Indian Market Outlook

The Key benchmark indices rose over two percent over the week however fell 1.83  percent in last two consecutive days due to rising 10 Year US bond yields. The 10-year U.S. bond yield hit a new one-year high of 1.626%. Another factor weighing on investor sentiment is the rise in crude oil prices. Brent crude touched $69 a barrel this week rose 5.15% over the week. Nifty ended the week 2.81 percent higher at 14938 points while Sensex ended 2.66 percent higher at 50405 points. Broader market outperformed the key benchmark indices. BSE Midcap index ended 3.05 percent higher, while the BSE Small cap index rose 3.87 percent, during the course of the week. Foreign Institutional Investors were the net buyers during the week; bought equities worth Rs.2199 crore while the DIIs were the net sellers of Rs.2635 crore. Bank Nifty underperformaed the key benchmark indices during the week.  A rise in bond yields brings market losses for banks on their bond holdings. Auto sales numbers for February 2021 have been fairly positive with passenger vehicle makers posted impressive double-digit YoY growth. GDP grew 0.4% YoY in 3QFY21, primarily because of downward revision from 4.1% to 3.3% in 3QFY20. Without base revision, there was a decline of 0.6% YoY in the quarter.Going forward In the coming week, the market will be mainly focusing on the expectations on whether the Fed, in its upcoming meeting on (March 16-17), will maintain its accommodative stance in a rising bond yield market. On Macro Front CPI Inflation for February 2021 and Industrial Production for January 2021 would be announced on 12th March, 2021.

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Latest Spot Price (in US $)

Precious Metal Current Price Change (%) 3 Month 6 Month      1 Year
Gold 1,698.00 -1.78 -9.00 -12.50 1.05
Silver 25.28 -4.39 4.25 9.44 44.95
Platinum 1,133.30 -4.99 7.01 36.69 24.35
USD/INR 73.19 -0.99 -0.85 -0.34 -0.42
Crude 66.26 7.74 44.80 70.99 44.36

 

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Global Weekly Events

Date Region Event Description Forecast Previous
Mar 10,2021 USD Core CPI (MoM) (Feb) 0.2% 0.1%
Mar 10,2021 USD Crude Oil Inventories  – 21.563M
Mar 12,2021 GBP GDP (QoQ)  – 1.0%
Mar 12,2021 INR Industrial Production (YoY) (Jan)       -0.2%      1.0%
Mar 12,2021       INR  CPI (YoY) (Feb) 4.45% 4.06%
Mar 13,2021       USD  US Federal Budget -430.0B

 

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 2.03% 1.22%
Consumer Price Index 4.06% 4.59%
 Trade Data Export ($ Million) 27450 27240
Import($ Million) 40550 41990
  IIP 1% -2.1%
Source: Financial Express, Investing, NDTV, BSE, Livemint,Economic Times

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Domestic Indices Closing(5th March) Change %Change
BSE Sensex 50,405.32 1,305.33 2.66
Nifty 14,938.10 408.95 2.81
Mid Cap 20,587.80 609.15 3.05
Small Cap 20,936.02 780.67 3.87
Bank Nifty 35,228.15 424.55 1.22

 

Global Indices Closing(5th

March)

Change %Change
Dow Jones 31,496.30 563.93 1.82
Nasdaq 12,920.15 -272.19 -2.06
FTSE 6,630.52 147.09 2.27
Nikkei 28,864.32 -101.69 -0.35
Hang Seng 29,098.29 233.97 0.81
Shanghai Com 3,501.99 -7.09 -0.20

 

Net Inflow (Cr) FII DII
01-Mar-2021 125.15 -194.88
02-Mar-2021 2,223.16 -854.04
03-Mar-2021 2,088.70 392.91
04-Mar-2021 -223.11 -788.19
05-Mar-2021 -2,014.16 -1,191.19
Total 2199.74 -2635.39
     

 

