Business Standard Podcast

The second week of ICC Cricket World Cup 2019 saw three matches getting washed out and the teams sharing the points. As the tournament is progressing, the points table is getting interesting by the day. New Zealand is sitting comfortably on the top of the table, while Afghanistan are yet to open the account.  The rain has played a huge spoilsport. Interesting matches like India vs New Zealand, Pakistan vs Sri Lanka, South Africa vs West Indies, Bangladesh vs Sri Lanka.  got washed out. It would have been a good test for New Zealand to face India, while Pakistan and Bangladesh would have fancied their chances against Sri Lanka. India, on the other hand, beat Australia comfortably. However, the team suffered a huge blow as Shikhar Dhawan was ruled out of the World Cup for three weeks because of a broken thumb. Rishabh Pant has been called as his replacement.  Another frustrating and controversial thing in the world cup has been the bails. At least four times in this world cup the bails did not dislodge after the ball hit the stumps. There have been various views about it but this will need some looking into.  In this BS on Ground podcast, the members of the BS Sports Team discuss India’s match against Pakistan to be played on Sunday and the combination that India can play against them.  To listen to our insights on the ICC Cricket World Cup 2019, subscribe to the BS ON GROUND channel on Google Podcast, Spotify and Apple Podcasts.

The second week of ICC Cricket World Cup 2019 saw three matches getting washed out and the teams sharing the points. As the tournament is progressing, the points table is getting interesting by the day. New Zealand is sitting comfortably on the top of the table, while Afghanistan are yet to open the account.  The rain has played a huge spoilsport. Interesting matches like India vs New Zealand, Pakistan vs Sri Lanka, South Africa vs West Indies, Bangladesh vs Sri Lanka.  got washed out. It would have been a good test for New Zealand to face India, while Pakistan and Bangladesh would have fancied their chances against Sri Lanka. India, on the other hand, beat Australia comfortably. However, the team suffered a huge blow as Shikhar Dhawan was ruled out of the World Cup for three weeks because of a broken thumb. Rishabh Pant has been called as his replacement.  Another frustrating and controversial thing in the world cup has been the bails. At least four times in this world cup the bails did not dislodge after the ball hit the stumps. There have been various views about it but this will need some looking into.  In this BS on Ground podcast, the members of the BS Sports Team discuss India’s match against Pakistan to be played on Sunday and the combination that India can play against them.  To listen to our insights on the ICC Cricket World Cup 2019, subscribe to the BS ON GROUND channel on Google Podcast, Spotify and Apple Podcasts.

A selloff towards the fag end of Friday's session dragged the benchmark indices lower after a range-bound trade for most part of the day. Reliance Industries and banking stocks remained the top drags for the indices with the Bank Nifty dipping 1.17 per cent. The benchmark S&P BSE Sensex ended 289 points, or 0.73 per cent, lower at 39,452, after touching an intra-day low of 39,363. Only five out of the 30 BSE constituents ended the day in the green, with IndusInd, Bharti Airtel, Kotak Bank, Axis Bank, and Tata Motors taking the deepest cuts. The broader Nifty50 index tumbled 91 points to 11,823. About 808 shares advanced, 1686 shares declined, and 144 shares remained unchanged on the NSE. On a weekly basis, both the Sensex and Nifty slipped 0.5 per cent each. All the Nifty sectoral indices ended Friday's session with losses. Nifty Realty, down 2.1 per cent, was among the top losers, while Nifty Bank,Nifty Auto, Nifty FMCG, and Nifty Private Bank, all slipped over 1 per cent. In the broader market, the S&P BSE MidCap index was down 1 per cent to 14,721, while the S&P BSE SmallCap ended the day 110 points, or 0.76 per cent, lower at 14,366.  BUZZING STOCKS RITES shares rallied 6.05 per cent to Rs 293.65 on the BSE on Friday after the company said its board will meet on June 24, 2019 to consider bonus issue proposal.    Gruh Finance shares slipped 8 per cent to Rs 285 on the BSE in early morning trade after the promoter Housing Development Finance Corporation (HDFC) sold more than 4 per cent of the company's paid-up capital in the open market. However, the stock ended the day 5.4 per cent lower at Rs 291.85. 

