Business Standard Podcast

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.

Benchmark indices ended higher, lifted by bank and metal stocks, for third consecutive trading session on Tuesday that also saw Sensex and Nifty reclaim the 40,000-mark and 12,000-mark, respectively, during intra-day trade although the indices settled at lower levels by the end. The benchmark S&P BSE Sensex rose 166 points, or 0.42 per cent, to 39,950, with Tata Motors, ONGC, YES Bank, IndusInd Bank, and Vedanta among the top gainers. Only seven out of the 30 BSE constituents ended the day in the red. The broader Nifty50 index added 43 points, or 0.36 per cent, to 11,966. About 1,141 shares advanced, 1,393 declined, and 153 remained unchanged on the NSE.  Among Nifty sectoral indices, only Nifty FMCG and Nifty Pharma indices were trading in the red, with Nifty PSU Bank, up 1.69 per cent, leading the list of gainers, followed by Nifty Metal index, up 1.32 per cent. In the broader market, the S&P BSE MidCap index jumped 118 points, or 0.79 per cent, to 15,040, while the S&P BSE SmallCap index rose 34 points, or 0.24 per cent, to 14,619. BUZZING STOCKS Shares of all listed Indiabulls Group companies were under pressure, falling up to 10 per cent on the BSE during the early morning trade on Tuesday after media reports alleged Indiabulls Housing Finance Limited (IHFL) for misappropriating Rs 98,000 crore of public money.  Shares of Sterlite Technologies surged 12 per cent to Rs 193 in intraday trade on the BSE on Tuesday on the back of heavy volumes after promoter Twin Star Overseas removed entire pledge on the company's shares. The share ended the day 10.81 per cent higher at Rs 191.75. 

Benchmark indices ended higher, lifted by bank and metal stocks, for third consecutive trading session on Tuesday that also saw Sensex and Nifty reclaim the 40,000-mark and 12,000-mark, respectively, during intra-day trade although the indices settled at lower levels by the end. The benchmark S&P BSE Sensex rose 166 points, or 0.42 per cent, to 39,950, with Tata Motors, ONGC, YES Bank, IndusInd Bank, and Vedanta among the top gainers. Only seven out of the 30 BSE constituents ended the day in the red. The broader Nifty50 index added 43 points, or 0.36 per cent, to 11,966. About 1,141 shares advanced, 1,393 declined, and 153 remained unchanged on the NSE.  Among Nifty sectoral indices, only Nifty FMCG and Nifty Pharma indices were trading in the red, with Nifty PSU Bank, up 1.69 per cent, leading the list of gainers, followed by Nifty Metal index, up 1.32 per cent. In the broader market, the S&P BSE MidCap index jumped 118 points, or 0.79 per cent, to 15,040, while the S&P BSE SmallCap index rose 34 points, or 0.24 per cent, to 14,619. BUZZING STOCKS Shares of all listed Indiabulls Group companies were under pressure, falling up to 10 per cent on the BSE during the early morning trade on Tuesday after media reports alleged Indiabulls Housing Finance Limited (IHFL) for misappropriating Rs 98,000 crore of public money.  Shares of Sterlite Technologies surged 12 per cent to Rs 193 in intraday trade on the BSE on Tuesday on the back of heavy volumes after promoter Twin Star Overseas removed entire pledge on the company's shares. The share ended the day 10.81 per cent higher at Rs 191.75. 

The government has dismissed from service 12 senior income tax officers, including one of the ranks of the joint commissioner, on charges of corruption and professional misconduct The government has dismissed from service 12 senior income tax officers, including one of the ranks of the joint commissioner, on charges of corruption and professional misconduct. The list is topped by a Joint Commissioner rank officer against whom there are serious complaints of corruption and extortion from businessmen accused of helping a self-styled godman It also includes an IRS officer in the post of Commissioner (Appeal) in Noida, who was accused of sexual harassment to two lady IRS officers of Commissioner rank. Listen to this podcast for more.

