Business Standard Podcast

The ICC World Cup 2019 started on a high note, with hosts England handing South Africa not only a defeat but such broken nerves that they have yet to recover fully. As expected, most participating teams had an eventful week. Australia managed to get the better of Afghanistan, but not without a fightback from the newbies. Sri Lanka disappointed with their performance in both of their first two matches. Pakistan crumbled under pressure in their first match but did not take too long to bounce back and show their mettle. India, when they finally began their belated campaign, they beat South Africa to start on a high. Among the main points of discussion this World Cup are bouncy English pitches and limited swing. At the same time, spinners like Yuzvendra Chahal, Adam Zampa and Mohammad Nabi have shown that it's not just about pace this time. Overall, teams like Bangladesh, West Indies, and Afghanistan have stood out in the first week, in spite of favourites England, Australia and India. In this BS on Ground podcast, the members of the BS Sports Team discuss the start of India’s campaign on a winning note, and also dwell on the possibilities in the coming week: A much bigger challenge awaits India as they would play against Australia and New Zealand next week. To listen to our insights on the ICC Cricket World Cup 2019, subscribe to the BS ON GROUND channel on Google Podcast, Spotify and Apple Podcasts.

The ICC World Cup 2019 started on a high note, with hosts England handing South Africa not only a defeat but such broken nerves that they have yet to recover fully. As expected, most participating teams had an eventful week. Australia managed to get the better of Afghanistan, but not without a fightback from the newbies. Sri Lanka disappointed with their performance in both of their first two matches. Pakistan crumbled under pressure in their first match but did not take too long to bounce back and show their mettle. India, when they finally began their belated campaign, they beat South Africa to start on a high. Among the main points of discussion this World Cup are bouncy English pitches and limited swing. At the same time, spinners like Yuzvendra Chahal, Adam Zampa and Mohammad Nabi have shown that it's not just about pace this time. Overall, teams like Bangladesh, West Indies, and Afghanistan have stood out in the first week, in spite of favourites England, Australia and India. In this BS on Ground podcast, the members of the BS Sports Team discuss the start of India’s campaign on a winning note, and also dwell on the possibilities in the coming week: A much bigger challenge awaits India as they would play against Australia and New Zealand next week. To listen to our insights on the ICC Cricket World Cup 2019, subscribe to the BS ON GROUND channel on Google Podcast, Spotify and Apple Podcasts.

Benchmark indices posted their biggest one-day loss in 2019, dragged down by financials and bank stocks even though the monetary policy committee (MPC) of the Reserve Bank of India (RBI) reduced the repo rate by 25 basis points (bps) to 5.75 per cent in the second bi-monthly monetary policy meet of the financial year 2019-20 (FY20). Financials drop post DHFL crisis, liquidity issues, and trimmed GDP growth projections were among the major factors that dragged the markets lower on Thursday.    The benchmark S&P BSE Sensex slipped 554 points, or 1.38 per cent, to 39,530, with IndusInd Bank, Tata Steel, YES Bank, Larsen & Toubro, and State Bank of India were among the top losers. Only eight of the 30 BSE Sensex constituents ended the day in the green. The broader Nifty50 index tumbled 178 points, or 1.48 per cent, to 11,844. All the Nifty sectoral indices ended Thursday's session with losses, led by Nifty PSU Bank, down 4.9 per cent, and followed by Nifty Private Bank, down 2.29 per cent. In the broader market, the S&P BSE MidCap index tumbled 269 points, or 1.77 per cent, to 14,931, while the S&P BSE SmallCap index settled at 14,673, down 238 points, or 1.6 per cent. Buzzing stocks Shares of Dewan Housing Finance Corporation (DHFL) tanked 15.86 per cent to Rs 93.90, hitting an over five-year low on the BSE after rating agencies downgraded its commercial papers (CP), citing delays in debt servicing. The stock was trading at its lowest level since December 23, 2013 on the BSE.  Shares of Eros International Media were hammered by heavy selling during the early morning deals on Thursday after ratings company CARE cut its long-term loan facilities ratings from 'BBB-' to 'D'. The stock was locked in the lower circuit of 20 per cent at Rs 53.10 per share on the BSE, which was also its lifetime low. 

