We had mentioned in last week’s closing report that Nifty, Sensex were on an uptrend. The major indices of the Indian stock markets were range-bound during the week and closed with small weekly gains on Friday over last Friday’s close. The trends of the major indices in the course of the week’s trading are given in the table below:
The major indices of the Indian stock markets were range-bound on Monday and closed with small losses over Friday’s close. On the NSE, there were 870 advances, 887 declines and 318 unchanged.
Negative Asian markets and profit booking checked the upmove of equity indices on Monday. Except for IT (information technology), selling pressure was witnessed in almost all the counters led by the oil and gas stocks. Consumer durables, banking and finance stocks also traded lower. The investor sentiments were also weighed down ahead of the release of the key macro-economic data (PMI service data) and a declining rupee. The domestic currency was trading 59 paise lower, at 73.03 to a US dollar, from its Friday close of 72.44. In addition, the benchmark Brent crude was below the $73 a barrel.
The US on Monday unleashed its "toughest ever" sanctions against Iran, a move that has already sparked mass protests in the oil-rich nation. US President Donald Trump's administration reinstated all sanctions removed under the 2015 nuclear deal, targeting both Iran and states that trade with it, reports the BBC. More than 700 individuals, entities, vessels and aircraft were now on the sanctions list, including major banks, oil exporters and shipping companies. Before travelling to a campaign rally for the US midterm elections, President Trump said Iran was already struggling under his administration's policies.
State Bank of India (SBI) reported Q2FY19 standalone results with net interest income (NII) at Rs20,905.69 crore (Rs18,585.90 crore), up 12.5% year-on-year. Net profit was at Rs944.87 crore (Rs1,581.55 crore), down 40.3% year-on-year. Provisions were at Rs10,184.50 crore (Rs16,715.20 crore). Gross non-performing assets (GNPA) were at 9.95% (9.83%) and Net non-performing assets (NNPA) were at 4.84% (5.43%).
Indraprastha Gas reported Q2FY19 results with revenues at Rs1,568.73 crore (Rs1,231.35 crore), up 27.4% year-on-year. Profit after tax was at Rs187.23 crore (Rs168.87 crore), up 10.90% year-on-year. Earnings per share were at Rs2.68 (Rs2.41).
The major indices of the Indian stock markets were range-bound on Tuesday and ended flat. On the NSE, there were 856 advances, 856 declines and 345 unchanged.
Amid a slight recovery in the domestic currency and mixed global cues the benchmark Sensex gained over 200 points during the afternoon session of the trade on Tuesday. Buying was witnessed in the metal, capital goods and telecom counters whereas auto and metal counters were under selling pressure. By the end of the day’s trading, the gains made during the day were shed and the major indices ended flat. The domestic currency was at 72.97 to a US dollar, from its Monday's close of 73.12. In addition, the benchmark Brent crude was below the $73 a barrel.
Manappuram Finance reported Q2FY19 consolidated results with total revenue at Rs1,014.43 crore (Rs830.61 crore), up 22.1% year-on-year. Net profit was at Rs222.19 crore (Rs159.80 crore), up 39% year-on-year. Earnings per share were Rs2.66 (Rs1.89). Interim dividend of Rs0.55 per share was declared.
Graphite India reported Q2 FY19 consolidated results with revenue at Rs2,345 crore (Rs528 crore), up 344.1% year-on-year. Net Profit was at Rs1,113 crore (Rs103 crore), up 980.6% year-on-year. Earnings per share were Rs56.87 (Rs5.25). Interim dividend of Rs20 per share was declared.
In Muhurat trading on Wednesday, the major indices of the Indian stock markets rallied and closed with gains over Tuesday’s close. On the NSE, there were 1,405 advances, 279 declines and 75 unchanged.
Thursday was a trading holiday for the stock markets in India.
The major indices of the Indian stock markets were range-bound on Friday and closed with minor losses over Wednesday’s close. On the NSE, there were 940 advances, 843 declines and 77 unchanged.
The Securities and Exchange Board of India on Friday said Reliance Communications (RCOM) has settled its case with the regulator by paying Rs62.40 lakh over alleged non-cooperation with credit rating agencies and debenture trustee.