Business Standard Podcast

The biggest factor swaying the investor sentiment today will be the Union Budget which Finance Minister Nirmala Sitharaman will present in the Parliament on Friday. The Economic Survey will be tabled tomorrow. Investors will also keenly watch the Nikkei Services PMI and Market India PMI Composite for June to be released later in the day. In global development, the US on Tuesday threatened the European Union with tariffs on $4 billion of additional EU goods, days after reaching a trade truce with China. Back home, monthly auto sales data, progress in monsoon, foreign fund flow, crude oil prices and rupee movement against the US dollar could also steer indices. The Sensex ended Tuesday's session 130 points higher at 39,816 levels, while the broader Nifty50 added 45 points at 11,910 levels. -- Now, let's see how the global markets have fared SGX Nifty is indicating a positive start for the benchmark indices back home. Asian shares were subdued in morning trade. MSCI's broadest index of Asia-Pacific shares outside Japan was almost flat, while Japan's Nikkei was down 0.4 per cent in early trade. As for the US markets, the stocks managed modest gains on Tuesday after holding near the unchanged mark for much of the session. The Dow rose 0.26 per cent, to 26,787, the S&P500 gained 0.29 per cent to 2,973 and the Nasdaq Composite added 0.22 per cent, to 8,109. In the commodities market, oil prices edged higher on Wednesday. Brent crude futures were trading up 0.8 per cent, at $62.88 a barrel, and US crude futures were up 0.7 per cent at $56.62 a barrel.

Domestic indices ended Tuesday's volatile trade with gains. The indices traded in the red for better part of the day, tracking concerns on weak global growth across world markets coupled with rising trade tensions.  The losses were, however, pared against last hour buying in select stocks such as HDFC twins, Infosys, Reliance and ONGC. The S&P BSE Sensex ended 130 points, or 0.30 per cent, higher at 39,816 levels with ONGC, HDFC and Bharti Airtel being the top gainers. The broader Nifty50 too settled with gains of 45 points, or 0.38 per cent, at 11,910 levels. In the broader market, S&P BSE Mid-Cap ended 56 points, or 0.38 per cent higher at 14,945 levels while the S&P BSE Small-Cap gained 0.52 points to settle at 14,283 levels. Sectorally, realty scrips were under pressure with the index with ending 1.5 per cent lower. This was followed by losses in pharma and bank counters. Nifty IT index settled nearly a per cent higher followed by metal index, up 0.52 per cent.  BUZZING STOCKS Shares of ICRA slipped nearly 6 per cent to Rs 3,027 apiece in the opening deals on Tuesday, a day after the board of rating agency asked its Managing Director (MD) and Chief Executive Officer (CEO) Naresh Takkar to go on indefinite leave, pending an enquiry into concerns raised by the market regulator the Securities and Exchange Board of India (Sebi).  Cox & Kings shares were locked in the 5 per cent lower circuit in the early trade on the BSE on Tuesday to quote at an all-time low price of Rs 32.95 apiece after it defaulted on Rs 50 crore commercial paper. The stock has now fallen for six consecutive trading sessions. 

Domestic indices ended at a three-week closing high on Monday tracking positive global sentiment stemmed from trade truce between the US and China. Heavy buying was witnessed across finanicals, banking, automobiles and realty stocks. The S&P BSE Sensex ended 292 points, or 0.74 per cent, higher at 39,686 levels with Tata Motors, Bajaj Auto and HDFC being the top gainers. The broader Nifty50 too ended the session with gains of 77 points, or 0.65 per cent, at 11,866 levels. In the broader market, S&P BSE Mid-Cap ended 81 points, or 0.54 per cent higher at 14,889 levels while the S&P BSE Small-Cap gained 43 points, or 0.30 per cent, to settle at 14,283 levels.  Sectorally, realty led the rally with a gain of over 2 per cent. This was followed by gain in automobiles, pharma and bank counters, which rose about a per cent each.   BUZZING STOCK Eveready Industries shares were locked in the 5 per cent lower circuit at Rs 76 on the BSE on Monday after Price Waterhouse & Co Chartered Accountants LLP (PwC) quit as company's auditors on Friday due to their "inability" to obtain sufficient audit evidence of inter-company deposits and its recovery.  Shares of Reliance Infrastructure (RInfa) slipped 10 per cent to Rs 50 in early morning trade on the BSE on Monday after rating agency Brickwork downgraded the company’s bank loan facilities of Rs 1,151 crore to 'BWR D' from 'BWR C'. 

