Business Standard Podcast

Corporate action, crude oil prices, the US-China trade talks, phase 5 of the 2019 Lok Sabha elections and macro-data on industrial production would be the key triggers for Indian indices this week. India's Service PMI for the month of April 2019 will be out on May 6 followed by Industrial Production and Manufacturing production for April Month (YoY) on May 10 Benchmark indices, BSE Sensex and NSE Nifty, both remained range bound during the past week and closed at 38,963, and 11,712 levels respectively. On a weekly basis, the Sensex was down 0.26 per cent, while the Nifty closed 0.36 per cent lower. Earnings corner Over 150 companies, including Marico, SBI, and IOC, are scheduled to declare their March quarter earnings this week. Banking and telecom majors ICICI Bank and Bharti Airtel, respectively, will declare their results later today. Lok Sabha elections Voting for phase 5 of the 2019 Lok Sabha elections will be held today in about 51 seats across Bihar, Jharkhand, Uttar Pradesh, West Bengal, Madhya Pradesh, Rajasthan, and Jammu and Kashmir. FII & DII data Most of the rally witnessed during the past week was supported by foreign institutional investors (FIIs), who remained net buyers during the week to the tune of Rs 311.45 crore. The domestic institutional investors (DIIs) were net sellers as they continued to prefer profit booking, and sold Rs 4.6 crore worth of equities in the last week. Oil and Rupee Brent crude futures were trading at $69.11 a barrel at 6.45 am on Monday, down 2.46 per cent. The domestic currency closed at Rs 69.22 against a dollar on Friday, against Thursday’s close of Rs 69.35. Global cues The US President, Donald Trump’s, “surprise pressure” on China to reach a trade deal would create turmoil in the markets across the globe. Trump has said he would raise tariffs on $200 billion of goods to 25 percent on Friday from 10 per cent. In early Asian trade, MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.2 per cent. During the overnight trade, Dow Jones Industrial Average was up 0.75 per cent to settle at 26,505, S&P500 was up 0.96 per cent at 2,946 and Nasdaq gained 1.58 per cent to settle at 8,164 levels.

Cyclone Fani made a landfall in Puri on Odisha coast this morning on Friday which triggered heavy rainfall coupled with high velocity winds with speed of 175 kmph in vast areas. Large areas in the seaside pilgrim town of Puri and other places were submerged with water as heavy rains battered the entire coastal belt of the state. Several trees were uprooted and thatched structures destroyed at some places including Bhubaneswar. According to the Joint Typhoon Warning Centre, Cyclone Fani is billed as the most severe cyclonic storm since the super cyclone of 1999 that claimed close to 10,000 lives and left a trail of destruction in vast swathes of Odisha, Listen to this podcast for more

Cyclone Fani made a landfall in Puri on Odisha coast this morning on Friday which triggered heavy rainfall coupled with high velocity winds with speed of 175 kmph in vast areas. Large areas in the seaside pilgrim town of Puri and other places were submerged with water as heavy rains battered the entire coastal belt of the state. Several trees were uprooted and thatched structures destroyed at some places including Bhubaneswar. According to the Joint Typhoon Warning Centre, Cyclone Fani is billed as the most severe cyclonic storm since the super cyclone of 1999 that claimed close to 10,000 lives and left a trail of destruction in vast swathes of Odisha, Listen to this podcast for more

March quarter earnings will continue to dominate investor sentiment on Friday. Besides, The Bank of England's status quo on interest rates and an increase in its economic growth forecast are also expected to guide markets. Data on India’s foreign exchange (Forex) reserves, which will be made public later in the day, will also be keenly awaited.   On Thursday, benchmark indices, S&P BSE Sensex and NSE Nifty50, dropped 50 points and 23 points, respectively to settle at 38,981 and 11,725 levels. Rupee closed at Rs 69.35 against a dollar.   EARNINGS CORNER  About 24 companies including Hindustan Unilever, Tata Chemicals, Century Textiles, Cholamandalam Financial Holdings and L&T Technology Services are scheduled to declare their Q4 numbers for the financial year 2018-19 (FY19) today. GLOBAL CUES Oil prices eased further on Friday as concerns of oversupply gripped the commodity market. The Brent crude was trading at $70.54 a barrel at 6:45 am. While the Asian share markets were subdued on Friday amid thin holiday trade, the US stocks ended in the red during the overnight trade. The Dow Jones Industrial Average fell 122 points to end at 26,308. S&P 500 and Nasdaq, too, dropped 6.21 and 12.87 points, respectively to end at 2,918 and 8,037 levels. The UK’s Bank of England kept its interest rate steady at 0.75 per cent but signaled more frequent rate increases than what the market currently expects in the future, subject to the UK’s “smooth exit” from the European Union. It projected a decline in unemployment, greater excess demand than previously predicted and fall in the near-term inflation outlook.

