Business Standard Podcast

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.

Benchmark indices ended Friday's session with cuts, dragged down by bank stocks, after giving up the early gains during which they reclaimed the crucial 40,000 and 12,000 levels, respectively. The S&P BSE Sensex ended the day 118 points, or 0.3 per cent, lower at 39,714 levels, with YES Bank, ITC, Vedanta, Mahindra & Mahindra, and NTPC leading the list of losers. The benchmark index slid almost 700 points off day's intra-day high, 40,122, but also staged a recovery to cut the losses. Out of the 30 BSE constituents, 19 ended the session in the red.  The broader Nifty50 index finished at 11,923, down 23 points, or 0.19 per cent. On a weekly basis, both Sensex and Nifty posted a gain of 0.8 per cent. NEW GOVERNMENT & PORTFOLIO ALLOCATION Putting rest to all speculation, the President of India on Friday released the portfolio details of new Cabinet, a day after Narendra Modi took oath as the country's 16th Prime Minister. There were expectations that Amit Shah, a seasoned stock broker and a key architect of NDA's victory for the second consecutive time will be handed over reigns of the Finance Ministry. This is after Arun Jaitley expressed his desire to stay away from any role in the new government citing health reasons. However, Nirmala Sitharaman has been appointed the new Finance Minister, while Amit Shah will handle the Home Ministry.    BUZZING STOCKS Shares of Hindustan Petroleum Corporation (HPCL) hit a 52-week high of Rs 330, up 4 per cent, before ending the day 2.05 per cent higher at Rs 234.15 on the BSE, lifted by strong earnings in March quarter (Q4FY19) and fall in crude oil prices. In comparison, the S&P BSE Sensex was up 5 per cent during the same period. Coal India shares rallied as much as 4.11 per cent in the morning deals on Friday, a day after the company reported an impressive 362.46 per cent jump in its net profit at Rs 6,024.23 crore for the quarter ended March 31, 2019. The stock ended the session 0.18 per cent higher at Rs 253.35. 

Benchmark indices ended Friday's session with cuts, dragged down by bank stocks, after giving up the early gains during which they reclaimed the crucial 40,000 and 12,000 levels, respectively. The S&P BSE Sensex ended the day 118 points, or 0.3 per cent, lower at 39,714 levels, with YES Bank, ITC, Vedanta, Mahindra & Mahindra, and NTPC leading the list of losers. The benchmark index slid almost 700 points off day's intra-day high, 40,122, but also staged a recovery to cut the losses. Out of the 30 BSE constituents, 19 ended the session in the red.  The broader Nifty50 index finished at 11,923, down 23 points, or 0.19 per cent. On a weekly basis, both Sensex and Nifty posted a gain of 0.8 per cent. NEW GOVERNMENT & PORTFOLIO ALLOCATION Putting rest to all speculation, the President of India on Friday released the portfolio details of new Cabinet, a day after Narendra Modi took oath as the country's 16th Prime Minister. There were expectations that Amit Shah, a seasoned stock broker and a key architect of NDA's victory for the second consecutive time will be handed over reigns of the Finance Ministry. This is after Arun Jaitley expressed his desire to stay away from any role in the new government citing health reasons. However, Nirmala Sitharaman has been appointed the new Finance Minister, while Amit Shah will handle the Home Ministry.    BUZZING STOCKS Shares of Hindustan Petroleum Corporation (HPCL) hit a 52-week high of Rs 330, up 4 per cent, before ending the day 2.05 per cent higher at Rs 234.15 on the BSE, lifted by strong earnings in March quarter (Q4FY19) and fall in crude oil prices. In comparison, the S&P BSE Sensex was up 5 per cent during the same period. Coal India shares rallied as much as 4.11 per cent in the morning deals on Friday, a day after the company reported an impressive 362.46 per cent jump in its net profit at Rs 6,024.23 crore for the quarter ended March 31, 2019. The stock ended the session 0.18 per cent higher at Rs 253.35. 

