Trump, Modi To Drive Market Performance In 2017: BloombergQuint Poll
Brokers in India will keenly watch two policymakers - U.S. President-elect Donald Trump and Indian Prime Minister Narendra Modi – besides the usual suspects like crude oil prices, the level of the rupee, and foreign fund flows.
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TOP NEWS
— BloombergQuint (@BloombergQuint) January 2, 2017
Manufacturing slowdown https://t.co/HDD9uGqA4W
Supreme Court removes BCCI office-bearers https://t.co/RpxiTd9LSX pic.twitter.com/OmDMMgH2Zc
#BQMarketsNow Here's your lunchtime market update.
— BloombergQuint (@BloombergQuint) January 2, 2017
Find out how the markets end on #BQMarketWrap FB LIVE at 3:45pm: https://t.co/t621fbrnKK pic.twitter.com/St0qEqAUaS
SML Isuzu Surges Post December Sales
Shares of the company gained as much as 5.19 percent to Rs 1,134 after the company posted a 16 percent rise in the month of December. The company sold 1,021 units in December as compared to 877 units in December 2015.
Ashok Leyland December Sales Decline
India’s second largest commercial vehicle maker sold 10,731 units, a 12 percent fall compared to 12,154 units in the same month last year, the company said in a filing to the stock exchanges.
Sales of medium and heavy commercial vehicles fell 9 percent to 8,728 units compared to 9,703 units in December 2015. Sales in the LCV segment declined 20 percent to 1,949 vehicles as against 2,451 vehicles in the year ago period.
LCV Sales Save The Day For Mahindra And Mahindra
Shares of Mahindra and Mahindra Ltd. surged despite the company posting a 4 percent drop in its sales for the month of December.
The company saw a 21.8 percent decline for the month of November post the Narendra Modi government’s demonetisation drive.
Domestic sales declined 1.5 percent in December to 34,310 vehicles as against 34,839 vehicles in the year ago period.
Shares gained as much as 2.09 percent to Rs 1,209.50 on the National Stock Exchange.
Supreme Court removes Anurag Thakur as BCCI President, Ajay Shirke as Secretary.https://t.co/beQUgznik9 pic.twitter.com/iqyRD4uMnP
— BloombergQuint (@BloombergQuint) January 2, 2017
#BQSpotted by @shraddha_babla | Hindustan Wires hits 3 consecutive upper circuits.https://t.co/orINPW3R8X pic.twitter.com/jvzMuRFfTC
— BloombergQuint (@BloombergQuint) January 2, 2017
As the survey showed only a mild decline in manufacturing production in the last month of the year, the average reading for the Oct-Dec quarter remained in growth terrain, thereby suggesting a positive contribution from the sector to overall GDP in Q3 FY16/17. With the window for exchanging notes having closed at the end of December, January data will be key in showing whether the sector will see a quick rebound.”Pollyanna De Lima, economist at IHS Markit and author of the report.
#BQSpotted by @soumeet_sarkar | Arcotech posts double digit gains for the second start session.https://t.co/ydGziBHDmD pic.twitter.com/ZEVfZp8g1X
— BloombergQuint (@BloombergQuint) January 2, 2017
Bajaj Auto Sales Disappoint
Shares of the Pune-based auto maker fell as much as 1.13 percent to Rs 2,604 after the company’s December sales fell for the second month in a row. While overall sales declined 22 percent, exports for the company fell 27 percent.
Sale of commercial vehicles was the biggest laggard as sales in the domestic and export markets nearly halved, falling 44 and 49 percent respectively.
Total Volumes for Bajaj Auto's third quarter fell 10.4% to 8,51,645 units from 9,51,498 units year-on-year.
Also Read: Bajaj Auto’s Sales Plunge 22% In December
Stocks To Watch- Maruti Suzuki: December sales fall 1% to 1.17 lakh cars
- Eicher Motors: December sales jump 42% to 57,398 units
Also Read: Maruti Suzuki, Eicher Motors Ignore Demonetisation Blues In Third Quarter
- HPCL/BPCL/IOC: Petrol prices hiked by Rs 1.29/Litre, Diesel by Rs 0.97/Litre
- Mahanagar Gas: Launches CNG-fuelled two-wheeler
- IL&FS Engineering: Wins Rs 242 crore contract in Karnataka
- Infosys: General Counsel & Chief Compliance Officer David Kennedy quits
- SBI: Reduces Marginal Cost of funds based Lending Rate By 90 basis points To 8 percent
- PNB: Reduces MCLR by 70 basis points to 8.20 percent
- Union Bank: Reduces MCLR by 65 basis points to 8.65 percent
Also Read: State Bank Of India Slashes Lending Rate By 90 Basis Points, Steepest Cut In Years
For the complete list of stocks to watch, click HERE!
Talking Points- India, Singapore sign third protocol for amending DTAA
Also Read: What Mauritius Tax Treaty Means for Investors & the Singapore Pact
- India April-November fiscal deficit at 85.8% of FY17 target
Also Read: Fiscal Deficit Hits 86% Of Budget Estimate In April-November
- India’s external debt at $484.3 billion at end of September
- India increases daily ATM cash withdrawal limits
Also Read: RBI Hikes Daily Withdrawal Limit From ATMs To Rs 4,500 Effective January 1
- India to levy 10,000 rupees as fine for holding old bank notes
- India 2016-17 sugar output expected to be 22.5 million tonnes: Government
- Forex reserves fall $935.2 million to $359.7 billion in the week ending December 23: RBI
- Apple said to seek lower taxes to start manufacturing in India
Also Read: Apple Said To Seek Lower Taxes To Start Manufacturing In India
U.S. equity markets posted their longest losing streak since Trump’s victory, but managed to close the year out with the fourth annual gain since 2011.
The S&P 500 Index fell to its lowest level since December 7 after a 0.5 percent fall on Friday. The index rose 11.24 percent in 2016.
The Dow Jones Industrial Average rallied almost 15 percent in 2016, briefly flirting with the 20,000 mark before ending the year nearly 250 points adrift of the milestone.
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