A selloff towards the fag end of Friday's session dragged the benchmark indices lower after a range-bound trade for most part of the day. Reliance Industries and banking stocks remained the top drags for the indices with the Bank Nifty dipping 1.17 per cent. The benchmark S&P BSE Sensex ended 289 points, or 0.73 per cent, lower at 39,452, after touching an intra-day low of 39,363. Only five out of the 30 BSE constituents ended the day in the green, with IndusInd, Bharti Airtel, Kotak Bank, Axis Bank, and Tata Motors taking the deepest cuts. The broader Nifty50 index tumbled 91 points to 11,823. About 808 shares advanced, 1686 shares declined, and 144 shares remained unchanged on the NSE. On a weekly basis, both the Sensex and Nifty slipped 0.5 per cent each. All the Nifty sectoral indices ended Friday's session with losses. Nifty Realty, down 2.1 per cent, was among the top losers, while Nifty Bank,Nifty Auto, Nifty FMCG, and Nifty Private Bank, all slipped over 1 per cent. In the broader market, the S&P BSE MidCap index was down 1 per cent to 14,721, while the S&P BSE SmallCap ended the day 110 points, or 0.76 per cent, lower at 14,366.  BUZZING STOCKS RITES shares rallied 6.05 per cent to Rs 293.65 on the BSE on Friday after the company said its board will meet on June 24, 2019 to consider bonus issue proposal.    Gruh Finance shares slipped 8 per cent to Rs 285 on the BSE in early morning trade after the promoter Housing Development Finance Corporation (HDFC) sold more than 4 per cent of the company's paid-up capital in the open market. However, the stock ended the day 5.4 per cent lower at Rs 291.85. 

The Union Budget for 2019-20 is likely to spell out roadmap for banking reforms, including consolidation of the state-owned lenders, with a view to enable the sector to play a pivotal role in pushing India towards USD 5 trillion economy, sources said. The first Budget of Modi 2.0 government is scheduled to be presented on July 5 by Finance Minister Nirmala Sitharaman on the backdrop of India's economy hitting 5-year low growth of 6.8 per cent in 2018-1 Listen to this podcast for more.

The Union Budget for 2019-20 is likely to spell out roadmap for banking reforms, including consolidation of the state-owned lenders, with a view to enable the sector to play a pivotal role in pushing India towards USD 5 trillion economy, sources said. The first Budget of Modi 2.0 government is scheduled to be presented on July 5 by Finance Minister Nirmala Sitharaman on the backdrop of India's economy hitting 5-year low growth of 6.8 per cent in 2018-1 Listen to this podcast for more.

Wholesale inflation (WPI) print for May, due later in the day, will be keenly awaited by the investors on Friday. Additionally, crude oil prices, rupee value against the US dollar and FII flows are also expected to steer indices. On Thursday, the stock market ended on a flat note. The S&P BSE Sensex closed 15 points lower at 39,741 while the broader Nifty50 settled at 11,914-mark, up just 8 points. The rupee dived 16 paise to close at 69.50 against the US dollar. Global cues Asian stocks held their ground on Friday after Wall Street gained on a surge in oil prices. MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed. Australian stocks edged up 0.05 per cent while Japan’s Nikkei dipped 0.1 per cent. On Wall Street, the indices ended in the green during the overnight trade on Thursday. The Dow Jones Industrial Average rose 102 points to 26,107, the S&P 500 gained 12 points to 2,892 and the Nasdaq Composite added 44 points to settle at 7,837. In the commodities market, oil prices eased after witnessing a sharp rally on Thursday due to attacks on two oil tankers in the Gulf of Oman. Brent crude futures were down 0.3 per cent at $61.14 a barrel by 6:10 am. 

Wholesale inflation (WPI) print for May, due later in the day, will be keenly awaited by the investors on Friday. Additionally, crude oil prices, rupee value against the US dollar and FII flows are also expected to steer indices. On Thursday, the stock market ended on a flat note. The S&P BSE Sensex closed 15 points lower at 39,741 while the broader Nifty50 settled at 11,914-mark, up just 8 points. The rupee dived 16 paise to close at 69.50 against the US dollar. Global cues Asian stocks held their ground on Friday after Wall Street gained on a surge in oil prices. MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed. Australian stocks edged up 0.05 per cent while Japan’s Nikkei dipped 0.1 per cent. On Wall Street, the indices ended in the green during the overnight trade on Thursday. The Dow Jones Industrial Average rose 102 points to 26,107, the S&P 500 gained 12 points to 2,892 and the Nasdaq Composite added 44 points to settle at 7,837. In the commodities market, oil prices eased after witnessing a sharp rally on Thursday due to attacks on two oil tankers in the Gulf of Oman. Brent crude futures were down 0.3 per cent at $61.14 a barrel by 6:10 am. 

