Contact Your Financial Adviser Money Making MC
7
July 2017
I had
mentioned in last Friday’s closing report that Nifty, Sensex might bounce back
a bit. The major indices of the Indian stock markets raliied on three of the
five trading days of the week to close with gains. 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
 |
Weekly Indices (The Total
Investment & Insurance Solutions)
The
Indian equity markets traded with substantial gains during the mid-afternoon
session on Monday, following the launch of the country's biggest indirect tax
reform -- the Goods and Services Tax (GST) -- at the start of July 1. According
to market observers, investors' sentiments were also buoyed by positive global
cues and buying in FMCG (fast moving consumer goods), automobile and consumer
durables stocks. Equity benchmarks started off the week on a strong note. Asian
markets traded in the positive zone following positive US market closing. The
mid-cap and small-cap indices traded in the green with small-cap trading well
over 0.90% while mid-cap traded above 0.78%. Top gainers in the NSE were ITC,
Infratel, Hindalco and Vedanta while top losers were NTPC, Wipro, HCL Tech and
Sun Pharma. Stocks of FMCG rose to hit a record high on Monday, with ITC, which
is the largest contributor to the index, witnessing the highest momentum. The Total Investment & Insurance Solutions
Commercial
vehicles maker Ashok Leyland on Monday said it closed June with 11% growth in
sales volume. In a statement issued here, Ashok Leyland said it sold 12,330
units last month up from 11,108 units sold during June 2016. During the first
three months of this fiscal year, the company has sold 28,495 units down from
31,165 units sold during the corresponding period of the previous year. Ashok
Leyland shares closed at Rs100.25, up 6.82% on the BSE.
On
Tuesday, broadly negative global cues and selling pressure in automobile,
healthcare and FMCG (fast moving consumer goods) stocks dampened investors'
sentiments. On the NSE, there were 699 advances, 780 declines and 63 unchanged.
There was market resistance when the indices tried to fall lower and so the
medium trend of the market was observed to be bullish.
Central
Bank of India's shareholders approved a proposal to raise Rs6,500 crore through
follow-on public offer (FPO), rights issue and qualified institutional
placement (QIP). The state-owned lender said its shareholders approved the
company's capital raising plans at the annual general meeting (AGM) held on
June 30 at Mumbai. Central Bank of India shares closed at Rs87.10, down 0.23%
on the BSE on Tuesday.The Total Investment
& Insurance Solutions
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