Did your spending take a hit between January and June? The first half of 2019 is over and today, the latter half begins. Auto major Mahindra & Mahindra (M&M) said it will hike price of its range of personal vehicles by up to Rs 36,000 across models with effect from July 1. The State Bank of India (SBI) said it would offer repo rate-linked home loans from July 1, 2019. Listen to this podcast  to know about the list of products and services that might either pinch your pockets or ease your expenses in the coming months

The ICC Cricket World Cup is inching closer to the semi-final stage and the picture is increasingly becoming clear. Australia, New Zealand and India are almost through to the next stage, even as the mystery around the fourth semi-finalist continues. England's consecutive losses against Sri Lanka and Australia has revived the hopes of Sri Lanka, Bangladesh and Pakistan, and the upcoming matches will hold the key. For the teams that are fighting for a slot right now, there would be no room for a lapse any more. West Indies, Afghanistan and South Africa are already out of the contest but these sides could ruin the other teams’ chances. Meanwhile, the Pakistan cricket team has seen a sudden resurgence and become the talk of the town, especially since the Sarfaraz Ahmed-led team defeated a strong New Zealand side. India, the only unbeaten team now, suffered a scare against Afghanistan and chinks were seen in their armour, when their mighty batting line-up, especially the middle order, failed to impress in their match against Windies. Questions are being raised over the inclusion of Vijay Shankar, who has not been able to impress much with his so-called three-dimensional abilities. Many are also suggesting that Rishabh Pant, who has been warming the benches since his inclusion to the squad after Shikhar Dhawan's injurury, should instead be picked. It remains to be seen whether the side would be able to continue their winning streak as they face England in their next fixture on Sunday (June 30). For now, it's certain that India's bowling unit has been exceptional, but is that enough? Let’s take a look at all this, and what more to expect as the contest intensifies in this BS podcast. Follow the BS on Ground channel on Google Podcast, Apple Podcasts and Spotify for more from the world of sports.

Benchmark indices erased their early gains to close Friday's session lower, dragged down by metal stocks. The benchmark S&P BSE Sensex closed 192 points, or 0.48 per cent, lower, with YES Bank, IndusInd Bank, Tata Motors, Reliance Industries, and ONGC the top losers. The broader Nifty50 index slipped 53 points, or 0.45 per cent, to 11,789. The market breadth remained in favour of sellers. About 919 stocks declined and 822 advanced on the NSE. On a weekly basis, however, the indices gained with the Sensex closing 0.5 per cent higher and the Nifty climbing 0.6 per cent. Among Nifty sectoral indices, only three closed the day in the green. Nifty Metal, down 1.1 per cent, took the deepest cuts while the Nifty Private Bank index dipped 0.6 per cent. In the broader market, the S&P BSE MidCap index settled 45 points, or 0.3 per cent, lower at 14,808, while the S&P BSE SmallCap index lost 10 points, or 0.07 per cent, to 14,239.. BUZZING STOCKS Shares of Cox & Kings were locked in the 10 per cent lower circuit for the third straight day on Friday to quote at Rs 36 apiece on the BSE after the company defaulted on commercial paper worth Rs 150 crore.  Shares of Sadbhav Infrastructure Projects (SIPL) tanked 18 per cent to hit a record low of Rs 59 on the BSE on Friday after Care Ratings downgraded the credit rating of the firm's wholly-owned subsidiary, Rohtak-Hissar Tollway Private Limited (RHTPL), from 'BB+' to 'D'. The stock, however, recovered to Rs 72.60, up 0.8 per cent, by the end of the session.  Dewan Housing Finance Corporation Limited (DHFL) shares dipped 11.75 per cent to Rs 72.10 on the BSE on Friday, after the company deferred the release of its March 2019 quarter (Q4) results which were schedueled to be announced on Saturday (June 29) to July 13. 

India's "very high" tariffs on US goods are "unacceptable" and must be withdrawn, President Donald Trump demanded Thursday ahead of his crucial meeting with Prime Minister Narendra Modi on the sidelines of the G-20 Summit in Japan which is likely to be dominated by trade frictions. President Trump, championing his 'America First' policy has been a vocal critic of India for levying "tremendously high" duties on US products, has described the country as a "tariff king". "I look forward to speaking with Prime Minister (Narendra) Modi about the fact that India, for years having put very high Tariffs against the United States, just recently increased the Tariffs even further. This is unacceptable and the Tariffs must be withdrawn!" Trump said in a tweet early this morning. Listen to this podcast for more.

Investors will, on Friday, keep a keen eye on the two-day G-20 Summit, that begins today, where the US President Donald Trump and Chinese President Xi Jinping are expected to meet amid the ongoing trade tensions. Asian shares were holding gains during the early morning trade on Friday. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.02 per cent while Japan’s Nikkei was down 0.28 per cent. On Wall Street, indices ended mixed. The Dow Jones Industrial Average slipped 0.04%. The S&P500 gained 0.38% while the Nasdaq Composite index rallied 0.73%. Trends on SGX Nifty, the Singaporean exchange for Nifty Futures, however, suggest a positive start for the Indian markets. On Thursday, benchmark indices ended marginally lower on June F&O contract expiry. The S&P BSE Sensex dipped 6 points to close at 39,586. The broader Nifty50, too, shed 6 points to end at 11,841. After yesterday’s session, daily charts formed a bearish candle resembling a Shooting Star pattern. The short term trend of Nifty, however, remains positive with range-bound movement Here are the top news that could move the markets today  – >> Markets regulator Sebi has tightened norms for Mutual Fund to secure investors >> India’s monsoon rain remains 24% below average this week >> Consumer loans may be the next big concern for NBFCs, says RBI report

Benchmark indices ended with marginal cuts on the last day of the June Futures & Options (F&O) series in Thursday's volatile session. The benchmark S&P BSE Sensex was little changed from its previous day's close, up 6 points to 39,586, with Tech Mahindra, HCL Tech, Reliance Industries, ITC, and Infosys the biggest BSE losers. The broader Nifty50 index also dipped 6 points to 11,842. The market breadth, however, was tilted in favour of buyers. About 1,014 stocks advanced and 743 declined on the NSE. In a volatile session, Sensex rose to 39,817 while Nifty reclaimed the 11,900 level but failed to hold the same. The Nifty sectoral indices traded mixed on Thursday. Nifty Realty and Nifty Auto gained the most 1.9 and 1.1 per cent, respectively, while Nifty IT took the deepest cut, down 0.68 per cent. The broader market fared better. The S&P BSE MidCap index settled 54 points, or 0.36 per cent, higher at 14,853, while the S&P BSE SmallCap climbed 75 points, or 0.5 per cent, to 14,249. BUZZING STOCKS Shares of CreditAccess Grameen (CAGL) has surged 8 per cent to Rs 562 on the BSE on Thursday in early morning trade after the company completed a direct assignment of Rs 139 crore on June 26. By the day's end, the stock settled 0.18 per cent higher at Rs 521.10. Shares of Cox & Kings were locked in lower circuit for the second straight day, down 10 per cent at Rs 40 after Brickwork Ratings downgraded credit rating of the company's non convertible debenture issue which highlighted delays in debt reduction and increase in receivables.  State Bank of India (SBI) shares rose 1.1 per cent higher at Rs 362.05 on the BSE, after the state-owned lender said its board will consider raising capital additional tier-1 capital. 

