Major Indices (The Total Investment & Insurance Solutions)

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06 February 2019

I had mentioned in Tuesday’s closing report that Nifty, Sensex were range-bound and had closed with minor gains over Monday’s close. Today, the major indices of the Indian stock markets opened over Tuesday’s closing price and closed with higher gains. On the NSE, there were 737 advances, 977 declines and 345 unchanged. The trends of the major indices in the course of Wednesday’s trading are given in the table below:

Amid mixed global markets and healthy quarterly results of index heavyweights, key equity indices by over 1 per cent, during the late afternoon session of the trade on Wednesday. In addition, the equity indices also gained as both the foreign institutional investors (FIIs) and domestic institutional investors (DIIs) were net buyers on Tuesday. FIIs bought stocks worth Rs 420.65 crore while the DIIs bought stocks to the tune of Rs 194.31 crore.

Investors will also be keeping an eye on the Reserve Bank of India's (RBI) bi-monthly monetary policy outcome scheduled on Thursday. Expectations of rate cut along with some healthy quarterly results, lifted the key equity indices on Wednesday. Tata Steel spurted by 4.08% while Bajaj Finance gained 3.54%. 

Sector-wise, auto, IT and metal stocks led the gains on Sensex, while the consumer durables and utilities declined. Additionally, drop in bond yield and marginal strength in rupee added strength to the expectation of lowering of rates. The BSE Sensex closed 358.42 points or 0.98% higher at 36,975.23, while the Nifty finished the trade 128 points or 1.17% higher at 11,062.45. Except for Axis Bank and IndusInd Bank, all other Sensex stocks gained. ONGC, Bajaj Auto and Tata Motors (DVR) gained in the range of 2-3%.

State-run Allahabad Bank on Wednesday announced a net loss of Rs732.81 crore for the quarter ended December 31, 2018, narrowing the net loss of Rs1,263.79 crore reported for year ago period. Global technology and services provider Bosch Group on Wednesday inaugurated the Robert Bosch Center for Data Science and Artificial Intelligence (RBC-DSAI) at the Indian Institute of Technology-Madras (IIT-M) with a planned investment of 2.5 million Euros (over Rs 20 crore) over five years.

Credit rating company Fitch Ratings has placed India's Tata Motors credit rating on negative watch. The rating agency pointed at increasing risks for Tata Motors’ British luxury car unit - Jaguar Land Rover (JLR) - over a potentially chaotic Brexit. “Trade barriers and logistic issues from a disorderly Brexit could have an impact on JLR’s competitive positioning and ‍lead to significantly lower sales and profitability,” the credit rating agency said.

Major Indices (The Total Investment & Insurance Solutions)

As a part of their asset monetisation plan to repay debt, promoters of Zee Entertainment Enterprises Ltd (ZEEL) are open to sell over 50% of their holdings in the firm and are in talks with more than two investors for the same, a senior company official said. 

Executives from top Indian steel producer JSW Steel and other steel companies attended the meeting with government officials today and sought an increase in duties on imports of steel to check surging shipments from overseas, a news source said. 

The top gainers and top losers of the major indices are given in the table below:

The closing values of the major Asian i

ndices are given in the table below: The Total Investment & Insurance Solutions