Markets ended flat on Thursday weighed down by banking and auto stocks. Weak global cues and rising retail inflation too contributed to a lackluster trade. The S&P BSE Sensex closed 15 points or 0.04 per cent lower at 39,741 levels dragged by select blue-chip counters like IndusInd Bank, Reliance Industries, YES Bank and Infosys. While PowerGrid and M&M were the top gainers, YES Bank and IndusInd slipped the most. The broader Nifty50 settled just above the psychological level of 11,900 at 11,914 mark, up 8 points or 0.07 per cent. Among sectoral indices, while public sector banks, metals and IT stocks slid, realty and financial services stocks soared. The S&P BSE Sensex touched an intra-day low of 39,461 levels while the Nifty50 drifted to 11,817 levels during the day before staging a limited recovery.  The broader market, S&P BSE Mid Cap settled 49 points lower at 14,873 levels while S&P BSE Small Cap lost 72 points to close at 14,476 levels, taking deeper cuts than benchmark indices. Buzzing stocks Shares of Jet Airways (India) slipped 15 per cent to Rs 93 apiece during the morning deals on Thursday to hit a fresh lifetime low on the BSE and National Stock Exchange (NSE). The fall comes on the back of the exchanges' decision to switch deals on the stock to ‘trade-to-trade’ segment with effect from June 28, 2019 till further notice. Shares of Indiabulls Group companies soared up to 16 per cent from their respective intra-day lows on the BSE on Thursday after Abhay Yadav, the petitioner who had filed a public interest litigation (PIL) against the housing finance major for siphoning off funds worth Rs 98,000 crore, withdrew the writ petition in the Supreme Court.

Markets ended flat on Thursday weighed down by banking and auto stocks. Weak global cues and rising retail inflation too contributed to a lackluster trade. The S&P BSE Sensex closed 15 points or 0.04 per cent lower at 39,741 levels dragged by select blue-chip counters like IndusInd Bank, Reliance Industries, YES Bank and Infosys. While PowerGrid and M&M were the top gainers, YES Bank and IndusInd slipped the most. The broader Nifty50 settled just above the psychological level of 11,900 at 11,914 mark, up 8 points or 0.07 per cent. Among sectoral indices, while public sector banks, metals and IT stocks slid, realty and financial services stocks soared. The S&P BSE Sensex touched an intra-day low of 39,461 levels while the Nifty50 drifted to 11,817 levels during the day before staging a limited recovery.  The broader market, S&P BSE Mid Cap settled 49 points lower at 14,873 levels while S&P BSE Small Cap lost 72 points to close at 14,476 levels, taking deeper cuts than benchmark indices. Buzzing stocks Shares of Jet Airways (India) slipped 15 per cent to Rs 93 apiece during the morning deals on Thursday to hit a fresh lifetime low on the BSE and National Stock Exchange (NSE). The fall comes on the back of the exchanges' decision to switch deals on the stock to ‘trade-to-trade’ segment with effect from June 28, 2019 till further notice. Shares of Indiabulls Group companies soared up to 16 per cent from their respective intra-day lows on the BSE on Thursday after Abhay Yadav, the petitioner who had filed a public interest litigation (PIL) against the housing finance major for siphoning off funds worth Rs 98,000 crore, withdrew the writ petition in the Supreme Court.

Markets ended Wednesday’s choppy session with losses after registering gains for three consecutive days amid selling in banking and financial services counters. Investor sentiment also took a hit on weak global cues.  The benchmark S&P BSE Sensex closed at 39,757 levels, down 194 points or 0.48 per cent with Tata Steel and ONGC being the top gainers while YES Bank and Maruti Suzuki were the top stragglers. The market breadth remained in favor of decline with 122 shares advancing and 320 shares slipping.  The broader NSE Nifty50 settled at 11,906 levels, down 59 points or 0.5 per cent. While realty stocks took the hardest beating, with the index sliding over 2 per cent, banks, financial services and auto stocks skid over a per cent each. Metal scrips were the only sectoral gainer, rising 0.3 per cent.  The S&P BSE Sensex touched an intra-day low of 39,623 levels while the Nifty50 drifted to 11,866 levels during the day before staging a partial recovery.   In the broader market, the S&P BSE Midcap settled 118 points lower at 14,922 levels while the BSE Smallcap ended 70 points lower at 14,549 levels.  Buzzing stocks Shares of newly-listed Neogen Chemicals hit a new high of Rs 337, up 10 per cent on the BSE in an otherwise weak market on Wednesday. The stock, which got listed on the bourses on May 8, 2019, has rallied 57 per cent against its issue price of Rs 215 per share. The stock finally settled at Rs 364 per share, up 18.48 per cent.  Indiabulls Housing Finance dropped out of the club of 100 most valued companies in terms of market capitalisation (market-cap) after a sharp decline in stock price over the past few sessions. The fall comes on the back of reports alleging that the firm has misappropriated Rs 98,000 crore of public money.

