Weekly Market Overview Report (25th-30th Dec 2017 )
Indian Market Outlook:
The stock market witnessed good gains in week ended 22 December 2017, on the back of the BJP win in the recently concluded assembly elections in Gujarat and Himachal Pradesh. BSE Sensex and the Nifty index closed at record highs.
The Sensex surged 477.33 points, or 1.42%, to settle at 33,940.30 while Nifty advanced 159.75 points, or 1.54%, to settle at 10,493. Mid and Small cap indices outperformed the key indices.
Going forward we expects market to remain volatile due to various events along with F&O segment expiry next week. Apart from this Macroeconomic data, trend in global markets, investment by FPIs and DIIs, the movement of rupee against the dollar and crude oil price movement will dictate near term trend on the bourses in the truncated week ahead.
Latest Spot Price (in US$):
|Precious Metal||Current Price||Change(%)||3month||6month||1 year|
Global Weekly Events
|Dec,27 ,2017||JPY||Housing starts YoY (Nov)||-2.5%||-4.8%|
|Dec,28 ,2017||USD||Initial Jobless Claim||240K||245K|
|Dec,30,2017||CNY||Manufacturing PMI (Dec)||51.4||51.8|
|Dec,30,,2017||CNY||Non-Manufacturing PMI (Dec)||–||54.8|
Domestic Economy Indicators
|Heading||Indicators||Current Rate||Pre Rate|
|RBI Policy Rate||Policy Repo Rate||6.0%||6.25%|
|Reserve Policy Rate||5.75%||6.75%|
|Inflation Rate||Wholesale Price Index||3.93%||3.59%|
|Consumer Price Index||4.88%||3.58%|
|Trade Data||Export ($ Million)||26195.76||23098.18|
|Domestic Indices||Closing(22nd Dec)||Change||%Change|
|Global Indices||Closing(22ndDec)||Change||% Change|
|Top Losers||Closing Price||Prev Close||Chg (%)|
|Dr. Reddys Lab||2332.70||2371.50||-1.64|
|Top Gainers||Closing Price||Prev Close||Chg (%)|
- American tech major Accenture said artificial intelligence (AI) alone will contribute a whopping USD 957 billion to the gross domestic product by 2035 when the domestic economy is slated to touch the USD 10 trillion-mark by many estimates.According to Accenture’s baseline projection, India will a $6.4 trillion economy by 2035, and AI will add another $957 billion to it and the overall size of the economy to $7.355 trillion.
- IMF Economic Counsellor and Director of Research Maurice Obstfeld said that although demonetisation as well as implementation of the Goods and Services tax (GST) caused short-term disruptions, both measures would bring long-term benefits. The government has taken important first steps like bringing in the Insolvency and Bankruptcy Code which helped India improve its position substantially in the World Bank’s ‘Ease of Doing Business’ rankings
- Drug Controller General of India (DCGI) G N Singh said India is in the process of developing a range of bulk drugs to reduce import dependence, especially from China.India’s bulk drug imports from top five countries stood at Rs 18,372.54 crore in 2016-17 with China accounting for 66 per cent. The country’s import of API from China stood at Rs 12,254.97 crore in 2016-17, while that from the US was at Rs 820.18 crore. Although a large quantity of bulk drugs is imported from China, India has enough capacity for producing active pharmaceutical ingredients (API)
- The domestic auto industry has proposed 2047 as the deadline for finally phasing out fossil fuel-powered vehicles, threatening to throw a wrench in road transport minister NitinGadkari’s plan to have 100% electric vehicles by 2030. Sources said the industry body, Society of Indian Automobile Manufacturers (SIAM), has suggested the cut-off date in a white paper submitted to the power ministry. The industry body has committed to convert just 40% of petrol and diesel cars into electric vehicles by 2030, in a sharp divergence from the transport ministry’s outlined roadmap on roll-out of electric vehicles.
- MarutiSuzuki which sells one out of every two cars and utility vehicles in the country, has single-handedly put India on the world map as one of the fastest growing car markets. The other carmakers have not contributed to the growth of the value-conscious market. Global behemoths Volkswagen, Toyota, Nissan showed muted growth, since the beginning of FY-13, at a time when the market grew from 2.65 million to 3.04 million units. Maruti Suzuki grew its volumes from 1.05 million to 1.44 million units, registering a strong double-digit growth, whereas the rest of the market remained stagnant at 1.6 million units.
- Amara Raja Batteries Ltd (ARBL) commissioned its two-wheeler battery Plant at the Amara Raja Growth Corridor in Chittoor, Andhra Pradesh. In the first phase, the plant will have a capacity of 5 million units, which will be eventually scaled up to 17 million units. This will call for an estimated investment of Rs 700Cr taking the total capacity for two-wheeler batteries to 29 million units. The plant will employ 1300 people at full capacity.
- HDFC Bank Artificial Intelligence (AI)-based chatbot ‘Eva’ will now work with Google Assistant on millions of Android devices. ‘Eva’ built for HDFC Bank by Bengaluru-based Senseforth AI Research claims to have answered more than five million user queries with more than 85 per cent accuracy.
- German steel giant Thyssenkrupp has announced a “negotiated settlement” with its workers to clear the way for its proposed joint venture with Tata Steel Europe. As part of the agreement made with workers’ union IG Metall, Thyssenkrupp employees have won a guarantee of job security until September 30, 2026. The German steel major said in a statement that the agreement will set collectively agreed parameters for the planned combination of the European steel activities of Thyssenkrupp and Tata Steel Europe in a 50/50 joint venture
- The World Bank has raised its growth forecast for the Philippines to 6.7 percent. The Washington-based multilateral lender said the upgrade from the previous projection of 6.6 percent was made as part of its quarterly forecast exercise to reflect recent economic trends.
- The simultaneous recovery in major advanced economies and in developing economies is boosting global trade. World Bank mentioned for the Philippines, it means stronger import demand from the country’s main trading partners such as the United States, Japan and Europe
(News Source: ET Times, Live Mint, Reuter & EWAL Research)
Forthcoming Corporate Actions (25th Dec to 30th Dec)
|Security Name||Ex-Date||Purpose||Security Name||Ex-Date||Purpose|
|JINDWORLD||26-Dec-17||Stock Split From Rs.10/- to Rs.5/-||SHALPAINTS||28-Dec-17||Right Issue of Equity Shares|
|CONFINT||27-Dec-17||Consolidation of Shares|
Source: BSE, Elite wealth Research
Upcoming Board Meetings (25th Dec to 30th Dec)
|Symbol||Purpose||BM Date||Symbol||Purpose||BM Date|
Source: NSE, Elite wealth Research
Major Economy Indicators
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http://research.elitewealth.in/weekly-market-overview-report-25th-30th-dec-2017/Weekly Market Overview Report (25th-30th Dec 2017 )http://research.elitewealth.in/wp-content/uploads/2017/05/Weekly-Market-Overview-1.pnghttp://research.elitewealth.in/wp-content/uploads/2017/05/Weekly-Market-Overview-1-150x150.pngClassic researchInvestor PlusInvestor ProTrader ResearchWealth ManagementWeekly Market ViewIndian Market Outlook: The stock market witnessed good gains in week ended 22 December 2017, on the back of the BJP win in the recently concluded assembly elections in Gujarat and Himachal Pradesh. BSE Sensex and the Nifty index closed at record highs. The Sensex surged 477.33 points, or 1.42%, to...elitewealthadvisorsashar firstname.lastname@example.orgAdministratorElite Wealth Advisors Ltd.