Indian Market Outlook:

The Key benchmark indices rose over 2 percent over the week led by stimulus package announcement in the US.  Market was also supported by refloating of Suez Canal ship (MV Ever Given) and opening of the canal after 7-days. Nifty ended the week with 2.48 percent higher at 14867 points while the Sensex ended with 2.08 percent higher at 50029 points. Broader market outperformed the key benchmark indices. BSE Midcap index ended 2.73 percent higher, while the BSE Small cap index rose 3.91 percent, during the course of the week. Bank Nifty underperformed the key benchmark indices during the week. Foreign Institutional Investors were the net Sellers during the week; sell equities worth Rs.767 crores while the DIIs were the net buyers of Rs.3966 crores. DIIs turned into net buyers in March after the net sellers for consecutively in last 5 months. Auto companies reported encouraging sales numbers in March, 2021 beats street estimates. Going forward, rising cases of coronavirus may cause market to underperform in the near term.  As Q4 earning season is approaching, focus will also shift to earnings announcements and management commentary. IT major TCS will announce its Q4FY21 Result on 12th April, 2021 followed by Infosys on 14th April, 2021. On Macro Front the first meeting of MPC to decide on the first bi-monthly monetary policy statement for 2021-22 will be held from April 5 to 7. The policy will be announced on April 7, also Nikkei Markit Manufacturing PMI and Nikkei Services PMI (Mar) of India would be announced on 3rd April, 2021.

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Latest Spot Price (in US $)

Precious Metal Current Price Change (%) 3 Month 6 Month      1 Year
Gold 1,730.45 -0.11 -11.10 -9.29 5.59
Silver 25.03 -0.32 -7.30 0.20 70.50
Platinum 1,214.10 1.93 11.27 38.45 66.51
USD/INR 73.38 1.06 0.42 0.37 -3.95
Crude 61.30 0.54 28.73 65.45 142.10

Global Weekly Events

Date Region Event Description Forecast Previous
Apr 05,2021 INR Nikkei Markit Manufacturing PMI 57.5 57.5
Apr 05,2021 USD ISM Non-Manufacturing PMI (Mar)  58.5 55.3
Apr 07,2021 USD Crude Oil Inventories  0.107M -0.876M
Apr 07,2021 INR RBI Interest Rate Decision       4.00%     4.00%
Apr 07,2021        INR Nikkei Services PMI (Mar) 55.3
Apr 08,2021        USD Initial Jobless Claims 719K

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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 4.17% 2.03%
Consumer Price Index 5.03% 4.06%
 Trade Data Export ($ Million) 34000 27930
Import($ Million) 48120 40540
  IIP -1.6% 1.6%

 

Domestic Indices Closing(1st April) Change %Change
BSE Sensex 50,029.83 1,021.33 2.08
Nifty 14,867.35 360.05 2.48
Mid Cap 20,516.40 546.03 2.73
Small Cap 21,071.69 792.73 3.91
Bank Nifty 33,858.00 539.80 1.62

 

Global Indices Closing(1st

April)

Change %Change
Dow Jones 33,153.21 80.33 0.24
Nasdaq 13,480.11 341.39 2.60
FTSE 6,737.30 -3.29 -0.05
Nikkei 29,854.00 677.30 2.32
Hang Seng 28,938.74 602.31 2.13
Shanghai Com 3,484.39 66.06 1.93

 

Net Inflow (Cr) FII DII
30-Mar-2021 769.47 2,181.01
31-Mar-2021 -1,685.91 2,081.52
01-Apr-2021 149.41 -296.84
Total -767.03 3,965.69

 

Top Gainers Closing Price Prev Close Chg (%)
Tata Steel 863.05 702.80 22.80
JSW Steel 508.75 437.35 16.33
Hindalco        350.25 317.75 10.23
UPL 653.60 608.85 7.35
Yes Bank 15.70 14.65 7.17

 

Top Losers Closing Price Prev Close Chg (%)
Hero MotoCorp        2956.10 3033.85 -2.56
Maruti Suzuki        6923.90 7066.20 -2.01
IOC 93.15 94.55 -1.48
Reliance Ind. 2021.85 2047.30 -1.24
Eicher Motors 2631.15 2660.65 -1.11

Source: Investing, NDTV, BSE, Livemint, Economic Times

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Economic News:

  • Preliminary trade data for the month of March, released by the government on April 1, suggests that gold imports surged to over $10 billion, a huge jump compared to a month and a year ago. The preliminary data put out in a press release showed: Total imports at $40.12 billion. Non-oil imports at $37.95 billion. Non-oil, non-gold (gold, silver and precious metals) imports at $27.01 billion. This suggests that gold, silver and precious metals imports for the month of March stood at $10.94 billion. The release says that gold imports alone rose $7.17 billion or 584% over a year ago. In March 2020, gold imports stood at $2.8 billion.

  • India reported the biggest jump in new coronavirus infections in nearly seven months amid a second wave of the pandemic. As many as 89,129 people tested positive for Covid-19 in the last 24 hours, according to the Health Ministry’s update as of 8:00 a.m. on April 3. That’s the highest daily addition since Sept. 21, 2020. The new case count was more than double the 44,202 recoveries, taking India’s active caseload to 6.58 lakh. Daily death toll stood at 714.

 Industry News:

  • Bajaj Auto Ltd sold a total of 3,69,448 units in March, that’s a fall of 1.5% over last month’s sale of 3,75,017 units. Hero MotoCorp’s sales rose 72% over the year earlier on a low base due to covid disruption and BS6 transition last year. Month-on-Month sales however rose 14% from 505,467 units in February. TVS Motor Company reported a 8.3% increase in total sales to 322,683 units in March, over last month.

