Saturday, 11 February 2017

Friday, 10 February 2017

Nifty, Sensex Lacks Momentum - Weekly closing report-The Total Investment & Insurance Solutions

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10 February 2017

Last week, we had mentioned that Nifty and Sensex are reaching overbought zone. The major indices in the Indian stock markets ended flat over the week when there was a monetary policy review and December quarter results. 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)

Positive global cues, coupled with a strong rupee and higher crude oil prices, lifted the Indian equities markets on Monday. The key indices provisionally closed with gains of more than 0.5% each, even as some gains were capped due to profit booking. Buying was witnessed in banking, consumer durables and healthcare stocks. The Total Investment & Insurance Solutions

Profit booking, coupled with negative global cues and a weak rupee, pulled the Indian equities markets lower during the mid-afternoon trade session on Tuesday. Besides, investors were cautious ahead of the monetary policy review of the Reserve Bank of India (RBI). The key indices traded in the red, as selling pressure was witnessed in automobile, metal and IT (information technology) stocks. The Total Investment & Insurance Solutions

Moreover, flat crude oil prices and a weak rupee also added to the downward trend of the markets. Firm USD/INR futures prices pressurised the price movement of the Indian equities markets. IT (information technology) stocks traded down due to selling pressure, while oil-gas, textile, aviation, media-entertainment, cement and power sector stocks traded with bearish sentiments due to profit booking at higher levels. The Total Investment & Insurance Solutions

Indian equities markets on Wednesday remained flat even after the Reserve Bank of India (RBI) decided to keep its key lending rate unchanged at 6.25% in its sixth and final monetary policy review for 2016-17. The Sensex fell 186 points intraday on profit booking, especially after the Monetary Policy Committee kept repo rate steady at 6.25% The 30 share BSE Sensex was down 45.24 points at 28289.92 and the 50 share NSE Nifty rose 0.01% points to 8769.05. The Monetary Policy Committee decided to hold repo rate, at which banks borrow money from RBI, at 6.25% and cash reserve ratio at 4%, while keeping its commitment to ensure an efficient and appropriate liquidity management. However, it changed policy stance to neutral from accommodative, citing concerns about rising commodity prices and global uncertainty and feels there is scope for banks to cut lending rates. The Total Investment & Insurance Solutions

Nifty and Sensex recovered on Thursday from the day’s low just like the recovery made on Wednesday after RBI’s monetary policy review. Metals, banks, capital goods and healthcare stocks observed some profit booking and IT, telecom, consumer durable, realty stocks saw some gain. Rupee was up by 35 paise by Rs66.84/$. Most bank stocks declined. IT stocks advanced in positive market. Meanwhile, the Sensex declined bounced back after falling 149.36 points or 0.53% in two trading sessions to 28,289.92 yesterday, 8 February 2017, from its close of 28,439.28 on 3 February 2017. The Sensex has risen 673.74 points, or 2.44% in February 2017 (till 9 February 2017). The Total Investment & Insurance Solutions

On Friday, the indian equity benchmarks closed flat, with S&P BSE Sensex rising 4.55 points to 28334.25 and Nifty 50 up by 15.15 points to 8793.55. The BSE market breadth was marginally tilted in favour of the bears with 1,539 declines and 1,321 advances. 

Investor sentiment remained cautious ahead of IIP (Index of Industrial Production) numbers for December, which is scheduled to be released later in the evening today. 

SBI reported revenue growth of 11.88% to Rs75,537.22 crore and net profit growth of 70.88% to Rs1,259.47 crore for the December 2016 quarter. Its share closed 0.15% up to Rs276.25 on BSE. Among the sector-related stocks, Petrochemicals, Information Technology, Gems and Jewellery, Beverages - Alcoholic, Beverages - Non-Alcoholic stood among top gainers, while Aquaculture, Packaging, Iron and Steel, Glass, Rubber sector-related stocks remained among top losers. 


