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27 November 2017
I had
mentioned in Friday’s closing report that Nifty, Sensex were on an uptrend for
now. 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: The Total Investment & Insurance
Solutions
 |
Major Indices (The Total
Investment & Insurance Solutions)
The
key Indian equity indices on Monday were trading lower in the afternoon session
on Monday, in line with the closing values of Asian indices. S&P maintained
status quo on sovereign rating amid a likely rise in volatility ahead of expiry
of November futures and options contracts, observed market analysts. On the
NSE, there were 990 advances, 703 declines and 303 unchanged.
Agrarian states Punjab and Haryana have
procured nearly 245 lakh tonnes of paddy so far, Food and Supplies Department
officials said here on Sunday. Both states are heading towards record paddy
procurement this season, officials said. Punjab has procured nearly 176.5 lakh
tonnes of paddy while neighbouring Haryana has procured 68.33 lakh tonnes of
paddy. Government agencies have procured 98.5 per cent of the paddy arriving in
the grain markets in Punjab. In neighbouring Haryana, the paddy procured is
much higher than the 64.77 lakh tonnes paddy procured in the corresponding
period last year. Punjab is expecting a record procurement this year compared
with over 168 lakh tonnes of the bumper crop last year. The procurement, which
began in both states on October 1, will continue till November end. This is
likely to cause the major indices to continue on a long term upward trajectory,
as it would control CPI inflation reasonably. The Total Investment & Insurance Solutions
West
Bengal Chief Minister Mamata Banerjee on Monday said the state, which has been
facing legacy issues in terms of ease of doing business, has fulfilled 336
parameters out of the 372. The remaining 36 parameters would be met in the next
few months, she said addressing the Horasis Asia Meeting. The state currently
is in the top 10 in the ease of doing business ranking and she assured that it
would emerge as the number one in the ranking soon. She also said: "It
takes time (to improve the ranking) and we are facing some legacy issues."
This is also likely to contribute to a long term upward trajectory of the major
indices.
GDP
data for the second quarter of the 2017-18 fiscal, along with expiry of
derivatives and the movement of foreign funds, are expected to be the main
indicators to give direction to the key Indian equity indices. Apart from
global cues, over the coming weeks, markets will seek direction from future
events like the Reserve Bank of India (RBI) policy meet during the first week
of December and the Gujarat elections the following week. "Focus in the
coming week will be on the GDP numbers for the September quarter due to be
released on November 30. Consumption growth is likely to be impacted by GST
implementation during Q2FY18 and private sector capex continued to remain
weak," Teena Virmani, Vice President - PCG Research at Kotak Securities,
told news agencies. "RBI policy in the first week of December and Gujarat
elections in the second week are also being eyed closely. The rise in crude
prices has left very little scope for RBI to cut rates in the upcoming
meeting," said Virmani.
Hinduja
flagship firm Ashok Leyland today said it has inked a pact with its
long-standing Japanese partner Hino to jointly develop BS-VI compliant engines.
The companies have entered into a mutual cooperation agreement (MCA) where
Ashok Leyland will utilise Hino's engine technology for Euro-VI development and
will support Hino’s engine parts' purchasing in India for global operation, the
Chennai-based firm said in a statement. Hino and Ashok Leyland have had a
cooperative agreement for engine production in India since 1986. Ashok Leyland
shares closed at Rs123.40, up 4.18% on the NSE.
Shares
of Sun Pharmaceutical Industries slipped nearly 2% in early trade on Monday
after the pharma company on Friday announced that its US-based subsidiary is
recalling two lots of diabetes drug Riomet due to microbial contamination. Sun
Pharma shares closed at Rs550.70, up 0.22% 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: The Total
Investment & Insurance Solutions
 |
| Asian Indices (The Total Investment & Insurance Solutions) |
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