July 2, 2019 by BizWhiz Admin in Economy Snapshot 0 comments 299

Dear Colleagues

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

Indian Markets were down by 1% in June with the trade issues arising between India and US. These issues contributed to the nervousness in the market. All the sectoral indices were down with Pharma losing about 5% and Auto losing about 3%. Bank Nifty, IT and FMCG lost about 1% each. FII’s invested about Rs.1,600 crores in in the equity market while Domestic Institutional Investors invested about 6,600 crores. Indian Rupee closed at Rs.69.02 for 1 US $.

On the Global markets front, it was all GREEN last month after the losses in May. US markets went up by 7%, UK markets by 4%, Japan by 3%, Hong Kong by 6% and China by 3%. Gold went up by 7% and Silver went up by 3%. Crude went up by 3% and currently trading at $66 a barrel.

In the recently concluded G 20 Meet, Trump and Xi agreed to resume the trade talks and till such time no further tariffs will be imposed. Let us hope that the trade issue gets settled in July or atleast move in the right direction.

Happy reading!…….

Regards
V Murali

General News

  • ‘One nation, one poll’ to accelerate development: President Kovind addresses joint session of Parliament.
  • Thawar Chand Gehlot appointed Leader of House for Rajya Sabha; Piyush Goyal to be Deputy Leader.
  • Rajasthan MP Om Birla chosen as the Speaker of the 17th Lok Sabha.
  • Triple ‘talaq’ Bill introduced in Lok Sabha amid Opposition protest; govt approves Motor Bill,.
  • PM Modi meets govt secretaries; asks to come out with 5-year plan for each ministry, impactful decisions.
  • One nation, one election: Key opposition parties skip PM’s meet; Centre to set up panel for suggestions.
  • G20 Summit: PM Modi puts forward 5-point approach to tackle global challenges.
  • PM Modi holds trilateral meeting with Trump, Abe; also hold talks with G 20 nations leaders.
  • PM Modi attends the SCO summit in Kyrgyz capital Bishkek; meets Chinese President Xi on the side-lines.
  • Mike Pompeo meets PM Modi, Jaishankar; hold talks to strengthen India-US strategic partnership.
  • India will do what is in its national interest: Jaishankar to Pompeo on S-400 deal.
  • PM Modi, Maldivian President Solih inaugurate India-built Coastal Surveillance Radar System.
  • PM Modi visits Sri Lanka; pays tribute to Easter attack victims in Sri Lanka.
  • India rejects US report on religious freedom, says it is committed to tolerance and inclusion.
  • Bengal Doctors call off week-long strike after meeting with CM Mamata, give time to act on demands.
  • Pan-India doctors went on day-long protest on June 17 in solidarity with Kolkata medicos.
  • IMA renews call for central law to protect doctors: Draft seeks 10-year jail, ₹5 lakh fine for perpetrators.
  • Centre asks states to consider enacting separate law to protect medical professionals.
  • Sonia Gandhi re-elected Chairperson of Congress Parliamentary Party.
  • Former health minister J.P. Nadda appointed BJP’s working President, Amit Shah to remain party Chief.
  • Amit Shah reviews security situation in J&K on his maiden official visit.
  • Delhi CM Kejriwal announces free rides for women in public transport, including buses and metro trains.
  • Delhi government school students exempted from CBSE fees, announces Manish Sisodia.
  • Madras HC slams Tamil Nadu govt over water crisis, DMK holds state-wide protest over water shortage.
  • President’s rule in J&K extended for 6 more months beginning July 3.
  • Child death toll rises to 154 in Muzaffarpur, Bihar CM Nitish Kumar announces ₹4 lakh ex-gratia.
