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November 2017
The
major indices of the Indian stock markets were range-bound on Thursday and
closed with minor losses over Wednesday’s close. The trends of the major
indices in the course of Thursday’s trading are given in the table below:
 |
Major Indices (The Total
Investment & Insurance Solutions)
After
opening in the green, the two key Indian equity indices traded in the red
during the mid-afternoon session on Thursday as investors booked profits in
metal, automobile and FMCG (fast moving consumer goods) stocks. Despite that,
the broader Nifty50 of the National Stock Exchange scaled a fresh intra-day
high of 10,453 points, surpassing its Wednesday's intra-day record high of
10,451.65 points. On the NSE, there were 741 advances, 810 declines and 59
unchanged.
The
shares of Sun Pharma, Lupin and Cipla rose whereas those of Hero MotoCorp and
Hindustan Unilever fell. The US Fed kept interest rates unchanged on the
expected line but its commentary on the US economy has virtually confirmed a
December rate hike, which is what might turn the domestic market cautious,
observed market analysts. The US dollar rose against most major currencies
after the Federal Reserve left its benchmark interest rates unchanged. In late
New York trading on Wednesday, the euro decreased to $1.1622 from $1.1653, and
the British pound decreased to $1.3254 from $1.3281. The Australian dollar
increased to $0.7669 from $0.7660.
Power
producer NTPC on Thursday said it has shut down a 500 MW unit at its Feroze
Gandhi Unchahar Thermal Power Station in Rae Bareli in Uttar Pradesh following
the accident on Wednesday that claimed the lives of 26 people. The company’s
shares closed at Rs180.25, down 0.41% on the NSE. India's largest lender State
Bank of India (SBI) on Thursday announced reduction of interest rates on home
and automobile loans by five basis points (bps). However, this was
insignificant as against the 25 basis points of cut in deposit rates. SBI
shares closed at Rs314.35, down 1.77% on the NSE.
Coal
Minister Piyush Goyal said Coal India's production target of 600 million tonnes
for the current fiscal would "not be a difficult" task and also hoped
the miner would meet the one billion production target by 2019-20. "The
600 million tonnes production target for the current fiscal is not impossible
and will not be difficult for the miner. I have confidence that it would meet
the one billion target by 2019-20," he said. In view of the rapid progress
of renewable energy in the country along with falling prices of alternative
power, he urged it to "improve operating efficiency and productivity"
so that it could provide the fuel at cheaper price. The minister also said the
Maharatna company achieved a 92 million tonnes of growth in production in the
last three years and its subsidiaries had to regulate the production during
February 2016 to July 2017 to deal with the problem of muted demand. Coal India
shares closed at Rs291.20, up 1.48% on the NSE.
India's
leading IT (information technology) firm Tech Mahindra reported a 29.7% rise in
its consolidated net profit to Rs836.2 crore in the quarter ended September 30,
2017 as compared to Rs644.7 crore in the year-ago period. Its revenue, during
the quarter under review, was at Rs7,606.4 crore, up by 6.1% from Rs7,167.4
crore in the same period last year. Commenting on the performance, company Vice
Chairman Vineet Nayyar said: "Digital, domain and execution remain our
focus, as we help global companies transform themselves from IT (Information
Technologies) to DT (Digital Technologies). The company has once again proved
that despite the occasional headwinds, geopolitical uncertainties and changing
demands, we will rise to grow." The company’s shares closed at Rs467.95, down
4.30% on the NSE.
Reliance
Infrastructure (RInfra) announced it has completed the sale of the operational
transmission assets of WRSS Schemes to Adani Transmission for Rs1,000 crore.
"The entire proceeds from the stake sale in Western Region System Strengthening
Scheme (WRSSS) transmission undertakings shall be utilized for debt
reduction," RInfra said in a release here. Last month, RInfra had
signed a business transfer agreement with Adani Transmission Ltd (ATL) in this
regard. The country's first 100 per cent private sector transmission
project -- WRSSS B and C -- projects are located in Maharashtra, Gujarat,
Madhya Pradesh and Karnataka. Rinfra shares closed at Rs500.25, up 0.14% on the
NSE.
The
US labour market "has continued to strengthen" and economic activity
"has been rising at a solid rate" despite hurricane-related
disruptions, the Fed's policy-making committee said in a statement on
Wednesday, after its two-day meeting. On the economic front, US private sector
employment increased by 235,000 jobs from September to October, beating market
estimates, said the October ADP National Employment Report on Wednesday. The
ADP report is often seen as a preview for the closely-watched US nonfarm
payrolls data due to be out on Friday.
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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