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Government urges private sector to invest in rail infrastructure

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New Delhi, Oct 19 : The government on Wednesday urged the private sector to invest in railway infrastructure.

According to Minister of State for Railways Rajen Gohain, Indian Railways offers an attractive and investment friendly environment.

“Need of the hour in Indian Railways is the massive investment and new technology without which we cannot move to become a world class transporter,” Rajen Gohain said at an industry summit organised here.

“Thus, the plan is to increase investment to nearly one trillion rupees in the next decade,” the minister said at ‘Assocham International Summit on Invest Rail’.

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Key Indian equity indices trade flat in morning session

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Mumbai, July 16: The key Indian equity indices was trading flat-to-negative on Monday soon after opening.

The 30-scrip Sensitive Index (Sensex), was trading 15.79 points or 0.04 per cent lower soon after opening.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading 23.30 points or 0.21 per cent lower at 10,995.70 points.

The Sensex of the BSE, which opened at 36,658.71 points, was trading at 36,525.84 points (at 9.30 a.m.), lower 15.79 points or 0.04 per cent from the previous day’s close at 36,541.63 points.

The Sensex touched a high of 36,658.71 points and a low of 36,496.65 points in the trade so far.

IANS

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With Q1 earnings, WPI data scheduled equity indices await eventful week ahead

Market is expecting 19 per cent growth in PAT (profit after tax) for Sensex index stocks and 14.7 per cent for Nifty50 index stocks in Q1, FY19 compared to a washout in last quarter.

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Mumbai, July 15 : After reaching new landmarks in the last couple of trading sessions, the key Indian equity indices are likely to witness another eventful week (June 16-20), with major quarterly earnings and a key macro-economic data point, the Wholesale Price Index, due in the next few days.

According to market observers, further developments in the ongoing trade tensions between the US and China also would set the cues for the global markets.

“The markets next week would look forward to the earnings season as larger companies such as HUL (Hindustan Unilever), Bajaj group of companies will come out with their results,” said Devendra Nevgi, founder and Principal Partner at Delta Global Partners.

According to Geojit Financial Services’ Head of Research, Vinod Nair: “Market is expecting 19 per cent growth in PAT (profit after tax) for Sensex index stocks and 14.7 per cent for Nifty50 index stocks in Q1, FY19 compared to a washout in last quarter.”

“From here on market trend will largely depend on progress of results season,” he said.

Gaurav Jain, Director of Hem Securities said: “We will continue to see stock-specific approach as heavyweights like HDFC Bank, Hindustan Unilever, Ashok Leyland, Zee Entertainment, Ultratech Cement, MindTree, Bajaj Finance, and Kotak Mahindra Bank are scheduled to report their quarterly earnings.”

On the macro front, the government will announce wholesale price inflation (WPI) for June 2018 on Monday, July 16, Jain added.

Further, on the global side, markets would be hoping for easing of trade related issues between the US and China, said Sanjeev Zarbade, Vice President for Research at Kotak Securities.

Noting the significance of oil prices, Zarbade said: “Crude oil prices have corrected a bit and further softening in prices would be positive for global markets”.

In the week ended Friday, fall in crude oil prices was a major factor for the positive trend in the global and domestic equity markets.

As per Delta Global Partners’ Nevgi, the fall in crude prices and weaker US dollar would help the sentiments in the rupee market.

On Friday, the Indian rupee closed at 68.53, strengthening by 35 paise from its previous week’s close of 68.88 per greenback.

Talking on the investor sentiments in the Indian equity market, Nevgi told IANS,the support comes from domestic investors as foreign ones continue to be net sellers.

In the week gone by, provisional figures from the stock exchanges showed that foreign institutional investors sold scrip worth Rs 1,801.65 crore, while the domestic institutional investors purchased stocks worth Rs 2,288.08 crore.

During the upcoming week, Deepak Jasani, Head of Retail Research at HDFC Securities feels, “further upsides are likely, once the immediate resistance band of 11,078-11,171 (Nifty50) is taken out.”

The level of 10,893 points would be a crucial support for the Nifty50 on the National Stock Exchange, he added.

