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Weakness persists over Dalal street

18 May 2020 Evaluate

Weakness continued over the Dalal Street in late noon deals, despite positive cues from other Asian markets. In line with the larger peers, the broader indices were also facing huge losses during noon deals, while banking, Auto and Realty stocks declined the most on the BSE. Traders got cautious, amid reports that the Modi government may have touted a mega Rs 21 lakh crore stimulus package to deal with the fallout of COVID-19 outbreak on the economy but the actual budgetary outgo is just Rs 2.02 lakh crore or less than 10 per cent of the total package.

On the global front, Asian markets were trading in green, as Singapore's non-oil domestic exports increased unexpectedly in April. The data from Enterprise Singapore showed that non-oil domestic exports increased 9.7 percent year-on-year in April, confounding expectations for a decline of 5 percent. Nonetheless, the pace of growth eased from 17.6 percent logged in March.

The BSE Sensex is currently trading at 30223.71, down by 874.02 points or 2.81% after trading in a range of 30027.20 and 31248.26. There were 4 stocks advancing against 25 stocks declining, while 1 remain unchanged on the index.

The broader indices were trading in red; the BSE Mid cap index lost 3.08%, while Small cap index was down by 2.56%.

The only gaining sectoral indices on the BSE were IT up by 1.05% and TECK up by 0.62%, while Bankex down by 5.92%, Auto down by 4.56%, Realty down by 4.31%, Consumer Disc down by 3.85% and PSU down by 3.84% were the losing indices on BSE.

The top gainers on the Sensex were Infosys up by 1.91%, ITC up by 1.52%, TCS up by 1.05%, HCL Tech. up by 0.13% and Tech Mahindra up by 0.00%. On the flip side, Indusind Bank down by 7.72%, ICICI Bank down by 7.27%, Axis Bank down by 6.69%, Maruti Suzuki down by 6.68% and Bajaj Finance down by 5.74% were the top losers.

Meanwhile, Contracting for the second straight month, India’s merchandise exports shrank by 60.28% in April 2020 as compared to same period of last year, mainly due to the ongoing global slowdown, which got aggravated due to the current Covid-19 crisis. However, trade deficit, gap between imports and exports, narrowed to $6.76 billion in April 2020 from $15.33 billion a year ago.

As per the data released by the Commerce Ministry, merchandise exports fell by 60.28% to $10.36 billion in April 2020, as compared to $26.07 billion in the same month a year ago. In Rupee terms, it was down by 56.39% to Rs 78,951.41 crore in April 2020, as compared to Rs 1,81,021.34 crore in April 2019. Non-petroleum and Non Gems and Jewellery exports in April 2020 were $9.08 billion, as compared to $19.54 billion in April 2019, exhibiting a negative growth of 53.54%.

On the other hand, imports during April 2020 too decreased by 58.65% to $17.12 billion as compared to $41.40 billion in April 2019, while in rupee terms it was down by 54.59% to Rs 1,30,525.08 crore from Rs 2,87,432.93 crore in April 2019.

Further, oil imports in April 2020 were $4.66 billion, which were 59.03% lower, compared to $11.38 billion in April 2019. Non-oil imports during April 2020 were estimated at $12.46 billion which was 58.50% lower than non-oil imports of $30.02 billion in April 2019. Non-Oil and Non-Gold imports were $12.46 billion in April 2020, down 52.18% over the same period of last year.

The CNX Nifty is currently trading at 8875.70, down by 261.15 points or 2.86% after trading in a range of 8825.05 and 9158.30. There were 8 stocks advancing against 42 stocks declining on the index.

The top gainers on Nifty were Cipla up by 3.33%, Infosys up by 1.93%, Bharti Infratel up by 1.85%, ITC up by 1.40% and TCS up by 1.27%. On the flip side, Indusind Bank down by 7.93%, Zee Entertainment down by 7.92%, ICICI Bank down by 7.47%, Maruti Suzuki down by 6.97% and Axis Bank down by 6.77% were the top losers.

Asian markets were trading mostly higher; Nikkei 225 surged 111.90 points or 0.56% to 20,149.37, Straits Times jumped 21.15 points or 0.84% to 2,544.70, Hang Seng rose 94.77 points or 0.40% to 23,892.24, KOSPI soared 13.47 points or 0.70% to 1,940.75 and Shanghai Composite gained 17.37 points or 0.61% to 2,885.83. On the other hand, Taiwan Weighted dropped 13.10 points or 0.12% to 10,801.82 and Jakarta Composite was down by 3.84 points or 0.09% to 4,503.77.

SEBI Registered: Investment Adviser - INA000013323

Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
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Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
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SEBI Registration Number:	INA000013323 Validity - May 16, 2019 - Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045
Compliance officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com Telephone: +91 98609 19463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com Telephone: +91 91758 99463 Address: Same as IA
Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Disclaimer:	Registration granted by SEBI, enlistment with exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Warning: Investment in securities market are subject to market risks. Read all the related documents carefully before investing.

Disclaimer: Registration granted by SEBI, membership of BASL (in case of IAs) and certification from NISM in no way guarantee performance of the intermediary or provides any assurance of returns to investors.

Compliance Officer:

Name: Shrikant Jagtap

Email: shrikant.jagtap@moneyworks4me.com

Mobile No: +91 97638 00745

Grievance Officer:

Name: Mukta Vaze

Email: mukta.vaze@moneyworks4me.com

Mobile No:+91 98609 19463

Principal Officer:

Name: Atharva Bhide

Email: atharva.bhide@moneyworks4me.com

Mobile No:+91 91758 99463

SEBI regional/local office address -

Plot No. C 4-A , G Block, Near Bank of India, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra 400051

Address:

The Alchemists Ark Pvt. Ltd., B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045

*Color code for outperformance consistency

*Number is average 3 year rolling returns

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