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12
July 2017
I had
mentioned in Tuesday’s closing report that Nifty, Sensex might move sideways.
The major indices of the Indian stock markets were range-bound on Wednesday and
closed with small gains over Tuesday’s close. The trends of the major indices
in the course of Wednesday’s trading are given in the table below: The Total Investment & Insurance
Solutions
 |
Major Indices (The Total
Investment & Insurance Solutions)
Expectations
of robust quarterly results, along with buying in energy sector stocks pushed
the Indian equity markets higher on Wednesday. According to market observers,
gains were capped due to investors' reluctance to further invest in expensive
market conditions and caution over the upcoming macro-economic inflation and
industrial production data points.
Key
Indian equity indices were trading flat in the afternoon session on Wednesday.
India's annual retail inflation eased to a record low of 1.54% during June,
while the country's factory output growth also slowed to 1.7% in May, official
data showed on Wednesday. As per data released by the Central Statistics Office
(CSO) on Consumer Price Index (CPI), retail inflation was dragged lower by a
sharp fall in prices of food items like pulses, vegetables and other
perishables. The current inflation rate is the lowest since the series began in
2012. The June retail inflation rate fell when compared with May, when it prevailed
at a higher rate of 2.18%. On a year-on-year (YoY) basis, the country's June
retail inflation was lower from 5.77% CPI rate reported for the corresponding
month of last year. The other key macro-economic data -- Index of Industrial
Production (IIP) -- released by the CSO showed that on a sequential basis, the
output rose slower than the revised estimates for April 2017. The growth
estimates for April 2017 were revised to 2.79% from 3.1%.
Provisional
data with the exchanges showed that foreign institutional investors (FIIs)
bought stocks worth Rs 361.25 crore while domestic institutional investors
(DIIs) divested Rs330.58 crore. Hindustan Unilever, ONGC, ACC and Bharti
Infratel gained the most on both indices, while Mahindra and Mahindra as well
as TCS were the top losers. Oil and gas sector's stocks gained the most
followed by auto, telecom, bank, capital goods, whereas IT (information
technology) stocks ended in the red. The Total
Investment & Insurance Solutions
Lending
major IndusInd Bank on Tuesday reported a rise of 26% in its net profit for the
first quarter (Q1) of 2017-18. According to the lending major, its net profit
during the quarter under review rose to Rs836.55 crore from Rs661.38 crore
reported for the corresponding period of last fiscal. The Total Investment & Insurance Solutions
"The
quarter saw the momentum of the economy gradually picking up as the process of
remonetisation moved towards completion," Romesh Sobti, MD and CEO,
IndusInd Bank was quoted as saying in a statement. "With consumption
activity slowly picking up, there is a sustained rise in credit uptake. Against
the challenging environment, the bank has shown consistent performance, riding
on the positive sentiment in the economy." Beside, IndusInd Bank reported
that its net interest income (NII) for Q1 augmented by 31% to Rs1,774.06 crore
from Rs1,356.42 crore in the corresponding quarter of the previous year. Net
Interest Margin (NIM) for the current quarter is 4.00 per cent as against 3.97%
in the corresponding quarter of the previous year, the statement said. Net NPA
(non-performing asset) as on June 30, 2017 is at 0.44% as against 0.38% on June
30, 2016. IndusInd Bank shares closed at Rs1,572.70, up 0.86% 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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