Indian Market Outlook:

The Key benchmark indices rose over 1 percent over the week on the back of positive global cues, optimism on vaccine rollout, healthy business figures reported by banking and auto companies and hopes of strong quarterly outcomes. Joe Biden’s confirmation as the next US president on Thursday led to a global rally which also lifted sentiment on Dalal Street on Friday. Nifty ended the week 2.35 percent higher at 14347 points while Sensex ended 1.91 percent higher at 48782 points. Broader market outperformed the key benchmark indices. BSE Midcap index ended 5.32 percent higher, while the BSE Small cap index rose 3.55 percent, during the course of the week. Foreign Institutional Investors were the net buyers during the week; bought equities worth Rs.8758 crore while the DIIs were the net sellers of Rs.4948 crore. Crude oil prices hit their highest levels in nearly a year on Friday, gaining 8 per cent on the week, supported by Saudi Arabia’s pledge to cut output and strong gains in major equity markets. Rising crude oil prices negatively impacts industries such as FMCG and Paint. Meanwhile the National Statistical Organization (NSO) predicted that the economy will contract 7.7 per cent in the current financial year ending in March. TCS Q3 numbers beats the street estimates which also raised earning expectation of other IT firms. Key results to watch next week are Infosys, Wipro, Tata Elxsi, HCL Technologies, L & T financial Holdings, PVR, HDFC Bank and Jindal Saw. On Economic front CPI Inflation (Dec) and Industrial Production (YoY) (Nov) would be released on 12th January, 2021.

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Latest Spot Price (in US $)

Precious Metal Current Price Change (%) 3 Month 6 Month     1 Year
Gold 1,849.90 -2.72 -3.02 2.09 21.63
Silver 25.49 -3.88 6.08 10.16 42.08
Platinum 1,075.95 -0.33 21.23 11.80 14.98
USD/INR 73.34 0.34 0.07 -1.89 2.98
Crude 52.72 8.84 42.29 29.69 -14.04

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Global Weekly Events

Date Region Event Description Forecast Previous
Jan 12,2020 USD EIA Short-Term Energy Outlook
Jan 12,2020 INR CPI (YoY) (Dec) 5.28% 6.93%
Jan 12,2020 INR Industrial Production (YoY) (Nov) -0.4% 3.6%
Jan 13,2020 USD Core CPI (MoM) (Dec)       0.1% 0.2%
Jan 13,2020 USD Crude Oil Inventories -2.133M -8.010M
Jan 14,2020       INR WPI Inflation (YoY) (Dec) 1.30% 1.55%

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 1.55% 1.48%
Consumer Price Index 6.93% 7.61%
 Trade Data Export ($ Million) 26890 23520
Import($ Million) 42600 33390
 Industry IIP 3.6% 0.2%

 

Domestic Indices Closing(8th January)   Change %Change
BSE Sensex 48,782.51 913.53 1.91
Nifty 14,347.25 328.75 2.35
Mid Cap 19,138.72 974.24 5.36
Small Cap 18,908.59 647.56 3.55
Bank Nifty 32,084.20 858.35 2.75

 

Global Indices Closing(8th

January)

  Change %Change
Dow Jones 31,097.97 491.49 1.61
Nasdaq 13,201.98 313.70 2.43
FTSE 6,873.26 412.74 6.39
Nikkei 28,139.03 694.86 2.53
Hang Seng 27,878.22 647.09 2.38
Shanghai Com 3,570.11 97.04 2.79

 

Net Inflow (Cr) FII DII
04-Jan-2020 1,843.22 -715.21
05-Jan-2020 986.3 -490.03
06-Jan-2020 -483.64 -380.41
07-Jan-2020 382.3 -989.5
08-Jan -2020 6,029.83 -2,372.54
Total 8,758.01 -4947.69

 

Top Gainers Closing Price Prev Close Chg (%)
Vedanta 182.05 160.40 13.50
Hindalco 268.20 238.35 12.52
Tata Steel 713.15 643.10 10.89
Wipro 430.20 388.10 10.85
Indiabulls Hsg 241.30 221.75 8.82

 

Top Losers Closing Price Prev Close Chg (%)
ITC 201.50 213.85 -5.78
Bajaj Finance       5082.00 5280.15 -3.75
Reliance 1933.70 1987.50 -2.71
Kotak Mahindra Bank 1970.70 1994.05 -1.71
Titan Co. 1548.60 1558.60 -0.64

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Economic News:

  • The Reserve Bank of India said it will resume normal liquidity management operations as the economy and financial market conditions stabilise. The first steps announced by the central bank will help target the price of liquidity by pushing up short-term rates even as the banking system remains flush with funds. “On a review of evolving liquidity and financial conditions, it has been decided to restore normal liquidity management operations in a phased manner,” the central bank said in a release on Friday.

