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10
April 2017
I have
mentioned in Friday’s closing report that Nifty, Sensex may remain under
pressure. The major indices of the Indian stock markets were range-bound and
made minor loses 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
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| Major Indices (The Total Investment & Insurance Solutions) |
Indian
Equity markets on Monday, closed in red for the third consecutive session due
to lack of any major triggers and apprehensions about the March quarter
results. The S & P BSE Sensex ended 131 points lower, at 29575.74, with
Infosys (-2.88%), Reliance Industries (-1.74%) and HDFC being the major
contributors to the fall. The broader Nifty 50 Index closed below the 9200
levels, at 9181.45. The Total
Investment & Insurance Solutions
Tata
Motors rose 1.51% after the company said group global wholesales including
Jaguar Land Rover rose 9% at 1.29 lakh units in March 2017 over March 2016.
Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range
fell 6% at 42,596 units in March 2017 over March 2016. The Total Investment & Insurance Solutions
Global
wholesales of all passenger vehicles rose 19% at 87,355 units in March 2017
over March 2016. Global wholesales for Jaguar Land Rover (JLR) were 71,609
vehicles. (JLR number for
March
17 includes CJLR volumes of 7,158 units). Jaguar wholesales for the month were
20,492 vehicles while Land Rover wholesales for the month were 51,117 vehicles.
The announcement was made during market hours today, 10 April 2017.
United
Spirits, Radico Khaitan, GM Breweries, Globus Spirits, Tilaknagar Industries
and United Breweries were down 3-7 percent after Madhya Pradesh Chief Minister
Shivraj Singh Chouhan decided to shut down all liquor across the state in a
phased manner. Marksans Pharma spiked 7% after the US FDA issued four
observations, which are procedural in nature, for Goa unit inspected from April
3-7. The Total Investment & Insurance
Solutions
Infosys
dropped 2.88% at Rs 952.95 on expectations of single digit growth in top line
in Q4 March 2017. The reasons for continuing with a single digit growth are H1B
visa restrictions by US President Trump administration, and company's business
transition to digital and cloud, as per reports. The bottlenecks in growth
would be the pricing pressure, delay in revenue contribution from newly
transited business, and more employee expenses from domestic hiring, reports
suggested. The company will announce Q4 results on Thursday, 13 April 2017.
The
top gainers and top losers of the major indices are given in the table below:
 |
Top Gainer (The Total
Investment & Insurance Solutions)
Meanwhile,
European markets were under pressure amid increased geopolitical risks as
investors digested the US missile attack in Syria last week. Asia ended mixed.
The BSE market breadth was marginally was bullish with 1735 advances, 1178
decline and 156 unchanged. Similarly, on NSE, there were 998 advances, 681
declines and 95 unchanged. 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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