Will the Market Wake Up to ‘Hysteresis’ Or Ride on Retail Frenzy?
For the fourth week in a row, the market has closed up. As I have mentioning, it has been a surprise for almost everyone how far the market has gone up in an environment where domestic economy is limping. Is the market about to get a dose of hysteresis? A term derived from Greek word meaning ‘deficiency’ or ‘lagging behind’ and coined around 1890 by Sir James Alfred Ewing to describe the...
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  • Nifty, Sensex movement will now depend on the trend in June quarter results – Weekly closing report
    We had mentioned in last week’s closing report that Nifty, Sensex were on a rising streak. The major indices were volatile and ended with major gains. The trend of the major indices in the week is given in the table:
     
     
    On Monday, the major indices continued to rally. On the NSE, there were 1,120 advances, 719 declines and 318 unchanged.
     
    HDFC Bank said on that its advances grew 21 percent year-on-year (YoY) in the April-June quarter to Rs 10,04,500 crore . Its deposits increased 25 percent to Rs 11,89,500 crore for the same period.
     
    Power Mech Projects has won projects worth Rs 1,507 crore. The Madhya Pradesh State Mining Corporation gave orders worth of Rs 477 crore.
     
    Prism Johnson board approved the divestment of 51 percent of the paid-up equity share capital in its subsidiary, Raheja QBE General Insurance Company, to QORQL Private Limited for an aggregate consideration of Rs 289.68 crore.
     
    On Tuesday, the major indices had declined but recovered and ended with minor gains. On the NSE, there were 879 advances, 958 declines and 290 unchanged.
     
    Bandhan Bank reported 6% growth in deposits on a quarter-on-quarter basis to Rs 60,602 crore as on June 30. Total advances grew 3% QoQ and 18% YoY to Rs74,325 crore in June.
     
    Suzlon Energy reported consolidated net loss of Rs 834.22 crore during the March 2020 quarter. The consolidated net loss was Rs 294.64 crore in the quarter ended on March 31, 2019.
     
    Total income from operations declined to Rs 658.89 crore from Rs 1,450.47 crore in the year-ago period.
     
    Bajaj Finance reported that new loans booked during Q1FY21 were 17 lakh as compared to 73 lakh in Q1FY20, down 76.7% year-on-year. AUM under mortarium reduced from 27% as of 30 April 2020 to approximately 15.5% as of 30 June 2020.
     
    On Wednesday, the major indices suffered losses. On the NSE, there were 784 advances, 1,054 declines and 288 unchanged.
     
    Shriram Transport Finance said it will launch its rights issue on July 16 to raise Rs 1,500 crore. The issue will close on July 30 with the price been fixed at Rs 570 per share.
     
    NCC has received five new orders totaling to Rs.1,396 crore in the month of June, 2020 and all five orders pertain to Water Division. These orders received from various State Government agencies and do not include any internal orders.
     
    Panache Digilife bagged an order of Rs 190 million from India’s leading education company. The order execution is expected by the end of Q2.
     
    On Thursday, the major indices rallied and closed with major gains. On the NSE, there were 1,010 advances, 799 declines and 321 unchanged.
     
    State Bank of India (SBI) said it will invest Rs 1,760 crore in Yes Bank in the bank’s follow-on public offer (FPO). Yes bank has filed a red herring prospectus (RHP) with the Registrar of Companies in Mumbai for an FPO up to Rs 15,000 crore by way of a fresh issue of equity shares.
     
    Escorts reported a 21.1 percent increase in tractor sales at 10,851 units in June. The company had sold 8,960 units in the same month last year.
    Life Insurance Corporation of India purchased an additional 2% stake in GAIL India.
     
    Arvind Fashions reported loss of Rs204 crore for the quarter ended March 2020, against revenue of Rs752.23 crore. In the corresponding period of the previous year, net profits were Rs19.56 crore against revenue of Rs.1,168 crore.
     
    On Friday, the major indices rallied and closed with major gains. On the NSE, there were 1,010 advances, 799 declines and 321 unchanged.
     
    Punjab National Bank declared its Rs 3,600 crore exposure to Dewan Housing Finance as a fraudulent account.  A fraud of Rs 3,688.58 crore is being reported by the bank to RBI in the accounts of the company (DHFL),” it said in an exchange filing.
     
    Reliance Industries announced the start of their fuel retailing joint venture under the brand 'Jio-bp'. BP had last year bought a 49% stake in the petrol pumps and aviation turbine fuel (ATF) stations owned by Reliance Industries for $1 billion.
     
    Yes Bank approved the price band for its follow-on public offer (FPO) at floor price of Rs 12 per equity share and cap price at Rs 13 per equity share. A discount of Re 1 per equity share has been offered to the eligible bank staff bidding in the employee reservation portion. The minimum bid lot is of 1,000 equity shares and in the multiples of 1,000 equity shares thereafter.
     
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    Weekly Moneylife Indices & Sector Trends
    INDIAN MARKET TRENDS
    From 3rd July to 9th July, ML Large-cap Index, ML Mid-cap Index, the Sensex and the NIFTY rose 2% each. ML Small-cap Index and ML Mega-cap Index rose 1% each. ML Micro-cap Index fell 1%.
     
     
     
    FUND FLOWS
    Foreigners: Foreign institutional investors were net buyers of equities during the period (Rs396.15 crore). They bought shares worth...
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