We had mentioned in Monday’s closing report that Nifty, Sensex might weaken further. The major indices of the Indian stock markets were range-bound on Tuesday and closed with marginal losses over Monday’s close. Trading volumes on the NSE were on the lower side, reflecting caution among investors. The trends of the major indices in the course of Tuesday’s trading are given in the table below:
The key indices closed in the red as selling pressure was witnessed in capital goods, banking and automobile stocks. The BSE market breadth was tilted in favour of the bears -- with 1,430 declines and 1,254 advances. On the NSE there were 614 advances, 828 declines and 61 unchanged. IT (information technology) stocks traded with mixed sentiments, while banking stocks traded down due to profit booking. Textile and FMCG stocks traded with mixed sentiments on profit booking, according to market analysts.
Automobile major Tata Motors on Tuesday announced its foray into the Bolivian commercial vehicle market by entering into a distribution agreement with local partner -- Bolivian Auto Motors. "We at Tata Motors understand our customers well and today have introduced class-leading products, suitable for varied terrains, with each of these built for better load carrying capability, more trips, with the lowest turnaround time," Rudrarup Maitra, Head (International Business), Commercial Vehicles, Tata Motors, was quoted as saying in a statement. According to the company, it has launched three commercial vehicles in the Bolivian market -- Tata SuperAce Petrol, Tata Xenon Petrol and Tata LPT 613 truck. Besides Bolivia, Tata Motors commercial vehicles are also sold in other South American markets like Chile and Ecuador. Tata Motors shares closed at Rs531.95, down 0.67% on the BSE.
State-run Coal India Ltd's share buy-back offer will open from October 3 to October 18, a regulatory filing said on Tuesday. Coal India board had approved the buy-back of over 10.89 crore shares at a price of Rs335 per share for an aggregate consideration not exceeding Rs3,650 crore. SBI Capital Markets Ltd on Tuesday informed about the letter of offer regarding buy-back offer to the equity shareholders of coal miner. "The buy-back offer size represents approximately 24.95 per cent of the aggregate of the fully paid-up share capital and free reserves, as per the audited accounts of the Company for the financial year ended 31 March 2016 and is within the statutory limits of 25% of the aggregate of the fully paid up share capital and free reserves as per the audited accounts of the Company for the financial year ended 31 March 2016," the filing said. Coal India shares closed at Rs332.00, down 0.20% on the BSE.
The US dollar slipped against most major currencies on Monday ahead of the country's first presidential debate between Republican Donald Trump and Democrat Hillary Clinton. Analysts said the debate has cast huge amount of uncertainties over the country and thus hurt the currency. The dollar index, which measures the greenback against six major currencies, was down 0.23% at 95.262 in late trading. On the economic front, US sales of new single-family houses in August were at a seasonally adjusted annual rate of 609,000, beating market consensus, reported the Commerce Department on Monday. American investors are cautious over the outcome of the US Presidential elections. However, Indian market analysts feel that in our stock markets it would be ‘business as usual’ irrespective of who wins the election.
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 below: