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23
January 2017
I had
mentioned in Friday’s closing report that Nifty, Sensex were in a downtrend.
The major indices of the Indian stock markets were range-bound on Monday and
closed with small gains over Friday’s close. NSE turnover was on the lower side
on Monday. 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)
Indian
equities markets traded on a flat-to-positive note during the mid-afternoon
trade session on Monday, as rupee appreciation, coupled with hopes of positive
incentives in the upcoming Union Budget and broadly positive Asian indices,
kept investors' sentiments buoyed. The key indices traded marginally in the
green, even as gains were capped by profit booking. Buying was witnessed in
metal, oil and gas, and FMCG stocks. The BSE market breadth was tilted in
favour of the bulls -- with 1,607 advances and 1,108 declines. On the NSE,
there were 899 advances, 532 declined and 70 unchanged. The Total Investment & Insurance Solutions
Asian
markets barring Nikkei traded flat-to-positive, but the domestic market
witnessed profit booking as investors are in a wait and watch mode for the
Union Budget, according to market analysts. US President Trump's
protectionist address has made the global markets to be in a profit-booking
mode. Meanwhile, gold has hit a 2-month high, as investors sought safer assets
amid uncertainty around the economic policies of the new US President and as
the dollar declined against other major currencies. The Total Investment & Insurance Solutions
A
farmers’ body on Monday urged the Centre to reduce tax on the cigarette
industry to enable tobacco growers to get the right prices for their crop. The
Federation of All India Farmer Associations (FAIFA) said the measure was
required as the tobacco farmers' agricultural output was currently in less
demand by the cigarette companies. The association-- representing millions of
farmers of commercial crops in India -- said tobacco provides livelihood to 4.6
crore farmers, farm labour, retailers and bidi workers. It claimed that
it was witnessing a continued onslaught in terms of punitive and sustained
increase in taxation and impractical regulation over the past few years.
Cigarette manufacturers’ shares are likely to be in a bearish trend on the
Indian stock exchanges. The Total Investment
& Insurance Solutions
Following
special forward e-auction for power sector and exclusive e-auction for
non-power consumers being conducted in a "regular manner", Coal India
Ltd (CIL) has advised its subsidiaries to stop conducting the Forward e-auction
Scheme 2007. "In view of the fact that 'Special Forward e-auction' for
power and 'Exclusive e-auction' for non-power consumers are now being conducted
in a regular manner, it was decided to discontinue with the 'Forward e-auction
Scheme 2007'. Coal companies are accordingly advised to stop conducting
'Forward e-auction Scheme 2007' immediately," CIL said. "If there are
any residual bookings against already conducted forward e-auction, the same may
be allowed to be completed," it added. Meanwhile, the coal miner envisages
selling 10% of its annual output in the next three years via e-auction, for
which it invited bids from service providers. CIL shares closed at Rs304.10, up
0.12% on the BSE. The Total Investment & Insurance
Solutions
Expectations
from the upcoming Union Budget, along with global cues and domestic quarterly
earnings results, are expected to determine the trajectory of Indian equities
markets this week. Market observers pointed out that investors are expected to
closely follow rupee volatility, global crude oil prices and the assessment of
the demonetisation impact on the India Inc's bottom line.
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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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