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Market Preview Domestic Indices Market Snapshot Global Indices 04-MAR-2020 Domestic Indices Market wrap up Domestic indices Benchmark indices recovered some of their losses from the index Close Prv close %Chg NIFTY 50 11,303.3 11,132.8 1.53 previous seven sessions and ended higher. Investors bought NIFTY SMLCAP 50 2,709.3 2,661.5 1.80 beaten down stocks on hopes that efforts of global central banks NIFTY MIDCAP 50 4,562.2 4,469.3 2.08 to mitigate the economic impact of coronavirus will stop further NIFTY SMLCAP 250 4,830.2 4,774.9 1.16 decline in equities. Investors remained concerned over the NIFTY BANK 29,177.1 28,868.4 1.07 NIFTY FIN SERVICE 13,637.0 13,520.0 0.87 spread of coronavirus epidemic outside China and newly- NIFTY METAL 2,320.8 2,197.6 5.60 discovered cases in India Nifty 50 closed at 11303.30, up 170.55 INDIA VIX 24.5 25.2 -2.61 points or 1.5% from its previous close, while Nifty Bank index Global indices ended 1.1% higher. The BSE Sensex closed at 38623.70, up 479.68 points or 1.3%. Indices Close Prv close %Chg NASDAQ 7,344.0 7,190.0 -1.80 Global Market FTSE 7,069.0 7,086.0 0.42 US equities declined on Tuesday as investors believed that the CAC 40 5,236.0 5,243.0 0.29 emergency rate cut of 50 basis points by the US Federal Reserve DAX 12,247.0 12,248.0 0.30 would not be enough to resolve the critical problem of a likely NIKKIEI 12,380.0 12,319.0 -0.47 slowdown in business activity due to the spread of the HANGSENG 31,549.0 31,563.0 0.11 coronavirus. After opening positive in reaction to the US Federal KOSPI 2,485.0 2,504.0 0.42 Reserve's surprise interest rate cut move, equities in Asia were SHANGHAI 3,290.0 3,305.0 0.34 mostly weak because investors continued to gauge the impact of As on 8.00 IST the spreading coronavirus on economic activity. The yield on the NiftyMarket Watch Snapshot benchmark US Treasury note fell to a record low on Tuesday after rate cut Market preview A 50-basis-point cut in interest rates by the US Federal Reserve may help the benchmark indices open higher today but the sustenance of the gains remain in doubt as there is scepticism over the impact such a move will have in fire fighting the economic toll of coronavirus outbreak. Investors will also monitor the new additions to the confirmed coronavirus cases, which have reached 89,000 globally. Shares of information technology companies may gain as investors park funds in the sector's stocks because of its status as a defensive and on expected Nifty Spot intraday 5 Min benefits from the recent depreciation in the rupee against the US dollar. -1 News corner Corporate Infosys seen up as company bags order from Germany's K+S AG Shares of Infosys are seen up today as the company has bagged an order from Germany-based salt manufacturer K+S AG to set up two centralised data centres at Kassel in Germany and some regional data centres in other countries. The order includes 16 regional data centres in Europe, the US, Canada, and South America, along with a public cloud ecosystem. The company will deliver infrastructure services in a hybrid cloud and manage these centres end-to-end.Infosys will also be responsible for managing the information technology landscape of K+S AG. Vodafone Idea up on news that company pays government dues of 30 bln rupee Shares of Vodafone Idea rose more after a report said that the company has paid around 30.43 bln rupees to the Department of Telecommunications for airwaves bought in the auctions of 2014. The company is yet to pay adjusted gross revenue dues of over 530 bln rupees to the telecom department. Earlier, the company had paid 35 bln rupees and Vodafone Idea is expecting some relief, without which it may have to shut operations.A payment default would have made the company vulnerable. This payment is important in order to avoid bank guarantees being invoked by the telecom department, Domestic Telecom