May 2, 2019 by BizWhiz Admin in Economy Snapshot 0 comments 384

Dear Colleagues

I am pleased to attach the Economy / Market Snapshot covering all the major events in April, 2019

Indian markets went up by 1% and the Sensex has managed to stay at 39,000 levels. All the sectors registered gains except Bank Nifty which lost about 2%. IT is the biggest gainer last month with 7% gains. FII’s invested about Rs.21,000 crores in in the equity market while Domestic Institutional Investors pulled out 5,800 crores. Indian Rupee closed at Rs.69.56 for 1 US $.

On the Global markets front, it was all green last month except Shanghai which lost marginally. Nasdaq and Nikkei gained about 5%. DOW and FTSE gained by 2%. Gold was marginally up and Silver lost about 1.50% last month. Crude went up by 6% and currently trading at $73 a barrel.

Despite elections and the uncertainty, the market could stay at the peak. With few more phases, the results of the elections are expected on 23rd May, 2019. We expect the market to be volatile in May but the market will get a clear direction post-election depending on the results.

Happy reading!…….

Regards
V Murali

General News

  • Sankalp Patra: BJP releases manifesto, makes 75 pledges; commits to make India world’s third largest
    economy by 2030; Ram Temple, farmers’ income, Article 35A figure in.
  • ‘Hum Nibhayenge’: Rahul Gandhi releases Congress manifesto; promises jobs, separate Kisan budget,
    central focus on NYAY or Minimum Income Support Scheme.
  • LS Phase voter turnout: Phase 1- 69.50%, Phase 2- 69.44%, Phase 3- 66%, Phase 4- 64%.
  • Sadhvi Pragya, Malegaon blast accused, joins BJP, files nomination from Bhopal.
  • Priyanka Chaturvedi Joins Shiv Sena , Appointed as Deputy leader.
  • SC orders parties to disclose donation details to EC by May 30.
  • Chandrababu Naidu leads opposition attack over EVMs, demand ballot votes.
  • Mayawati and Mulayam Singh Yadav share stage after 25 years at a joint rally.
  • EC Summons CBDT Officials to discuss IT Raids on Opposition Leaders; advises that action by should be
    “neutral” and “non-discriminatory” during the polls.
  • Political ad spending on Facebook crosses ₹10 crore; BJP supporters continue to lead.
  • Facebook removes 687 pages, accounts linked to Congress ahead of Lok Sabha poll.
  • US count finds none of Pakistan’s F-16s missing, contradicts India’s claim; India refutes.
  • Rafale Case: SC allows use of leaked documents as evidence, dismisses govt objections.
  • Rahul Gandhi apologises to SC for incorrectly attributing its Rafale verdict; SC issues contempt notice.
  • CJI Gogoi row: Retired SC judge A K Patnaik to head probe into claims of conspiracy against CJI.
  • SC stays inquiry commission proceedings into Jayalalithaa’s death at Apollo Hospitals.
  • SC stays HC decision asking AJL to vacate National Herald House building.
  • UK court rejects Vijay Mallya’s appeal against extradition.
  • Narendra Modi biopic: SC refuses to revoke EC ban on film till the end of the elections.
  • Salem-Chennai green corridor: Madras HC cancels land acquisition process, TN govt to appeal.
  • NGT forms Central Monitoring Committee to prepare national plan for polluted rivers.
  • ISRO launches PSLV-C45 carrying DRDO Emisat, 28 other satellites.
  • India successfully test-fires 1,000 km strike range sub sonic cruise missile ‘Nirbhay’ off Odisha coast.
  • Nepal successfully launches first satellite NepaliSat-1 into space from US.
