December 2, 2019 by BizWhiz Admin in Economy Snapshot 0 comments 438

Dear Colleagues

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

Indian Markets registered a gain of 1.50% last month taking the markets to all time high. Nifty crossed 12,000 mark yet again. Bank Nifty gained about 6%. Pharma and FMCG gained 4%, IT, Auto and FMCG lost about 4% last month. FII’s pumped in 23,200 crores in the equity market while Domestic Funds sold about 1,800 crores. Indian Rupee closed at Rs.71.74 for 1 US $. While the markets hit the peak, the news on low GDP growth will dampen the markets in the coming week.

On the Global markets front, US markets also scaled all time high with about 4% gains. London gained by 1% and Tokyo gained by 2%. Hong Kong and Shanghai lost about 2% last month. On the commodities side, Gold lost about 1% and Silver lost about 4%. Crude gained about 4%.

Happy reading!……

Regards
V Murali

General News

  • Parliament passes Bills on Jallianwala Bagh National Memorial, Chit Funds, Transgender Persons.
  • Lok Sabha passes Bills on Special Protection Group, Prohibition of E- Cigarettes, Unauthorised Colonies.
  • Ayodhya Verdict: Temple at disputed site, trust to monitor construction; alternate 5- acre land for Mosque.
  • SC dismisses all review petitions on Rafale fighter jets issue; saying review petitions were without merit.
  • Sabarimala Verdict: CJI Ranjan Gogoi-led bench refers case to larger bench in a split 3:2 verdict.
  • SC directs Kerala govt to frame new law for administration of Sabarimala Temple, sets Jan 2020 deadline.
  • Chief justice’s office falls under ambit of RTI Act, rules Supreme Court in a 3:2 verdict.
  • Rahul Gandhi’s ‘chowkidar’ remark: SC closes contempt case, asks him to be careful in future.
  • Justice Sharad Bobde takes oath as 47th Chief Justice of India, succeeds Justice Ranjan Gogoi.
  • PM Modi attends 11th BRICS Summit in Brasilia; PM Modi held bilateral talks with Russia and China.
  • PM Modi visits Thailand to attend ASEAN-India, East Asia, RCEP summits.
  • RCEP Trade Agreement: India decides to opt out of RCEP, says key concerns not addressed.
  • Rajnath Singh attends SCO meet, ASEAN Defence Ministers’ Meeting-Plus and India-Russia Military meet.
  • S Jaishankar discusses economic ties, Afghanistan with visiting Finland counterpart.
  • Brazilian President Bolsonaro to be Chief guest at India’s Republic Day celebrations next year.
  • German Chancellor Angela Merkel visits India, calls for ‘fresh attempt’ at EU-India trade deal
  • Sri Lanka President Gotabaya Rajapaksa meets PM Modi, India announces $450 million line of credit.
  • Prince Charles on a two-day visit to India, holds bilateral talks to deepen cooperation.
  • Kartarpur Corridor: PMs Modi, Imran Khan held separate opening ceremonies on their respective sides.
  • Uddhav Thackeray takes oath as Maharashtra CM, wins trust vote.
  • Devendra Fadnavis quits as CM after Ajit Pawar resigned as the Deputy CM, after 3 days in power.
  • Odd-Even scheme implemented from November 4 – 16 as Delhi’s air quality reached “severe” levels.
  • Punjab, Haryana announce ₹2,500 an acre incentive to stop stubble burning.
  • Office-of-profit case: President Kovind rejects plea to disqualify 11 AAP MLAs in Delhi.
  • Delhi Police officers and lawyers went on strike after major clash broke out at Tis Hazari court premises.
