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10 Jul 2020 Evaluate

Indian equity benchmarks closed the last trading day of the week in red terrain. Markets made a negative start of the day, impacted by a private report that India's GDP will contract by 3 percent in FY21 because of the coronavirus pandemic, assuming the economy is opened up fully from next month. It also said the RBI will monetise the fiscal deficit through purchase of government bonds of up to $95 billion through open market operations, and its revaluation reserves of $127 billion may also be used to recapitalise state-run banks. Market participants remained on sidelines ahead of the industrial production data, slated to be announced later in the day.

Key indices remained sluggish throughout the trading session. Domestic sentiments were negative, even after Commerce and Industry Minister Piyush Goyal held a meeting with sovereign funds and institutional investors on ways to promote investments in the country. In the meeting, the minister spoke on the need for large investments in the short term for India's long term development. However, in the last hour of the trade, markets managed to trim some losses, taking support with Principal Economic Adviser Sanjeev Sanyal’s statement that the government will undertake measures to boost demand and there is both monetary and fiscal headroom available.

On the global front, European markets were trading higher despite spiking coronavirus cases in the U.S. will derail the global recovery. Asian markets ended mostly down on Friday, after the Bank of Japan downgraded economic assessment of all nine regions for the second straight time, citing the impact of the novel coronavirus, or Covid-19. According to the latest quarterly Regional Economic Report, all nine regions reported that the economic situation is worsening. Nine regions namely Hokkaido, Tohoku, Hokuriku, Kanto-Koshinetsu, Tokai, Kinki, Chugoku, Shikoku, Kyushu- Okinawa reported that their economy had either deteriorated or had been in a severe situation.

The BSE Sensex ended at 36594.33, down by 143.36 points or 0.39% after trading in a range of 36401.11 and 36748.89. There were 8 stocks advancing against 22 stocks declining on the index. (Provisional)

The broader indices ended in red; the BSE Mid cap index was down by 0.72%, while Small cap index was down by 0.35%.(Provisional)

The top gaining sectoral indices on the BSE were Energy up by 2.29%, Telecom up by 0.75%, Realty up by 0.67%, Healthcare up by 0.67% and FMCG up by 0.56%, while Bankex down by 2.22%, Consumer Durables down by 1.81%, Capital Goods down by 1.08%, Utilities down by 1.07% and Basic Materials down by 0.93% were the top losing indices on BSE. (Provisional)

The top gainers on the Sensex were Reliance Industries up by 2.95%, Sun Pharma up by 2.36%, Hindustan Unilever up by 2.22%, Bharti Airtel up by 1.03% and TCS up by 0.78%. On the flip side, Axis Bank down by 3.14%, Indusind Bank down by 3.13%, Titan Co down by 3.01%, HDFC down by 2.87% and ICICI Bank down by 2.75% were the top losers. (Provisional)

Meanwhile, the government has launched the Rewa Ultra Mega Solar Power project to the Nation. It is Asia's largest power project. The Rewa project will make the entire region a major hub for pure and clean energy in this decade. The Rewa project comprises three solar generating units of 250 MW each located on a 500 hectare plot of land situated inside a Solar Park (total area 1500 hectare).

Madhya Pradesh would be the main centre of Solar Energy in India, as such major projects are in progress in Neemuch, Shajapur, Chattarpur and Omkareshwar. The biggest beneficiaries of this would be the poor, the middle class, the tribals, the farmers of Madhya Pradesh.

It will also supply power to the Delhi Metro, along with the entire region surrounding Rewa. Meanwhile, the Government is working towards making environment, air, water also to remain pure and this thinking is also reflected in the policy and strategy on solar energy.

The CNX Nifty ended at 10768.05, down by 45.40 points or 0.42% after trading in a range of 10713.00 and 10819.40. There were 14 stocks advancing against 36 stocks declining on the index. (Provisional)

The top gainers on Nifty were Reliance Industries up by 2.95%, Sun Pharma up by 2.48%, Hindustan Unilever up by 2.20%, Britannia up by 1.44% and Bharti Airtel up by 1.06%. On the flip side, Axis Bank down by 3.12%, Indusind Bank down by 3.11%, Titan Co down by 3.00%, GAIL India down by 2.98% and HDFC down by 2.88% were the top losers. (Provisional)

European markets were trading higher; UK’s FTSE 100 increased 22.56 points or 0.37% to 6,072.18, France’s CAC increased 7.76 points or 0.16% to 4,928.77 and Germany’s DAX was up by 46.69 points or 0.37% to 12,536.15.

Asian markets ended mostly down on Friday, hit by weakness in Wall Street as surging corona virus cases across America raised fears of another lockdown in several states and dimmed prospects for a quick economic recovery. US sets one day record with more than 60,500 new corona virus infections on Thursday. Investors also turned cautious ahead of the corporate earnings season beginning next week. Chinese shares ended lower as state media discouraged retail investors from chasing the market higher. Market sentiment dented further after reports that the United States imposed sanctions on the highest ranking Chinese official yet targeted over alleged human rights abuses against the Uighur Muslim minority, a move likely to further ratchet up tensions between Washington and Beijing. Japanese shares declined as the safe-haven yen strengthened after Tokyo reported an all-time high of 243 new corona virus cases in the city. Meanwhile, the Bank of Japan downgraded its assessments of all nine regional economies for the second straight quarter, as the novel corona virus pandemic has continued to impact a wide range of business sectors.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	3,383.32	-67.27	-1.95
Hang Seng	25,727.41	-482.75	-1.84
Jakarta Composite	5,031.26	-21.53	-0.43
KLSE Composite	1,591.84	8.59	0.54
Nikkei 225	22,290.81	-238.48	-1.06
Straits Times	-	-	-
KOSPI Composite	2,150.25	-17.65	-0.81
Taiwan Weighted	12,073.68	-119.01	-0.98

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

Data provided by Accord Fintech Pvt. Ltd.

*Color code for outperformance consistency

*Number is average 3 year rolling returns

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