The government has dismissed from service 12 senior income tax officers, including one of the ranks of the joint commissioner, on charges of corruption and professional misconduct The government has dismissed from service 12 senior income tax officers, including one of the ranks of the joint commissioner, on charges of corruption and professional misconduct. The list is topped by a Joint Commissioner rank officer against whom there are serious complaints of corruption and extortion from businessmen accused of helping a self-styled godman It also includes an IRS officer in the post of Commissioner (Appeal) in Noida, who was accused of sexual harassment to two lady IRS officers of Commissioner rank. Listen to this podcast for more.

US-China trade war is likely to be on the investors' radar on Tuesday. US President Donald Trump said on Monday he was ready to impose another round of punitive tariffs on Chinese imports if he cannot make progress in trade talks with Chinese President Xi Jinping at the G20 summit.  Additionally, oil prices, movement of rupee against the US dollar and FII flows will also play a key role.  On Monday, the S&P BSE Sensex rose 169 points, or 0.43 per cent, to 39,785 while the broader Nifty50 index added 52 points, or 0.44 per cent, to settle at 11,923. The rupee closed 19 paise lower at 69.65 against the US dollar on Monday. GLOBAL CUES Asian stocks made modest gains on Tuesday. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.2 per cent. South Korea’s KOSPI added 0.15 per cent and Japan’s Nikkei edged up 0.05 per cent. On Wall Street, indices ended higher after weak US jobs data bolstered hopes of a rate cut from the Federal Reserve. During the overnight trade on Monday, the Dow Jones Industrial Average added 79 points to end at 26,063 while the S&P500 gained 13 points to close at 2,887. The Nasdaq too ended 81 points higher at 7,823. In the commodities market, oil prices stabilised on Tuesday on expectations that producer group OPEC and allies will withhold supply to prevent prices from tumbling. 

US-China trade war is likely to be on the investors' radar on Tuesday. US President Donald Trump said on Monday he was ready to impose another round of punitive tariffs on Chinese imports if he cannot make progress in trade talks with Chinese President Xi Jinping at the G20 summit.  Additionally, oil prices, movement of rupee against the US dollar and FII flows will also play a key role.  On Monday, the S&P BSE Sensex rose 169 points, or 0.43 per cent, to 39,785 while the broader Nifty50 index added 52 points, or 0.44 per cent, to settle at 11,923. The rupee closed 19 paise lower at 69.65 against the US dollar on Monday. GLOBAL CUES Asian stocks made modest gains on Tuesday. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.2 per cent. South Korea’s KOSPI added 0.15 per cent and Japan’s Nikkei edged up 0.05 per cent. On Wall Street, indices ended higher after weak US jobs data bolstered hopes of a rate cut from the Federal Reserve. During the overnight trade on Monday, the Dow Jones Industrial Average added 79 points to end at 26,063 while the S&P500 gained 13 points to close at 2,887. The Nasdaq too ended 81 points higher at 7,823. In the commodities market, oil prices stabilised on Tuesday on expectations that producer group OPEC and allies will withhold supply to prevent prices from tumbling. 

Macro numbers including inflation data for May and industrial production data for April will be the key monitorables for investors this week. While the retail inflation and IIP (index of industrial production) numbers will be released on Wednesday, the wholesale inflation print will be released on Friday. Besides, the liquidity situation in the NBFC sector, progress in monsoon, oil prices, rupee value against the US dollar and global cues will also dominate investor sentiment. On Friday, the S&P BSE Sensex gained 86 points or 0.22 per cent to close at 39,616, while the Nifty50 rose 27 points or0.23 per cent to end at 11,871. The Sensex and Nifty50, however, lost 0.25 per cent and 0.44 per cent, respectively on a weekly basis. The rupee on Friday closed 20 paise weaker at 69.47 per one US dollar against Thursday’s close. Global cues Asian shares traded higher on Monday after the US President Donald Trump backed off his plan to impose tariffs on Mexican goods. Japan’s Nikkei was up 218 points, while South Korea’s Kospi added 5 points. On Wall Street, the Dow Jones added 263 points on Friday to end at 25,984 while the S&P500 closed 30 points higher at 2,873. The Nasdaq gained 126 points to settle at 7,742. In the commodities market, oil prices rose after expectations firmed up regarding supply cuts by OPEC and Russia. Brent crude futures were at $63.71 at 5:45 am, 0.7 per cent above Friday’s close.