 

  • India’s fiscal deficit is expected to be around 7.5 per cent of the GDP for the current fiscal owing to moderation in revenue collection due to the COVID-19 crisis, experts said. This would be a 100 per cent jump from the Budget estimate of 3.5 per cent of GDP pegged for the current fiscal. The government had pegged the fiscal deficit at Rs 7.96 lakh crore or 3.5 per cent of the GDP in the Union Budget 2020-21, which was presented by Finance Minister Nirmala Sitharaman in February 2020.

Industry News:

  • India’s primary steelmakers JSW Steel, Tata Stee, Steel Authority of India and JSPL reported a jump in production on the back of improved capacity utilisation and the domestic sales during the December quarter of FY21 reached pre-covid levels owing to better demand. State-owned Steel Authority of India reported a 9% growth in crude steel production for the quarter under review at 4.37 million tonnes (mt) as against a production of 4 mt during the same period last year. SAIL’s sales volume also registered a growth of 5.6% during the Q3 of FY 21, at 4.32 mt.

 

  • The life insurance industry saw a 2.7 per cent contraction in premium collection in December, a second consecutive month of decline. Insurers earned new business premiums (NBP) of Rs 24,383.42 crore during the month, compared to Rs 25,079.79 crore in December 2019. While private insurers, 23 in total, recorded a 22 per cent growth rate, state insurance behemoth, Life Insurance Corporation, saw its NBP contract 15 per cent. NBP is the premium acquired from new policies in a year. Top private insurers such as HDFC Life, ICICI Life, and Max Life Insurance registered double-digit growth in December.

Company News:

  • Tata Consultancy Services, the largest IT services exporter in India, reported a consolidated net profit of Rs 8,701 crore for the quarter ended December 2020, rising 7.2 percent sequentially, backed by strong demand-led revenue growth. The September quarter net profit had a post-tax one-time impact of Rs 958 crore due to provision for ongoing litigation with EPIC. Consolidated revenue for the quarter increased 4.7 percent sequentially to Rs 42,015 crore, and the year-on-year increase was 5.4 percent for the quarter. TCS won deals worth $6.8 billion in October-December quarter and would enjoy tailwind of large deals in Q4FY21. TCS Chief Executive Officer Rajesh Gopinathan said deal momentum will ensure that the company will post a double-digit growth in the year ending March 2022.

 

  • Reliance Infrastructure has completed the sale of its entire holding in a power transmission joint venture with the state-run Power Grid Corporation of India for an enterprise value of Rs 900 crore, the Anil Ambani-led company said on Saturday. The cash-strapped and loss-making company had signed a deal with India Grid Trust (IndiGrid) in November for the sale of its 74% stake in the joint venture, Parbati Koldam Transmission Company, which runs an inter-state power transmission line between Himachal Pradesh and Punjab. The divestment is a part of Reliance Infrastructure’s plan to divest assets to reduce debt.

 

  • Tata Steel Ltd. on Friday said its total output from India operations rose 3% to 4.60 million tonnes during October-December quarter of the current financial year. The output from company’s operations in India was at 4.47 MT in the year-ago period, Tata Steel said in a statement. Its sales from India operations during the period under review were at 4.66 MT, down 4% from 4.85 MT in the same quarter of 2019-20 financial year.

Global News:

  • The U.S. labor market lost jobs in December for the first time in eight months, reflecting a plunge in restaurant employment that highlights how surging coronavirus infections are taking a greater toll on parts of the economy. Nonfarm payrolls decreased by 140,000 from the prior month, according to a Labor Department report Friday that bucked economists’ forecasts for a modest gain.

