Market registers strong gains on positive global cues
Indian equities registered strong gains in the week ended Friday, 2 September 2016. The barometer index, the S&P BSE Sensex reclaimed the psychologically important 28,000 level after settling below that level in the preceding week. The Sensex registered gains in four trading sessions and closed with small losses in the remaining trading session. Lion's portion of the gains during the week materialized in Tuesday's (30 August 2016) trading session helped by positive global cues.
The Sensex jumped 749.86 points or 2.69% to settle at 28,532.11. The Nifty 50 index rose 237.10 points or 2.76% to settle at 8,809.65. The BSE Mid-Cap index rose 1.77%. The BSE Small-Cap index advanced 1.25%. Both these indices underperformed the Sensex.
Auto, metal stocks and index heavyweight Reliance Industries led modest gains for key benchmark indices in a volatile trading session on Monday, 29 August 2016. The Sensex rose 120.41 points or 0.43% to settle at 27,902.66, its highest closing level since 24 August 2016.
Auto, IT and banking stocks and index heavyweights HDFC and ITC led strong gains for key benchmark indices on Tuesday, 30 August 2016. The Sensex jumped 440.35 points or 1.58% to settle at 28,343.01, its highest closing level since 23 July 2015.
Key benchmark indices edged higher on last trading day of the month on Wednesday, 31 August 2016, as sentiment was boosted after the Union Cabinet on 31 August 2016 gave ex-post-facto approval for the foreign direct investment (FDI) policy amendments announced by the Government in June this year. The Sensex rose 109.16 points or 0.39% to settle at 28,452.17, its highest closing level since 22 July 2015.
Key benchmark indices registered small losses in a lackluster trading session on Thursday, 1 September 2016. The Sensex lost 28.69 points or 0.1% to settle at 28,423.48, its lowest closing level since 30 August 2016.
Auto stocks led modest gains for key benchmark indices on the last trading session of the week on Friday, 2 September 2016. The Sensex rose 108.63 points or 0.38% to settle at 28,532.11, its highest closing level since 16 April 2015.
Among the 30-share Sensex pack, 27 stocks gained and remaining three stocks declined in the week ended Friday, 2 September 2016.
Adani Ports and Special Economic Zone (up 4.12%), Asian Paints (up 3.37%), GAIL (India) (up 4%), HDFC (up 5.2%), Hindustan Unilever (up 1.91%), ITC (up 3.43%), NTPC (up 1.11%), ONGC (up 0.17%), Power Grid Corporation of India (up 1.22%) and Tata Steel (up 1.04%) edged higher from the Sensex pack. Bharti Airtel (down 7.31%) edged lower from the Sensex pack.
Bank stocks edged higher with the S&P BSE Bankex index gaining 3.62%. Axis Bank (up 2.1%), HDFC Bank (up 2.11%), ICICI Bank (up 6.56%) and State Bank of India (up 3.1%) rose.
Auto stocks surged with the S&P BSE Auto index gaining 5.05%.
Maruti Suzuki India (Maruti) rose 4.83%. The company during market hours on Tuesday, 30 August 2016, announced the launch of sporty Swift Deca, a limited edition model of its most popular hatchback. Maruti Swift Deca is available in two variants viz. Swift Deca Edition VXi at Rs 5.94 lakh and Swift Deca Edition VDi at Rs 6.86 lakh.
Maruti during market hours on Thursday, 1 September 2016, reported a 12.2% growth in total sales to 1.32 lakh units in August 2016 over August 2015.
Mahindra & Mahindra (M&M) was up 3.15%. The company during market hours on Thursday, 1 September 2016, reported 16% growth in its total tractor sales at 13,543 units in August 2016 over August 2015. Separately, M&M said its total auto sales rose 14% to 40,591 units in August 2016 over August 2015.
Hero MotoCorp surged 7.89%. The company after market hours on Thursday, 1 September 2016, reported a 28% growth in total sales at 6.16 lakh units in August 2016 over August 2015. At the time of announcement of the monthly sales volume data, Hero MotoCorp said the company will launch 15 new products across segments in domestic and global markets in the year ending 31 March 2017 (FY 2017) out of which three motorcycles will be introduced in the domestic market before the festive season.
Bajaj Auto jumped 5%. The company during market hours on Friday, 2 September 2016, reported 5% decline in total sales to 3.25 lakh units in August 2016 over August 2015.
Tata Motors surged 9.16%. The company after market hours on Thursday, 1 September 2016 announced that its total passenger and commercial vehicle sales rose 6% to 43,061 vehicles in August 2016 over August 2015.