  • Telangana CM KCR inaugurates ₹80,000 crore mega Kaleshwaram irrigation project.
  • 12 of 18 Congress MLAs in Telangana join CM K Chandrashekar Rao’s TRS.
  • Andhra CM Y S Jagan Mohan Reddy appoints 5 deputy CMs; weekly offs for policemen comes into force.
  • Over 1 lakh people excluded from NRC in Assam ahead of July 5 deadline.
  • Election Commission recognized JD(U) as ‘State Party’ in Arunachal Pradesh.
  • Kamal Nath Cabinet gives nod for raising OBC reservation in Madhya Pradesh from 14% to 27%.
  • HD Kumaraswamy expands Cabinet by inducting two independents.
  • After Karnataka and UP, Congress dissolves its Himachal Pradesh unit following poll rout.
  • Shops, commercial establishments allowed to be open 24 hours a day in Tamil Nadu.
  • Yoga goes beyond caste and creed: PM Modi leads International Yoga Day event in Ranchi.
  • India inks agreements to broadcast DD India in Bangladesh, South Korea.
  • Amitabh Bachchan pays off loans of 2,100 farmers from Bihar.
  • Southwest monsoon finally hits Kerala coast, after a week’s delay.
  • Cyclone Vayu spares India coast a direct hit.
  • Legendary actor and playwright Girish Karnad dies at 81 in Bengaluru.
  • Saradha scam: Former Kolkata Police Commissioner Rajeev Kumar appears before CBI.
  • Air Force AN-32 transport plane crashes; no survivors from the wreckage found in Arunachal.
  • India signs deal with Israel to procure 100 SPICE bombs.
  • India test fires Brahmos Supersonic Cruise Missile from Chandipur test range.
  • India successfully conducts flight test of unmanned scramjet demonstration aircraft.
  • ISRO unveils first look of Chandrayaan 2 Orbiter, Vikram Lander from its testing facility in Bengaluru.
  • India to build indigenous space station in 7 years: ISRO’s K Sivan.
  • Ex-President Pratibha Patil conferred Mexico’s highest civilian honour.
  • 19 G20 members, excluding the US, recommit to Paris climate deal as the summit comes to an end.
  • Donald Trump, Xi Jinping meet on the side-lines of the G20 summit.
  • Trump meets Kim Jong Un in North Korea after crossing demilitarised zone.
  • Trump launches 2020 re-election campaign, calls US “Envy Of The World”, vows to ‘Keep America Great’.
  • US Congress approves $4.5 billion border aid bill.
  • Mexico publishes US President Donald Trump’s ‘secret deal’ on migration.
  • Donald Trump meets The Queen at Buckingham Palace on UK state visit.
  • Mike Pompeo meets Saudi rulers on Iran crisis.
  • Boris Johnson tops first ballot in Conservative Party leadership contest.
  • China and Russia agree to boost ties amid growing US unilateralism.
  • Japanese PM Shinzo Abe visits Iran, urges Rouhani to avoid escalation of Iran-US tensions.
  • Trump Heights: Israeli PM Netanyahu unveils a new settlement in the Golan Heights.
  • Chinese President Xi Jinping meets North Korean leader Kim Jong-un, discusses Korean Peninsula issues.
  • Sri Lanka extends emergency by another month in surprise move.
  • Hong Kong govt suspends divisive extradition bill after protests.
  • ICC World Cup: Australia becomes first team to qualify for the semis.
  • Shikhar Dhawan ruled out of World Cup with thumb injury, Rishabh Pant named replacement.
  • Yuvraj Singh announces retirement from International Cricket.
  • World’s highest-paid athletes 2019: Virat Kohli sole Indian in Forbes list, moves down to 100 from 83.
  • India women’s rugby team claim first-ever international 15s win against Singapore.
  • French Open: Rafael Nadal sweeps 12th title and 18th Grand Slam title; Ashleigh Barty wins maiden Grand Slam singles title.
  • FIFA Women’s World Cup 2019 kicks off in France; Sweden, Netherlands power through to semi-finals.