Macro numbers including inflation data for May and industrial production data for April will be the key monitorables for investors this week. While the retail inflation and IIP (index of industrial production) numbers will be released on Wednesday, the wholesale inflation print will be released on Friday. Besides, the liquidity situation in the NBFC sector, progress in monsoon, oil prices, rupee value against the US dollar and global cues will also dominate investor sentiment. On Friday, the S&P BSE Sensex gained 86 points or 0.22 per cent to close at 39,616, while the Nifty50 rose 27 points or0.23 per cent to end at 11,871. The Sensex and Nifty50, however, lost 0.25 per cent and 0.44 per cent, respectively on a weekly basis. The rupee on Friday closed 20 paise weaker at 69.47 per one US dollar against Thursday’s close. Global cues Asian shares traded higher on Monday after the US President Donald Trump backed off his plan to impose tariffs on Mexican goods. Japan’s Nikkei was up 218 points, while South Korea’s Kospi added 5 points. On Wall Street, the Dow Jones added 263 points on Friday to end at 25,984 while the S&P500 closed 30 points higher at 2,873. The Nasdaq gained 126 points to settle at 7,742. In the commodities market, oil prices rose after expectations firmed up regarding supply cuts by OPEC and Russia. Brent crude futures were at $63.71 at 5:45 am, 0.7 per cent above Friday’s close.

Benchmark indices ended Friday's volatile session with marginal gains, lifted by HDFC twins and bank stocks amid weakness in pharma counters. The S&P BSE Sensex rose 86 points, or 0.2 per cent, to 39,616, with IndusInd Bank, Bajaj Finance, Mahindra & Mahindra, State Bank of India, and ICICI Bank being the top gainers. Only 12 of the 30 BSE constituents ended the day in the green. The broader Nifty50 index added 27 points, or 0.23 per cent, to 11,871. About 1058 shares advanced, 1390 shares declined, and 146 shares remained unchanged on the NSE. The Nifty sectoral indices traded mixed, with Nifty Fin Service index gaining the most 0.9 per cent, while the Nifty Pharma index slipped the most 1.2 per cent. In the broader markets, the S&P BSE MidCap index dipped 25 points, or 0.17 per cent, to 14,906, while the S&P BSE SmallCap index was down 16 points , or 0.1 per cent, to 14,657. BUZZING STOCKS Shares of Eros International Media on Friday plunged 20 per cent to hit a new low of Rs 42.50 despite the company's clarification on credit rating downgrade by CARE Ratings, which had cut its long-term loan facilities ratings from 'BBB-' to 'D'.  Shares of Manappuram Finance slipped 10 per cent in the intra-day trade to quote Rs 124 apeice on the BSE on Friday after markets regulator, Securities and Exchange Board of India (Sebi), issued notice to five Asset Management Companies (AMCs) alleging insider trading in favour of the company. The stock, however, pared some of its losses later in the day to settle at Rs 131.90, down 4.18 per cent.

Benchmark indices ended Friday's volatile session with marginal gains, lifted by HDFC twins and bank stocks amid weakness in pharma counters. The S&P BSE Sensex rose 86 points, or 0.2 per cent, to 39,616, with IndusInd Bank, Bajaj Finance, Mahindra & Mahindra, State Bank of India, and ICICI Bank being the top gainers. Only 12 of the 30 BSE constituents ended the day in the green. The broader Nifty50 index added 27 points, or 0.23 per cent, to 11,871. About 1058 shares advanced, 1390 shares declined, and 146 shares remained unchanged on the NSE. The Nifty sectoral indices traded mixed, with Nifty Fin Service index gaining the most 0.9 per cent, while the Nifty Pharma index slipped the most 1.2 per cent. In the broader markets, the S&P BSE MidCap index dipped 25 points, or 0.17 per cent, to 14,906, while the S&P BSE SmallCap index was down 16 points , or 0.1 per cent, to 14,657. BUZZING STOCKS Shares of Eros International Media on Friday plunged 20 per cent to hit a new low of Rs 42.50 despite the company's clarification on credit rating downgrade by CARE Ratings, which had cut its long-term loan facilities ratings from 'BBB-' to 'D'.  Shares of Manappuram Finance slipped 10 per cent in the intra-day trade to quote Rs 124 apeice on the BSE on Friday after markets regulator, Securities and Exchange Board of India (Sebi), issued notice to five Asset Management Companies (AMCs) alleging insider trading in favour of the company. The stock, however, pared some of its losses later in the day to settle at Rs 131.90, down 4.18 per cent.