companies to gain on report cos pay 80-bln-rupee dues Shares of telecom companies are likely to gain today on report Vodafone Idea, Bharti Airtel and Reliance Jio Infocomm have paid the government 80 bln rupees, cumulatively, for airwaves bought in the 2014 auctions. Vodafone Idea has paid around 30.43 bln rupees to the Department of Telecommunications, while Reliance Industries' arm Reliance Jio Infocomm has paid 10.53 bln rupees and Bharti Airtel paid over 19 bln rupees, The Economic Times reported. Shares of Tata Teleservices Maharashtra may also rise as the company made an additional payment of 20 bln rupees to the telecom department as part of adjusted gross revenue dues.The department is in the process of reconciling its own estimates with the self-assessed ones of the telecom companies and may send notices to these operators seeking explanation for the difference International COMMODITY CRUDE OIL: Crude oil prices ended slightly higher on Tuesday as Fed's emergency interest rate cut prompted market participants to contemplate the economic implications of the COVID-19 epidemic globally. Investors will be closely eyeing the meeting of Organization of the Petroleum Exporting Countries and its allies in Vienna, which will take place on Thursday and Friday. NYMEX Apr futures (a barrel): $47.18 Tuesday vs $46.75 Monday.ICE Brent May futures (per barrel): $51.86 Tuesday vs $51.90 Monday PRECIOUS METALS: Gold futures rose over 3% for the second consecutive session on Tuesday as Fed lowered interest rates citing economic risks from the spread of COVID-19. -2- Stock to watch Actions watch . BANK OF MAHARASHTRA: Plans to raise up to 6 bln rupees through tier-II bonds maturing in 10-year, and has invited bids on Thursday BONUS . BHARTI AIRTEL: The company, Reliance Jio Infocomm, and VODAFONE IDEA Company Ratio Ex.date on Tuesday deposited 19.50 bln rupees, 10.53 bln rupees, and 30.43 bln rupees, RADIOCITY 1:4 12-MAR respectively, as deferred spectrum payment with the Department of Telecommunications . BLISS GVS PHARMA: Has not received any show cause notice from the Major Dividends Securities and Exchange Board of India on insider trading Company Div/Share Ex.date APOLLOTYRE Rs.3.00 04-MAR . CERA SANITARYWARE: Cera Sanitaryware Nalanda India Equity Fund bought EXIDEIND Rs.2.50 04-MAR 313,200 shares or 2.4% stake in the company via bulk deals on the National Stock LALPATHLAB Rs 6.00 05-MAR Exchange and BSE NLCIND Rs. 7.00 05-MAR . ENDURANCE TECHNOLOGIES: To pay 5.50 rupees per share interim dividend. HFCL: Has received optical fibre cable order worth 1.96 bln rupees from LARSEN & TOUBRO DERIVATIVES IN BAN PERIOD . HINDUSTAN AERONAUTICS: The company has received an arbitration notice from RUAG Aerospace Services GMBH against alleged damages due to breach of YES BANK agreement regarding supply of structural parts for production of Dornier-228, by the company . INDOSTAR CAPITAL FINANCE: Competition Commission of India on Tuesday approved the acquisition of up to 40% stake in the company by BCP V Multiple Holdings on a fully diluted basis RESULTS TODAY . INFOSYS: Received an order from salt manufacturer K+S AG to set up two INDAG INDSOLAR centralised data centres at Kassel in Germany and 16 regional data centres in JSGLEASING LUMAXTECH Europe, the US, Canada and South America, along with a public cloud ecosystem. MASFIN NITLTD . INTENSE TECHNOLOGIES: Has bagged a large deal for digitalising mission critical citizen services in India in partnership with a large system integrator. Data Alert Thought of the day Overseas . US MORTGAGE APPLICATIONS SURVEY for week ended Fri. 1730 IST . US SERVICES PMI for Feb. 2015 IST “Wide diversification is only required when investors do not understand what they are doing.” Domestic Warren Buffett . IHS MARKIT SERVICES AND COMPOSITE PMI for Feb. 1030 IST. -3- Previous Tracker Disclaimer -5- .
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