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5
June 2017
I had
mentioned in Friday’s closing report that Nifty, Sensex were continuing to head
higher. The major indices of the Indian stock exchanges closed with minor gains
over Friday’s close. The trends of the major indices in the course of Monday’s
trading are given in the table below: The
Total Investment & Insurance Solutions
 |
Major 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
Reserve Bank of India's monetary policy review, along with the finalised Goods
and Services Tax (GST) sub-rates and the last of quarterly results are expected
to affect the movement of key stock markets during the week’s trading. Market
analysts observed that other major themes like news on monsoon progress, global
geopolitical situation and crude oil prices would impact investors' risk-taking
appetite in the highly expensive market environment. Some profit-booking is
being expected and markets may witness some shallow correction; however, the
trend in both the short- and medium-term remains positive, forecast market
analysts. Banking sector stocks would be in focus with the RBI's credit policy
scheduled on the 7th of June.
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. The Total Investment & Insurance Solutions
The
price of oil gained over 1%, while stock prices in the Gulf retreated across
the board after Saudi Arabia, the UAE, Bahrain, Egypt and Yemen cut diplomatic
ties with Qatar on Monday. In Doha, the Qatar Exchange Index plummeted 7.94% to
hit 9,135, marking an 18-month low. Media reports indicated that all UAE
airlines, including budget flyer FlyDubai and Etihad from Abu Dhabi, will stop
flying to Qatar from Tuesday. The Bahraini All-Share Index bucked the regional
slump and gained 0.58%. The Total Investment
& Insurance Solutions
Airtel
Business, the business-to-business arm of Bharti Airtel, has rolled out a
dedicated digital platform to serve the growing connectivity, communication and
collaboration requirements of emerging businesses, including small and medium
enterprises (SME) and start-ups, a company statement said on Monday.
"Emerging enterprises are a key growth driver for the economy. Airtel,
with its nationwide reach and enterprise solutions, is uniquely positioned to
address the needs of the segment. Our new digital platform will help the
enterprises get quick and easy access to our connectivity solutions, resulting
in a speedier deployment and business scale up for them," said Ashok
Ganapathy, Director & CEO, Airtel Business. With growing digitisation,
emerging businesses are looking at connectivity solutions that are available/
activated in quick time and are highly reliable and scalable as per their
requirements. Airtel Business aims to address the needs of this segment with
its wide product portfolio that is already serving some of the largest
businesses in the country, the statement said. Bharti Airtel shares closed at
Rs371.30, down 0.50% on the BSE. The Total
Investment & Insurance Solutions
Software
major Tech Mahindra has been recognised as a global engineering and R&D
services provider based on the comprehensive assessment of its 'Design to Build
Engineering' capabilities by management consulting firm Zinnov, the company
said on Sunday. The study titled 'Zinnov Zones - Product Engineering Services
(PES) 2016' placed Tech Mahindra Integrated Engineering Solutions (IES) in the
'Leadership Zone' in seven industries -- such as aerospace, automotive,
telecom, industrial, energy and utilities, transportation, and consumer
electronics -- and 'Expansive and Established' zone for two horizontals --
Mechanical Engineering Services and Embedded Systems. "We are delighted to
be recognised as a leader among global engineering players. The ratings are
testimony of our ability to integrate design, styling, new age customer
experience through design thinking approach and help transform our customers as
a product engineering partner," said Karthikeyan Natarajan, Global Head
(Engineering, IoT and Enterprise Mobility), Tech Mahindra. The company’s
shares closed at Rs402.65, up 0.74% 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. 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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