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10 Jun 2021 Evaluate

Indian equity benchmarks ended Thursday’s trade in green terrain with frontline gauges settling above their crucial 52,300 (Sensex) and 15,700 (Nifty) levels. Markets started the session on optimistic note as traders took encouragement with Finance Ministry’s report stating that faster vaccine coverage and frontloading of fiscal measures announced in this year's budget would be the major factors in boosting the investment and consumption cycles and, in turn, reviving the economy, as economic activities have slowed down amid the second wave of Covid-19 and lockdowns across states. Meanwhile, the Finance Ministry said it has released third monthly instalment of revenue deficit grant of Rs 9,871 crore to 17 states. With the release of this instalment, total Rs 29,613 crore has been released in the first three months of the current financial year as Post Devolution Revenue Deficit (PDRD) Grant to states.

Markets extended gains to end near intraday high levels as traders took some support with the Department of Economic Affairs (DEA) in its monthly report stating that the economic impact of the second wave COVID-19 is likely to be restricted to the first quarter of 2022. As per the DEA, rapid vaccination of India's population and the frontloading of the fiscal measures are the key to invigorating investment and consumption. Meanwhile, all-powerful GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet on June 12 to decide on GST rate cut for COVID essentials and black fungus medicine.

On the global front, European counters were trading flat as traders await the European Central Bank (ECB) releasing its latest monetary policy decision, and giving its view on the eurozone recovery. Asian markets ended mostly in green ahead of US inflation data and a European Central Bank meeting, while traders also tracked China-US relations after Joe Biden dropped a Trump-era bid to ban TikTok and WeChat. Back home, insurance industry stocks remained in focus as non-life insurers reported an 11.35 per cent rise in gross direct premium income in May, over the same period last year, which was marred by a nationwide lockdown to curb the spread of the coronavirus. Sugar stocks remained in sweet spot as Crisil Rating report said the profitability of integrated sugar mills is likely to go up by 75-100 basis points (bps) this financial year due to high exports for the second consecutive season and increased supplies of ethanol for blending with petrol. Stocks related to auto sector remained buzzing as automobile retail sales crashed 55 percent in May compared to April as the COVID-19 lockdowns imposed across several states crippled vehicle offtake. Total vehicle retails (including tractors) during May fell to 535,855 units from 1.18 million units sold in April, as per data shared by the Federation of Automobile Dealer Association (FADA).

The BSE Sensex ended at 52300.47, up by 358.83 points or 0.69% after trading in a range of 51957.92 and 52346.35. There were 22 stocks advancing against 8 stocks declining on the index. (Provisional)

The broader indices ended in green; the BSE Mid cap index surged 1.26%, while Small cap was index up by 1.73%. (Provisional)

The top gaining sectoral indices on the BSE were Realty up by 3.27%, Healthcare up by 1.42%, Telecom up by 1.17%, PSU up by 1.05% and Metal was up by 1.01%, while Auto down by 0.11% was the lone losing index on BSE. (Provisional)

The top gainers on the Sensex were Bajaj Finance up by 7.29%, Bajaj Finserv up by 3.75%, SBI up by 2.56%, Indusind Bank up by 2.02% and Dr. Reddys Lab up by 1.32%. On the flip side, ITC down by 1.41%, Bajaj Auto down by 0.91%, Maruti Suzuki down by 0.56%, HCL Tech down by 0.34% and Ultratech Cement down by 0.28% were the top losers. (Provisional)

Meanwhile, the finance ministry in its monthly economic report said that quickening the pace and coverage of vaccination of people against COVID is critical for regaining growth momentum as economic activities are inextricably linked to the path of the pandemic. It said ‘As we cautiously recuperate from the second wave, rapidly improving vaccination delivery and frontloading the fiscal measures planned in the Union Budget hold key to invigorating the investment cycle in the coming quarters’.

Regarding the impact of the second COVID wave, the report said that with state-level lockdown restrictions being more adaptive to learnings from the first wave, manufacturing and construction are expected to experience a softer economic shock in the current quarter. The report emphasised that quickening the pace and coverage of vaccination is critical to help India heal and regain the momentum of economic recovery. It said continued vigilance in terms of pandemic preparedness, upscaling health spending and health infrastructure, faster rollout of vaccines and vaccination, investing in research and development to guard against possible mutants of the virus, prudent and pre-emptive restrictions, and strict observance of COVID-appropriate behaviour are essential to maintain the delicate balance of lives and livelihoods.

The report also noted that the country witnessed a V-shaped economic recovery in the second half of 2020-21. According to the report, India is one of the select few economies that have witnessed positive YoY (Year-on-Year) growth in the last two consecutive quarters. India’s real GDP is estimated to have grown at 0.5 per cent in Q3 and 1.6 per cent in Q4 of FY 2020-21 leading to an upward revision in annual real GDP growth from (-)8 per cent (2nd Advance Estimates) to (-)7.3 per cent in FY 2020-21. With a strong policy focus on infrastructure spending and construction in the latter half of FY 2020-21, the ratio of Gross Fixed Capital Formation (GFCF) to GDP reached 34.3 per cent, among the highest in over twenty-six quarters.

The CNX Nifty ended at 15737.75, up by 102.40 points or 0.65% after trading in a range of 15648.50 and 15751.25. There were 35 stocks advancing against 15 stocks declining on the index. (Provisional)

The top gainers on Nifty were Bajaj Finance up by 7.26%, Bajaj Finserv up by 3.76%, SBI up by 2.56%, Divis Lab up by 2.46% and Indusind Bank up by 2.07%. On the flip side, ITC down by 1.51%, Bajaj Auto down by 1.06%, Eicher Motors down by 0.88%, UPL down by 0.81% and Adani Ports &Special down by 0.69% were the top losers. (Provisional)

European markets were trading flat, Germany’s DAX rose 19.55 points or 0.13% to 15,600.69 and UK’s FTSE 100 was up by 27.56 points or 0.39% to 7,108.57. On the flip side, France’s CAC decreased 6.66 points or 0.10% to 6,556.79.

Asian markets ended mostly higher on Thursday, amid global investors awaited US inflation data for any sign the Federal Reserve could start tapering its massive stimulus. Chinese shares ended higher as inflation fears eased after China's central bank Governor Yi Gang said inflation is basically under control, and monetary policy would be kept steady. Meanwhile, reports that United States and China spoke by telephone and agreed to promote healthy trade and cooperate over differences, too supporting market sentiments. Moreover, Japanese shares gained after the Japanese government is poised to launch a large-scale economic stimulus package this summer ahead of a planned snap general election.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	3,610.86	19.46	0.54
Hang Seng	28,738.88	-3.75	-0.01
Jakarta Composite	6,107.54	60.06	0.99
KLSE Composite	1,579.90	-1.58	-0.10
Nikkei 225	28,958.56	97.76	0.34
Straits Times	3,162.50	9.03	0.29
KOSPI Composite	3,224.64	8.46	0.26
Taiwan Weighted	17,159.22	193.00	1.14

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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