The Key benchmark indices rose over 2% over the week led by record close in Reliance Industries. The rally is also supported by hopes of a Covid-19 vaccine coming to everyone’s rescue earlier than expected. The Nifty ending the week 2.16 percent higher at 10607 points while Sensex ended 2.42 percent higher at 36021 points. The broader market underperforms the benchmark indices. The BSE Midcap index ended 0.23 percent higher, while the BSE Small cap index fell 0.22 percent, during the course of the week. Market heavyweight Reliance Industries climbed 2.65% to an all-time closing high after the investment arm of US chipmaker Intel decided to pay some $255 million to buy a 0.39% stake in the digital unit, Jio Platforms. Foreign Institutional Investors were the net sellers during the week; sell equities worth Rs.5333 crore while the DIIs were the net buyers of Rs.5041 crore. On Economic front Urban India has been impacted more by the aftermath of lockdown compared with rural India, which has been witnessing faster recovery and return to normalcy. Auto sales numbers, too, paint a similar picture. Going Forward, Markets are expected to remain sideways and range-bound, unless some dramatic triggers turn the wheel either up or down. On Macro front ISM Non-Manufacturing PMI (Jun) of US, Industrial Production (YoY) (May) of India are key data releases scheduled for next week.

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Latest Spot Price (in US $)

Precious Metal Current Price Change (%) 3 Month 6 Month       1 Year
Gold 1,787.60 0.16 5.57 13.07 24.74
Silver 18.31 2.01 26.02 1.78 17.52
Platinum 825.80 2.71 13.95 -18.16 -1.43
USD/INR 74.64 -1.30 -1.75 3.85 8.35
Crude 40.28 5.45 54.45 -36.34 -28.39

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Global Weekly Events

Date Region Event Description Forecast Previous
Jul 06,2020 USD ISM Non-Manufacturing PMI (Jun) 50.0 45.4
Jul 06,2020 GBP Construction PMI (Jun) 47.0 28.9
Jul 08,2020 USD Crude Oil Inventories -0.710M -7.195M
Jul 10,2020 INR Industrial Production (YoY) (May) -34.0% -18.3%
Jul 10,2020 USD PPI (MoM) (Jun) 0.4% 0.4%

Domestic Economy Indicators

Heading Indicators Current Previous
 RBI Policy Rate Policy Repo Rate 4.00% 4.40%
Reserve Policy Rate 3.25% 3.75%
  Bank Rate 4.25% 4.65%
 Reserve Ratio CRR 3% 4%
SLR 18.00% 18.25%
 Inflation Rate Wholesale Price Index 0.00% 1.00%
  Consumer Price Index 5.68% 5.91%
 Trade Data Export ($ Million) 19050 10360
Import($ Million) 22200 17120
 Industry IIP -16.7% 4.6%

 

Domestic Indices Closing(3rd July) Change %Change
BSE Sensex           36,021.42 850.15 2.42
Nifty 10,607.35 224.35 2.16
Mid Cap 13,288.70 30.26 0.23
Small Cap 12,603.02 -27.26 -0.22
Bank Nifty 21,852.50 260.45 1.21

 

Dow Jones25,827.36811.813.25

Global Indices Closing(3rd July) Change %Change
Nasdaq 10,207.63 450.41 4.62
FTSE 6,157.30 -2.00 -0.03
Nikkei 22,306.48 -205.60 -0.91
Hang Seng 25,373.12 823.13 3.35
Shanghai Com 3,152.81 173.26 5.81

 

Net Inflow (Cr) FII DII
29-Jun-2020 -1,937.06 1,036.13
30-Jun-2020 -2,000.08 2,051.31
01-Jul-2020 -1,696.45 1,377.13
02-Jul-2020 -556.72 908.64
03-Jul-2020 857.29 -331.96
Total -5,333.02 5,041.25

 

Top Gainers Closing Price Prev Close Chg (%)
Hero MotoCorp 2738.25 2540.45 7.79
HDFC 1885.20 1769.35 6.55
ITC 207.55 195.20 6.33
M & M 530.50 501.40 5.80
Adani Ports 360.40 343.20 5.01

 

Top Losers Closing Price Prev Close Chg (%)
Coal India 135.25 142.10 -4.82
Vedanta 106.45 109.95 -3.18
Hindalco 146.40 151.05 -3.08
NTPC 94.50 97.00 -2.58
Zee Ent. 172.25 176.25 -2.27
 

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Economic News:

  • A gauge of India’s services sector indicated some improvement in activities as the nation eased the restrictions imposed to contain the coronavirus pandemic. The India Services Business Activity Index, compiled by IHS Markit, stood at 33.7 in June compared with 12.6 in May, according to a media statement. A reading below 50, however, indicates contraction in business activity. The Composite PMI Output Index, measuring combined services and manufacturing output, rose to 37.8 in June from 14.8 in May. Still, it remains below the crucial 50.0 level.

