Indian Market Outlook:

The Key benchmark indices fell around 2 percent over the week due to Yes Bank crisis and the rising number of coronavirus cases. COVID-19 cases surpassed 100,000 worldwide on Friday as the new flu-like coronavirus continues to spread outside of China, the epicenter of the outbreak. In the week ended on Friday, the Sensex fell 720.67 points or 1.88 % to settle at 37576.42.The Nifty 50 index fell 212.30 points or 1.9 % to settle at 10989.45. BSE Mid Cap Index fell 372.53 points or 2.55% to settle at 14277.49 while the BSE small Cap index fell 2.77 % to settle at 13329.78. Shares of Yes Bank tanked 85% on Friday’s session after the Reserve Bank of India (RBI) placed the private lender under a moratorium, capping deposit withdrawals at Rs 50,000 per account for a month and superseded its board. FII again were the net sellers for the week, sell equities worth Rs.10720.49 crore over the week while DIIs were the net buyers of Rs.10092.78 crore. Oil prices plunged more than 10% to multi-year lows on Friday as OPEC’s allies rejected additional production cuts that the organization proposed Thursday. Lower crude prices will help Indian economy & fiscal situation. The rise in confirmed COVID-19 cases in India or globally will weigh on sentiment in the coming week. On the Macro front Industrial Production (YoY) (Jan) and CPI (YoY) (Feb) will be announced on 12th March, 2020.

Latest Spot Price (in US $)

Precious Metal Current Price Change (%) 3 Month 6 Month       1 Year
Gold 1,674.35 5.49 13.86 9.94 26.45
Silver 17.34 4.84 4.21 -3.18 13.56
Platinum 904.35 4.39 0.70 -3.05 9.00
USD/INR 74.00 2.01 4.27 3.09 5.59
Crude 41.61 -8.04 -29.50 -28.07 -26.43

Global Weekly Events

Date Region Event Description Forecast Previous
March 11,2020 GBP GDP (MoM) 0.3%
March 11,2020 USD Core CPI (MoM) (Feb)) 0.2% 0.2%
March 11,2020 USD Crude Oil Inventories 0.785
March 12,2020 INR Industrial Production (YoY) (Jan)  1.8%  -0.3%
March 12,2020 INR CPI (YoY) (Feb) 7.4%  7.59%

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 18.25% 18.50%
 Inflation Rate Wholesale Price Index 3.10% 2.59%
  Consumer Price Index 7.59% 7.35%
 Trade Data Export ($ Million) 25970 27360
Import($ Million) 41140 38610
 Industry IIP -0.3% 1.8%

 

Domestic Indices Closing(6th Mar) Change %Change
BSE Sensex           37,576.62 -720.67 -1.88
Nifty 10,989.45 -212.30 -1.90
Mid Cap 14,227.49 -372.53 -2.55
Small Cap 13,329.78 -379.23 -2.77
Bank Nifty 27,801.45 -1,345.70 -4.62

 

Global Indices Closing(6th Mar) Change %Change
Dow Jones 25,864.78 455.42 1.79
Nasdaq 8,575.62 8.25 0.10
FTSE 6,462.55 -118.06 -1.79
Nikkei 20,749.75 -393.21 -1.86
Hang Seng 26,146.67 16.74 0.06
Shanghai Com 3,034.51 154.21 5.35

 

Net Inflow (Cr) FII DII
02-Mar-2020 -1,354.72 1,138.74
03-Mar-2020 -2,415.80 3,135.24
04-Mar-2020 -878.38 764.13
05-Mar-2020 -2,476.75 2,510.89
06-Mar-2020 -3,594.84 2,543.78
Total -10,720.49 10,092.78

 

Top Gainers Closing Price Prev Close Chg (%)
Dr. Reddy 3170.95 2927.10 8.87
Cipla 434.40 402.10 8.03
Sun Pharma 400.90 372.90 7,51
Eicher Motors 17743.55 16602.35 6.87
HCL Tech 566.20 534.35 5.96

 

Top Losers Closing Price Prev Close Chg (%)
Yes Bank 16.15 34.60 -53.32
Tata Motors 114.20 128.95 -11.44
SBI 270.50 303.00 -10.73
Indiabulls Hsg 254.50 279.85 -9.06
Indusind Bank 1014.80 1104.05 -8.08

 

Economic News:

  • India’s factory activity growth slowed in February from the previous month’s eight-year high due to a modest weakening in demand and output, although overall conditions remained firm, a private survey showed on Monday. The Nikkei Manufacturing Purchasing Managers’ Index, compiled by IHS Markit, fell to 54.5 last month from January’s 55.3, above a Reuters poll forecast of 52.8. It has stayed above the 50-point threshold mark, which separates growth from contraction, for over two years.
  • The Covid-19 outbreak could cost the Indian economy between $387 million and $29.9 billion in personal consumption losses, the Asian Development Bank (ADB) said on Friday. Given the uncertainties, the ADB cited best-case, moderate-case, worse-case and hypothetical worst-case scenarios to assess the impact of Covid-19 on various developing countries in Asia. ADB’s scenarios were based on the fact that the outbreak is still concentrated in China, which accounts for 97% of fatalities and 93% of total cases.

