Contact Your Financial Adviser Money Making MC
19
April 2017
I have
mentioned in Tuesday’s closing report that Nifty, Sensex may rally. The major
indices of the Indian stock markets the day on a rather positive note, after a
continuous red streak of four days. The trends of the major indices in the
course of Wednesday’s trading are given in the table below: The Total Investment & Insurance
Solutions
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Major Indices (The Total
Investment & Insurance Solutions)
Key
benchmark indices settled almost unchanged amid mixed trend on the bourses
after a listless and rangebound session. The barometer index, the S&P BSE
Sensex closed with small gains while the Nifty settled with tiny losses. The
Sensex rose 17.47 points or 0.06% to settle at 29,336.57. The BSE market
breadth was positive today – 1563 advances, 1278 declines and 166 unchanged. On
NSE, there were 941 advances, 730 declines and 84 unchanged. The Nifty 50 index
declined 1.65 points or 0.02% to settle at 9,103.50. The Sensex snapped
four-day losing streak today, 19 April 2017 while Nifty fell for the fifth
straight day. Nifty hit lowest closing level in more than three weeks. The Total Investment & Insurance Solutions
IndusInd
Bank shed 0.63% after announcing Q4 results. The bank's net profit rose 21.16%
to Rs 751.61 crore on 22.36% increase in total income to Rs 5041.31 crore in Q4
March 2017 over Q4 March 2016. The net profit rose 25.43% to Rs 2867.89 crore
on 22.47% increase in total income to Rs 18577.16 crore in the year ended March
2017 over the year ended March 2016.
Technology
stocks were under pressure after the US President Donald Trump signed an executive
order for a review of the H-1B visa programme, saying they should never be used
to replace American workers. Muted earnings by TCS also dented sentiment. TCS
and Infosys declined over 0.3% each while Wipro gained 0.8%. Coal India gained
more than a percent as Motilal Oswal has upgraded the stock to buy with
increased target price at Rs 335 (implying 20% upside), citing strong earnings
growth and attractive dividend yield.
TCS
was down 0.3% after consolidated net profit fell 2.5% to Rs 6608 crore on 0.3%
decline in revenue to Rs 29642 crore in Q4 March 2017 over Q3 December 2016.
The result was announced after market hours yesterday, 18 April 2017.
Commenting on the company's performance in FY 2017, Rajesh Gopinathan, CEO and
MD, TCS, said, FY17 was a year of broad-based growth amidst economic and
political turbulence in the company's key markets. The company has added $1.4
billion dollars in constant currency revenues during the year and increased its
digital revenues sharply as it helped its customers leverage the digital
economy, he said. Gopinathan added that on the back of digital adoption, Agile,
Automation and Cloud are the themes that the company is going to market to
drive efficiencies and predictable outcomes across its clients infrastructure,
applications and business operations.
Meanwhile,
India is pegged to be the fastest growing economy in the world in 2017-18 and
will be a key driver for global growth, according to the International Monetary
Fund (IMF) said yesterday, 18 April 2017. Retaining its growth forecast of 7.2%
for India for the fiscal year 2018, the IMF, in its World Economic Outlook,
also estimated that India would grow at 7.7% in 2018-19 and said that 8% growth
in the medium-term is within reach. It pegged India's growth rate at 6.8% in FY
2017. 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)
Overseas,
European shares were trading higher as a rebound in basic resources stocks and
some positive first-quarter results outweighed weakness in oil and gas stocks.
Asian stocks edged lower after British Prime Minister Theresa May's surprise
decision to hold early elections. May called for an early general election in
June, reversing her earlier stance, in hopes of securing a stronger
parliamentary mandate for Britain's formal exit from the European Union.
Meanwhile, Theresa May will today, 19 April 2017 ask the House of Commons to
support her call for a June general election. 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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