Contact Your Financial Adviser Money Making MC
6Th September 2016
I had mentioned
in Friday’s closing report that Nifty, Sensex have bucked the weakness, and
have headed higher. The major indices of the Indian stock markets rallied
strongly on Tuesday after the long week-end to close with gains of around 1.50%
over Friday’s close. The trends of the indices in the course of Tuesday’s
trading are given in the table below: The Total Investment & Insurance
Solutions
 |
Major Indices (The Total
Investment & Insurance Solutions)
Positive global cues and healthy inflow
of foreign funds pushed the Indian equity markets to a striking distance of
all-time highs by the end of the session on Tuesday as healthy buying was
witnessed in all the 19 sub-indices of the BSE, led by stocks of banking,
automobile and consumer durables. The BSE market breadth was tilted in favour
of the bulls -- with 1,624 advances and 1,126 declines. On the NSE, on Tuesday,
there were 938 advances, 524 declines and 60 unchanged. The Indian stock
markets were closed on Monday on account of Ganesh Chaturthi. The Total Investment
& Insurance Solutions
Reliance Capital, a part of the
Anil-Ambani-led group, on Tuesday said it has raised $300 million through
private placement of debentures with tenures of 5 and 10 years. "The issue
size offered was $ 150 million with an option to retain oversubscription by way
of a greenshoe option of up to $150 million). The issue was fully subscribed,
including the greenshoe option, and will be listed," the company said in a
regulatory filing. The company’s shares closed at Rs558.00, up 2.46% on the BSE. The Total Investment
& Insurance Solutions
Indian drug major Sun Pharmaceutical
Industries Ltd on Tuesday said it has signed a strategic distribution agreement
with Mitsubishi Tanabe Pharma Corporation. In a statement, Sun Pharma said
Japanese company Mitsubishi Tanabe will distribute the 14 prescription brands
acquired from Novartis Pharma earlier this year. Mitsubishi Tanabe will also
provide information on their proper use to healthcare professionals.
"Through this alliance we have the opportunity to leverage Mitsubishi
Tanabe Pharma Corporation's specialized expertise to create a strong business
foundation for us in Japan," Isao Muramatsu, President &
Representative Director, Sun Pharma Japan Ltd, was quoted as saying in the
statement. "Sun Pharma will focus on expanding its sales channels in Japan's
pharmaceutical market while continuing to ensure a stable supply of medicines
and healthcare information," Muramatsu said. The company’s shares closed
at Rs782.10, with no change from the previous close, on the BSE.
Urjit Patel has taken charge as Governor
of the Reserve Bank of India (RBI), an official statement said here on Monday.
"Urjit R. Patel assumed charge as the twenty-fourth Governor of the
Reserve Bank of India, effective September 4, 2016 after serving as Deputy
Governor since January 2013," the RBI statement said. Patel, who has been
given a three-year term, succeeds Raghuram Rajan, whose three-year term ended
on Sunday. The elevation of Urjit Patel as governor has raised expectation
among those who were critical of Rajan for not easing enough the monetary
policy by cutting interest rates. "We are in the midst of the age of
competitive depreciation and of a beggar-my-neighbour philosophy. It brings to
mind an old African saying that when elephants fight, the grass suffers,"
Patel said at the press conference to announce the policy review, on the trend
of accommodative monetary policies being adopted by developed economies.
"While the ECB (European Central Bank) and the Bank of Japan are printing
money and devaluing their currencies on one hand, the US economy is reviving on
the other. Anyone in the middle is getting crushed," he added. 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) |
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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