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11
November 2016
I had mentioned
in last week’s closing report that Nifty, Sensex were likely to remain under
pressure. The major indices of the Indian stock markets showed a lot of
volatility and closed with significant losses for the week. On Friday, in
particular, the losses were around 2.5% over Thursday’s close. 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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Weekly Indices (The Total
Investment & Insurance Solutions)
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 would be other
major themes to look out for during the week starting November 7, market
analysts said.
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
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
Private sector ICICI Bank Ltd on
Monday said it closed the second quarter of the current fiscal with a net
profit of Rs3,102.27 crore as compared to Rs3,030.11 crore for the same quarter
last year. In a regulatory filing in BSE, the bank said it its total income has
increased from Rs16,106.22 crore for the quarter ended September 30, 2015 to
Rs22,759.08 crore for the quarter ended September 30, 2016. During the quarter,
the bank launched the Unified Payments Interface, or UPI and enabled
UPI based transactions on its’ mobile
banking applications -‘iMobile’ and ‘Pockets’.
The bank now has over 200,000 Virtual Payment Addresses on UPI. On
Tuesday, the bank’s shares closed at Rs283.20, up 1.60% on the BSE.
Ceat Limited, an RPG Group company,
on Monday reported a 1.55% rise in its consolidated net profit to Rs106.92
crore for the quarter ended September 30, 2016 as compared to Rs105.28 crore in
the corresponding period last year. On a consolidated basis, the tyre maker's
revenue stood at Rs1,419 crore in the three months ended September 30, up by
5.7% on a year-on-year basis. EBITDA stood at Rs194 crore from Rs192 crore on a
year on year basis, while margins were at 13.7% during the quarter. On the
products front, the company launched puncture safe tyres for bikes - a first in
India, and fuel smart series for passenger cars, a statement added. The
company’s shares closed at Rs1,305.95, up 7%, on the BSE.
Profit booking on Tuesday after
Monday's gains triggered selling pressure in healthcare, capital goods and IT
(information technology) stocks. However, close to the end of the trading
session, optimistic investors ensured a rally on thinner trading to close with
minor gains over Monday’s close. On the NSE, there were 617 advances, 849
declines and 59 unchanged. On the BSE, there were 1,354 advances, 1,528
declines and 126 unchanged.
On Wednesday at the open, the Sensex
crashed 1,688 points, or 6.12%, following Donald Trump’s lead in the US
elections and the government's decision the previous evening to demonetise
Rs500 and Rs1,000 currency notes. However, by the time Democratic Party’s
Hillary Clinton conceded defeat and Trump gave his victory speech, the index
had significantly risen from the lows, and was quoting at 27,207.92 points,
down 383.22 points, or 1.39%.
Initially, all the 30 shares that go
into the Sensex basket were quoting in the red. But upon the recovery, four
stocks were in the green, three of them from the pharma space -- Dr Reddy's,
Sun Pharma (closed at Rs661.10, up 4.07%, on the BSE on Wednesday) and Lupin
(closed at Rs1,529.05, up 1.31% on the BSE on Wednesday). The State Bank of
India was also in the positive territory (closed at Rs259.75, up 2.83%, on the
BSE on Wednesday).
On the NSE there were 1,354
declines, 279 advances and 245 unchanged on Wednesday. On the BSE there were
2,157 declines, 610 advances and 97 unchanged. NSE trading volumes were higher
than average, reflecting the volatility in the stock markets on Wednesday.
A day after global and domestic cues
heavily dented investors' sentiments, the Indian equity markets made
substantial gains during the mid-afternoon trade session on Thursday. The key
indices traded with gains of more than 0.97% each as positive global markets,
rupee appreciation and short covering enhanced investors' risk-taking appetite.
Sector-wise, buying was witnessed in all the 19 sub-indices of the BSE, led by
banking, metal and healthcare stocks. Another positive trigger for the domestic
markets was the Finance Minister's announcement that the Goods and Services Tax
would most probably get implemented by September next year. The overall
sentiment in the global markets remained positive. On the NSE, there were 1,184
advances, 268 declines and 31 unchanged. On the BSE there were 2,023 advances,
727 declines and 132 unchanged. The Total Investment & Insurance
Solutions
The market indices fell heavily on
Friday as there were fears of US rate hike, stronger dollar and fears of lower
growth following demonetisation. The key indices, on Friday, traded with losses
of more than 2.5% each over Thursday’s close, as selling pressure was witnessed
in automobile, consumer durables and banking stocks. The BSE market breadth was
skewed in favour of the bears -- with 2,101 declines and 410 advances. On the
NSE, there were 1,428 declines, 193 advances and 258 unchanged. The rupee has
weakened on the back of the dollar gaining strength. This has also increased
the possibility of a US Fed rate-hike in December. The Total Investment
& Insurance Solutions
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