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18 Jun 2020 Evaluate

Indian equity benchmarks ended near day’s high points on Thursday, with Sensex and Nifty gaining over 2% each. The start of the day was on muted note amid India-China border tensions. During morning deals, key indices traded on a flat note, as Fitch Ratings revised India's outlook to 'negative' from 'stable', stating that the coronavirus pandemic has significantly weakened the country's growth prospects for the year and exposed the challenges associated with a high public-debt burden. The rating agency has revised the outlook on India's long-term foreign-currency issuer default rating (IDR) to negative from stable and affirmed the rating at 'BBB-'.

However, in the second half of the trading session, key benchmarks gained traction to end the day with strong gains, after investments through participatory notes (P-notes) in the domestic capital market rose to Rs 60,027 crore till May-end, making it the second consecutive monthly increase. Some support also came with the report stating that the finance ministry has released Rs 15,187 crore to 28 states as grants to rural local bodies to help them restart economic activity. The basic grants can be used by the local bodies for location-specific felt needs, except for salary or other establishment expenditure.

On the global front, European markets were trading on higher note, despite spike in COVID-19 cases in China and some U.S. states triggered fears of a second wave of infections, knocking back hopes of a swift recovery from the pandemic-led economic slump. Asian markets ended in red terrain, as Hong Kong's jobless rate rose sharply during the March to May period to the highest level in over fifteen years. The data from the Census and Statistics Department showed that the jobless rate increased to 5.9 percent during the March to May period from 5.2 percent during February to April.

The BSE Sensex ended at 34208.05, up by 700.13 points or 2.09% after trading in a range of 33371.52 and 34276.01. There were 21 stocks advancing against 9 stocks declining on the index.(Provisional)

The broader indices ended in green; the BSE Mid cap index was up by 1.05%, while Small cap index up by 1.48%.(Provisional)

The top gaining sectoral indices on the BSE were Bankex up by 3.81%, Metal up by 3.00%, PSU up by 2.62%, Power up by 2.48% and Energy up by 2.34%, while Telecom down by 0.12% and Healthcare down by 0.09% were the only losing indices on BSE.(Provisional)

The top gainers on the Sensex were Bajaj Finance up by 5.46%, Kotak Mahindra Bank up by 5.02%, Axis Bank up by 4.10%, Power Grid up by 4.01% and HDFC Bank up by 3.96%. On the flip side, ONGC down by 0.71%, Hindustan Unilever down by 0.63%, TCS down by 0.52%, Bharti Airtel down by 0.48% and Maruti Suzuki down by 0.29% were the top losers.(Provisional)

Meanwhile, in the wake of COVID-19, global rating agency Fitch Ratings in its latest report has revised India's outlook to 'negative' from 'stable', stating that the coronavirus pandemic has significantly weakened the country's growth prospects for the year and exposed the challenges associated with a high public-debt burden.

The rating agency has revised the outlook on India's long-term foreign-currency issuer default rating (IDR) to negative from stable and affirmed the rating at 'BBB-'. As per the rating agency, economic activity is expected to contract by 5 per cent in the fiscal year ending March 2021 (FY21) due to the strict lockdown measures imposed since March 25, before rebounding by 9.5 per cent in FY22.

Fitch Ratings further noted that its forecasts are subject to considerable risks due to the continued acceleration in the number of new COVID-19 cases as the lockdown is eased gradually. As per the report, it remains to be seen whether India can return to sustained growth rates of 6 per cent to 7 per cent as previously estimated, depending on the lasting impact of the pandemic, particularly in the financial sector.

The CNX Nifty is currently trading at 10091.65, up by 210.50 points or 2.13% after trading in a range of 9845.05 and 10111.20. There were 42 stocks advancing against 8 stocks declining on the index.(Provisional)

The top gainers on Nifty were Bajaj Finserv up by 7.75%, Coal India up by 6.30%, Zee Entertainment up by 5.70%, Bajaj Finance up by 5.42% and Vedanta up by 4.80%. On the flip side, ONGC down by 0.71%, Hindustan Unilever down by 0.62%, TCS down by 0.47%, Bharti Airtel down by 0.45% and Bajaj Auto down by 0.41% were the top losers.(Provisional)

European markets were trading higher; UK’s FTSE 100 increased 12.27 points or 0.2% to 6,265.52, France’s CAC increased 3.05 points or 0.06% to 4,999.02 and Germany’s DAX was up by 43.10 points or 0.35% to 12,425.24.

Asian markets ended mostly lower on Thursday as spike of corona virus cases in Beijing and United States dampened investor confidence over the potential economic recovery. Meanwhile, Federal Reserve Chair Jerome Powell said in virtual testimony to the House Financial Services Committee that it would be a concern if Congress were to pull back from the support that it is providing too quickly. Japanese shares declined as the yen strengthened against the dollar, hurting the earnings outlook for exporters. Seoul shares ended modestly lower as the market sentiment was dented by the tensions with North Korea. Though, Chinese shares gained after China's central bank governor said he wants the flow of credit in the economy to increase to at least 30 trillion yuan ($4.2 trillion) this year, as part of efforts to push the economy out of the corona virus-induced slump.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	2,939.32	3.45	0.12
Hang Seng	24,464.94	-16.47	-0.07
Jakarta Composite	4,925.25	-62.53	-1.25
KLSE Composite	1,504.91	-21.41	-1.40
Nikkei 225	22,355.46	-100.30	-0.45
Straits Times	2,665.66	-3.96	-0.15
KOSPI Composite	2,133.48	-7.57	-0.35
Taiwan Weighted	11,548.33	13.74	0.12

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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