 

  • India has accumulated the world’s fifth-largest foreign exchange reserves at more than $500 billion, making it a bright spot in an otherwise dismal economy. The reserves were bolstered by a rare current-account surplus in the first quarter, a return of inflows into the local stock market and foreign direct investment, including into a unit of Reliance Industries Ltd., India’s largest company by revenue. That allowed the central bank to mop up close to $25 billion in foreign exchange to add to its reserves in the quarter through June, according to analysts such as Anubhuti Sahay, chief India economist at Standard Chartered Plc in Mumbai.

 Industry News:

  • The reopening of commercial passenger flight services in a phased manner is not expected to help in recovery of domestic aviation industry in FY21, a report said. The domestic air traffic may shrink by 41-46 per cent and international travel demand by a negative 67-72 per cent year-on-year owing to the coronavirus pandemic, rating agency ICRA said on Friday. The domestic passenger flight services restarted from May 25 after a gap of two months owing to the coronavirus lockdown. The international operations, however, remained suspended since March 22 for similar reasons.

 

  • In a major push to organic farming in the country, the Agriculture Ministry has proposed to double the allocation for the sector to Rs 1,300 crore annually. The Centre has provided Rs 660 crore to support the sector in its budget estimate (BE) for FY21. In a presentation to the Fifteenth Finance Commission, the Agriculture Ministry has proposed to bring additional 25 lakh hectares under organic farming in the next 5 years. The current organic farming coverage of 28 lakh hectares is a measly 2% of the total farm land. The government has been promoting organic farming in the country through various central schemes. The move is aimed at reducing the use of chemical fertilisers, pesticides and growth regulators.

   Company News:

  • Indiabulls Housing Finance has reported a 37 per cent decline in pre-tax profit for the March quarter (Q4FY20), on a stand-alone basis. The fall was driven by extra provisions made on account of Covid-19. The lender reported pre-tax profit of Rs 789 crore in Q4, against Rs 1,252 crore in the same period last year. Net profit declined 20.77 per cent to Rs 693.53 crore, from Rs 875.39 crore. The lender made extra provisions of Rs 700 crore, equivalent to 1 per cent of the loan book. It has raised more than Rs 9,000 crore in the last three months via bond issuances, term loans from banks, and securitisation. The amount raised in the last three months represents 12.5 per cent of total liabilities.

 

  • India is planning to launch the Covid-19 vaccine by August 15 this year, according to the head of the Indian Council of Medical Research (ICMR), the country’s premier, state-run medical research organisation. Bharat Biotech, which is developing the vaccine, said in a statement: “We are working towards a safe and efficacious solution for Covid-19 and public health. Bharat Biotech will continue to abide to all necessary quality standards and safety guidelines towards vaccine clinical development.”

 

  • In a major relief to Bharat Sanchar Nigam Ltd (BSNL), the government has received presidential approval for increasing the company’s borrowing limit from Rs 31,213 crore to Rs 39,713 crore, and that includes raising Rs 8,500 crore through a sovereign guarantee bond in FY21, but with stiff riders. The approval is the key to BSNL’s turnaround plan, which includes setting up a 4G network so that it can compete with private competitors. Currently it has only a 10.32 per cent share of the Indian mobile market as of February this year.

Global News:

  • The U.K. economic slump showed signs of easing in June as parts of the coronavirus lockdown were lifted, allowing more people to return to work. IHS Markit’s composite Purchasing Managers Index climbed to 47.7 from 30 in May. That’s slightly better than the flash estimate, but still below the 50 mark that separates expansion from contraction.
  • The U.S. labor market made greater progress than expected last month digging out of a deep hole, yet optimism over the rebound was tempered by stubbornly high layoffs and a resurgent coronavirus outbreak across the country. While President Donald Trump said the jobs figures proved the economy is “roaring back,” the pace of recovery may slow or even stall if employers grow cautious and delay rehiring workers — in fact, some have already been laid off a second time.

