US Market Continues To Defy Grey-haired Pundits, Pulling Indian Markets along with It
There are times when the market marches ahead in one direction, baffling and fooling the majority. Subsequent events prove whether the market was right, or the majority. We are probably in such a situation now. The majority includes some of most accomplished pundits—grey-haired and battle-hardened enough to draw attention.
 
Here is how the majority is thinking now. COVID-19 has...
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  • Weekly Moneylife Indices & Sector Trends
    INDIAN MARKET TRENDS
    From 12th June to 18th June, ML Micro-cap Index, ML Mid-cap Index and ML Small-cap Index rose 4% each. ML Large-cap Index, the Sensex, the NIFTY and ML Mega-cap Index rose 1% each. 
     
     
    FUND FLOWS
    Foreigners: Foreign institutional investors were net sellers of equities during the period (Rs4,558.90 crore). They sold shares worth Rs22,243.31...
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  • Nifty, Sensex on an uptrend, buoyed by global cues – Weekly closing report
    We had mentioned in last week’s closing report that Nifty, Sensex may remain under pressure. The major indices rallied this week and closed with gains.
     
    The trend of the major indices in the week is given in the table:
     
     
    On Monday, the major indices suffered a correction. On the NSE, there were 877 advances, 948 declines and 315 unchanged.
     
    Reliance Industries had announced that two more global investors had joined in for making investment in the digital arm of the company. TPG will invest Rs 4,546.80 crore for a 0.93% stake in Jio Platforms and L Catterton will invest Rs 1,894.50 crore in Jio Platforms, in exchange for a 0.39% stake.
     
    Aarti Industries’ long-term contract with a global firm to supply agrochemicals worth Rs 4,000 crore was cancelled. In a regulatory filing, AIL informed exchanges that the company in June 2017 had entered a 10-year contract with a global agrochemical major to supply a high-value agrochemical intermediary with application in herbicides.
     
    BHEL reported a consolidated net loss of Rs 1,532.18 crore for the March quarter, mainly due to lower revenues and deferred taxes. The firm reported net profit of Rs 680.77 crore in the quarter ended March 2019. Total income in the quarter review stood at Rs 5,193.51 crore, down from Rs 10,489.11 crore in the same period last year.
     
    On Tuesday, the major indices were up after the US Federal Reserve announced a corporate bond-buying programme which set off a massive global rally. This pushed up the Indian market as well. On the NSE, there were 846 advances, 983 declines and 293 unchanged.
     
    Tata Motors reported a consolidated loss of Rs 9,894.25 crore for the quarter ended March 2020. It had a consolidated profit for the March 2019 quarter at Rs 1,117.5 crore and Rs 1,738.3 crore in Q3FY20. Consolidated revenue from operations declined 27.7% YoY stood at Rs 62,492.96 crore.
     
    Rakesh Jhunjhunwala acquired additional 6 lakh shares in the Jubilant Life Sciences via open market transaction on June 15, reported CNBC-TV18.
     
    IPCA Laboratories reported net profits of Rs86 crore for March quarter, down 12.72% YoY. Revenues rose 21.52% YoY to Rs1,087.49 crore.
     
    Bayer CropScience announced a tie-up with agri business division of ITC to extend the reach of its crop protection products through ITC's e-Choupal 4.0 platform.
     
    On Wednesday, the major indices were volatile and ended with minor losses. On the NSE, there were 988 advances, 819 declines and 315 unchanged.
     
    Maruti Suzuki partnered with Karur Vysya Bank to offer consumers simpler and flexible financing schemes to own a new car.
     
    Natco Pharma reported a 22% fall in its Q4 net profit at Rs 94.1 crore against Rs 120.8 crore in the corresponding quarter of the previous financial year.
     
    Consolidated revenue declined marginally by 0.2 percent YoY to Rs 454.8 crore against Rs 455.7 crore in Q4FY19.
     
    Adani Green plans to raise up to $12 billion in the next 4-5 years through the sales of green bonds to accomplish the aim of becoming the world’s biggest renewable energy player, suggests reports.
     
    On Thursday, the major indices rallied hugely ended with major gains. On the NSE, there were 1,358 advances, 447 declines and 313 unchanged.
     
    Reliance Industries crossed Rs 11 lakh crore mark in market-capitalisation, retaining the slot of most valuable Indian company. After market hours, the company announced Saudi Arabia’s PIF, one of the world’s largest sovereign wealth funds, will invest Rs 11,367 crore for 2.32% of Jio Platforms. 
     
    Bajaj Consumer Care reported 61% YoY decline in net profits for quarter ended March 2020 at Rs23.29 crore. Revenues declined 25% to Rs187.12 crore.
     
    Muthoot Finance reported 52.4% jump in net profit at Rs 835.78 crore in the last quarter of the fiscal ended March 2020 due to higher demand for gold loans. The company had posted a net profit of Rs 548.56 crore during the corresponding January-March quarter of fiscal ended March 2019.
     
     On Friday, the major indices continued its rally. On the NSE, there were 1,277 advances, 582 declines and 53 unchanged.
     
    ICICI Bank sold 3.96% stake in its insurance arm, ICICI Lombard General Insurance after approval granted by the board.
     
    Orient Bell shares hit upper circuit after investor Porinju Veliyath's Equity Intelligence India acquired around half a percent equity stake in the company through open market purchases. 
     
    HIL share price surged after Sunil Singhania's Abakkus Emerging Opportunities Fund - 1 bought 1.3 lakh shares (representing 1.73% of paid up equity capital of HIL) in CK Birla Group company HIL.
     
    The Ramco Cements reported 13.24% YoY dip in net profit to Rs143 crore for the quarter ended March 2020. Revenues declined 9% YoY to Rs1,403 crore.
     
    MOIL reported a YoY fall of more than 90% in net profits at Rs 13.47 crore for the quarter ended March 31, 2020. Revenues declined 42% YoY to Rs282.95 crore.
     
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