Indian Market Outlook:

The Key benchmark indices rose over 2 percent during the week on the back of vaccine news, better than expected GDP data for the September quarter as well as dovish commentary by the Reserve Bank of India (RBI) back home despite rise in the inflation forecast to boost growth. Sensex touched a lifetime high of 45,148 and Nifty hit an all-time high of 13,280. Nifty ended the week 2.23 percent higher at 13258 points while Sensex ended 2.11 percent higher at 45079 points. The rally was also supported by the Broder Market also. BSE Midcap index ended 2.11 percent higher, while the BSE Small cap index rose 2.62 percent, during the course of the week. Foreign Institutional Investors were the net buyers during the week; bought equities worth Rs.10206 crore while the DIIs were the net sellers of Rs.6090 crore. The RBI projected CPI inflation at 6.8% for the third quarter FY21. Real GDP growth projection for FY21 revised to -7.5% from -9.5% earlier. GDP growth seen at 0.1% in Q3 FY21 and 0.7% in Q4 FY21. GST collection crossed the Rs. 1-lakh-crore-mark for the second consecutive month with consumption picking up amid the festive season after gradual easing of lockdown restrictions. Going forward, on macro front manufacturing data and CPI Inflation is to be released next week. Further updates on the vaccine developments and revised discussions regarding US stimulus can inject more optimism into the global markets. Burger King India IPO subscribed to more than 157 times. The allotment of Burger king shares will be announced on 9 December, shares will start trading on 14 December.

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Latest Spot Price (in US $)

Precious Metal Current Price Change (%) 3 Month 6 Month       1 Year
Gold 1842.10 3.31 -5.08 8.24 22.44
Silver 24.31 7.19 -10.10 35.89 42.33
Platinum 1070.50 10.25 3.16 32.26 18.94
USD/INR 73.77 -0.22 -0.19 -2.37 3.22
Crude 46.09 1.23 18.94 16.54            -21.12

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Global Weekly Events

Date Region Event Description Forecast Previous
Dec 09,2020 USD Crude Oil Inventories -2.358 -0.679
Dec 10,2020 GBP GDP (MoM) 1.1%
Dec 10,2020 USD Core CPI (MoM) (Nov) 0.1% 0.2%
Dec 11,2020 INR Industrial Production (YoY)         – 0.2%
Dec 11,2020 INR CPI (YoY) 7.61
Dec 11,2020 USD PPI (MoM) (Nov) 0.2% 0.3%

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 1.48% 1.32%
Consumer Price Index 7.61% 7.27%
 Trade Data Export ($ Million) 23430 24890
Import ($ Million) 33390 33600
 Industry IIP 0.2% -8.0%

 

Domestic Indices Closing(4th November) Change %Change
BSE Sensex 45,079.55 929.83 2.11
Nifty 13,258.55 289.60 2.23
Mid Cap 17,389.02 474.37 2.80
Small Cap 17,317.29 442.14 2.62
Bank Nifty 30,052.40 443.35 1.50

 

Global Indices Closing(4th

November)

Change %Change
Dow Jones 30,218.26 307.89 1.03
Nasdaq 12,464.23 258.38 2.12
FTSE 6,550.23 182.65 2.87
Nikkei 26,751.24 106.53 0.40
Hang Seng 26,835.92 -58.76 -0.22
Shanghai Com 3,444.58 36.27 1.06

 

Net Inflow (Cr) FII DII
01-Dec-2020 3,242.00 -1,043.21
02-Dec-2020 357.35 -1,635.97
03-Dec-2020 3637.42 -1,439.74
04-Dec-2020 2,969.59 -1,971.60
Total 10,206.36 -6,090.52

 

Top Gainers Closing Price Prev Close Chg (%)
GAIL 119.8 102.75 16.59
Asian Paints 2438.75 2155.30 13.15
ONGC 89.85 80.20 12.03
Maruti Suzuki 7803.1 6994.25 11.57
Sun Pharma 569.05 511.70 11.21

 

Top Losers Closing Price Prev Close Chg (%)
HDFC Bank 1385.6 1426.65 -2.88
Kotak Mahindra Bank 1846.25 1889.10 -2.27
Power Grid        194.35 197.65 -1.60
Reliance Ind. 1946.75 1952.60 -0.13

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Economic News:

  • India’s Monetary Policy Committee kept its benchmark policy rate unchanged as inflation remained above its target even though the economy continued to contract. After a review, the committee unanimously voted to keep repo rate unchanged at 4%. The central bank that controls the reverse repo rate separately decided to keep it unchanged at 3.35%. real GDP growth is projected at -7.5% in 2020-21. GDP is estimated to grow by 0.1% in Q3 FY21 and by 0.7% in Q4 FY21. It is estimated to grow by 21.9-6.5% in the first half of the next financial year, with risks broadly balanced.

 

  • Consumer confidence in India improved slightly from a record low but citizens remained pessimistic over the economic situation, employment, price and income, according to a survey by the central bank. The current situation index rose to 52.3 in November from 49.9 in September, a record low, the Reserve Bank of India’s consumer confidence survey showed. An index value below 100 represents pessimism, while a reading above 100 signals optimism

Industry News:

  • The outlook Bank credit grew at 5.82 % to Rs 104.34 lakh crore, while deposits rose by 10.89 % to Rs 143.71 lakh crore in the fortnight ended November 20, the RBI data showed. In the fortnight ended November 22, 2019, bank credit stood at Rs 98.60 lakh crore and deposits at Rs 129.58 lakh crore. In the previous fortnight ended November 6, advances grew by 5.67 % and deposits by 10.63 %.

