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21 September 2016
I had mentioned in Tuesday’s closing report that Nifty,
Sensex might rally a bit. The major indices of the Indian stock markets were
range-bound on Wednesday and ended flat compared to Tuesday’s close. NSE
trading volumes were on the lower side. The trends of the major indices in the
course of Wednesday’s trading are given in the table below: The Total Investment & Insurance
Solutions
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| Major Indices (The Total Investment & Insurance Solutions) |
Indian equity markets succumbed to profit
booking to close the day's trade on a flat note on Wednesday. Selling pressure
was witnessed in FMCG and banking stocks. The markets were largely positive as
hopes of a rate-hike turned down in the US Fed meet enhanced the risk-taking
appetite, according to market analysts. However, investors were not willing to
push prices higher as caution still prevails ahead of the FOMC's final
decision. The Bank of Japan (BoJ) decision (to keep its policy balance rates
unchanged) did not have much impact on the domestic markets. Initially on
Wednesday, the benchmark indices opened on a flat-to-positive note on the back
of positive Asian markets. The CNX Nifty traded with firm sentiments on buying
support from traders. Most IT stocks traded firm on recovery in USD/INR
futures. Auto and oil-gas stocks also traded with firm sentiments. On the NSE,
there were 731 advances, 725 declines and 67 unchanged. The BSE market breadth
was tilted in favour of the bulls -- with 1,413 advances and 1,314 declines. The Total Investment & Insurance
Solutions
The Bank of Japan (BOJ) unveiled its new
policy framework on Wednesday, saying it will keep its negative policy rate at
minus 0.1% while modifying the framework of its bond-buying programme to guide
long-term rate at around 0%. The BOJ said it will continue to expand the
monetary base until consumer prices exceed two percent in a stable way. The
Japanese central bank concluded a two-day Policy Board meeting on Wednesday
dedicated to having a "comprehensive assessment" of its monetary
easing steps in an effort to achieve a 2% inflation goal.
Adani Green Energy (Tamil Nadu) Ltd on
Wednesday dedicated its 648MW solar power project in the state to the nation,
the company said. In a statement issued here, Adani Green Energy said it has
dedicated the world's largest solar power plant at a single location of 648MW
set up in Kamuthi, Ramanathupuram district. Adani Power closed at Rs27.70, down
0.72% on the BSE.
Coal India Ltd (CIL), which produces 84% of
country's coal output, "needs to step up to a double digit growth rate
from that of around 9% achieved during 2015-16" to meet its production
targets, company Chairman Sutirtha Bhattacharya said on Wednesday. "Going
forward, in order to meet the production targets, Coal India needs to step up
to a double digit growth rate from that of around 9% achieved during FY
2016...during the first four months of FY 2017, Coal India's production growth
was more than 6 million tonnes (mt) over the same period last year," he
said while addressing shareholders at the company's 42nd Annual General
Meeting. Coal India closed at Rs330.10, up 0.21% on the BSE.
E-commerce platform Flipkart on Wednesday announced
the registration of 100 million customer users -- making it the first online
marketplace in India to reach this milestone. This landmark was crossed just
six months after hitting the 75 million registered users mark in March 2016.
Flipkart's registered customer base stands at around 63% of entire wireless and
wireline broadband connections in India, the company said in a statement. The Total Investment & Insurance
Solutions
With an aim to boost digital transformation,
HCL Technologies will increase investment on SMAC (Social, Mobility, Analytics,
Cloud) -- especially Cloud -- in next couple of years, a top company executive
has said. "Currently, 60% of our IT budget is focused on SMAC. It will go
up to 80-90 per cent of total IT spend by 2019-20," Manoj Kumbhat, CIO of
HCL Technologies, told IANS on Tuesday on the sidelines of the ongoing Oracle
OpenWorld (OOW) 2016 conference. "As we aim to become a $10 billion
company by 2020, total IT investment on SMAC will go up significantly and Cloud
gives tremendous flexibility for scaling up," Kumbhat said. Moving towards
digital transformation, he said the company will shut down four of its six data
centres in India in next three-four years. "We are not investing in data
centres anymore. Currently, we have six data centres in the country. By 2019-20,
we will keep only two data centres as we move towards Cloud services,"
Kumbhat noted. HCL Technologies closed at Rs787.00, down 0.66% on the BSE.
The top gainers and top losers of the major
indices are given in the table below:
 |
| 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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