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Sensex, Nifty remain under pressure

14 Jul 2020 Evaluate

Indian equity benchmarks remained under pressure in late morning deals, as heavy selling continues over the Dalal street. Negative cues from other Asian markets kept domestic sentiments down. Market participants got cautious, amid a private report stating that net inflows in equities plunged 94 per cent month-on-month in June. It said increase in redemptions by 74.9 per cent month-on-month to Rs 14,200 crore led to a decline in net inflows in equities from Rs 5,600 crore in the previous month to Rs 300 crore in June, the lowest in four years.

On the global front, Asian markets were trading mostly in red, after Malaysia's unemployment rate rose for the fourth straight month in May. The data from the Department of Statistics showed that the jobless rate rose to 5.3 percent in May from 5.0 percent in April. The rate has risen steadily from 3.2 percent in January. The number of unemployed increased by 47,300 persons to 826,100 in May from 778,800 in the previous month. Compared to the same period last year, the number of jobless rose by 306,300.

The BSE Sensex is currently trading at 36191.95, down by 501.74 points or 1.37% after trading in a range of 36060.51 and 36538.10. There were 2 stocks advancing against 28 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index lost 1.00%, while Small cap index was down by 1.03%.

The only gaining sectoral indices on the BSE were Telecom up by 0.82% and TECK up by 0.01%, while Bankex down by 2.58%, Metal down by 2.37%, Auto down by 2.07%, Power down by 1.93% and PSU down by 1.78% were the top losing indices on BSE.

The only gainers on the Sensex were Bharti Airtel up by 1.15% and Titan Company up by 0.62%. On the flip side, Indusind Bank down by 4.58%, Axis Bank down by 4.04%, Bajaj Finserv down by 3.32%, SBI down by 3.06% and Bajaj Finance was down by 2.79% were the top losers.

Meanwhile, the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation in its latest data has showed that India’s retail inflation, based on Consumer Price Index (CPI), increased to 6.09% in June 2020, mainly on account of higher prices of food items. The CPI was 3.18% in June 2019. Besides, food inflation in June increased to 7.87%. The ministry said the inflation figures are based on data collected from limited markets in view of the restrictions imposed on account of coronavirus pandemic. However, it said the data collected did not meet the adequacy criteria for generating robust estimates of CPIs at the state-level.

According to the data, the annual inflation in cereals and related products was 6.49%, and 16.22% in 'meat and fish' segment. For 'pulses and products', it was 16.68%, while that of spices stood at 11.74%. The inflation in vegetables basket was 1.86%, while it was in negative zone for fruits. In the 'fuel and light' segment, it was 2.69%. The inflation was ruling at 6.20% in rural India and 5.91% in urban areas. In view of the preventive measures and announcement of the nationwide lockdown by the government to contain spread of Covid-19 pandemic, the price collection of CPI through personal visits of price collectors was suspended.

During the lockdown, prices were collected through telephonic call from the designated outlets in selected markets, which was supplemented by information collected during the personal purchase of field staff for the items being transacted from neighborhood outlets, keeping in view the travel advisories. As the various pandemic related restrictions were gradually lifted and non-essential activities started resuming operations, NSO collected prices from 1,030 urban markets and 998 villages, for commodities that were available and transacted in June, 2020. The price data are usually collected from selected 1,114 urban markets and 1,181 villages through personal visits by field staff of Field Operations Division of NSO in the ministry on a weekly roster.

The CNX Nifty is currently trading at 10648.10, down by 154.60 points or 1.43% after trading in a range of 10616.65 and 10755.65. There were 4 stocks advancing against 46 stocks declining on the index.

The top gainers on Nifty were Bharti Airtel up by 1.38%, Titan Company up by 0.66%, Dr. Reddy’s Lab up by 0.40% and Cipla up by 0.21%. On the flip side, Indusind Bank down by 4.55%, Axis Bank down by 3.91%, Hindalco down by 3.69%, Bajaj Finserv down by 3.41% and Zee Entertainment down by 3.17% were the top losers.

Asian markets were trading mostly in red; Hang Seng decreased 436.16 points or 1.69% to 25,335.96, Nikkei 225 slipped 216.25 points or 0.95% to 22,568.49, Taiwan Weighted dropped 50.03 points or 0.41% to 12,161.53, Shanghai Composite declined 37.99 points or 1.1% to 3,405.30, Straits Times trembled 15.83 points or 0.6% to 2,615.25 and KOSPI fell 13.95 points or 0.64% to 2,172.11. On the flip side, Jakarta Composite was up by 6.63 points or 0.13% to 5,071.08.

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

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*Color code for outperformance consistency

*Number is average 3 year rolling returns

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