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June 2017
I had
mentioned in Wednesday’s closing report that Nifty, Sensex were looking toppy.
The major indices of the Indian stock markets were range-bound on Thursday and
ended flat compared to 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 closed on a flat-to-negative note on Thursday as
disappointing macroeconomic data and a weak rupee eroded investors' risk-taking
appetite. On the NSE, there were 849 advances, 664 declines and 80
unchanged. The Total Investment
& Insurance Solutions
India's
manufacturing sector output slowed down last month due to a softer expansion in
new orders and production, a key macro-economic data showed on Thursday. The
Nikkei India Manufacturing Purchasing Managers' Index (PMI), which is a
composite indicator of manufacturing performance stood at 51.6 from the index
reading of 52.5 reported in April 2017. An index reading of above 50 indicates
an overall increase in economic activity and below 50 an overall decrease. “The
upturn in the Indian manufacturing sector took a step back in May, with softer
demand causing lower expansions in output and the amount of new work received
by firms. Moreover, there was a renewed decline in new export orders,"
said Pollyanna De Lima, economist at IHS Markit and the author of the report.
The negative news from the macroeconomic front depressed investor sentiments
further.
Commercial
vehicles major Ashok Leyland Ltd on Thursday said its sales in May were down by
8%. In a statement here, Ashok Leyland said it sold 9,071 units last month,
down from 9,875 units sold during May 2016. While the sales of medium and heavy
commercial vehicles slid down 18 per cent, sales of light commercial vehicles
went up by 22% in May as compared to sales numbers logged in May 2016, the
company said. The company’s shares closed at Rs91.25, down 3.44% on the BSE.
There
will be a 2% drop in the Indian government's IT (information technology)
spending this year due to demonetisation and a drop in industrial production,
market research firm Gartner said on Thursday. The government is forecast to
spend $7.8 billion on IT in 2017 -- a 7.5% increase from 2016. However, this is
down from Gartner's projection of 9.5% growth this year. "The 2% revision
in our outlook is primarily due to the effects of demonetisation and a drop in
industrial production," Moutusi Sau, principal research analyst at
Gartner, said in a statement. "However, spending plans like affordable
housing scheme and increased loans to small and medium enterprises by the
government are likely to have a positive effect on IT spending in the next few
quarters," Sau added. The S & P BSE Information Technology Index
closed at 10,232.03, down 0.02% on the BSE. The Total Investment & Insurance Solutions
Automobile
major Maruti Suzuki India on Thursday reported a rise of 11.3% in its monthly
sales for May 2017. According to the company, its total sales during the month
under review rose to 136,962 units from 123,034 units sold during the
corresponding month of 2016. Maruti's domestic sales edged higher by 15.5% to
130,676 units from 113,162 units. However, exports plunged by 36.3 per cent
with only 6,286 units shipped out during May 2017, down from 9,872 units sold
abroad in the like period of 2016. Segment-wise, sales of passenger cars were
higher by 8.7% to 95,047 units against 87,402 units during May 2016. The
company's passenger car segment comprises of brands like Alto, WagonR, Swift,
Ritz, Celerio, Ignis, Baleno, Dzire, Dzire Tour, and Ciaz. Besides, sales of
Maruti's utility vehicles -- brands like Gypsy, Ertiga, S-Cross and Vitara Brezza
-- exponentially increased by 66.3 per cent to 22,608 units. The off-take in
the van segment which include brands Omni and Eeco increased by 3.5% to 12,593
units. The company’s shares closed at Rs7,143.75, down 0.99% on the BSE.
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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