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24
January 2019
I had
mentioned in Wednesday’s closing report that if Nifty, Sensex might head lower
if it breaks today’s low. The major indices of the Indian stock markets were range-bound on Thursday and closed with gains over Wednesday’s close. On the NSE, there were 584 advances, 1,119 declines and 354 unchanged. The major trends of the Indian stock markets are given in the table below:
 |
| Major Indices (The Total Investment & Insurance Solutions) |
The
Sensex declined and the Nifty traded marginally higher on Thursday over
concerns of global growth and the ongoing earnings' season. Banking, auto and
finance stocks declined while the export-oriented IT (information technology)
sector gained as the rupee continued to gain for the second day. The rupee was
last trading at Rs71.26 per dollar from its previous close of Rs71.34 as global
crude oil prices soothed.
Globally,
investors were cautious ahead of the vote on a bill that may end the partial US
government shutdown. Foreign institutional investors sold Rs775.82 crore worth
of stocks while domestic institutional investors bought Rs583.77 crore.
Automobile
major Tata Motors has launched its new SUV "Harrier" at a starting
price of Rs12.69 lakh, ex-showroom Mumbai. According to the company,
"Harrier" is powered by "Kryotec 2.0" Diesel engine, which
is mated to a 6-speed manual transmission. Commenting on the launch, Tata
Motors CEO and MD Guenter Butschek said: "With this product, Tata Motors
has rightfully entered the premium mid-size SUV segment. The 'Harrier' is a
strong proof point of our Turnaround 2.0 strategy and it will be a game changer
in the market," Butschek said. "I am confident that with the
'Harrier', Tata Motors Passenger Vehicle Business Unit will continue to win
sustainably in the times to come," Butschek added. Tata Motors shares
closed at Rs175.55, down 2.61% on the NSE.
United
Spirits Ltd reported Rs192 crore standalone net profit for the third quarter of
fiscal 2018-19, registering 42% annual growth from Rs135 crore in the same
period a year ago. Sequentially, net profit, however, declined 25.9% from Rs259
crore a quarter ago. In a regulatory filing on the BSE, the Indian arm of the
British liquor major Diageo said standalone revenue from operations grew 8.8%
annually to Rs7,764 crore from Rs7,137 crore in the like period a year ago and
8.9% sequentially from Rs7,128 crore a quarter ago. Earnings before interest
and tax (Ebit) grew 70% yearly to Rs298 crore from Rs184 crore a year ago but
declined 21.8% from Rs381 crore a quarter ago. "We delivered double-digit
sales growth for a third consecutive quarter this year. Net sales grew 16% in
the prestige and above segment and 11% overall, including the popular
segment," said Chief Executive Anand Kripalu in a statement later. Though
the company had a stable operating environment during the fiscal, it expects
the general elections, due in April-May, to impact its sales in the first
quarter of fiscal 2019-20. "We will, however, make progress towards
strategic priorities to capture the opportunity in spirits market in
India," said Kripalu. Within the Scotch portfolio, Johnnie Walker and
Black & White showed robust growth. United Spirits shares closed at
Rs571.75, down 1.46% on the NSE.
The
top gainers and top losers of the major indices are given in the table below:
The closing values of the Asian indices are
given in the table below: The Total
Investment & Insurance Solutions
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