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8
January 2018
I had
mentioned in Friday’s closing report that Nifty, Sensex were continuing to be
on an uptrend. On Monday, the major indices of the Indian stock markets rallied
and closed with gains over Friday’s close. On the NSE, there were 1,048
advances, 700 declines and 273 unchanged. 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)
Key
Indian equity indices on Monday closed on a higher note prompted by strong
global cues, along with buying in capital goods, healthcare and banking stocks.
The wider Nifty50 of the National Stock Exchange (NSE) closed above the
10,600-level for the first time. The Nifty50 touched a fresh intra-day high
level of 10,631.20 points. The barometer 30-scrip Sensitive Index (Sensex) of
the BSE too scaled a new intra-day high of 34,385.67 points.
The
State Bank of India (SBI) on Monday said it will raise over Rs12,600 crore ($2
billion) by issuing bonds in dollar or other convertible currencies. "The
executive committee of the Central Board... has approved long term fund raising
in single/multiple tranches up to $2 billion," the state-run bank informed
in a regulatory filing to the BSE. The BSE filing added that raising of funds
would be done through a public offer and/or private placement of senior unsecured
notes in US dollar or any other convertible currency during FY 2017-18 and FY
2018-19. SBI shares closed at Rs305.80, down 0.10% on the NSE.
The
upcoming quarterly results season, along with the release of macro-economic
data points on industrial production and inflation, are expected to determine
the trajectory of key equity indices this week. According to market observers,
global cues such as crude oil prices, combined with the direction of foreign
fund flows and the rupee's movement against the US dollar, will also impact
investors' risk-taking appetite. Earnings season for Q3 (third quarter) with
IndusInd Bank and TCS (Tata Consultancy Services) release would be closely
watched, as the same have to catch up with the recent PE (price-to-earnings) expansion,
pointed out market analysts. The CPI (Consumer Price Index) data out on Friday
would be closely watched. If much above 5%, this would dampen the sentiment in
the markets, especially for the banking and NBFC sectors given the fact that
the GDP (2017-18) provisional estimates were already lower, observed market
analysts. The Q3 earnings result season will be kicked-off from this week. IT
(information technology) major TCS is expected to be the first blue-chip firm
to come out with its Q3 result on January 11, (Thursday).
Finance
Minister Arun Jaitley on Saturday said that Indian taxpayers were making a
sacrifice to keep the banking system in good health and hence the performance
of banks would be under the lens over the next few years. He said the government's
Rs2.12 lakh crore recapitalisation plan was to keep banks in good health, which
was "extremely" important for the economy. "The tax payers
in India are making a sacrifice to keep the banking system in good health. This
money which is being infused could be used in other social purposes. But that
is the money being infused into the banking system to make sure that you are
kept in good health so that you (banks) are able to improve the credit growth
and growth processes in the country," Jaitley said at the 75th anniversary
celebration of the UCO Bank. “So it is your responsibility to come out with a
much faster pace and in much better health." The S & P BSE Bankex
closed at 29,036.95, up 0.35% on the BSE. The Total Investment & Insurance
Solutions
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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