  • Navy chief Admiral Sunil Lanba launches new guided missile destroyer ‘INS Imphal’.
  • Two-day per week ban on vehicles in Jammu-Srinagar highway for troop movement comes into force.
  • Saradha case: SC asks CBI to show proof of ex-Kolkata police chief suppressing evidence.
  • IMD predicts 2019 monsoon likely to be near normal this year; Skymet forecasts monsoon below normal,
    does not rule out drought.
  • UAE awards PM Modi with highest civilian honour, Zayed Medal, for boosting ties between the countries.
  • Russia confers its highest civilian award ‘Order of Saint Andrew The Apostle’ on PM Modi.
  • India and Chile hold bilateral talks, exchange MoUs in mining, culture and disability.
  • Foreign Secretary Vijay Gokhale meets Chinese counterpart, raises issue of Azhar’s listing.
  • 100 years of Jallianwala Bagh massacre: Deeply regret what happened, says British envoy.
  • Kartarpur corridor: Pakistan agrees to construct 100 metre bridge over river Ravi.
  • Sri Lanka bombings: Multiple blasts at churches, hotels kill around 250 including 10 Indians.
  • ISIS claims responsibility for Sri Lanka bombings.
  • Sri Lanka attack to avenge Syria ouster: ISIS chief Baghdadi appears in first video in 5 years.
  • Pakistan PM Imran Khan sees better chance of peace talks with India if BJP wins election.
  • Pakistan Finance Minister Asad Umar steps down amid criticism on economic crisis.
  • China’s Belt and Road meet ends, affirms respect for sovereignty and territorial integrity.
  • Chinese President Xi Jinping brings in more than $64 billion in Belt and Road deal.
  • Trump meets South Korea’s Moon, signals openness to smaller deal with North Korea in nuclear talks
  • Open to another meeting with Trump, with conditions: North Korean leader Kim Jong-un.
  • Democrats in US House demand release of full Mueller report amid impeachment call.
  • Donald Trump vetoes Bill to end US support for Saudi-led war in Yemen.
  • EU leaders, UK agree to extend Brexit deadline until the end of October.
  • Climate change activists in London bring disruptive protests to an end.
  • Israel’s Prime Minister Benjamin Netanyahu wins a record fifth term in office.
  • New Zealand’s PM Jacinda Ardern meets China’s premier amid Huawei spat.
  • Japanese Emperor Akihito declares abdication, Crown Prince Naruhito to become Japan’s 126th emperor.
  • Fire ravages 850-year-old Paris’ Notre-Dame Cathedral, main structure ‘saved’; Macron vows to rebuild.
  • WikiLeaks founder Julian Assange arrested at London’s Ecuadorian embassy.
  • Indonesia election: Nearly 300 ballot counters die following the world’s biggest-ever single-day election.
  • Comedian Volodymyr Zelenskiy wins landslide victory in Ukraine Presidential election.
  • World’s first malaria vaccine launched in Africa.
  • World’s largest plane ‘Stratolaunch’ with 117-metre wingspan completes first test flight.
  • IPL 2019: Cricket carnival nears its last phase; DC and CSK qualify for playoffs.
  • India Squad ICC Cricket World Cup 2019: Dinesh Karthik included, Rishabh Pant, Rayudu named as standbys.
  • Asian Athletics Championships 2019: India grabs 17 medals to finish fourth in the four-day saga.
  • Divyansh Panwar wins Silver Medal at Shooting World Cup, secures Olympic quota for India.
  • All India Football Federation President Praful elected as FIFA Council Member, first from India.
  • Paralympian Deepa Malik receives New Zealand PM’s Sir Edmund Hillary Fellowship.
  • Golf: Tiger Woods wins Masters to claim first major in 11 years.

 

