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11
June 2018
The
major indices of the Indian stock markets were volatile on Monday and closed
with minor gains over Friday’s close. On the NSE, there were 1,013 advances,
712 declines and 348 unchanged. The trends of the major indices in the course
of Monday’s trading are given in the table below:
Sales
of domestic passenger cars edged higher by 19.64% in May 2018, industry data
showed on Monday. The S & P BSE Auto Index closed at 24,989.32, up 0.12% on
the BSE.
State-run
Allahabad Bank, which referred 65 stressed accounts involving around Rs12,566
crore to the NCLT for IBC resolution during last fiscal, is focusing on
recovery and rebalancing its loan book with emphasis on small, micro,
agriculture and retail advances, it claimed. Allahabad Bank shares closed at Rs45.55,
down 1.62% on the NSE.
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.
Monetary
policy announcements by global central banks coupled with the upcoming release
of major macro-economic data points on industrial production and inflation are
expected to set the trend for the domestic equity indices. According to market
observers, other key factors such as rupee's movements against the US dollar
and fluctuations in crude oil prices as well as developments on monsoon's
progress will impact investors' risk-taking appetite. This week will have a
flurry of economic data for India. "A negative surprise in inflation data
would reinforce the hawkish stance of RBI (Reserve Bank of India). A weaker
external sector data would have an impact on INR, especially during a negative
EM (emerging markets) sentiment. IIP (Index of Industrial Production) would be
watched closely for an ongoing economic expansion,” pointed out market
analysts.
The
Central Statistics Office (CSO) is slated to release the macro-economic data
points of IIP and CPI (Consumer Price Index) on June 12. Subsequently, other
major macro-economic data points such as WPI (Wholesale Price Index), Current
Account Deficit and Balance of Trade figures will be released. On the global
front, monetary policy announcements by the US Federal Reserve, ECB (European
Central Bank) and the Bank of Japan (BoJ) will form major themes for the week.
The US Fed rate move and language will set the tone for sentiment in EM (emerging
markets) as well Indian markets. The key is whether the US Fed pays attention
to the vulnerable EM situation. Besides, the movement of Indian rupee against
the US dollar and fluctuations in global crude oil prices will also set the
course for the key indices.
Alembic
Pharmaceuticals 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. The
tablets are indicated for treatment of major depressive disorder and obsessive
compulsive disorder in adult and paediatric patients, it said. They are also
indicated for treatment of binge—eating and vomiting behaviour in moderate to
severe Bulimia Nervosa and acute treatment of panic disorder, in adult
patients. “The company has received approval from the US Food and Drug
Administration (USFDA) for its abbreviated new drug application for Fluoxetine
Hydrochloride tablets, 10 mg and 20 mg”, it said. These tablets have an
estimated market size of USD 120 million for 12 months ending December 2015
according to IMS, the company added. Alembic Pharmaceuticals’ shares closed at
Rs521.25, up 19.87% on the BSE.
The
top gainers and top losers of the major indices are given in the table below:
The
closing values of the major Asian indices are given in the table below:
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Major Indices (The Total
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