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12Th
Aug 2016
I had mentioned in last week’s closing report that Nifty, Sensex were to head higher. The major indices of the Indian stock markets were in a flat-to-bullish trend on most days of the week. However, on Tuesday the market turned a little bearish. Over the whole week, the major indices have made marginal gains of less than 0.5%. The trends of the major indices in the course of the week’s trading are given in the table below: The Total Investment & Insurance Solutions
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| Major Indices (The Total Investment & Insurance Solutions) |
On
Monday, sector-wise, healthy buying was witnessed in automobile, oil
and gas, and consumer durables stocks. The BSE market breadth was
tilted in favour of the bulls -- with 1,542 advances and 1,212
declines and 154 unchanged. On the NSE, on Monday, there were 900
advances, 725 declines and 230 unchanged. Gains were capped due to
caution ahead of the Reserve Bank of India's monetary policy review.
FMCG
major Britannia Industries Ltd. on Monday reported a 13% rise in its
consolidated net profit to Rs219.13 crore in the quarter ended June
30, 2016, as compared to Rs193.66 crore in the corresponding period
in 2015. Its consolidated revenue in the quarter under review grew 8%
to Rs2,162 crore against Rs1,998 crore in the year-ago period. The
share price of the company closed at Rs3,143.00, up 9.07% on the BSE.
Profit
booking, along with lower crude oil prices and a weak rupee, dented
the Indian equity markets during the mid-afternoon trade on Tuesday.
Selling pressure was seen in automobiles, fast moving consumer goods
(FMCG) and metal stocks. The BSE market breadth was skewed in favour
of the bears -- with 1,569 declines and 1,185 advances. On the
NSE, there were 542 advances, 912 declines and 58 unchanged.
According to market analysts, consolidation and profit booking in the
absence of any fresh positive development dragged the equity markets
lower. Most IT (information technology) stocks traded down, while
banking and pharma stocks traded with mixed sentiments. Auto and
aviation sector stocks faced selling pressure. Most FMCG stocks
traded down due to profit booking. The Total Investment &
Insurance Solutions
On
Tuesday, Reserve Bank of India (RBI) Governor Raghuram Rajan kept key
policy rates unchanged in his last monetary policy review as the
governor, with little elbow room on account of the country's retail
inflation inching closer to the upper tolerance level of 6%.
Accordingly, the repurchase (repo) rate or the interest commercial
banks pay the central bank for short-term loans remains unchanged at
6.5%. The cash reserve ratio (CRR) that scheduled banks have to keep
in the form of liquid funds also remains unaltered at 4% of deposits.
In the previous policy update, too, conducted on June 7, the policy
rates were left unaltered.
Profit
booking, along with negative global cues and caution over upcoming
quarterly results, dragged the Indian equity markets lower during the
late-afternoon trade session on Wednesday. Heavy selling pressure was
witnessed in automobile, banking and healthcare stocks. The BSE
market breadth was skewed in favour of the bears -- with 1,896
declines and 832 advances. On the NSE, on Wednesday, there were 335
advances, 1,116 declines and 48 unchanged. The Total Investment &
Insurance Solutions
Most
banking and pharma stocks traded down, while IT (information
technology) and auto stocks also faced resistance at higher levels.
Aviation stocks traded with sideways to firm sentiments on higher
crude oil prices. Indian markets continued to trade with weakness and
underperformed its global peers. The Total Investment & Insurance
Solutions
JK
Tyre & Industries (JKTIL) on Tuesday reported a consolidated net
profit of Rs100.26 crore for the quarter ended June 30, 2016.
According to the company, its consolidated net profit for the
corresponding period of last fiscal stood at Rs117.07 crore.
"Consolidated financial results published, as opted by the
company, include working of Cavendish Industries Ltd., acquired on
April 13, 2016 which restarted its operations in mid-May, 2016,"
the company said in a regulatory filing to the BSE. "Therefore,
results of the quarter are not comparable with previous period."
The company's total income during the quarter under review stood at
Rs1,786.77 crore from Rs1,771.06 crore earned during the
corresponding period of 2015-16. The shares of the company closed at
Rs102.20, down 2.76% on the BSE on Wednesday.
On
Thursday, the Indian equity markets traded flat for most of day.
Selling pressure was witnessed in automobile, metal and capital goods
stocks. The markets were bearish with BSE having 1,165 advances,
1,500 declines and 67 unchanged. On the NSE, there were 585 advances,
871 declines and 62 unchanged.The Total Investment & Insurance
Solutions
Automobile
manufacturer Mahindra and Mahindra (M&M) on Wednesday reported a
rise of 12.36% in its standalone net profit for the first quarter of
the current fiscal. According to the company, Q1 standalone net
profit stood at Rs955.21 crore from Rs850.09 crore for the quarter
ended June 30, 2015. The company informed the BSE in a regulatory
filing that its total revenue from operations during the quarter
under review increased by 14.05% to Rs11,942.90 crore from
Rs10,470.86 crore for the quarter ended June 30, 2015. The company
said in a statement that while public investment expenditures remain
strong, urban demand has been picking up pace since the third quarter
of the previous fiscal and is expected to receive further impetus
from the Seventh Pay Commission awards, which will be given effect in
the current month. The company elaborated that rural demand can be
expected to gather further strength in the coming months given the
robust rainfall received thus far and IMD's (India Meteorological
Department) prediction of normal rains for the rest of the monsoon
season. The company cited that weak external demand, underutilised
capacities and balance sheet stress have hindered domestic private
investment. The company’s shares closed at Rs1,420.70, down 1.88%
on the BSE, on Thursday.
Positive
global cues on the back of higher crude oil prices lifted the Indian
equity markets on Friday. Healthy buying was witnessed in banking,
automobile and metal stocks. However, negative European markets and
caution over the upcoming macro-economic data capped gains in the
afternoon session. Stocks of SBI (State Bank of India) traded firm on
positive Q1 (first quarter) earnings. However, IT (information
technology) and pharma stocks traded with mixed sentiments on profit
booking, pointed out market analysts. Friday’s rally was sufficient
for the major indices to go up by around 1% over Thursday’s close.
The Total Investment & Insurance Solutions
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