 

Business News

  • Making India $5 trillion economy challenging but achievable: PM Modi during Niti Aayog meeting.
  • NITI Aayog rejig: Key Cabinet ministers introduced as ex-officio members; Rajiv Kumar stays as VC.
  • GST Council extends last date for annual returns to August 30, new filing system from January.
  • Council announces mandatory e-ticketing for multiplexes in order to reduce tax evasion.
  • National Anti-Profiteering Authority (NAA)’s term extended by 2 years.
  • GST collection crosses ₹1 lakh crore-mark for third consecutive month in May.
  • Nirmala Sitharaman to present Union Budget on July 5.
  • Kerala tops NITI Aayog’s Healthy States ranking again, Bihar and UP worst performers.
  • RBI cuts repo rate by 25 bps to 5.75%, lowers GDP growth projection to 7% from earlier 7.2% for FY20.
  • RBI Dy Governor Viral Acharya resigns six months before term ends, cites ‘personal reasons’.
  • RBI panel deciding on Central bank’s capital reserves defers reserves report for fourth time.
  • RBI removes levy on NEFT, RTGS transactions, sets up panel to review ATM fee.
  • Payments can be processed abroad but data should be stored in India within 24 hours: RBI.
  • SEBI permits stock exchanges to introduce futures on commodity indices.
  • SEBI issues stricter norms for rating agencies to enhance standards.
  • Securities Appellate Tribunal stays SEBI ban on NDTV’s Roys, next hearing on Sept 16.
  • Black money chase: Noose tightens on Swiss accounts; 50 Indians get notices.
  • Swiss authorities freeze 4 bank accounts of Nirav Modi, sister.
  • UK Court sends Nirav Modi to judicial custody till July 25.
  • US Fed leaves interest rate unchanged, signals cuts possible later this year.
  • Australia’s central bank cuts rates to historic low of 1.25% as economy slows.
  • Pakistan’s China debt at $6.6 billion in past 10 months; funds mostly used on two nuclear plants.
  • US agrees to end trade dispute with China, Huawei allowed to buy from US suppliers.
  • US’ preferential trade status for India ends on June 5.
  • Trump suspends tariffs on Mexico after deal on immigration reached.
  • EU formally blocks Thyssenkrupp-Tata Steel joint venture.
  • IndiaMart raises ₹213 crore from anchor investors; ₹475 crore IPO oversubscribed 36.21 times.
  • Indiabulls Housing Finance-Lakshmi Vilas Bank merger gets CCI nod.
  • Reliance Capital sells 10.75% stake in Reliance Nippon Life Asset Management, cuts shareholding to 25%.
  • HDFC buys 51.2% in Apollo Munich Health for ₹1,347 crore.
  • Piramal Enterprises sells entire stake in Shriram Transport Finance for approximately ₹2,305 crores.
  • Sundaram Finance acquires BNP stakes in two joint ventures for ₹1,000 crore.
  • Deloitte, BSR face 5-year ban over alleged lapses in auditing books of IL&FS Financial Services.
  • PWC resigns as statutory auditor of Anil Ambani-led Reliance Capital and Reliance Home Finance.
  • L&T becomes majority shareholder in Mindtree with 60% stake.
  • India’s top auto companies announce shutdowns stretching over several days in the ongoing quarter.
  • Passenger vehicles retail sales dip 1% in May, two-wheeler sales fall 8.6%: FADA.
  • Renault joins Maruti Suzuki, Tata Motors in shunning diesel cars in India.
  • MG Motors to manufacture electric vehicle EZS in India.
  • Fiat Chrysler withdraws merger offer for Renault.
  • Bajaj Auto-Uber join hands to launch Bajaj Qute on UberXS in Bengaluru.
  • Jet Airways crisis: NCLT admits SBI’s insolvency plea, orders resolution in three months.
  • AAI ties up with Boeing for modernising air traffic management with grant from USTDA.
  • Boeing signs first deal for 737 Max jets since Lion Air crash; IAG signs letter of intent for 200 planes.
  • TRAI extends timeline for implementation of revised mobile port out norms.
  • Microsoft, Oracle team up on cloud services to take on Amazon web services.
  • Bharti Airtel pays Tanzania govt $26.2 million to settle ownership row.
  • Premium Smartphone Market collapses 8% in Q1 2019, after Apple shipments drop 20%.
  • 5 Chinese supercomputer companies blacklisted by US over security fears.
  • Facebook announces Libra cryptocurrency, to be launched in the first half of 2020.
  • Facebook to give data of hate speech suspects to French courts in world first.
  • BPCL, HPCL take 25% stake each in IOC’s ₹10,000-crore LPG pipeline project.
  • Govt recognises ONGC as HPCL’s promoter after 15-month impasse.
  • Adani Enterprises wins green light for long delayed Australian coal mine.
  • Walmart increases stake in Flipkart, buys over 5 lakh shares from Binny Bansal worth $76.4 million.
  • 8 Maruti Suzuki models among top 10 best selling cars in India, Swift best-seller clocks 17,039 units.
  • OYO becomes China’s largest hotel brand, manages 5 lakh rooms.
  • Zomato expands to 100 new cities in India, crossing the 300-city mark.
  • Paytm touches gross transaction value of $50 billion in FY19, dominates UPI merchant payment segment.
  • Amazon pumps ₹450 crore in India payments unit ‘Amazon Pay’.
  • Azim Premji to retire as executive chairman of Wipro on July 30; son Rishad to take over.
  • Mindtree approves appointment of 3 L&T nominees as board directors.
  • Uber’s chief operating officer and chief marketing officer resigns.
  • Yes Bank’s non-executive director Ajai Kumar and independent director Mukesh Sabharwal quit.
  • Indian economy grew 7.2% in 2018-19, likely to top at 7.5% in FY19-20: World Bank.
  • Real estate FDI: Bengaluru enters list of top 10 cities in Asia Pacific.
  • India can boost exports of 350 products to US, China amid trade war: Commerce Ministry report.
  • Over ₹2.05 lakh crore frauds in 11 years, ICICI Bank, SBI and HDFC among top victims: RBI Data.

