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9
June 2017
I had mentioned in last week’s closing report that Nifty, Sensex were continuing to head higher. The major indices of the Indian stock markets were range-bound during the week’s trading and ended flat in comparison with last Friday’s close. The trends of the major indices in the course of the week’s trading are given in the table below: .The Total Investment & Insurance Solutions
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| Weekly Indices (The Total Investment & Insurance Solutions) |
Despite trading on a cautious note, the key Indian equity indices on Monday scaled fresh highs during intra-day trade, as buying was witnessed in consumer durables, oil and gas, and capital goods stocks. The NSE Nifty rose to a new high of 9,687.20 points and the Sensex that of 31,355.42 points intra-day. Market observers pointed out that investors were cautious ahead of the Reserve Bank of India's (RBI) two-day monetary policy review that begins on Tuesday. On the NSE, there were 758 advances, 608 declines and 65 unchanged. On the BSE, there were 1,434 advances, 1,243 declines and 187 unchanged. The market trend was bullish and there were new intra-day highs that were reached for the major indices. But the major indices closed with minor gains, as investors were largely waiting for the RBI policy decision. .The Total Investment & Insurance Solutions
With the Goods and Services Tax (GST) rate fixed at 3% for gold, stocks of gems and jewellery companies like PC Jeweller, Titan, Tribhovandas Bhimji Zaveri (TBZ), Gitanjali Gems and Tara Jewels shone and hit fresh highs on Monday. With the implementation of GST, compliance level will increase which will benefit the organised sector against the unorganised sector. So the surge in prices is factoring better-than-expected tax rate and level playing field for organised sector against the unorganised sector, pointed out market analysts. Titan shares closed at Rs552.40, up 16.97% on the BSE.
Jet Airways said that it has deployed its flagship Boeing 777 jetliner to operate the daily flights between Delhi and Singapore. "The state-of-the-art aircraft, with its three-class configuration commenced operating on the sector effective today (Friday)," the airline said in a statement. "Jet Airways has seen an increase in air traffic between Delhi, Singapore and beyond to Asean region." The airline added that the Boeing 777 jetliner provides it with more flexibility in transporting various types of consignments, including perishables, pharmaceuticals, machinery and industrial goods between Delhi and Singapore. The company’s shares closed at Rs497, up 2.57% on the BSE, on Monday.
On Tuesday, Indian stocks declined the most in over a week as investors held back their bets ahead of the central bank’s policy decision due Wednesday. The S&P BSE Sensex fell nearly 0.4% to 31,190, while the NSE Nifty 50 index too dropped 0.4% to 9,637. Earlier, the 50-share benchmark managed to open above the 9,700-mark for the first time ever. The market breadth turned in favour of the bears by the end of trade. About 5 stocks declined to every 1 that gained on the NSE. BSE Mid-cap Index closed down 0.6% at 14732 whereas, BSE Small-cap Index closed down by 0.6% at 15310. There were 527 advances, 1,107 declines and 320 unchanged stocks on NSE, reflecting fairly bearish undertone floating in the market. .The Total Investment & Insurance Solutions
The Indian equity markets traded on a flat note during the mid-afternoon session on Wednesday as investors were cautious ahead of the outcome of the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) meet due later in the day. However, a better-than-expected monsoon forecast by the India Meteorological Department (IMD), coupled with healthy buying in healthcare, consumer durables and automobile sectors, kept market sentiments buoyed. Auto, FMCG (fast moving consumer goods) and healthcare stocks shone, whereas IT (information technology) sector traded in negative after Tuesday's positive movement, pointed out market analysts. On the NSE, there were 868 advances, 608 declines and 76 unchanged. On the BSE, there were 1,465 advances, 1,191 declines and 147 unchanged.
The Monetary Policy Committee (MPC) in its second review for FY2017-18 on Wednesday kept all key policy rates unchanged while seeking to achieve consumer price index (CPI) inflation of 4%. The repo rate under the liquidity adjustment facility (LAF) would remain at 6.25%, while reverse repo rate would be at 6%. The marginal standing facility (MSF) rate and the bank rate would be steady at to 6.50%. The major indices closed quietly at the end of trading on Wednesday with small gains.
Weak global cues and selling pressure in oil and gas, IT (information technology) and consumer durables stocks pulled the Indian equity markets lower to trade on a flat-to-negative note during the mid-afternoon session on Thursday. According to market observers, investors were cautious ahead of election in Britain and European Central Bank's policy review (due later during the day). On the NSE, there were 711 advances, 710 declines and 50 unchanged. .The Total Investment & Insurance Solutions
IT stocks continued to trade weak with the sector trading with loss of more than 1%. Consumer durables, capital goods and FMCG (fast moving consumer goods) sectors were trading in negative, whereas healthcare and metal sectors were trading in the green, up by more than 1%. Dr Reddy's Lab, Sun Pharma and HDFC were the top gainers on the BSE, while Gail, Tata Consultancy Services (TCS) and Hero MotoCorp were the top losers. The farmers’ agitation entered its eighth day on Thursday in Madhya Pradesh. The peasants have been on strike since June 1, demanding loan waiver and fair price for their produce. .The Total Investment & Insurance Solutions
The Indian equity markets on Friday traded on a flat-to-negative note during the mid-afternoon session as investors remained cautious amidst global cues. IT (information technology), FMCG (fast moving consumer goods) and consumer durables stocks faced selling pressure. US markets closed higher after Wall Street digested former FBI (Federal Bureau of Investigation) Director James Comey's testimony. Asian markets however, traded flat. The European Central Bank did not announce any policy changes on Thursday when it met in Tallinn, Estonia. And it made only small changes to its forward guidance.
In India, sectoral indices led by IT, Teck, consumer durables, auto, realty, healthcare and banking stocks traded in the negative zone. However, Maruti Suzuki hit a fresh record high intra-day, after a media report indicated that the company plans to spend Rs1,000 crore in land acquisition this year. Maruti Suzuki shares closed at Rs7,451.00, up 3% on the BSE. ITC, Infosys and Wipro were among the top losers on the BSE. Finally, the major indices closed with small gains on Friday over Thursday’s close.The Total Investment & Insurance Solutions
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