Contact Your Financial
Adviser MONEY MAKING MC
05 July 2016
I had mentioned in Monday’s closing report that Nifty,
Sensex were overbought, but the indices might move sideways. The major indices
of the Indian stock markets were range-bound on Tuesday and closed with small losses
of 0.40%-0.45% over Monday’s close. The trends of the major indices in the
course of Tuesday’s trading are given in the table below:
The Total Investment & Insurance
Solutions
 |
| Mjr Inda(The Total Investment & Insurance Solutions) |
Bearish global cues, combined with profit booking,
subdued the Indian equity markets on Tuesday. Consequently, the key indices
traded in the red during the late-afternoon session. Heavy selling pressure was
witnessed in automobile, banking and information technology (IT) stocks. The
BSE market breadth was tilted in favour of the bears -- with 1,277 advances and
1,476 declines.
The Total Investment & Insurance
Solutions
The impact of Brexit on India will be "very
limited" as New Delhi does not play a key role in global trade, a leading
Chinese daily said on Tuesday. At the same time, following its exit from the
European Union, the UK's role in promoting India-EU relations will no longer
exist, said an opinion piece in the Global Times. "Given the fact
that New Delhi is not playing a crucial role in global trade or the
international geopolitical system, the influence of Britain leaving the
European Union will prove to be very limited," it said. The newspaper
pointed out that in economy and trade, there would be impact "though not
significant ones".
The Total Investment & Insurance
Solutions
British business confidence has fallen sharply in the
aftermath of the vote to leave the European Union (EU), a new research
revealed. The share of businesses that reported feeling pessimistic about the
British economy doubled in the week after the Brexit vote on June 24, according
to the YouGov and the Centre for Economics and Business Research (CEBR). The
figure jumped from 25% the week before the referendum to 49%, BBC reported.
Falling confidence can lead companies to pull back on investment and hiring.
Scott Corfe, director at the CEBR, said that the figures indicated a
"significant shock reaction" among British businesses following the
vote last month.
The Total Investment & Insurance
Solutions
Larsen & Toubro Ltd (L&T) on Tuesday said it has
secured export orders worth $71.3 million from Mitsubishi Hitachi Power Systems
Ltd (MHPS) through its joint venture companies. The contract of L&T-MHPS
Boilers Private Ltd (LMB), a joint venture (JV) of the company, includes supply
of pressure parts for a 2x1,000 MW power plant in Indonesia and includes
furnace header, panel, coils and piping, the company said in a statement. The
company’s shares closed at Rs1,574.65, up 0.60% on the BSE on Tuesday.
The Total Investment & Insurance
Solutions
China is highly concerned with Indian trade remedy
measures against Chinese steel products, the Ministry of Commerce said on
Monday. The Indian government has launched an anti-dumping investigation into
colour-coated steel sheets imported from China. It is the fifth such probe
against China from India this year, the highest record among WTO members, according
to a statement on the ministry's website. The global steel industry was
experiencing difficulties due to sluggish economic growth and weak demand, but
abuse of trade remedy measures would not help resolve industrial overcapacity
but hamper normal trade, the statement said. China and India have broad room
for cooperation in the industry, the ministry said, adding it hoped the two
countries can seek common development through trade, investment and
technological cooperation and properly handle trade frictions. The ministry
said it hoped the Indian government could conduct a fair and transparent
investigation in line with WTO rules and refrain from trade remedy measures.
SAIL shares closed at Rs47.50, up 1.50% on the BSE on Tuesday.
The top gainers and top losers of the major indices are
given in the table below:
The Total Investment & Insurance
Solutions
 |
| Tp Grns(The Total Investment & Insurance Solutions) |
The closing values of the major Asian indices are given
in the table below:
The Total Investment &
Insurance Solutions
 |
| Asian Inds(The Total Investment & Insurance Solutions) |
No comments:
Post a Comment