Benchmark indices posted their biggest one-day loss in 2019, dragged down by financials and bank stocks even though the monetary policy committee (MPC) of the Reserve Bank of India (RBI) reduced the repo rate by 25 basis points (bps) to 5.75 per cent in the second bi-monthly monetary policy meet of the financial year 2019-20 (FY20). Financials drop post DHFL crisis, liquidity issues, and trimmed GDP growth projections were among the major factors that dragged the markets lower on Thursday.    The benchmark S&P BSE Sensex slipped 554 points, or 1.38 per cent, to 39,530, with IndusInd Bank, Tata Steel, YES Bank, Larsen & Toubro, and State Bank of India were among the top losers. Only eight of the 30 BSE Sensex constituents ended the day in the green. The broader Nifty50 index tumbled 178 points, or 1.48 per cent, to 11,844. All the Nifty sectoral indices ended Thursday's session with losses, led by Nifty PSU Bank, down 4.9 per cent, and followed by Nifty Private Bank, down 2.29 per cent. In the broader market, the S&P BSE MidCap index tumbled 269 points, or 1.77 per cent, to 14,931, while the S&P BSE SmallCap index settled at 14,673, down 238 points, or 1.6 per cent. Buzzing stocks Shares of Dewan Housing Finance Corporation (DHFL) tanked 15.86 per cent to Rs 93.90, hitting an over five-year low on the BSE after rating agencies downgraded its commercial papers (CP), citing delays in debt servicing. The stock was trading at its lowest level since December 23, 2013 on the BSE.  Shares of Eros International Media were hammered by heavy selling during the early morning deals on Thursday after ratings company CARE cut its long-term loan facilities ratings from 'BBB-' to 'D'. The stock was locked in the lower circuit of 20 per cent at Rs 53.10 per share on the BSE, which was also its lifetime low. 

With the spectre of slowdown haunting the economy and rising unemployment, Prime Minister Narendra Modi on Wednesday constituted two new Cabinet committees under his chairmanship to spur economic growth and investmentb and employment. The five-member Cabinet Committee on Investment and Growth includes Home Minister Amit Shah, Finance Minister Nirmala Sitharaman, Road Transport and Highways and of MSME Minister Nitin Gadkari and Railway Minister Piyush Goyal. Another 10-member Cabinet Committee on Employment and Skill Development has been formed as well. Listen to this podcast for more.

With the spectre of slowdown haunting the economy and rising unemployment, Prime Minister Narendra Modi on Wednesday constituted two new Cabinet committees under his chairmanship to spur economic growth and investmentb and employment. The five-member Cabinet Committee on Investment and Growth includes Home Minister Amit Shah, Finance Minister Nirmala Sitharaman, Road Transport and Highways and of MSME Minister Nitin Gadkari and Railway Minister Piyush Goyal. Another 10-member Cabinet Committee on Employment and Skill Development has been formed as well. Listen to this podcast for more.

The Reserve Bank of India’s (RBI) June monetary policy decision, due later in the day, will be the biggest trigger for markets on Thursday. The RBI is widely expected to reduce the repo rate by 25 basis points (bps), a third in a row. Moreover, oil price, movement of rupee against the US dollar and global developments will also be keenly watched. Markets were shut on Wednesday on account of Eid-ul-Fitr. On Tuesday, the S&P BSE Sensex slipped 184 points to 40,084 levels while the broader Nifty50 index slumped 67 points to 12,022-mark.  The rupee settled unchanged at 69.26 against the US dollar. GLOBAL CUES Asian shares got off to a hesitant start on Thursday with MSCI’s broadest index of Asia-Pacific shares outside Japan dipping 0.01 per cent in early trade. Japan’s Nikkei remained flat. On Wall Street, indices ended in the green during the overnight trade on Wednesday. The Dow Jones Industrial Average added 207 points to close at 25,539 levels, while the Nasdaq gained 48 points to settle at 7,575-mark. The S&P500 added 23 points to close at 2,826 levels. In the commodities market, US crude futures sank into a bear market on Wednesday, falling more than 20 per cent below their April peak, as global-growth worries gripped the financial markets. At 6:45 am today, the US WTI was trading at $51.67 a barrel while Brent Crude futures were trading at $60.58 per barrel.