 Industry News:

  • Pharmaceutical companies are trying to ensure that there are no supply disruptions due to prolonged lockdown in production activity in China following the Covid-19 outbreak. Many companies have started to airlift raw material and are placing “irregular orders” with vendors as several companies run close to exhausting their inventories. “We have invested Rs 100 crore in placing irregular orders with vendors as we don’t want to face any supply shortage in days to come,” said Mankind’s CMD RC Juneja.
  • India’s private telecom firms paid more than Rs 8,000 crore towards deferred spectrum dues, even as the telecom department raised fresh questions on their self-assessment of AGR dues. While Vodafone Idea Ltd. has paid about Rs 3,043 crore for deferred spectrum dues, Bharti Airtel Ltd. submitted Rs 1,950 crore and Reliance Jio Infocomm Ltd. Rs 1,053 crore for the same. The Tatas deposited Rs 2,000 crore for ad hoc statutory liabilities.

  Company News:

  • State Bank of India (SBI) will pick up a 49 per cent stake in troubled private lender YES Bank as part of a revival scheme framed by the Reserve Bank of India (RBI) on Friday. The draft scheme, titled “Yes Bank Ltd. Reconstruction Scheme, 2020”, issued by the RBI, mentioned SBI as the “investor bank” and said it would pay at least Rs 10 per share for buying equity in YES Bank. The move will lead to a capital infusion of roughly Rs 2,650 crore by SBI, with equity worth Rs 2,450 crore and preferential shares of around Rs 200 crore, an RBI executive said, requesting anonymity.
  • In the country’s biggest ever privatisation drive, the government on Saturday invited bids for sale of its entire 52.98 per cent stake in India’s second biggest oil refiner Bharat Petroleum Corp Ltd (BPCL). Expressions of interest for the strategic sale of BPCL have been invited by May 2, as per the bid document by the Department of Investment and Public Asset Management (DIPAM). The bidding will be a two-stage affair, with qualified bidders in the first expression of interest (EoI) phase being asked to make a financial bid in the second round.
  • Harit Talwar, the head of Goldman Sachs Group’s consumer-banking business, is in the running for one of India’s top banking jobs. HDFC Bank, India’s largest private-sector lender, has held talks with Talwar for the top role, according to people with knowledge of the matter. The bank has been looking for a new leader to replace Aditya Puri, one of the longest-serving banking chiefs in India, whose term ends in October.

 

Global News:

  • Yields on U.S. Treasuries plunged to historic lows on Friday as fear the coronavirus outbreak will slam the global economy drove investors to snap up risk-adverse assets and dump equities, overshadowing data highlighting a strong U.S. labor market. The 10-year Treasury US10YT=RR yield fell to a record low of 0.69% as new milestones were set across the U.S. bond market, which this week has seen some of its biggest moves in years as the pandemic rapidly spreads outside China.
  • S. stocks fell on Friday as fears of economic damage from the spread of the coronavirus intensified, though Wall Street’s major indexes ended well above their session lows. The S&P 500 .SPX posted its 10th decline in 12 sessions as moves to contain the virus crippled supply chains and prompted a sharp cut to global economic growth forecasts for 2020. Since its record closing high on Feb. 19, the benchmark index has lost more than 12%, wiping out $3.43 trillion from its market capitalization, according to S&P Dow Jones Indices.

 (Source: Economic Times, Business Today, Business Standard, Investing, Moneycontrol)

