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12 November 2018
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. The trends
of the major indices in the course of Monday’s trading are given in the table
below:
The key
Indian equity indices pared their initial gains to trade lower during on
Monday, as investors turned cautious ahead of the release of key macro-economic
indicators. The government would 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. Finally, the major indices suffered a correction of the order of 1%
over Friday’s close.
Macro-economic
indicators such as inflation, factory output as well as global crude oil prices
will dictate the stock market trend this week, analysts said. A string of
assembly elections, starting November 12, will also drive investor sentiments
after range-bound movement the previous week. The government will release
Consumer Price Index (CPI) and Wholesale Price Index (WPI) data for October
this week. Retail inflation for September was at 3.77%, up from 3.69 in August.
The wholesale inflation rose to 5.13% in September, from 4.53% in August.
Assembly elections have kickstarted with the first phase of elections in
Chhattisgarh on Monday, November 12. Madhya Pradesh, Rajasthan, Chhattisgarh,
Telangana and Mizoram go to polls this month and the next to reconstitute their
respective assemblies. Also, crude oil prices, which have eased recently, would
guide the equity market next week, analysts said.
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%). The
bank’s shares closed at Rs86.90, down 5.23% on the NSE.
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 company’s shares closed at Rs5,765.00, up 0.32% on
the NSE.
Ratnamani
Metals & Tubes has received a new domestic order valued at approx. Rs165.00
crore for supply of CS Pipes for Oil & Gas Sector. The company’s shares
closed at Rs875.50, up 0.14% on the NSE.
Zydus
Cadila has received the final approval from the US FDA (Food and Drug
Administration) to market Nystatin and Triamcinolone Acetonide Ointment USP. It
is used to treat fungal skin infections. The company’s shares closed at
Rs356.20, down 1.12% on the NSE.
Cipla
has received final approval for its ANDA for Valganciclovir Tablets 450mg from
US FDA. The drug is AB-rated generic version of Roche’s Valcyte® used in the
treatment of CMV retinitis in patients with AIDS. Cipla shares closed at
Rs530.80, up 0.73% on the NSE.
Lupin
received Establishment Inspection report (EIR) for its Nagpur facility in
Maharashtra post the completion of a Pre-Approval Inspection for its Phenytoin
Sodium Extended Release 100 mg capsules. The inspection conducted in September
2018 concluded without any observation. The company’s shares closed at
Rs859.25, up 0.51% 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:
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