The Reserve Bank of India’s (RBI) June monetary policy decision, due later in the day, will be the biggest trigger for markets on Thursday. The RBI is widely expected to reduce the repo rate by 25 basis points (bps), a third in a row. Moreover, oil price, movement of rupee against the US dollar and global developments will also be keenly watched. Markets were shut on Wednesday on account of Eid-ul-Fitr. On Tuesday, the S&P BSE Sensex slipped 184 points to 40,084 levels while the broader Nifty50 index slumped 67 points to 12,022-mark.  The rupee settled unchanged at 69.26 against the US dollar. GLOBAL CUES Asian shares got off to a hesitant start on Thursday with MSCI’s broadest index of Asia-Pacific shares outside Japan dipping 0.01 per cent in early trade. Japan’s Nikkei remained flat. On Wall Street, indices ended in the green during the overnight trade on Wednesday. The Dow Jones Industrial Average added 207 points to close at 25,539 levels, while the Nasdaq gained 48 points to settle at 7,575-mark. The S&P500 added 23 points to close at 2,826 levels. In the commodities market, US crude futures sank into a bear market on Wednesday, falling more than 20 per cent below their April peak, as global-growth worries gripped the financial markets. At 6:45 am today, the US WTI was trading at $51.67 a barrel while Brent Crude futures were trading at $60.58 per barrel.

Benchmark indices ended Tuesday's session with losses, weighed down by tech stocks, as investors booked profit after both Sensex and Nifty's close at heady heights in the previous session. The S&P BSE Sensex slipped 184 points, or 0.46 per cent, to 40,084, with Hero MotoCorp, HCL Tech, TCS, Asian Paints, and IndusInd Bank leading the list of losers. Out of the 30 BSE constituents, 16 ended the day in the red. The broader Nifty50 index slumped 67 points to 12,022. The market breadth was in favour of sellers. About 990 stocks declined and 789 shares advanced on the NSE. Among Nifty sectoral indices, only Nifty Metal and Nifty PSU Bank indices ended the day in the green. Nifty IT took the deepest cut, down 1.56 per cent, while Nifty Media and Nifty Pharma also slipped over 1 per cent. In the broader market, the S&P BSE MidCap index dipped 33 points, or 0.2 per cent, to settle at 15,200, while the S&P BSE SmallCap closed at 14,911, down 28 points, or 0.19 per cent. BUZZING STOCKS Shares of GE Power India surged 5 per cent to Rs 930 on the BSE on Tuesday in early morning trade, after the company announced winning a contract worth Rs 738 crore from Aravali Power Company Private Limited. Aravali Power Company Private Limited is a Joint venture company of NTPC, Haryana Power Generation Company and Indraprastha Power Generation Company. The stock ended the day 2.32 per cent higher at Rs 905.    Shares of Manappuram Finance hit a new high of Rs 141, up 5 per cent on the BSE in intra-day trade on Tuesday on the back of heavy volumes in an otherwise subdued market before ending the day at Rs 138.90, up 3.43 per cent. Tuesday was the last trading day ahead of the RBI monetary policy outcome on Thursday, as the stock market will be closed on Wednesday on account of Eid-al-Fitr. Two-thirds of 66 economists polled by Reuters expect the MPC to wrap up on Thursday by cutting the repo rate by 25 basis points. 

Benchmark indices ended Tuesday's session with losses, weighed down by tech stocks, as investors booked profit after both Sensex and Nifty's close at heady heights in the previous session. The S&P BSE Sensex slipped 184 points, or 0.46 per cent, to 40,084, with Hero MotoCorp, HCL Tech, TCS, Asian Paints, and IndusInd Bank leading the list of losers. Out of the 30 BSE constituents, 16 ended the day in the red. The broader Nifty50 index slumped 67 points to 12,022. The market breadth was in favour of sellers. About 990 stocks declined and 789 shares advanced on the NSE. Among Nifty sectoral indices, only Nifty Metal and Nifty PSU Bank indices ended the day in the green. Nifty IT took the deepest cut, down 1.56 per cent, while Nifty Media and Nifty Pharma also slipped over 1 per cent. In the broader market, the S&P BSE MidCap index dipped 33 points, or 0.2 per cent, to settle at 15,200, while the S&P BSE SmallCap closed at 14,911, down 28 points, or 0.19 per cent. BUZZING STOCKS Shares of GE Power India surged 5 per cent to Rs 930 on the BSE on Tuesday in early morning trade, after the company announced winning a contract worth Rs 738 crore from Aravali Power Company Private Limited. Aravali Power Company Private Limited is a Joint venture company of NTPC, Haryana Power Generation Company and Indraprastha Power Generation Company. The stock ended the day 2.32 per cent higher at Rs 905.    Shares of Manappuram Finance hit a new high of Rs 141, up 5 per cent on the BSE in intra-day trade on Tuesday on the back of heavy volumes in an otherwise subdued market before ending the day at Rs 138.90, up 3.43 per cent. Tuesday was the last trading day ahead of the RBI monetary policy outcome on Thursday, as the stock market will be closed on Wednesday on account of Eid-al-Fitr. Two-thirds of 66 economists polled by Reuters expect the MPC to wrap up on Thursday by cutting the repo rate by 25 basis points. 