  • JNU high-level committee offers another partial rollback of fee hike after massive protests.
  • SC allows Karnataka rebel MLAs to contest by-polls; 16 of 17 rebel MLAs join BJP.
  • Telangana HC gives permission to privatise 5,100 RTC routes; TSRTC strike called off after 52 days.
  • Chirag Paswan elected as Lok Janshakti Party’s new National President; to fight Jharkhand polls alone.
  • India conduct first ever military exercise with Uzbekistan, sign three agreements to enhance military ties.
  • India makes advance payment of $800 million for Russian S-400 anti-aircraft missile systems.
  • US clears sale of $1 billion worth of Naval guns to India for use against Warships, Anti-aircraft Warfare.
  • ISRO launches advanced mapping satellite, Cartosat-3 and 13 US nano satellites.
  • Tharoor-headed Parliamentary panel take up WhatsApp snooping case.
  • TN Seshan, former CEC known for bringing wide-ranging electoral reforms, passes away.
  • BJP declares receiving donations over ₹700 crores in 2018-19; Tata-controlled Trust highest contributor.
  • US formally notifies UN about its withdrawal from Paris Climate Accord.
  • Trump impeachment inquiry: U.S. House of Representatives opens first public hearings.
  • Trump hosts Turkish President Erdogan for first meeting since clash over Syria.
  • Trump approves legislation backing Hong Kong protesters.
  • Taliban talks resume as Trump makes surprise visit to Afghanistan.
  • Gotabaya Rajapaksa sworn in as the 7th Executive President of Sri Lanka; Mahinda Rajapaksa as new PM.
  • Hong Kong voters deliver landslide victory for pro democracy campaigners in local elections.
  • Islamic State confirms death of its founder Abu Bakr al Baghdadi, names new leader.
  • China and France sign deals worth $15 billion during President Macron’s visit.
  • Iran resumes Uranium enrichment at Fardow underground facility.
  • Israel to face third election as coalition talks fail, PM Netanyahu charged with corruption in 3 cases.
  • Kuwait’s govt resigns amid parliamentary scrutiny.
  • NSW and Queensland fires: State of emergency declared over ‘catastrophic’ threat.
  • Bhubaneswar, Rourkela to host 2023 Men’s Hockey World Cup.
  • India vs Bangladesh: India wins T20 series 2-1 and Test series 2-0.
  • Bangladesh PM Sheikh Hasina, West Bengal CM Mamata Banerjee inaugurate India’s first Pink ball Test.
  • Shafali Verma youngest Indian to score international fifty, surpasses Sachin Tendulkar’s 30-year-old record.
  • Sri Lanka becomes first south Asian nation to criminalise match fixing & sports betting.
  • Rafael Nadal secures No 1 spot for eighth time in his career in the ATP rankings.
  • Spain beats Canada to win Davis Cup at home.
  • India’s women & men Hockey teams qualify for 2020 Olympics.
  • FIFA World Cup qualifiers: India virtually knocked out after losing 0-1 to Oman.
  • Asian Shooting Championships: India finishes fourth in medal tally with 26 medals.
  • ISSF World Cup: Indian shooting contingent tops medal tally, Olympics Quota at a record 15.
  • World Para-Games: India finishes 24th with 9 medals, secures 13 qualifying spots for Tokyo Paralympics.
  • Indian women clinch five gold medals in Asian Youth Boxing Championship in Mongolia.
  • Vijender Singh beats former Commonwealth champion Charles Adamu to claim 12th successive win.