Early trade in Asia and trends on SGX Nifty, the Singaporean exchange for Nifty Futures, suggest a flat start for the Indian indices. Asian peers were trading flat on Thursday as confusion shrouded after US President Donald Trump said on Wednesday that a trade deal with China was possible this weekend but warned he was prepared to impose higher tariffs on virtually all remaining Chinese imports if talks fail. On Wall Street, the Dow Jones Industrial Average slipped 0.04% during the overnight trade on Wednesday. The S&P500 dipped 0.12% while the Nasdaq gained 0.32%. Back home, Markets ended at a two-week closing high on Wednesday. The benchmark S&P BSE Sensex settled 157 points higher at 39,592 while the broader Nifty50 index closed 51 points higher at 11,848. After yesterday’s session, Index formed a big body bullish candlestick pattern indicating current momentum to continue unless Nifty trades below 11,750 levels. Top news that could move the markets today  – >> India adds 5 million new investors in 1 year >> Coca-Cola looks at picking stake in Café Coffee Day >> Nifty is nearing record high but only 15 stocks are bringing in value >> Jet Airways, Reliance Power are among the 34 stocks that will exit F&O segment from June 28

Benchmark indices ended higher for the second consecutive session on Wednesday, lifted by gains in metal stocks. The benchmark S&P BSE Sensex settled 157 points, or 0.4 per cent, higher at 39,592, with Vedanta, Powergrid, Sun Pharma, YES Bank, and Tata Steel among the top gainers The broader Nifty50 index also crossed the 11,800-mark and closed the day at 11,848, up 51 points, or 0.43 per cent. About 1,418 shares advanced, 1,051 declined, and 170 remained unchanged on the NSE.  All the Nifty sectoral indices except Nifty IT and Nifty FMCG ended with gains, led by Nifty Metal, up 2.7 per cent, and Nifty PSU Bank index, up 1.88 per cent. In the broader market, the S&P BSE MidCap index climbed 117 points, or 0.8 per cent, to 14,792, while the S&P BSE SmallCap was ruling around 14,175, up 66 points, or 0.47 per cent. BUZZING STOCKS Shares of SBI Life Insurance Company hit a 52-week high of Rs 715 per share, up 6 per cent intra-day, on the BSE on Wednesday with heavy buying being seen at the counter in respose to excessive bids being received for stake sale. The stock closed the day 6.17 per cent higher at Rs 716.55.    Dewan Housing Finance Corporation (DHFL) shares dipped 9 per cent to Rs 68.70 on the BSE during intra-day trade on Wednesday after the company said it has defaulted on unsecured commercial paper (CP) of Rs 225 crore that matured on Tuesday. The stock, however, recovered to close 5.77 per cent higher at Rs 79.75.

US Secretary of State Mike Pompeo met Prime Minister Narendra Modi on Wednesday and discussed various aspects of the bilateral relationship to strengthen the India-US strategic partnership. Pompeo, who arrived here last night, will hold detailed discussions with External Affairs Minister S Jaishankar in the afternoon and have a working lunch with him. The two sides will hold high-level engagements on matters of mutual interest including bilateral, regional and global issues. Pompeo's visit to India comes in the backdrop of escalating tensions between the US and Iran and trade differences between New Delhi and Washington. Listen to this podcast for more.

