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11
August 2017
I had
mentioned in last Friday’s closing report that Nifty, Sensex were likely to go
sideways. The major indices of the Indian stock markets suffered repeated daily
trading corrections during the week to close the week on Friday with
significant losses over 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
Despite
positive global cues, the Indian equity markets gave up their morning gains to
trade on a flat note during the mid-afternoon session on Monday as investors
booked profits. Selling pressure was observed in IT (information technology),
teck (technology, media and entertainment) and consumer durables stocks. On the
NSE, there were 870 advances, 517 declines and 45 unchanged. The Total Investment & Insurance Solutions
The
benchmark BSE Sensex edged higher on opening trade but gave up some of the
early gains. Barring IT and technology, all the sectoral indices, led by metal,
realty, bank and auto, were trading in the positive terrain with gains. Brokers
said sentiments remained positive on the back of persistent capital inflows by
foreign funds and widening of positions by retail investors. Also, a firm trend
in other Asian markets after strong US job numbers provided relief to
investors, pointed out market analysts. However, the major indices could not
sustain the uptrend, as the market lacked momentum from the previous week’s
market movements and investors turned cautious. The Total Investment & Insurance Solutions
Shedding
all their morning gains, the key Indian equity indices -- the BSE Sensex and
the NSE Nifty50 -- traded in the red during the mid-afternoon session on
Tuesday. According to market observers, broadly negative global cues and
selling pressure in banking, oil and gas, and capital goods stocks dragged the
key indices lower. On the NSE, there were 257 advances 1,240 declines and 29
unchanged. The Total Investment & Insurance
Solutions
Equity
benchmarks erased opening gains, with the Nifty testing 10,000 level due to
selling pressure in banking and financials and oil stocks. Tata Steel gained as
much as 3.44% after it reported a net profit of Rs921 crore during the
April-June period, pointed out market observers. The top gainers on the NSE
were Hindalco, Tata Steel and Vedanta, while top losers were Infratel, NTPC and
Indian Oil Corporation. The Total Investment
& Insurance Solutions
State-run
Syndicate Bank reported a Rs263 crore net loss for the first quarter of 2017-18
as against Rs79 crore net profit in the like period year ago and Rs104 crore
net profit in the last quarter of 2016-17. "Our net profit has turned
negative due to higher provisioning for the quarter under review, which shot up
79% annually to Rs1,386 crore from Rs774 crore in the same period year
ago," Bank Managing Director Melwyn Rego told reporters here. Provisioning
for the gross non-performing assets (NPAs) also increased 16% sequentially from
Rs1,193 crore last quarter. Operating profit, however, increased 27% annually to
Rs980 crore from Rs774 crore but declined 35% sequentially from Rs1,514 crore.
Total income for Q1 also declined 3.8% annually to Rs6,172 crore from Rs6,419
crore and 11% sequentially from Rs6,913 crore. Gross NPA grew 31% annually to
Rs20,184 crore from Rs15,434 crore and 15% sequentially from Rs17,609 crore.
Similarly, net NPA grew 21.3% to Rs12,188 crore from Rs10,051 crore over last
year and 17% from Rs10,411 crore last quarter. Gross NPA ratio stood at 9.96%
and net NPA ratio at 6.27%. Syndicate Bank shares closed at Rs69.70, down 2.58%
on the NSE.
