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1 September 2016
I had mentioned
in Wednesday’s closing report that Nifty, Sensex might continue to rally. The
major indices of the Indian stock markets were range-bound on Thursday and
closed with minor losses over Wednesday’s close. The trends of the major
indices in the course of Thursday’s trading are given in the table below:
 |
Major Indices (The Total
Investment & Insurance Solutions)
Following the big ticket
announcement by Reliance Industries on Jio commercial launch, key Indian stock
market indices were trading flat on Thursday afternoon. Most telecom stocks
were trading lower. Selling pressure was seen in telecom, technology, media and
entertainment (TECK) and realty sectors, while good buying was observed in
auto, metal and fast moving consumer goods (FMCG) sectors. On the NSE, on
Thursday, there were 479 advances, 993 declines and 50 unchanged.
Taking the tariff war and
competition in Indian telecom a new level, Reliance Industries Chairman Mukesh
Ambani on Thursday said domestic voice calls on the Jio network will be free
forever, and unveiled a four-month introductory offer of free voice and data
services. "The era of paying for voice calls is ending," Ambani told
the Annual General Meeting of Reliance Industries (RIL) in Mumbai. "No Jio
customer will ever have to pay for voice calls again," he added. Bharti
Airtel shares closed at Rs310.50, down 6.43% on the BSE. Reliance Industries
shares closed at Rs1,029.15, down 2.73% on the BSE.
Commercial vehicle major Ashok
Leyland Ltd on Thursday said it sold a total of 10,897 units last month, down
by 6%. In a statement issued here, the company said it closed last month
selling 10,897 units -- down from 11,544 units sold in August 2015. While the
sales of light commercial vehicles went up by two per cent last month to 2,696
units, the sales of medium, heavy commercial vehicles went down 8% to 8,201
units. Ashok Leyland shares closed at Rs83.80, down 4.45% on the BSE.
India's leading car maker Maruti
Suzuki India Ltd said on Thursday it logged 12% growth in sales in August. In a
regulatory filing with the BSE, the company said it sold 132,211 units (119.931
domestic/12,280 exports) last month against 117,864 units (106,781/11,083)
during August 2015. While the sales of utility vehicles zoomed last month to
16,806 units up by 114.5%, the mid-size car segment (Ciaz) the compact segment
(Swift, Ritz, Baleno, Celerio and Dzire) and the van segment also logged sales
growth. However Maruti Suzuki saw negative growth in its mini segment (Alto,
WagonR) and super compact segment (Dzire Tour) last month as compared to sales
logged in August 2015. Maruti Suzuki shares closed at Rs5,058.25, up 0.11% on
the BSE.
The Supreme Court on Thursday said
that the National Mineral Development Corporation (NMDC) can continue with its
dual pricing policy for iron ore. Under the dual pricing, NMDC sells iron ore
at different prices in different states. While allowing the dual pricing
policy, the court declined the plea by Vedanta to export the iron ore that it
cannot sell in Goa and Karnataka. NMDC shares closed at Rs106.20, down 1.62% on
the BSE. Vedanta shares closed at Rs170.20, up 0.09% on the BSE.
The US dollar declined against most
major currencies as economic data from the country came out mixed. In late New
York trading on Wednesday, the euro rose to $1.1152 from $1.1137 of the
previous session, and the British pound increased to $1.3128 from $1.3078, Xinhua
news agency reported. The Australian dollar climbed to $0.7516 from $0.7505. US
private sector employment added 177,000 jobs from July to August, above the
market consensus of 175,000, according to the August ADP National Employment
Report on Wednesday. The ADP figure is watched closely as a pre-indicator for
the non-farm payrolls report due on Friday.
The top gainers and top losers of
the major indices are given in the table below:
 |
| Top Gainer (The Total Investment & Insurance Solutions) |
The closing values of the major
Asian indices are given in the table below:The Total Investment
& Insurance Solutions
 |
| Asian Indices (The Total Investment & Insurance Solutions) |
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