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4
May 2017
I had
mentioned in Wednesday’s closing report that Nifty, Senses were still
range-bound. The major indices of the Indian stock markets made a small rally
on Thursday and closed with minor gains over 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)
Indian
equity markets cheered the decisions of the Cabinet Committee on Economic
Affairs and traded on a buoyant note during the mid-afternoon trade session on
Thursday. Banking stocks witnessed a surge of around 500 points or 2% after the
cabinet, at a meeting chaired by Prime Minister Narendra Modi on Wednesday
night, approved an ordinance to amend the Banking Regulation Act to tackle the
mounting non-performing assets (NPAs) of public sector banks. Investors'
sentiments got a filip after the cabinet approved the National Steel Policy,
2017, along with other major decisions. According to market observers, the US
Federal Reserve's decision to keep key interest rates unchanged also boosted
investors' sentiments. On the NSE, there were 784 advances, 735 declines and 79
unchanged. The BSE market breadth was bullish -- with 1,374 advances and 1,287
declines. The Total Investment & Insurance
Solutions
Entering
the lucrative mango drinks market with its 'Slurp' brand, dairy major Parag
Milk Foods Ltd. will take the brand to the national level soon, a top company
official said on Thursday. "We will take the product nationally after
seeing public response to the product in Chennai, Mumbai, Delhi and
Kanpur," company Chairman Devendra Shah told reporters here while
launching the product. Parag Milk manufactures a range of dairy products and
had earlier entered the beverages segment with its flavoured milk. According to
Shah, the company has identified the beverages segment as the growth driver.
According to Mahesh Israni, Chief Marketing Officer, the Indian fruit drink
market is worth over Rs10,000 crore and the mango-based drink market is the
largest in the segment. The company’s shares closed at Rs237.00, down
0.11% on the BSE.
India's
services sector, which continued to expand for the third successive month in
April, registered the lowest reading during the three-month period. The Nikkei
India Services Purchasing Managers' Index (PMI) stood at 50.2 in April, down
from 51.5 in March and compared to 50.3 in February. An index reading of
above 50 indicates an overall increase, while below 50 an overall decrease.
"April PMI data for the Indian service sector show how jittery the current
economic environment is, igniting concerns among some businesses, despite
remaining in growth territory. Slower and only marginal increases in new work
and activity were seen, with these indicators close to the stagnation
mark," said Pollyanna De Lima, economist at IHS Markit and author of the
report. Firms were cautiously optimistic towards future performance, and have
been so for a while, pointed out the analyst. Some of the sectoral indices in
the Indian stock markets are likely to be bearish for medium term investors in
this context.
The
top gainers and top losers of the major indices are given in the table below:
 |
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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