March quarter earnings will continue to dominate investor sentiment on Friday. Besides, The Bank of England's status quo on interest rates and an increase in its economic growth forecast are also expected to guide markets. Data on India’s foreign exchange (Forex) reserves, which will be made public later in the day, will also be keenly awaited.   On Thursday, benchmark indices, S&P BSE Sensex and NSE Nifty50, dropped 50 points and 23 points, respectively to settle at 38,981 and 11,725 levels. Rupee closed at Rs 69.35 against a dollar.   EARNINGS CORNER  About 24 companies including Hindustan Unilever, Tata Chemicals, Century Textiles, Cholamandalam Financial Holdings and L&T Technology Services are scheduled to declare their Q4 numbers for the financial year 2018-19 (FY19) today. GLOBAL CUES Oil prices eased further on Friday as concerns of oversupply gripped the commodity market. The Brent crude was trading at $70.54 a barrel at 6:45 am. While the Asian share markets were subdued on Friday amid thin holiday trade, the US stocks ended in the red during the overnight trade. The Dow Jones Industrial Average fell 122 points to end at 26,308. S&P 500 and Nasdaq, too, dropped 6.21 and 12.87 points, respectively to end at 2,918 and 8,037 levels. The UK’s Bank of England kept its interest rate steady at 0.75 per cent but signaled more frequent rate increases than what the market currently expects in the future, subject to the UK’s “smooth exit” from the European Union. It projected a decline in unemployment, greater excess demand than previously predicted and fall in the near-term inflation outlook.

Benchmark indices ended marginally lower on a volatile day with India Vix rising 5.19 per cent to 22.96 on Thursday in which IT and Pharma stocks dragged the indices down. The Sensex ended the day 50 points, or 0.13 per cent, lower at 38,981 levels, with TATA Motors, ICICI Bank, IndusInd Bank, Infosys and HCL Tech among the biggest losers. Nifty50 failed to hold the 11,750 level and closed at 11,725 levels, down 23 points, or 0.20 per cent. Among sectoral indices, Nifty IT index was the biggest loser, down 1.8 per cent, led by a fall in Infosys, TCS and HCL Technologies. The Nifty Media index also dipped over 1 per cent. The broader market fared worse with the S&P BSE MidCap index tumbling 91 points, or 0.61 per cent, to 14,798, while the S&P BSE SmallCap index ended the dat at 14,593, down 31 points, or 0.21 per cent. Escorts shares slipped 7.5 per cent to Rs 684 after the farm equity major reported a 15 per cent decline in tractor sales to 5,264 units in April 2019. The company had sold 6,186 tractors in the same month last year. READ MORE Jet Airways (India) shares skid 20 per cent to hit its 52-week low of Rs 123 on the BSE in early morning trade, on report that bidders have not shown interest in following up their offers for the debt-laden airline with a few days left to submit their final bids. The stock is trading close to its all-time low level of Rs 115 touched on March 12, 2009 in intra-day trade. READ MORE Ashok Leyland shares rose 4 per cent to Rs 90.40 on the National Stock Exchange (NSE), after the company reported 10 per cent rise in the domestic vehicles sales at 13,141 units in April 2019. The commercial vehicles company had sold 11,951 vehicles in domestic market during the same month last year.

Benchmark indices ended marginally lower on a volatile day with India Vix rising 5.19 per cent to 22.96 on Thursday in which IT and Pharma stocks dragged the indices down. The Sensex ended the day 50 points, or 0.13 per cent, lower at 38,981 levels, with TATA Motors, ICICI Bank, IndusInd Bank, Infosys and HCL Tech among the biggest losers. Nifty50 failed to hold the 11,750 level and closed at 11,725 levels, down 23 points, or 0.20 per cent. Among sectoral indices, Nifty IT index was the biggest loser, down 1.8 per cent, led by a fall in Infosys, TCS and HCL Technologies. The Nifty Media index also dipped over 1 per cent. The broader market fared worse with the S&P BSE MidCap index tumbling 91 points, or 0.61 per cent, to 14,798, while the S&P BSE SmallCap index ended the dat at 14,593, down 31 points, or 0.21 per cent. Escorts shares slipped 7.5 per cent to Rs 684 after the farm equity major reported a 15 per cent decline in tractor sales to 5,264 units in April 2019. The company had sold 6,186 tractors in the same month last year. READ MORE Jet Airways (India) shares skid 20 per cent to hit its 52-week low of Rs 123 on the BSE in early morning trade, on report that bidders have not shown interest in following up their offers for the debt-laden airline with a few days left to submit their final bids. The stock is trading close to its all-time low level of Rs 115 touched on March 12, 2009 in intra-day trade. READ MORE Ashok Leyland shares rose 4 per cent to Rs 90.40 on the National Stock Exchange (NSE), after the company reported 10 per cent rise in the domestic vehicles sales at 13,141 units in April 2019. The commercial vehicles company had sold 11,951 vehicles in domestic market during the same month last year.

