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04
December 2018
I had
mentioned in Monday’s closing report that Nifty, Sensex were going strong. The
major indices of the Indian stock markets were range-bound on Tuesday and
closed with minor losses over Monday’s close. On the NSE, there were 766
advances, 949 declines and 349 unchanged. The trends of the major indices in
the course of Tuesday’s trading are given in the table below: The Total Investment & Insurance
Solutions
Selling
pressure in finance and banking sectors and a slight rise in global crude oil
prices dragged the key equity indices lower on Tuesday. According to the
analysts, investors were cautious due to the ongoing poll processes in
Chhattisgarh, Mizoram, Madhya Pradesh, Telangana and Rajasthan. Counting of
votes would take place on December 11. Finance and banking stocks traded over
0.60% lower, while selling pressure was witnessed in telecom, auto and FMCG
(fast moving consumer goods) sectors.
In contrast, buying was seen in IT
(information technology) and oil and gas stocks. Ahead of the OPEC (Oil and
Petroleum Exporting Countries) meeting this week, the crude oil prices surged
on Tuesday on expectations of supply cuts by the oil cartel. The benchmark Brent
Crude traded higher at $62.32 a barrel. The rupee, after losing 88 paise on
Monday, traded flat at Rs70.44 to a US dollar. Domestic markets like stock
markets across the world reacted well on Monday to signs of an easing US-China
trade tensions as the two countries agreed to halt additional tariffs. But the
domestic markets in India had ended on a flat note on Monday due to release of
weak macro data. The Total Investment
& Insurance Solutions
Jammu and Kashmir Governor Satya Pal Malik on
Tuesday categorically assured that no changes are intended in the financial
status and independence of the J&K Bank. Malik was responding to
apprehensions expressed by a cross-section of the society and the bank's staff.
“The Bank is regulated by the Reserve Bank of India (RBI) as an old generation
private sector bank, by the Registrar of Companies as it is a Government
Company under Companies Act and by SEBI as it is a listed company. It
will continue to be regulated by the RBI, SEBI and the Registrar of Companies.
No changes are being made here or contemplated. The J&K Bank is registered
as a Government Company under the Companies Act. The word PSU has no legal
connotation. J&K Bank continues to be a Government owned company. No new
changes are being made here. As a Government Company, J&K Bank is a Public
Authority under the Right to Information Act (RTI) and hence is automatically
subject to the transparency provisions of RTI. Nothing new is being imposed in
this regard. Transparency is good for the bank in the long term. However, in
view of the concerns expressed, and to give comfort to employees, the
government will re-examine the issue of accountability to legislature. J&K
Bank shares closed at Rs38.90, up 5.28% on the BSE. The Total Investment & Insurance Solutions
The RBI is expected to keep its key interest
rate unchanged at its penultimate monetary policy review of the fiscal on
Wednesday at a time when inflation - the central bank's key concern - has
softened, as has GDP growth, according to the figures for the second quarter
ending in September. The Total
Investment & Insurance Solutions
At its previous bi-monthly review in October,
the Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) held its
repo, or short term lending rate, unchanged at 6.5% in a context of rising
crude oil prices posing an inflationary risk as well as a weakening rupee.
Official data earlier showed that the consumer price index (CPI), or
retail inflation in October, fell to its lowest in a year at 3.31% owing to
lower food inflation, from 3.7% in the previous month. The Total Investment & Insurance Solutions
Besides,
from the depths it had plunged, the rupee has since appreciated to a level of
just over 70 to the US dollar. Moreover, global crude oil prices have softened
sharply from $86 per barrel in October to current levels of around $60
amidst reports that Saudi Arabia and Russia have reached a deal to cut output
so as to shore up falling prices.
Meanwhile,
official data on November 30 showed the pace of India's GDP growth slowed
during the July-September quarter to 7.1%, from 8.2% in the previous one,
mainly on the back of a drop in manufacturing, agriculture and mining.
Reliance Communications (RCOM) said its
subsidiary Reliance Realty has submitted a corporate guarantee of Rs1,400 crore
to the Department of Telecommunications (DoT) as per the Supreme Court's order
on November 30. The apex court in its order directed the DoT to approve RCOM's
spectrum trading deal within seven days of the order and told RCOM to furnish
Rs1,400 crore worth of corporate guarantee. "The spectrum trading
transaction will now be completed and proceeds will clear the dues of Ericsson
and minority investors of Reliance Infratel Limited (RITL)," RCOM said in
a statement. RCOM's asset monetisation would proceed as per plan, it said. The
company’s shares closed at Rs17.10, up 2.89% on the BSE. The Total Investment & Insurance Solutions
Shriram
EPC has secured two orders worth Rs166.16 crore and Rs59.55 crore from
Jharkhand Urban Infrastructure Development Co. Ltd. for augmentation and
strengthening of Dhanbad Water Supply Scheme-Phase 1 and Water Supply for
Khunti Nagar Panchayat. The company’s shares closed at Rs13.06, up 11.82% on
the BSE.
Alembic
Pharma's subsidiary company Orit Laboratories LLC has received approval from
the US FDA (Food and Drug Administration) for its ANDA for Glycopyrrolate
Tablets USP. The drug is indicated for use as adjunctive therapy in the
treatment of peptic ulcer. The company’s shares closed at Rs615.00, down 0.11%
on the BSE.
YES
Bank reported that Yes Asset Management has received final regulatory approval
from SEBI (Securities and Exchange Board of India) to commence its Mutual Fund
business. It is to launch two mutual fund schemes - 'YES Liquid Fund' and 'YES
Ultra Short Term Fund'. Yes Bank shares closed at Rs176.55, down 0.81% on the
BSE.
Uflex
has been granted US Patent for 20 years covering entire categories of Formable
Films that include one or more BOPET layers used in Alu Alu blister packaging.
With this, Uflex gets exclusive right of manufacturing & sale of this
special BOPET film in US, Europe and India. Uflex shares closed at
Rs291.35, up 4.52% on the BSE.
NCC has received two new orders totalling to
Rs220.2 crore in the month of November, 2018. The Electrical division of the
company secured Rs174.2 crore order and Water division secured order worth Rs46
crore. NCC shares closed at Rs87.00, down 0.34% on the BSE. The Total Investment & Insurance
Solutions
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
 |
Top Gainer (The Total
Investment & Insurance Solutions)
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