The gross domestic product (GDP) numbers for the fourth quarter as well as the financial year 2018-19, which is slated to release later in the day, will be on investors' radar on Friday. Additionally, Q4 results, rupee movement against the US dollar, crude oil prices and other global developments will also be closely tracked. On Thursday, the benchmark S&P BSE Sensex index closed 330 points higher at 39,832 levels while the broader Nifty50 index settled at 11,946 levels with a gain of 85 points. Narendra Modi takes oath as PM for the 2nd time On Thursday, Narendra Modi took oath as the 16th prime minister of India during a swearing-in ceremony at Rashtrapati Bhawan in New Delhi. Along with him, 57 mianisters including 25 cabinet ministers also took the oath.  Corporate earnings As many as 11 companies are slated to declare their March quarter numbers today.  Global cues Asian shares extended a month-long slide on Friday after US President Donald Trump slapped tariffs on all goods from Mexico. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.1 per cent while Japan’s Nikkei fell 1.2 per cent in early trade. On Wall Street, the Dow Jones Industrial Average added 43 points to close at 25,170 levels during the overnight trade on Thursday. The S&P500 added 6 points while the Nasdaq gained 20 points to settle at 2,789 and 7,568 levels respectively.

The gross domestic product (GDP) numbers for the fourth quarter as well as the financial year 2018-19, which is slated to release later in the day, will be on investors' radar on Friday. Additionally, Q4 results, rupee movement against the US dollar, crude oil prices and other global developments will also be closely tracked. On Thursday, the benchmark S&P BSE Sensex index closed 330 points higher at 39,832 levels while the broader Nifty50 index settled at 11,946 levels with a gain of 85 points. Narendra Modi takes oath as PM for the 2nd time On Thursday, Narendra Modi took oath as the 16th prime minister of India during a swearing-in ceremony at Rashtrapati Bhawan in New Delhi. Along with him, 57 mianisters including 25 cabinet ministers also took the oath.  Corporate earnings As many as 11 companies are slated to declare their March quarter numbers today.  Global cues Asian shares extended a month-long slide on Friday after US President Donald Trump slapped tariffs on all goods from Mexico. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.1 per cent while Japan’s Nikkei fell 1.2 per cent in early trade. On Wall Street, the Dow Jones Industrial Average added 43 points to close at 25,170 levels during the overnight trade on Thursday. The S&P500 added 6 points while the Nasdaq gained 20 points to settle at 2,789 and 7,568 levels respectively.

Benchmark indices on Thursday resumed their record closing run after one-day drop on the back of gains made in index heavyweights Reliance Industries and HDFC twins on the expiry day of May series Futures & Options (F&O) contracts. The benchmark S&P BSE Sensex index closed 330 points, or 0.84 per cent, higher, at 39,832 levels, with NTPC, Bharti Airtel, Bajaj Finance, TCS, and YES Bank leading the list of gainers. Out of the 30 BSE constituents, 21 ended the day in the green. The broader Nifty50 index settled at 11,946 levels, with a gain of 85 points, or 0.71 per cent. The market breadth was in favour of buyers. About 877 stocks advanced and 872 shares declined on the NSE.   The Nifty sectoral indices traded mixed in the day. Nifty Fin Service Index was the top gainer among the indices, up 1.16 per cent, while Nifty Auto index took the deepest cut, down 0.56 per cent. In the broader market, the S&P BSE MidCap index rose 60 points, or 0.40 per cent, to settle at 15,061, while the S&P BSE SmallCap index finished the day 30 points, or 0.2 per cent, higher at 14,964 levels. BUZZING STOCKS Voltamp Transformers on Thursday rose 12.75 per cent to Rs 1,216.65 on the BSE, supported by the 10 per cent rally after the company recommended a total dividend of Rs 22.50 per share for the year ended March 31, 2019.  Shares of Manpasand Beverages continued their downward spiral on Thursday, slipping 9.94 per cent to hit an all-time low of Rs 57.10 per share on the BSE. The stock took the beating after some of its officials, who are under judicial custody following search by the Goods and Services Tax (GST) department, were denied bail. The stock has tanked 48 per cent in the last four trading sessions. 

Benchmark indices on Thursday resumed their record closing run after one-day drop on the back of gains made in index heavyweights Reliance Industries and HDFC twins on the expiry day of May series Futures & Options (F&O) contracts. The benchmark S&P BSE Sensex index closed 330 points, or 0.84 per cent, higher, at 39,832 levels, with NTPC, Bharti Airtel, Bajaj Finance, TCS, and YES Bank leading the list of gainers. Out of the 30 BSE constituents, 21 ended the day in the green. The broader Nifty50 index settled at 11,946 levels, with a gain of 85 points, or 0.71 per cent. The market breadth was in favour of buyers. About 877 stocks advanced and 872 shares declined on the NSE.   The Nifty sectoral indices traded mixed in the day. Nifty Fin Service Index was the top gainer among the indices, up 1.16 per cent, while Nifty Auto index took the deepest cut, down 0.56 per cent. In the broader market, the S&P BSE MidCap index rose 60 points, or 0.40 per cent, to settle at 15,061, while the S&P BSE SmallCap index finished the day 30 points, or 0.2 per cent, higher at 14,964 levels. BUZZING STOCKS Voltamp Transformers on Thursday rose 12.75 per cent to Rs 1,216.65 on the BSE, supported by the 10 per cent rally after the company recommended a total dividend of Rs 22.50 per share for the year ended March 31, 2019.  Shares of Manpasand Beverages continued their downward spiral on Thursday, slipping 9.94 per cent to hit an all-time low of Rs 57.10 per share on the BSE. The stock took the beating after some of its officials, who are under judicial custody following search by the Goods and Services Tax (GST) department, were denied bail. The stock has tanked 48 per cent in the last four trading sessions. 

