Nifty, Sensex Headed Higher - Monday closing report-The Total Investment & Insurance Solutions

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20 February 2017

I had mentioned in our Friday’s closing report that Nifty, Sensex are still range-bound. The major indices of the Indian stock markets ended on a positive note, finally showing some movement. The trends of the major indices in the course of Monday’s trading are given in the table below:  The Total Investment & Insurance Solutions

 

Major Indices (The Total Investment & Insurance Solutions)

Indian equity markets started off the week on a positive note on Monday, with Nifty closing above the five-month high pushed largely by TCS, Infosys and HDFC Bank. After the consolidation in the morning, the markets gained strength in the afternoon trade.

TCS announced a buyback of up to 5.6 crore equity shares, about 2.85% of total paid up capital, at Rs2,850 per share, totalling to Rs16,000 crore. The share rallied 4% after the announcement.  N Chandrasekaran takes over as the Chairman of Tata Sons, with the hope of putting behind the hyped boardroom battle that saw the ouster of Cyrus Mistry as Tata Sons Chairman. The 54-year old will be the first non-parsi chairman of the 150 year old Tata Group. Maruti Suzuki announced that its smart hybrid vehicles, Ciaz SHVS and Ertiga SHVS, have crossed cumulative sales of 1 lakh units in February 2017.  The Total Investment & Insurance Solutions

Telecom Stocks rallied after a news report said that Tata Teleservices is in early talks to join Reliance Communications-Aircel-MTS combine. Tata Teleservices rose by 6.62% to Rs6.44 and Relaince Communications rose by 4.37% to Rs34.60. Idea Cellular rose by 3% on reports that the merger with Vodafone India may be concluded in a month. After receiving two orders worth Rs348 crore, in its vertical pipelines and tankages, shares of Punj Llyod raised over 12% on Monday.  The Total Investment & Insurance Solutions

The BSE market breadth was tilted in favour of the bulls -- with 1,709 advances and 1,132 declines. On the NSE, there were 1,050 advances, 583 declines and 96 unchanged. 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)