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11 July 2016
I had mentioned in Friday’s closing report that Nifty,
Sensex were to move sideways to down. The major indices of the Indian stock
markets rallied to make handsome gains on Monday over Friday’s close. The
trends of the major indices in the course of Monday’s trading are given in the
table below:
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| Major Indices(Total Investment & Insurance Solutions) |
Positive global cues and fresh buying support lifted the
Indian equity markets on Monday. The equity markets closed the day's trade with
healthy gains, as buying support was seen in interest sensitive stocks like
automobiles and banks. The BSE market breadth was skewed in favour of the
bulls -- with 1,718 advances and 1,040 declines. The Total Investment &
Insurance Solutions
Iron ore producer NMDC Ltd. on Monday said its production
has grown by about 28% and sales have increased nearly 17% in the April-June
quarter of the current fiscal. According to provisional data, the mining
behemoth produced 7.63 million tonnes (mt) of iron ore during the April-June
quarter of the current fiscal, up 28% from 5.93 mt produced in the same period
last year. Its sales stood at 7.77 mt in the period under review as compared to
6.65 mt sold in the corresponding period last year, the company said in a
filing to the Bombay Stock Exchange (BSE). Its production stood at 2.64 mt
during June 2016 while its sales during the month were at 2.79 mt, it said. On
a month-on-month basis, its June production, however, fell by 5.37% while its
sales increased by close to 15%. In May, production and sales of the largest
iron ore producers were at 2.79 mt and 2.43 mt respectively. The shares of NMDC
closed at Rs96.25, up 1.69% on the BSE.
The UK's decision to exit the European Union will not
have any significant credit impact on India and other countries in the Asia
Pacific region, Moody's Investors Service said on Monday. However, in case of
countries where fiscal and monetary policy space is constrained, a shift in
portfolio and/or banking flows in some Asia Pacific markets might hurt growth,
said the credit rating agency. While the fiscal and monetary policy space
is constrained in India its exposure to external financing is limited, it said
in its latest report. The Total Investment & Insurance Solutions
Around 45,000 employees in the five associate banks of
the State Bank of India (SBI) will strike work on Tuesday, said a leader of the
All India Bank Employees Association (AIBEA). "Only the workmen (clerical
and messenger cadre) will be on strike. However, work in the branches will be
affected," C.H. Venkatachalam, the AIBEA General Secretary, told IANS. He
said the employees of SBI would not be on strike. SBI shares closed at
Rs224.60, up 2.84% on the BSE.
Fast Moving Consumer Goods major Emami Ltd will launch
more weather agnostic products to de-risk itself from meteorological vagaries
as erratic weather affected its sales, the company's annual report said.
"... a majority of our products are seasonal, erratic weather also
affected our sales. In view of this, we balanced our portfolio through the
introduction of non-season (perennial) products," company's Managing
Director S.K. Goenka said in its annual report released on Sunday. "Over
the next few years, we expect to launch more weather-agnostic products to
de-risk ourselves from meteorological vagaries," he said. The company
remains bullish in the rural market and the business contributed nearly half of
our revenues in the last fiscal (2015-16). Emami shares closed at Rs1,108.20,
up 0.98% on the BSE. The Total Investment & Insurance Solutions
Predicting data revenues for telecom operators to double
to $11 billion by 2017-18, a top brokerage says the much-awaited commercial
entry of Reliance Jio would drive the market further and be best placed with
Bharti Airtel to gain from the upcoming boom. In its latest report, CLSA also
says even as existing operators have begun to focus on content, the key
differentiator will be network delivery, or the quality and download speed --
areas that have intensified ahead of Reliance Jio’s entry. "Given
that each operator’s content is not exclusive and the service differentiation
will be led by network experience, operators are rolling out 3G/4G at an
accelerated pace," the brokerage's study says. "Also given that
content with each operator is not exclusive and can be replicated, we believe
content is not going to be the key differentiator among operators," it
says, more specifically. Bharti Airtel shares closed at Rs359.75, up 1.34% on
the BSE.
The top gainers and top losers of the major indices are
given in the table below:The Total Investment & Insurance
Solutions
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| Top Gainers(Total Investment & Insurance Solutions) |
The closing values of the major Asian indices are given
in the table below:
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| Asian Indices(Total Investment & Insurance Solutions) |
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