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02 Sep 2021 Evaluate

Bulls continued to dominate bears on Dalal Street with frontline gauges hitting fresh highs breaching crucial levels one after another. Sentiments remained upbeat since beginning as investors cheered RBI’s statement that India's holding of IMF's Special Drawing Rights (SDR) has gone up to SDR 13.66 billion which is equivalent to USD 19.41 billion as per exchange rate. The International Monetary Fund (IMF) makes the general SDR allocation to its members in proportion to their existing quotas in the multilateral lending agency. Traders also took note of report that Goods and services tax (GST) collection moderated in August to Rs 1.12 trillion as against Rs 1.16 trillion in July, but exceeded the Rs 1-trillion mark for the second month as economic activity gained pace with a decline in Covid-19 cases.

Markets extended rally to end near intraday highs as market participants hailed Jayanth R Varma’s statement, who is a member of the Monetary Policy Committee (MPC) of the Reserve Bank, that the ongoing economic recovery will quickly take India above the pre-pandemic levels in most sectors of the economy except contact-intensive services. He noted that the improved health of the Indian financial sector is also a positive factor for economic growth. Traders shrugged off former RBI Deputy Governor Viral Acharya’s statement that he is worried about US tapering coinciding with RBI's rate tightening, and warned that barring high forex reserves, domestic conditions are the same as the ones during the 2013 'taper tantrums'.

On the global front, European markets were trading mostly in green amid positive earnings reports and dealing-making, while traders focused on new additions to the region’s benchmarks and awaited U.S. jobless data. Asian markets ended mixed after soft U.S. jobs surveys fueled optimism the Federal Reserve might feel less pressure to wind down stimulus. Back home, markets regulator Sebi eased the framework about the time period for introducing liquidity enhancement schemes on securities by stock exchanges. On the sectoral front, power stocks were in focus as power ministry data showed that India's power consumption grew 18.6 per cent in August to 129.51 billion units (BU) and remained higher than the pre-COVID level due to improved economic activities amid easing of lockdown curbs by states.

The BSE Sensex ended at 57852.54, up by 514.33 points or 0.90% after trading in a range of 57287.79 and 57892.37. There were 20 stocks advancing against 10 stocks declining on the index. (Provisional)

The broader indices ended in green; the BSE Mid cap index gained 0.93%, while Small cap index was up by 0.80%. (Provisional)

The gaining sectoral indices on the BSE were FMCG up by 1.56%, IT up by 1.54%, Consumer Durables up by 1.50%, TECK up by 1.36%, Basic Materials up by 1.29% while, Auto down by 0.25%, Oil & Gas down by 0.07% were the losing indices on BSE. (Provisional)

The top gainers on the Sensex were TCS up by 2.99%, Hindustan Unilever up by 2.53%, Kotak Mahindra Bank up by 2.47%, Ultratech Cement up by 2.07% and Nestle up by 1.88%. On the flip side, Mahindra & Mahindra down by 2.01%, Bajaj Auto down by 0.79%, Bajaj Finserv down by 0.41%, Bajaj Finance down by 0.36% and Sun Pharma down by 0.16% were the top losers. (Provisional)

Meanwhile, the Reserve Bank of India (RBI) said that the International Monetary Fund (IMF) has sharply increased its allocation of Special Drawing Rights (SDR) to India, in line with the country's existing quota in the fund. The RBI said IMF has made an allocation of Special Drawing Rights (SDR) equivalent to around $17.86 billion to India on August 23. This increase in SDR holdings will be reflected in the Foreign Exchange Reserves (FER) data that shall be published for the week ended August 27, 2021.

SDR holding is one of the components of the foreign exchange reserves of a country. The IMF makes the general SDR allocation to its members in proportion to their existing quotas in the Fund. The Board of Governors of the IMF had approved a general allocation of about SDR 456 billion on August 2, 2021, effective from August 23, 2021, of which the share of India is SDR 12.57 billion.

RBI’s data had showed the country's foreign exchange reserves declined by $2.47 billion to reach $616.895 billion in the week ended August 20. In the previous week ended August 13, 2021, the reserves had declined by $2.099 billion to $619.365 billion. The forex kitty had touched a lifetime high of $621.464 billion in the week ended August 6, 2021.

The CNX Nifty is currently trading at 17234.15, up by 157.90 points or 0.92% after trading in a range of 17059.70 and 17245.50. There were 36 stocks advancing against 14 stocks declining on the index. (Provisional)

The top gainers on Nifty were Shree Cement up by 6.48%, HDFC Life Insurance up by 5.63%, Cipla up by 3.51%, TCS up by 3.28% and Hindustan Unilever up by 2.49%. On the flip side, Mahindra & Mahindra down by 2.27%, Coal India down by 1.80%, Bajaj Auto down by 0.99%, ONGC down by 0.88% and Tata Motors down by 0.71% were the top losers. (Provisional)

European markets were trading mostly in green, France’s CAC increased 4.75 points or 0.07% to 6,763.44 and Germany’s DAX was up by 7.55 points or 0.05% to 15,831.84. However, UK’s FTSE 100 was down by 2.70 points or 0.04% to 7,147.14.

Asian markets ended mixed on Thursday as investors were cautious ahead of the release of the US Labor Department's closely watched monthly jobs report on Friday, which is crucial for the US Federal Reserve's tapering timeline. Chinese stocks ended higher as investors hoped Chinese soft economic data could lead to roll out further stimulus measures. China's Central Bank (PBoC) said it would provide CNY300 billion ($46.41 billion) of low-cost funding to support small-and medium-sized firms. Moreover, Japanese shares gained despite worries about unprecedented spread of the delta variant of the corona-virus.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	3,597.04	29.94	0.84
Hang Seng	26,090.43	62.14	0.24
Jakarta Composite	6,078.23	-12.70	-0.21
KLSE Composite	1,582.19	-4.70	-0.30
Nikkei 225	28,543.51	92.49	0.33
Straits Times	3,088.84	1.00	0.03
KOSPI Composite	3,175.85	-31.17	-0.97
Taiwan Weighted	17,319.76	-154.23	-0.88

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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