price Prev Close Chg (%)
Bharti Airtel 463.25 483.70 -4.23
HDFC 2256.25 2334.80 -3.36
BPCL        373.00 383.30 -2.69
Eicher Motors 2534.65 2590.65 -2.16
ICICI Bank 473.35 480.20 -1.43

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Economic News:

  • A second consecutive quarter of contraction pushed the Indian economy into a recession, as defined by two quarters of negative growth. The recession, however, may prove to be short lived with economists pointing to the better-than-expected performance in the July-September period, which may help the economy contract less than earlier feared. Even so, economists say that the damage done by Covid-19 will remain visible in the level of GDP, which will take until the end of 2021 to overtake the pre-pandemic trajectory. For the second quarter, GDP contracted by 7.5%, lower than the 8.5% median estimate by Bloomberg from a poll of 30 economists. The economy had seen a contraction of 24% in the April-June period.

 

  • Contracting for the eighth consecutive month, the output of eight core infrastructure sectors dropped by 2.5% in October, mainly due to decline in production of crude oil, natural gas, refinery products and steel. The production of eight core sectors had contracted 5.5% in October 2019, data released by the Commerce and Industry Ministry showed on Friday. While coal, fertiliser, cement and electricity recorded positive growth, crude oil, natural gas, refinery products and steel registered negative growth in the month under review.

 Industry News:

  • The outlook for Indian real estate sector remains resilient in the year 2021 following the sluggish movement across segments including commercial and residential property market in most part of 2020, said property consultant Knight Frank India. According to the consultant, the Bengaluru office market is expected to experience a rise in office rentals in the next year while Mumbai and National Capital Region are expected to remain stable in rental values.

 

  • Indian automakers in November shipped more vehicles from their factories than last year as demand sustained post festive season and on low base, according to three brokerages. But wholesales fell over the preceding month. Factory-gate shipments of most automakers fell in the range of 4-25% month-on-month in November, data compiled from research reports of Motilal Oswal, Emkay Global and Jefferies showed.

Company News:

  • DBS Bank India on Monday said customers of Lakshmi Vilas Bank, which has now been merged with it, can continue to access all banking services, and interest rates on savings and fixed deposits are unchanged as of now. Lakshmi Vilas Bank (LVB) has now been amalgamated with DBS Bank India Ltd (DBIL), the wholly-owned subsidiary of DBS Group Holdings Ltd, DBS Bank India said in a statement.

 

  • Glenmark Pharmaceuticals Ltd has agreed to divest some of its anti-allergy medicine brands in Russia, Ukraine, Kazakhstan, and Uzbekistan to Dr Reddy’s Laboratories Ltd for an undisclosed amount, the two companies said in a statement late on Saturday. The deal includes rights to the trademarks, dossiers and patents for the respective countries, and is “subject to completion of certain precedent actions and closing activities,” Glenmark said in its statement.

 

  • Real estate developer DLF on Sunday said it has sold nearly 90 independent floors worth over Rs 300 crore in Gurugram. The company also plans to launch more such projects as demand for premium residential properties has revived in last few months. Adding to it, plotted developments continue to remain an attractive investment option due to lower investment cost and higher returns. Hover over the keyword to read more about the topic without leaving this page! The company plans to launch independent floors in DLF Phase I-IV at Gurugram, New Gurugram and Panchkula among others.

Global News:

  • S&P Global Inc. is in advanced talks to buy IHS Markit Ltd. for about $44 billion, a deal that would accelerate the wave of consolidation among Wall Street’s biggest data providers. An announcement could come as early as Monday, according to a person familiar with the matter, who declined to be identified because the information isn’t public.

 

  • A panel of OPEC+ ministers couldn’t reach an agreement on whether to delay January’s oil-output increase, leaving the matter unresolved before a full meeting of the cartel and its allies on Monday. Most participants in an informal online discussion on Sunday evening supported maintaining the production curbs at current levels into the first quarter, said a delegate.

