Market Update for 08/07/2020: – Street-fluence

Reading Time: 3 minutes


  • Advisers in the Trump administration are weighing proposals to undermine Hong Kong’s dollar peg to the greenback, as officials consider options to punish China for recent moves to clamp down on freedoms in the former British colony.
  • Europe officials lowered economic growth forecasts.
  • Oil fluctuated around $41 a barrel with an industry report signaling a surprise gain in U.S. crude stockpiles.
  • The Stoxx Europe 600 Index fell, dragged lower by banks and health care shares, as data showed German industrial production rose less than forecasted in May.
  • Euro Area officials forecast the economy to contract 8.7% this year, a full percentage point lower than previously predicted.


  • The EIA crude oil inventory report comes today.
  • All eyes will be on the U.S. weekly jobless claims report on Thursday.
  • Singapore holds its general election on Friday.


  • Cabinet ministry to hold a meet today at 10:30 A.M.


RELIANCE: Jio Platforms 10% stake sale to Facebook consummated & Jio Platforms has received Rs 43600 crore.
This should pave way to complete remaining transaction soon.

ADIA redials RIL for another investment of $1 billion in Jio Fibre

Also Read on FinMedium:  What are Enzyme Biotechnology, Market Size and Growth Drivers

TITAN: Store re-opening and sales recovery is better in non-metros on the back of lower impact of the pandemic there. Studded share has been lower, due to better recovery in plain gold jewellery sales. Investment led demand and lower sales contribution from the key metro markets which normally have better studded ratio. Revenue in May and June for Jewellery was 20% and 70% respectively as compared to corresponding months o fthe previous year.

INDUSIND BANK: Hedge fund Route One Investment in talks to raise stake in IndusInd Bank. It has obtained RBI’s nod to raise stake in bank. Route One Investment currently holds 5.41% stake. 10% stake of IndusInd valued at nearly Rs 3,650 cr.

PI INDUSTRIES: Boardmeet Today to decide QIP Issue Price
Floor Price was Rs 1534/ Share.

MARUTI SUZUKI: Production levels in June stood at 50,742 units from 1,11,917 units, on a year-on-year basis.

CEMENT: IIFL dealer survey reveals that there has been price declines across all regions in June. (MoM)
North: -5%
Central: -6%
West: -3%
East: -5%
South: -3%


MIDHANI: Analyst con call- Spoke about growth in space and defence business. Looking to increase exports. Indigenisation of defence equipment will help. Supply chain is not an issue right now.

Also Read on FinMedium:  Indian Hotels 2020 Annual report Takeaways!

TATA CHEMICAL: Q1 Update- It produced over 308,000 ton of salt which is 25% more than last year. Sales Volume increase by 42% YoY. Production of Soda Ash and bicarbonate started to recover. Soda Ash sales Volume over 70%. Sodium bicarbonate sales Vol were 80% of sales.

ICICIBANK: Board meet on Fund Raising today . High delivery volumes yesterday’s trade. Banks gives a pay Hike of 8% to 80k employees.

The Ministry of Chemical is finalising the proposal to become self-reliant in Chemical Sector. According to the initial proposal:

0% corporate tax for the first 5 years

75% for next 5 years, 50% off in subsequent 5 years

Government will give equity capital from 10 to 20%

There will be change in PCPIR policy
It will be implemented as soon as the cabinet approves it. Target of $ 500 billion investment in next 15 years.

FIIs bought 830cr
FIIs bought over 2000cr in last 3 days
GOLD- 1805
DXY- 96.88
OIL- 43
Copper (LME) 6,188.00 +0.97%
Aluminum (LME) 1,634.00 -0.03%
Zinc (LME) 2,070.00 +0.34%

Source link

Disclaimer: The opinions expressed in this publication are those of the authors. They do not purport to reflect the opinions or views of the FinMedium or its members. The presentation of material therein does not imply the expression of any opinion whatsoever on the part of the FinMedium concerning the legal status of any company, country, area, or territory or of its authorities. For more info. please read our ToU & Privacy Policy here. If you have any concerns regarding this post, please reach out to us at

Also Read on FinMedium:  Enzymes – They may be small, but they make a big difference

Every Wednesday and Saturday, we send Info-Graphic and FinMedium Weekly Digest newsletters to our 25000+ Subscribers.

Join Them Now!

Akshada Deo

Akshada Deo

Akshada posts the daily market updates in a summarized format. Stock Market, Literature, Music, and Design are her passions.
Please Share Now :)