Indian Market Outlook:

Key benchmark indices ended with modest losses after seeing high volatility during the week. Selling was witnessed in index pivotal after the central bank kept interest rates unchanged and slashed its growth forecast for the economy. The Nifty ended below the psychological 12,000 mark. In the week ended on Friday, the Sensex fell 348.66 points or 0.85% to settle at 40,445.15. The Nifty 50 index declined 134.55 points or 1.12% to settle at 11,921.50.On the macro front, IIP and manufacturing production data for October 2019 will be announced on 12 December 2019 while WPI inflation (YoY) data for November 2019 will be unveiled on Friday, 13 December 2019. Going forward, Global cues, and macroeconomic data, Forex fluctuation, crude oil price movement and investments by FPI and DII will be watched in the week ahead. Developments in the Winter Session of Parliament will be closely watched which will conclude on 13th December. Overseas, developments on the U.S.-China trade front will be closely watched. As per reports, China’s finance ministry said the country will waive import tariffs for certain soybean and pork shipments from the U.S., without providing further detail. The Federal Reserve’s two day meeting begins on Tuesday, 10 December 2019 and the interest rate decision will be announced on Wednesday, 11 December 2019.

Latest Spot Price (in US $)

Precious Metal Current Price Change (%) 3 Month 6 Month       1 Year
Gold 1,464.55 -0.39 -3.08 7.89 14.10
Silver 16.62 -2.81 -9.03 9.70 11.10
Platinum 897.90 -0.02 -5.53 11.38 13.04
USD/INR 71.28 -0.66 -0.70 2.78 0.59
Crude 59.13  6.69 2.21 9.52 12.39

Global Weekly Events

Date Region Event Description Forecast Previous
Dec 10,2019 GBP GDP (QoQ) (Q3) -0.2% 0.3%
Dec 11,2019 USD Core CPI (MoM) (Nov) 0.2% 0.2%
Dec 12,2019 USD Fed Interest Rate Decision 1.75%      1.75%
Dec 12,2019 INR CPI (YoY) (Nov)  5.20% 4.62%
Dec 12,2019 USD PPI (MoM) (Nov) 0.2% 0.4%

Domestic Economy Indicators

Heading Indicators Current Previous
 RBI Policy Rate Policy Repo Rate 5.15% 5.15%
Reserve Policy Rate 4.90% 4.90%
Bank Rate 5.40% 5.40%
 Reserve Ratio CRR 4% 4%
SLR 18.50% 18.50%
 Inflation Rate Wholesale Price Index 0.16% 0.33%
  Consumer Price Index 4.62% 3.99%
 Trade Data Export ($ Million) 26380 26030
Import($ Million) 37390 36890
 Industry IIP -4.3% -1.4%

 

Domestic Indices Closing(6th Dec) Change %Change
BSE Sensex           40,445.15 -348.66 -0.85
Nifty 11,921.50 -134.55 -1.12
Mid Cap 14,667.37 -417.49 -2.77
Small Cap 13,339.35 -221.22 -1.63
Bank Nifty 31,341.55 -604.55 -1.89

 

Global Indices Closing(6th Dec) Change %Change
Dow Jones 28,015.06 -36.35 -0.13
Nasdaq 8,656.53 -8.94 -0.10
FTSE 7,239.66 -106.87 -1.45
Nikkei 23,354.40 60.49 0.26
Hang Seng 26,498.37 151.88 0.58
Shanghai Com 2,912.01 40.03 1.39

 

Net Inflow (Cr) FII DII
02-Dec-2019 -1,731.33 753.99
03-Dec-2019 -1,131.12 963.97
04-Dec-2019    -781.06  904.13
05-Dec-2019     653.36      -410.49
06-Dec-2019    -867.66   210.72
Total -3,857.81 2422.32

 

