A fund manager on Dalal Street makes a strong argument why it is the best time to invest in smallcaps. For long, access to capital, access to talent and access to market have been the three biggest challenges for any small company in India. "As the economy grows and matures, we are solving these problems. The mindset of the best talents wanting to work with larger companies to feel more secure, be able to deliver better and create better wealth for themselves is changing slowly," says he. Point to be noted.
MARKET CUES: Where do we stand >>>  | Nifty futures on Singapore Exchange traded 55 points higher at 7 am (IST) signalling a positive start ahead for Dalal Street |
| On Monday, Nifty50 formed a Doji candle on the daily chart for the second consecutive session. The back-to-back formation of such candles suggested investors were indecisive after the recent rally. |
| Asian stocks advanced this morning, set to round out their best quarter since 2009, as optimism about a recovery overshadowed concerns over an increase in US coronavirus cases. Benchmark indices rose more than 1% in Japan, Australia and South Korea. Hong Kong gains were more modest after the Trump administration suspended some trade benefits for the city over China's new national security law |
| Wall Street stocks closed higher on Monday as investors hoped for a stimulus-backed economic rebound and Boeing shares surged. Dow rose 580 points, or 2.32%, the S&P500 44.19 points, or 1.47%, and the Nasdaq 116 points, or 1.2%. |
| The rupee settled 7 paise higher at 75.58 against the US dollar on Monday supported by weak American currency and easing of crude prices. |
| Safe-haven currencies were on the back foot on Tuesday as hopes of an economic turnaround boosted stock prices. The dollar touched a three-week high against the yen, the euro gained a tad against the greenback, while safe-haven Swiss franc eased a bit against the US currency. Sterling was under pressure after UK government promise to boost public spending. |
| Oil prices fell in early trade on Tuesday after weak Japanese industrial production data. WTI crude futures briefly traded higher then fell 38 cents, or 1%, to $39.32 a barrel while Brent futures fell 32 cents, or 0.8%, to $41.53 |
| Gold prices fell in India on Monday, though global prices continued to rally, edging closer to an eight-year high. Spot gold rose 0.1% to $1,772.61 per ounce in international markets. Back home, gold futures slipped by Rs 50 to Rs 48,250 per 10 gm on MCX while silver futures closed flat at Rs 49,245 per kg. |
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Nifty may see new faces in Aug rejig… The semi-annual review of the components of the Nifty by exchanges could lead to inclusion of more financials, say analysts. Edelweiss said two of the country's largest life insurance firms, HDFC Life Insurance and SBI Life Insurance, could make their way into the main index in the upcoming reshuffle. Divi's Laboratories and consumer major Dabur India are the others that stand a good chance of making it into the Nifty, the brokerage said. Vedanta, Zee Entertainment, Bharti Infratel and GAIL are likely to be excluded, the brokerage said.
Read More RIL close to buying Future Group…. Reliance Industries has moved close to clinching a deal to buy the retail businesses of Kishore Biyani's Future Group, which owns brands like Big Bazaar and EasyDay. The move will further cement RIL's position as the top brick-and-mortar player across categories like groceries, fashion and general merchandise, said two people briefed on the matter. The deal will involve at least three companies promoted by Biyani—Future Retail, Future Lifestyle Fashions and Future Supply Chain Solutions—going for a merger.
Read More Govt to licence A/C import… The Centre is looking to license the import of 10-12 items, including air conditioners and several of its components, and parts of television sets, as it discourages the entry of foreign goods, especially those from China, into the country. While work on licensing of products had started a few months ago, with agarbatti and tyres being among the initial set of items along with palm oil, the list has been expanded in recent weeks as tension on the LAC has escalated, government sources said. The focus on reducing import of products is also part of an exercise to boost domestic production.
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Tiktok, 58 other Chinese apps banned… A day before the third round of talks to resolve the border dispute with China, the Modi government on Monday "blocked" 59 apps owned or backed by the Chinese, including popular ones such as Tik-Tok, UC Browser, WeChat, Shareit and CamScanner for "engaging in activities prejudicial to sovereignty and integrity of India, defence of India, security of state and public order". The Centre said, without naming China, that the "targeted move" against the "malicious apps…used in mobile and nonmobile internet-enabled devices" comes "amid raging concerns" about the "data security and privacy of 130 crore Indians" and follows "several complaints…about misuse of some apps ... for stealing and surreptitiously transmitting users' data in an illegal manner to servers located outside India".
Read More Unlock 2.0 paused… In an indication that the Covid situation remains serious, the "unlocking" process has been paused with fresh guidelines stating that the lockdown shall continue to be strictly implemented in all containment zones till July 31 even as opening of schools & colleges, international passenger flights, Metro services, cinema halls, gymnasiums as well as social, political and religious congregations remain barred. The Unlock 2.0 guidelines issued by the home ministry under the Disaster Management Act for the next one month have relaxed the night curfew timings to between 10pm and 5am. There shall be no restriction on inter-state and intra-state movement of persons & goods.
Read More Airlines cancelling 10-25% daily flights… Domestic airlines are cancelling 10 to 25% of flights every day, leading to chaos, confusion and hundreds of disgruntled passengers, most of whom have not even got refunds, industry executives said. Airlines are selling tickets for up to one-third of their total flights but are operating only about one fourth, cancelling the rest due to either low demand or new norm in the constantly changing lockdown and quarantine rules of states.
Read More IT biggies reprioritize China biz… IT services providers such as TCS, Wipro and Infosys are likely to reprioritise their China businesses, as economic stress and unstable geopolitical relations are impacting their already struggling units that have failed to scale up in the Middle Kingdom, analysts said. For these software services providers, growth in China has been challenging as they have been focusing largely on Western companies with operations there.
Read More Meanwhile... Auto firms red-flag China curbs… After telecom, the auto industry has raised a red flag over sudden restrictions on imports from China and subjecting parts and consignments to rigorous checks at ports, saying this would disrupt manufacturing in the sector at a time when it is struggling with the corona-induced slowdown. The objections have been made by companies as well as industry associations, which say that curbs will hinder operations as many critical parts related to new emissions norms such as BS6 as well as those related to electric vehicles come from China.
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