We had mentioned in Friday’s closing report that Nifty, Sensex were overbought, but there was no sign of weakness as yet. The major indices of the Indian stock markets were trading in the red on Monday and closed with small losses. The trends of the major indices in the course of Monday’s trading are given in the table below:
Profit booking, along with lower crude oil prices and apprehensions over two upcoming global events, subdued the Indian equity markets on Monday. The key indices closed the day's trade on a flat note, as heavy selling pressure was witnessed in capital goods and banking stocks. The equity markets had receded after they touched new intra-day highs in almost a year. On the NSE, there were 528 advances, 910 declines and 45 unchanged. However, global cues from the Asian markets were positive. The BSE market breadth was tilted in favour of the bears -- with 1,563 declines and 1,178 advances
The country's largest carmaker Maruti Suzuki India on Monday reported a 12.7% increase in its total sales in July, to 1,37,116 units as compared to 1,21,712 units sold in the same month last year. The company in July posted its highest ever monthly domestic sales to 1,25,778 units, up 13.9% from 1,10,405 units sold in the year-ago month, the car maker said in a filing to BSE. In July, sales of mini segment cars fell by 7.2% to 35,051 units as compared to 37,752 units sold in July 2015. The company said its total passenger cars sales in the month grew by only 2.2% to 93,634 units as compared to 91,602 units sold in the corresponding month last year. Sales of utility vehicles soared by a whopping 151.3% to 17,382 units in July this year from 6,916 units in the corresponding month last year while sales of vans grew 24.1% to 14,748 units in July as against 1,887 units in the same month last year. Exports during the month increased marginally by 0.3% to 11,338 units as compared to 11,307 units in July last year, the carmaker said. The company’s shares closed at Rs4,869.80, up 2.41% on the BSE.
Commercial vehicles major Ashok Leyland Ltd on Monday said it closed last month selling 10.492 units, down by 5% over the comparable period last year. In a statement issued here, the company said it sold 10,492 units, down from 11,054 units sold in July 2015. While the company experienced seven per cent lower volume sales in the medium and heavy vehicles segment, it logged 4% growth in the light commercial vehicles segment. However, for April-July 2016 Ashok Leyland sold a total of 41,657 units - up from 39,208 units sold during April-July 2015. The company’s shares closed at Rs91.60, down 4.03% on the BSE.
Amid the recent fluctuation in global oil prices, state-run Indian Oil Corp (IOC) cut the price of transport fuels on Sunday effective from midnight, of petrol by Rs1.42 a litre and of diesel by Rs2.01, both at Delhi, with corresponding decrease in other states. Making its previous fortnightly revision in fuel prices on July 16, IOC had cut petrol by Rs2.25 a litre and diesel by Rs42 paise, both at Delhi. Petrol per litre from Monday will cost Rs61.09 in Delhi, Rs64.97 in Kolkata, Rs65.70 in Mumbai and Rs60.65 in Chennai. Similarly, diesel will cost Rs52.27 in Delhi, Rs54.57 in Kolkata, Rs57.47 in Mumbai and Rs53.73 in Chennai.
Key macro-economic data, coupled with the government's efforts to build political consensus on a major economic legislation and quarterly earnings results, are expected to steer the Indian equity markets in the course of the week. The global liquidity tap, thanks to global central banks, needs to further support the markets, if commensurate growth in corporate earnings and other macro data does not materialise. The net FPI (Foreign Portfolio Investors) flows in July, 2016 crossed Rs12,600 crore, even as domestic institutional investors continued to remain net sellers. On a weekly basis, figures from the stock exchanges showed that FPIs purchased stocks worth Rs3,719.63 crore during the last week.
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: