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30
November 2018
I had
mentioned in last week’s closing report that Nifty, Sensex might head lower.
The major indices of the Indian stock markets rallied strongly during the week
and closed on Friday with weekly gains of over 3% over last Friday’s close. The
trends of the major indices in the course of the week’s trading are given in
the table below:
The
major indices of the Indian stock markets rallied on Monday and closed with
gains over Friday’s close. On the NSE, there were 681 advances, 1,033 declines
and 359 unchanged.
India's
benchmark stock indices advanced about 1% on Monday, as investors stepped up
equity purchases after a string of declines last week. Firm Asian cues, and a
persistent decline in global crude oil prices also buoyed investor sentiment,
sending the Sensex over 370 points higher, while the broader Nifty topped the
10,600-mark. Buying was witnessed in the FMCG (fast moving consumer goods) and
consumer durables stocks. The index pivotals -- finance and banking -- were
1.32% and 1% higher, respectively. Export-oriented stocks like IT (information
technology) gained, while the healthcare traded lower. The overall market
breadth was negative, with 1,067 stocks advancing and 1,536 declining on
account of a 0.15% fall in the small-caps.
HEG
reported that its Board approved a proposal to buy back upto 13.63 lakh shares
(3.41%) of the company for an aggregate amount not exceeding Rs750 crore at a
price of Rs5,500 per equity share.
Lupin
has received approval for its Clomipramine HCl Capsules USP, a generic version
of SpecGx's Anafranil Capsules, from the US FDA. It is indicated for the
treatment of obsessions and compulsions in patients with OCD. Lupin has also
received approval for its Potassium Chloride for Oral Solution USP, 20 mEq from
the US FDA. It is indicated for the treatment and prophylaxis of
hypokalemia with or without metabolic alkalosis.
The
major indices of the Indian stock markets rallied, after a dip, on Tuesday and
closed with gains over Monday’s close. On the NSE, there were 792 advances, 921
declines and 342 unchanged.
The
key equity indices were higher on Tuesday, but banking stocks were subdued.
Buying was witnessed in energy and IT (information technology) stocks. On
Monday, the Centre's recapitalization announcement of Rs42,000 crore to
unhealthy PSU (public sector undertakings) banks boosted investor sentiments.
Currently, 11 of the 21 state-run banks are under RBI's (Reserve Bank of India)
Prompt corrective action (PCA) framework which restricts weak banks from
carrying out certain operations.
Granules
India has received USFDA (Food and Drug Administration) approval for its ANDA
for Methylphenidate Hydrochloride Extended-Release Tablets USP. The approved
ANDA is therapeutically equivalent to the RLD - Ritalin SR Sustained-Release
Tablets of Novartis Pharmaceuticals.
Alembic
Pharmaceuticals has received approval from the USFDA for its ANDA Temazepam
Capsules USP, therapeutically equivalent to RLD, Restoril Capsules of SpecGx
LLC. Temazepam Capsules are indicated for short term treatment of
insomnia.
The
major indices of the Indian stock markets rallied on Wednesday and closed with
gains over Tuesday’s close. On the NSE, there were 593 advances, 1,131 declines
and 340 unchanged.
The
benchmark S&P BSE Sensex advanced 200 points on Wednesday, extending its
third straight session of gains led by strong gains in the IT (information
technology) stocks. In addition, the markets also took cues from an
appreciating rupee and retreating foreign fund inflow as India's macro-economic
conditions improved largely owing to declining crude oil prices. However, the Brent
Crude prices logged a slight increase which comes ahead of the OPEC
(Organisation of Petroleum Exporting Countries) meeting next week. The
benchmark crude price traded at $61 a barrel. The local currency strengthened
to Rs70.66 against a US dollar from its previous close of 70.76. IT stocks led
the gains on Sensex, followed by Teck (technology, entertainment and media). In
contrast, healthcare, oil and gas stocks witnessed selling pressure.
Appearing
before the Parliamentary Standing Committee on Finance, RBI (Reserve Bank of
India) Governor Urjit Patel said that the effect of demonetisation was
temporary while he will respond to issues related to the RBI's autonomy and
reserves in the next 10 to 15 days in the midst of differences with the government.
YES
Bank's foreign currency issuer ratings was downgraded to Ba1 from Baa3 by
Moody's Investors Service. The outlook, where applicable, has been changed to
negative from stable.
Cadila
Healthcare reported that Zydus Cadila has received final approval from the
USFDA (Food and Drug Administration) to market Baclofen Tablets (US RLD-
Lioresal®). Baclofen is used to treat muscle spasms caused by certain
conditions such as multiple sclerosis, spinal cord injury/ disease.
The
major indices of the Indian stock markets rallied strongly on Thursday and
closed with gains over Wednesday’s close. On the NSE, there were 863 advances,
858 declines and 342 unchanged.
India's
equity indices jumped on Thursday, their fourth straight session of gains, amid
expectations the US Federal Reserve would slow its pace of interest rate
increases. Doubts about the Fed's future tightening also spurred the domestic
currency, with the rupee vaulting 74 paise so far on Thursday's trade. The
financials, which led the gains, were up over 1.5% while selling pressure was
witnessed in the export-dependent IT (information technology) stocks as the
rupee strengthened to Rs69.88 per US dollar from its previous close of 70.62.
Private
sector ICICI Bank Ltd will grow its retail loan by 40% in Tamil Nadu, said a
senior official. Speaking to reporters here, Anup Bagchi, Executive Director,
said the company is expecting to grow retail loan disbursement in Tamil Nadu by
over 40% to Rs13,000 crore this fiscal. He said the growth will happen across
retail loans like consumer, home, agriculture. This fiscal ICICI Bank plans to
grow its disbursement of consumer loans by nearly 50% to Rs5,000 crore. The
bank will also increase its home loan disbursement by nearly 40% to Rs3,700
crore. Within the home loans portfolio, the bank is focusing on the affordable
housing segment and expanding its presence across tier two and three markets.
The
major indices of the Indian markets closed on Friday with minor gains over
Thursday’s close. On the NSE, there were 897 advances, 822 declines and 343
unchanged.
The
key equity indices settled on a flat-to-positive note on Friday amid concerns
falling crude oil prices and an inflow of foreign funds. However, markets had
reversed initial gains to slip in the red during the late afternoon session of
trade as investors turned cautious ahead of the release of key macro-economic
data. Q2 GDP, fiscal deficit and core sector growth data will be released later
in the day. Banking, oil and gas and telecom stocks witnessed selling pressure
on the BSE. In contrast, IT, realty and healthcare stocks outperformed the
benchmark index, gaining 1%-2%.
Reserve
Bank of India (RBI) has relaxed the rules to sell or securitise NBFCs’
(non-banking finance companies) loan books to ease persistent stress in the
sector. In a bid to help non-banking finance companies overcome liquidity
issues in the backdrop of the IL&FS imbroglio, RBI has cut the minimum
holding period requirement for NBFCs raising funds via securitisation of loans
of original maturity above 5 years. In respect of loans of original maturity
above 5 years, the minimum number of instalments to be paid before
securitisation is now six monthly instalments (12 earlier) or two quarterly
instalments (four).The Total Investment
& Insurance Solutions
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Major Indices (The Total Investment
& Insurance Solutions)
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