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7
November 2016
I had
mentioned in Friday’s closing report that Nifty, Sensex would remain under
pressure. The major indices of the Indian stock markets rallied on Monday and
closed with gains of around 0.68%-0.75% over Friday’s close. However, the rally
was small, as NSE turnover was on the lower side. 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)
Short
covering, value buying and lower chances of a US rate-hike lifted the Indian
equity markets on Monday. The key indices closed the day's trade with
gains of over half a per cent each as buying was witnessed in banking,
healthcare and metal stocks. On the NSE, there were 1,097 advances, 392
declines and 46 unchanged. On the BSE, there were 2,020 advances, 861 declines
and 129 unchanged. The Total Investment & Insurance
Solutions
IT
(information technology) stocks faced resistance at higher levels due to profit
booking. However, banking, pharma, auto, oil-gas, textile and aviation stocks
traded firm on buying support, pointed out market analysts.
Media-entertainment, FMCG (fast moving consumer goods), power and cement stocks
traded with firm sentiments on lower level buying.
Global
cues such as the US presidential election, trends in dollar strength and crude
oil prices are expected to drive investors' sentiments during the week.
Besides, the direction of foreign fund flows, along with the ongoing quarterly
results will be other major themes to look out for during the week starting
November 7, market analysts said. On the domestic front, the ongoing second
quarter earnings results will be watched for sector specific developments.
Major firms like BHEL, Britannia Industries, State Bank of India (SBI), Bharat
Forge and ICICI Bank are expected to come out with their Q2 results during the
week.
The
government-owned-United Bank of India on Monday said it would raise Rs300 crore
through preferential allotment of equity shares to Life Insurance Corporation
(LIC). In a regulatory filing in BSE the bank said its Board of Directors has
approved preferential allotment of equity to LIC or any fund(s) thereof up to
Rs300 crore. Meanwhile, the bank closed the second quarter of the current
fiscal with a lower net profit of Rs43.53 crore down from Rs61.86 crore posted
during the comparable period in 2015. The bank had earned a total income of
Rs2,893.31 crore for the quarter ended September 30, 2016, down from Rs2,927.19
crore earned during the quarter ended September 30, 2015. The bank’s shares
closed at Rs21.50, up 3.61% on the BSE. The
Total Investment & Insurance Solutions
The
National Stock Exchange of India (NSE) on Monday said it has launched Nifty 50
based futures on Taiwan Futures Exchange (TAIFEX). According to NSE, TAIFEX
Nifty 50 futures is a "New Taiwan Dollar" (TWD) denominated contract
and the first Indian equity index futures product to be introduced in Taiwan.
"Nifty 50 represents one of the fastest growing economies in the world.
It's an inevitable choice for global investors who want to invest in
India," said Chitra Ramkrishna, IISL (India Index Services and Products
Limited) Chairperson, and Managing Director and Chief Executive of the NSE.
"Going forward, investors from Taiwan can take a view on the top 50 Indian
companies representing multiple sectors in India by investing in TAIFEX Nifty
50 futures," Ramkrishna was quoted as saying in a statement. The stock
exchange platform said the TAIFEX Nifty 50 futures is TWD 50 per index in
contract size, and will trade from 8:45 a.m. to 6:15 p.m. Taiwan time, covering
the entire trading session of the Indian market. "These contracts provide
useful hedging tools for investors who have India market exposure and need to
manage risk from market fluctuations," the statement said.
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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