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

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Forthcoming Corporate Actions

Security Name Ex-Date Purpose Security Name     Ex-Date Purpose
ITC 6-Jul-20 Dividend – Rs. – 10.1500 MAYURUNIQ 8-Jul-20 Final Dividend – Rs. – 1.00
JSWSTEEL 6-Jul-20 Final Dividend – Rs. – 2.00 ONWARDTEC 8-Jul-20 Final Dividend – Rs. – 1.50
MINDTREE 6-Jul-20 Final Dividend – Rs. – 10.00 ADVENZYMES 9-Jul-20 Final Dividend – Rs. – 0.60
ASMTEC 7-Jul-20 Final Dividend – Rs. – 2.50 HDFC 9-Jul-20 Dividend – Rs. – 21.00
SAGARSOFT 7-Jul-20 Dividend – Rs. – 1.50 HDFCAMC 9-Jul-20 Dividend – Rs. – 28.00
BOMDYEING 8-Jul-20 Dividend – Rs. – 0.20 LTI 9-Jul-20 Final Dividend – Rs. – 15.50
LTTS 8-Jul-20 Final Dividend – Rs. – 13.50

Source: BSE, Elite wealth Research

Upcoming Board Meetings

Symbol Purpose    BM Date Symbol Purpose  BM Date
ASIIL Audited Results 6-Jul-20 YAMNINV Audited Results;General 7-Jul-20
BALTE Audited Results 6-Jul-20 ASAL Audited Results 8-Jul-20
BCLIL Audited Results 6-Jul-20 DISHTV Audited Results 8-Jul-20
BMW Audited Results 6-Jul-20 KOKUYOCMLN Audited Results;Dividend 8-Jul-20
BODALCHEM A.G.M.;General;Quarterly Results 6-Jul-20 MAL Audited Results 8-Jul-20
BRIJLEAS Audited Results 6-Jul-20 NGIL Audited Results;General 8-Jul-20
DCW Audited Results 6-Jul-20 PRECISION Quarterly Results 8-Jul-20
DYNAMIND Audited Results;Final Dividend 6-Jul-20 PRIMECAPM Audited Results 8-Jul-20
ECLERX Buy Back of Shares 6-Jul-20 PROZONINTU Audited Results 8-Jul-20
HARME General;Quarterly Results 6-Jul-20 REGAL Audited Results 8-Jul-20
HPCOTTON Audited Results 6-Jul-20 RMCL Audited Results 8-Jul-20
IFBAGRO Audited Results 6-Jul-20 SALORAINTL Audited Results 8-Jul-20
IFBIND Audited Results 6-Jul-20 SKYIND Audited Results 8-Jul-20
IFINSEC Audited Results;General 6-Jul-20 SOUTHBANK Quarterly Results 8-Jul-20
IMCAP Audited Results 6-Jul-20 SWELECTES Audited Results;Final Dividend;General 8-Jul-20
INOVSYNTH Audited Results 6-Jul-20 VSL General;Preferential Issue of shares 8-Jul-20
JMDVL Audited Results 6-Jul-20 YASHRAJC A.G.M.;General 8-Jul-20
KEMISTAR Audited Results 6-Jul-20 ARIHCAPM Audited Results;Dividend;General 9-Jul-20
MASCH Quarterly Results 6-Jul-20 AUSTENG Audited Results 9-Jul-20
MDRNTHR-B Quarterly Results 6-Jul-20 CNOVAPETRO Audited Results 9-Jul-20
MEHAI Audited Results 6-Jul-20 HPL Audited Results;Final Dividend 9-Jul-20
MEHIF Audited Results;General 6-Jul-20 INTECCAP Audited Results 9-Jul-20
MEHSECU Audited Results;General 6-Jul-20 KABRADG General 9-Jul-20
MEHTAHG Audited Results;General 6-Jul-20 RANDER Audited Results;General 9-Jul-20
MHLXMIRU Audited Results 6-Jul-20 SADBHAV Audited Results;Final Dividend 9-Jul-20
NBCC Audited Results;Final Dividend 6-Jul-20 SWARNSAR Audited Results 9-Jul-20
NYSSACORP Audited Results 6-Jul-20 TCS Interim Dividend;Quarterly Results 9-Jul-20
PVR Right Issue;General 6-Jul-20 TREEHOUSE Audited Results 9-Jul-20
RESTILE Quarterly Results 6-Jul-20 VASINFRA A.G.M.;General 9-Jul-20
SADBHIN Audited Results 6-Jul-20 ALFL Audited Results 10-Jul-20
SUZLON Audited Results;Quarterly Results 6-Jul-20 APIS Dividend on Preference Shares; Results 10-Jul-20
UNISON Quarterly Results 6-Jul-20 ASHAPURMIN Audited Results 10-Jul-20
VMV Audited Results 6-Jul-20 ASHUTPM Audited Results 10-Jul-20
WELCURE Quarterly Results 6-Jul-20 BMBMUMG Audited Results 10-Jul-20
ZHINUDYP Audited Results 6-Jul-20 CARNATIN Audited Results 10-Jul-20
ZMULTIPU Audited Results 6-Jul-20 FCONSUMER Audited Results 10-Jul-20
ZPRBHSTE General;Quarterly Results 6-Jul-20 HIMFIBP Audited Results 10-Jul-20
ADSDIAG General;Quarterly Results 7-Jul-20 IRCTC Audited Results;Final Dividend 10-Jul-20
AGIOPAPER Audited Results 7-Jul-20 JAYSHREETEA Audited Results;General 10-Jul-20
AINFRA Final Dividend;Quarterly Results 7-Jul-20 JOLYPLS Audited Results 10-Jul-20
BAZELINTER Audited Results 7-Jul-20 KANCOTEA Audited Results 10-Jul-20
BESTAGRO Results;Final Dividend;General 7-Jul-20 KRANTI Audited Results 10-Jul-20
BESTEAST Audited Results;General 7-Jul-20 KTKBANK Quarterly Results 10-Jul-20
BHANDERI Audited Results 7-Jul-20 MEERA Audited Results 10-Jul-20
GBGLOBAL Audited Results 7-Jul-20 NITINCAST Audited Results 10-Jul-20
GKB Audited Results 7-Jul-20 PDSMFL Audited Results 10-Jul-20
GUJCRAFT Audited Results;Quarterly Results 7-Jul-20 PERVASIVE Audited Results;General 10-Jul-20
IMCAP Audited Results 7-Jul-20 RCL Audited Results;Quarterly Results 10-Jul-20
INDIANACRY Quarterly Results 7-Jul-20 RODIUM Audited Results 10-Jul-20
ISTLTD Audited Results 7-Jul-20 RRFIN Audited Results;Quarterly Results 10-Jul-20
JSHL General 7-Jul-20 SANPA Audited Results 10-Jul-20
KFL General 7-Jul-20 SDL A.G.M.; Dividend;General; Results 10-Jul-20
KGPETRO Audited Results 7-Jul-20 SOMICONV Audited Results;General 10-Jul-20
MTPL Audited Results;Quarterly Results 7-Jul-20 SOTL Audited Results;Final Dividend 10-Jul-20
OMANSH Audited Results 7-Jul-20 SRIOMTR Audited Results 10-Jul-20
PAOS Audited Results;Quarterly Results 7-Jul-20 STDSFAC Audited Results 10-Jul-20
PIIND General 7-Jul-20 SVAMSOF Audited Results 10-Jul-20
POLYMAC Audited Results;Dividend 7-Jul-20 UNITEDTE Audited Results 10-Jul-20
RENUKA Audited Results 7-Jul-20 VARDMNPOLY Audited Results 10-Jul-20
ROOPAIND Audited Results 7-Jul-20 VARIMAN Audited Results 10-Jul-20
SHUKJEW Audited Results 7-Jul-20 VISHAL Audited Results 10-Jul-20
SUJANAUNI Audited Results 7-Jul-20 COASTCORP Audited Results 11-Jul-20
TITAANIUM Audited Results 7-Jul-20 INDTONER Audited Results 11-Jul-20
VASWANI Audited Results 7-Jul-20 JASCH Quarterly Results 11-Jul-20

Source: BSE, Elite wealth Research 

Major Economy Indicators

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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


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