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16
February 2017
I had mentioned in
Wednesday’s closing report that Nifty, Sensex were turning weak. The major
indices of the Indian stock markets rallied on Thursday and closed 0.50%-0.60%
lower than Wednesday’s close. The trends of the major indices in the course of
Thursday’s trading are given in the table below: The Total Investment & Insurance Solutions
 |
Major Indices (The Total
Investment & Insurance Solutions)
Broadly
positive global indices and value buying, lifted the Indian equities markets on
Thursday. The key domestic indices closed with gains of more than half a per
cent each, as buying was witnessed in healthcare, automobile, and metal stocks.
The BSE market breadth was in favour of the bulls -- with 1,807 advances and
992 declines. On the NSE, there were 1,154 advances, 480 declines and 86
unchanged. The Total Investment & Insurance
Solutions
With
the Union Cabinet granting approval to the merger into the State Bank of India
(SBI) of its five associate banks, the public lender on Thursday said the
combined entity would have lower management costs resulting in savings on
operating costs. "Once merger is complete, we will be in a position to
save costs of these associate banks, because the structure of the five head
offices will fold into one corporate office of the SBI. The zonal offices will
also get integrated into our operations," SBI Managing Director DK Khara
told BTVi in an interview. "Lesser management costs of these offices will
get reflected in saving operating costs of banks. CASA (Current Account,
Savings Account) will go up. Lots of cost efficiency and capital efficiency
will come into play. It will save costs for banks, which will save resource
cost and prove advantageous," Khara said. He said that though there are no
plans to shut down branches, rationalisation of branches would take place --
meaning dedicated branches for small and medium entreprise (SME) lending,
servicing high net worth individuals (HNIs), among others. "It will create
much more value for customers," he added. The merged entity with the
one-fourth of the market share would have a balance sheet of about Rs40 lakh
crore, 23,000 physical branches and 22,000 ATMs, Khara said. Post-merger, a
shareholder will get 28 shares of SBI for every 10 shares of State Bank of
Bikaner and Jaipur (SBBJ). The legal entity of the associate banks will cease
to exist from the effective date of merger. State Bank of India shares closed
at Rs270.40, up 0.65% on the BSE. The Total
Investment & Insurance Solutions
Automobile
major Maruti Suzuki India on Wednesday launched its multi-purpose vehicle (MPV)
Ertiga Limited Edition priced between Rs7.85 lakh and Rs8.10 lakh (ex-showroom,
New Delhi). "The all-new features of Ertiga Limited Edition highlight the
company's focus on building a customer connect through product differentiation
while creating delight," RS Kalsi, Executive Director Marketing and Sales,
Maruti Suzuki India, was quoted as saying in a statement. The company has sold
over three lakh Ertiga MPV since its launch in 2012. Maruti Suzuki India shares
closed at Rs6,027.05, up 2.84% on the BSE. The
Total Investment & Insurance Solutions
Continuing
with the revival in exports for the fifth month in a row, Indian merchandise
shipments overseas at $22.12 billion in January 2017 registered an uptick of
4.32% over the $21.20 billion exported in January 2015, official data showed on
Wednesday. Imports during the month in consideration at $31.96 billion also
marked an increase of 10.70% over the $28.87 billion worth of imports in
January last year. Consequently, the trade deficit in January was higher at
$9.84 billion, as compared to the deficit of $7.67 billion during same month of
2016. "The growth in exports is positive for USA (2.63%), EU (5.47%) and
Japan (13.43%), but China has exhibited negative growth of (-1.51%) for
November 2016 over the corresponding period of previous year as per latest WTO
statistics," a Commerce Ministry release here said. Cumulatively for
the April-January period, exports rose marginally by 1.09% in dollar terms at
$220.9 billion, as against exports of $218.5 billion over the same period last
year. "Non-petroleum exports in January 2017 were valued at $19.42 billion
against $19.11 billion in January 2016, an increase of 1.6%," a statement
here said. Cumulative imports for April-January were worth more than $307.3
billion, which was a 5.81 per cent fall from the over $326.3 billion worth imports
recorded for the same period of the previous fiscal. With global oil prices
climbing back to nearly $55 a barrel, India's oil imports during January were
valued at $8.14 billion, which was a massive 61.07% jump over oil imports
valued at $5.05 billion in the corresponding month of 2016. Non-oil imports in
January were static, increasing by 0.01% to $23.82 billion, from $23.81 billion
in the same month of last year. The merchandise trade deficit cumulatively for
April-January, however, declined by 19.82% to $86.39 billion, as against $107.7
billion in the same period of 2015-16. As per Reserve Bank of India data on
Wednesday, services exports during December 2016 were valued at $13.80 billion,
while imports stood at 8.29 billion, resulting in a positive trade balance of
$5.5 billion. Export oriented companies are likely to maintain their bullish
trend on the stock exchange.
Tata
Steel workers in the UK on Wednesday voted robustly in favour of accepting
steel producer's proposal on pensions, jobs, investment and production. As many
as 72.1% of the members who turned out for votes from Community and 75.6% from
Unite and 74% of the third union, GMB, voted for the rescue plan. "This
result provides a mandate from our members to move forward in our discussions
with Tata and find a sustainable solution for the British Steel Pension Scheme
(BSPS)," said Roy Rickhuss, General Secretary of Community. "Steel
workers have taken a tough decision and have shown they are determined to
safeguard jobs and secure the long-term future of steelmaking. Nobody wanted to
be in this situation, but as we have always said, it is vital that we now work
together to protect the benefits already accrued and prevent the BSPS from
free-falling into the PPF," he added. Tata Steel shares closed at
Rs469.80, up 2.11% on the BSE. The Total
Investment & Insurance Solutions
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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