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15
January 2018
I had
mentioned in Friday’s closing report that Nifty, Sensex were trending higher.
The major indices of the Indian stock markets rallied on Monday and closed with
gains over Friday’s close. On the NSE, there were 857 advances, 863 declines
and 259 unchanged. The trends of the major indices in the course of Monday’s
trading are given in the table below:
 |
Major Indices (The Total
Investment & Insurance Solutions)
Aided
by good positive macro-economic data and encouraging corporate earnings, the
key Indian equity indices on Monday afternoon were trading higher, after
touching record highs in the early morning session. Benchmark indices hit
another life time highs, following Asian shares that hit historic highs on
Monday after Wall Street extended its record-breaking run, while the US dollar
retreat continued, as investors priced in the risk of tighter policies
elsewhere in the developed world, also good positive macro-economic data and
encouraging corporate earnings, pointed out market analysts. India's annual
rate of inflation based on wholesale prices eased to 3.58% in December,
official data showed on Monday.
IDFC
Bank on Saturday announced its merger with non-banking financial company
Capital First. "The Board of Directors of IDFC Bank Ltd... have considered
and approved a composite scheme of amalgamation of Capital First Ltd, Capital
First Home Finance Ltd and Capital First Securities Ltd..." IDFC Bank
informed the BSE in a regulatory filing. The regulatory filing said the board
has appointed Bipin Gemani as the interim Chief Financial Officer and key
Managerial Personnel of the bank with effect from January 13. IDFC Bank shares
closed at Rs64.25, down 5.03% on the BSE.
India's
job market grew 10% in December 2017 compared to the corresponding month in
2016, a report by Naukri.com said here on Monday. "The job market
continues to sustain the momentum gained in November. The (Naukri.com) JobSpeak
Index has witnessed a 10% y-o-y (year-on-year) growth in December. Non-IT
(information technology) sectors like industrial products, construction,
engineering, auto and BFSI (banking, financial services and insurance) have led
the growth for the past few months," said V. Suresh, Chief Sales Officer,
Naukri.com. He, however, added: "We could expect the job market to
be volatile for the next few more months before it heads north again."
Jobs in construction and engineering sector saw a growth of 31% and insurance
sector witnessed a growth of 21%. Jobs in banking and financial services grew
by 4% in December. In the same period jobs in BPO went up by 8% while that in
the IT and software services recorded a y-o-y growth of 2%. Key industries
like, production and maintenance, auto saw a growth of 42% and 31% respectively
in December 2017 when compared with December 2017, the report said. These
developments are likely to lead to a long term bullish trend in the Indian
stock markets.
The
World Economic Forum (WEF) on Sunday ranked India at the 30th position on a
global manufacturing index, five places below China, but higher than the other
BRICS members Brazil, Russia and South Africa. Releasing its Global
Manufacturing Index here on Sunday, WEF said Japan topped the rankings in its
"Readiness for the future of production report" on the basis of
developing the best structure of production. Regarding India, which had a total
manufacturing value of over $420 billion in 2016, the report said that its
manufacturing sector has grown by over 7% per annum on average in the past
three decades and accounts for 16%-20% of India's GDP. "Home to the
second-largest population in the world and one of the fastest growing
economies, the demand for Indian manufactured products is rising. India has
room for improvement across the drivers of production, except for demand
environment where it ranks in the top 5," the WEF said. This is also
likely to lead to a long term bullish trend in the Indian stock markets.
BSE's
India International Exchange (India Inx) said it has listed Indian Railways
Finance Corporation's (IRFC) first green bond on its global securities market.
According to India Inx, the 10 year $500 million worth bonds issued by IRFC
"are one of the highest credit rated bonds issued by an Indian
corporate". "India INX listed the first bond on its global
securities market with Minister of Railways and Coal Piyush Goyal ringing the
gong," the international stock exchange said in a statement. "Our
IRFC green bond is a commitment to sustainable development and we look forward
to serving the financial needs of India's rail transport infrastructure and
would be in a position to raise more funds as and when required," said
S.K. Pattanayak, Managing Director, IRFC. BSE's India Inx, which was
inaugurated on January 9, 2017, is the country's first capital raising platform
for international investors in any currency.
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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