Stocks
Sensex, Nifty lack direction – Monday closing report
We had mentioned in Friday’s closing report that Sensex, Nifty were losing bullish momentum. The major indices of the Indian stock markets were range-bound on Monday and closed with minor gains over Friday’s close. In a market that was trading flat, investors were cautious to the extent of low trading volumes on the NSE. The trends of the major indices in the course of Monday’s trading are given in the table below:
 
 
Reduced chances of a US rate hike, coupled with broadly positive Asian indices, lower crude oil prices and a strengthened rupee, buoyed the Indian equity markets during the late afternoon trade session on Monday. However, gains were capped by profit booking, negative European markets and caution ahead of key quarterly earnings' results. The BSE market breadth was tilted in favour of the bulls -- with 1,698 advances and 1,184 declines. On the NSE, there were 843 advances, 621 declines, 67 unchanged.
 
CNX Nifty traded firm on the back of bearish US dollar/ Indian rupee futures prices. Sector-wise, IT (information technology) stocks traded with sideways sentiments. Banking and pharma stocks faced profit booking at higher levels and traded with mixed sentiments. These were the observations of market analysts.
 
Despite the current caution in the market, things are likely to improve. The ongoing quarterly results season, the release of major macro-economic data and global trends are expected to set the tone for the Indian equity markets in the next few weeks, according to market analysts.
 
India's steel imports declined by 37.3% in the first six months of the current fiscal and exports rose by 35.6% in the same period, according to an official report. "Import of total finished steel at 3.594 million tonnes (mt) in April-September 2016-17 declined by 37.3% over same period of last year. Export of total finished steel was up by 35.6% in April-September 2016-17 (3.03 mt) over same period of last year," said the reports of the Steel Ministry's Joint Plant Committee. In September only, imports fell by 46% to 0.611 mt over the same month the last year and exports were at 0.655 mt, up by a staggering 111% over same month last year. Compared to August, steel exports were down 3.5% in the last month. The report said country's consumption of total finished steel saw a growth of 2.5% in first half of the current fiscal at 40.561 mt over same period of last year. Consumption in September only was 6.731 mt, up by 7.6% over the same month last year and declined by 7.7% over August 2016. "Production for sale of total finished steel at 48.846 mt, registered a growth of 9% during April-September 2016-17 over same period of last year," said the report. Overall finished steel production for sale in September was at 8.042 mt, up by 10.5% over corresponding month last year. September production declined by 8.4% as compared to domestic output in August. Tata Steel closed at Rs418.30, up 2.93% on the BSE.
 
The central parity rate of the Chinese currency renminbi, or the yuan, weakened 230 basis points to 6.7008 against the US dollar on Monday, the China Foreign Exchange Trade System (CFETS) said. It was the weakest level since September 2010 as increased market expectations for an interest rate hike in the US led to a stronger dollar. In September, the yuan exchange rate composite index, which measures the yuan's strength relative to a basket of currencies including the US dollar, euro and Japanese yen, weakened by 0.28% month on month to 94.07, CFETS data showed. During the same period, the index that measures the yuan against the Bank for International Settlements currency basket weakened by 0.31% month on month to 94.75, while that against the Special Drawing Rights basket weakened by 0.06% to 95.05, according to the CFETS. Even as the yuan fell, major Asian indices also closed lower than Friday’s close.
 
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:
 
 
The equity markets will remain closed on Tuesday and Wednesday on account of Dussehra and Muharram.

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SEBI restrains Singhania Media Solutions, directors from acting as investment adviser
Markets regulator Securities & Exchange Board of India (SEBI) has barred Singhania Media Solutions Pvt Ltd and two directors of the company from acting as investment advisers. SEBI found the company and its directors guilty of providing unauthorised trading tips to the investors.
 
SEBI says it found that the company and its directors - Ankit Singhania and Shashikant Singhania - were acting as investment advisers without obtaining registration from the regulator. By acting as advisers, they have violated the SEBI Investment Advisers norms.
 
"The entity and its directors have been directed to cease and desist from acting as an investment advisor and cease to solicit or undertake such activities or any other activities in the securities market, directly or indirectly, in any matter whatsoever. Further, they have been directed not to divert any funds raised from investors, kept in bank account(s) and/or in their custody," the market regulator said in a release.
 
SEBI also noted that despite its order in December 2015, against Ankit Singhania's proprietary GoCapital, he continued with his unregistered activity through new company Singhania Media Solutions. He totally ignored the directions issued against him.
 
Besides, the market regulator has asked the company and its directors to immediately withdraw and remove all advertisements and representations. In relation to their investment advisory or any unregistered activity in the securities markets.
 

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Over 17 years, same 5 states hobble sanitation mission
Uttar Pradesh, Bihar, Madhya Pradesh, Odisha and Jharkhand are the worst performing states under the Swachh Bharat Mission (SBM), which celebrated its second anniversary on October 2, 2016 with fanfare.
 
No more than 23 per cent households in these five states use toilets, as on September 28, 2016, an increase of only two per cent over 15 years, according to government data.
 
They say history repeats itself; this seems to be ringing true for India's sanitation programmes.
 
The worst-performing states under the SBM are the same as they were under the Total Sanitation Campaign, launched 17 years ago by NDA-1 -- the first time the National Democratic Alliance (NDA) came to power. The United Progressive Alliance (UPA) government that followed changed the name of the campaign to Nirmal Bharat Abhiyan (Clean India Campaign) and increased it to 607 districts.
 
Together, these states account for 37 per cent of India's 1.2 billion people: 448 million people live in Uttar Pradesh, Bihar, Madhya Pradesh, Odisha and Jharkhand -- only China with 1.3 billion has more people than these five states. Without headway here, the SBM is not likely to succeed.
 
As many as 23 million toilets have now been built across the country, which means 55 per cent of Indian households had toilets (till September 28, 2016), up from 42 per cent in 2014.
 
As many as 1,536 villages have been declared open-defecation free, up from 697 in 2014; as many as 23 districts are open-defecation free, up from seven districts in 2014.
 
Bihar had the lowest proportion of households with toilets in 2016: 25 per cent, which is an improvement from 22 per cent in 2014, according to government data.
 
Odisha reported an increase in the proportion of households with toilets, from 12 per cent in 2014 to 33 per cent in 2016, the largest increase among the bottom five states, but it is still it below the national average of 55 per cent households with individual toilets.
 
Odisha also reported the largest proportion of households practicing open defecation (77 per cent), followed by Bihar (76 per cent) and Jharkhand (64 per cent), according to an answer given to the Lok Sabha by the Minister of Sanitation in February 2016.
 
No more than 19 per cent of households in Bihar had toilets under earlier sanitation campaigns, followed by Jharkhand with 32 per cent. More than 91 per cent of households practiced open defecation in Jharkhand in 2011, followed by Madhya Pradesh (86 per cent) and Odisha (84 per cent).
 
These states -- UP, Bihar, MP, Odisha and Jharkhand -- received 45 per cent of the national budget for sanitation programmes, IndiaSpend reported in October 2012.
 
The main reason for sanitation failures in these states is the lack of information and education on sanitation, especially in MP, where large swathes of land are inhabited by tribals. Up to 21 per cemt of MP is tribal, who speak at least seven languages, while the literature provided by the government is in Hindi, according to this 2015 report by the Comptroller Auditor &General (CAG).
 
The CAG report also revealed how 13 state governments used sanitation funds for other purposes, such as salary advances and paid leave for staff, vehicle purchases, pension contributions and creation of capital assets such as office and school buildings.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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