 

  • Honey brands under scrutiny including Dabur, Patanjali and Emami’s Zandu have swung into damage control mode and are escalating advertising with increased and new campaigns on mainstream and social media to allay consumer fears, after research and advocacy firm Centre for Science and Environment (CSE) said in a report on Wednesday that these brands are adulterated with sugar syrup.

 

  • The Telecom Regulatory Authority of India (Trai) on Friday directed all telcos to share within 15 days the details of their segmented offers made between January and November 2020, including specific offer names, rates, terms & conditions, quantum of services, validity spans and associated benefits.

 

Company News:

  • Ubs Principal Capital Asia Ltd on Friday sold more than 20 lakh shares of IndusInd Bank Ltd worth Rs 184 crore via open market transaction. As per the data available on BSE Block deal, Ubs Principal Capital Asia offloaded 20,70,000 shares of the bank at an average price of Rs 891.4 apiece, valuing the transaction at Rs 184.51 crore. The shares of IndusInd Bank were purchased by BofA Securities Europe SA at the same price, the data showed

 

  • HDFC Bank Ltd.’s internet banking services for some users went down a day after the regulator penalized the second-largest Indian lender for repeated technical glitches. The bank said online payments via the Unified Payments Interface were down for 30 minutes on Friday, though customers tweeted of being locked out from some services of net banking for several hours during the day. Separately, State Bank of India, the nation’s biggest lender by assets, also reported glitches at its online platform.

 

  • Burger King India Ltd recorded the second-most successful initial public offering of 2020 as investors subscribed to more than 157 times the number of shares on offer in a buoyant stock market. The quick service restaurant chain’s IPO performance almost matched state-run Mazagon Dock Shipbuilders’ share sale in October which was subscribed more than 157.41 times. Burger King’s ₹810 crore IPO received bids of 11.67 billion shares, against the 74.49 million on offer, showed data received till 5pm on Friday, the final day of bidding.

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.

 

  • The U.S. labor-market rebound slowed markedly in November, indicating the surge in Covid-19 cases is hitting workers and curbing the broader economic recovery. Nonfarm payrolls increased by 245,000 from the prior month and the unemployment rate edged down to 6.7%, the Labor Department said 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
KSE 07-Dec-20 Final Dividend – Rs. – 20.00 LEX 10-Dec-20 E.G.M.
MULTIIN 08-Dec-20 Final Dividend – Rs. – 0.20 RUSHIL 10-Dec-20 Final Dividend – Rs. – 0.50
RVNL 08-Dec-20 Dividend – Rs. – 1.1400 SBTL 10-Dec-20 Reduction of Capital
HATSUN 09-Dec-20 Bonus issue 1:3 SHAHLON 10-Dec-20 Dividend – Rs. – 0.2500
ICSL 09-Dec-20 E.G.M. WIPRO 10-Dec-20 Buy Back of Shares
GARFIBRES 10-Dec-20 Buy Back of Shares MANAS 11-Dec-20 E.G.M.
INFIBEAM 10-Dec-20 Spin Off ZSWASTSA 11-Dec-20 Dividend – Rs. – 1.00

Source:BSE, Elite wealth Research

Upcoming Board Meetings

Symbol Purpose BM Date Symbol Purpose BM Date
ADITRI General 07-Dec-20 BGIL A.G.M.;General 08-Dec-20
AIHL General 07-Dec-20 BGLOBAL A.G.M.;General 08-Dec-20
CHOTHANI A.G.M.;General 07-Dec-20 BLCISER General 08-Dec-20
DIAMANT General 07-Dec-20 BRAHMINFRA General 08-Dec-20
DRA General 07-Dec-20 IISL A.G.M.;General 08-Dec-20
GBLINFRA A.G.M.;General 07-Dec-20 KAVVERITEL A.G.M.;General 08-Dec-20
GENERAAGRI A.G.M.;General 07-Dec-20 MINDSPACE General 08-Dec-20
GOODYEAR Interim Dividend 07-Dec-20 POLYMED General 08-Dec-20
IL&FSTRANS Audited Results 07-Dec-20 REALECO A.G.M.;General 08-Dec-20
JAINCO A.G.M.;General 07-Dec-20 SYTIXSE General 08-Dec-20
KOHINOOR A.G.M. 07-Dec-20 VELJAN A.G.M.;General 08-Dec-20
LADIAMO A.G.M.;General 07-Dec-20 XTGLOBAL General 08-Dec-20
MAHIP Half Yearly Results 07-Dec-20 EUREKAI A.G.M.;General 09-Dec-20
MIDESTI-B Audited Results;A.G.M. 07-Dec-20 HAL Interim Dividend 09-Dec-20
NTL General 07-Dec-20 MAWANASUG General 09-Dec-20
PARABDRUGS Quarterly Results 07-Dec-20 PARINFRA Audited Results;Quarterly Results 09-Dec-20
RAP A.G.M.;General 07-Dec-20 SICLTD Quarterly Results 09-Dec-20
SAMYAKINT A.G.M.;General 07-Dec-20 STARLINE General 09-Dec-20
SGARRES Audited Results;A.G.M. 07-Dec-20 UNITINT A.G.M.;General 09-Dec-20
SOFTSOL Buy Back of Shares;General 07-Dec-20 ECORECO Quarterly Results 10-Dec-20
SUJANAUNI General 07-Dec-20 GOBLIN General 10-Dec-20
UCALFUEL A.G.M.;General 07-Dec-20 HATSUN Bonus issue 11-Dec-20
VSL A.G.M.;General 07-Dec-20 AMITINT General 12-Dec-20
BALLARPUR Audited Results;Quarterly Results 08-Dec-20 REVATHI Scheme of Arrangement;General 12-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

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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