Prime Minister Narendra Modi on Thursday held a final round of consultations with BJP president Amit Shah and is learnt to have given shape to his council of ministers ahead of the swearing-in ceremony of his new government in the evening.  The list of union ministers is likely to be sent to the Rashtrapati Bhavan soon, sources said.  Capping a landslide election victory, Modi will take oath along with a new council of ministers for a second term at 7 pm. Modi and Shah have held several rounds of discussions in the last two days ahead of government formation. Sources said Modi government 2.0 is likely to have representation from most allies and showcase the party's newfound strength in different regions. Listen to this podcast for more.

Prime Minister Narendra Modi on Thursday held a final round of consultations with BJP president Amit Shah and is learnt to have given shape to his council of ministers ahead of the swearing-in ceremony of his new government in the evening.  The list of union ministers is likely to be sent to the Rashtrapati Bhavan soon, sources said.  Capping a landslide election victory, Modi will take oath along with a new council of ministers for a second term at 7 pm. Modi and Shah have held several rounds of discussions in the last two days ahead of government formation. Sources said Modi government 2.0 is likely to have representation from most allies and showcase the party's newfound strength in different regions. Listen to this podcast for more.

The expiry of May series F&O contracts and US-China trade war concerns will be key triggers for indices on Thursday. Q4 results, FII inflow, crude oil prices and the movement of rupee against the US dollar will also be closely tracked.  Benchmark indices ended Wednesday's session with losses. The S&P BSE Sensex slipped 248 points, or 0.6 per cent, to settle at 39,502, while the broader Nifty50 index ended the day at 11,861 levels. The rupee settled 14 paise lower at 69.83 per US dollar against Tuesday's close of Rs 69.68. RESULTS CORNER Coal India, ONGC and SAIL are among the 1,267 companies slated to declare their March quarter results for the financial year 2018-19 (FY19) today.  GLOBAL CUES Asian stocks were trading with losses on Thursday as rhetoric from Beijing and Washington over trade matters kept alive investor concerns. MSCI’s broadest index of Asia-Pacific shares outside Japan stood little changed while Japan’s Nikkei was down 0.5 per cent and Australian stocks shed 0.66 per cent. US stocks tumbled in the overnight trade. The Dow Jones Industrial Average slipped 221 points to end at 25,126 while the S&P500 lost 19 points to settle at 2,783 levels. The Nasdaq too shed 60 points to close at 7,547 levels. In commodities, oil prices climbed on Thursday after an industry report showed a decline in US crude inventories. Brent crude futures were up 3 cents at $69.48.

The expiry of May series F&O contracts and US-China trade war concerns will be key triggers for indices on Thursday. Q4 results, FII inflow, crude oil prices and the movement of rupee against the US dollar will also be closely tracked.  Benchmark indices ended Wednesday's session with losses. The S&P BSE Sensex slipped 248 points, or 0.6 per cent, to settle at 39,502, while the broader Nifty50 index ended the day at 11,861 levels. The rupee settled 14 paise lower at 69.83 per US dollar against Tuesday's close of Rs 69.68. RESULTS CORNER Coal India, ONGC and SAIL are among the 1,267 companies slated to declare their March quarter results for the financial year 2018-19 (FY19) today.  GLOBAL CUES Asian stocks were trading with losses on Thursday as rhetoric from Beijing and Washington over trade matters kept alive investor concerns. MSCI’s broadest index of Asia-Pacific shares outside Japan stood little changed while Japan’s Nikkei was down 0.5 per cent and Australian stocks shed 0.66 per cent. US stocks tumbled in the overnight trade. The Dow Jones Industrial Average slipped 221 points to end at 25,126 while the S&P500 lost 19 points to settle at 2,783 levels. The Nasdaq too shed 60 points to close at 7,547 levels. In commodities, oil prices climbed on Thursday after an industry report showed a decline in US crude inventories. Brent crude futures were up 3 cents at $69.48.

