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25
October 2016
I had mentioned in Monday’s closing
report that Nifty, Sensex might give up recent gains. The major indices of the
Indian stock markets were range-bound on Tuesday and closed with small losses
over Monday’s close.The
Total Investment & Insurance Solutions
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| Major Indices (The Total Investment & Insurance Solutions) |
Negative global cues and a weakened
rupee depressed the Indian equity markets during the mid-afternoon trade
session on Tuesday. Besides, scrips of Tata Group's subsidiaries pared some of
their initial losses during the mid-afternoon trade session, but still traded
in the red, a day after Cyrus P Mistry was removed as the Chairman of Tata
Sons. The BSE market breadth was firmly in favour of the bears -- with 1,439
declines and 1,351 advances. On the NSE, there were 694 advances, 925 declines,
266 unchanged.The
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CNX Nifty traded with bearish
sentiments due to profit booking. IT, banking, auto and oil-gas stocks faced
profit booking at higher levels, pointed out market analysts. However, pharma,
textile, aviation and media entertainment stocks traded firm on buying support
from traders. Broadly negative Asian markets and an appreciation in the US
dollar, as well as lower than expected quarterly results, lent a weak bias,
observed market analysts.
Tata Sons is the holding company of
the Tata Group. Shares of various subsidiaries of the industrial conglomerate
fell in a range of about 1%-4% during the initial part of the Tuesday's trade.
At the BSE, shares of major firms like Tata Motors and Tata Steel pared some of
their initial losses, but still traded in the red. Tata Steel shares closed at
Rs414.75, down 2.65% on the BSE.The
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The Supreme Court on Tuesday told
liquor baron Vijay Mallya to disclose in full the assets he holds overseas
including the details of the $40 million he got from Diageo in February. Such
strictness in dealing with promoters is likely to help the public sector banks
in general on their own NPAs (non-performing assets). Bank Nifty closed at
19,834.90, up 0.14% on Tuesday. The government expects the entire Insolvency
and Bankruptcy Law to become operational by end-December, Economic Affairs
Secretary Shaktikanta Das said on Tuesday.
Telecom tower firm Bharti Infratel
on Monday reported close to 31% jump in its consolidated net profit to Rs773.80
crore for the quarter ended September 30 compared with Rs591.60 crore for the
same period a year ago. The company's income from operations grew nine per cent
year-on-year to Rs1,496.30 crore during the second quarter of this fiscal from
Rs1,372.60 crore in the same period last fiscal, according to a BSE filing. The
company, in a release, said its consolidated revenues for the quarter stood at
Rs3,292 crore, which grew by 8% over the corresponding period last year. The
company’s shares closed at Rs377.40, up 2.04% on the BSE on Tuesday.The
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US stocks traded higher on Monday as
Wall Street digested a batch of generally positive earnings reports. The Dow
Jones Industrial Average rose 91.60 points, or 0.50%, to 18,237.31. The S&P
500 gained 9.92 points, or 0.46%, to 2,151.08. The Nasdaq Composite Index
increased 45.56 points, or 0.87%, to 5,302.96. Shares of T-Mobile surged over
7% around mid-day on Monday after the company posted better-than-expected
quarterly results. The US wireless carrier announced Monday net income of $366
million, or 42 cents per share, for the third quarter of 2016, compared with
$138 million, or 15 cents a share, during the same quarter last year. The
latest data from Thomson Reuters showed that the S&P 500 companies' blended
earnings in the third quarter of 2016 are expected to rise 1.1% year on year,
while the revenues are forecast to increase 2.5%. US economic data also came
out positive. Adjusted for seasonal influences, the Markit Flash US Manufacturing
Purchasing Managers' Index rebounded from a three-month low of 51.5 in
September to 53.2 in October, beating market consensus of 51.2. On Friday, US
stocks closed mixed after wavering in a tight range.The
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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) |
The closing values of the major
Asian indices are given in the table below: The Total Investment
& Insurance Solutions
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| Asian Indices (The Total Investment & Insurance Solutions) |
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