 

Business News

  • April-Oct budget deficit at ₹7.20 lakh crores; budget deficit reaches 102.4% of FY target.
  • Central GST collection till October in FY’20 at ₹3.26 lakh crore.
  • Cabinet approves hike in FCI authorised capital to ₹10,000 crore; 15th Finance Commission term extended.
  • Govt gives go-ahead to biggest privatisation drive; to sell stake in BPCL, SCI, CONCOR, NEEPCO & THDC.
  • Govt clears ₹25,000 crore alternate investment fund (AIF) to complete stalled housing projects.
  • AGR: Govt gives ₹42,000 crore relief to telcos, defers spectrum payments by 2 years.
  • Govt notifies scrapping policy, mandates discounts on junking old cars.
  • AP government ends tie-up with Singapore consortium, scraps Amaravati’s startup area project.
  • CBDT amends over 100 forms & returns to provide for interchangeability between PAN & Aadhaar number.
  • India’s 42 scheduled commercial banks collectively wrote off ₹2.
  • 12 trillion worth of loans in 2018-19.

  • RBI mandates all banks to make NEFT transactions free from January 2020.
  • PNB, Union Bank get in-principal nod from govt for proposed merger.
  • Rana Kapoor, other promoters pare stake in YES Bank to token 900 shares.
  • PMC crisis: Mumbai Police arrest former PMC director Ranjeet Singh.
  • Muthoot Finance to acquire IDBI’s mutual fund business for ₹215 crore.
  • SEBI bans Karvy Stock Broking for ₹2,000 crore client defaults.
  • RIL market cap hits ₹10 lakh crore; beats BP to break into elite club of 6 global energy giants.
  • CSB Bank ₹410 crore IPO oversubscribed by 87 times.
  • Saudi Arabia kick-starts IPO, to make stock market debut on December 11.
  • Alibaba makes robust debut in Hong Kong market.
  • China central bank cuts 7-day reverse repo rate to 2.50% from 2.55% for first time since 2015.
  • US, China have agreed to cancel existing tariffs in different phases.
  • Reliance to transfer health portfolio to General Insurance firm after IRDAI bans it from selling insurance.
  • BSNL, MTNL rolls out VRS scheme, to remain open till December 3.
  • Railways’ 1st ‘private’ train Tejas posts ₹70 lakh profit in its first month, average occupancy rate at 85%.
  • Apollo Tyres, Global Automotive Research Centre team up for first tyre test track in India.
  • Maruti Suzuki and Toyota announce setting up vehicle dismantling and recycling unit in Noida in 2020-21.
  • Ford Motor unveils its new all-electric Mustang Mach-E SUV, to Challenge Tesla.
  • Tesla unveils its first electric pickup, the Cybertruck, bags 146,000 orders within two days of unveil.
  • Tata Communications joins hands with Microsoft to work for connected cars.
  • Bridgestone to merge India operations with Europe, West Asia, Africa unit in FY20.
  • DGCA asks IndiGo to replace old P&W engines by January 31.
  • International Airlines Group (IAG) buys Spain’s Air Europa for €1 billion.
  • SpiceJet, Gulf Air sign MoU to explore codeshare and coordinated engineering services.
  • China officially launches 6G research and development.
  • Daiichi Sankyo case: SC holds former Ranbaxy promoters Malvinder, Shivinder Singh guilty.
  • ED arrests ex-Ranbaxy promoter Malvinder Singh, ex-CMD of Religare Sunil Godhwani in RFL fraud case.
  • Essar Steel: Supreme Court sets aside NCLAT order, clears decks for takeover by ArcelorMittal.
  • Essel Group to divest 16.5% stake in ZEE Limited; Subhash Chandra resigns as Chairman.
  • Apple supplier Salcomp buys Nokia’s Chennai plant for ₹215 crore.
  • TCS, Qualcomm launch innovation hub in Hyderabad to build AI, IoT, 5G solutions.
  • Xerox exits Fujifilm venture with $2.3 billion stake sale to Japan partner.
  • HP rejects Xerox bid after deadline to take the offer or face a hostile bid.
  • Google’s game streaming platform Stadia launched with 22 games.
  • IBM, Bank of America team up to launch financial services-specific cloud.
  • Microsoft, Nokia collaborate to boost transformation & innovation across industries with Cloud, AI & IoT.
  • Sun Pharma, Britain’s AstraZeneca join to distribute cancer drugs in China.
  • Pfizer’s Upjohn and Mylan combine to be known as Viatris.
  • Chinese conglomerate Fosun buys Thomas Cook brand for $14.2 million.
  • BHIM UPI goes global: Demonstrated at Singapore FinTech Festival.
  • Facebook Inc launches Facebook Pay, unites payment service across apps.
  • E-retailers cannot influence prices of goods on platform: Commerce Ministry’s draft guidelines.
  • Singapore-based e-commerce platform Qoo10 acquires ShopClues in all-stock deal.
  • Amazon India partners with BookMyShow to sell movie tickets on its platform.
  • Disney Plus launches its live streaming platform, 10 million sign up on day one.
  • India’s first cloud kitchen fund and incubator Ghost Kitchens launches with $3 million corpus.
  • Apple TV Plus launches in more than 100 countries, including India.
  • WhatsApp revealed that Indian users were targets of surveillance using Israeli spyware Pegasus.
  • Anil Ambani along with four Directors resign from Reliance Communications.
  • IndusInd Bank names Sumant Kathpalia as the new MD and CEO of the bank.
  • Google India appoints former Star and Disney head Sanjay Gupta as new Country Manager.
  • World Talent ranking: India slips two places to 53rd position, Switzerland tops for fifth year in a row.
  • Microsoft CEO Satya Nadella tops Fortune’s Business Person of the Year 2019.
  • Bangalore, Delhi & Mumbai among 113 cities in world on new global prosperity index, topped by Zurich.

 

Q2 Results

  • HDFC Q2 profit jumps 61% YoY to ₹3,962 crore; revenue rises 20% at ₹13,487 crore.
  • Yes Bank reports Q2 loss of ₹600 crore, its second-biggest quarterly loss, on one-time tax adjustment.
  • PNB reports ₹507.05 crore profit in Q2, NII rose 7.2% QoQ to ₹4,262 crores, GNPA rose to 16.76%.
  • Bank of Baroda Q2 profit jumps 73% to ₹737 crores, GNPA falls to 10.25%, NNPA declines to 3.91%.
  • IDBI Bank narrows Q2 loss to ₹3,459 crore; board approves entire stake sale in AMC, MF Trustee.
  • Canara Bank Q2 profit jumps 21.8% to ₹365 crore; GNPA falls to 8.68%, NNPA declines to 5.15%.
  • Airtel reports Q2 net loss at ₹23,044.90 crore, revenue grew by 5% QoQ to 21,131.30 crores.
  • Vodafone Idea posts India’s biggest ever quarterly loss at ₹50,921 crore on AGR hit.
  • RCom posts ₹30,142 crore loss, includes ₹23,327 crore licence fee & ₹4,987 crore spectrum usage charges.
  • Tech Mahindra Q2 profit rises 6% YoY to ₹1,123.90 crores, revenue climbs 4.81% to ₹9,069.90 crores.
  • Dr Reddy’s Laboratories doubled its Q2 profit to ₹1,093 crore, revenue grew by 26.4% to ₹4,801 crore.

 

WORLD INDICES
Indices 29-Nov 31-Oct % 1M 01-Jan % since Jan
BSE 40794 40129 1.66% 36255 12.52%
NSE 12056 11877 1.50% 10910 10.50%
DOW 28051 27046 3.72% 23327 20.25%
NASDAQ 8665 8292 4.50% 6635 30.60%
FTSE 7347 7248 1.35% 6728 9.19%
Nikkei 23294 22927 1.60% 20015 16.38%
Hang Seng 26346 26907 -2.08% 25846 1.94%
Straits Times 3194 3230 -1.11% 3069 4.08%
Shanghai 2872 2929 -1.95% 2494 15.16%
USD 71.74 70.95 1.12% 69.45 3.30%
Euro 79.07 79.21 -0.17% 79.50 -0.55%
GBP 92.80 91.97 0.90% 88.40 0 4.97%
Yen/100INR 0.66 0.66 -0.21% 0.63 3.23%
Gold 38031 38490 -1.19% 31422 21.03%
Silver 44506 46689 -4.68% 38786 14.75%
Crude Brent $ 62.43 59.65 4.66% 53.50 16.69%
Crude Nymex $ 55.17 54.35 1.51% 45.31 21.76%
NIFTY SECTORAL INDICES
Sectors BANK NIFTY CNX IT CNX AUTO CNX FMCG CNX PHARMA
29-Nov 31946 14998 8086 30976 8190
31-Oct 30066 15559 8450 32320 7878
% 1M 6.25% -3.61% -4.30% -4.16% 3.96%
01-Jan 27392 14451 9182 30398 8882
% since Jan 16.62% 3.79% -11.94% 1.90% -7.79%

INDIAN TRADE(USD MILLION)
 Exports 26380
 Imports 37390
 FDI 1704
 Government Bond 10Y 6.46%
 GDP YoY 4.50%
 Inflation Rate 4.62%
 Forex Reserves $ M 448600
 IIP % -2.30%
INSTITUTIONAL TRADING ACTIVITY
Particulars FII (Rs.crore) MF (Rs.crore)
 Equity 23241 (1794)
 Debt (3415) 24150
 Total 1 M 19826 22356
 Total Since Jan 114877 520334
 Equity 83492 50700
 Debt 31385 469634

 

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