Indian indices could remain volatile today as investors are expected to roll over their positions ahead of the expiry of June series Futures and Options contract due on Thursday. Markets may further track sluggishness in the global markets. Asian stocks slipped on Wednesday after Federal Reserve chief Jerome Powell said that the central bank was “insulated from political pressures,” pushing back against US President Donald Trump’s demand for a significant rate cut. Japan’s Nikkei retreated 0.6% while South Korea’s KOSPI shed 0.1%. Trends on SGX Nifty, the Singaporean exchange for Nifty Futures also suggested a flat start for the indices with a negative bias. Powell’s comments coupled with uncertainty over US-China trade talks also dragged US indices lower during the overnight trade on Tuesday. The Dow Jones Industrial Average lost 0.6% to settle at 26,548 while S&P500 slipped 0.95% to end at 2,917. The Nasdaq composite index too lost 1.5% to close at 7,885. Back home, the benchmark S&P BSE Sensex, on Tuesday, settled 312 points higher at 39,435 while the broader Nifty50 index settled 97 points higher at 11,796. After yesterday’s session, daily charts showed the formation of a long bull candle from the near support levels of 11,650. Further upwards move is expected with Key resistance levels placed between 11,800 and 11,850 levels for the next 1-2 sessions.

Benchmark indices halted their two-day losing streak to settle 0.8 per cent higher in Tuesday's session, lifted by gains in heavyweights like Reliance Industries and HDFC. The S&P BSE Sensex rose 312 points, or 0.8 per cent, to 39,435, with Reliance, NTPC, Axis Bank, Tata Steel, and Powergrid among the top gainers. The broader Nifty50 index settled 97 points, or 0.83 per cent, higher at 11,796. The market breadth was in favour of buyers. About 911 stocks advanced and 834 shares declined on the NSE. All the Nifty sectoral indices ended the session in the green, with Nifty Metal and Nifty PSU Bank gaining 1.7 and 1 per cent, respectively. In the broader market, the S&P BSE MidCap index added 96 points, or 0.6 per cent, to end at 14,674, while the S&P BSE SmallCap climbed 45 points, or 0.32 per cent, at 14,108. BUZZING STOCKS SBI Life Insurance shares dipped 5 per cent to Rs 674.90 on the BSE on Tuesday, as BNP Paribas Cardif's offer-for-sale (OFS) opened today. The floor price has been fixed at Rs 650 per share. READ MORE Trent shares jumped 2 per cent to hit a new high of Rs 436 apiece on the BSE on Tuesday, extending Monday's rally of 5 per cent, after the company said it was seeking shareholders' approval to allot up to 24.65 million equity shares to Tata Sons. The stok ended the day 1.47 per cent higher at Rs 432.25.

Global cues and early trends of Nifty futures on the Singapore Exchange (SGX) indicate a flat start for the domestic stocks on Tuesday. Stocks in Asia were largely tepid in the early trade, as investors looked toward a meeting between the US President Donald Trump and Chinese President Xi Jinping set to happen later in the week. On Wall Street, US stocks ended mostly lower as losses by healthcare companies overshadowed gains in the technology sector. The Dow Jones Industrial Average rose 0.03 per cent, to 26,728 while the S&P 500 lost 0.17 per cent to settle at 2,945 levels. The Nasdaq Composite dropped 0.32 per cent to close at 8,005.70 levels.  In the commodity market, oil prices were steady supported by worries over conflict between Iran and the United States but pressured by concerns about a potential decline in demand for crude.  Back home, the benchmark S&P BSE Sensex on Monday settled 72 points lower at 39,123 while the broader Nifty50 dipped 24 points to 11,700. And, now the top market headlines from today's newspaper -  Sebi plans to tighten rules of pledging shares by promoter group entities;  Number of penny scrips, ie. stocks quoting in single-digits surge over 50 per cent since 2018 while those in high-denominations drop; Loans sanctioned by NBFCs drop 31% in Q4 due to loss of investor confidence;  In the primary market, the initial public offer of IndiaMART InterMESH was subscribed 50 per cent on the first day of the offer on June 24. And, now in stocks to watch today, we have SBI Life, steel stocks, ERIS Lifesciences, IFCI.