  • The Competition Commission of India (CCI) has penalised the Uttarakhand Agricultural Produce Marketing Board (UAPMB) for anti-competitive ways in the procurement of Indian Made Foreign Liquor (IMFL) in the state. This is the first instance of CCI having ruled in favour of the industry against a state government commercial enterprise operating in the alcoholic beverages trade.

 

Company News:

  • Coal India Ltd.’s sales fell to the lowest in four years as the Covid-19 pandemic hurt demand from power producers—its largest customer. Offtake—or sales—of the world’s largest miner of the solid fuel fell 1.3% year-on-year to 573.8 million tonnes in the year ended March 2021, according to the company’s filings. That’s also the second straight year of sales decline. The difference between Coal India’s offtake and target—at -11.7 %—is the highest in at least thirteen years. The FY21 target was initially set at 710 million tonnes, which was later revised downward to 650 million tonnes.

  • Directorate of revenue intelligence (DRI) and customs authorities have served a show-cause notice to Maruti Suzuki India (MSIL) for allegedly evading around Rs 71-crore duty over ‘dubious’ hybrid technology used in Ciaz, Ertiga and S-cross. According to customs sources, following the DRI Lucknow investigation, on Wednesday, MSIL was served a 105-page notice for Rs 71 crore. Another notice in the same matter is being considered, with the scale of the alleged duty evasion estimated at another Rs 70 crore.

  • State-owned Steel Authority of India (Sail) on Friday said it reduced its gross debt by about Rs 16,150 crore in the Q4 of FY 21 to Rs 35,330 crore (provisional). “The company adopted a focussed approach on improving its volumes, improving operational efficiencies, operating the facilities at optimum levels, deleveraging its balance sheet and reducing its inventory levels,” Sail chairman Soma Mondal said in a statement, adding that the multi-pronged strategy helped the company top its performance.

Global News:

  • OPEC+ expressed growing confidence in the global economic recovery by agreeing to increase oil production gradually in the coming months. Before Thursday’s meeting, the cartel had been widely expected to maintain its cautious stance by rolling over the current supply cuts, just as it did last month. Yet Saudi Arabia and its allies showed they are more convinced now that fuel demand is on a firmer footing after a yearlong beating from the coronavirus.

  • S. employers added the most jobs in seven months with improvement across most industries in March, as more vaccinations and fewer business restrictions supercharged the labor market recovery. Nonfarm payrolls increased by 916,000 last month and February employment was revised up to a 468,000 gain, according to a Labor Department report Friday.

(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
SAREGAMA 05-Apr-21 Interim Dividend – Rs. – 20.00 INDNIPPON 08-Apr-21 Interim Dividend – Rs. – 6.00
SBILIFE 05-Apr-21 Interim Dividend – Rs. – 2.50 KAMAHOLD 08-Apr-21 Interim Dividend – Rs. – 108.00
SRTRANSFIN 05-Apr-21 Interim Dividend – Rs. – 6.00 PREMCO 08-Apr-21 Interim Dividend – Rs. – 2.00
NACLIND 06-Apr-21 Interim Dividend – Rs. – 0.1500 RVNL 08-Apr-21 Interim Dividend – Rs. – 1.1400
SHRIRAMCIT 06-Apr-21 Interim Dividend – Rs. – 10.00 SIS 08-Apr-21 Buy Back of Shares
SKIEL 06-Apr-21 E.G.M. INLANPR 09-Apr-21 Consolidation of Shares
EDELWEISS 07-Apr-21 Interim Dividend – Rs. – 0.90 PRITIKAUTO 09-Apr-21 Stock  Split From Rs.10/- to Rs.2/-
BRITANNIA 08-Apr-21 Interim Dividend RAMAPHO 09-Apr-21 Interim Dividend – Rs. – 1.00
GOVINDRU 08-Apr-21 Resolution Plan -Suspension ROTO 09-Apr-21 Interim Dividend – Rs. – 1.40

Source:BSE, Elite wealth Research

Upcoming Board Meetings

Symbol Purpose BM Date Symbol Purpose BM Date
AREXMIS General 05-Apr-21 SIMPLXMIL General 07-Apr-21
ASHRAM General 05-Apr-21 SIMPLXPAP General 07-Apr-21
HALDYNGL General 05-Apr-21 STURDY General 07-Apr-21
IFLPROMOT Quarterly Results 05-Apr-21 TANLA General 07-Apr-21
IRCON Bonus issue 05-Apr-21 UCOBANK Preferential Issue of shares 07-Apr-21
MIDPOLY General 05-Apr-21 INFRATRUST General 08-Apr-21
RATNABHUMI General 05-Apr-21 MINALIND Quarterly Results 08-Apr-21
STCINDIA General 05-Apr-21 SELMCL General;Quarterly Results 08-Apr-21
ASIANVE General 06-Apr-21 SUNRAJDI A.G.M.;Audited Results;General 08-Apr-21
GMBREW Final Dividend;Audited Results 06-Apr-21 AGARIND Issue Of Warrants;Preferential Issues 09-Apr-21
INOXLEISUR Preferential Issue;Rights Issue 06-Apr-21 DHANADACO General 09-Apr-21
KRANTI Bonus issue;General 06-Apr-21 EVEXIA Stock  Split;General 09-Apr-21
SIMPLEX Quarterly Results 06-Apr-21 GGENG Stock  Split 09-Apr-21
ARCHIDPLY General 07-Apr-21 ICSL Audited Results;General 09-Apr-21
KHAITANLTD General 07-Apr-21 MINALIND General;Quarterly Results 10-Apr-21

Source: BSE, Elite wealth Research

Major Economy Indicators

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