LKP Securities

Published on 12/08/2020 9:12:04 AM

Opening Bell

Benchmarks to make negative start; CPI data eyed

Indian markets ended higher on Tuesday with consistent foreign fund flows on the back of better-than-expected corporate earnings coupled with a sustained increase in coronavirus recoveries. Today, the markets are likely to make negative start tracking weakness in global peers. Investors will be looking ahead to the CPI inflation data for July which is released later in the day. there are expectations that India's retail inflation edged up slightly in July due to higher food prices, remaining firmly above the RBI's medium-term target of 4 per cent for a 10th straight month. Traders will be eyeing the upcoming GST Council meeting, which shall meet on only a single-point agenda, anytime in August, to iron out measures to meet the compensation requirements, is likely to discuss three top suggestions to raise compensation funds. There will be some cautiousness as India again recorded over 61,000 cases in 24 hours, taking its tally way past the 2.3-million mark. With 835 fatalities in a single day, the country's death toll has risen to 46,188, very close to the UK's toll. Market participants will be concerned with the government data showing that industrial production declined by 16.6 percent in June, mainly due to lower output of manufacturing, mining, and power generation. 

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LKP Securities

Published on 11/08/2020 9:02:31 AM

Markets likely to open in green; IIP data eyed

Indian markets ended higher on Monday contributed by the gains in pharma, auto and financial stocks. Today, the start of session is likely to be positive following firm trade in Asian peers. Investors are eyeing the industrial output data for June scheduled to be released later in the day. Traders will be getting encouragement with Commerce and Industry Minister Piyush Goyal’s statement that India's balance of payments this year is going to be very, very strong on the back of significant improvement in exports and a fall in imports. Some support will come in with report that India's recovery rate from Covid-19 improving. India recorded 54,859 recoveries on August 10, the highest till date. Daily new recoveries have grown to the range of 40,000 to 50,000 in a day, much higher than the previous month’s range of 20,000 to 40,000 a day. Besides, Union Minister Nitin Gadkari said the government is working on the idea of a land bank and a social microfinance institution to help people run small shops and businesses. Though, traders may be concerned with private report that on August 10, India reported over 1,000 fatalities for the second time. Daily new deaths have been consistently on the rise.

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LKP Securities

Published on 10/08/2020 5:36:56 PM

Closing Bell

Indian bourses end in positive territory amid firm global cues

Indian equity benchmarks slipped from day's high but still ended in the positive territory on Monday on the back of positive global cues, encouraging quarterly numbers by select pharma companies. Markets started this week’s trading with gains of around a percent each, as traders took encouragement with Niti Aayog CEO Amitabh Kant’s statement that India's FDI regime is the most liberal in the world, and even during the COVID-19 pandemic, the country has attracted over $22 billion worth of direct investments. Sentiments also got boost after Prime Minister Narendra Modi launched financing facility of Rs 1 lakh crore under the Agri-Infra Fund that will help create post-harvest infrastructure in villages and generate jobs. Adding the optimism among investors, Union minister Nitin Gadkari has urged the industry to identify the sectors heavily reliant on imports, particularly from China, and look for substitutes towards indigenous production to make India a super power.

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LKP Securities

Published on 10/08/2020 9:11:28 AM

Opening Bell

Markets likely to get flat-to-positive start of new week

Indian markets ended a choppy trading session flat on Friday tracking weak Asian and European markets coupled with Spiking coronavirus cases in the country. Today, the markets likely to get flat-to-positive start of new week amid mixed Asian cues. Traders will be getting encouragement as Prime Minister Narendra Modi launched a financing facility of Rs 1 lakh crore under the Agri-Infra Fund that will help create post-harvest infrastructure in villages and generate jobs. Some support will also come with Niti Aayog CEO Amitabh Kant’s statement that India's FDI regime is the most liberal in the world, and even during the COVID-19 pandemic, the country has attracted over $22 billion worth of direct investments. However, rising coronavirus cases may dampen the sentiments in markets. The count of coronavirus cases in India jumped to 2,214,137, with the country reporting 62,117 new infections. The death toll from the pandemic reached 44,466, according to the Worldometer website. Traders may be concerned with a survey from the Reserve Bank of India (RBI) showing that consumer confidence fell to a record low last month as Indians grew more pessimistic about their jobs, incomes and spending. Telecom stocks will be in focus as the Supreme Court is expected to give its final verdict in the AGR case today.

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LKP Securities

Published on 7/08/2020 5:50:27 PM

Closing Bell

Indian benchmarks erase losses; end flat with positive bias

In a highly volatile session, Indian equity benchmarks reversed all of their initial losses to end flat with a positive bias on Friday, with frontline gauges managing to stay above their crucial 38,000 (Sensex) and 11,200 (Nifty) levels. Domestic share markets opened in negative territory and traded choppy for most part of the day, as muted cues from global markets and spiking COVID-19 cases in the country kept investors on the edge. The sentiments remained in lackluster mood with a private report stated that business optimism for the July-September quarter slumped to a record low due to sharp rise in COVID-19 cases, the extension of lockdown in containment zones and staggered easing of restrictions. Some cautiousness also came as the Reserve Bank of India sounded a note of caution saying that protracted spread of the COVID-19 pandemic poses downside risk to the domestic economy which is expected to remain in the negative zone in the current fiscal (FY21).

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LKP Securities

Published on 7/08/2020 2:19:02 PM

Midday Review

Weak trade persists on Dalal Street

Indian benchmarks continued their trade lower in afternoon session, tracking weak cues from other Asian markets. Traders were seen in selling position for IT, TECK and Consumer Durables stocks, while buying was witnessed in Power, Auto and Basic Materials stocks. Sentiments remained dented with private report that business optimism for the July-September quarter slumped to a record low due to sharp rise in COVID-19 cases, the extension of lockdown in containment zones and staggered easing of restrictions. However, losses were capped with Minister of State for Personnel Jitendra Singh statement that the India will be an important pillar of the post-coronavirus global economic recovery and that the road map for winning the battle against the pandemic lies in countries restarting the economy and strengthening cooperative federalism.

On the global front, Asian markets were trading lower with the risk aversion in the market and surge in safe haven gold investments amid pandemic stricken waning global economy and on intensified Sino-US tensions. Back on the street, in scrip specific developments, Vodafone Idea jumped despite reporting consolidated net loss of Rs 25460 crore in Q1 and PNC Infratech inched up on executing agreements with NHAI.

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LKP Securities

Published on 7/08/2020 9:17:26 AM

Opening Bell

Markets likely to get flat-to-negative start on Friday

Indian markets ended sharply higher on Thursday after the Reserve Bank of India (RBI) left interest rates unchanged, as widely expected, and maintained an accommodative stance as long as it is necessary to revive growth and mitigate the impact of Covid-19 on the economy. Today, the start of session is likely to be flat-to-negative mirroring lackluster cues from Asian peers. Rising coronavirus cases may dampen sentiments. India has recorded its worst-ever spike of 62,170 case in a single day. With this, India's tally of total cases has crossed the 2-million mark to now stand at 2,025,409. The death toll has soared to 41,627. There will be some cautiousness with a private report that business optimism for the July-September quarter slumped to a record low due to sharp rise in COVID-19 cases, the extension of lockdown in containment zones and staggered easing of restrictions. However, some respite may come later in the day as Union Minister Jitendra Singh said India will be an important pillar of the post-coronavirus global economic recovery and that the road map for winning the battle against the pandemic lies in countries restarting the economy and strengthening cooperative federalism. Some support may come with a private report that the Centre is looking to expand the scope of its Production-Linked Incentive (PLI) scheme to a few more sectors.

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