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Equities extend gains on healthy macro-data, global cues

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Sensex

Mumbai, April 14: Key Indian equity indices — the BSE Sensex and NSE Nifty50 — extended their gains for the third consecutive week as healthy macro-economic data, along with firm global cues on the back of fading trade war fears boosted investors’ sentiments.

On a weekly basis, the barometer 30-scrip Sensitive Index (Sensex) of the BSE surged by 565.68 points or 1.68 per cent to close at 34,192.65 points.

The wider Nifty50 of the National Stock Exchange (NSE) closed trade at 10,480.60 points — up 149 points or 1.44 per cent from its previous week’s close.

“Markets rallied further this week after consolidating in the early part of the week. It was the third consecutive week of gains for the Nifty,” Deepak Jasani, Head – Retail Research, HDFC Securities, told IANS.

“The top sectoral gainers were IT, metal, Bank Nifty and energy indices. The top losers were PSU Banks, realty and pharma indices,” he added.

Prateek Jain, Director, Hem Securities, said: “Markets settled on a firm note last week as investors appeared confident in view of firm global cues. Stock markets across the globe rose after a speech by Chinese President Xi Jinping calmed investor jitters over an escalating US-China trade row.”

“Escalating tensions over Syria were seen as a major contributor to weakness during the middle of the week. The Sensex and the Nifty advanced in all five trading sessions of the week,” Jain told IANS.

On the domestic front, healthy Consumer Price Index (CPI) and Index of Industrial Production (IIP) data added to the northward trajectory of the benchmark indices.

“The domestic market continued to trade higher and the Nifty managed to cross 10,500 levels in the week gone by amid global clues and healthy macro data,” D.K. Aggarwal, Chairman and Managing Director of SMC Investments and Advisors, told IANS.

Official data released post market hours on Thursday showed that India’s March retail inflation eased to 4.28 per cent, while factory production growth slowed only marginally in February to 7.1 per cent.

“The fears of a trade war seem to have completely abated as of now,” Aggarwal said.

According to Aggarwal, the sentiments were further supported after securities market regulator Sebi decided to raise the investment limit for foreign portfolio investors (FPIs) in central government securities and corporate bonds in two tranches.

“Limit for FPIs in central government securities shall be enhanced to Rs 207,300 crore on April 12 and to Rs 223,300 crore on October 1, respectively and this is sure to boost inflows of foreign funds into Indian capital markets,” he added.

On the investment front, provisional figures from the stock exchanges showed that foreign institutional investors sold scrips worth Rs 1,654.31 crore, while the domestic institutional investors purchased stocks worth Rs 815.06 crore during the week.

Figures from the National Securities Depository (NSDL) revealed that FPIs divested equities worth Rs 1,178.98 crore, or $182.25 million, during April 9-13.

The top weekly Sensex gainers were: Axis Bank (up 8.23 per cent at Rs 541.90); Tata Consultancy Services (up 6.82 per cent at Rs 3,151); Coal India (up 3.59 per cent at Rs 285.35); Infosys (up 3.52 per cent at Rs 1,169); and Larsen and Toubro (up 3.37 per cent at Rs 1,355.30).

The losers were: State Bank of India (down 3.31 per cent at Rs 251.20); Tata Motors (down 1.98 per cent at Rs 356.65); Bharti Airtel (down 1.97 per cent at Rs 377.80); Dr. Reddy’s Lab (down 1.75 per cent at Rs 2,087); and Tata Motors (DVR) (down 1.74 per cent at Rs 202.80).

IANS

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Petrol, diesel prices down for 3rd consecutive day

In tandem with petrol, the cost of diesel declined on Saturday across all metros in a range of 12-13 paise.

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Mumbai, Oct 20 : The state-run oil marketing companies (OMCs) cut the prices of key domestic transportation fuels — petrol and diesel — for the third consecutive day on Saturday.

The prices of petrol and diesel were lowered in the national capital by 39 and 12 paise respectively.

According to the IndianOil Corp data, petrol was priced at Rs 81.99 per litre in the national capital, down from Rs 82.38 on Friday.

As per the data, the petrol was priced at Rs 87.46 in Mumbai, Rs 84.83 in Kolkata and Rs 85.22 per litre in Chennai down in the range of 38-41 paise.

As per the country’s pricing mechanism, the domestic fuel prices depend on international fuel prices on a 15-day average besides the value of the rupee.

Prices vary from region to region due to local taxes as the product is excluded from the GST regime. Delhi has the lowest tax rate among the four metro cities.

In tandem with petrol, the cost of diesel declined on Saturday across all metros in a range of 12-13 paise.

On Saturday, the diesel price in Mumbai was at Rs 79 from its previous price of 79.13 on Friday.

Prices of diesel in Delhi, Kolkata and Chennai declined to Rs 75.36, Rs 77.21 and Rs 79.69 a litre from the Friday’s Rs 75.48, Rs 77.33 and Rs 79.82 respectively.

The downward revision also comes on the back of multiple factors such as lower international crude oil cost and a strengthened rupee against the US dollar.

Accordingly, the Brent crude was priced below $80 per barrel, which in recent past traded around $85 a barrel, while the rupee closed at 73.50 to a greenback from its previous close of 73.61 to a US dollar.