The United Nations on Wednesday listed Pakistan-based Jaish-e-Mohammed chief Masood Azhar as a global terrorist after China lifted its hold on the proposal. "Big, small, all join together. Masood Azhar designated as a terrorist in UN Sanctions list.  China had put a hold in March on a fresh proposal by the US, UK and France to impose a ban on the chief of the JeM, which claimed responsibility for the deadly Pulwama terror attack. Prime Minister Narendra Modi Wednesday said the UN decision to declare Masood Azhar as a global terrorist is a big success for India's efforts to root out terrorism and proved that the country's voice can no longer be ignored on the global stage. Listen to this podcast for more

The United Nations on Wednesday listed Pakistan-based Jaish-e-Mohammed chief Masood Azhar as a global terrorist after China lifted its hold on the proposal. "Big, small, all join together. Masood Azhar designated as a terrorist in UN Sanctions list.  China had put a hold in March on a fresh proposal by the US, UK and France to impose a ban on the chief of the JeM, which claimed responsibility for the deadly Pulwama terror attack. Prime Minister Narendra Modi Wednesday said the UN decision to declare Masood Azhar as a global terrorist is a big success for India's efforts to root out terrorism and proved that the country's voice can no longer be ignored on the global stage. Listen to this podcast for more

Oil prices, Fed meet outcome, auto sales numbers, rupee movement and March quarter earnings will be key triggers for the Indian indices on Thursday. Markets will resume trading today after a day’s off on account of Maharashtra Day. BSE Sensex, on Tuesday, closed at 39,032, down 36 points, or 0.09 per cent while the broader Nifty50 slid 6.5 points, or 0.06 per cent, to end at 11,748. Rupee closed at Rs 69.56 per dollar. India’s Manufacturing Purchasing Manager’s Index (PMI) data is also due for release later today. Earnings corner Close to 40 companies will release their Q4 earnings for the financial year 2018-19. These will include Bandhan Bank, Bombay Dyeing, Dabur, MRF, and Tata Power. Global cues Oil prices will be under watch as the US’ decision against oil import from Iran will come into effect from today. Trump administration, last month, had ended waivers given to oil importing countries. Oil prices dipped on Thursday after data showed record US crude oil production even as oil markets, outside of the US, remained tense. Spot Brent crude futures were at $72.09 per barrel, down 0.1 per cent.  MSCI’s broadest index of Asia-Pacific shares outside Japan was off 0.1 per cent, trading in a tight band. Indices in Japan and China were shut and will resume trading from next Tuesday and Monday respectively. US indices ended marginally lower after the Federal Reserve kept interest rates unchanged in the target between 2.25 per cent and 2.5 per cent, against expectations of “precautionary cut” to stoke inflation. The Dow Jones Industrial Average ended at 26,430, down 163 points, S&P500 shed 22 points to close at 2,924. Nasdaq ended 46 points lower at 8,050. 

Oil prices, Fed meet outcome, auto sales numbers, rupee movement and March quarter earnings will be key triggers for the Indian indices on Thursday. Markets will resume trading today after a day’s off on account of Maharashtra Day. BSE Sensex, on Tuesday, closed at 39,032, down 36 points, or 0.09 per cent while the broader Nifty50 slid 6.5 points, or 0.06 per cent, to end at 11,748. Rupee closed at Rs 69.56 per dollar. India’s Manufacturing Purchasing Manager’s Index (PMI) data is also due for release later today. Earnings corner Close to 40 companies will release their Q4 earnings for the financial year 2018-19. These will include Bandhan Bank, Bombay Dyeing, Dabur, MRF, and Tata Power. Global cues Oil prices will be under watch as the US’ decision against oil import from Iran will come into effect from today. Trump administration, last month, had ended waivers given to oil importing countries. Oil prices dipped on Thursday after data showed record US crude oil production even as oil markets, outside of the US, remained tense. Spot Brent crude futures were at $72.09 per barrel, down 0.1 per cent.  MSCI’s broadest index of Asia-Pacific shares outside Japan was off 0.1 per cent, trading in a tight band. Indices in Japan and China were shut and will resume trading from next Tuesday and Monday respectively. US indices ended marginally lower after the Federal Reserve kept interest rates unchanged in the target between 2.25 per cent and 2.5 per cent, against expectations of “precautionary cut” to stoke inflation. The Dow Jones Industrial Average ended at 26,430, down 163 points, S&P500 shed 22 points to close at 2,924. Nasdaq ended 46 points lower at 8,050. 