Tata Power Company rose 0.18% after the company's consolidated net profit rose 38.3% to Rs 599.20 crore on 9.82% fall in total income to Rs 6604.59 crore in Q3 December 2016 over Q3 December 2015.The Total Investment & Insurance Solutions

Panama papers: Law firm partners Mossack, Fonseca arrested-The Total Investment & Insurance Solutions

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10 February 2017

Panama City,  The two main partners of Mossack Fonseca, the Panamanian law firm at the centre of the so-called 'Panama papers' scandal, were arrested on Friday, a media report said.

The arrests of Ramon Fonseca Mora and Jurgen Mossack came hours after the Panamanian authorities accused them of being involved in the "Lava Jato" corruption case in Brazil, Efe news reported. The Total Investment & Insurance Solutions

Fonseca, a former aide of Panamanian President Juan Carlos Varela, and Mossack, were transferred from the Public Prosecutor's Office headquarters to police custody here, defence lawyer Elías Solano said. The Total Investment & Insurance Solutions

The Panama Papers are an unprecedented leak of 11.5 million files from the database of the world's fourth biggest offshore law firm, Mossack Fonseca. 

The records were obtained from an anonymous source by the German newspaper Süddeutsche Zeitung, which shared them with the International Consortium of Investigative Journalists (ICIJ). The Total Investment & Insurance Solutions

The ICIJ then shared them with a large network of international partners.


The documents showed myriad ways in which the rich exploit secretive offshore tax regimes. Twelve national leaders are among 143 politicians, their families and close associates from around the world known to have been using offshore tax havens.The Total Investment & Insurance Solutions

Ajay Tyagi New Sebi Chief-The Total Investment & Insurance Solutions

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10 February 2017
 
SEBI (The Total Investment & Insurance Solutions)
The government has decided to appoint Ajay Tyagi, Tyagi, additional secretary (investment) in the department of economic affairs of the finance ministry as the next chairman of the Securities of Exchange Board of India (Sebi). Tyagi was said to be among the three shortlisted for the job by Financial Sector Regulatory Appointments Search Committee (FSRASC), which conducted the interviews and short-listed the candidates. Two others in the running were said to be power secretary P.K. Pujari and Shaktikanta Das, economic affairs secretary. The process for selecting the next Sebi chief started in September. The current tenure of UK Sinha, who has been at the Sebi chief since February 2011, ends on 1 March. An IAS officer from Himachal Pradesh, Tyagi, for a short while was also on the RBI board. The Total Investment & Insurance Solutions


Sinha became the Sebi chairman on 18 February 2011 and was initially appointed for a three-year term. Later, he was given a two-year extension. Last year, days before Sinha’s last term was to end on 17 February 2016, the government approved his re-appointment to the position from 18 February till 1 March 2017. The finance ministry while inviting applications for the Sebi chief post had mentioned “Keeping in view the role and importance of Sebi as a regulator, it is desirable that persons with high integrity, eminence and reputation preferably with more than 25 years of professional experience and in the age group of 50-60 years may apply.”The Total Investment & Insurance Solutions

US Stock Indexes Extend Climb Into Record Heights-The Total Investment & Insurance Solutions

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10 February 2017

 
Dow Jones industrial average (The Total Investment & Insurance Solutions)