Top Gainers Closing Price Prev Close Chg (%)
Grasin Ind.   1339.35 1200.80 11.54
Ultratech Cement 6810.30 6115.00 11.37
Adani Ports        748.95 675.90 10.81
Zee Ent. 218.05 201.00 8.48
Kotak Mahindra Bank 1922.50 1780.35 7.98

 

Top Losers Closing Price Prev Close Chg (%)
Bharti Airtel   532.80 556.30 -4.22
Indusind Bank        1039.90 1062.95 -2.17
SBI 383.65 390.15 -1.67
Coal India 151.10 152.20 -0.72
Hindalco 337.85 340.25 -0.71

 

Economic News:

  • Only 40% of government bonds auctioned by the Reserve Bank of India since the Union Budget and the monetary policy review that followed have been bought by investors as part of primary auctions. The rest have either devolved on primary dealers or the sales have been partially cancelled. This, as the expectation on interest rates between the central bank and the markets continue to diverge. Data compiled by BloombergQuint showed that 43% of the bonds auctioned have devolved on primary dealers. Including auctions that were partly cancelled without being devolved, and securities where an additional amount was retained, the total amount raised is just 40.8% of what was up for auction.

  • The Indian central bank’s conventional as well as unconventional policy responses to support the economy through the pandemic failed to reduce the government’s borrowing costs by a lot, says a new study. Policy actions by the Reserve Bank of India have had only a modest impact on the ‘term premium’ –- an indicator of the market’s expectations of future interest rates, according to the research authored by Rajeswari Sengupta of the RBI-funded Indira Gandhi Institute of Development Research in Mumbai, and Harsh Vardhan of the SP Jain Institute of Management and Research. There were limits to which monetary policy alone could provide an economic stimulus during a crisis, they wrote in the ‘Ideas for India’ portal.

Industry News:

  • The government is considering launching a production linked incentive (PLI) scheme in the chemical sector to boost domestic manufacturing and exports. Addressing a webinar on ‘Implementation Strategy of Budget Announcement 2021-22’, Chemicals and Fertilisers Minister D V Sadananda Gowda on Friday said the government is working on a consultative approach in forming the policies for India’s chemicals and petrochemicals sector.

  • New models of all cars will have to provide airbags for the front passenger seat from April 1 while all existing models can be sold after August 31 this year, only after being fitted with this safety gear. This mandatory provision was notified by the road transport ministry on Tuesday. “This has been mandated as an important safety feature, and is also based on the suggestions of the Supreme Court Committee on Road Safety,” the ministry said.

Company News:

  • Lenders to Bhushan Power & Steel Ltd. have agreed to terms set by JSW Steel Ltd. for purchasing the assets of the insolvent steelmaker, according to two people with direct knowledge of the matter. A majority of the financial creditors on March 5 voted in favour of accepting JSW Steel’s Rs 19,350-crore offer for the sale, on a provisional basis, the people cited above told BloombergQuint on the condition of anonymity. A proposal needs at least 66% votes to be cleared by the committee of creditors.

  • Investment trust IndiGrid on Friday inked an agreement to acquire 100 per cent equity stake in NER II Transmission from Sterlite Power for about Rs 4,625 crore. The completion of acquisition would depend upon receipt of unitholders’ consent, regulatory and other relevant approvals, it said. “India Grid Trust (IndiGrid) signed share purchase agreement on March 5, 2021 for acquisition of 100 per cent shareholding and economic interest, in one or more tranches, in NER II Transmission Ltd from Sterlite Grid 4 Ltd,” a company statement said.

  • Multiplex major PVR on Friday announced the launch of a new six-screen property in Mysuru, Karnataka. “PVR Cinemas with this launch strengthens its presence in Karnataka with 109 screens in 16 properties and 292 screens across 47 properties in South. Located in the heart of India’s silk city, the new PVR Cinemas spreads across an area of 32,240 sq feet and can accommodate a total of 1,078 audiences,” the company said in a statement.

Global News:

  • S. employers added more jobs than forecast in February and the unemployment rate declined, suggesting the labor market is clawing its way forward again following several disappointing months. Payrolls increased 379,000 after an upwardly revised 166,000 January increase, according to a Labor Department report Friday. Economists in a Bloomberg survey projected a 200,000 February gain.