The stock market regulator has asked India’s largest stock exchange by traded volume NSE to pay over Rs 1000 crore over a scandal which allowed some brokers to make money through gaining preferential access to the stock exchange servers. A look at the exchange disclosures shows that it has provided for nearly Rs 2000 crore as provisions, pending directions from the Securities and Exchange Board of India (Sebi). Listen to this podcast for more

The stock market regulator has asked India’s largest stock exchange by traded volume NSE to pay over Rs 1000 crore over a scandal which allowed some brokers to make money through gaining preferential access to the stock exchange servers. A look at the exchange disclosures shows that it has provided for nearly Rs 2000 crore as provisions, pending directions from the Securities and Exchange Board of India (Sebi). Listen to this podcast for more

The benchmark indices closed Tuesday's session marginally lower. Both Sensex and Nifty spent the majority of their day in the negative zone, with the former sliding almost 300 points at one point, dragged down by financials. However, buying in metal stocks and OMCs lifted the indices in the last hour of trade but couldn't pull the indices out of the red zone. The S&P BSE Sensex ended the day at 39,032, down 36 points, or 0.09 per cent, with YES Bank, IndusInd Bank, Hero MotoCorp, Maruti Suzuki India, and Powergrid being among the top losers. The broader Nifty50 also slid 6.5 points, or 0.06 per cent, to 11,748. About 1,326 stocks fell and 468 shares declined on the NSE. Among sectoral indices, the biggest loser was the Nifty PSU Bank index, down 3.34 per cent, while Nifty Realty also fell 2.3 per cent. The broader markets undperformed the benchmark indices, with the S&P BSE MidCap index slipping 175 points, or 1.16 per cent, to 14,889, while the S&P BSE SmallCap index was ruling at 14,625, down 189 points, or 1.27 per cent. BUZZING STOCKS YES Bank shares tanked 29.2 per cent to Rs 168 on the National Stock Exchange (NSE) after the bank reported a whopping Rs 1,506 crore net loss for the March quarter (Q4FY19) as provisions soared over nine times. The private sector bank posted its first-ever quarterly loss during the quarter. It had posted a profit of Rs 1,179 crore in the year-ago period.  Eveready Industries shares plunged 20 per cent to Rs 116.85 after rating agency India Ratings and Research (Ind-Ra) downgraded the company's long-term credit rating with negative outlook.

The benchmark indices closed Tuesday's session marginally lower. Both Sensex and Nifty spent the majority of their day in the negative zone, with the former sliding almost 300 points at one point, dragged down by financials. However, buying in metal stocks and OMCs lifted the indices in the last hour of trade but couldn't pull the indices out of the red zone. The S&P BSE Sensex ended the day at 39,032, down 36 points, or 0.09 per cent, with YES Bank, IndusInd Bank, Hero MotoCorp, Maruti Suzuki India, and Powergrid being among the top losers. The broader Nifty50 also slid 6.5 points, or 0.06 per cent, to 11,748. About 1,326 stocks fell and 468 shares declined on the NSE. Among sectoral indices, the biggest loser was the Nifty PSU Bank index, down 3.34 per cent, while Nifty Realty also fell 2.3 per cent. The broader markets undperformed the benchmark indices, with the S&P BSE MidCap index slipping 175 points, or 1.16 per cent, to 14,889, while the S&P BSE SmallCap index was ruling at 14,625, down 189 points, or 1.27 per cent. BUZZING STOCKS YES Bank shares tanked 29.2 per cent to Rs 168 on the National Stock Exchange (NSE) after the bank reported a whopping Rs 1,506 crore net loss for the March quarter (Q4FY19) as provisions soared over nine times. The private sector bank posted its first-ever quarterly loss during the quarter. It had posted a profit of Rs 1,179 crore in the year-ago period.  Eveready Industries shares plunged 20 per cent to Rs 116.85 after rating agency India Ratings and Research (Ind-Ra) downgraded the company's long-term credit rating with negative outlook.