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17Th Aug 2016
I had
mentioned in Tuesday’s closing report that Nifty, Sensex were in no man’s land.
The major indices of the stock exchanges were range-bound on Wednesday and
closed with small losses over Tuesday’s close. Investors were cautious and the
trading volumes on NSE were also on the lower side. The trends of the major
indices in the course of Wednesday’s trading are given in the table below: The Total Investment & Insurance
Solutions
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| Major Indices (The Total Investment & Insurance Solutions) |
India Vix closed at 14.78, up 4.21%.
NSE turnover was at 94.16 crore.
Negative global cues, along with
profit booking, subdued the Indian equity markets during the mid-afternoon
trade session on Wednesday. Heavy selling pressure was witnessed in information
technology (IT) and technology, media and entertainment (TECK) stocks. Auto and
aviation stocks showed some strength and traded with firm sentiments, pointed
out market analysts. Sugar stocks traded down on the lack of buying interest. The Total Investment
& Insurance Solutions
Reliance Brands, a part of the
Mukesh Ambani-led industrial group, has entered into a master franchise pact
with the premium Dutch youth fashion company, Scotch and Soda, to set up its
stores in all major Indian cities by next year. "Reliance will also grow
the brand through other channels of sale in India, such as ecommerce, travel commerce,
and leading multi-brand department stores," the company said, adding the
range will cover menswear, womenswear and children’s wear categories through
all channels of sale. Scotch and Soda has over 160 stores of their own
globally, and can be found in over 8,000 other outlets, including the best
global department stores, as also on their Web store. The merchandise is
designed at their church-turned-studio in the heart of Amsterdam. Reliance
Industries shares closed at Rs1,014.00, down 1% on the BSE on Wednesday. The Total Investment
& Insurance Solutions
Cable maker CMI Ltd. said on Tuesday
its revenues in the quarter ended June grew 69.9% to Rs77.01 crore from Rs45.32
crore in the corresponding quarter of the previous year. Profit after tax was
Rs5.50 crore in April-June 2016 against Rs2.83 crore in the first quarter in
the last fiscal, a growth of 93.8%, said a statement issued by the BSE-listed
CMI Ltd. The profit after tax grew 3.36% on a quarter-on-quarter basis over
Rs5.32 crore recorded in the quarter ended March 2016. The earning per share
was Rs3.86 in the quarter ended June, up from Rs2.44 in the first quarter of
2015-16. The company announced in April the start of production at its new
facility in Baddi in Himachal Pradesh, which is part of the recently-acquired
General Cable Energy Private Ltd from General Cable Corporation. CMI shares
closed at Rs182.90, up 4.04% on the BSE.
In view of the high prices of pulses
both in the wholesale and retail markets in the country, the Centre on Tuesday
decided to import about 20,000 tonnes of 'chana dal' and 80,000 tonnes of
'masoor' dal to strengthen its buffer stock. A decision to import these dals
was taken at a meeting of an inter-ministerial committee, headed by Consumer
Affairs Secretary Hem Pande, an official source said. "The government has decided
to import further 20,000 tonnes of chana and 80,000 tonnes of masoor to
strengthen buffer stock," a Food Ministry statement said after the
committee meeting. The meeting discussed about an "alternate
mechanism" for the release of pulses from the buffer stock at an
appropriate time for effective market intervention if sufficient quantity is
not lifted by the states, official sources said. This is likely to rein in
inflation in the Indian economy and improve the underlying bullish trend in the
Indian stock market.
Oil prices rallied for a fourth
straight session on Tuesday, amid speculation that the talks of Organization of
the Petroleum Exporting Countries next month could result in a crude output
freeze. This is likely to set the major indices in the Indian stock markets on
a bullish trend.
The top gainers and top losers of
the major indices are given in the table below:
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Top Gainer (The Total
Investment & Insurance Solutions)
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| Asian Indices (The Total Investment & Insurance Solutions) |
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