Markets ended Wednesday’s choppy session with losses after registering gains for three consecutive days amid selling in banking and financial services counters. Investor sentiment also took a hit on weak global cues.  The benchmark S&P BSE Sensex closed at 39,757 levels, down 194 points or 0.48 per cent with Tata Steel and ONGC being the top gainers while YES Bank and Maruti Suzuki were the top stragglers. The market breadth remained in favor of decline with 122 shares advancing and 320 shares slipping.  The broader NSE Nifty50 settled at 11,906 levels, down 59 points or 0.5 per cent. While realty stocks took the hardest beating, with the index sliding over 2 per cent, banks, financial services and auto stocks skid over a per cent each. Metal scrips were the only sectoral gainer, rising 0.3 per cent.  The S&P BSE Sensex touched an intra-day low of 39,623 levels while the Nifty50 drifted to 11,866 levels during the day before staging a partial recovery.   In the broader market, the S&P BSE Midcap settled 118 points lower at 14,922 levels while the BSE Smallcap ended 70 points lower at 14,549 levels.  Buzzing stocks Shares of newly-listed Neogen Chemicals hit a new high of Rs 337, up 10 per cent on the BSE in an otherwise weak market on Wednesday. The stock, which got listed on the bourses on May 8, 2019, has rallied 57 per cent against its issue price of Rs 215 per share. The stock finally settled at Rs 364 per share, up 18.48 per cent.  Indiabulls Housing Finance dropped out of the club of 100 most valued companies in terms of market capitalisation (market-cap) after a sharp decline in stock price over the past few sessions. The fall comes on the back of reports alleging that the firm has misappropriated Rs 98,000 crore of public money.

The Reserve Bank of India (RBI) on Tuesday directed banks to withdraw the charges levied on the National Electronic Funds Transfer (NEFT) and Real-Time Gross Settlement (RTGS) transactions with effect from July 1. "The banks are advised to pass on the benefits to their customers for undertaking transactions using the RTGS and the NEFT systems with effect from July 1, 2019," said the RBI in a notification. The directive has been issued under Section 10 (2) read with Section 18 of the Payment and Settlement Systems Act 2007 (Act 51 of 2007). Listen to this podcast for more.

The Reserve Bank of India (RBI) on Tuesday directed banks to withdraw the charges levied on the National Electronic Funds Transfer (NEFT) and Real-Time Gross Settlement (RTGS) transactions with effect from July 1. "The banks are advised to pass on the benefits to their customers for undertaking transactions using the RTGS and the NEFT systems with effect from July 1, 2019," said the RBI in a notification. The directive has been issued under Section 10 (2) read with Section 18 of the Payment and Settlement Systems Act 2007 (Act 51 of 2007). Listen to this podcast for more.

Consumer inflation (CPI) and Industrial Production (IIP) numbers for May and April, respectively will be the key data points that investors will track on Wednesday. Besides, global developments, oil prices and rupee value against the dollar will also be watched. On Tuesday, the benchmark S&P BSE Sensex rose 166 points, or 0.42 per cent, to 39,950 while the broader Nifty50 index added 43 points, or 0.36 per cent, to 11,966. The rupee recovered by 21 paise to 69.44 against the US dollar. GLOBAL CUES Asian share markets got off to a cautious start on Wednesday after US President Donald Trump said he was holding up a trade deal with China till Beijing agrees to four or five major points. MSCI’s broadest index of Asia-Pacific shares outside Japan was up a slim 0.1 per cent while Japan’s Nikkei traded flat. Australian shares were up 0.3 per cent. On Wall Street, the indices settled marginally lower during the overnight trade on Tuesday. The Dow Jones Industrial Average settled 14 points lower at 26,049 while the S&P500 ended at 2,886, down 1 point. The Nasdaq also closed 0.6 points lower at 7,822. In the commodities market, oil prices fell on Wednesday, weighed down by a weaker oil demand outlook and a rise in the US crude inventories. Brent crude futures were down 1.22 per cent at $61.53 a barrel by 6:00 am.