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05
November 2018
The
major indices of the Indian stock markets were range-bound on Monday and closed
with small losses over Friday’s close. On the NSE, there were 870 advances, 887
declines and 318 unchanged. The trends of the major indices in the course
Monday’s trading are given in the table below:
Negative
Asian markets and profit booking checked the upmove of equity indices on
Monday. Except for IT (information technology), selling pressure was witnessed
in almost all the counters led by the oil and gas stocks. Consumer durables,
banking and finance stocks also traded lower. The investor sentiments
were also weighed down ahead of the release of the key macro-economic data (PMI
service data) and a declining rupee. The domestic currency was trading 59 paise
lower, at 73.03 to a US dollar, from its Friday close of 72.44. In addition,
the benchmark Brent crude was below the $73 a barrel.
The
US on Monday unleashed its "toughest ever" sanctions against Iran, a
move that has already sparked mass protests in the oil-rich nation. US
President Donald Trump's administration reinstated all sanctions removed under
the 2015 nuclear deal, targeting both Iran and states that trade with it,
reports the BBC. More than 700 individuals, entities, vessels and aircraft were
now on the sanctions list, including major banks, oil exporters and shipping
companies.
The
Trump administration has granted exemptions to eight countries to continue
importing Iranian oil, without naming them. They are reported to include US
allies India, Italy, Japan and South Korea. Iranian President Hassan Rouhani
has vowed to sell his country's oil and break the sanctions. Iran's military
has said that it would hold air defence drills on Monday and Tuesday to prove
the country's capabilities. Before travelling to a campaign rally for the US
midterm elections, President Trump said Iran was already struggling under his
administration's policies.
Banking
and financial services major HSBC and Reliance Industries Ltd on Sunday said
that they have executed a first-of-its-kind blockchain trade finance
transaction, validating the commercial and operational viability of blockchain
as an alternative to conventional exchanges for paper-based documentation.
Reliance Industries shares closed at Rs1,092.00, up 1.59% on the NSE.
The
coming week is truncated on account of festivities in India, but (dotted with
an) important series of events within and outside the country. Trading at stock
exchanges won't take place on November 7th and 8th on account of Diwali, other
than the brief traditional Muhurat Trading on Diwali day.
Silicon
Valley-based online education platform, Udacity announced its collaboration with
Pune-based KPIT Technologies to upskill and also, build its engineering talent
ecosystem for autonomous technology in India, including self-driving cars and
autonomous flight. KPIT Technologies shares closed at Rs217.00, up 3.43% on the
NSE.
The
Steel Authority of India Ltd (SAIL) reported a standalone profit after tax of
Rs553.69 crore for the second quarter of 2018-19. The company had posted a net
loss of Rs539.06 crore in the July-September period of the previous financial
year. "The numbers indicate a fast recovery in the company's
profitability, operational performance and a collective effort towards driving
the full advantage of modernisation and expansion," the company said in a
statement. The company's turnover during the period under review rose 23% to
Rs16,541 crore. SAIL shares closed at Rs66.30, down 4.67% on the NSE.
State
Bank of India (SBI) reported Q2FY19 standalone results with net interest income
(NII) at Rs20,905.69 crore (Rs18,585.90 crore), up 12.5% year-on-year. Net
profit was at Rs944.87 crore (Rs1,581.55 crore), down 40.3% year-on-year.
Provisions were at Rs10,184.50 crore (Rs16,715.20 crore). Gross non-performing
assets (GNPA) were at 9.95% (9.83%) and Net non-performing assets (NNPA) were
at 4.84% (5.43%). SBI shares closed at Rs295.30, up 3.45% on the BSE.
Indraprastha
Gas reported Q2FY19 results with revenues at Rs1,568.73 crore (Rs1,231.35
crore), up 27.4% year-on-year. Profit after tax was at Rs187.23 crore (Rs168.87
crore), up 10.90% year-on-year. Earnings per share were at Rs2.68
(Rs2.41). Indraprastha Gas shares closed at Rs284.25, up 0.85% on the NSE.
Natco
Pharma reported Q2FY19 consolidated results with revenues at Rs543.50 crore
(Rs426.70 crore), up 27.40% year-on-year. Net profit was at Rs182.50 crore
(Rs84.80 crore), up 115.20% year-on-year. Earnings per share were at Rs9.89
(Rs4.82). Natco Pharma shares closed at Rs757.00, down 2.29% on the NSE.
Exide
Industries reported Q2FY19 results with revenues at Rs2,720.35 crore (Rs2,58.37
crore), up 15.30% year-on-year. Net profit was at Rs268.41 crore (Rs135.52
crore), up 98.81% year-on-year. Earnings per share were Rs3.16 (Rs1.60).
Interim dividend of Rs1.60 per share was declared. Exide Industries shares
closed at Rs250.90, down 1.05% on the NSE.
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: The Total
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Major Indices (The Total
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