Negative
global cues on the back of geo-political tensions, coupled with heavy selling
pressure in healthcare, automobile and banking stocks, pulled the key Indian
equity indices lower during the mid-afternoon session on Wednesday. Around 1
p.m., the NSE Nifty50 of the National Stock Exchange (NSE) traded below the
psychologically important 10,000-point mark at 9,942.25 points -- down 36.30
points or 0.36% from its previous session's close. On the NSE, there were 251
advances, 1,236 declines and 36 unchanged. The
Total Investment & Insurance Solutions
The
BSE Sensex opened lower today against the previous session's closing. The
broader NSE's Nifty, too, fell in the morning hours. The Indian rupee opened
lower against the US dollar, pointed out market analysts. The shares of Tata
Consultancy Services, Infosys, Mahindra and Mahindra rose, whereas the shares
of ICICI Bank and Sun Pharma fell. Stocks in Asia declined with US equity-index
futures and the South Korean currency tumbled as investors took a risk-off
approach after the US and North Korea exchanged threats amid escalating
tensions between the two nations, reported market observers. The Total Investment & Insurance Solutions
Chennai-based
Polaris Consulting and Services Ltd on Wednesday said it closed the first
quarter of the current fiscal with a 24.2% decline in its net profit despite a
growth in total income. The company in a statement issued here said its first
quarter revenues stood at Rs554.9 crore against Rs501.90 crore earned for the
period ended June 30, 2016. Polaris said its profit after tax for the period
under review was Rs30.21 crore, down from Rs39.85 crore posted during the
previous year's corresponding period. The company said the net profit for the
quarter was impacted due to proactive hiring and account level investments made
for supporting future growth. The company’s shares closed at Rs231.60, up 0.72%
on the BSE.
The
key Indian equity indices -- the BSE Sensex and the NSE Nifty50 -- tumbled for
the fourth consecutive session on Thursday on the back of negative global cues
and heavy selling pressure in automobile, capital goods and banking stocks. The Total Investment & Insurance Solutions
According
to market observers, investors booked profits ahead of quarterly results
announcements of major companies like Bharat Heavy Electricals (BHEL), GAIL and
Adani Power, among others. During the mid-afternoon session, the NSE Nifty50 of
the National Stock Exchange (NSE) traded below the psychologically important
9,900-level, which was breached on July 14. The Total Investment & Insurance Solutions
Indian
equities extended losses for the fourth straight session taking lead from Asian
markets, which traded in negative, following lower closing on the Wall Street.
In India, investors will keep an eye on any development on the Sebi's decision
to restrict trading in 331 shell firms, observed market analysts. Result
calendar for companies like BHEL, GAIL, Petronet LNG, Bharat Forge, IOB, Adani
Power, Union Bank Coffee Day Enterprises, GSPL and Gujarat Gas are among 340
companies scheduled to report their June quarter earnings later today. Top
gainers on the NSE were Auropharma, Tech Mahindra and Lupin, while the losers
for morning trade were Tata Motors DVR, Tata Motors and Eicher Motors, pointed
out market analysts.
Commercial
vehicle manufacturer Eicher Motors reported a rise of 31.9% in its consolidated
net profit for the first quarter (Q1) of 2017-18. The consolidated net profit
of the commercial vehicle and motorcycle brand Royal Enfield's manufacturer
increased to Rs435 crore from Rs330 crore for the corresponding quarter of
2016-17. According to the company, its consolidated total income from
operations (net of excise) increased by 28.6% to Rs2,001 crore as against
Rs1,556 crore for the corresponding quarter last year. The company’s shares
closed at Rs30,111.70, up 3.62% on the NSE. The Total Investment & Insurance Solutions
The
market fall continued on Friday. The key Indian equity indices -- the BSE
Sensex and the NSE Nifty50 -- traded deep in the red during the post-afternoon
session on Friday as negative global cues subdued investors' risk-taking
appetite. According to market observers, investors booked profits ahead of
quarterly results announcements of major companies like State Bank of India,
Bank of Baroda, BPCL, Cipla and Hindalco, among others. The correction was
sharp on Friday too and the major indices closed with losses of around 1% over
Thursday’s close. Benchmark indices traded lower by 1%, extending falls for the
fifth straight session, following a crack in the US stocks during the overnight
trade on escalating geopolitical tensions over Korea. On the NSE there were 551
advances, 938 declines and 22 unchanged.The
Total Investment & Insurance Solutions
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