20-MAY-2021

Domestic Indices Market wrap up Domestic indices After clocking a one-way rally over the past two days, domestic index Close Prv close %Chg indices took a breather on Wednesday to digest news flow NIFTY 50 14,923.2 14,677.8 1.67 NIFTY SMALLCAP 50 4399.9 4354.55 1.04 around record Covid-19 fatalities in the country along with global NIFTY MIDCAP 50 6,911.7 6,785.1 1.87 inflation fears.With these dual concerns in mind, domestic NIFTY SMALLCAP 250 7620.3 7523.1 1.29 investors booked profit, majorly in large-caps, on Dalal Street. NIFTY BANK 33,459.3 32,169.6 4.01 After a gap-down start, the BSE barometer of 30-shares NIFTY NEXT 50 36242.35 35790.8 1.26 NIFTY METAL 5,207.8 5,091.4 2.29 managed to eke out slim gains in the intra-day deals but tumbled INDIA VIX 19.61 20.27 -3.25 nearly 450 points from the day's high to hit a low of 49,831. The index settled the day at 49,903 levels, down 291 points or 0.58 Global indices per cent Global Market index Close Prv close %Chg NASDAQ 13,192.0 13,119.0 0.56% Wall Street’s main indexes closed lower on Wednesday after DOW 28,323.4 28,391.4 -0.24% minutes from an April Federal Reserve meeting showed CAC 40 5,769.0 5,765.0 1.16% participants agreed the U.S. economy remained far from the DAX 13,884.0 13,786.0 0.71% central bank’s goals, with some considering discussions on NIKKEI 29,452.0 28,966.0 2.41% HANG SENG 26,016.2 25,709.2 1.18% tapering its bond buying program. The Dow Jones Industrial NYSE 2,072.2 2,077.2 -0.24% Average fell 164.62 points,, the S&P 500 lost 12.15 points, and FTSE 6,553.0 6,483.0 1.07% the Nasdaq Composite dropped 3.90 points,.Asian markets were As on 8.00 IST mixed in Thursday morning with data showing Japan’s exports NiftyMarket Watch Snapshot surging in April. In morning trade, the Nikkei 225 was largely flat while the Topix index edged about 0.1% higher.

Market preview Amid mixed cues from global peers, Indian markets looked set to open higher after a one-day hiatus, boosted by a positive trend in fresh Covid cases and a healthy earnings season. Besides, investors will weigh Federal Reserve minutes that flagged the possibility of a debate on scaling back asset purchases. High volatility cannot be ruled out on account of weekly F&O expiry. SGX Nifty indicate a positive opening for the index in India with a 22 points gain.Support levels for the Nifty are placed at 14,981.53 and 14,932.87.Resistance levels to watch out for are Nifty Spot intraday 5 Min 15,106.13 and 15,182.

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Corporate Natco Pharma signs pact with Eli Lilly for COVID drug in India In line with the licensing agreement, Natco Pharma has withdrawn its application filed with the Indian Patent Office, seeking Compulsory License against Lilly for Baricitinib for COVID-19 in India.Natco Pharma had earlier received an emergency use authorization for Baricitinib tablets, from Central Drugs Standard Control Organization (COSCO), for use in combination with remdesivir, for the treatment of suspected or laboratory confirmed COVID-19 in hospitalized adults requiring supplemental oxygen, invasive mechanical ventilation, or extracorporeal membrane oxygenation (ECMO).

IOCL spurts after turnaround Q4 numbers The company's revenue from operations increased 17.7% to Rs 1,63,605.67 crore in Q4 FY21 as against Rs 1,39,005.49 crore posted in Q4 FY20. The company reported a pre-tax profit of Rs 10,951.10 crore in Q4 FY21 as against pre-tax loss of Rs 13,610.16 in Q4 FY20.The company said its average gross refining margin (GRM) for the period April-March 2021 zoomed 6950% to $5.64 per barrel against $0.08 per barrel for the same period of the previous year. The core GRM or the current price GRM for the period April- March 2021 after offsetting inventory loss/ gain comes to $2.31 per bbl.

