Contact Your Financial Adviser Money Making MC
7
August 2017
I had
mentioned in Friday’s closing report that Nifty, Sensex were likely to go
sideways. The major indices of the Indian stock markets were range-bound on
Monday and closed with minor losses 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
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
FMCG
(fast moving consumer goods) major Britannia Industries plans to set up its
largest plant at Ranjangaon Food Park in Maharashtra, company Chairman Nusli
Wadia said on Monday. The company entered into a joint venture agreement with
Chipita S.A., a Greek company, for manufacture and sale of ready-to-eat filled
croissants which is a very large category in certain countries demographically
similar to India. According to the company's latest annual report, it will
continue to scout for many such profitable growth opportunities to ensure that
it stays ahead of the market while transforming itself into a total foods
company. Wadia said that the focus of the company would be on investments on
new products and cost reduction. He also said that the company was planning to
set up a dairy project. The shares of the company closed at Rs4,107.80, up
4.79% on the NSE. The Total Investment & Insurance
Solutions
The
United Forum of Bank Unions (UFBU) has given notice of their decision to go on
nationwide strike on August 22 to protest reforms in the banking sector and
other issues, said a top union leader on Monday. "We have given a strike
notice. The strike will be on August 22 spread over the entire banking
sector," All India Bank Employees' Association (AIBEA) General Secretary
C.H.Venkatachalam told IANS. The strike notice was given couple of days back,
he said. The UFBU, comprising nine unions in the banking sector, also urged the
Indian Banks Association (IBA) to expedite wage revision and other issues. The
S & P BSE Bankex closed at 28,162.39, up 0.31% on the BSE. The Total Investment & Insurance Solutions
The
recent strength in rupee is hurting exporters, industry lobby Assocham said on
Sunday. Declining by close to 6% over the past one year, the rupee is currently
trading at 63.63-70, against 66.93 to a dollar in August 2016, Assocham said.
While exports have been growing for the last nine months ending June 2017, the
Reserve Bank of India (RBI) observed that the export growth weakened in May and
June from the April peak as the value of shipments across commodity groups
either slowed or declined. "Exports have shown growth of 4.39% to $23.56
billion in June 2017, as compared to $22.57 billion a year ago. But this growth
had peaked to 20% in April this fiscal," the statement said. Moreover,
thanks to declining value of dollar in rupee terms, during June 2017 exports
showed a negative growth of 0.04%, it added. "It clearly translates
into erosion in margins between 6%-7% only on account of currency appreciation
and the trend is likely to continue on the back of robust inflows in the stock
market," Assocham Secretary General DS Rawat said. 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)
No comments:
Post a Comment