Business News

  • RBI cuts key interest rate by 0.25% to 6%; lowers GDP growth forecast to 7.2% for FY20, cuts inflation
    forecast to 2.9 – 3% for H1 FY20 and 3.5 – 3.8% for H2 FY20.
  • SC strikes down RBI’s Feb 12 circular on defaulting firms; revised guidelines for resolution of stressed assets
    likely before May 23.
  • RBI to issue new ₹20 denomination banknotes.
  • Finance Ministry ratifies 8.65% interest on EPF for 2018-19.
  • RBI announces second $5 billion dollar-rupee swap.
  • GST collections for March 2019 hits record high of ₹1.06 lakh crores.
  • India meets fiscal deficit target of 3.4% via spending cuts.
  • Embassy Office Parks REIT, Polycab India and Metropoolis Healthcare make stock market debut.
  • Wipro’s largest buyback worth $1.7 billion gets approval of SEBI.
  • Uber releases its long-awaited IPO filing; 2018 revenue reported as $11.27 billion.
  • MCX gets SEBI nod to launch future trading in cash crop Arecanut.
  • BSE signs deal with HDFC to give a boost to startup platform.
  • Bank of Baroda becomes third-largest lender of nation after merger with Vijaya Bank, Dena Bank.
  • Lakshmi Vilas Bank to merge with Indiabulls Housing in a share-swap deal, awaits RBI approval.
  • Nirav Modi, Mehul Choksi car auction: Bids worth ₹3.29 crore received for 13 luxury cars.
  • Nirav Modi’s bail rejected by UK court again, next hearing on May 24.
  • Airtel Payments Bank ties up with Bharti AXA for two-wheeler insurance.
  • Kotak MF defers returns on some of its fixed maturity plans; HDFC AMC pushes maturity date.
  • Irregularities of more than ₹1 lakh crore found in companies under Insolvency and Bankruptcy Code.
  • China, US reach milestone agreement on road to trade peace; to establish trade deal enforcement offices.
  • US warns India, other nations over Iranian oil imports; India to stop importing oil from Iran.
  • US proposes list of EU goods for tariff retaliation against Airbus subsidies.
  • Imran Khan meets IMF & World Bank Chiefs, seeks backing for bailout package for Pakistan.
  • CCI approves L&T’s proposal to acquire up to 66.15% stake in Mindtree.
  • Infosys completes formation of Joint Venture with Hitachi, Panasonic and Pasona in Japan.
  • Microsoft launches Kaizala app, to help Indian Railways employees connect with healthcare services.
  • Google Cloud launches new Anthos open platform, works with AWS and Azure.
  • ‘Apple TV’ debuts as YouTube channel; features trailers, interviews & behind the scenes videos.
  • Disney unveils Disney+, its new streaming service; to be streamed by Hotstar in India.
  • Madras HC lifts ban on TikTok after company agrees to monitor content.
  • DoT to extend all the monetary assistance to BSNL till June, including for salary payment.
  • Airtel picks Ericsson for VoLTE expansion in India.
  • South Korea launches world’s first national 5G networks; Samsung releases first 5G phone ‘Galaxy S10 5G.
  • British PM approves Huawei role in some non-core parts of UK’s 5G data network.
  • Apple starts iPhone 7 production at Wistron Plant in Bengaluru.
  • Huawei launches ‘world’s first’ 5G communications hardware for autos.
  • Volkswagen to merge all 3 passenger car arms in India, Skoda to lead new entity.
  • Mahindra signs deal with Ford motor to co-develop midsize sports utility vehicle.
  • Mahindra deploys 50 EVs with Uber in Hyderabad.
  • Ford invests $500 million in Rivian; partnership to deliver all-new Ford battery EVs.
  • Jet Airways management proposes to temporarily shut down operations.
  • Naresh Goyal withdraws from race for Jet Airways after Etihad, TPG threaten to walk out.
  • Boeing conducts final test flight of 737 MAX with software fix.
  • Oyo commences its operations in Japan.
  • Dream 11 becomes India’s first gaming unicorn with investment from Steadview Capital.
  • NPCI cuts UPI usage fees for transactions up to ₹1,000 by 60%.
  • Google Pay launches gold buying feature in tie-up with MMTC-PAMP India.
  • Uber’s self-driving unit gets $1 billion investment from SoftBank and Japan’s auto industry.
  • IL&FS case: Former Chairman Hari Sankaran, and former MD & CEO Ramesh Bawa arrested by SFIO.
  • Vinod Dasari joins Eicher Motors as Royal Enfield CEO.
  • Japan court grants $4.5 million bail to Carlos Ghosn, Nissan shareholders sack Ghosn from board.
  • US Treasury official David Malpass named World Bank President.

