World Bank Announces $160B Relief Package to 100 Countries.

World Bank Announces $160B Relief Package to 100 Countries; Dr Reddy and Bajaj Auto to Post Q4 Results Today.

1) SGX Nifty Futures was trading at 8,915, compared with Nifty’s Monday close of 8,879. On Tuesday. 

2) FII/FPIs sold stocks worth Rs 1,328 crore and DIIs bought stocks worth Rs 1,659 crore.

3) Global stock markets: Dow 30, -1.6%; S&P 500, -1.1%; Nasdaq, -0.5%; KOSPI, +0.4%; Nikkei, +0.9%, Hang Seng, +0.05%; Shanghai Composite, -0.3%.

Market Analysis.

Yesterday, after taking cues from global markets, Nifty made a positive opening above 8,950. However, the index was unable to hold gains and shed more than 140 points off highs and closed the day holding minor gains. Volume was marginally lower compared with the previous session. In the broader market, both Nifty Midcap and Smallcap closed 0.5% and 0.2% higher, respectively.

Looking forward, we are very close to downgrading the market to an Uptrend Under Pressure. Nifty has three distribution days and is ~10% off highs. Also, key moving averages have been breached. If one more distribution day is observed or the market breaks badly, we will change the market status.

Key News

Jmc Projects India announced its Q4 results. Total income for the quarter was flat at Rs 946.9 crore compared with Rs 943.0 crore in the corresponding quarter last year. It reported a loss of Rs 34 crore against a profit of Rs 48 crore last year.

Ujjivan Financial Services announced its Q4 results yesterday. Total income for the quarter grew 34.3% y/y to Rs 809 crore. NIM dipped 1bps to 10.8%. PAT increased by 15% to Rs 73 crore.

The World Bank has announced $160B assistance to 100 countries to manage the coronavirus crisis. It further said the pandemic is expected to throw more than 60M people into extreme poverty globally.

Ajanta Pharma, Bajaj Auto, Dr Reddys Labs. (Nse), and Jubilant Foodworks will announce their Q4 results today.

Stock Watchlist 

Indiamart Intermesh, G M M Pfaudler, Tata Consumer Products, and Coromandel International 

When we add any stock, investors shouldn’t play all their cards at once. We would suggest adopting an investment approach where you begin with a small allocation and increase it as and when the market advances further.

What do you think? Please email us any questions or comments.

Disclaimer: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. It is for educational purposes only.

© copyright 2020 – All rights reserved

THANK YOU