 

WORLD INDICES
Indices 28-Jun 31-May % 1M 01-Jan % since Jan
 BSE 39395 39714 -0.80% 36255 8.66%
 NSE 11789 11923 -1.13% 10910 8.05%
 DOW 26600 24815 7.19% 23327 14.03%
 NASDAQ 8006 7453 7.42% 6635 20.66%
 FTSE 7426 7162 3.68% 6728 10.37%
 Nikkei 21276 20601 3.28% 20015 6.30%
 Hang Seng 28543 26901 6.10% 25846 10.43%
 Straits Times 3322 3118 6.53% 3069 8.24%
 Shanghai 2979 2899 2.76% 2494 19.45%
 USD 69.02 69.68 -0.95% 69.45 -0.62%
 Euro 78.48 77.84 0.82% 79.50 -1.29%
 GBP 87.64 88.12 -0.55% 88.40 -0.86%
 Yen/100INR 0.64 0.64 -0.05% 0.63 0.76%
 Gold 34206 32098 6.57% 31422 8.86%
 Silver 37452 36449 2.75% 38786 -3.44%
 Crude Brent $ 66.56 64.49 3.21% 53.50 24.41%
 Crude Nymex $ 58.47 53.50 9.29% 45.31 29.04%
NIFTY SECTORAL INDICES
Sectors BANK NIFTY CNX IT CNX AUTO CNX FMCG CNX PHARMA
28-Jun 31105 15936 7928 29546 8065
31-May 31375 16161 8176 29850 8455
% 1M -0.86% -1.39% -3.03% -1.02% -4.61%
01-Jan 27392 14451 9182 30398 8882
% since Jan 13.55% 10.28% -13.66% -2.80% -9.20%

INDIAN TRADE(USD MILLION)
 Exports 29990
 Imports 45350
 FDI 4381
 Government Bond 10Y 6.91%
 GDP YoY 5.80%
 Inflation Rate 3.05%
 Forex Reserves $ M 426420
 IIP % -9.90%
INSTITUTIONAL TRADING ACTIVITY
Particulars FII (Rs.crore) MF (Rs.crore)
 Equity 1602 6607
 Debt 5822 45322
 Total 1 M 7423 51929
 Total Since Jan 87988 288037
 Equity 79487 7569
 Debt 8500 280468

 

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