The Dow Jones industrial average rose 51 points, or 0.3 percent, to 20,223 as of 10:08 a.m. Eastern Time. The Standard & Poor's 500 index gained 4 points, or 0.2 percent, to 2,312. The Nasdaq composite index added 3 points, or 0.1 percent, to 5,719. The three indexes were pushing further into record territory after closing at new highs on Thursday.
ADDITION BY SUBTRACTION: Sears leaped 27 percent after the troubled department store chain said it will slash at least $1 billion a year in costs by selling stores, cutting jobs or selling some of its well-known brands. The stock gained $1.50 to $7.04.
GOOD FIT: Skechers surged 21.6 percent after the shoe retailer reported surprisingly strong fourth-quarter revenue thanks partly to sales in China. The stock gained $5.02 to $28.30.
STRONG QUARTER: Activision Blizzard climbed 14.1 percent after the video game maker's fourth-quarter earnings beat expectations. Shares in the maker of "Call of Duty," ''Candy Crush" and other games rose $5.60 to $45.33.
SOLD: Mead Johnson Nutrition Co. rose 4.8 percent after the baby formula maker agreed to be bought by British household products company Reckitt Benckiser for $90 a share, or $16.6 billion. Mead Johnson shares jumped $4 to $87.05.
THUMBS DOWN: Yelp skidded 11.9 percent after the online reviews company's revenue forecasts disappointed Wall Street. The stock shed $4.94 to $36.55.
DASHED EXPECTATIONS: Cerner slid 4 percent after the health care information technology company lowered its earnings and revenue guidance for the year. The stock fell $2.14 to $51.74.
TRUMP & EARNINGS: Investors have been focused in recent weeks on companies reporting their quarterly results as they size up corporate America's growth prospects. They're also eying Washington D.C. for signs the Trump administration will deliver on the promised business-friendly policy proposals that helped drive a market rally last fall, including slashing government regulations and taxes.
MARKETS OVERSEAS: In Europe, Germany's DAX was up 0.3 percent, while France's CAC 40 was flat. Britain's FTSE 100 was 0.3 percent higher. Greece's stock market was up 2.5 percent as its creditors met to find a way to ease concerns about the future of its bailout program. In Asia, investors welcomed strong January trade data from China. Hong Kong's Hang Seng rose 0.2 percent, while South Korea's Kospi added 0.5 percent. Australia's S&P/ASX 200 jumped 1 percent. Japan's benchmark Nikkei 225 index surged 2.5 percent as the yen weakened against the dollar, lifting shares of exporters.
OIL & GAS: Benchmark U.S. crude was up 83 cents, or 1.6 percent, at $53.83 a barrel in New York. The contract rose 66 cents on Thursday. Brent crude, the benchmark for international oil prices, was up 87 cents, or 1.6 percent, at $56.50 a barrel in London. Natural gas futures were down 11 cents, or 3.5 percent, at $3.03 per 1,000 cubic feet.
TREASURY YIELDS: Bond prices fell. The 10-year Treasury yield rose to 2.42 percent from 2.40 percent late Thursday.

CURRENCIES: The dollar strengthened to 113.59 yen, up from 113.33 yen on Thursday. The euro weakened to $1.0623 from $1.0658.

Trump's Health Secretary Pick Confirmed Narrowly For Cabinet-The Total Investment & Insurance Solutions

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10 February 2017

Health Secretary (The Total Investment & Insurance Solutions)

 