Top Gainers Closing Price Prev Close Chg (%)
Kotak Mahindra Bank 1674.30 1615.20 3.66
TCS     2136.30 2053.25 3.43
Infosys 715.10 696.35 2.69
ICICI Bank 524.80 512.60 2.38
Wipro 241.00 237.70 1.39

 

Top Losers Closing Price Prev Close Chg (%)
Yes Bank 56.00 68.30 -18.01
Eicher Motors 20920.00 22881.40 -8.57
GAIL India 117.15 126.05 -7.06
Indusind Bank 1465.85 1569.10 -6.58
Coal India 192.00 205.25 -6.46

Economic News:

  • After five rate cuts in a row, the Reserve Bank of India (RBI) has finally hit the pause button. The central bank, on Thursday, in its latest monetary policy review kept the repo and reverse repo rates unchanged. RBI governor Shaktikanta Das said that although the central bank is in no hurry to keep reducing interest rates, it would work to ensure that the transmission turns more effective since much needs to be passed on. The repo rate currently stands at 5.15 per cent and reverse repo rate at 4.90 per cent.
  • Union Finance Minister Nirmala Sitharaman on Saturday said the Modi government could bring in more measures to reinvigorate the sagging economy. The FM, during the HT Leadership Summit in New Delhi, said the Union government had taken many initiatives in August and September. Elaborating on the steps taken by the government, the FM said the public sector banks had disbursed around Rs 5-lakh crore in these two months to boost consumption in the country.

    Industry News:

  • Auto component sales in India fell 10% to $26.2 billion (Rs 1.87 lakh crore) in the first six months of the ongoing financial year, amid a broader slowdown in consumption in the local market, the Automotive Component Manufacturers’ Association (ACMA) said.The sluggish demand environment has resulted in the loss of about 1,00,000 jobs in the sector till July 2019, said the industry body. Mostly temporary workers lost jobs as companies scaled down production on the back of weak vehicle demand.
  • The ministry of civil aviation (MoCA) recently announced that it is kicking off the fourth phase of the UDAN (Ude Desh ka Aam Naagrik) scheme. It aims to improve connectivity to remote and regional areas (like North East regions, hilly states, Jammu and Kashmir, Ladakh) besides giving flexibility to airlines in designing their network, promoting short-haul routes, and revising the parameters of VGF (viability gap funding).

Company News:

  • SEBI has ordered state-owned insurer Life Corporation of India, State Bank of India (SBI) and Bank of Baroda (BoB) to cut their stake in UTI Mutual Fund to below 10 per cent from the current 18.25 per cent by December 31, 2020. SEBI also said if these entities would fail to comply with the directives, their shareholding and voting rights in UTI AMC and UTI Trustee Companies over 9.99 per cent and corporate benefits would stand frozen till they did so. They have been told to submit a compliance report within a month from such compliance.
  • Axis Bank’s Jairam Sridharan has resigned from the post of group executive and chief financial officer, the lender informed bourses on Friday. The private sector bank said Sridharan would like to pursue other career opportunities and as such has resigned from the services of the bank. Jairam Sridharan will continue to serve as the group executive and chief financial officer of the bank under his notice period of three months.
  • Bank of America Corp. and Kotak Mahindra Capital Co. are among banks Indian billionaire Radhakishan Damani picked for another planned stake sale in Avenue Supermarts Ltd., owner of the DMart brand, said people with knowledge of the matter. A 5.2% stake in Avenue Supermarts would be valued at around 58.7 billion rupees ($823 million), based on the closing price in Mumbai on Friday. The founders hold about 80.2% of Avenue Supermarts, including about 37.4% by Damani.

