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20 November 2018
I had mentioned in Monday’s closing report that Nifty, Sensex were on an uptrend. The major indices of the Indian stock markets suffered a correction on Tuesday and closed with losses over Monday’s close. On the NSE, there were 481 advances, 1,265 declines and 319 unchanged. The trends of the major indices in the course of the day’s trading are given in the table below:
The BSE Sensex fell taking cues from its Asian peers on Tuesday, as the Nifty also slipped below the 10,700-mark, despite both the domestic currency and crude oil prices being in the favourable zone. The markets are taking cues from the global markets and hence the negativity. With regards to the RBI (Reserve Bank of India) meeting the markets cheered the fact that the stand-off with the government did not escalate. However, it was more or less a status quo, according to market analysts. All the 19 sectors on the BSE came under selling pressure led by the metal counter, which fell by over 2%, while healthcare, IT (information technology) and TECK (technology, entertainment and media) fell over 1%.
The Indian rupee strengthened significantly for the second day in a row as it traded at Rs71.38 per dollar, gaining 26 paise against the greenback. The benchmark Brent Crude prices also eased to $66.36 per barrel. According to analysts, the rupee's recovery was in line with the gains across the emerging market currencies, which bottomed on November 13 and then started to correct upwards.
Infosys Foundation, Skoda Auto India, University of Rajasthan and Madras Christian College are among 1,775 entities issued show-cause notice under the Foreign Contribution (Regulation) Act for their failure to submit annual income and expenditure statements on foreign fundings, officials said on Tuesday. Infosys shares closed at Rs641.10, down 1.64% on the BSE.
The Reserve Bank of India (RBI) would inject Rs8,000 crore into the market by purchasing government securities on November 22, 2018. Institutional investors may then show a greater preference for investing in securities than equity in the Indian markets and the stock markets may slow down temporarily.
State owned NBCC (India) reported a rise of 15.97% rise in its net profit for the second quarter of 2018-19. According to the company, its net profit increased to Rs85.96 crore from Rs74.12 crore in the corresponding quarter for last fiscal year. The state owned firm's total income for the quarter under review rose by 42.71% to Rs1,646.48 crore from Rs1,153.71 crore earned during the same period of last fiscal. The company added that it has secured total orders worth Rs1,503.37 crore in Q2. The company’s shares closed at Rs59.35, down 0.50% on the BSE.
Sugar production in the country until November 15 has been 1.16 million tonnes, compared to 1.37 million tonnes during the corresponding period last year, Indian Sugar Mills Association (ISMA) said. The industry body said 238 sugar mills were crushing sugarcane this year, compared to 349 sugar mills last year. It said 176,000 tonnes of sugar were produced by mills in Uttar Pradesh till November 15, 631,000 tonnes in Maharashtra, 185,000 tonnes in Karnataka, 105,000 tonnes in Gujarat and 60,000 tonnes in Tamil Nadu. India is set to produce 32.5-35 million tonnes sugar in the 2018-19 season that started in October against 32.25 million tonnes in the previous year. EID Parry India shares closed at Rs227.70, down 1.85% on the BSE.
A global Top 10 Casino and Resort Chain has chosen Ramco System’s Global Payroll platform to manage its multi-country Payroll operations covering 20,000+ employees across Asia and Mediterranean region on a unified platform. The company’s shares closed at Rs310.35, up 0.26% on the BSE.
IDFC Bank has been downgraded in Credit Rating by ICRA. NCDs (non-convertible debentures have been downgraded to AA+(Stable) from AAA (Stable). The reason is that the bank's profitability even after the proposed merger with Capital First, would remain subdued in the near to medium term. IDFC Bank shares closed at Rs35.50, down 1.66% 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: The Total Investment & Insurance Solutions
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| Major Indices (The Total Investment & Insurance Solutions) |
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