Pharma stocks edged higher with the S&P BSE Healthcare index gaining 1.1%. Cipla (up 1.82%), Dr Reddy's Laboratories (up 2.72%) and Sun Pharmaceutical Industries (up 3.45%) rose.
Lupin was up 0.25%. The company at the fag end of market hours on Thursday, 1 September 2016, announced that its US subsidiary Gavis Pharmaceuticals LLC, USA has received tentative approval from the United States Food and Drug Administration (USFDA) to market a generic version of Pfizer Inc.'s Zithromax for oral suspension, 100mg/5ml and 200mg/5ml. The drug is a macrolide antibacterial drug indicated for mild to moderate infections caused by designated, susceptible bacteria.
IT stocks edged lower. The S&P BSE IT index rose 0.11%. Infosys (up 1.01%) rose.
Wipro was down 1.35%. The company after market hours on Monday, 29 August 2016, announced a partnership with Stibo Systems, a global leader in multi-domain Master Data Management (MDM) solutions. As part of the partnership, the two companies will collaborate to offer MDM solutions.
TCS fell 0.62%. The company announced after market hours on Tuesday, 30 August 2016 that it has developed an innovative digital solution to connect Intelligent LEDs to GE's Predix operating system for the industrial Internet through Intel Atom-based gateways. This provides critical analytics to save significant time and costs in the manufacturing process.
Reliance Industries (RIL) fell 1.44%. The company's Chairman Mukesh Ambani at the company's Annual General Meeting held on Thursday, 1 September 2016, announced the launch of digital services by Reliance Jio Infocomm (RJIL), a subsidiary of RIL. RJIL will launch of its digital services with Jio Welcome Offer which will be effective from 5 September 2016.
Coal India was down 0.28%. The company after market hours on Monday, 29 August 2016, announced that it has fixed 9 September 2016 as the record date for the purpose of buyback of equity shares. The company's board on 11 July 2016 approved buyback of shares at a price of Rs 335 per share for an aggregate consideration not exceeding Rs 3650 crore through the tender offer route. The company's promoter viz. Government of India intends to participate in the buyback offer.
Coal India after market hours on Thursday, 1 September 2016, reported lower than targeted coal production and offtake in August 2016. Coal India and its subsidiaries on a provisional basis achieved 79% of targeted coal production at 32.43 million tonnes in August 2016. Coal offtake stood at 36.72 million tonnes in August 2016 which was 83% of targeted offtake for the month.
L&T surged 5.22%. The company announced during market hours on Friday, 2 September 2016 that its construction division has won orders valued at Rs 1458 crore.
L&T announced after market hours on Thursday, 1 September 2016 that the proposed initial public offer (IPO) of its subsidiary, L&T Technology Services Limited will be open for subscription to public on 12 September 2016 and shall close on 15 September 2016. The price band for the IPO has been fixed at Rs 850 to Rs 860 per share. L&T proposes to sell 15% stake in L&T Technology Services.
On the macro front, the outcome of a monthly survey released on Thursday, 1 September 2016, showed that India's manufacturing sector showed a solid improvement last month. The seasonally adjusted Nikkei India Manufacturing Purchasing Managers' Index (PMI) climbed to a 13-month high of 52.6 in August, from July's reading of 51.8.
Data released by the government after market hours on Wednesday, 31 August 2016 showed that India's gross domestic product (GDP) growth rate slowed to 7.1% in Q1 June 2016 from 7.9% expansion in Q4 March 2016. The growth was also slower than 7.5% expansion in Q1 June 2015.
Another data released by the government after market hours on Wednesday, 31 August 2016, showed that the index of eight core infrastructure sector rose 3.2% in July 2016 over July 2015.
The Union Cabinet chaired by the Prime Minister Narendra Modi gave its ex-post-facto approval on Wednesday, 31 August 2016 for the foreign direct investment (FDI) policy amendments announced by the Government on 20 June 2016. The Cabinet approved liberalization of FDI rules in aviation, pharmaceutical, defence, trading in food products and single brand retail trading.
Among global events, the US Federal Reserve Chairwoman Janet Yellen on Friday, 26 August 2016 signaled the possibility of an interest-rate increase later this year. Yellen, in her highly-anticipated speech at an economic symposium at Jackson Hole, Wyoming, said that the solid performance in the US labor market and outlook for economic activity and inflation had strengthened the case in recent months for an increase in the federal funds rate.
The influential US nonfarm-payroll data for August 2016 is due to release later in the global day on Friday, 2 September 2016.
