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9
July 2018
The
major indices of the Indian stock markets rallied on Monday and closed with
gains over Friday’s close. On the NSE, there were 1,197 advances, 544 declines
and 337 unchanged. The trends of the major indices in the course of Monday’s
trading are given in the table below:
Firm
Asian cues lifted the key Indian equity indices on Monday. According to market
analysts, investor sentiments in the Asian markets were supported by a healthy
US jobs data released on Friday. In the domestic indices, they said, buying was
witnessed in the banking, auto and metal stocks. Hiring activity increased by
9% in June 2018, on a year-on-year basis, according to a jobs site which tracks
the numbers. The Naukri JobSpeak Index for June 2018 was at 2,047, marking a
nine per cent increase in hiring activity from June 2017. The index was at
1,885 in June 2017. According to naukri.com, the index has been calculated
based on job listings added to the site month-on-month. July 2008 has been
taken as the base month with a score of 1,000. The auto and ancillary sector
witnessed the highest growth of 26% in hiring, followed by telecom industry
where recruitment grew by 23% in June, said a statement from the site. Hiring
in the real estate segment rose by 19% in June on a month-on-month basis, and
in banking and financial services, hiring was up 12%.
Fuel
prices across the four metro cities rose for the fourth straight day on Sunday
caused by hardening of crude rates due to resumption of US sanctions on Iran,
after they had been declining for over a month. The Q1, 2018-19, earnings
result season will kick off from next week. IT major Tata Consultancy Services
(TCS) is expected to be the first bluechip firm to come out with its Q1 result
on July 10. Other companies like Infosys, IndusInd Bank, Cyient and Indian
Overseas Bank are also expected to announce their Q1 earning results during the
week.
In
corporate news, Dr Reddy's Laboratories have entered into a distribution and
co-promotion agreement for Briviact®, a brand of brivaracetam. The agreement
has granted Dr. Reddy's the exclusive right to distribute Briviact® in India.
Briviact® is used in the treatment of partial-onset seizures in epilepsy
patients. The company’s shares closed at Rs2,330.10, up 2.69% on the NSE.
Cadila
Healthcare - Zydus received tentative approval from the USFDA to market
Deferasirox Tablets for Oral Suspension, a drug used to treat high levels of
iron in the body caused by multiple blood transfusion. Deferasirox Tablets has
an est. annual sale of US$ 150.3 million. The company’s shares closed at
Rs387.85, up 1.62% on the NSE.
SRF
Limited to setup a second Bi-axially Oriented Polyethylene Terephthalate
(BOPET) film line and a Resin plant in Thailand at an investment of approx. US$
60 million. Once operational, the new line will be capable of producing
approximately 40,000 MT per annum.
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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