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15 December 2017
I had
mentioned in last week’s closing report that Nifty, Sensex might be headed
higher over the next few days. The major indices of the Indian stock markets
showed volatility in trading through the week and closed on Friday with small
weekly gains over 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
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Weekly Indices (The Total
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On
Monday, the major indices of the Indian stock markets closed with gains over
Friday’s close. On the NSE, there were 877 advances, 824 declines and 301
unchanged. The
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Tata
Motors on Monday said it will increase prices of its entire passenger vehicle
range by up to Rs25,000, starting from January, due to rising input costs.
"The changing market conditions, rising input costs and various external
economic factors have compelled us to consider the price increase," said
Mayank Pareek, President, Passenger Vehicle Business, Tata Motors.
After
average 20% wage hikes for Coal India Ltd's 2.98 lakh permanent workers, its
trade unions are set for negotiating a wage revision for contractual workers
and a committee for this is likely to be set up in a month, a trade union
leader said on Sunday. After a long negotiation, Coal India management and
workers' unions had signed the Memorandum of Agreement for National Coal Wage
Agreement and this would be effective for five years till June 30, 2021. The
state-run miner had said the wage hike for permanent workers' would have an
estimated average annual impact of Rs5,667 crore and it had made provisions for
the wage revision. The proposed committee will have representations from all
the trade unions and also from the management, Ramanandan said. However, the
miner's bottomline has been under pressure in the last few quarters and it had
reported close to 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.
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Telecom
major Airtel said it will provide mobile connectivity in 2,100 uncovered
villages and national highways in the north-eastern states over the coming 18
months. This work is to be undertaken under an agreement with the Department of
Telecom (DoT), a company release said. Caution ahead of macroeconomic data
points release pulled the key indices of the domestic equity markets lower
during Tuesday's trade session. According to industry observers, heavy selling
pressure was witnessed in interest sensitive stocks -- banking, auto and
capital goods -- and FMCG (fast moving consumer goods) companies. On the NSE,
there were 476 advances, 1,066 declines and 45 unchanged.
Bharti
Airtel on Tuesday launched 4G services in the Ladakh region of Jammu and
Kashmir, a company statement said. The statement said customers in 130 towns
and villages, including Kargil, Leh, and Dras will now get connected with 4G.
Under the Project Leap initiative, Airtel's nationwide 4G footprint now spans
from Ladakh in the north to Kanyakumari in the south and from Tawang in the
east to Kutch in the west.
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After
a volatile trade session, the key Indian equity indices on Wednesday closed on
a lower note as investors booked profits in metals, capital goods and banking
stocks. According to market observers, the benchmark indices gave up all their
morning gains to close in the red for the second day in a row as traders were
cautious ahead of the US Federal Reserve's policy outcome later in the evening.
Selling pressure in index heavyweights like Cipla, Adani Ports, State
Bank of India, ICICI Bank and Larsen and Toubro pulled the indices lower. On
the NSE, there were 416 advances, 1,111 declines and 38 unchanged.
A
spurt in food and fuel prices pushed India's annual retail inflation in
November over the RBI's (Reserve Bank of India) median level of 4%, even as
factory output growth in October contracted to 2.2%, official data showed on
Tuesday, even as industry called for "remedial" measures to help revive
demand. According to the data from the Ministry of Statistics & Programme
Implementation, consumer price index (CPI) inflation in November rose to 4.88%
from 3.58% reported for October.
As
per the Index of Industrial Production (IIP) data released by the Central
Statistics Office, on a year-on-year basis, the manufacturing sector expanded
by 2.5%, whereas mining output was a mere 0.2% and electricity generation
expanded by 3.2%. Overall, the macro-economic data released by the government
had dampened investors’ sentiments, on Wednesday.
Key
Indian equity indices on Thursday traded in the red with selling pressure in
consumer durables, capital goods and metal stocks. IT (information technology)
major Tata Consultancy Services (TCS) was the top loser. However, later in the
trading session, the major indices recovered and rallied to close with gains.
On the NSE, there were 549 advances, 960 declines and 49 unchanged. US Federal
Reserve overnight raised interest rates by 25 basis points in Janet Yellen's
last policy meeting. Asian indices closed with small losses.
A
rise in food and fuel prices pushed India's annual rate of inflation based on
wholesale prices to 3.93% for November, official data showed on Thursday.
According
to data from the Ministry of Commerce and Industry, the wholesale price index
(WPI) accelerated to 3.93% in November from 3.59% during October and 1.82%
during November 2016. On a sequential basis, the expenses on primary articles,
which constitute 22.62% of the WPI's total weightage, edged higher by 5.28%,
from an increase of 3.33% in October. The prices of food articles rose by 6.06%
from an acceleration of 4.30% in October. Inflation data also contributed to
the early losses in trading on Thursday.
On
Friday, the major indices of the Indian stock markets rallied and closed with
significant gains over Thursday’s close. Cheering the Gujarat exit polls, the
key Indian equity indices extended gains for the second consecutive session and
traded on a higher note on Friday. On the BSE market breadth, buying was
observed in all the sub-indices, with the upward rally given a boost by index
heavyweights like Mahindra and Mahindra, Bajaj Auto, HDFC Bank, Adani Ports,
and Larsen and Toubro among others. On the NSE, there were 1,005 advances, 495
declines and 55 unchanged.The Total
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