Domestic

Centre hikes fertilizer subsidy for FY22 by Rs 14,775 crore The union government has decided to increase the fertilizer subsidy outlay for the year by 14,775 crore, after a meeting chaired by Prime Minister Narendra Modi on the prices of fertilizers, an official statement said on May 19.This will take the fertilizer subsidy outlay for 2021-22 to Rs 94,305 crore from a budgeted outlay of Rs 79,530 crore.“It was discussed that the price of fertilisers is undergoing an increase due to the rising prices of phosphoric acid, ammonia etc internationally. PM stressed that farmers should get fertilisers at old rates despite the international rise in prices,” the statement said.

International

COMMODITY

Oil prices fell for a second day on Wednesday on renewed demand concerns as coronavirus cases in Asia rise and on fears rising inflation might lead the U.S. Federal Reserve to raise interest rates, which could limit economic growth.Brent crude futures fell $1.08, or 1.5 per cent, to $67.63 a barrel at 1100 GMT. It settled 1.1 per cent lower on Tuesday after briefly climbing above $70 earlier in the session.U.S. West Texas Intermediate (WTI) crude futures dropped $1.05 cents, or 1.6 per cent, to $64.44 a barrel, following a 1.2 per cent fall on Tuesday.Brent's rise to $70 was driven by optimism over the reopening of the U.S. and European economies, among the world's biggest oil consumers.

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Stock to watch Actions watch . : Promoter Hulst B V sold 31 lakh equity shares at Rs 3,250.58 per share on the BSE, the bulk deals data showed.IOC BONUS ISSUE . Indian Oil CorpIndian Oil Corporation: The company reported a profit Company Ratio Ex.date LIBAS 1:5 06-APR of Rs 8,781.3 crore in Q4FY21 against Rs 4,916.59 crore in Q3FY21, revenue increased to Rs 1,63,605.67 crore from Rs 1,46,598.83 crore

YoY. Major Dividends . Sintex Industries: The company intimated exchanges that there is Company Div/Share Ex.date severe damage at the factory plant at Jafarabad, Gujarat due to cyclone OFSS Rs.200.00 17-MAY COFORGE Rs.13.00 18-MAY Tauktae on May 17-18. The expected quantum of loss or damage due to VISAKIND Rs.10.00 18-MAY cyclone Tauktae and estimated impact on the production or operations is INFY Rs.15.00 31-MAY under the process of determination. . : Life Insurance Corporation of India acquired over 59.77 lakh equity shares (2.025%) of the company, increasing DERIVATIVES IN BAN PERIOD shareholding to 9.07% from 7.045% earlier.​Kaya: The company reported a loss of Rs 2.37 crore in Q4FY21 against a loss of at Rs 14.36 crore in Q4FY20, revenue increased to Rs 89.2 crore from Rs 87.07 crore YoY. . Clariant Chemicals (India): The company reported a profit of Rs 10.97 crore in Q4FY21 against Rs 0.45 crore in Q4FY20, revenue rose to Rs 218.84 crore from Rs 169.48 crore YoY. RESULTS TODAY BAJAJFINSV . Westlife Development: SBI Mutual Fund sold 3,34,951 equity shares of BOMDYEING CHENNPETRO the company on May 18 reducing the total stake to 6.38% from 6.6% GHCL earlier.Endurance Technologies: The company reported a consolidated KPIITECH KPRMILL MASTEK NELCO profit of Rs 187.4 crore in Q4FY21 against Rs 106.8 crore in Q4FY20, TATACOM revenue rose to Rs 2,132.9 crore from Rs 1,596.75 crore YoY Data Alert Thought of the day Overseas

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“No price is too low for a bear ot too high for a bull.” Domestic unknown

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