President Donald Trump's new health secretary is set to take his post after becoming the latest Cabinet nominee to eke out a confirmation victory in the bitterly divided Senate. The Total Investment & Insurance Solutions
Rep. Tom Price, R-Ga., was scheduled to take his oath of office at the White House Friday, just hours after the Senate confirmed him 52-47 in a party-line vote. That roll call came in the dead of night, thanks to Democrats' tactic of forcing prolonged debates to broadcast their opposition to Trump and his team. The Total Investment & Insurance Solutions
As head of the Health and Human Services Department, Price will take center stage as the administration and congressional Republicans try delivering on their pledge to scrap President Barack Obama's health care law substitute their own programs. After years of trying, they finally command both the White House and Congress but have so far struggled to craft a plan with enough votes to win approval. The Total Investment & Insurance Solutions
Price, a seven-term House member and orthopedic surgeon, is likely to play a lead role both in shaping health care legislation and issuing department regulations aimed at weakening Obama's statute.
"Having Dr. Tom Price at the helm of HHS gives us a committed ally in our work to repeal and replace Obamacare," House Speaker Paul Ryan, R-Wis., said Friday. The Total Investment & Insurance Solutions
Democrats focused on the legislation Price sponsored during a seven-term House career, including efforts to kill Obama's law. He's also sought to reshape Medicare's guarantee of health coverage for seniors into a voucher-like program, cut Medicaid, which helps poor people afford care, and halt federal payments to Planned Parenthood because it provides abortions.
Sen Elizabeth Warren, D-Mass., conceded that Price had experience but added, "It's the kind of experience that should horrify you." The Total Investment & Insurance Solutions
That battle won, Republicans were preparing to next win Senate confirmation for financier Steven Mnuchin to be Treasury secretary. He was expected to get the chamber's approval Monday, along with Trump's choice to head the Department of Veterans Affairs, physician David Shulkin.
Republicans have lauded Mnuchin's long career in the finance and banking worlds.
As they did with Price, Democrats are attacking Mnuchin's background, such as criticizing OneWest bank, which he led, for not protecting thousands of homeowners from unnecessary foreclosures. They also said he failed to disclose nearly $100 million in assets on forms he filed with the Senate. The Total Investment & Insurance Solutions
 Price's nomination is part of a larger clash in which Republicans want to quickly enact priorities long blocked by Obama. Democrats, with few tools as Congress' minority, are making a show of resistance, stretching some floor debates to the maximum 30 hours Senate rules allow. The Total Investment & Insurance Solutions
The high stakes plus Trump's belligerent style have fed the combativeness. They've also produced remarkable scenes, including Democratic boycotts of hearings, Republicans suspending committee rules to approve nominees and GOP senators voting to bar Warren from joining one debate. The Total Investment & Insurance Solutions
Democrats have accused Price of lying about his acquisition of discounted shares of an Australian biotech company and benefiting from insider information. They've also asserted he pushed legislation to help a medical implant maker whose stock he'd purchased. The Total Investment & Insurance Solutions
Price has said he's done nothing wrong. It's illegal for members of Congress to engage in insider trading.
His close confirmation was the fourth consecutive Senate clash over a Cabinet nominee that closely followed party lines.
Attorney General Jeff Sessions was confirmed 52-47, after Warren was punished for reading a 1986 letter by Coretta Scott King criticizing him. Betsy DeVos became Education secretary by 51-50, thanks to a tie-breaking vote by Vice President Mike Pence.
And Former Exxon-Mobil CEO Rex Tillerson became secretary of state by 56-43.
Those close tallies are a departure from most Cabinet votes, in which the Senate usually grants overwhelming approval in a show of deference to letting presidents choose their teams. The Total Investment & Insurance Solutions
Just four of 31 votes for then-President Barack Obama's Cabinet vacancies drew at least 40 "no" votes, as did only two of 34 votes for Cabinet positions under President George W. Bush.
During that period, the closest tally for health secretary before Price was the 65-31 roll call for Obama's 2009 pick, Kathleen Sibelius. The Total Investment & Insurance Solutions

Thursday, 9 February 2017

Nifty, Sensex to remain rangebound– Thursday closing report-The Total Investment & Insurance Solutions

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9 February 2017

I had mentioned in Wednesday’s closing report that Nifty, Sensex may struggle to go higher. The major indices of the Indian stock markets ended almost flat on Thursday and remains overbought. The trends of the major indices are given in the table below: The Total Investment & Insurance Solutions
 
Major Indices (The Total Investment & Insurance Solutions)
Indian equity benchmarks remained flat for the third day as the investors shifted their focus back to December quarter results and global cues. The BSE market breadth was marginally tilted in favour of the bears with 1,513 declines and 1,382 advances. On Friday, the markets will closely watch third quarter earnings of SBI and Bank of Baroda, country’s largest public sector lenders after observing more or less stable earnings from banks. Nifty50 recovered on Thursday from the day’s low just like the recovery made on Wednesday after RBI’s monetary policy review. Metals, banks, capital goods and healthcare stocks observed some profit booking and IT, telecom, consumer durable, realty stocks saw some gain. Rupee was up by 35 paise by Rs66.84/$
The barometer 30 scrip sensitive index, which opened at 28,349.22 points, traded at 28,329.70 points down 19.52 points or -0.14% from the previous close at 28,289.92 points. The top gainers and top losers of the major indices are given in the table below: The Total Investment & Insurance Solutions

