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16
March 2018
I had
mentioned in last Friday’s closing report that Nifty, Sensex might try to
rally. The major indices of the Indian stock markets were volatile during the
week and closed on Friday with small losses over last Friday’s close. The
trends of the major indices in the course of the week’s trading are given
below: The Total Investment &
Insurance Solutions
 |
Weekly Indices (The Total
Investment & Insurance Solutions)
Value
buying by investors, along with positive global cues, pushed the BSE Sensex
index to over 600 points and the Nifty50 of the National Stock Exchange (NSE)
by almost 200 points on Monday. According to market observers, the sharp upward
rally of the key indices came on the back of broad-based buying in sectors like
FMCG (fast moving consumer goods), auto, IT (information technology,) banking,
metals and oil and gas. Index heavyweights like Bharti Airtel, ITC, NTPC, Tata
Motors and Hero MotoCorp were the top gainers on the BSE. Top gainers on the
NSE were HCL, ITC and Infosys, while on the declines were Coal India, State
Bank of India and Aurobindo Pharma. On the NSE, there were 856 advances, 698
declines and 70 unchanged.
Automobile
manufacturer Eicher Motors on Monday said the company has decided to shut its
joint venture -- Eicher Polaris Private Ltd (EPPL) -- with US-based Polaris
Industries Inc. The decision was taken in a meeting held last week on Friday
(March 9), Eicher Motors said. "The initial interest (among customers)
could not be sustained, and subsequent sales performance was significantly
slower than the company's expectations," it said in a regulatory filing to
the BSE
The
Rajya Sabha on Monday failed to conduct any business due to a continued
standoff between the government and several other parties over a range of
issues including special status for Andhra Pradesh, the PNB fraud and the
sealing drive in Delhi. The Total
Investment & Insurance Solutions
A
sudden sell-off in stocks of IT (information technology) majors like Tata
Consultancy Services (TCS) and Infosys pulled the BSE Sensex index lower on
Tuesday. According to market observers, TCS scrip plunged over 5% on
announcements of block deals on both the BSE and National Stock Exchange (NSE).
On Monday, Tata Sons had sold $1.25 billion of its stake in the company.
Earlier
on Tuesday, macro-economic data, along with buying in banking, consumer
durables, oil and gas and healthcare stocks had lifted the key Indian equity
indices. The BSE Sensex reclaimed the 34,000-mark in the course. On the NSE,
there were 1,062 advances, 452 declines and 63 unchanged.
Bharti
Airtel on Tuesday said Singapore Telecommunications Ltd (Singtel) has invested
Rs2,649 crore in Bharti Telecom, the promoter company of Airtel. As per the
deal, shares have been allotted to Singapore International Investments Private
Ltd, an affiliate of Singtel, Bharti Airtel said in regulatory filing to the
BSE. This transaction concludes the investment process that Bharti Airtel had
announced on February 5. With this investment, "Singtel's total stake
(along with its affiliates) in Bharti Telecom has increased to 48.90%,"
the filing said, adding that, Bharti Enterprises continues to hold over 50% stake
in the company.
Weak
cues from the Asian markets, as well as selling pressure in banking, oil and
gas, and auto stocks, pulled the key Indian equity indices lower during the
mid-afternoon trade session on Wednesday. Market observers said the Reserve Bank
of India's (RBI) move to discontinue the system of issuing Letters of
Undertaking (LoUs) by banks for availing trade credits for imports into India
with immediate effect eroded investors' risk-taking appetite.
Top
gainers on the NSE were Tech Mahindra, UltraTech Cement and Ambuja Cement,
while on the declines were Infratel, Bharti Airtel and State Bank of India.
Key
Indian equity indices, which traded in the negative territory during the day
pared some losses to close Wednesday's trade on a flat-to-negative note. On the
NSE, there were 876 advances, 829 declines and 315 unchanged. Private lender
Yes Bank announced it has acquired more than 17% share in Fortis Healthcare,
making the bank the largest shareholder in the healthcare major. In a stock exchange
filing, Yes Bank said the 17.31% equity in Fortis has been acquired in lieu of
the default in loan repayment by the promoters of the healthcare company. The Total Investment & Insurance Solutions
The
major indices of the Indian stock markets were volatile on Thursday and closed
with small losses over Wednesday’s close. On the NSE, there were 964 advances,
540 declines and 65 unchanged. The market indices have not been able to break
out higher and instead have been under tremendous pressure. It is like that the
market would head lower with Nifty heading towards 10,000 we had said on
Thursday. The Total Investment & Insurance
Solutions
On
Friday, a huge sell-off across all sectors -- led by oil and gas, metals, auto
and banking stocks -- dragged the Indian equity markets further into the
negative territory during Friday's afternoon session, with the BSE Sensex
shedding over 500 points. On the NSE, there were 563 advances, 1,162 declines
and 293 unchanged. The correction in the major indices at the time of close of
trading on Friday was over 1.5% over Thursday’s close. Tata Motors, Adani
Ports, NTPC, ONGC and ITC were the top drags on the BSE.The Total Investment & Insurance Solutions