 

Q4 Results

  • Kotak Mahindra Bank Q4 profit jumps 25% YoY to ₹1,408 crore as provisions falls by 44% to ₹171.26 crore.
  • Axis Bank reports Q4 profit at ₹1,505 crore, NII at ₹5,706; Gross NPA at 5.26% and Net NPA at 2.06%.
  • YES Bank posts first-ever quarterly loss of ₹1,507 crores; provisions jumps to ₹3,661.70 crores.
  • RBL Bank Q4 net profit jumps 39% to ₹247 crores; declares interim dividend ₹2.70 per share.
  • Infosys Q4 profit grows 11% YoY to ₹4,078 crore, Net sales climbs 19.1% to ₹21,539 crore. Board lowers
    growth guidance for FY20 to 7.5-9.5%.
  • TCS Q4 net profit jumps 17.70% to ₹8,126 crore, net sales climbs 18.5% to ₹38,010 crore.
  • Wipro reports 38% YoY jump in Q4 profit at ₹2,483 crore, announces ₹10,500 crore share buyback.
  • Mindtree Q4 net up 8.9% at ₹198.4 crore; board declares special dividend of ₹20 per share.
  • Hexaware reports 3.1% rise in Q4 net profit at ₹138.48 crore, net sales up 20.5% at ₹1,264.02 crore.
  • Maruti Suzuki Q4 profit falls 4.6% YoY to ₹1,796 crores; announces dividend of ₹80/share.
  • Ultra Tech Cement’s Q4 net profit up 108.52% YoY at ₹1,017.47 crore, net sales up 17% at ₹10,500.27 crore.
  • Reliance Q4 profit rises 10% to ₹10,362 crores, revenue rose 19.4% to ₹1.54 trillion.
  • Huawei Q1 revenue jumps 39% to $26.81 billion, ships 59 million smartphones.
  • Google parent Alphabet Q1 profit falls 29% to $6.7 billion, weighed down by hefty $1.7 billion EU fine

 

WORLD INDICES
Indices 30-Apr 29-Mar % 1M 01-Jan % since Jan
BSE 39032 38673 0.93% 36255 7.66%
NSE 11748 11624 1.07% 10910 7.68%
DOW 26593 25929 2.56% 23327 14.00%
NASDAQ 8095 7729 4.74% 6635 22.01%
FTSE 7418 7279 1.91% 6728 10.26%
Nikkei 22259 21206 4.97%/td>

20015 11.21%
Hang Seng 29699 29051 2.23% 25846 14.91%
Straits Times 3400 3213 5.83% 3069 10.80%
Shanghai 3078 3091 -0.41% 2494 23.43%
USD 69.56 69.15 0.59% 69.45 0.16%
Euro 78.03 77.64 0.49% 79.50 -1.86%
GBP 90.71 90.23 0.54% 88.40 2.62%
Yen/100INR 0.62 0.62 0.03% 0.63 -1.70%
Gold 31756 31734 0.07% 31422 1.06%
Silver 37209 37761 -1.46% 38786 -4.07%
Crude Brent $ 72.80 68.39 6.45% 53.50 36.07%
Crude Nymex $ 63.28 60.14 5.22% 45.31 39.66%
NIFTY SECTORAL INDICES
Sectors BANK NIFTY CNX IT CNX AUTO CNX FMCG CNX PHARMA
30-Apr 29765 16705 8351 30337 9403
29-Mar 30427 15628 8335 30321 9347
% 1M -2.18% 6.89% 0.18% 0.05% 0.60%
01-Jan 27392 14451 9182 30398 8882
% since Jan 8.66% 15.60% -9.06% -0.20% 5.86%

INDIAN TRADE(USD MILLION)
Exports 32550
Imports 43440
FDI 1932
Government Bond 10Y 7.41%
GDP YoY 6.60%
Inflation Rate 2.83%
Forex Reserves $ M 414150
IIP % (5.00%)
INSTITUTIONAL TRADING ACTIVITY
Particulars FII (Rs.crore) MF (Rs.crore)
Equity 21032 (5831)
Debt (3813) 55205
Total 1 M 17219 49373
Total Since Jan 68619 201852
Equity 68972 (4673)
Debt (353) 206525

 

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