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15
June 2018
 |
Major Indices (The Total
Investment & Insurance Solutions)
On Friday,
the key equity indices opened near previous day’s closing price and faced
turbulence in the last few hours and ended flat. On the NSE, there were 665
advances, 1050 declines and 340 unchanged. The trends of the major indices in
the course of the Friday’s trading are given in the table below:
Broadly
weak global markets and the continuous outflow of foreign funds led the key
Indian equity indices to provisionally close on a flattish note on Friday.The
day's trade saw a "gap-up opening" in both the NSE Nifty50 and the
S&P BSE Sensex. Heavy selling pressure in metal, banking and capital goods
stocks eroded investors sentiments. However, a last hour buying spree in IT and
healthcare counters helped the indices to close in the green.
The
major indices of the Indian stock markets were volatile on Monday and closed
with minor gains. The State Bank of India (SBI), the country's largest public
sector lender, recorded its highest non-performing asset (NPAs) of Rs1.1 lakh
crore in 2017-18, almost equal to what it had registered in the decade before,
according to information available through RTI and the bank's annual report.
SBI shares closed at Rs273.60, up 0.22% on the NSE. Alembic Pharmaceuticals
announced that it has received approval from the US health regulator for
generic Fluoxetine Hydrochloride tablets used for the treatment of depression
and panic disorder. The approval is for the generic version of Eli Lilly and
Company’s Prozac tablets in the same strengths, Alembic Pharma said in a BSE
filing today.
On
Tuesday, the major indices of the Indian stock markets gained by about 0.5%
against the backdrop of the Kim-Trump meeting in Singapore. India's industrial
output rose by 4.9% in April 2018 from a rise of 4.57% in March, official data
showed on Tuesday. According to the data furnished by the Central Statistics
Office (CSO), the corresponding growth during April 2017 stood at
3.2%."The General Index for the month of April 2018 stands at 123, which
is 4.9% higher as compared to the level in the month of April 2017," CSO
said in the "Quick estimates of index of Industrial Production. The
cumulative growth for the period April-March 2017-18 over the corresponding
period of the previous year stands at 4.3%." The combined push of food and
fuel prices continued to drive up retail inflation in India in May towards the
5% mark, official data showed on Tuesday.
As
per numbers furnished by the Central Statistics Office, the consumer price
index (CPI) inflation in May stood at 4.87%, recording more than double the
growth over the 2.18% recorded in May last year, and up from the 4.58% in April
2018. The Total Investment & Insurance Solutions
On
Wednesday the major indices closed with minor gains. The Union Cabinet on
Wednesday approved a Rs 24,000 crore foreign direct investment (FDI) as
additional share capital into private sector HDFC Bank. After trending up for
three days, the major indices opened lower on Thursday and closed with losses.
On Thursday, the government reported a major spurt in food and fuel prices in
the country pushed the wholesale price index (WPI) for May to 4.43%, to nearly
double over the 2.26% registered in May last year and higher than the 3.18%
recorded in April, 2018, Commerce Ministry. Lending major ICICI Bank on
Wednesday said that its Board has approved the sale of up to 2% in the joint
venture, ICICI Prudential Life Insurance, in one or more tranches. The bank, in
a BSE filing, said that the sales can be carried out "in any manner
permissible under applicable law, including through an 'offer for sale by
promoters through stock exchange mechanism'".
Fitch
Ratings on Friday, while affirming its long-term issuer default rating (IDRs)
on Axis Bank to 'bbb-' has revised outlook on the lender to 'negative' from
'stable'. "The Negative Outlook on Axis's IDR reflects rising pressure on
its standalone profile relative to banks with a Viability Rating of 'bbb-',
stemming from heightened asset-quality stress and weak earnings. Its capital
buffers are less comfortable for its current rating despite raising fresh
capital," the ratings agency says. Fitch also affirmed its IDR on ICICI
Bank to 'BBB-', while downgrading the Bank's Support Rating to '3', from '2',
and revising its Support Rating Floor to 'BB+', from 'BBB-'. The Outlook on
ICICI is Stable. The ratings agency feels that ICICI's capital buffers are
better even though it has experienced similar financial deterioration in the
previous few years.
The
Board of Indian IT major Tata Consulting Services (TCS) on Friday approved to
buy back 7,61,90,476 equity shares of Re 1 face value at Rs 2,100 per share for
about Rs 16,000 crore (over $2 billion)."The buyback size is 1.99 per cent
of the total paid-up equity share capital," the city-based firm said in a
regulatory filing on the BSE. This is the second time the global software major
is resorting to buy back its shares after it bought 5.61-crore shares in April
2017 for Rs 16,000 crore at Rs 2,850 per share. "The buyback will be on a
proportionate basis under the tender offer route in accordance with the
provisions of the SEBI regulations and the Companies Act, 2013," said the
filing. The offer, however, does not include expenses incurred for the buyback
and is subject to approval by the shareholder by a special resolution through a
postal ballot.The Total Investment & Insurance
Solutions
Top Gainer (The Total Investment & Insurance Solutions)
Asian Indices (The Total Investment & Insurance Solutions)
Weekly Indices (The Total Investment & Insurance Solutions)
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