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

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Forthcoming Corporate Actions

Security Name Ex-Date Purpose Security Name Ex-Date Purpose
63MOONS 01-Dec-20 Dividend – Rs. – 2.00 VLSFINANCE 02-Dec-20 Dividend – Rs. – 1.50
BAJAJHCARE 01-Dec-20 Interim Dividend – Rs. – 1.2500 DEEP 03-Dec-20 E.G.M.
BAJAJHCARE 01-Dec-20 Special Dividend – Rs. – 0.50 GENCON 03-Dec-20 Final Dividend – Rs. – 0.0500
INDINFR 01-Dec-20 Income Distribution (InvIT) GICHSGFIN 03-Dec-20 Final Dividend – Rs. – 2.00
JUMPNET 01-Dec-20 Dividend – Rs. – 0.20 GIPCL 03-Dec-20 Final Dividend – Rs. – 2.90
NATIONALUM 01-Dec-20 Interim Dividend – Rs. – 0.50 JBMA 03-Dec-20 Final Dividend – Rs. – 1.7500
SAKUMA 01-Dec-20 Final Dividend – Rs. – 0.10 KANCHI 03-Dec-20 Buy Back of Shares
SHISHIND 01-Dec-20 Bonus issue 6:5 OAL 03-Dec-20 Interim Dividend – Rs. – 2.50

Source:BSE, Elite wealth Research

Upcoming Board Meetings

Symbol Purpose BM Date Symbol Purpose BM Date
EASTWEST Quarterly Results 01-Dec-20 KBSINDIA A.G.M.;Audited Results 03-Dec-20
EMCO Audited Results 01-Dec-20 MIDESTI-B A.G.M.;Audited Results 03-Dec-20
INDIANVSH Quarterly Results 01-Dec-20 SAYAJIHOTL Quarterly Results 03-Dec-20
KLKELEC General 01-Dec-20 TOYAMIND General 03-Dec-20
LOYAL A.G.M.;General 01-Dec-20 VEDAVAAG A.G.M. 03-Dec-20
NILACHAL A.G.M. 01-Dec-20 ZEELEARN Quarterly Results 03-Dec-20
TOYAMIND General 01-Dec-20 AYOME General 04-Dec-20
WELCON General 01-Dec-20 BALGOPAL A.G.M.;General 04-Dec-20
ADITRI General 02-Dec-20 CANOPYFIN A.G.M. 04-Dec-20
ADORWELD Quarterly Results 02-Dec-20 KAARYAFSL A.G.M.;General 04-Dec-20
ALICON In. in Auth. Capital;Pref. Issue 02-Dec-20 KENNAMET General;Scheme of Arrangement 04-Dec-20
AMFL A.G.M. 02-Dec-20 MACKINN A.G.M.;General 04-Dec-20
BMAL Half Yearly Results 02-Dec-20 PBGLOBAL A.G.M.;General 04-Dec-20
DOLPHMED A.G.M.;General 02-Dec-20 SMARTFIN A.G.M. 04-Dec-20
DRHABEEB A.G.M. 02-Dec-20 WEBELSOLAR Quarterly Results 04-Dec-20
ENCASH A.G.M.;General 02-Dec-20 YASHMGM General 04-Dec-20
HIKLASS A.G.M. 02-Dec-20 CEENIK A.G.M.;General 05-Dec-20
ICLORGANIC Half Yearly Results;General 02-Dec-20 INNOVTEC A.G.M.;General 05-Dec-20
MESCON Audited Results 02-Dec-20 JAINMARMO A.G.M.;General 05-Dec-20
MHEL Half Yearly Results 02-Dec-20 JAUSPOL A.G.M.;General 05-Dec-20
PRIMEFRESH General 02-Dec-20 MILEFUR A.G.M.;General 05-Dec-20
TANVI A.G.M.;General 02-Dec-20 MODCL A.G.M. 05-Dec-20
VAMA A.G.M.;General 02-Dec-20 PACIFICI A.G.M.;General 05-Dec-20
JIGAR General 03-Dec-20 SSORGS A.G.M.;General 05-Dec-20

Source: BSE, Elite wealth Research

Major Economy Indicators

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

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