 

  • China urgently needs to take steps to contain financial stability risks as the economy’s recovery takes hold, according to the International Monetary Fund. Virus relief measures that are “potentially distortionary” should be gradually phased out, the Washington-based lender said in its annual Article IV report released 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
REFEX 11-Jan-21 Interim Dividend – Rs. – 1.0000 INDTONER 14-Jan-21 Buy Back of Shares
ORTINLAABS 12-Jan-21 Spin Off INFRATRUST 14-Jan-21 Income Distribution (InvIT)
ORTINLAABS 12-Jan-21 Reduction of Capital SVPGLOB 14-Jan-21 Stock  Split From Rs.10/- to Rs.1/-
COCHINSHIP 13-Jan-21 Interim Dividend – Rs. – 9.0000 TCS 14-Jan-21 Interim Dividend

Source:BSE, Elite wealth Research

Upcoming Board Meetings

Symbol Purpose BM Date Symbol Purpose BM Date
BHEEMACEM Audited Results;General 11-Jan-21 WINSOMBR General 12-Jan-21
DOLAT Quarterly Results 11-Jan-21 5PAISA General;Quarterly Results 13-Jan-21
FORCEMOT General 11-Jan-21 AMTEKAUTO Audited Results;General 13-Jan-21
GNA Quarterly Results 11-Jan-21 CESC Interim Dividend;Quarterly Results 13-Jan-21
HALDYNGL General 11-Jan-21 CTL Quarterly Results 13-Jan-21
JINDALSAW General 11-Jan-21 GTPL Quarterly Results 13-Jan-21
MANRAJH General 11-Jan-21 INFY Audited Results;Quarterly Results 13-Jan-21
MNIL General 11-Jan-21 MIDESTI-B Quarterly Results 13-Jan-21
NETLINK Quarterly Results 11-Jan-21 MURUDCERA Issue Of Warrants;Preferential Issue 13-Jan-21
NIDHGRN Quarterly Results 11-Jan-21 RAJOOENG Quarterly Results 13-Jan-21
ONGC General 11-Jan-21 SUNTECHNO General 13-Jan-21
PRISMX General 11-Jan-21 VARROC General;Preferential Issue of shares 13-Jan-21
RJSHAH Quarterly Results 11-Jan-21 WIPRO Interim Dividend;Quarterly Results 13-Jan-21
TERRASCOPE General 11-Jan-21 DEN Quarterly Results 14-Jan-21
VENMAX Quarterly Results 11-Jan-21 DGCONTENT Quarterly Results 14-Jan-21
ZICOM Audited Results;Quarterly Results 11-Jan-21 FIBERWEB General 14-Jan-21
ATVPR Quarterly Results 12-Jan-21 HFCL Quarterly Results 14-Jan-21
COASTCORP ESOP;Preferential Issue ;Results 12-Jan-21 RIIL General;Quarterly Results 14-Jan-21
CSL Quarterly Results 12-Jan-21 TATASTLLP Audited Results 14-Jan-21
FILATEX Quarterly Results 12-Jan-21 WEBELSOLAR Quarterly Results 14-Jan-21
HATHWAYB Quarterly Results 12-Jan-21 3IINFOTECH General 15-Jan-21
INDBANK General;Quarterly Results 12-Jan-21 BGJL Quarterly Results 15-Jan-21
INDBNK Quarterly Results 12-Jan-21 BIRLAMONEY Quarterly Results 15-Jan-21
KTKBANK Quarterly Results 12-Jan-21 HCLTECH Interim Dividend;Quarterly Results 15-Jan-21
MESCON Quarterly Results 12-Jan-21 L&TFH Quarterly Results 15-Jan-21
NAVBLDR General 12-Jan-21 ONWARDTEC Quarterly Results 15-Jan-21
RUSHIL Right Issue of Equity Shares 12-Jan-21 PVR Quarterly Results 15-Jan-21
SEACOAST Right Issue;Increase in Auth.Capital 12-Jan-21 VENUSREM General 15-Jan-21
SJVN General 12-Jan-21 ZARDIINV Quarterly Results 15-Jan-21
SSWL Quarterly Results 12-Jan-21 CHEMBOND Quarterly Results 16-Jan-21
SUPRAP General 12-Jan-21 HDFCBANK Quarterly Results 16-Jan-21
TATAELXSI Audited Results;Quarterly Results 12-Jan-21 ITHL Quarterly Results 16-Jan-21
TRADWIN Quarterly Results 12-Jan-21 NEIL General;Quarterly Results 16-Jan-21
VIKASMCORP General;Quarterly Results 12-Jan-21 PRANAVSP Quarterly Results 16-Jan-21

Source: BSE, Elite wealth Research

Major Economy Indicators

Major-Economy-Indicators

Major-Economy-Indicators-2

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Elite Wealth Ltd. 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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