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17
November 2017
I had
mentioned in last week’s closing report that Nifty, Sensex were still
trendless. The major indices of the Indian stock markets showed a lot of
volatility during the week and ended flat on Friday compared with 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
 |
Weekly Indices (The Total
Investment & Insurance Solutions)
Broadly
negative Asian markets, coupled with profit booking in capital goods, oil and
gas and consumer durables stocks, pulled the key Indian equity indices lower to
trade in the red on Monday. According to market observers, domestic
macro-industrial output data point released on Friday and selling in index
heavyweights like Coal India, ONGC, HDFC, Larsen and Toubro (L&T) and Tata
Steel, among others, eroded investors' risk taking appetite. On the NSE, there
were 623 advances, 1,060 declines and 303 unchanged.
Coal
India Ltd (CIL) reported close to a 40% fall in its consolidated net profit to
Rs368.88 crore in the quarter ended September 30, 2017 as compared to Rs612.44
crore in the corresponding quarter last fiscal. Its net revenue from operations
for the quarter stood at Rs18,148.31 crore, up 4.19% from Rs17,418.43 crore in
the year-ago period. The miner produced 113.04 million tonnes (mt) of coal in
the July-September quarter of the current fiscal, as against 104.37 mt in the
year-ago period. CIL's off-take stood at 131.58 mt in the quarter ended
September 30, 2017, as compared to 115.87 mt in the same period last financial
year, it said in a BSE filing. The Total
Investment & Insurance Solutions
Negative
global cues, along with disappointing macro-inflation data points and rising
crude oil prices subdued the key Indian equity indices on Tuesday. According to
market observers, selling pressure was witnessed in capital goods, oil and gas,
banking and IT (information technology) stocks. On the NSE, there were 667
advances, 1,013 declines and 301 unchanged.
Geo-political
tensions in the Middle East, negative Asian and European markets and
disappointing WPI (wholesale price index) data subdued the key domestic
indices, observed market analysts. India's annual rate of inflation based on
wholesale prices went up in October to 3.59%, official data showed here on
Tuesday. The Total Investment & Insurance
Solutions
State-run
United Bank of India (UBI) reported a net loss of Rs344.83 crore for the second
quarter ended September 30 against a net profit of Rs43.53 crore for the
corresponding period a year ago. Its operating profit fell to Rs286 crore in
the quarter under review, as against Rs436.59 crore in the corresponding period
last year. The lender had posted a net loss of Rs211.46 crore for the first
quarter of the current fiscal. The bank's asset quality deteriorated further in
the September quarter of the current fiscal. Gross non-performing assets (NPAs)
in absolute terms rose 15.8% year-on-year at Rs12,892.67 crore during the
period under review. The bank's gross NPA as a percentage of total loans rose
to 18.80% in the September quarter of this fiscal from 16.26% during the same
period in the previous fiscal. Net interest income (NII) remained flat at
Rs376.26 crore compared with Rs376.40 crore in the corresponding period of last
fiscal, according to a stock exchange filing. The Total Investment & Insurance Solutions
Negative
Asian indices, along with disappointing domestic macro-data and selling
pressure in metal, consumer durables and FMCG (fast moving consumer goods)
stocks, pulled the key Indian equity indices lower on Wednesday. Index
heavyweights like ONGC, Sun Pharma, ITC and Tata Steel were amongst the
prominent losers on the BSE. On the NSE, there were 393 advances, 1,311
declines and 277 unchanged. The Total
Investment & Insurance Solutions
State-run
gas transmission utility GAIL India (GAIL) posted a 41.6% rise in net profit
for the second quarter ending September at Rs1,309.63 crore, boosted by
handsome earnings from its gas transportation and marketing business. GAIL's
net profit for the same quarter last year was Rs924.65 crore. It earned a
pre-tax profit of Rs853.48 crore from gas transmission business during the
second quarter, as compared with Rs660.74 crore in the same quarter last
year.
Snapping
a three-day losing streak, key Indian equity indices on Thursday traded in the
green, with the BSE Sensex surging almost 300 points. According to market
observers, buying in banking, automobile and IT (information technology) stocks
pushed the equity indices higher despite weak Asian cues. On the NSE, there
were 964 advances, 421 declines and 43 unchanged.
India's
rural fast moving consumer goods (FMCG) market is expected to grow at a
compounded annual growth rate of 14.6% and reach $220 billion by 2025, a joint
study said on Wednesday. This is because of rural population using e-commerce
and digital connectivity services due to high penetration of smartphones,
credit and debit cards, and online banking. In the light of this, making their
products available to customers sitting in far and wide corners of the country
waiting to be serviced was the next big challenge before large FMCG companies,
the study said. According to the study, jointly published by MRRSIndia.com and
Assocham, India's FMCG market is expected to reach $103.7 billion by 2020 from
the current level of $49 billion, while the retail market is likely to reach
$1.1 trillion from the current $680 billion. The Total Investment & Insurance Solutions
A
sovereign ratings upgrade from US credit rating agency Moody's on Friday lifted
the key Indian equity indices to their new intra-day record highs. The two
indices -- S&P BSE Sensex and NSE Nifty50 -- gained over 300 points each
after the ratings upgrade. Even during the mid-afternoon trade session, both
the indices maintained their upward trajectory supported by broadly positive
Asian markets and uptake in bank, metal and consumer durable's counters. But
the major indices failed to sustain their over 1% gains. At the time of close
of trading, the major indices closed with gains of around 0.70% over Thursday’s
close. On the NSE, there were 1,050 advances, 641 declines and 292 unchanged.
US
credit rating agency Moody's on Friday upgraded India's sovereign rating to
Baa2 from its lowest investment grade of Baa, while changing the outlook for
the country's rating to stable from positive, and said it was based on the
Indian government's "wide-ranging programme of economic and institutional
reforms". The rating agency simultaneously upgraded India's local and
foreign currency issuer rating to Baa2 from Baa3. "The decision to upgrade
the ratings is underpinned by Moody's expectation that continued progress on
economic and institutional reforms will, over time, enhance India's high growth
potential and its large and stable financing base for government debt, and will
likely contribute to a gradual decline in the general government debt burden
over the medium term," a Moody's Investor Service release said.
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