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19 September 2016
I had mentioned in Friday’s closing report that
Nifty, Sensex might head higher. The major indices of the Indian stock markets
were range-bound and closed with small gains over Friday’s close. The S&P
BSE Sensex closed at 28,634.50, up 0.12%, while the NSE’s Nifty 50 closed at
8,808.40, up 0.33%. The trends of the major indices in the course of Monday’s
trading are given in the table below: The
Total Investment & Insurance Solutions
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| Major Indices (The Total Investment & Insurance Solutions) |
Positive
global sentiments, along with higher crude oil prices and value buying, buoyed
the Indian stock markets during the late-afternoon trade session on Monday.
However, upcoming global events such as monetary policy announcements from
major economies and profit booking at higher levels, capped gains. The key
indices traded on a flat-to-positive note as healthy buying was witnessed in
metal, banking and IT stocks. The BSE market breadth was tilted in favour of
the bulls -- with 1,494 advances and 1,244 declines. On the NSE, there were 786
advances, 673 declines and 85 unchanged.
Initially,
the benchmark indices opened on a firm note in sync with their Asian peers.
However, investors were seen cautious ahead of the US Fed's FOMC (Federal Open
Market Committee) meeting, which is scheduled for September 20-21. A hike in US
interest rates can potentially lead FPIs (Foreign Portfolio Investors) away
from emerging markets such as India. It is also expected to dent business
margins as access to capital from the US will become expensive. The Total Investment & Insurance
Solutions
India
approved an ambitious $1.04-billion project for constructing and upgrading 558
km of roads to link it with Bangladesh, Bhutan and Nepal and ease the movement
of passengers and cargo, as part of the larger effort to increase
intra-regional trade by 60%. The new project has been given an official nod by
India's Department of Economic Affairs with 50% funding from the Asian
Development Bank (ADB), officials told IANS, adding that the road project will
cover West Bengal and Manipur on the Indian side, as of now. "The mandate
is for completing the project within the next two years," a senior
official said. "The primary idea behind the Bangladesh-Bhutan-India-Nepal
(BBIN) road initiative is to improve ground connectivity in the region,"
said Leena Nandan, Joint Secretary, Ministry of Road Transport and Highways.
"We have taken up five highway stretches in the country, which are very
important for such a connectivity to succeed. This project is entirely
different and new -- and about to be rolled out," Nandan told IANS. The
project -- as per a list accessed by IANS -- includes, among others, an upgrade
of the 122-km Siliguri-Mirik-Darjeeling ($15 million) and the widening of the
60-km National Highway-35 (Kolkata-Bangaon) on the border with Bangladesh ($130
million). This is likely to improve the infrastructure sector for investors in
the stock markets too. The Total
Investment & Insurance Solutions
A 21-member
business delegation from China arrived in West Bengal on a two-day visit to explore
investment and business opportunities in West Bengal, said a minister on
Monday. The delegation representing sectors like energy, manufacturing, mining,
medical care, real estate and infrastructure consists of 21 entrepreneurs from
13 Chinese companies with an aggregate turnover of $10 billion, said Finance
Minister Amit Mitra. In 2015, Chinese Vice President Li Yuanchao had met Chief
Minister Mamata Banerjee and promised to send a business delegation, Mitra
said. “With a focus on investment, the delegation has come to explore business
opportunities in West Bengal," said Mitra, who also holds the Excise,
Commerce and Industries portfolio. "They will have discussions with West
Bengal Industrial Development Corp (WBIDC) and also visit a manufacturing zone
to have first-hand knowledge of investment opportunities in the state," he
said. "Another delegation with representatives from Fortune 500 companies
will also visit the state in October-November," he added. These
developments are good news for investors in well managed West Bengal-based
companies.
The top
gainers and top losers of the major indices are given in the table below: The Total Investment & Insurance
Solutions
 |
Top Gainer (The Total
Investment & Insurance Solutions)
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| Asian Indices (The Total Investment & Insurance Solutions) |
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