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January 2018
I had
mentioned in Friday’s closing report that Nifty, Sensex were headed higher. On
Monday, the major indices of the Indian stock markets suffered a minor
correction and closed with small losses over Friday’s close. On Tuesday, the
major indices of the Indian stock markets were range-bound and ended flat
compared with Monday’s close. The trends of the major indices in the course of
Tuesday’s trading are given in the table below: The Total Investment & Insurance
Solutions
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Major Indices (The Total
Investment & Insurance Solutions)
Profit
booking along with low volumes and higher crude oil prices depressed key
indices of the Indian equity markets on Monday -- the first trading day of
2018. According to market analysts, selling pressure was witnessed in banking,
auto, metals, oil and gas and IT (information technology) stocks.
The
30-scrip S&P BSE Sensex, which had previously closed at 34,056.83 points,
ended the day's trade at 33,812.75 points, down 244.08 or 0.72%. Similarly, the
National Stock Exchange's (NSE) Nifty50 closed in the red at 10,435.55 points,
down by 95.15 points or 0.90%.
The Total Investment & Insurance Solutions
Markets
corrected sharply on Monday as selling pressure intensified in the last 45
minutes of trade. The indices traded in a narrow range in the initial part of
the session due to lack of any major domestic and global cues and as most other
Asian markets were shut due to New Year holiday, observed market analysts.
On
Tuesday, the key Indian equity indices were trading flat compared to Monday’s
close. On the NSE, there were 520 advances, 1,053 declines and 28 unchanged. The Total Investment & Insurance
Solutions
India's
manufacturing sector's activity expanded in December 2017 due to accelerated
increase in output and new orders, key macro-economic data showed on Tuesday.
Consequently, the Nikkei India Manufacturing Purchasing Managers' Index (PMI),
a composite indicator of manufacturing performance, increased to 54.7 in
December 2017 from 52.6 reported for November. An index reading of above 50
indicates an overall increase in economic activity and below 50 an overall
decrease. According to the PMI, the manufacturing sector ended 2017 on a
positive note, with "operating conditions improving at the strongest rate
in five years". As per the PMI data, the overall upturn was supported by
the sharpest increase in output and new orders since December 2012 and October
2016, respectively. Commenting on the PMI data, Aashna Dodhia, Economist at IHS
Markit and the author of the report, said: "Strong business performance
was underpinned by the fastest expansions in output and new orders since December
2012 and October 2016, respectively. Anecdotal evidence pointed to
stronger market demand from home and international markets. This is likely to
lead to a long-term bullish trend in the Indian stock markets.
Commercial
vehicles major Ashok Leyland Ltd on Tuesday said its sales grew by 79% last
month. In a statement issued here, the company said it sold 19,253 vehicles
last month, up from 10,731 vehicles sold in December 2016. For the period
April-December 2017, the company sold 116,141 vehicles up from 97,445 vehicles
sold in December 2016. Ashok Leyland shares closed at Rs123.35, up 4.09% on the
NSE. The Total
Investment & Insurance Solutions
State-run
gas transmission utility GAIL India (GAIL) said it has commissioned the
country's second biggest rooftop solar power plant in Uttar Pradesh. The 5.76
megawatt peak (MWp) captive solar plant at its petrochemical complex at Pata
will generate over 79 lakh kilowatt hour (KWh) of electricity, a GAIL statement
said here. "With an expected PLF (plant load factor) of around 15 per cent
annually, over 79 lakh KWh of electricity is targeted to be generated for
captive use of India's largest gas-based petrochemicals plant," it said.
GAIL shares closed at Rs494.35, down 0.91% on the NSE.
Coal
India Ltd (CIL) reported that it has produced 383.93 million tonnes (mt) during
the April to December period, but missed the target by 6%. However, the
state-run miner achieved a 7.6% growth in off-take to 421.41 mt during the
first nine months of the current fiscal as compared to 391.78 mt during same
period last year. Its off-take for December only stood at 53.44 mt, missing the
target of 53.84 mt for the last month by only 1%. CIL, which had a target to
produce 406.58 mt during the nine month period, clocked a 1.6% growth in
production from 377.77 mt produced in the same period last year, its
provisional data showed. Coal India shares closed at Rs270.05, up 1.33% on the
NSE.
The
top gainers and top losers of the major indices are given in the table below:
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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
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| Asian Indices (The Total Investment & Insurance Solutions) |
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