Contact Your Financial Adviser Money Making MC
13
November 2018
I had
mentioned in Monday’s closing report that Nifty, Sensex were under pressure.
The major indices of the Indian stock markets rallied on Tuesday and closed
with gains over Monday’s close. On the NSE, there were 875 advances, 848
declines and 339 unchanged. The trends of the major indices in the course of
Tuesday’s trading are given in the table below:
Positive
global cues along with an ease in global crude oil prices pushed the key equity
indices in the green on Tuesday. The benchmark Brent Crude eased to $69.38 a
barrel after it surpassed the $71 mark on Monday. As a result, S&P BSE Oil
and gas index gained 1.43, most among all the 19 sectors on BSE. However, the
index pivotals - finance and banking stocks - traded in red. Oil prices fell by
more than 1% on Tuesday, with Brent crude sliding below $70 a barrel and WTI
below $60 per barrel, after US President Donald Trump put pressure on OPEC not
to cut supply to prop up the market, said market analysts. US West Texas
Intermediate (WTI) crude oil futures were at $59.06 per barrel at 0115 GMT,
down 87 cents, or 1.5% from their last settlement. We are expecting a
correction again in crude oil towards $58 to $55 in WTI Crude oil, analysts
added.
Oil
markets are entering a period of renewed uncertainty and volatility, including
a possible supply gap in the early 2020s, the International Energy Agency (IEA)
said on Tuesday.
Jet
Airways reported a net loss of Rs1,297.46 crore for the second quarter ended
September, against a net profit of Rs49.63 crore a year ago. On a consolidated
basis, the airline's net loss stood at Rs1,261 crore for the second quarter of the
current fiscal year ending March, against a net profit of Rs71 crore in the
year-ago quarter. The private carrier said that it faced a tough industry
environment in the backdrop of a sharp rise in Brent fuel price by more than
50% during the quarter, a depreciating rupee and a challenging pricing
situation in an over-capacitated domestic market. "At the strategic level,
the company remains committed and is on track to realise most of the outcomes
that were outlined as part of its turnaround strategy last quarter...,"
the company said in a statement. The company’s shares closed at Rs254.65, up
5.21% on the BSE.
Wall
Street closed with heavy losses on Monday, the Dow Jones Industrial Average
falling 2.32% on a day marked by concerns about a deceleration in world
economic growth and plunges in tech giants such as Apple, which fell more than
5%. At the close of regular trading, the DJIA - the main indicator for US
stocks - had lost 602.12 points, coming to rest at 25,387.18, while the
S&P500 index fell 1.97% to 2,726.22 and the NASDAQ index - which includes
the important tech companies - dropped 2.78% to 7,200.87, Efe reported. Almost
all market sectors ended the day in negative territory with tech stocks falling
5.54%, discretionary consumer goods by 2.31%, energy 2.14% and both finance and
industrials by 1.99%. Only the real estate sector was in the green on Monday,
with a slight rise of 0.20%. Wall Street analysts blamed investor pessimism as
the backdrop for concerns about economic growth that they fear may have reached
its peak. Also, investors were said to be fearful of new tariffs resulting from
trade tensions and the Federal Reserve's potential interest rate hike next
month.
India's
industrial output growth slipped to 4.5% in September from a rise of 4.66% in
August, official data showed on Monday. However, the data released by the
Ministry of Statistics and Programme Implementation showed that the Index of
Industrial Production (IIP) in September 2017 had grown at a slower rate of
4.1%. "The cumulative growth for the period April-September 2018 over the
corresponding period of the previous year stands at 5.1%," the 'Quick
Estimates' of IIP released by the ministry said. On the YoY (year-on-year)
basis, the output of manufacturing sector expanded by 4.6%, while mining
production inched-up by 0.2% and the sub-index of electricity generation
increased by 8.2%. Among the six use-based classification groups, the output of
primary goods which has the highest weightage of 34.04 grew by 2.6%.
Intermediate goods output (which has the second highest weightage) inched up by
1.4%. Similarly, consumer non-durables output rose during the month by 6.1% and
that of consumer durables by 5.2%. In addition, infrastructure or construction
goods output increased by 9.5% and capital goods by 5.8%.
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:
 |
| financial markets (The Total Investment & Insurance Solutions) |
No comments:
Post a Comment