On a daily basis, the decline in petrol and diesel prices commenced on Thursday nearly a fortnight after Finance Minister Arun Jaitley announced a cut in excise duty by Rs 1.50 a litre.

Additionally, the state-owned oil marketing companies (OMCs) had been mandated to reduce prices of petrol and diesel by Re 1 a litre. This is the first time after the announcement that the prices have come down.

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Flipkart, Amazon claim record online festive sales

World’s retail giant Walmart on August 18 completed acquiring 77 per cent equity stake in Flipkart for a whopping $16 billion (Rs 107,662 crore).

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Bengaluru, Oct 18 : India’s leading e-tailer Flipkart and its American rival Amazon on Thursday claimed record online sales ahead of Dusshera and Diwali festivals.

“We made a record-breaking business during the five-day sales festival on October 10-14 in diverse categories, including smartphones, electronic gadgets, home appliances, furniture and fashion,” Flipkart said in a statement on Thursday.

The Indian arm of Amazon also said it had record sales across categories during its great Indian festival celebration from October 10-15, with a 12-hour prime early access to its prime members.

“We had an overwhelming response to the fifth edition of the fest, with sales in the first 36 hours surpassing the first wave of last year and exceeded our plans,” said the city-based Amazon.

Both have, however, admitted that maximum sales were in the smart phones category, followed by televisions, laptops, home appliances and fashion in Gross Merchandise Value (GMV).

“We accounted for half of the e-tailer industry’s GMV, driven by higher sales in mobiles and fashion verticals, which grew 70 per cent and 78 per cent,” said Flipkart.

“Smart-phones had their biggest season, with Xiaomi selling over 1 million devices in a day followed by OnePlus with sales of Rs 400 crore in a day and premium phones sales exceeding a month of all India online sales,” said Amazon India head Amit Agarwal.

On the second day of sales, Flipkart began its offers on mobiles and sold one million in the first hour, ending the day with 3 million units.

“Three-in-four mobiles bought during the fest was on Flipkart,” said the Walmart-owned company.

World’s retail giant Walmart on August 18 completed acquiring 77 per cent equity stake in Flipkart for a whopping $16 billion (Rs 107,662 crore).

“We recorded 70 per cent share of the e-tail market in the country to match the scale of marquee retail events and demonstrated our position as market leader,” said Flipkart Chief Executive Kalyan Krishnamurthy.

Flipkart also claimed 85 per cent share of online market in fashion and 75 per cent in large appliances.

Amazon customers from 99 per cent pin codes placed an order in 4 days, with 80 per cent new customers from small towns.

“Large appliances sales in a single day for Amazon exceeded that of first wave for last festive sale; with 50 per cent sales from tier-2 and below towns,” said Agarwal.

One out of 2 Flipkart shoppers used payment options like EMIs and bank offers, driving 60 per cent of its overall sales and enabling customers to upgrade products in categories like mobiles, TVs and laptops.

“Fashion has brought in 40 per cent new customers and enabled us to maintained leadership with 85 per cent share,” added Krishnamurthy.

For Amazon too, fashion was the biggest category in units sold and new customers acquired, with 63 per cent orders from tier-2 and 3 cities.

“Two out of three of our customers benefited from exchange, EMIs and bank offers. New sellers who took part in the fest for the first time saw 300 per cent jump in sales, with 7,000 of them crossing the millionaire mark,” noted Agarwal.

IANS

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Reliance Jio posts Rs 681 crore profit in Q2

The subscriber base of Jio as on September 30, 2018 was 252.3 million, with an average revenue per user (ARPU) during the quarter at Rs 131.7 per month.

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Jio puts Mukesh Ambani on top of Forbes' Global Game Changers

Mumbai, Oct 17 : Reliance Jio, a subsidiary of Reliance Industries Limited, on Wednesday said it posted a standalone net profit of Rs 681 crore in the quarter through September on the back of (as yet) highest quarterly subscriber addition of 37 million.

It had posted a net loss of Rs 271 crore in the same quarter a year ago.

The company had recorded a net profit of Rs 612 crore in the first quarter of this fiscal year.

The standalone revenue from operations in the second quarter of this fiscal year ending March 2019 stood at Rs 9,240 crore, a massive on-year jump of 50.3 per cent, Reliance Jio Infocomm Ltd said in a statement.

The subscriber base of Jio as on September 30, 2018 was 252.3 million, with an average revenue per user (ARPU) during the quarter at Rs 131.7 per month.

The total wireless data traffic during the quarter was at a record 771 crore GB with per user average data consumption of 11 GB per month. The total voice traffic was 53,379 crore minutes in the quarter.

“Jio was conceived with a mission to connect everyone and everything, everywhere – always at the highest quality and the most affordable price… We have enabled our customers to adopt the digital life, with record consumption of data and use of digital services,” said Mukesh Ambani, Chairman and Managing Director, Reliance Industries.

“We are making rapid progress on the growth of our digital platforms, across new commerce, media and entertainment, agriculture, education, healthcare and financial services, which will further enhance the quality of life and productivity of the people of India,” he added.

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