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6
November 2017
I had mentioned in Friday’s closing report that
Nifty, Sensex might come under some selling pressure. The major indices of the
Indian stock markets were range-bound on Monday and closed with minor gains
over Friday’s close. The trends of the major indices in the course of Monday’s
trading are given in the table below:
 |
Major Indices (The Total
Investment & Insurance Solutions)
Key
Indian equity indices, which opened on a flat note, traded at fresh highs
during the mid-afternoon session on Monday with robust buying in consumer
durables and automobile stocks. According to market observers, buying in index
heavyweights like ONGC, Mahindra and Mahindra, Tata Motors, Maruti Suzuki and
Tata Consultancy Services, among others, aided in the upward trajectory of the
benchmark indices. On the NSE, there were 714 advances, 736 declines and 41
unchanged.
The key
Indian equity indices -- the BSE Sensex and the NSE Nifty50 -- are expected to
take cues from quarterly results, along with macro-economic data points and the
flow of foreign funds during the week. The focus will continue to be on results
this month. Sectors like PSU banks, infra and pharma will be in focus, pointed
out market analysts.
On the
macro front, automobile sales data for October by SIAM (Society of Indian
Automobile Manufactures) will be announced on November 8-10, and the Index of
Industrial Production for September will be announced on November 10.
Banks
are opting to set up multi-functional machines like currency recylers, instead
of plain cash dispensing automatic teller machines (ATM). Although the number
of ATMs has gone up between September 2016 and 2017, the number of recyclers is
on the rise, according to a senior official of the FIS payment solutions and
services provider. "Banks are taking a relook at their ATM channels with
under-performing machines being relocated. Old ATMs are also being replaced with
newer multi-functional machines like recyclers," Radha Rama Dorai,
Managing Director, ATM and Allied Services, told IANS. According to Reserve
Bank of India (RBI), the total number of ATMs installed by banks in the country
stood at 2,07,211 at the end of September as against 2,04,062 machines to the
same month in 2016. Recycler ATMs are machines that accept cash deposits,
give instant credit to an account holder and also dispense the deposited
currency to those who withdraw. Bank Nifty closed at 25,571.15, down 0.31% on
the NSE.
Public
sector Indian Bank on Monday said it closed the second quarter which ended on
September 30 with 11.45% growth in its net profit over the comparable period in
the previous fiscal. In a statement here, Indian Bank said it posted a net
profit of Rs451.54 crore for the quarter, up from Rs405.15 crore in the quarter
that ended on September 30, 2016. The bank's total income for the quarter was
Rs4,874.17 crore, up by 6.45 per cent over Rs4,579.02 crore for the quarter
ended on September 30, 2016. The bank’s shares closed at Rs377.30, up 9.16% on
the NSE.
Low
cost carrier IndiGo on Monday said it will achieve 1,000 flights per day mark
in December. According to the airline, it will launch 47 flights including
additional frequencies on its network, which will take its operations to 1,000
flights per day mark by December 23. Currently, IndiGo, with its fleet of 142
Airbus A320 family aircraft, operates over 900 daily flights connecting 46
destinations. The company’s shares closed at Rs1,242.20, down 1.04% on the NSE.
Reliance
Communications (RCOM) on Monday entered into a binding Memorandum of
Understanding with Veecon Media and Television Limited, for sale of its
subsidiary Reliance BIG TV Limited (RBTV), engaged in the business of Direct to
Home (DTH) services across India, a company statement said here. Pursuant to
the transaction, the buyer will acquire the entire shareholding of RBTV with
business on "as-is where-is" basis, along with all existing trade
liabilities and contingent liabilities, the statement said. The existing DTH
licence of BIG TV shall be renewed with the submission of the required bank
guarantees with the Ministry of Information and Broadcasting by the buyer. RCOM
shares closed at Rs15.85, down 6.21% on the NSE.
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:
 |
| Asian Indices (The Total Investment & Insurance Solutions) |
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