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04
January 2019
I had
mentioned in last week’s closing report that Nifty, Sensex might head higher.
The major indices of the Indian stock markets were volatile during the week and
suffered a correction to close on Friday with losses over last Friday’s close.
The trends of the major indices in the course of the week’s trading are given
in the table below:
The
major indices of the Indian stock markets were range-bound on Monday and ended
flat. On the NSE, there were 1,129 advances, 643 declines and 114 unchanged.
The
last session of 2018's trade ended on a flat note with the Sensex declining 8
points and the Nifty adding just 2 points to its previous close. The indices
however were in the green for the most part of Monday's trade session but were
dragged by weakness in key stocks of sectors like realty, oil and gas and
energy. The Total Investment & Insurance
Solutions
The
indices advanced during the afternoon session of trade after opening higher in
line with global markets on Monday over signs of progress in the US-China trade
stand-off. The indices had, however, slipped in the red for a short while --
12-1 p.m. -- as oil and gas and energy stocks witnessed selling pressure.
Finally, by close of trading the major indices ended flat. Asian stocks also
traded in the green after US President Donald Trump said: "Just had a long
and very good call with President Xi of China. Deal has been moving along very
well. If made, it would be very comprehensive, covering all subjects, areas and
points of dispute. Big progress being made!" he said. The Total Investment & Insurance Solutions
Macro-economic
data points, coupled with Indian rupee's performance against the US dollar
would influence domestic equity market's trajectory during the week, pointed
out market analysts. The Total Investment
& Insurance Solutions
The
Central government has decided to infuse Rs10,086 crore into Bank of India. The
bank informed the BSE in a regulatory filing on Saturday that the capital
infusion in its equity will be done by way of preferential allotment. According
to the filing, the bank's board will consider "by way of circular
resolution on or after January 2, 2019 the proposal for raising capital by this
infusion and further issue of equity shares or securities at an appropriate
time and other incidental matters thereat". The Total Investment & Insurance Solutions
The
major indices of the Indian stock markets made a minor rally on Tuesday and
closed with gains over Monday’s close. The
Total Investment & Insurance Solutions
A
last hour pick-up in banking and realty stocks, along with positive global
markets, buoyed the key Indian equity indices on Tuesday. The day's trade saw
30-scrip Sensex gaining over 180 points to regain the 36,000 points-mark.
However, the two key indices traded mostly in the red throughout the day's
session, but a sharp recovery in the last hour changed the overall scenario.
Index-wise, the S&P BSE Sensex settled 186.24 points or 0.52% higher at
36,254.57 points after touching an intra-day high of 36,284.04 and a low of
35,888.62. The NSE Nifty50 closed at 10,910.10 points up 47.55 points or 0.44%.
Expectations of weak monthly auto sales and slower industrial November data,
concerned the market, observed market analysts. Apart from realty sector,
finance stocks also edged higher, gaining close to 1%.
The
major indices of the Indian stock markets suffered a correction on Wednesday,
as premarket US futures traded deeply in the negative and the Hong Kong market
fell more than 700 points, down 2.77%. The rupee fell sharply and there was a
slowdown in the manufacturing PMI data. On the NSE, there were 549 advances,
1,134 declines and 381 unchanged.
Most
sectoral indices traded in the negative, led by auto, metal and banking stocks.
The S&P BSE auto index lost 534.70 points on weak December auto sale
figures. Also, the decline in the Nikkei Manufacturing Purchasing Managers'
Index released during the day subdued the market sentiments. The index declined
to 53.2 in December, from 54 in November.
The
Indian currency slumped 45 paise on Tuesday to trade at 69.89 per dollar
(around 1.20 p.m.), against the previous close of 69.45 per dollar.
