Indian Market Outlook:

The Key benchmark indices rose over 3 percent over the week led by upbeat global cues and hopes on new fiscal stimulus both in US and India. Domestic cues such as upbeat September auto sales numbers, robust GST collections as well as Unlock 5 also supported market sentiment. Nifty ended the week 3.32 percent higher at 11416.95 points while Sensex ended 3.50 percent higher at 38697 points. Broader market too rose with Key benchmark indices. BSE Midcap index ended 3.32 percent higher, while the BSE Small cap index rise 3.28 percent, during the course of the week. Foreign Institutional Investors were the net sellers during the week; sell equities worth Rs.564 crore while the DIIs were the net buyers of Rs.1787 crore. Going forward, RBI likely to announce new dates for RBI’s MPC meet in upcoming week. The Supreme Court will hear interest waiver case on 5th October, 2020. Both events are crucial for bank and finance companies. Meanwhile government has told the Supreme Court that it is ready to waive interest on the repayment of loans of up to ₹ 2 crore, frozen by the Reserve Bank of India (RBI) in a six-month moratorium granted because of the coronavirus pandemic. The interest waiver will apply for loans taken by MSMEs (Micro, Small and Medium Enterprises), for educational, housing, consumer goods and auto loans and for credit card dues. Next week is also the beginning of Q2 earnings release. TCS is scheduled to announce its Q2FY21 numbers on October 7. Besides all, news related to COVID-19 and updates on the US Presidential election will also be closely tracked.

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Latest Spot Price (in US $)

Precious Metal Current Price Change (%) 3 Month 6 Month       1 Year
Gold 1,904.00 1.94 3.86 12.39 18.96
Silver 23.87 3.07 28.45 46.86 22.47
Platinum 887.55 5.17 4.96 4.83 -0.27
USD/INR 73.29 -0.57 -2.50 -1.58 3.86
Crude 36.97 -8.15 4.57 78.10 -29.74

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Global Weekly Events

Date Region Event Description Forecast Previous
Oct 05,2020 USD ISM Non-Manufacturing PMI (Sep) 56.3 56.9
Oct 06,2020 INR Nikkei Services PMI (Sep) 44.7 41.8
Oct 07,2020 USD Crude Oil Inventories  1.569M -1.980M
Oct 09,2020 GBP Manufacturing Production (MoM) 3.0% 6.3%
Oct 09,2020 INR Deposit Growth 12%
Oct 09,2020 INR Bank Loan Growth 5.3%

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 0.16% -0.58%
Consumer Price Index 6.69% 6.96%
 Trade Data Export ($ Million) 22700 23640
Import($ Million) 29470 28470
 Industry IIP -10.4% -15.7%

 

Domestic Indices Closing(1st October) Change %Change
BSE Sensex 38,697.05 1,308.39 3.50
Nifty 11,416.95 366.70 3.32
Mid Cap 14,813.25 476.57 3.32
Small Cap 14,970.44 474.86 3.28
Bank Nifty 22,246.00 1,263.65 6.02

 

Global Indices Closing(2nd October) Change %Change
Dow Jones 27,682.81 508.85 1.87
Nasdaq 11,075.02 161.46 1.48
FTSE 5,902.12 59.45 1.02
Nikkei 23,029.90 -174.72 -0.75
Hang Seng 23,459.05 223.63 0.96
Shanghai Com 3,218.05 -1.37 -0.04

 

Net Inflow (Cr) FII DII
28-Sep-2020 -26.98 542.34
29-Sep-2020 -1,456.66 576.5
30-Sep-2020 -712.48 409.47
01-Oct-2020 1,632.25 259.46
Total -563.87 1787.77

 

Top Gainers Closing Price Prev Close Chg (%)
Indusind Bank 592.2 490.25 20.80
Bajaj Finance 3442.8 3028.9 13.67
Indiabull hsg 156.5 138.8 12.75
Adani Ports 353.3 313.75 12.61
Zee Ent. 214.0 190.35 12.42

 

Top Losers Closing Price Prev Close Chg (%)
BPCL 353.30 377.25 -6.35

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Economic News:

  • After contracting for six months in a row, the country’s exports grew by 5.27% year-on-year to $27.4 billion in September, while imports slipped by 19.6% to $30.31 billion, according to the commerce ministry data released on Friday. The trade deficit during the month under review narrowed to $2.91 billion as against $11.67 billion in the same period of 2019. The exports in September last year stood at $26.02 billion. Exports during April-September this fiscal dipped by 21.43% to $125.06 billion. Imports during the period stood at $148.69 billion, recording a negative growth of 40.06%.

 

  • India’s foreign exchange reserves declined by $3.017 billion to $542.021 billion in the week ended Sept. 25 after touching a lifetime high in the previous week, RBI data showed on Friday. In the week ended Sept. 18, the reserves had increased by $3.378 billion to a record $545.038 billion. During the reporting week, the decline in the forex kitty was mainly due to a fall in foreign currency assets, a major component of the overall reserves. FCAs decreased by $1.523 billion to $499.941 billion, the central bank data showed.

Industry News:

  • The central government, in an affidavit filed in the Supreme Court, has supported waiving compound interest or ‘interest on interest’ for small ticket loans up to Rs 2 crore. The government’s response came in the matter of Gajendra Sharma vs. Union of India being argued in the apex court. In its affidavit, the government said that it has decided to continue the tradition of “handholding” the small borrowers. “The government, therefore, has decided that the relief on waiver of compound interest during the six month moratorium period shall be limited to the most vulnerable category of borrowers. This category of borrowers, in whose case, the compounding of interest will be waived, will be MSME loans and personal loans up to Rs 2 crore.”

