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24
April 2018
I had mentioned in Monday’s closing report that Nifty, Sensex were
overbought, but were on an uptrend. The major indices of the Indian stock
markets saw an uptrend on Tuesday and closed with small gains over Monday’s
close. On the NSE, there were 125 advances, 100 declines and 1,822 unchanged.
The BSE market breadth remained bearish with 1,479 declines and 1,191 advances.
The trends of the major indices in the course of Tuesday’s trading are given in
the table below: The Total Investment
& Insurance Solutions
 |
Major Indices (The Total
Investment & Insurance Solutions)
Buying
in oil and gas, banking and auto stocks, coupled with broadly positive global
cues, lifted the key Indian equity indices on Tuesday. Index heavyweights like
Reliance Industries (RIL), Yes Bank, Adani Ports, Mahindra and Mahindra, and
Larsen and Toubro were the top gainers on the BSE. Selling pressure in metals,
IT (information technology) and consumer durables stocks trimmed some gains of
the benchmark indices, market observers said.
The
Odisha government on Tuesday hiked the dearness allowance (DA) for state
government employees by 2%. The hike will be implemented with retrospective
effect from January 1, 2018, said a statement from the Chief Minister's Office
(CMO). Chief Minister Naveen Patnaik had approved a proposal to implement the
hike. With the hike, the total increase is now 7%. The state government also
hiked Dearness Relief (TI) for the pensioners. The pensioners drawing a pension
at the pre-revised rate will get a hiked TI of 2%. The pensioners drawing
pension not at a pre-revised rate will get an additional TI of 3%, the
statement added. These measures are likely to give inflation relief and
increase the aggregate purchasing power of the public, and hence assist in
leading the Indian stock markets to a long term bullish trend. The
Total Investment & Insurance Solutions
Xiaomi
continued to lead the Indian smartphone market with 31.1% market share while
Reliance Jio topped the feature phone market with a massive 35.8% share in the first
quarter of 2018, a new report has said. Reliance Industries shares closed at
Rs969.75, up 3.70% on the BSE.
The
State Bank of Pakistan on Monday voiced its concerns over the surmounting value
of US dollar against Pakistani rupee in the open market. Currency markets in
the Indian sub-continent could see some turbulence in this context.
Reliance
Infrastructure (RInfra) reported a rise of 291% in its consolidated net profit
for the fourth quarter of 2017-18. According to the company, the consolidated
net profit increased to Rs160 crore from Rs41 crore reported for the
corresponding period of previous fiscal. "If we exclude Mumbai Metro loss
of Rs43 crore and RNaval loss of Rs130 crore in Q4 FY18, Net Profit would have
been higher by 135% year-on-year to Rs333 crore," the company said in a
statement. The company's consolidated total income during the quarter under
review increased by 12% to Rs6,737 crore ($1 billion). In addition, the firm's
earnings before interest, taxes, depreciation and amortization (EBITDA) during
Q4 rose by 50% to Rs2,399 crore ($368 million). On a financial year basis,
RInfra reported a consolidated net profit of Rs1,339 crore ($206 million) for
2017-18. "FY18 net profit of Rs1,888 crore ($290 million) -- up 1% (prior
to Mumbai Metro loss of Rs238 crore and RNAVAL loss of Rs311 crore)," the
statement said. The company’s shares closed at Rs450.90, up 0.26% on the NSE.
Airline
major Jet Airways said that it will operate flights between India and Mexico
under a 'codeshare agreement' with AeroMexico. Jet Airways’ shares closed at
Rs625.90, up 1.25% on the NSE. The Total Investment & Insurance
Solutions
LIC
Housing Finance Company Ltd said it closed last fiscal with a net profit of
Rs1,989.58 crore. In a regulatory filing in BSE, the company said it had posted
a net profit of Rs1,989.58 crore last fiscal up from Rs1,931.05 crore posted
during the year ended March 31, 2017, while its total income for last fiscal
stood at Rs15,072.90 crore up from Rs14,080.34 crore for the year ended March
31, 2017. The Board of Directors of the company have recommended a dividend of
Rs.6.80 per equity share of Rs2 each for fiscal 2017-18. The dividend on equity
shares, will be paid on or after August 20, 2018, the company said. The
company’s shares closed at Rs544.25, down 1.13% on the NSE.
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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