Global News:

  • China is planning to exempt some US soybeans and pork products from tariffs, a move that could take some heat out of talks aimed at agreeing on a truce in the trade war. Trade in soybeans and pork has been hit hard as tensions have escalated between the world’s two largest economies. Both products were among thousands of US goods hit by Chinese tariffs last July 2018 in response to the Trump administration’s taxes on $34 billion of Chinese goods.
  • U.S. stock index futures edged higher on Friday as comments from President Donald Trump that trade talks with China were “moving right along” helped set a calmer tone ahead of the Labor Department’s much anticipated monthly jobs report. Trump’s remarks around the discussions came after Chinese officials reiterated their stance that some U.S. tariffs must be rolled back for a phase one deal.

(Source: Economic Times, Business Today, Investing,CNN)

 Forthcoming Corporate Actions (9th December to 14th December)

Security Name Ex-Date Purpose Security Name Ex-Date Purpose
EVANS 10-Dec-19 Interim Dividend – Rs. – 1.00 BOROSIL 18-Dec-19 Dividend – Rs. – 0.65
NESTLEIND 10-Dec-19 Interim Dividend – Rs. – 55.00 IBVENTURES 18-Dec-19 Buy Back of Shares
PIRPHYTO 11-Dec-19 Amalgamation BALMLAWRIE 26-Dec-19 Bonus issue 1:2
TRIDENT 13-Dec-19 Stock  Split From Rs.10/- to Rs.1/-

Source: BSE, Elite wealth Research

Upcoming Board Meetings (9th December to 14th December)