Automobile
major Maruti Suzuki India reported a decline of 1.3% in its total sales
including exports for December 2018. According to the company, a total of
128,338 units were sold last month, compared to 130,066 units' off-take
recorded during the corresponding period of the last financial year. The total
sales were dragged down by heavy decline in export. It slumped 36.4% to 6,859
vehicles. However, the company's domestic sales rose 1.8% on a year-on-year
basis to 121,479 units in December. The company's domestic passenger vehicles
sales was up 1% to 1,19,804 units, while sales of light commercial vehicles in
the country rose 130.7 per cent to 1,675 units. The Total Investment & Insurance Solutions
Automobile
major Mahindra and Mahindra (M&M) reported a meagre 1% rise in its total
vehicle sales for December 2018, owing to tight liquidity and low buying
sentiment in the domestic market. The Total
Investment & Insurance Solutions
The
major indices of the Indian stock markets suffered a correction on Thursday and
closed with significant losses over Wednesday’s close. On the NSE, there were
553 advances, 1,148 declines and 361 unchanged. The Total Investment & Insurance Solutions
Amid
weak factory data from China and India earlier in the week fuelling concerns of
a slowdown in global growth and a sustained weakness in the domestic currency
pulled the benchmark Sensex down on Thursday. Energy, oil and gas and capital
goods came under selling pressure, while realty traded in the green on the
expectation that the GST (Goods and Services Tax) Council at its January 10
meeting would bring down the tax rate on under-construction housing to 5% from
12%. FMCG (fast moving consumer goods) stocks managed to advance.
The
Indian currency weakened by 12 paise on Thursday to trade at 70.29 per dollar,
against the previous close of 70.17 per dollar. The Total Investment & Insurance Solutions
The
HDFC's Board would consider raising Rs45,000 crore through issuance of secured
redeemable non-convertible debentures (NCDs). Accordingly, the company's Board
would consider the issuance of NCDs on private placement basis in a meeting on
January 29, 2019. "The board of directors of the corporation shall
consider issuance of secured redeemable non-convertible debentures, in various
tranches under Shelf Disclosure Document, aggregation Rs45,000 crore on a
private placement basis in accordance with the approval granted by the
shareholders of the corporation at the 41st Annual General Meeting held on July
30, 2018," the company said in a regulatory filing to the BSE.
Lending
major Bank of Baroda (BoB) finalised the equity share exchange ratio for
amalgamation of Dena Bank and Vijaya Bank, subject to statutory regulatory
approval.
On
Friday, the major indices of the Indian stock markets were range-bound and
closed with gains over Thursday’s close. On the NSE, there were 868 advances,
829 declines and 364 unchanged.
Sensex
gained around 200 points on Friday as financial stocks rose.
Earlier,
Chinese factory data along with that of India's suggested a global growth
slowdown, which was further magnified after a weak US factory data outcome. The
latest addition to the worries was tech major Apple's announcement of cutting
its financial forecast, partly blaming US trade tensions with China along with
a slowdown in the Chinese economy. Apple is one of the world's largest
companies by market value and it was the first time in years that it has
sharply cut its growth forecast. The Total
Investment & Insurance Solutions
Public
sector lender Union Bank of India plans to raise up to Rs600 crore through
"Employee Share Purchase Scheme", subject to shareholders' approval.
According to the bank, its Stakeholders Relationship Committee (SRC) has
approved the scheme for raising the equity capital. "...The SRC at its
meeting held on Thursday, 3 January, 2019, inter alia, discussed and approved
the following - a scheme namely 'Union Bank of India - Employee Share Purchase
Scheme' to raise equity capital aggregating up to Rs600 crore...," the
bank said in a regulatory filing to the BSE. As per the filing, the bank will
raise the equity capital by "...offering, issuing and allotting up to
8,00,00,000 new equity shares to the eligible employees of the bank". The
bank added that it will seek shareholders' approval for the scheme through
postal ballot and e-voting. The bank’s shares closed at Rs92.85, up 4.62% on
the NSE.The Total Investment & Insurance
Solutions
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Major Indices (The Total
Investment & Insurance Solutions)
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