On Friday, the Nifty50 closed at 11,018.90 points — up 246.25 points or 2.29 per cent — from its previous week’s close.
The Sensex on BSE rose by 883.77 points or 2.48 per cent to close at 36,541.63 points on a weekly basis.
On Thursday, the barometer 30-scrip Sensex touched a record high of 36,699.53 points, only to surpass the level the very next day and set a fresh all-time high of 36,740.07 points.

It had also set a new closing high of 36,548.41 points on Thursday.

With another eventful week expected to follow, these instances of fresh benchmarks and landmarks, may not end here.

(Rituraj Baruah can be contacted at [email protected] )

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Market Review: Equity indices surged over 2% this week; Sensex touched new high

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Mumbai, July 14: Supportive global cues and a healthy start to the earnings season lifted the key Indian equity indices over 2 percent in the week ended Friday, with the BSE Sensex setting fresh benchmarks and the NSE Nifty50 closing over the 11,000-mark.

On Thursday, the barometer 30-scrip Sensex touched a record high of 36,699.53 points, only to surpass the level the very next day and set a fresh all-time high of 36,740.07 points.

It had also set a new closing high of 36,548.41 points on Thursday.

Globally, investors’ sentiments were strengthened after reports on Wednesday said China and the US may hold talks to resolve the ongoing trade tensions. Easing crude oil prices was also welcomed by the markets.

However, in the domestic market, weak macro-economic data released on Thursday trimmed the gains.

Index-wise, the wider Nifty50 of the National Stock Exchange closed the week’s trade at 11,018.90 points — up 246.25 points or 2.29 per cent — from its previous week’s close.

The Sensex on BSE rose by 883.77 points or 2.48 per cent to close at 36,541.63 points on a weekly basis.

Market breadth, however, was negative in three out of the five trading sessions of the week, said Deepak Jasani, head of Retail Research at HDFC Securities.

Prateek Jain, Director of Hem Securities said: “Traders and investors seem impressed by the healthy start to the earnings season and easing crude oil prices. But towards the fag end of the week, profit-booking set on concerns of macro indicators.”

Retail inflation grew 5 per cent in June to a five-month high while industrial production slowed down to 3.2 per cent in May on weak manufacturing sector output, Jain said.

According to Equity99’s Senior Research Analyst, Rahul Sharma: “The stock-specific action continued last week with IT major TCS (Tata Consultancy Services) beating market estimates, while IndusInd Bank was in line (with expectation).”

On the currency front, rupee closed at 68.53, strengthening by 35 paise from its previous week’s close of 68.88 per greenback.

In terms of investments, provisional figures from the stock exchanges showed that foreign institutional investors sold scrip worth Rs 1,801.65 crore, while the domestic institutional investors purchased stocks worth Rs 2,288.08 crore in the week bygone.

Figures from the National Securities Depository (NSDL) revealed that foreign portfolio investors (FPIs) divested Rs 1,540.59 crore, or $224.27 million from the equities segment on stock exchanges during the week ended on July 13.

Sector-wise, oil and gas, IT and capital goods ended on a positive note, while metals and auto were among the major losers, Jasani told IANS.

Scrip-wise, Reliance Industries gained the most on the Sensex and in a major development its market capitalisation (m-cap) crossed the $100 billion mark this week.

On Friday, the m-cap of the company at closing was Rs 694,944.56 crore or $101.40 billion.

The top weekly Sensex gainers were Reliance Industries (up 12.31 per cent at Rs 1,096.75); Yes Bank (up 6.81 per cent at Rs 376.40); Wipro (up 6.73 per cent at Rs 280.70); Hindustan Unilever (up 3.70 per cent at Rs 1,741.15); and Bajaj Auto (up 3.66 per cent at Rs 3,134 per share).

The major losers were Hero MotoCorp (down 4.84 per cent at Rs 3,460.60); Tata Motors (DVR) (down 4.18 per cent at Rs 150.30); Vedanta (down 4.05 per cent at Rs 210.60); Tata Motors (down 2.58 per cent at Rs 264.15); and IndusInd Bank (down 1.81 per cent at Rs 1,923.45 per share).

IANS

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