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11
April 2017
I had
mentioned in Monday’s closing report Nifty, Sensex continues to struggle in the
short-term. The major indices of the Indian stock markets ended with gains on
Tuesday, backed by solid gains in FMCG, IT and banking stocks. The trends of
the major indices in the course of Tuesday’s trading are given in the table
below: The Total Investment
& Insurance Solutions
 |
Major Indices (The Total
Investment & Insurance Solutions)
Breaking
the three day falling streak, markets close in green, with S & P BSE Sensex
rising by 213 points and Nifty ending above the 9200 mark. ITC was the
leading contributor to the gains of both Sensex and Nifty, rising by over 3%,
followed by Infosys, ICICI bank and Power Grid Corporation of India. The Total Investment & Insurance Solutions
Goodluck
India rose 4.11% after the company announced that it is coming up with new
manufacturing facility for its existing line of business in Gujarat. The
announcement was made after market hours yesterday, 10 April 2017.The company's
existing manufacturing capacity of steel tubes, pipes and precision tubes is
2.30 lakh MTPA and it is running at optimal capacity utilization. The proposed
manufacturing facility will add about 72,000 MTPA to the company's total
production capacity, Goodluck India said.
Among
public sector banks, Punjab National Bank (up 3.94%), Bank of India (up 2.71%),
Bank of Baroda (up 2.11%), State Bank of India (up 1.63%), IDBI Bank (up 1.26%)
and Indian Bank (up 1.18%) moved higher. Among private sector banks,
ICICI Bank (up 1.89%), Yes Bank (up 0.85%), Axis Bank (up 0.57%), Kotak
Mahindra Bank (up 0.55%) and HDFC Bank (up 0.38%) edged higher. RBL Bank (down
2.29%) and IndusInd Bank (down 0.13%) edged lower.
The
shares of Reliance Power was up 1% as the company signed agreements with
Bangladesh Power Development Board (BPDP) for phase I of 750 MW LNG based
combined cycle power project at Meghnaghat near Dhaka in Bangladesh. Suzlon
Energy rose 1.55% after the company said it has won a repeat order of 50.40
megawatts (MW) wind power project in Karnataka from a leading independent power
producer (IPP) company. The project will be completed by June 2017. Suzlon will
execute the entire project on a turnkey basis and will also provide operation
and maintenance services. The announcement was made after market hours
yesterday, 10 April 2017. Shares of Tata Power and Adani Power came under heavy
selling pressure on Tuesday after Supreme Court set aside Appellate Tribunal
for Electricity (APTEL) order of compensatory tariff to these companies. The Total Investment & Insurance Solutions
The
appreciation in the rupee is likely to continue for some time and it is
expected to average at 66.2 against the US dollar in the current financial
year. Since the start of this year, the rupee has had a steady appreciation in
line with other emerging market currencies, Kotak Institutional Equities said
in a research note.It said the India rupee (INR) has outperformed most of the
emerging market pack as, in addition to global ones, domestic factors like
strong political mandate for BJP in UP elections, passage of GST bill and a
hawkish RBI stance have boosted the rupee. The
Total Investment & Insurance Solutions
Riddled
with crippling debt and a tough operating environment, telecom companies have
been laying off employees over the last six months. While bigger players like
Bharti Airtel and Vodafone India are managing to cut losses through
consolidation, it is the smaller companies that are suffering the most.
According to CNBC-TV18 report, nearly 3400 job losses have been reported in the
last six months by telcos to cut down on costs and support falling margins.The
head-finance of Asian Granito, Himanshu Shah, in an interview spoke that the
promoters of the company has acquired 5% stake in open market in the fourth
quarter. 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
BSE was breadth was bullish today, there were 1724 advances, 1153 declines and
144 unchanged. On NSE, there were 936 advances, 554 declines and 58
unchanged.
Overseas,
European and Asian stocks declined as rising tensions in the Middle East and
political uncertainty in Europe kept investors on edge, underpinning safe assets
such as the yen, gold and treasuries. The upcoming French presidential election
and the heightened tensions in the Middle East following the US strikes on
Syria have left investors nervous even as a raft of global data over recent
months have pointed to a steadily improving global economy.
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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