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3
October 2016
I had
mentioned in Friday’s closing report that Nifty, Sensex might rally if weekly
lows hold. The major indices of the Indian stock markets rallied strongly on
Monday to close 1.35%-1.47% over Friday’s close. The trends of the major
indices in the course of Monday’s trading are given in the table below: The Total Investment & Insurance
Solutions
 |
Major Indices (The Total
Investment & Insurance Solutions)
Positive
global cues lifted the Indian equity markets on Monday. Buying was witnessed in
automobile, capital goods and banking stocks. The BSE market breadth was skewed
in favour of the bulls - with 2,228 advances and 660 declines. On the NSE,
there were 1,316 advances, 155 declines and 42 unchanged. The Total Investment & Insurance Solutions
Two
and three wheeler major Bajaj Auto on Monday reported a decline of 2% in its
total sales for September. According to the company, its total sales during the
month under review stood at 376,765 units from an off-take of 384,400 units
during the corresponding month of 2015. However, total domestic sales in
September were up 21% to 255,592 units from 210,599 units sold during the like
month of last year. The overall exports during the last month declined by 30%
to 121,173 units from 173,801 units shipped out during the corresponding month
of 2015. The company's total motorcycle sales during the month under review
increased by one per cent to 331,976 units from 330,228 units sold in the like
month of last year. In contrast, the overall commercial vehicle sales declined
by 17% to 44,789 units from 54,172 units sold during September 2015. Bajaj Auto
shares closed at Rs2,875.30, up 1.52% on the BSE.
Automobile
manufacturer Hyundai Motor India (HMIL) on Monday reported an overall sales
growth of 4.7% in September. According to the company, its total sales for last
month stood at 59,211 units -- up from 56,539 units sold in the corresponding
month of 2015. The automobile manufacturer's domestic sales grew by 0.2% to
42,605 units, from 42,505 units sold during the like period of last year.
Exports during last month rose by 18.3% to 16,606 units from 14,034 units
shipped out during September 2015. "We hope that the festive season will
see a benchmark growth in the industry with the evenly spread monsoon along
with the 7th Pay commission building to positive sentiments in the
market," said Rakesh Srivastava, Sr. Vice President Sales and Marketing,
Hyundai Motor India. Currently, the company has ten car models across segments
-- Eon, i10, Grand i10, Elite i20, Active i20, Xcent, Verna, Creta, Elantra and
Santa Fe. The S & P BSE Auto Index closed at Rs22,774.95, up 2.44% on
the BSE.
The
Indian government is set to spend $7.2 billion on IT products and services in
2016 -- an increase of 2.4% over 2015, a new report said on Monday. The forecast
includes spending on internal services, software, IT services, data centre,
devices and telecom services, noted the report released by the global research
firm Gartner. IT services (which includes consulting, software support,
business process outsourcing, IT outsourcing, implementation and hardware
support) is expected to grow 9.3% in 2016 to reach $1.8 billion. Telecom
services will be a $1.6 billion market, with the mobile network services
sub-segment recording the fastest growth with 5.2% in 2016 to reach $909
million. "Government spending on software will total $885 million in 2016,
a 4.5% increase from 2015," said Moutusi Sau, principal research analyst
at Gartner. Internal services (salaries and benefits paid to the
information services staff of an organisation) will grow 5.8% in 2016 to reach
$1.5 billion. "The e-governance initiatives to simplify digital
channels and data-driven initiatives are driving investments in the government
and are anticipated to grow through 2020," Sau added. The S & P BSE
Information Technology index closed at 10242.78, up 0.13% on the BSE.
The
pound sterling was the worst performer among major currencies on Monday, after
British Prime Minister Theresa May said Britain would kick off the process of
separating from the European Union (EU) by the end of March 2017. Speaking at
the Tory party's annual conference here, Theresa May ended weeks of speculation
and revealed that she will launch formal Brexit talks with EU leaders before
the end of first quarter of 2017, meaning Britain is set to leave the EU by
summer 2019. The major indices in the Indian stock markets had reacted
adversely when the British public voted in favour of the Brexit.
With
the government cutting the price of domestic natural gas, state-run Indraprastha
Gas Limited (IGL) on Sunday announced a reduction in the selling prices of
compressed natural gas (CNG) and piped natural gas (PNG) in Delhi and the NCR
cities of Noida, Greater Noida and Ghaziabad with effect from midnight. The
revision in prices would result in a decrease of Rs1.40 per kg in the consumer
price of CNG in Delhi, and Rs1.60 per kg in Noida, Greater Noida and Ghaziabad.
As per the release, CNG from Monday will cost Rs35.45 per kg in Delhi and
Rs40.60 per kg in Noida, Greater Noida and Ghaziabad would be effective from
midnight Sunday, the release said. "This is the third price time in the
last one year that prices have been reduced by IGL. The price of CNG in Delhi
remains lowest in the entire country," the company said. The company’s
share closed at Rs790.45, up 1.78% on the BSE.
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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