We had mentioned in Monday’s closing report that Nifty, Sensex would continue to move in a range. The major indices of the Indian stock markets were range-bound on Tuesday and closed with gains over Monday’s close. On the NSE, there were 826 advances, 899 declines and 364 unchanged. The trends of the major indices in the course of Tuesday’s trading are given in the table below:
The benchmark Sensex traded on a flat to positive note on Tuesday. At the close of trading there were small gains in all the major indices.
The Congress manifesto for the Lok Sabha elections released on Tuesday aims to focus on "a forward looking economy" and spells out how to get rid of chronic poverty, former Prime Minister Manmohan Singh said. "The manifesto's purpose is to focus to move towards a forward looking economy. All would like India to be a prosperous country, a country where prosperity and productivity go together," he told the media here.
Air passengers may have to spend more as oil marketing companies have increased the price of aviation turbine fuel (ATF). ATF now costs Rs63,472.22 per kilolitre in Delhi, up Rs677 (over 1%) from Rs62,795 per kl last month, according to the notification by the Indian Oil Corporation. A similar hike in the prices was seen in Kolkata, Mumbai and Chennai. The aviation sector is seeing flared-up fares due to capacity constraints caused by reasons like shortage of aircraft in the wake of grounding of Boeing MAX 737 globally over safety concerns. Jet Airways might feel the pinch more given its ongoing struggle to stay afloat.
Coal India Ltd (CIL) said it has, for the first time, breached the 600 million tonne (MT)-mark in its production and off-take, clocking a 7% and 4.8% growth, respectively, during 2018-19 fiscal but missed the annual targets on both fronts marginally. Coal India shares closed at Rs236.00, down 0.17% on the NSE.
The Delhi High Court sought responses of the National Housing Bank (NHB) and the PNB Housing Finance Limited (PNBHFL) on a plea seeking to protect interests of home loan customers who have become victims of corporate malice. A Bench of Chief Justice Rajendra Menon and Justice Anup Jairam Bhambhani asked the NHB, the agency promoting housing finance institutions in the country, and the PNBHFL to file responses by August 9, the next date of hearing. In his public interest litigation (PIL), Abhijit Mishra alleged the PNBHFL was engaged in "malicious and illegal predatory lending practice" and sought its audit by the NHB. The petitioner has also sought action against the PNBHFL under the provisions of the National Housing Bank Act for failing to comply with the NHB's master circular. He said the PNBHFL had been disbursing housing loans, sanctioned to individuals, without closely linking them to the stages of house construction. Innocent people, who had not complied with the mandatory norms of the NHB, the Real Estate Regulatory Authority (RERA), the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (SARFAESI) and the Greater Noida Industrial Development Authority were becoming victims of PNBHFL's malpractices.
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: