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15
November 2018
I had
mentioned in Wednesday’s closing report that Nifty, Sensex have turned
trendless. 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. The trends of the major
indices in the course of Thursday’s trading are given in the table below:
Broadly
positive global cues and a recovery in the domestic currency pushed the key
equity indices in the green on Thursday. 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.
Driven
by demand for a skilled workforce in emerging technologies such as cyber
security, Internet of things (IoT) and Big Data, India will generate over 14
lakh new IT jobs by 2027, a Cisco-led study said on Thursday. This is likely to
lead to a long term bullish trend in TMT (Technology, Media, Telecom) shares in
the Indian stock markets.
Budget
passenger carrier SpiceJet reported a standalone net loss of Rs389.37 crore for
the quarter ended September 30, 2018. The airline had reported a net profit of
Rs105.27 crore during the corresponding month of the previous fiscal. "As
an impact of strong cost pressures faced during this quarter, the company paid
an amount of Rs272 crore on account of increase in cost of aviation turbine
fuel, Rs78 crore on account of rupee depreciation and an amount of Rs46 crore
on account of forex losses on its obligations as compared to Q2 2017," the
airline said in a statement. "Revenue performance remained disciplined and
fell by only 1% in spite of severe competition." SpiceJet shares closed at
Rs82.95, down 0.90% on the BSE.
Yes
Bank on Wednesday said that its non-executive independent part-time Chairman
Ashok Chawla has resigned with immediate effect. Yes Bank shares closed at
Rs206.00, down 7.42% on the BSE.
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. Jammu
& Kashmir Bank Ltd shares closed at Rs39.20, down 1.13% on the BSE.
Steel
Strips Wheels has bagged new exports orders for steel wheels for EU (European
Union) caravan market. The order comprises of over 70,000 Wheels, mix of
13" and 14", to be shipped from its Chennai plant over next 3 months.
The company’s shares closed at Rs1,062.00, down 2.18% on the BSE.
Lupin
has received approval for its Decitabine for Injection from the US FDA (Food
and Drug Administration) to market a generic version of Otsuka Pharma's
Dacogen. It is indicated for the treatment of patients with myelodysplastic
syndromes (MDS). Lupin shares closed at Rs852.60, up 1.34% on the BSE.
The
government hopes that the Reserve Bank of India (RBI) in its board meeting on
November 19 will address the liquidity crisis that initially triggered a tiff
between the government and the central bank, sources said.
The
top gainers and top losers of the major indices are given in the table below:
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| Major Indices (The Total Investment & Insurance Solutions) |
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