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16
November 2018
I had
mentioned in last week’s closing report that Nifty, Sensex might come under
pressure. The major indices of the Indian stock markets staged a small weekly
rally in a volatile market and closed on Friday with gains 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 suffered a correction on Monday and
closed with losses over Friday’s close. On the NSE, there were 640 advances,
1,105 declines and 328 unchanged. Investors turned cautious ahead of the
release of key macro-economic indicators. The government was supposed to
release the Consumer Price Index (CPI) for October and the industrial
production data for September later in the day. The CPI data for September
stood at 3.77%, up from 3.69 in August. Also, rebound in global crude oil
prices and depreciation in the rupee weighed on the indices during the day.
Price of Brent crude oil rose around $1.42 per barrel to $71.60 on
Monday.
Bank
of India reported Q2FY19 results with net interest income (NII) at Rs2,926.79
crore (Rs2,908.24 crore), up 0.60% year-on-year. Losses were at Rs1,156.25
crore (profit of Rs179.07 crore). NPA (non-performing assets) provisions were
at Rs2,827.62 crore (Rs1,866.82 crore). Gross Net Performing Assets (GNPA) were
at 16.36% (12.62%). Net non-performing assets (NNPA) were at 7.64%
(6.47%).
Britannia
Industries reported Q2 FY19 (Consolidated) results which included revenues at
Rs2,869.59 crore (Rs2,545.29 crore), up 12.7% year-on-year. Net profit was at
Rs302.97 crore (Rs261.05 crore), up 16.1% year-on-year. Earnings per share were
at Rs25.22 (Rs21.74).
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
benchmark Brent Crude eased to $69.38 a barrel after it surpassed the $71 mark
on Monday, after US President Donald Trump put pressure on OPEC not to cut
supply to prop up the market, said market analysts. 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 the red.
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.
On
Wednesday, the major indices of the Indian stock markets were flat after an
initial rally. On the NSE, there were 737 advances, 979 declines and 341
unchanged as higher wholesale inflation and caution during the ongoing assembly
polls in five states weighed on the domestic investor sentiments. Although,
crude oil prices eased and rupee appreciated during the day but positive
sentiments eroded as the day progressed, analysts said. India's annual rate of
inflation based on wholesale prices rose to 5.28% in October from 5.13% in
September, the Commerce Ministry data said. Selling pressure was witnessed in
export-oriented stocks like IT (information technology) and healthcare as the
domestic currency appreciated to Rs72.16 to a US dollar from its previous close
of 72.67. In addition the benchmark Brent Crude registered a steep decline to
$65.42 a barrel. However, the index pivotals -- finance and banking stocks --
traded in the green.
IDBI
Bank reported Q2FY19 results with net interest income (NII) at Rs1,300.86 crore
(Rs1,657.45 crore), down 21.5% year-on-year. Losses were at Rs3,602.49 crore
(Rs197.84 crore). Provisions were at Rs5,481.64 crore (Rs2,842.15 crore). Gross
non-performing assets (GNPA) were at 31.78% (24.98%) and net non-performing
assets (NNPA) were at 17.30% (16.06%).
Mahindra
& Mahindra reported Q2 FY19 (standalone) results with revenues at Rs12,988.57
crore (Rs12,183.65 crore), up 6.6% year-on-year. Profit after tax was at
Rs1,649.46 crore (Rs1,331.57 crore), up 23.90% year-on-year. Earnings per share
were Rs13.86 (Rs11.20).
The
major indices of the Indian stock markets were range-bound on Thursday and
closed with small gains over Wednesday’s close. On the NSE, there were 743
advances, 980 declines and 336 unchanged. Broadly positive global cues and a
recovery in the domestic currency pushed the key equity indices in the green.
Buying was witnessed in export-oriented stocks like IT (information
technology), as the rupee recovered. Consumer durables, finance and banking
stocks also gained. The domestic currency traded at Rs72.08 a US dollar from
its previous close of Rs72.31. However, selling pressure was witnessed in oil
and gas, telecom stocks. The benchmark Brent Crude traded at $66.40 a barrel.
Reliance
Infrastructure (RInfra) reported a year-on-year rise of 16% in its consolidated
total income for the second quarter of 2018-19. Vodafone Idea reported a
consolidated net loss of Rs4,973.8 crore for the July-September quarter. The
company, in its maiden quarterly result after the merger of Vodafone India and
Idea Cellular, reported a total income of Rs7,878.6 crore during the second
quarter of the current fiscal year ending March. The merger was completed on
August 31.
The
Reserve Bank of India said it has imposed penalties on Deutsche Bank A.G. of
Germany and The Jammu & Kashmir Bank Ltd for violating various norms. The
penalties imposed are Rs3.1 crore on Deutsche Bank A.G. and Rs3 crore on The
Jammu & Kashmir Bank Ltd. The heavy fines came for the two banks'
"non-compliance with the direction" of RBI on Income Recognition and
Asset Classification (IRAC), Know Your Customer/Anti-Money Laundering (KYC/AML)
norms, and on disclosure of monetary penalties imposed by the regulator.
The
major indices of the Indian stock markets traded positive on Friday and closed
with gains over Thursday’s close. On the NSE, there were 715 advances, 1,020
declines and 326 unchanged.
Broadly
positive global markets, healthy macro-economic trade data along with a slight
recovery in rupee guided the advances in the key Indian equity indices on Friday.
Buying was witnessed in telecom stocks as it rose over 4%, most among all the
sectors on the BSE. Energy, finance and healthcare stocks also gained whereas
selling pressure occurred in oil and gas and metal scrips as the benchmark
Brent Crude prices rose to $67.38 a barrel. The rupee traded at Rs71.81
per dollar from its previous close of 71.98.
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| Major Indices (The Total Investment & Insurance Solutions) |
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