Contact Your Financial Adviser Money Making MC
15
February 2017
I had
mentioned in Tuesday’s closing report that Nifty and Sensex still lack
direction. The major indices of the Indian stock markets suffered a correction
on Wednesday and closed 0.65%-0.77% lower than Tuesday’s close. The trends of
the major indices in the course of Wednesday’s trading are given in the table
below: The Total Investment
& Insurance Solutions
 |
| Major Indices (The Total Investment & Insurance Solutions) |
The
increased chances of an upcoming US rate hike, along with disappointing
quarterly results, dragged the Indian equities markets lower on Wednesday. The
key domestic indices closed more than half a per cent down, as selling pressure
was witnessed in automobile, healthcare and consumer durables' stocks. The BSE
market breadth was skewed in favour of the bears -- with 2,143 declines and 698
advances. On the NSE, there were 298 advances, 1,361 declines and 73 unchanged. The Total Investment & Insurance Solutions
State-run
Hindustan Aeronautics Ltd (HAL) is set to go public soon to sell 10% of equity
shares of Rs10 face value, a top official said on Sunday. "We will soon
make Initial Public Offering (IPO) to sell 36.1 million shares, which are
equivalent to 10% of the holding by the government. The draft prospectus is
ready for filing with the market regulator (Sebi) and have appointed the
book-running lead managers," HAL Chairman T Suvarna Raju told
reporters.
The
government, which owns the defence behemoth, has diluted 25% (120.5 million
shares) of its full holding through buy-back and collected Rs5,265 crore,
including Rs981 as tax from the company, during the last fiscal (2015-16).
Post-IPO, the government holding in the company will be 65%. "The
valuation process is underway to fix the issue price for the IPO. We hope to do
so by the end of this fiscal (2016-17) or during the ensuing fiscal
(2017-18)," asserted Raju. The cash-rich firm paid Rs750 crore as dividend
to the government for fiscal 2015-16. These shares are also likely to be attractive
to foreign institutional investors post-listing on the stock exchanges. The Total Investment & Insurance Solutions
Inflation
in Britain has reached a record high of 1.8% since 2014 in January, on the
rising fuel price, the Office for National Statistics (ONS) has said. The
latest ONS data showed on Tuesday that annual level of inflation as measured by
the Consumer Prices Index (CPI) hit 1.8% last month, compared to 1.6% in
December, making the first month of this year the fourth consecutive month that
the CPI rate has risen. "The latest rise in CPI was mainly due to rising
petrol and diesel prices, along with a significant slowdown in the fall in food
prices," Xinhua news agency quoted Mike Prestwood, head of inflation at
ONS, as saying. "The costs of raw materials and goods leaving factories
both rose significantly, mainly thanks to higher oil prices and the weakened
pound," said Prestwood. "Both house prices and rents continue to grow
over the year but with some signs of a slowdown in recent months." Chris
Williamson, chief business economist at IHS Markit, said the Bank of England's
2% target for inflation looks likely to be breached in the months ahead.
"Further upward pressure on prices looks inevitable in coming months as
energy costs continue to climb and firms pass rising costs on to customers,
pushing inflation up towards 3% in the second half of the year,"
Williamson said. As the British economy gets over-heated on account of
inflation, there is likely to be an adverse effect on the Indian stock markets. 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
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| Asian Indices (The Total Investment & Insurance Solutions) |
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