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25
May 2017
I had mentioned in Wednesday’s closing report
that Nifty might find support at 9,400. The major indices of the Indian stock
markets rallied on Thursday and closed with gains of around 1.50% 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)
The Indian equity markets on Thursday traded
with gains on the back of positive global cues, a strong rupee and healthy
buying in capital goods, banking and IT (information technology) stocks. The
key indices traded with substantial gains on the day of expiry of May futures
and options (F&O) contracts. Equity benchmark indices started off the last
trading session of the current month expiry on a firm note, tracking positive
global cues and appreciation of the rupee against the US dollar. Both the
indices witnessed some recovery in early trades. Banking stocks are currently
witnessing strong buying support with shares of SBI (State Bank of India), Yes
Bank and ICICI Bank trading with over 1% intra-day gains. IT, auto and realty
sector stocks are currently supporting the recovery in Indian equity markets,
pointed out market analysts. On the NSE, there were 1,124 advances, 320
declines and 68 unchanged. The BSE market breadth was bullish -- with 1,878
advances and 804 declines. The Total Investment & Insurance Solutions
China
will increase imports from the US in wide-ranging areas including agricultural
products, energy and high-tech equipment, the Ministry of Commerce (MOC) said
on Thursday. In a research report on China-US Economic and Trade Relations, the
MOC noted the growth potential in US exports as China's total imports are
expected to reach $8 trillion in the coming five years, which will bring more
opportunities for US companies, Xinhua news agency reported. South Korea's
central bank on Thursday froze its benchmark interest rate at the record-low
level of 1.25% in its first rate-setting meeting under the new government. Bank
of Korea (BOK) Governor Lee Ju-yeol and six other policy board members decided
to keep the seven-day repurchase rate on hold at an all-time low of 1.25%,
Xinhua news agency reported.
Adani
Ports and Special Economic Zone (APSEZ) on Wednesday reported an increase of
27% in its consolidated net profit for the fourth quarter (Q4) of 2016-17.
According to the company, its consolidated net profit during the quarter under
review increased to Rs1,179 crore from Rs928 crore in the corresponding period
of 2015-16. APSEZ's consolidated revenue during the quarter under review rose
by 18% to Rs2,231 crore. "This is one of our best all round performance.
Our strategy to diversify our cargo mix and focus on high value cargo continues
to yield positive results," said Karan Adani, Chief Executive Officer and
Whole Time Director of APSEZ. On a full financial year 2016-17 basis,
Asian Paints reported a 35% increase in its consolidated net profit to Rs3,920
crore from Rs2,914 crore in 2015-16. The company's consolidated group revenue
during the fiscal under review increased by 19% to Rs8,439 crore. The
company’s shares closed at Rs340.75, up 0.21% on the BSE.
Electric
vehicles (EV) manufacturer Mahindra Electric on Wednesday unveiled its
comprehensive technology and product road map -- EV 2.0 -- under which it plans
to ramp up manufacturing and charging infrastructure. According to the company,
under EV 2.0 it will make investments to develop new, high-end electric
powertrains, motor controllers, systems integration and battery technology. The
company which is a part of $17.8 billion Mahindra Group, had acquired the
Bengaluru based Reva Electric Car Company in 2010. Mahindra & Mahindra
closed at Rs1,334.70, up 2.08% on the BSE.
The
GST regime will be a game changer for real estate sector and the 12% GST on
construction projects meant for sale to buyers will boost the sector, National
Real Estate Development Council (NAREDCO) said on Wednesday. "The GST will
be a game changer for industry, including for real estate sector, since it will
subsume more than 16 major taxes and levies into a single consolidated
tax," NAREDCO President Parveen Jain said. Additionally, he said,
the unified tax regime will stop the unwanted practice of double taxation,
which hurt real estate and other sectors, given their cascading effect which
inflated prices for end-users. The S & P BSE Realty Index closed at
1,967.65, up 2.01% on the BSE.
Shares of pharma major Lupin hit a 33-month
low on Thursday after plunging nearly 10% on reports that the company has
received six USFDA Form 483 observations for its Indore plant. The plant
was inspected by the US drug regulator between May 8 and May 19. Lupin shares
closed at Rs1,137.95, down 7.31% on the BSE. The Total Investment & Insurance
Solutions
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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