It’s the end of a long era at Wipro as Azim Premji, chairman of the software major, calls it a day, handing over charge to his elder son, Rishad, after leading the company for more than 50 years. The Bengaluru-headquartered company on Thursday announced Premji, 75, will step down as executive chairman on July 30. He, however, will continue to be on its board as non-executive director for five years starting from July 31, 2019. He was conferred the title founder chairman of the company. “Rishad Premji, chief strategy officer and member of the board, will take over as the executive chairman of the company (effective July 31),” Wipro said in a statement. Listen to this podcast for more. 

It’s the end of a long era at Wipro as Azim Premji, chairman of the software major, calls it a day, handing over charge to his elder son, Rishad, after leading the company for more than 50 years. The Bengaluru-headquartered company on Thursday announced Premji, 75, will step down as executive chairman on July 30. He, however, will continue to be on its board as non-executive director for five years starting from July 31, 2019. He was conferred the title founder chairman of the company. “Rishad Premji, chief strategy officer and member of the board, will take over as the executive chairman of the company (effective July 31),” Wipro said in a statement. Listen to this podcast for more. 

Fear of contagion looming over India's financial sector after the latest default on interest payments by Dewan Housing Finance Corporation (DHFL) will continue to weigh on investor sentiment on Friday.  Additionally, progress in trade dialogues between the United States and Mexico, oil prices and movement of rupee against the US dollar will also play a key role. On Thursday, benchmark indices posted their biggest one-day loss in 2019 despite the monetary policy committee (MPC) of the Reserve Bank of India (RBI) reducing the repo rate by 25 basis points to 5.75 per cent in its June policy meet.  The S&P BSE Sensex slipped 554 points to 39,530 while the broader Nifty50 index tumbled 178 points, to 11,844 levels. The rupee closed at 69.27 per US dollar. GLOBAL CUES In Asian markets, MSCI’s broadest index of Asia-Pacific shares outside Japan edged 0.04 per cent higher. Japan’s Nikkei firmed 0.3 per cent, but South Korea’s Kospi slipped 0.5 per cent. On Wall Street, the indices ended in the green during the overnight trade on Thursday on optimism that the US and Mexican officials could crack a deal soon. The Dow Jones added 181 points to settle at 25,721 while the S&P500 gained 17 points to close at 2,843 levels. The Nasdaq ended 40 points higher at 7,615. In the commodities market, oil prices moved further away from five-month lows hit earlier this week. Brent crude futures were up 0.8 per cent at $62.17 a barrel by 6:10 am. 

Fear of contagion looming over India's financial sector after the latest default on interest payments by Dewan Housing Finance Corporation (DHFL) will continue to weigh on investor sentiment on Friday.  Additionally, progress in trade dialogues between the United States and Mexico, oil prices and movement of rupee against the US dollar will also play a key role. On Thursday, benchmark indices posted their biggest one-day loss in 2019 despite the monetary policy committee (MPC) of the Reserve Bank of India (RBI) reducing the repo rate by 25 basis points to 5.75 per cent in its June policy meet.  The S&P BSE Sensex slipped 554 points to 39,530 while the broader Nifty50 index tumbled 178 points, to 11,844 levels. The rupee closed at 69.27 per US dollar. GLOBAL CUES In Asian markets, MSCI’s broadest index of Asia-Pacific shares outside Japan edged 0.04 per cent higher. Japan’s Nikkei firmed 0.3 per cent, but South Korea’s Kospi slipped 0.5 per cent. On Wall Street, the indices ended in the green during the overnight trade on Thursday on optimism that the US and Mexican officials could crack a deal soon. The Dow Jones added 181 points to settle at 25,721 while the S&P500 gained 17 points to close at 2,843 levels. The Nasdaq ended 40 points higher at 7,615. In the commodities market, oil prices moved further away from five-month lows hit earlier this week. Brent crude futures were up 0.8 per cent at $62.17 a barrel by 6:10 am.