 

  • Germany said on Friday it will hold talks with India on October 6 on how to resume passenger flight operations between the two countries. “We have received signals that India is also interested in a quick and satisfactory solution for both sides,” the German Ministry of Transport and Digital Infrastructure (BMVI) told PTI. On Tuesday, Lufthansa had announced cancellation of all “planned flights” between India and Germany from September 30 to October 20 because of an “unexpected rejection” of its flight schedule by the Indian authorities.

Company News:

  • Singapore’s GIC and private equity firm TPG will invest a combined Rs 7,350 crore in the retail unit of Reliance Industries Ltd. as billionaire Mukesh Ambani continues to mop up funds for his businesses. GIC, a global investment firm, will pick 1.22% stake in Reliance Retail Ventures Ltd. for Rs 5,512.5 crore, according to a Reliance statement. TPG will invest Rs 1,837.5 crore for 0.4% in the holding company of India’s largest retail chain. Ambani is replicating the fundraising spree seen in the digital business. He has now brought in six investors in the retail unit, raising Rs 32,197.5 crore by selling 7.1% so far.

 

  • Reliance Industries Ltd.’s subsidiaries and billionaire Mukesh Ambani’s investment firms will fund the group’s fibre infrastructure investment trust as the conglomerate has so far failed to find investors for fibre assets Reliance Industrial Investments and Holdings Ltd., a wholly owned subsidiary of billionaire Mukesh Ambani-controlled Reliance, will be the sponsor of Digital Fiber Investment Trust, according to InvIT’s filing with the regulator. The InvIT plans to raise nearly Rs 39,706 crore by selling units to group and promoter firms and taking a loan.

 

  • Dr Reddy’s Laboratories has applied to the Drugs Controller General of India for permission to conduct phase-3 human clinical trials of the Russian vaccine Sputnik V against Covid-19 in India, sources said. The Indian pharma giant has collaborated with The Russian Direct Investment Fund to conduct clinical trials of Sputnik V as well as its distribution. Upon regulatory approval in India, RDIF will supply to Dr Reddy’s with 100 million doses of the vaccine, the drugmaker said last month.

Global News:

  • The Democratic-controlled US House of Representatives has approved a new fiscal stimulus package worth $2.2tn, but the move failed to break the political deadlock over additional relief for the American economy.

 

  • S. stock futures extended losses on Friday after President Donald Trump said he and his wife had tested positive for the coronavirus, weeks ahead of elections. Futures for the S&P 500 EScv1 slid 1.21% by early afternoon in Asia, while Treasury yields also fell. U.S. dollar rose, particularly against the British pound, the Australian and New Zealand dollars in a sign of risk aversion.

(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
ANANTRAJ 06-Oct-20 Spin Off SMGOLD 08-Oct-20 Bonus issue 1:2
SGRL 06-Oct-20 Bonus issue 3:26 VIVIDM 08-Oct-20 Bonus issue 26:10
GDL 07-Oct-20 Interim Dividend – Rs. – 2.00 CHDCHEM 09-Oct-20 Interim Dividend
KDML 07-Oct-20 Bonus issue 1:1 SHUBHAM 09-Oct-20 Bonus issue 1:1

Source: BSE, Elite wealth Research

Upcoming Board Meetings

Symbol Purpose BM Date Symbol Purpose BM Date
AKI A.G.M.;General 05-Oct-20 PERVASIVE Rights Issue 07-Oct-20
BETALA Quarterly Results 05-Oct-20 TCS Interim Dividend;Quarterly Results 07-Oct-20
CHDCHEM General 05-Oct-20 UNITY Audited Results 07-Oct-20
ELAND Voluntary Delisting of Shares 05-Oct-20 URJAGLOBA Right Issue of Equity Shares;General 07-Oct-20
GAMMNINFRA Quarterly Results 05-Oct-20 5PAISA Quarterly Results 08-Oct-20
HIPPOCABS General 05-Oct-20 ALPHA Quarterly Results 08-Oct-20
MLKFOOD Scheme of Arrangement 05-Oct-20 GMBREW Quarterly Results;General 08-Oct-20
PVR General 05-Oct-20 INDLEASE A.G.M.;General 08-Oct-20
RATHIST Audited Results;Quarterly Results 05-Oct-20 MOTOGENFIN A.G.M.;General 08-Oct-20
RRMETAL General 05-Oct-20 TWL Audited Results 08-Oct-20
SUPRAP General 05-Oct-20 ICSL Quarterly Results 09-Oct-20
UTTAMSTL Quarterly Results 05-Oct-20 INDIANACRY Quarterly Results 09-Oct-20
TI Quarterly Results 06-Oct-20 MPILCORPL General 09-Oct-20
ICICIPRULI General 07-Oct-20 RCF Audited Results;General 09-Oct-20
MIC Audited Results 07-Oct-20 SSWL Quarterly Results 09-Oct-20
MJCO Audited Results;Quarterly Results 07-Oct-20 HFCL Quarterly Results 10-Oct-20
NGIL A.G.M.;General 07-Oct-20 RRIL Quarterly Results 10-Oct-20

Source: BSE, Elite wealth Research

Major Economy Indicators

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