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22
November 2018
I had
mentioned in Wednesday’s closing report that Nifty, Sensex might try to rally.
The major indices of the Indian stock markets suffered a further correction on
Thursday and closed with losses over Wednesday’s close. On the NSE, there were
671 advances, 1,042 declines and 350 unchanged. The trends of the major indices
in the course of Thursday’s trading are given in the table below:
The key
equity indices traded lower on Thursday after ceding initial gains owing to
profit booking. Although the indices traded in the red, the overall market
breadth was positive with 1,245 advances and 1,159 declines. Also, a decline in
crude oil prices and a strengthening rupee capped further losses. The domestic
currency rose to Rs71.13 from its previous close of 71.45 while the benchmark
Brent Crude traded $63.37 a barrel. Selling pressure was witnessed in the metal
and power stocks which fell over 1% whereas the index pivotals -- finance and
banking -- were 0.27% and 0.66% lower from its previous close.
Housing
finance company DHFL reported a whopping 52% rise in net profit for the second
quarter ending September at Rs439 crore on the back of improved operating
performance. According to a DHFL statement, the company posted a profit after
tax (PAT) of Rs288 crore in the same quarter last year. DHFL said its assets
under management (AUM) as on the end of the quarter in consideration at
Rs1,30,182 crore grew by 38% over Rs94,079 crore at the end of the same quarter
last year. The company's total income during the July-September quarter at
Rs3,468 crore was up 32% over Rs2,632 crore earned in the corresponding quarter
of the previous year. Loan book outstanding during the second quarter at
Rs1,10,093 crore grew 35% over Rs81,380 crore on this count during the
corresponding quarter of the previous year. The market perhaps does not believe
in the data. DHFL shares closed at Rs232.40, down 1.06% on the BSE.
Automobile
major Maruti Suzuki India launched the next generation of its multi-utility
vehicle 'next gen Ertiga'. According to the company, the new vehicle's petrol
powered version is priced between Rs7.44 lakh and Rs9.95 lakh while the diesel
fuelled variant costs between Rs8.84 lakh and Rs10.90 lakh. Maruti Suzuki
shares closed at Rs7,409.95, down 0.08% on the BSE.
Indoco
Remedies reported that the US FDA (Food and Drug Administration) has conducted
an inspection at the company's Sterile facility (Plant II) and Solid Dosages
facility (Plant III) situated at Verna Industrial Estate, Goa and concluded
with two minor observations. The company’s shares closed at Rs206.40, up 20% on
the BSE.
Pennar
Industries reported that the Pennar Group has bagged orders worth Rs317 crore
across its various business verticals and the subsidiary, PEBS Pennar. The
company’s shares closed at Rs37.80, down 0.40% on the BSE.
Glenmark
Pharma has been granted final approval by the US FDA for Atovaquone Oral
Suspension USP, a generic version of GSK's Mepron® Oral Suspension. The
company’s shares closed at Rs638.95, down 0.35% on the BSE.
GMR
Infra reported that the Kakinada Gateway Port, a subsidiary of Kakinada SEZ,
has signed the Concession Agreement with Government of Andhra Pradesh for the
development of green-field commercial port on DBFOT basis on Kona Village, East
Godavari with an investment of Rs2,100 crore. The company’s shares closed at
Rs16.10, down 1.83% 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 Investment
& Insurance Solutions)
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