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Bulls ride on election outcome, Nifty closes above 9,100-mark

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Mumbai, March 18, 2017: Riding on the outcome of the just-concluded assembly elections, key Indian equity indices zoomed to new 52-week highs and crossed their psychologically significant levels. The benchmark NSE Nifty hit a record intra-day high and closed above the 9,100-mark for the first time during the truncated week ended Friday.

On Friday, the wider 51-scrip Nifty of the National Stock Exchange (NSE) touched a new record intra-day high of 9,218.40 points. Similarly, the Sensex touched a new 52 week-high of 29,824.62 points.

The bull run continued for the second consecutive week as the outcome of the assembly elections in five states and positive global cues enhanced the risk-taking appetite of investors.

The positivity in the equity markets was also favoured by a strong rupee and substantial inflows of foreign funds.

The barometer 30-scrip Sensitive Index (Sensex) of the BSE surged by 702.76 points or 2.43 per cent to close at 29,648.99 points, while the NSE Nifty was up by 225.5 points or 2.52 percent at 9,160.05 points.

“Markets zoomed higher this week to touch new life highs. The Nifty closed above the 9,100 level for the first time ever,” Deepak Jasani, Head – Retail Research, HDFC Securities, told IANS.

Market observers pointed out that the BJP victory in Uttar Pradesh and Uttarakhand assemblies elevated the mood of the Indian equity markets.

“The election results will provide the much-needed boost to the ruling-BJP to accelerate the pace of reforms, including the roll-out of the crucial Goods and Services Tax (GST), slated to be implemented from July 1, 2017,” said Vijay Singhania, founder and Director of brokerage firm Trade Smart Online.

D.K. Aggarwal, Chairman and Managing Director, SMC Investments and Advisors, told IANS: “In the week gone by, the global markets moved higher and higher as confidence continued to return to the markets, and also after the (US) Federal Reserve indicated it was unlikely to speed up monetary tightening.”

On Wednesday, the benchmark Indian indices well-absorbed the 25 basis points (bps) rate hike by the US Federal Reserve for the second time in three months and the third time since the 2008 global financial crisis.

“Moreover, the industrial activity has shown some improvement in January, after the contraction in December, which also indicated that the negative effects of demonetisation are gradually waning,” Aggarwal said.

According to Dhruv Desai, Director and Chief Operating Officer of Tradebulls, the Indian equity markets traded with firm sentiments tracking bearish USD/INR futures prices and continuous buying support.

“Continuous funds flow witnessed by FIIs (foreign institutional investors) in this week indicated continuation of the uptrend in the Indian equity markets,” Desai pointed out.

The Indian rupee strengthened by 1.15 paise to 65.46 against a US dollar from last week’s close of 66.61.

In terms of investments, provisional figures from the stock exchanges showed that FIIs purchased stocks worth Rs 8,121.51 crore during the week, while domestic institutional investors (DIIs) divested scrip worth Rs 2,192.86 crore.

Figures from the National Securities Depository (NSDL) disclosed that foreign portfolio investors (FPIs) bought equities worth Rs 7,495.85 crore, or $1.13 billion, during March 14-17.

Commenting on sector-specific movement, Rakesh Tarway, Head of Research, Reliance Securities, said: “FMCG gained by 5.1 per cent, high beta sectors like realty and metals also reversed its last week losses to gain by 4.9 per cent and 3.1 per cent respectively, while other sectors gained by around 2.5 per cent.”

The top weekly Sensex gainers were: Adani Ports (up 7.93 per cent at Rs 324.60), Tata Steel (up 6.93 per cent at Rs 502.05), ITC (up 6.19 per cent at Rs 281.20), HDFC (up 5.74 per cent at Rs 1,450) and Larsen and Toubro (L&T) (up 4.99 per cent at Rs 1,550.70).

The losers were: Coal India (down 8.94 per cent at Rs 289.75),Bharti Airtel (down 3.77 per cent at Rs 346.80), Gail (down 1.23 per cent at Rs 374.75), Power Grid (down 0.39 per cent at Rs 193.50), and Mahindra and Mahindra (M&M) (down 0.07 per cent at Rs 1,303).

By Porisma P. Gogoi

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Equity indices close higher, RIL top gainer

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SENSEX-

Mumbai, April 24: Healthy buying in oil and gas, banking and auto stocks, coupled with broadly positive global cues, lifted the key Indian equity indices on Tuesday.

Index heavyweights like Reliance Industries (RIL), Yes Bank, Adani Ports, Mahindra, Larsen and Toubro were the top gainers on the BSE.

However, heavy selling pressure in metals, IT and consumer durables stocks trimmed some gains of the benchmark indices, market observers said.

The wider Nifty50 of the National Stock Exchange (NSE) rose by 34.05 points or 0.32 per cent to provisionally close (at 3.30 p.m.) at 10,618.75 points.

