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10
July 2017
I had
mentioned in Friday’s closing report that Nifty, Sensex were likely to trade
sideways. The major indices of the Indian stock markets rallied on Monday and
closed with 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)
Positive
global cues and buying in banking, IT (information technology) and capital
goods stocks pushed the Indian equity markets to fresh highs during the
mid-afternoon trade session on Monday. Equity benchmarks started-off on a
strong note with both equity benchmark indices hitting record highs. Global
cues and buying support aided in the markets' rise, pointed out market
analysts. On the NSE, there were 966 advances, 515 declines and 472 unchanged.
On the BSE, there were 1,554 advances, 1,090 declines and 165 unchanged.
Full-fledged
trading resumed on the National Stock Exchange of India (NSE) during the
mid-afternoon session on Monday after a technical glitch impacted trading
during an early-morning session. The stock exchange said that the technical
glitch impacted trading on its Cash and Future and Option (F&O) segment
during the early-morning trade session, and that the glitch has been resolved.
The NSE said that all its market segments were operational as of 12.30 p.m. An
earlier statement from the bourse said: "Due to technical reasons in cash
market, trading has been stopped in both Cash and F&O segment of the NSE.
The technical team of NSE is looking into the issue." However, stock
brokers contacted by IANS said that though the trading has resumed some minor
issues in the Cash segment remained. "It has restarted now. The problem
seems to be resolved. However, some minor display issues on the cash segment
are still there. The Futures segment is operating seamlessly," a stock
broker told IANS here. According to the broker, the problem about price
updation and "placing of orders" started during the early phase of
the day's trade session. "Afterwards, we were informed by the NSE that
trade will restart at 10.15 a.m. and then at 11.00 a.m.," the broker said.
The technical glitch was noticed after the NSE stock rates were not in tandem
with BSE (Bombay Stock Exchange) scrip prices.
India's
steel consumption grew by 4.6% to nearly 21 million tonne in the first quarter
of the current fiscal over the same period in 2016 while the country's steel
exports jumped by nearly 66% in the April-June period, a Ministry report said.
"India's consumption of total finished steel saw a growth of 4.6% in
April-June 2017 at 20.999 mt (million tonne) over same period of last year,
under the influence of a rising production for sale," the report said. The
Ministry's study also pointed out overall consumption at 7.204 mt in June was
down by four per cent over the previous month (May 2017) and was up by 5.3%
over corresponding month (June 2016) last year. "Export of total finished
steel was up by 65.9% in April-June 2017 at 1.387 mt over same period of last
year. Overall exports in June 2017 at 0.648 mt was up by 0.9% over May 2017 but
was up by 20.2 per cent over June 2016," said the report of Joint Plant
Committee. However, the import of total finished steel at 1.715 mt in June
quarter declined by 6.4% over same period in 2016. Overall imports at 0.653 mt
in June was up by 17% over May and increased year-on-year by 3.2% over same
month last year (June 2016). India was a net exporter of total finished steel
in April-June 2017, the report said. Steel Authority of India shares closed at
Rs63.00, up 2.19% on the BSE and Tata Steel shares closed at Rs559.20, up 0.98%
on the BSE.
Airtel has launched 'Project Next', a digital
programme which, it says, will transform customer experience across all its
services, with an investment of Rs2,000 crore over the next three years.
"We plan to invest Rs2,000 crore over the next three years to launch
several digital innovations to make our customers' experience more simple and
interactive," said Gopal Vittal, Managing Director and CEO (India and
South Asia), Bharti Airtel. As part of the project, the company will revamp all
its 2,500 stores across the country. It will also introduce data rollover
opportunity for customers so that their data of a particular month if unused
does not go waste. Bharti Airtel shares closed at Rs405.40, up 5.39% on the
BSE. The Total Investment &
Insurance Solutions
After a huge fall in sugar production
2016-17, that forced the import of 500,000 tonnes, official and industry
circles expect the upcoming "sugar year" to be sweeter, thanks to a
good monsoon and signals of better yield from the field. According to the
officials in the Agriculture Ministry and organisations representing private
and cooperative sugar factories, output in 2017-18 (the "sugar year"
starts from October) is to cross 25 million tonnes, almost 25% higher than in
2016-17. "Most of the water reservoirs in the sugarcane-producing states,
especially in Maharashtra, are filled to their normal level. In addition, the
cultivation area in Uttar Pradesh is likely to be increased. As per the inputs
from the state Cane Commissioners, we are expecting the output to go above 25
million tonnes," said a senior official, who requested anonymity. Bajaj
Hindustan Sugar shares closed at Rs15.90, down 2.81% and Parrys Sugar
Industries shares closed at Rs47.65, down 12.08% 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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