Weekly Moneylife Indices & Sector Trends
INDIAN MARKET TRENDS
 
For the week ended 5 July 2019, the Sensex, the NIFTY and ML Mega-cap Index ended flat. ML Large-cap Index, ML Mid-cap Index and ML Small-cap Index fell 1% each. ML Micro-cap Index fell 2%.
 
 
FUND FLOWS
Foreigners: Foreign institutional investors were net sellers of equities for the week (Rs593.98 crore). They sold shares worth...
Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital Access

Subscribe

Moneylife Magazine Subscriber or MAS member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation
  • Nifty, Sensex Headed Lower – Weekly closing report
    We had mentioned in last week’s closing report that Nifty, Sensex lacks upward momentum. The major indices of the Indian stock markets were volatile and closed with gains over previous Friday’s close. The trends of the major indices in the course of the week’s trading are given in the table below:­
     
     
     
    On Monday, the indices ended with gains. On the NSE, there were 904 advances, 872 declines and 327 unchanged. Automobile major Mahindra and Mahindra reported 6% fall in total sales to 42,547 units in June 2019.
     
    The company had sold 45,155 units in the corresponding month last year. In the domestic market, sales were down 5% to 39,471 units last month, compared with 41,689 units in June 2018. Ashok Leyland reported 19% decline in total vehicle sales at 12,810 units in June as against 15,792 units in the same month last year. Total domestic sales were at 12,085 units last month as compared to 14,091 units in June last year, down 14%, the company said in a regulatory filing.
     
    On Tuesday, the indices rallied. On the NSE, there were 819 advances, 930 declines and 334 unchanged. Airtel Payments Bank has partnered with Bharti AXA Life Insurance to offer Bharti AXA Life POS Saral Jeevan Bima Yojana --a pure life term plan--through its extensive network of banking points across the country. Any individual between the ages of 18 and 55 can enrol for this product without the need to undergo a medical examination. Oil and Natural Gas Corporation has signed a memorandum of understanding with IOC for CO2 based enhanced oil recovery (EOR) by injecting CO2 captured from IOC's Koyali refinery. 
     
    On Wednesday, the indices were range bound. On the NSE, there were 956 advances, 771 declines and 362 unchanged. Indiabulls Housing Finance said it is buying back NCDs maturing in September worth Rs1,375 crore and rupee denominated bonds maturing in October worth Rs 1,330 crore. The NBFC said it is going for early redemption of non-convertible debentures (NCDs) and masala bonds (rupee denominated bonds) on the back of strong cash position of the company. 
     
    The US Food and Drug Administration (USFDA) has issued a warning letter to Aurobindo Pharma on its unit XI. The warning letter is centered on the issue of the manufacture of Valsartan API. Drug firm Zydus Cadila received the final nod from the US health regulator to market its generic Misoprostol tablets used for preventing stomach ulcers. The drug will be manufactured at the group's formulations manufacturing facility at SEZ, Ahmedabad, it added.
     
    On Thursday, the indices remained flat. On the NSE, there were 909 advances, 829 declines and 351 unchanged. Promoters of Dish TV might sell their 58% holding in the company to Bharti Airtel's DTH arm for around Rs5,000 crore, as per media reports. Airtel Digital TV and private equity firm Warburg Pincus are likely to partner and purchase the Goel family’s stake for Rs45-50 per share, or between Rs4,800 crore and Rs5,300 crore, the report said. 
     
    Shares of Quess Corp tumbled as much as 20% before closing 13% down when one of its associates in Ahmedabad smart city project was declared a defaulter. The National Company Law Appellate Tribunal (NCLAT) on July 4 rejected the plea of the Ruia family that challenged the eligibility of ArcelorMittal’s Rs42,000 crore bid for Essar Steel. The NCLAT also revised the approved claims of operational creditors to Rs19,700 crore, up from Rs5,000 crore, stating that there was a large disparity in the claims and the data provided to the NCLAT.
     
    On Friday, the indices suffered a correction. The Union Budget 2019-20 failed to cheer the equity market as the BSE Sensex slumped over 460 points minutes after Finance Minister Nirmala Sitharaman concluded her speech. On the NSE, there were 476 advances, 1,256 declines and 348 unchanged. Finance Minister Nirmala Sitharaman has proposed to provide an income tax deduction of Rs1.5 lakh on the interest paid on loan taken to buy EVs. The buyer of an EV can enjoy a total benefit of Rs2.5 lakh over the purchase period, Sitharaman added. 
     
    The minister also proposed to increase the minimum public shareholding norms to 3%, up from 25%. The Union Budget seeks to relax local sourcing norms in foreign direct investment (FDI) for single-brand retailers. The proposal is good news for brands like Ikea, H&M, Apple, and others. More brands may join the queue if the relaxations are significant. 
     
    Yes Bank acquired over 9% stake in battery maker Eveready Industries by invoking pledged shares following loan default by a group company McLeod Russel, both part of B M Khaitan Group. 
     
  • User

    Nifty, Sensex Subdued Ahead of the Budget – Thursday closing report
    We had mentioned in Wednesday’s closing report that Nifty, Sensex are trending up. The major indices remained flat and ended with gains. On the NSE, there were 909 advances, 829 declines and 351 unchanged. The trends of the major indices in the course of Thursday’s trading are given in the table below:
     
     
    The indices opened on a positive note ahead of the presentation of the Economic Survey in Parliament. The Economic Survey will show the situation of the country’s economy and its several segments and talk about the issues it may face in future.
     
    Promoters of Dish TV might sell their 58% holding in the company to Bharti Airtel's DTH arm for around Rs5,000 crore, media reports. Airtel Digital TV and private equity firm Warburg Pincus are likely to partner and purchase the Goel family’s stake for Rs45-50 per share, or between Rs4,800 crore and Rs5,300 crore, the report said.
     
    Shares of high-flying Quess Corp tumbled 20%. It declined for the fourth consecutive session and also hit a 52-week low on the BSE on the back of heavy volumes. In the last four trading days, the company's market price has plunged 20%. Last week, at its board meeting, the company deferred the decision on raising funds. 
     
    Quess’s troubles to the fact that one of its associates involved in the Ahmedabad amart city project, is unable to pay back the tha bank which has declared it defaulter. In its annual report for FY19, it said that it faced certain issues on the working capital front due to longer cash collection cycles, even as it successfully executed the project. 
     
    The National Company Law Appellate Tribunal (NCLAT) on July 4 rejected the plea of the Ruia family that challenged the eligibility of ArcelorMittal’s Rs42,000 crore bid for Essar Steel. The NCLAT also revised the approved claims of operational creditors to Rs19,700 crore, up from Rs5,000 crore, stating that there was a large disparity in the claims and the data provided to the NCLAT. The total claims of financial, operational creditors now stand at Rs69,192 crore.
     
    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:
     
  • User

    We are listening!

    Solve the equation and enter in the Captcha field.
      Loading...
    Close

    To continue


    Please
    Sign Up or Sign In
    with

    Email
    Close

    To continue


    Please
    Sign Up or Sign In
    with

    Email

    BUY NOW

    online financial advisory
    Pathbreakers
    Pathbreakers 1 & Pathbreakers 2 contain deep insights, unknown facts and captivating events in the life of 51 top achievers, in their own words.
    online financia advisory
    The Scam
    24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
    Moneylife Online Magazine
    Fiercely independent and pro-consumer information on personal finance
    financial magazines online
    Stockletters in 3 Flavours
    Outstanding research that beats mutual funds year after year
    financial magazines in india
    MAS: Complete Online Financial Advisory
    (Includes Moneylife Online Magazine)