Benchmark indices ended Wednesday's trading session with losses ahead of the May series futures , thereby breaking the three-day streak when they closed at record high levels, ahead of expiry of May series F&O contracts. Bank, auto, and metal stocks suffered the deepest cuts. The benchmark S&P BSE Sensex index slipped 248 points, or 0.6 per cent, to settle at 39,502, with State Bank of India, Tata Motors, Tata Steel, ICICI Bank, and Maruti Suzuki being the top losers. Only nine out of the 30 BSE constituents ended the day in green. The broader Nifty50 index gave up the 11,900-mark, and finished the day at 11,861 levels. Among Nifty sectoral indices, only Nifty IT managed to stay in the green zone, with Nifty PSU Bank index, down 2.8 per cent, falling the most, followed by Nifty Metal, down 1.9 per cent. In the broader market, the S&P BSE MidCap index slumped 126 points, or 0.8 per cent, to trade around 15,001 levels, while the S&P BSE SmallCap dipped 86 points, or 0.57 per cent, to end at 14,934. BUZZING STOCKS Logistics stocks were in focus in early morning trade on the BSE on Wednesday on the back of heavy volumes amid expectations of earnings improvement.  Adani Gas shares hit a new high of Rs 174 before ending the day 2.6 per cent higher at Rs 167.45 on the BSE on the back of strong numbers in March quarter (Q4FY19) results. In comparison, the S&P BSE Sensex was up 0.65 per cent during the same period.

Benchmark indices ended Wednesday's trading session with losses ahead of the May series futures , thereby breaking the three-day streak when they closed at record high levels, ahead of expiry of May series F&O contracts. Bank, auto, and metal stocks suffered the deepest cuts. The benchmark S&P BSE Sensex index slipped 248 points, or 0.6 per cent, to settle at 39,502, with State Bank of India, Tata Motors, Tata Steel, ICICI Bank, and Maruti Suzuki being the top losers. Only nine out of the 30 BSE constituents ended the day in green. The broader Nifty50 index gave up the 11,900-mark, and finished the day at 11,861 levels. Among Nifty sectoral indices, only Nifty IT managed to stay in the green zone, with Nifty PSU Bank index, down 2.8 per cent, falling the most, followed by Nifty Metal, down 1.9 per cent. In the broader market, the S&P BSE MidCap index slumped 126 points, or 0.8 per cent, to trade around 15,001 levels, while the S&P BSE SmallCap dipped 86 points, or 0.57 per cent, to end at 14,934. BUZZING STOCKS Logistics stocks were in focus in early morning trade on the BSE on Wednesday on the back of heavy volumes amid expectations of earnings improvement.  Adani Gas shares hit a new high of Rs 174 before ending the day 2.6 per cent higher at Rs 167.45 on the BSE on the back of strong numbers in March quarter (Q4FY19) results. In comparison, the S&P BSE Sensex was up 0.65 per cent during the same period.

Three West Bengal MLAs, including BJP leader Mukul Roy's son Subhrangshu Roy, and over 50 municipal councillors, most of them from the Trinamool Congress, joined the saffron party Tuesday as it works to consolidate its position in the state following its impressive show there in Lok Sabha polls. The MLAs who joined the BJP at a press conference are TMC's Tusharkanti Bhattacharya and CPI(M)'s Debendra Nath Roy, besides Roy who was suspended from the state's ruling party for "anti-party" activities after the general elections results were announced. BJP general secretary and its in-charge for the state affairs Kailash Vijaywargiya and Mukul Roy told reporters that more MLAs from the TMC, which is headed by West Bengal Chief Minister Mamata Banerjee, will join the saffron party in the coming days. Listen to this podcast for more.

Three West Bengal MLAs, including BJP leader Mukul Roy's son Subhrangshu Roy, and over 50 municipal councillors, most of them from the Trinamool Congress, joined the saffron party Tuesday as it works to consolidate its position in the state following its impressive show there in Lok Sabha polls. The MLAs who joined the BJP at a press conference are TMC's Tusharkanti Bhattacharya and CPI(M)'s Debendra Nath Roy, besides Roy who was suspended from the state's ruling party for "anti-party" activities after the general elections results were announced. BJP general secretary and its in-charge for the state affairs Kailash Vijaywargiya and Mukul Roy told reporters that more MLAs from the TMC, which is headed by West Bengal Chief Minister Mamata Banerjee, will join the saffron party in the coming days. Listen to this podcast for more.