Nifty, Sensex Mildly Trending Up – Tuesday closing report
We had mentioned in Monday’s closing report that Nifty, Sensex were lacking any bullish trigger. The major indices of the Indian stock markets traded on a flat note on Tuesday after opening in the positive territory. On the NSE, there were 808 advances, 960 declines and 329 unchanged. The trends of the Indian stock markets in the course of Tuesday’s trading are given in the table below:
 
 
The economic growth numbers have come back to haunt the government with former Chief Economic Advisor (CEA) Arvind Subramanian also questioning the change in GDP calculation methods and numbers effected last year. In his recent research paper published by Harvard University, the former CEA has said there is a possibility of substantial overestimation in the growth figures while stating that the actual GDP growth between 2011-12 and 2016-17 was around 4.5% as against 7%.
 
Rebutting rumours about the financial health of Reliance ADAG Group, Anil Ambani on Tuesday said the group has met debt servicing obligation of Rs35,000 crore during the period from 1 April 2018 to 31 May 2019. According to him, the debt servicing component comprises of principal repayments of Rs24,800 crore and interest payments of Rs10,600 crore.
 
Southwest monsoon this year has become a thing of concern for policymakers as it has not just been delayed by a week, but it is also likely to be sluggish and erratic, which may spell trouble for the farm sector. Paddy, the primary crop of the kharif season, is likely to be hit as June as well as July are expected to be rain-deficit. The output of pulses such as arhar (pigeon pea), soybean and coarse cereals is also likely to be affected.
 
Jaguar Land Rover (JLR), the UK subsidiary of Tata Motors, on Tuesday reported a decline of 12.2% on year-on-year basis in retail sales in May at 42,370 units hit by weak demand in China, overseas market and Europe. Tata Motors was up 2.74% today.
 
Shares of Sun Pharma dropped nearly 4% intraday on June 11 after brokerage firm Goldman Sachs downgraded the stock to sell and cut the target price from Rs437 to Rs355. The global financial firm attributed the downgrade to Sun Pharma's spending in speciality pharma which will impact the company's profit growth.
 
Refuting charges of misappropriation of around Rs98,000 crore by its Chairman Sameer Gehlaut and other directors, Indiabulls Housing Finance late on Monday evening said that the allegation is "bizzare" and is meant to malign the reputation of the company. The statement comes after a plea was filed in the Supreme Court on Monday seeking legal action against Indiabulls Housing Finance, Gehlaut and the directors for the alleged misappropriation of public money. Indiabulls stock dropped by more than 8% today.
 
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:
 
 
 
 

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Nifty, Sensex Lacking Bullish Trigger - Monday closing report
We had mentioned in Friday’s closing report that Nifty, Sensex were range-bound. The major indices of the Indian stock markets opened in the green on Monday and closed with gains over Friday’s close. On the NSE, there were 701 advances, 1083 declines and 331 unchanged. The trends of the major indices in the course of Monday’s trading are given in the table below:
 
 
Both the domestic and Asian investor sentiment strenthened after US President Donald Trump on Friday announced that he would not impose 5% tariffs on Mexican exports, as Mexico agreed to strengthen immigration enforcement.
 
Former ICICI Bank CEO and managing director Chanda Kochhar on Monday skipped questioning by the Enforcement Directorate (ED) in connection with a Rs 1,875-crore Videocon loan case citing poor health. Last month, Chanda Kochhar and her husband Deepak Kochhar were questioned five times by the financial probe agency in the national capital. The case relates to the alleged irregularities and corrupt practices in the sanction of Rs1,875-crore loan disbursed by ICICI Bank to the Videocon Group between 2009 and 2011.
 
The stock of YES Bank was down 5% at Rs133 per share on Monday on concerns of eroding balance sheet strength, rising non-performing assets (NPAs), capital raising concerns and weak visibility of profits. 
 
Vodafone Idea on Saturday said that its shareholders and creditors have approved proposal to transfer optical fibre assets to its wholly-owned subsidiary Vodafone Towers Limited. On April 11, 2019, the Mumbai-headquartered telecom company had filed a petition with National Company Law Tribunal Ahmedabad, seeking approval for the transfer of its telecom fibre infrastructure to Vodafone Towers. The decision to hive off its fibre assets into a separate entity is part of the Vodafone's strategy to monetise its assets apart from its stake in the joint entity of Bharti Infratel and Indus Towers which is close to completing their merger.
 
Bharat Petroleum Corporation Ltd plans to invest Rs6,877 crore to modernise its Mumbai refinery complex by replacing the old Catalytic Cracking Unit and Fluidised Catalytic Cracking Unit with a new, state-of-the-art Petro Resid Fluidized Catalytic Cracking Unit and associated facilities, the State-run refiner said in an application seeking environment clearance for the project.
 
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:
 
 
 

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While the Market Boomed, NSE 200 Companies Found the Going Tough in the March Quarter
While the Sensex shot up from 36,068 on 31 December 2018 to 39,529 on 6 June 2019, or 10%, companies have struggled to match that enthusiasm. March 2019 was a tough quarter for even the best Indian listed companies. Of the 195 companies in the NSE 200 that have reported their results, revenues rose 11% for the quarter while their operating profit was up just 9%. Five of the NSE 200...
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