The Reserve Bank of India’s bi-monthly monetary policy meeting, that began on Monday with the decision due on June 6 (Thursday), will be keenly watched by the investors on Tuesday. According to news reports, expectations are that at least a 25 basis points (bps) rate cut can be expected in the June policy. Additionally, movement of rupee against the US dollar, FII inflows, crude oil prices, and global developments will also play a key role. On Monday, benchmark indices S&P BSE Sensex and the Nifty50 settled at their fresh closing peaks of 40,268 and 12,089 levels, respectively. In the intra-day trade, the indices hit their respective lifetime highs of 40,309 and 12,103.  The rupee appreciated by 44 paise to 69.26 against the US dollar. Global cues Asian stocks were trading cautiously on Tuesday with Japan’s Nikkei and South Korea’s Kospi losing 0.1 per cent each in the early morning deals. On Wall Street, the Dow Jones Industrial Average added 5 points, during the overnight trade on Monday, to settle at 24,820 while the Nasdaq slipped 120 points to close at 7,333 levels. The S&P500 shed 8 points to end at 2,744 levels. In commodities, oil prices fell amid a global economic slowdown triggering calls in the producer club OPEC for supply cuts to be extended. Brent crude futures were at $60.88 at around 6:00 am, 0.7 per cent below last session’s close.

The Reserve Bank of India’s bi-monthly monetary policy meeting, that began on Monday with the decision due on June 6 (Thursday), will be keenly watched by the investors on Tuesday. According to news reports, expectations are that at least a 25 basis points (bps) rate cut can be expected in the June policy. Additionally, movement of rupee against the US dollar, FII inflows, crude oil prices, and global developments will also play a key role. On Monday, benchmark indices S&P BSE Sensex and the Nifty50 settled at their fresh closing peaks of 40,268 and 12,089 levels, respectively. In the intra-day trade, the indices hit their respective lifetime highs of 40,309 and 12,103.  The rupee appreciated by 44 paise to 69.26 against the US dollar. Global cues Asian stocks were trading cautiously on Tuesday with Japan’s Nikkei and South Korea’s Kospi losing 0.1 per cent each in the early morning deals. On Wall Street, the Dow Jones Industrial Average added 5 points, during the overnight trade on Monday, to settle at 24,820 while the Nasdaq slipped 120 points to close at 7,333 levels. The S&P500 shed 8 points to end at 2,744 levels. In commodities, oil prices fell amid a global economic slowdown triggering calls in the producer club OPEC for supply cuts to be extended. Brent crude futures were at $60.88 at around 6:00 am, 0.7 per cent below last session’s close.

Benchmark indices Sensex and Nifty hit new closing highs on Monday, lifted by gains in heavyweights such as the HDFC twins and Reliance Industries, as fall in crude oil prices and hope of rate cut by the RBI's Monetary Policy Committee (MPC) to arrest growth slowdown lifted investor sentiment. The fourth-quarter growth numbers have forced many analysts to weigh in on a definite rate cut at Thursday’s monetary policy review, a Business Standard report said.    The indices also hit their respective fresh all-time highs in intra-day trading, with Sensex touching the 40,308.90 level and Nifty at 12,103.05. The benchmark S&P BSE Sensex closed 553 points higher at 40,268 levels, with Hero MotoCorp, Bajaj Auto, IndusInd Bank, Asian Paints, and Hindustan Unilever leading the list of gainers. Out of the 30 BSE constituents, only ITC, NTPC, and ICICI Bank ended the day in the red. The market breadth, however, was in declines, as out of the 2,769 companies traded on the BSE, 1,193 advanced, 1,416 declined, and 160 remained unchaged. The broader Nifty50 index ended the day 166 points, or 1.39 per cent, higher at 12,089 levels. Among sectoral indices, only Nifty Media ended Monday's session with losses, with Nifty Auto, Nfity Fin Service, Nifty FMCG, Nifty IT, and Nifty Metal, all gaining over 1 per cent. In the broader market, the S&P BSE MidCap index rose 136 points, or 0.9 per cent, to end the day around 15,232 levels, while the S&P BSE SmallCap index gained 71 points, or 0.48 per cent, to settle at 14,938 levels. BUZZING STOCKS Shares of Hero MotoCorp (HMCL) rose 6.01 per cent to Rs 2842.5 on the BSE on Monday after the company reported a 13.5 per cent rise in sales to 652,028 units in May over the previous month. The company had sold 574,366 units in April 2019, it said in a BSE filing.    Shares of aviation companies were in focus after they rallied up to nearly 8 per cent on the BSE during the early morning trade on Monday. Heavy volumes of shares were being traded at the bourses after Indian Oil Corporation slashed Aviation Turbine Fuel (ATF) price, which makes up 40 per cent of an airline's cost structure, for the first time in the past five months.

Benchmark indices Sensex and Nifty hit new closing highs on Monday, lifted by gains in heavyweights such as the HDFC twins and Reliance Industries, as fall in crude oil prices and hope of rate cut by the RBI's Monetary Policy Committee (MPC) to arrest growth slowdown lifted investor sentiment. The fourth-quarter growth numbers have forced many analysts to weigh in on a definite rate cut at Thursday’s monetary policy review, a Business Standard report said.    The indices also hit their respective fresh all-time highs in intra-day trading, with Sensex touching the 40,308.90 level and Nifty at 12,103.05. The benchmark S&P BSE Sensex closed 553 points higher at 40,268 levels, with Hero MotoCorp, Bajaj Auto, IndusInd Bank, Asian Paints, and Hindustan Unilever leading the list of gainers. Out of the 30 BSE constituents, only ITC, NTPC, and ICICI Bank ended the day in the red. The market breadth, however, was in declines, as out of the 2,769 companies traded on the BSE, 1,193 advanced, 1,416 declined, and 160 remained unchaged. The broader Nifty50 index ended the day 166 points, or 1.39 per cent, higher at 12,089 levels. Among sectoral indices, only Nifty Media ended Monday's session with losses, with Nifty Auto, Nfity Fin Service, Nifty FMCG, Nifty IT, and Nifty Metal, all gaining over 1 per cent. In the broader market, the S&P BSE MidCap index rose 136 points, or 0.9 per cent, to end the day around 15,232 levels, while the S&P BSE SmallCap index gained 71 points, or 0.48 per cent, to settle at 14,938 levels. BUZZING STOCKS Shares of Hero MotoCorp (HMCL) rose 6.01 per cent to Rs 2842.5 on the BSE on Monday after the company reported a 13.5 per cent rise in sales to 652,028 units in May over the previous month. The company had sold 574,366 units in April 2019, it said in a BSE filing.    Shares of aviation companies were in focus after they rallied up to nearly 8 per cent on the BSE during the early morning trade on Monday. Heavy volumes of shares were being traded at the bourses after Indian Oil Corporation slashed Aviation Turbine Fuel (ATF) price, which makes up 40 per cent of an airline's cost structure, for the first time in the past five months.

The Reserve Bank of India’s (RBI) monetary policy decision, which will be announced on June 6, along with the release of manufacturing and services PMI numbers as well as auto sales figures for May will guide the markets in the holiday-truncated week. Besides, markets are expected to react to weak GDP numbers released on Friday, global trade war concerns, crude oil prices and rupee movement against the US dollar. On Friday, the S&P BSE Sensex ended 118 points lower at 39,714 levels while the broader Nifty50 index finished at 11,923, down 23 points. On a weekly basis, both the indices posted a gain of 0.8 per cent. The rupee closed at Rs 69.69 per US dollar against Thursday’s close of Rs 69.87. GLOBAL CUES Asian share markets slipped to multi-month lows on Monday on mounting trade tensions across the globe. MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed in early trade, while Japan’s Nikkei skidded 1.1 per cent to a four-month low. On Wall Street, the Dow Jones fell 355 points during the overnight trade on Friday to close at 24,815 while the S&P500 lost 37 points to end at 2,752 levels. The Nasdaq, too, lost 114 points to end the session at 7,453 levels. In the commodities market, oil prices fell more than 1 per cent on Monday to extend losses of over 3 per cent from Friday. Brent crude futures were at $60.97 at 6:15 am, down 1.7 per cent from last session’s close.