The barometer 30-scrip Sensitive index (Sensex) of the BSE, which opened at 34,491.38 points, closed at 34,616.64 points — up 165.87 points or 0.48 per cent from its previous session’s close.

The Sensex touched a high of 34,706.71 points and a low of 34,465.49 points during the intra-day trade.

In contrast, the BSE market breadth remained bearish with 1,479 declines and 1,191 advances.

On Monday, the equity indices closed a volatile trade session on a flat-to-positive note as healthy quarterly results drove investors’ sentiments.

The Nifty50 closed higher by 20.65 points or 0.20 per cent at 10,584.70 points, while the Sensex closed at 34,450.77 points — up 35.19 points or 0.10 per cent.

IANS

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Xiaomi, Jio top India market

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xiaomi jio

New Delhi, April 24: Xiaomi continued to lead the Indian smartphone market with 31.1 percent market share while Reliance Jio topped the feature phone market with a massive 35.8 percent share in the first quarter of 2018, a new report has said.

Xiaomi was the leader with 25 per cent market share in Q4 of 2017.

According to Counterpoint’s “Market Monitor” service, Samsung with 26.2 per cent share was second, followed by Vivo at 5.8 per cent share in the smartphone segment.

Driven by the feature phone segment which doubled owing to strong shipments of Reliance JioPhone, India’s overall mobile phone shipments grew 48 per cent (YoY) in Q1 2018.

Honor (Huawei) entered top five smartphone brands for the first time. Honor (146 per cent), Xiaomi (134 per cent) and OnePlus (112 per cent) were the fastest growing smartphone brands.

“Q1 2018 started off with some brands sitting on inventory post the festive season in Q4 2017, which continued throughout the quarter as industry moves to a Full View display portfolio,” Karn Chauhan, Research Analyst, said in a statement.

Furthermore, the quarter was also marked with less than normal smartphone launches as very few brands refreshed their portfolio, except for Xiaomi and Samsung which benefitted from the new launches.

“However, we expect the demand to start picking up from early Q2 2018 onwards, driven by faster replacement rate of existing 2G and 3G smartphone users upgrading to 4G mobile phones,” Chauhan added.

This is the first time that the top five smartphone brands accounted for more than 70 per cent market share in a single quarter.

“Xiaomi and Samsung alone captured 58 per cent of the total smartphone market. Xiaomi’s Redmi Note 5 and 5 Pro were the most popular models for the Chinese brand, whereas Samsung Galaxy J7 NXT and J2 (2017) drove volumes for the Korean vendor,” said Anshika Jain, Research Analyst.

The performance of Chinese brands remained strong, accounting for 57 per cent of the total smartphone market in Q1 2018, up from 53 per cent during Q1 2017.

“The demand for JioPhone continued through Q1 2018 as Reliance Jio’s feature phone market share raced from 0 per cent last year to 36 per cent in Q1 2018. This demand was catalysed by the introduction of a cheaper data plan,” said Tarun Pathak, Associate Director.

China based Transsion Group (the holding group of Tecno, Itel and Infinix) has become the fifth largest player with four per cent market share in Q1 2018 (combined for all three brands).

The race for the fifth position is quite close between Lava, Micromax, Honor, Nokia (HMD) and Lenovo (+Moto) brands.

Itel is the third largest player in the feature phone segment with 17 per cent growth (YoY).

IANS

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Key equity indices provisionally end in green

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Mumbai, April 23: The key Indian equity indices provisionally closed in the green on Monday on the back of healthy buying in consumer durables, healthcare and IT stocks.

However, selling pressure on metal and fast moving consumer goods (FMCG) stocks trimmed gains in the market.

At 3.30 p.m., the wider Nifty50 of the National Stock Exchange (NSE) provisionally closed higher by 20.65 points or 0.20 per cent at 10,584.70 points.

The barometer 30-scrip Sensitive index (Sensex) of the BSE, which opened at 34,493.69 points, closed at 34,450.77 points (3.30 p.m.) — up 35.19 points or 0.10 per cent — from its previous session’s close.

The Sensex touched a high of 34,663.95 points and a low of 34,259.27 during the intra-day trade.

The BSE market breadth was bullish with 1,399 advances and 1,284 declines.

On Monday, the major gainers on the BSE were IndusInd Bank, Mahindra and Mahindra, Sun Pharma, Asian Paints and Yes Bank while HDFC Bank, Tata Motors (DVR), Coal India, Hero MotoCorp and ICICI Bank were among the major losers.

On NSE, the top gainers were IndusInd Bank, Mahindra and Mahindra and BPCL. The major losers were Hindalco Industries, Indiabulls Housing Finance and UPL.

On Friday, negative global cues such as high crude oil prices, along with a weak rupee and heavy selling pressure in banking stocks subdued the key Indian equity markets.

The Nifty50 closed at 10,564.05 points on Friday, down 1.25 points or 0.01 per cent from its previous close and the Sensex closed at 34,415.58 points, down 11.71 points or 0.03 per cent.

IANS

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