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

Security Name Ex-Date Purpose Security Name   Ex-Date  Purpose
FINOLEXIND 09-Mar-20 Interim Dividend – Rs. – 10.00 ELDEHSG 12-Mar-20 Interim Dividend – Rs. – 17.50
JUBILANT 09-Mar-20 Interim Dividend – Rs. – 5.00 EMPIND 12-Mar-20 Interim Dividend – Rs. – 25.00
JUBLFOOD 09-Mar-20 Interim Dividend – Rs. – 6.00 FAZE3Q 12-Mar-20 Interim Dividend – Rs. – 0.50
KDDL 09-Mar-20 Interim Dividend – Rs. – 2.00 IMPAL 12-Mar-20 Interim Dividend – Rs. – 10.00
MAITHANALL 09-Mar-20 Interim Dividend – Rs. – 6.00 INDIAMART 12-Mar-20 Interim Dividend – Rs. – 10.00
NBVENTURES 09-Mar-20 Interim Dividend – Rs. – 1.50 KALPATPOWR 12-Mar-20 Interim Dividend – Rs. – 3.50
PRADPME 09-Mar-20 Interim Dividend – Rs. – 1.00 KIRLFER 12-Mar-20 Interim Dividend – Rs. – 2.00
ADORFO 11-Mar-20 Interim Dividend – Rs. – 1.80 KRL 12-Mar-20 Interim Dividend – Rs. – 1.00
ENDURANCE 11-Mar-20 Interim Dividend – Rs. – 5.50 KSL 12-Mar-20 Interim Dividend – Rs. – 5.00
INDIAGLYCO 11-Mar-20 Interim Dividend – Rs. – 6.00 MANAPPURAM 12-Mar-20 Interim Dividend – Rs. – 0.55
JKCEMENT 11-Mar-20 Interim Dividend – Rs. – 7.50 MIDHANI 12-Mar-20 Interim Dividend – Rs. – 1.00
NH 11-Mar-20 Interim Dividend – Rs. – 1.00 MOTHERSUMI 12-Mar-20 Interim Dividend – Rs. – 1.50
NIITTECH 11-Mar-20 Buy Back of Shares POLYCAB 12-Mar-20 Interim Dividend – Rs. – 7.00
RAMCOCEM 11-Mar-20 Interim Dividend – Rs. – 2.50 RADIOCITY 12-Mar-20 Bonus issue 1:4
RAMCOIND 11-Mar-20 Interim Dividend – Rs. – 0.50 RESONANCE 12-Mar-20 Interim Dividend – Rs. – 1.00
RELAXO 11-Mar-20 Interim Dividend – Rs. – 1.25 SUDARSCHEM 12-Mar-20 Special Dividend – Rs. – 0.50
SHANTIGEAR 11-Mar-20 Interim Dividend – Rs. – 2.00 SUDARSCHEM 12-Mar-20 Interim Dividend – Rs. – 5.80
TIINDIA 11-Mar-20 Interim Dividend – Rs. – 3.50 VINATIORGA 12-Mar-20 Interim Dividend – Rs. – 5.00
UFO 11-Mar-20 Interim Dividend – Rs. – 15.00 ALBERTDA 13-Mar-20 Interim Dividend – Rs. – 7.00
VALIANTORG 11-Mar-20 Interim Dividend – Rs. – 6.00 AMNPLST 13-Mar-20 Interim Dividend – Rs. – 0.30
 MANINFRA 12-Mar-20 Interim Dividend – Rs. – 0.55 AUTOAXLES 13-Mar-20 Interim Dividend – Rs. – 6.00
AXTEL 12-Mar-20 Interim Dividend – Rs. – 2.50 CHEMBOND 13-Mar-20 Interim Dividend – Rs. – 2.00
BNKCAP 12-Mar-20 Interim Dividend – Rs. – 2.50 MEGH 13-Mar-20 Interim Dividend – Rs. – 1.00
CAPPL 12-Mar-20 Interim Dividend – Rs. – 2.10 PIDILITIND 13-Mar-20 Interim Dividend – Rs. – 7.00
CHAMBLFERT 12-Mar-20 Interim Dividend – Rs. – 4.00 PRAJIND 13-Mar-20 Interim Dividend – Rs. – 2.70
DECCANCE 12-Mar-20 Interim Dividend – Rs. – 4.00 REMSONSIND 13-Mar-20 Interim Dividend – Rs. – 1.50

Source: BSE, Elite wealth Research

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

Symbol Purpose    BM Date Symbol Purpose  BM Date
AIAENG Interim Dividend 09-Mar-20 ORICON Interim Dividend 11-Mar-20
AMARAJABAT Interim Dividend 09-Mar-20 PERSISTENT Interim Dividend 11-Mar-20
AREALTY General 09-Mar-20 SCTL General 11-Mar-20
BALAMINES Interim Dividend 09-Mar-20 SMRUTHIORG Interim Dividend 11-Mar-20
BRIGHTBR Interim Dividend 09-Mar-20 STYLAMIND General;Scheme of Arrangement 11-Mar-20
DELTACORP Interim Dividend 09-Mar-20 SUPRAP General 11-Mar-20
EXCELINDUS Interim Dividend 09-Mar-20 TBZ Interim Dividend 11-Mar-20
HATSUN Interim Dividend;General 09-Mar-20 TORNTPHARM Interim Dividend 11-Mar-20
INDUSINDBK General 09-Mar-20 UNIDT Interim Dividend 11-Mar-20
KEI Interim Dividend 09-Mar-20 WELLNESS General 11-Mar-20
LKPFIN Interim Dividend 09-Mar-20 ALICON Interim Dividend 12-Mar-20
MANVIJAY General 09-Mar-20 AMRITCORP Interim Dividend 12-Mar-20
MMFL Interim Dividend 09-Mar-20 ASHOKLEY Interim Dividend 12-Mar-20
MODISNME Interim Dividend 09-Mar-20 BLUESTARCO Interim Dividend 12-Mar-20
NFL Interim Dividend 09-Mar-20 BPCL Interim Dividend 12-Mar-20
OAL Interim Dividend 09-Mar-20 CEATLTD Interim Dividend 12-Mar-20
PNCINFRA Interim Dividend 09-Mar-20 CIPLA Interim Dividend 12-Mar-20
RODIUM General 09-Mar-20 COALINDIA Interim Dividend 12-Mar-20
SASKEN Interim Dividend 09-Mar-20 EASTWEST General 12-Mar-20
SUNTV Interim Dividend 09-Mar-20 FCL Interim Dividend 12-Mar-20
TATASTEEL General 09-Mar-20 GARWARPOLY Interim Dividend;General 12-Mar-20
WELSPUNIND Interim Dividend 09-Mar-20 IIFL Interim Dividend 12-Mar-20
WSTCSTPAPR Interim Dividend 09-Mar-20 JYOTHYLAB Interim Dividend 12-Mar-20
ASAHIINDIA Interim Dividend 10-Mar-20 KILPEST Interim Dividend 12-Mar-20
KNRCON Interim Dividend 10-Mar-20 KTIL Interim Dividend 12-Mar-20
SPELS General 10-Mar-20 LAURUSLABS Interim Dividend 12-Mar-20
SUNCLAYLTD Interim Dividend 10-Mar-20 PRINCEPIPE Interim Dividend 12-Mar-20
TCS Interim Dividend 10-Mar-20 RSCINT General 12-Mar-20
TVSMOTOR Interim Dividend 10-Mar-20 SATINDLTD General 12-Mar-20
TVSSRICHAK Interim Dividend 10-Mar-20 TGVSL Preferential Issue of shares 12-Mar-20
20MICRONS Interim Dividend 11-Mar-20 VIVIDIND Interim Dividend 12-Mar-20
AKSCHEM Interim Dividend 11-Mar-20 XTGLOBAL General 12-Mar-20
ARIES Interim Dividend 11-Mar-20 IOC Interim Dividend 13-Mar-20
ATUL Interim Dividend 11-Mar-20 JKLAKSHMI Interim Dividend 13-Mar-20
AVL General 11-Mar-20 JSGLEASING General 13-Mar-20
BANCOINDIA Interim Dividend;General 11-Mar-20 PETRONENGG Quarterly Results 13-Mar-20
CONTROLPR Interim Dividend 11-Mar-20 PONDYOXIDE Interim Dividend 13-Mar-20
EICHERMOT Interim Dividend 11-Mar-20 RPPINFRA General 13-Mar-20
ERIS Interim Dividend 11-Mar-20 SESL General 13-Mar-20
FIEMIND Interim Dividend 11-Mar-20 SHANKARA Interim Dividend 13-Mar-20
FUTURAPOLY Quarterly Results 11-Mar-20 SHREEGANES General 13-Mar-20
GEOJITFSL Interim Dividend;General 11-Mar-20 SKYIND General 13-Mar-20
IEX Interim Dividend 11-Mar-20 SOMANYCERA Interim Dividend 13-Mar-20
IOLCP Interim Dividend 11-Mar-20 TCI Interim Dividend 13-Mar-20
KABRAEXTRU Interim Dividend 11-Mar-20 TCIEXP Interim Dividend 13-Mar-20
MENNPIS Interim Dividend;General 11-Mar-20 TRITONV Interim Dividend 13-Mar-20
MOLDTEK Interim Dividend 11-Mar-20 ACE Interim Dividend 14-Mar-20
MOLDTKPAC Interim Dividend 11-Mar-20 BINANIIND Results;Reduction of Capital 14-Mar-20
NCLIND Interim Dividend 11-Mar-20 THANGAMAYL Interim Dividend 14-Mar-20
NESCO Interim Dividend 11-Mar-20 THERMAX Interim Dividend 14-Mar-20
ONGC Interim Dividend 11-Mar-20 WIMPLAST Interim Dividend 14-Mar-20

Source: BSE, Elite wealth Research 

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