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20Th July 2016
I had mentioned in Tuesday’s closing report
that Nifty, Sensex lack momentum. The major indices of the Indian stock markets
rallied on Wednesday and closed with gains of around 0.45% over Tuesday’s
close. The trends of the major indices in the course of Wednesday’s trading are
given in the table below:
 |
Major Indices (The Total Investment & Insurance
Solutions)
|
Positive European indices and US premarket
futures buoyed the Indian equity markets on Wednesday, as healthy buying was
witnessed in healthcare, oil and gas, and capital goods stocks. On the NSE,
there were 965 advances, 448 declines and 61 unchanged at the close of
Wednesday’s trading. The Total
Investment & Insurance Solutions
The European Union (EU) downgraded its
economic outlook for Britain and the rest of the bloc on Tuesday, saying the
Brexit vote ushered in uncertainty and would weigh on growth. The gross
domestic product (GDP) growth in the 19-country eurozone is expected to slow to
between 1.3% and 1.5% in 2016 from the previously estimated 1.7% in May. The
same growth figures are expected for next year. This implies a loss of GDP of
0.25% to 0.5% by 2017, which is less than in Britain (1.0% to 2.75%), said a
report published by the European Commission, the bloc's executive arm.
"The UK's 'leave' vote is expected to slow private consumption and
investment and impact on foreign trade," it noted. The report warned that
Britain's referendum had created an "extraordinarily uncertain
situation," which is likely to prevail for some time, and would affect not
only Britain but also the rest of the EU economy through several transmission
channels, mainly uncertainty, investment, trade, and migration. These issues
are likely to have a bearing on the investments by foreign institutional
investors in emerging markets like India.
The Total Investment & Insurance Solutions
The government has not allowed any
pharmaceutical company to increase prices of drugs beyond permissible limits,
parliament was told on Tuesday. "Few companies have given representations
for increasing prices of medicines beyond permissible limits mentioning various
reasons like increase in cost, tax, foreign exchange rates etc. However, no
company has been given permission to increase the prices so far," Minister
of Chemicals and Fertilisers Ananth Kumar told the Lok Sabha. He said the
government has brought down prices of 404 medicines under the National List of
Essential Medicines, 2015 (revised schedule-I) of the Drug Price Control Order
(DPOC) 2013. The government has earlier "reduced the ceiling prices of 530
medicines as on 2/3/2016 under NLEM 2011 of DPCO 2013 (original schedule-I) on
the basis of the negative wholesale price index," he said. Schedule I of
DPCO 2013 contains the national list of essential medicines. The S & P BSE
Healthcare index closed at 16450.18, up 2.38% on Wednesday on the BSE. The Total Investment & Insurance Solutions
The top gainers and top losers of the major
indices are given in the table below:
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Top Gainer (The Total Investment & Insurance Solutions)
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The closing values of the major Asian indices
are given in the table below: The
Total Investment & Insurance Solutions
 |
Asian Indices (The Total Investment & Insurance
Solutions)
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