China's official manufacturing purchasing managers' index (PMI), a gauge of factory activity released on Thursday, 1 September 2016, showed that the index has risen to 50.4 in August, from July's reading of 49.9, returning to expansionary territory.
The Sensex jumped 749.86 points or 2.69% to settle at 28,532.11. The Nifty 50 index rose 237.10 points or 2.76% to settle at 8,809.65. The BSE Mid-Cap index rose 1.77%. The BSE Small-Cap index advanced 1.25%. Both these indices underperformed the Sensex.
Auto, metal stocks and index heavyweight Reliance Industries led modest gains for key benchmark indices in a volatile trading session on Monday, 29 August 2016. The Sensex rose 120.41 points or 0.43% to settle at 27,902.66, its highest closing level since 24 August 2016.
Auto, IT and banking stocks and index heavyweights HDFC and ITC led strong gains for key benchmark indices on Tuesday, 30 August 2016. The Sensex jumped 440.35 points or 1.58% to settle at 28,343.01, its highest closing level since 23 July 2015.
Key benchmark indices edged higher on last trading day of the month on Wednesday, 31 August 2016, as sentiment was boosted after the Union Cabinet on 31 August 2016 gave ex-post-facto approval for the foreign direct investment (FDI) policy amendments announced by the Government in June this year. The Sensex rose 109.16 points or 0.39% to settle at 28,452.17, its highest closing level since 22 July 2015.
Key benchmark indices registered small losses in a lackluster trading session on Thursday, 1 September 2016. The Sensex lost 28.69 points or 0.1% to settle at 28,423.48, its lowest closing level since 30 August 2016.
Auto stocks led modest gains for key benchmark indices on the last trading session of the week on Friday, 2 September 2016. The Sensex rose 108.63 points or 0.38% to settle at 28,532.11, its highest closing level since 16 April 2015.
Among the 30-share Sensex pack, 27 stocks gained and remaining three stocks declined in the week ended Friday, 2 September 2016.
Adani Ports and Special Economic Zone (up 4.12%), Asian Paints (up 3.37%), GAIL (India) (up 4%), HDFC (up 5.2%), Hindustan Unilever (up 1.91%), ITC (up 3.43%), NTPC (up 1.11%), ONGC (up 0.17%), Power Grid Corporation of India (up 1.22%) and Tata Steel (up 1.04%) edged higher from the Sensex pack. Bharti Airtel (down 7.31%) edged lower from the Sensex pack.
Bank stocks edged higher with the S&P BSE Bankex index gaining 3.62%. Axis Bank (up 2.1%), HDFC Bank (up 2.11%), ICICI Bank (up 6.56%) and State Bank of India (up 3.1%) rose.
Auto stocks surged with the S&P BSE Auto index gaining 5.05%.
Maruti Suzuki India (Maruti) rose 4.83%. The company during market hours on Tuesday, 30 August 2016, announced the launch of sporty Swift Deca, a limited edition model of its most popular hatchback. Maruti Swift Deca is available in two variants viz. Swift Deca Edition VXi at Rs 5.94 lakh and Swift Deca Edition VDi at Rs 6.86 lakh.
Maruti during market hours on Thursday, 1 September 2016, reported a 12.2% growth in total sales to 1.32 lakh units in August 2016 over August 2015.
Mahindra & Mahindra (M&M) was up 3.15%. The company during market hours on Thursday, 1 September 2016, reported 16% growth in its total tractor sales at 13,543 units in August 2016 over August 2015. Separately, M&M said its total auto sales rose 14% to 40,591 units in August 2016 over August 2015.
Hero MotoCorp surged 7.89%. The company after market hours on Thursday, 1 September 2016, reported a 28% growth in total sales at 6.16 lakh units in August 2016 over August 2015. At the time of announcement of the monthly sales volume data, Hero MotoCorp said the company will launch 15 new products across segments in domestic and global markets in the year ending 31 March 2017 (FY 2017) out of which three motorcycles will be introduced in the domestic market before the festive season.
Bajaj Auto jumped 5%. The company during market hours on Friday, 2 September 2016, reported 5% decline in total sales to 3.25 lakh units in August 2016 over August 2015.
Tata Motors surged 9.16%. The company after market hours on Thursday, 1 September 2016 announced that its total passenger and commercial vehicle sales rose 6% to 43,061 vehicles in August 2016 over August 2015.
Pharma stocks edged higher with the S&P BSE Healthcare index gaining 1.1%. Cipla (up 1.82%), Dr Reddy's Laboratories (up 2.72%) and Sun Pharmaceutical Industries (up 3.45%) rose.
