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April 2018
I had mentioned in Monday’s closing report that Nifty, Sensex might be
headed for more gains. The major indices closed with small gains over Monday’s
close. On the NSE, there were 1,197 advances, 359 declines and 56 unchanged.
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)
Asian
markets fell after US stocks closed sharply lower hit by uncertainty
surrounding trade policy and weakness in shares of technology and internet
companies, pointed out market analysts. The White House has slammed China after
it imposed retaliatory tariffs as high as 25% on 128 American products, including
pork and wine. Beijing's tit-for-tat move came on Monday following US President
Donald Trump's decision to slap trade charges of up to $60 billion on Chinese
imports on March 22. Trump did not revoke them despite Beijing's stern warning.
Reacting angrily to Beijing's action, the White House said: "Instead of
targeting fairly traded US exports, China needs to stop its unfair trading
practices which are harming US national security and distorting global
markets." "China's subsidisation and continued overcapacity is the
root cause of the steel crises," spokeswoman Lindsay Walters said. The
back-and-forth measures reflected the escalating tensions between the US and
China, which President Trump has described as an "economic enemy",
the BBC reported on Tuesday. These factors could continue to cause uncertainty
in the Indian stock markets.
At its first bi-monthly monetary policy review of the new fiscal, the
RBI is expected to continue with its stance of the previous year when the
central bank kept its key interest rate unchanged at 6 per cent over three
successive reviews. Although hopeful of a cut in the Reserve Bank of India's
repo, or short-term lending rate for commercial banks, India Inc expects the
regulator to also maintain its 'neutral' stance on monetary policy that allows
the RBI room for moving either way on rates. The Total Investment & Insurance Solutions
Lower production of refinery products slowed the pace of India's eight
major industries' output in February, official data showed. The Index of Eight
Core Industries (ECI), which represent the output of major sectors like coal,
steel, cement and electricity rose by 5.3% last month compared to an increase
of 6.1% in January. However, on a year-on-year basis, the ECI showed an
uptrend. It had inched up by 0.6% in the corresponding month of 2017. "The
combined Index of ECI stood at 123.1 in February 2018, which was 5.3% higher as
compared to the index of February 2017," said the Commerce & Industry
Ministry. "Its cumulative growth during April to February 2017-18 was
4.3%." The ECI index carries 40.27% weightage of the Index of Industrial
Production (IIP) which is the macro-gauge for India's factory output. On a
sector-specific basis, refinery products, which have the highest weightage of
28.03%, grew by 7.8% in February 2018 as compared with the corresponding month
of the last fiscal. Reliance Industries shares closed at Rs899.55, up 0.90% on
the NSE. The Total Investment &
Insurance Solutions
Mahindra
and Mahindra (M&M) reported a 10% year-on-year rise in its automobile sales
during March 2018. According to the company, total auto sales including exports
in March 2018 increased to 62,077 units, against 56,202 units sold during the
same month last year. Besides, M&M's domestic sales rose by 10% to 58,653
vehicles from 53,493 vehicles sold in March 2017. Segment-wise, sales of domestic
passenger vehicle category which includes utility vehicles, cars and vans stood
at 26,555 vehicles as against 25,523 vehicles sold during March 2017,
registering a growth of 4%. The commercial vehicle segment of the domestic
market, the automobile major sold 25,496 vehicles in the month under review, up
11% on a year-on-year basis. In addition, exports in March 2018 stood at 3,424
units, up 26% from 2,709 units which were shipped out in March 2017. The
company’s shares closed at Rs770.10, up 2.93% 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)
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| Asian Indices (The Total Investment & Insurance Solutions) |
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