Top Gainer (The Total Investment & Insurance Solutions)

Among other Sensex stocks, ITC and Reliance Industries gained 0.7-1% whereas HDFC Bank, L&T, NTPC was down 0.6-2.6%. 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)
Among secondary barometers, the BSE Mid-Cap index rose 0.23%. The BSE Small-Cap index gained 0.19%. Both these indices outperformed the Sensex. Most bank stocks declined. IT stocks advanced in positive market. Meanwhile, the Sensex declined bounced back after falling 149.36 points or 0.53% in two trading sessions to 28,289.92 yesterday, 8 February 2017, from its close of 28,439.28 on 3 February 2017. The Sensex has risen 673.74 points, or 2.44% in February 2017 (till 9 February 2017). Bank Nifty ended 0.47% as private sector banks, City Union Bank, IndusInd Bank, HDFC Bank, ICICI Bank, Yes Bank and RBL Bank edged lower.


Welspun India grew by 7.6% to Rs94.45, on strategic agreement with Cotton Egypt association while Maharashtra Seamless rallied 8% to Rs3301, after bagging an order by ONGC worth Rs421 crore. The Total Investment & Insurance Solutions

India hands over Mallya extradition request to Britain -The Total Investment & Insurance Solutions

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9 February 2017

India has handed over a request for the extradition of liquor baron Vijay Mallya to the British High Commission here, the Ministry of External Affairs on Thursday said. The Total Investment & Insurance Solutions



"We have today handed over the request for extradition of Vijay Mallya as received from the CBI to the UK High Commission in New Delhi. We have requested the UK side to extradite him to face trial in India," said Vikas Swarup, the official spokesperson of the ministry.The Total Investment & Insurance Solutions

Passenger cars sales surged 14.40% last month: SIAM -The Total Investment & Insurance Solutions

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9 February 2017
Passenger cars (The Total Investment & Insurance Solutions)

 The total domestic passenger vehicle sales rose by 14.40 per cent in January, industry data showed on Thursday. The Total Investment & Insurance Solutions


According to the Society of Indian Automobile Manufacturers (SIAM), total sales of passenger vehicles, which include cars, utility vehicles and vans, surged to 265,320 units last year from 231,917 units sold during the corresponding month of 2016. The Total Investment & Insurance Solutions


On the sub-segment basis, sales of passenger cars rose by 10.83 per cent in the month under review to 186,523 units from 168,303 units in January last year.

The utility vehicles' off-take during the month zoomed by 24.47 per cent to 62,264 units, while the sales of vans edged up by 21.65 per cent to 16,533 units.

In contrast, the industry data revealed that sales of overall commercial vehicles came down by 0.72 per cent to 61,239 units in January. The segment is a key indicator of economic activity.

The three-wheelers segment sales plunged by 28.21 per cent to 31,345 units during the month.

In addition, overall sales of two-wheelers, which include scooters, motorcycles and mopeds, declined by 7.39 per cent to 1,262,141 units. The Total Investment & Insurance Solutions


Product-wise, scooter sales in the month under review dipped by 14.50 per cent to 373,382 units, while the motorcycle sub-segment sales logged a decline of 6.07 per cent to 819,386 units.

On the other hand, mopeds' off-take augmented by 28.83 per cent to 69,373 units.

The industry data disclosed that the Indian automobile sector reported a decline of 4.71 per cent during January 2017 -- with total sales at 1,620,045 units across segments and categories.

Moreover, the overall exports across categories slipped by 7.67 per cent to 255,301 units which were shipped out during last month.The Total Investment & Insurance Solutions