Lupin was up 0.25%. The company at the fag end of market hours on Thursday, 1 September 2016, announced that its US subsidiary Gavis Pharmaceuticals LLC, USA has received tentative approval from the United States Food and Drug Administration (USFDA) to market a generic version of Pfizer Inc.'s Zithromax for oral suspension, 100mg/5ml and 200mg/5ml. The drug is a macrolide antibacterial drug indicated for mild to moderate infections caused by designated, susceptible bacteria.
IT stocks edged lower. The S&P BSE IT index rose 0.11%. Infosys (up 1.01%) rose.
Wipro was down 1.35%. The company after market hours on Monday, 29 August 2016, announced a partnership with Stibo Systems, a global leader in multi-domain Master Data Management (MDM) solutions. As part of the partnership, the two companies will collaborate to offer MDM solutions.
TCS fell 0.62%. The company announced after market hours on Tuesday, 30 August 2016 that it has developed an innovative digital solution to connect Intelligent LEDs to GE's Predix operating system for the industrial Internet through Intel Atom-based gateways. This provides critical analytics to save significant time and costs in the manufacturing process.
Reliance Industries (RIL) fell 1.44%. The company's Chairman Mukesh Ambani at the company's Annual General Meeting held on Thursday, 1 September 2016, announced the launch of digital services by Reliance Jio Infocomm (RJIL), a subsidiary of RIL. RJIL will launch of its digital services with Jio Welcome Offer which will be effective from 5 September 2016.
Coal India was down 0.28%. The company after market hours on Monday, 29 August 2016, announced that it has fixed 9 September 2016 as the record date for the purpose of buyback of equity shares. The company's board on 11 July 2016 approved buyback of shares at a price of Rs 335 per share for an aggregate consideration not exceeding Rs 3650 crore through the tender offer route. The company's promoter viz. Government of India intends to participate in the buyback offer.
Coal India after market hours on Thursday, 1 September 2016, reported lower than targeted coal production and offtake in August 2016. Coal India and its subsidiaries on a provisional basis achieved 79% of targeted coal production at 32.43 million tonnes in August 2016. Coal offtake stood at 36.72 million tonnes in August 2016 which was 83% of targeted offtake for the month.
L&T surged 5.22%. The company announced during market hours on Friday, 2 September 2016 that its construction division has won orders valued at Rs 1458 crore.
L&T announced after market hours on Thursday, 1 September 2016 that the proposed initial public offer (IPO) of its subsidiary, L&T Technology Services Limited will be open for subscription to public on 12 September 2016 and shall close on 15 September 2016. The price band for the IPO has been fixed at Rs 850 to Rs 860 per share. L&T proposes to sell 15% stake in L&T Technology Services.
On the macro front, the outcome of a monthly survey released on Thursday, 1 September 2016, showed that India's manufacturing sector showed a solid improvement last month. The seasonally adjusted Nikkei India Manufacturing Purchasing Managers' Index (PMI) climbed to a 13-month high of 52.6 in August, from July's reading of 51.8.
Data released by the government after market hours on Wednesday, 31 August 2016 showed that India's gross domestic product (GDP) growth rate slowed to 7.1% in Q1 June 2016 from 7.9% expansion in Q4 March 2016. The growth was also slower than 7.5% expansion in Q1 June 2015.
Another data released by the government after market hours on Wednesday, 31 August 2016, showed that the index of eight core infrastructure sector rose 3.2% in July 2016 over July 2015.
The Union Cabinet chaired by the Prime Minister Narendra Modi gave its ex-post-facto approval on Wednesday, 31 August 2016 for the foreign direct investment (FDI) policy amendments announced by the Government on 20 June 2016. The Cabinet approved liberalization of FDI rules in aviation, pharmaceutical, defence, trading in food products and single brand retail trading.
Among global events, the US Federal Reserve Chairwoman Janet Yellen on Friday, 26 August 2016 signaled the possibility of an interest-rate increase later this year. Yellen, in her highly-anticipated speech at an economic symposium at Jackson Hole, Wyoming, said that the solid performance in the US labor market and outlook for economic activity and inflation had strengthened the case in recent months for an increase in the federal funds rate.
The influential US nonfarm-payroll data for August 2016 is due to release later in the global day on Friday, 2 September 2016.
China's official manufacturing purchasing managers' index (PMI), a gauge of factory activity released on Thursday, 1 September 2016, showed that the index has risen to 50.4 in August, from July's reading of 49.9, returning to expansionary territory.
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