One Report to Answer all your Questions!

Get your Portfolio Verdict now

Markets extend previous session’s gains with positive opening

16 Sep 2021 Evaluate

With a positive opening Indian equity markets have extended their previous session’s gains. Markets are trading with gains of quarter a percent in early deals on Thursday. The broader indices are also trading in green. Sentiments got boost with report that the United Nations Conference on Trade and Development (UNCTAD) has pegged India's economic growth rate to hit a four-year high of 7.2 per cent for 2021 against a contraction of 7 per cent in 2020. At this rate, India would be the fastest growing economy after China, which is projected to grow by 8.3 per cent. Calculations are based on GDP at constant dollars in 2015. Further, some support also came in as defence Minister Rajnath Singh said the trust between the government and the industry has gone up following the scrapping of the retrospective taxation regime and the Centre is open to new ideas to further boost the country’s economic growth.

On the global front, Asian markets are trading mostly lower on Thursday amid weak economic activity data emerging from China and concerns that the rapid spread of the delta variant of the coronavirus may slow the global economic recovery from the pandemic. However, the US markets ended higher on Wednesday as gains in the Oil & Gas, Basic Materials and Industrials sectors propelled shares higher. Back home, Telecom sector’s stocks were in action as the Union Cabinet approved a relief package for the telecom sector that includes a four-year moratorium on payment of statutory dues by telecom companies as well as allowing 100 per cent foreign investment through the automatic route.

The BSE Sensex is currently trading at 58885.31, up by 162.11 points or 0.28% after trading in a range of 58790.07 and 58907.78. There were 21 stocks advancing against 9 stocks declining on the index.

The broader indices were trading in green; the BSE Mid cap index was up by 0.42%, while Small cap index up by 0.36%.

The gaining sectoral indices on the BSE were FMCG up by 1.29%, Telecom up by 1.12%, Bankex up by 0.55%, Consumer Disc up by 0.51% and Realty up by 0.43%, while Oil & Gas down by 0.25%, IT down by 0.13%, Healthcare down by 0.07%, Utilities down by 0.07% and Power down by 0.01% were the losing indices on BSE.

The top gainers on the Sensex were ITC up by 3.66%, Indusind Bank up by 3.43%, Kotak Mahindra Bank up by 0.82%, Tata Steel up by 0.59% and Power Grid Corp up by 0.56%. On the flip side, Tech Mahindra down by 0.69%, NTPC down by 0.44%, HDFC down by 0.36%, TCS down by 0.32% and Bharti Airtel down by 0.23% were the top losers.

Meanwhile, the United Nations Conference on Trade and Development (UNCTAD) in its Trade and Development report has pegged India's economic growth rate to hit a four-year high of 7.2 per cent for 2021 against a contraction of 7 per cent in 2020. At this rate, India would be the fastest growing economy after China, which is projected to grow by 8.3 per cent. Calculations are based on GDP at constant dollars in 2015.

It projected India's economy to outpace all other major economies in the next year even though the growth would be slower, at 6.7 per cent, than this year's projected figure. It stated India's economy, which shrank by seven per cent in 2020, showed strong growth of 1.9 per cent in the first quarter of Calendar 2021, on the back of the momentum of the second half of 2020 and supported by government spending in goods and services.

Further, the report said while other Asian economies have, throughout 2020 and into 2021, seen the largest portfolio outflows of all regions–including substantive non-resident investor flight from domestic sovereign bond markets in some cases–the region overall has benefited most from inflows of other investments as well as from strong FDI, in particular, into India.

Besides, it flagged the issue of high retail inflation in India, but did not take into account the easing of the rate of price rise in recent times. It said in India, consumer inflation was already at six per cent before the pandemic. The Covid-19 shock caused a temporary dip in prices, but as the economy recovered and food prices accelerated, the country returned to a six per cent inflation rate in mid-2021.

The CNX Nifty is currently trading at 17564.25, up by 44.80 points or 0.26% after trading in a range of 17537.30 and 17576.90. There were 36 stocks advancing against 14 stocks declining on the index.

The top gainers on Nifty were ITC up by 4.75%, Indusind Bank up by 3.89%, Tata Consumer Produc up by 1.01%, Bajaj Auto up by 0.84% and Kotak Mahindra Bank up by 0.77%. On the flip side, BPCL down by 10.24%, Coal India down by 0.90%, Tech Mahindra down by 0.64%, Divi's Lab down by 0.56% and NTPC down by 0.56% were the top losers.

Asian markets are trading mostly red; Nikkei 225 fell 186.48 points or 0.61% to 30,325.23, Taiwan Weighted declined 47.60 points or 0.27% to 17,306.40, Hang Seng fell 340.15 points or 1.36% to 24,693.06, Shanghai Composite dropped21.09 points or 0.58% to 3,635.13 and KOSPI declined 20.79 points or 0.66% to 3,132.61, while Straits Times gained 11.01 points or 0.36% to 3,069.62 and Jakarta Composite added 3.46 points or 0.06% to 6,113.69.

SEBI Registered: Investment Adviser - INA000013323

Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
Logo:
Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
Brand Logo:
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

Want to invest successfully in stocks?

How the heck do you select a solution that ensures it?

Check how good is your current solution!

Does it get you focused on meeting your financial goals?

Investing is to means to funding your goals. Your solution must help you get clarity of your goals and how you should invest to reach them. Does your solution include Financial Planning?

Does it have a way of investing that you are confident will work for you?

Are you clear of the rationale behind recommendations?

Do you have a way of answering the most important questions: Which stocks are worth investing in, at what price and how do you build your portfolio?

Does it make it easy to find opportunities without wasting your time?

Are you spending too much time finding opportunities?
Do you have a way of knowing when opportunities from your chosen set of stocks arise in the future?
How confident are you about them?