Symbol Purpose BM Date Symbol Purpose BM Date
ECS Preferential Issue of shares 09-Dec-19 ZSARACOM Quarterly Results 12-Dec-19
JAGRAN Buy Back of Shares 09-Dec-19 ABANSENT Interim Dividend 13-Dec-19
KJMCCORP Quarterly Results 09-Dec-19 ACTIONFI Quarterly Results 13-Dec-19
KJMCFIN Quarterly Results 09-Dec-19 AJCON Quarterly Results 13-Dec-19
MIC General 09-Dec-19 APOLLOFI Quarterly Results 13-Dec-19
ORACLECR Quarterly Results 09-Dec-19 ASHFL Quarterly Results 13-Dec-19
QUESS Scheme of Arrangement 09-Dec-19 CHADPAP Quarterly Results 13-Dec-19
SOFTRAKV General 09-Dec-19 CSLFINANCE Quarterly Results 13-Dec-19
TTIENT Quarterly Results 09-Dec-19 GARNETINT Quarterly Results 13-Dec-19
WALLFORT Quarterly Results 09-Dec-19 GKB Issue Of Warrants 13-Dec-19
ASHIKACR Quarterly Results 10-Dec-19 HBLEAS Quarterly Results 13-Dec-19
INFRATEL Interim Dividend 10-Dec-19 HBPOR Quarterly Results 13-Dec-19
LATIMMETAL Amalgamation;General 10-Dec-19 INDIAHOME Quarterly Results 13-Dec-19
SALEM Quarterly Results 10-Dec-19 JOINDRE Quarterly Results 13-Dec-19
TFL General;Quarterly Results 10-Dec-19 KAJALSY Quarterly Results 13-Dec-19
VGCL Quarterly Results 10-Dec-19 KIFS Quarterly Results 13-Dec-19
VIAANINDUS General 10-Dec-19 LADDERUP Quarterly Results 13-Dec-19
ALFREDHE Quarterly Results 11-Dec-19 LOHIASEC Quarterly Results 13-Dec-19
ALMONDZ Amalgamation;Quarterly Results 11-Dec-19 MANCREDIT Quarterly Results 13-Dec-19
ENBETRD Quarterly Results 11-Dec-19 MASTERTR General;Quarterly Results 13-Dec-19
FINKURVE Quarterly Results 11-Dec-19 NSIL Quarterly Results 13-Dec-19
KOTHARIFIN Voluntary Delisting of Shares 11-Dec-19 OSWALAGRO Quarterly Results 13-Dec-19
MAAJTL General 11-Dec-19 PARAGONF Quarterly Results 13-Dec-19
MANVIJAY General 11-Dec-19 RAPIDIN Quarterly Results 13-Dec-19
MOLDTEK General 11-Dec-19 SAHARAHOUS Quarterly Results 13-Dec-19
PANTH General 11-Dec-19 SAKTHIFIN General;Quarterly Results 13-Dec-19
QGO General 11-Dec-19 SARVOTTAM Quarterly Results 13-Dec-19
RSWM Right Issue of Equity Shares 11-Dec-19 SASTASUNDR Quarterly Results 13-Dec-19
SHYAM Quarterly Results 11-Dec-19 SHAMROIN General 13-Dec-19
TCMLMTD General 11-Dec-19 SHKALYN Quarterly Results 13-Dec-19
ADHARSHILA Quarterly Results 12-Dec-19 SPACAPS Quarterly Results 13-Dec-19
ADIEXRE Quarterly Results 12-Dec-19 SUCHITRA Quarterly Results 13-Dec-19
ARMANFIN General;Quarterly Results 12-Dec-19 SYSTMTXC Quarterly Results 13-Dec-19
BHAGYFN Quarterly Results 12-Dec-19 TFSL Quarterly Results 13-Dec-19
CAPITALT Quarterly Results 12-Dec-19 UYFINCORP Quarterly Results 13-Dec-19
CENTRUM Quarterly Results 12-Dec-19 VLL Quarterly Results 13-Dec-19
DFL Quarterly Results 12-Dec-19 WILLAMAGOR Quarterly Results 13-Dec-19
ELCIDIN Quarterly Results 12-Dec-19 WILLIMFI Quarterly Results 13-Dec-19
GANHOLD Quarterly Results 12-Dec-19 ZGOLDINV Quarterly Results 13-Dec-19
HARYNACAP Quarterly Results 12-Dec-19 ZSWASTSA General 13-Dec-19
INFLAME General 12-Dec-19 AVONMORE Quarterly Results 14-Dec-19
INTSTOIL Quarterly Results 12-Dec-19 FRONTSEC Quarterly Results 14-Dec-19
ISLCONSUL Quarterly Results 12-Dec-19 HASTIFIN Quarterly Results 14-Dec-19
JJFINCOR Quarterly Results 12-Dec-19 INDIANVSH Quarterly Results 14-Dec-19
JUNCTION Preferential Issue of shares 12-Dec-19 INDOTHAI Quarterly Results 14-Dec-19
MATHEWE Quarterly Results 12-Dec-19 KAILASH Quarterly Results 14-Dec-19
MITSU Bonus issue;Increase in Autho. Capital 12-Dec-19 KWALITYCL Quarterly Results 14-Dec-19
MMWL Quarterly Results 12-Dec-19 MIC General;Quarterly Results 14-Dec-19
NPRFIN General;Quarterly Results 12-Dec-19 NAGREEKCAP Quarterly Results 14-Dec-19
PARIKSHA Quarterly Results 12-Dec-19 OCTAL Quarterly Results 14-Dec-19
PIONRINV Quarterly Results 12-Dec-19 PRISMFN Quarterly Results 14-Dec-19
SCC Quarterly Results 12-Dec-19 QFSL Quarterly Results 14-Dec-19
SHARDUL Quarterly Results 12-Dec-19 RIDDHICORP Quarterly Results 14-Dec-19
SHIVKAMAL Quarterly Results 12-Dec-19 RSDFIN General;Quarterly Results;Stock  Split 14-Dec-19
SMARTLINK Quarterly Results 12-Dec-19 RSYSTEMINT Interim Dividend 14-Dec-19
SUCROSA Preferential Issue of shares 12-Dec-19 SNTCL Quarterly Results 14-Dec-19
WINROC Quarterly Results 12-Dec-19 VISCO General;Quarterly Results 14-Dec-19

Source: BSE, Elite wealth Research    

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2019-12-07-Major-Economy-Indicators-3


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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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