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30
May 2017
I had
mentioned in our Monday closing report that Nifty, Sensex might struggle to
head higher. The major indices of the Indian stock markets were range-bound on
Tuesday and closed with marginal gains over Monday’s close. The trends of the
major indices in the course of Tuesday’s trading are given in the table below: The Total Investment & Insurance
Solutions
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| Major Indices (The Total Investment & Insurance Solutions) |
The
Indian equity markets traded on a flat-to-positive note during the early
morning trade session on Tuesday, as gains were capped by broadly negative
Asian markets, along with a weak rupee. The key Indian equity indices closed at
new highs on Tuesday aided by buying in healthcare, banking and automobile
stocks. The 30-scrip Sensitive Index (Sensex) of the BSE closed at 31,159.40
points -- a new closing high -- up 50.12 points or 0.16%, after scaling a new intra-day
high of 31,220.38 points. The wider 51-scrip NSE Nifty provisionally closed at
a new high of 9,624.55 points -- up 19.65 points or 0.20%. On the NSE, there
were 666 advances, 808 declines and 54 unchanged. The BSE market breadth,
however, was bearish -- with 1,454 declines and 1,224 advances. The Total Investment & Insurance Solutions
Around
8.50 lakh retail chemists, druggists and pharmacies on Tuesday went on a
daylong strike all over India in support of their various demands, said All
India Organisation of Chemists and Druggists (AIOCD) President Jagannath
Shinde. A total 8.50 million employees are directly involved in the retail
pharmacy business, he said adding that 72,000 of the striking retailers are
from Maharashtra. The strike is in protest against the government's decision to
make e-portal registration for chemists-druggists mandatory, including
uploading all details of medicine sales, etc, and to press for long-pending
demands of the industry, Shinde said. The S & P BSE Healthcare Index closed
at 13,517.81, up 2.28% on the BSE.
Civil
Aviation Minister Ashok Gajapathi Raju on Tuesday said his ministry will fully
cooperate with a CBI probe into alleged corruption and mismanagement that led
to the financial crisis in the national carrier Air India. "We will fully
cooperate with the CBI on this," Raju said replying to a question during a
press interaction. The Minister's response came a day after the Central Bureau
of Investigation (CBI) registered three cases against unnamed officials of the
Ministry and Air India. The case involves the purchase of 111 Boeing aircraft
worth Rs70,000 crore and alleged corruption in handing over international
airline routes to private airlines during the UPA regime. The S & P BSE PSU
Index closed at 8,673.71, up 0.46% on the BSE.
Hotels
and restaurants across Tamil Nadu downed shutters on Tuesday in protest against
the levy of 12%-28% Goods and Services Tax (GST) which they said will affect
tourism in the state. However, small and roadside eateries functioned as usual.
The dawn-to-dusk (6 a.m. to 6 p.m.) shutdown call was given by the Tamil Nadu
Hotels and Restaurant Association and is supported by the South India Hotels
and Restaurants Association (SIHRA). The S & P BSE Consumer Discretionary
Goods & Services Index closed at 3,641.09, up 0.43% on the BSE.
State
miner Coal India posted a 38% fall in net profit for the fourth quarter ended
March at Rs2,716 crore caused by lacklustre power demand, falling realisations
from e-auctions and efforts to keep prices below international levels. The
company had posted a profit of Rs4,398 crore in the same period of last year.
For the full fiscal 2016-17, the company's net profit fell 35% to Rs9,266
crore, from Rs14,268 crore in the previous fiscal. Coal India's revenue from
operations in the quarter, however, increased by 8.6% to Rs24,780 crore, from
Rs22,813 crore in the same period a year ago. During the quarter in
consideration, provisioning of Rs1,239 crore increased total expenses by 23% to
Rs22,358 crore, Coal India said in a stock exchange filing. Revenue during the
year remained static at Rs83,808 crore, while expenses rose 10% to Rs74,890
crore. During the fiscal, the state miner offered 94.23 million tonnes of coal
for e-auction as against 56.31 mt during 2015-16. Coal India shares closed at
Rs267.10, down 0.21% on the BSE, on Tuesday. The Total Investment & Insurance Solutions
State
owned oil marketing company BPCL reported a decline of 12.96% in its net profit
for the fourth quarter (Q4) of 2016-17. According to the OMC (oil marketing
company), its net profit during the quarter under review declined to Rs1,841.68
crore from Rs2,116.03 crore reported in the corresponding period of 2015-16.
However, the Q4 standalone total income of the company edged higher by 24.17%
to Rs66,685.61 crore from Rs53,704.43 crore earned in the corresponding period
of previous fiscal. On a full financial year 2016-17 basis, BPCL reported that
its consolidated net profit edged higher by 17.53% to Rs9,506.97 crore from
Rs8,088.87 crore earned in the corresponding period of the previous fiscal.
BPCL shares closed at Rs738.00, down 2.38% on the BSE, on Tuesday. 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
 |
Asian Indices (The Total
Investment & Insurance Solutions)
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