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

Forthcoming Corporate Actions

Security Name Ex-Date Purpose Security Name Ex-Date Purpose
POWERGRID 08-Mar-21 Interim Dividend – Rs. – 4.00 TRIOMERC 09-Mar-21 Stock  Split From Rs.10/- to Rs.2/-
SACHEMT 08-Mar-21 Bonus issue 1:10 DICIND 10-Mar-21 Final Dividend – Rs. – 6.00
TELESYS 08-Mar-21 E.G.M. KIRLFER 10-Mar-21 Interim Dividend – Rs. – 2.00
KEI 09-Mar-21 Interim Dividend – Rs. – 2.00 MARICO 10-Mar-21 Interim Dividend – Rs. – 4.50
SELMCL 09-Mar-21 Resolution Plan -Suspension WANBURY 10-Mar-21 E.G.M.
THANGAMAYL 09-Mar-21 Interim Dividend – Rs. – 6.00 WEPSOLN 10-Mar-21 Right Issue of Equity Shares
TRIOMERC 09-Mar-21 Bonus issue 1:6
Source:BSE, Elite wealth Research

Upcoming Board Meetings

Symbol Purpose BM Date Symbol Purpose BM Date
ANKITMETAL General 08-Mar-21 SCANSTL General 10-Mar-21
BIRLATYRES Quarterly Results 08-Mar-21 SHRIRAMEPC General 10-Mar-21
GOODLUCK General 08-Mar-21 SRMENERGY General 10-Mar-21
INDINFO General 08-Mar-21 TEJASSVI General 10-Mar-21
MOLDTEK Interim Dividend 08-Mar-21 VISIONCO Quarterly Results 10-Mar-21
MOLDTKPAC Interim Dividend 08-Mar-21 BASML General 11-Mar-21
NAGTECH General 08-Mar-21 CEETAIN General 11-Mar-21
PTIL A.G.M.;General 08-Mar-21 ENGINERSIN Interim Dividend 11-Mar-21
RLF General 08-Mar-21 NMDC Interim Dividend 11-Mar-21
AUTOLITIND Preferential Issue;Quarterly Results 09-Mar-21 RGL Interim Dividend 11-Mar-21
CONFIPET General 09-Mar-21 SVCIND General 11-Mar-21
DWL General 09-Mar-21 BDL Interim Dividend;General 12-Mar-21
INDIANB General 09-Mar-21 BFUTILITIE Quarterly Results 12-Mar-21
MCDHOLDING Quarterly Results 09-Mar-21 CHROMATIC Quarterly Results 12-Mar-21
MINDSPACE General 09-Mar-21 CONCRETE Quarterly Results 12-Mar-21
OSWALOR General 09-Mar-21 HATSUN General 12-Mar-21
RSYSTEMINT General 09-Mar-21 INDLEASE General 12-Mar-21
SBTL General 09-Mar-21 IRFC General 12-Mar-21
HBEL General 10-Mar-21 JUMPNET General 12-Mar-21
IMPEXFERRO General 10-Mar-21 MMLF General 12-Mar-21
KALPACOMME General 10-Mar-21 MOTOGENFIN General 12-Mar-21
MACKINN General 10-Mar-21 MRUTR General 12-Mar-21
NDASEC General 10-Mar-21 RAMCOCEM Interim Dividend 12-Mar-21
POLYLINK General 10-Mar-21 RAMCOIND Interim Dividend 12-Mar-21
QUICKHEAL ESOP Plan;Buy Back of Shares 10-Mar-21 RATHIST General 12-Mar-21
RAJNISH General 10-Mar-21 RITES Interim Dividend 12-Mar-21
RECLTD Interim Dividend;General 10-Mar-21 SKC General 12-Mar-21
SACHEMT Bonus issue;General 10-Mar-21 SUPPETRO General 12-Mar-21
Source: BSE, Elite wealth Research

Major Economy Indicators

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