Contact Your Financial Adviser Money Making MC
29
March 2017
I had
mentioned in Monday’s closing report that Nifty, Sensex might rally a bit. The
major indices of the Indian stock markets closed on both Tuesday and Wednesday.The trends of the major indices in the course of Wednesday’s trading are
given in the table below:
 |
Major Indices (The Total
Investment & Insurance Solutions)
Indian
equity markets traded in the positive territory during the mid-afternoon trade
session on Wednesday as positive global cues, along with a strong rupee, buoyed
investors' sentiments. Besides, the market sentiments were lifted as Finance
Minister Arun Jaitley moved the Central Goods and Services Tax (CGST) Bill,
2017, along with three other GST Bills for consideration of and passage by the
Lok Sabha. However, with the near month March 2017 derivatives contract expiry
on Thursday, some caution prevailed. Buying was witnessed in banking, capital
goods and consumer durables stocks. There were 702 advances, 964 declines and
94 unchanged.
Positive
global cues and declining USD/INR supported the bullish sentiment. FMCG (fast
moving consumer goods), power, cement and telecom sector stocks witnessed good
strength, while IT (information technology), pharma, auto, oil-gas, textile and
media-entertainment stocks traded with mixed sentiments. The Total Investment & Insurance Solutions
All
members of the Rajya Sabha should resign if they have any pride left, Congress
leader M. Veerappa Moily said in the Lok Sabha on Wednesday, slamming the
government for undermining the house of elders by bringing in legislation to
the lower house as money bills to ensure their passage. The Congress leader was
participating in a debate on four GST bills in the Lok Sabha. "It is the
biggest step in federal law, federal finances. You are a representative of the
council of states. Finance Minister, you are denying rights to yourself,"
Moily said, referring to Finance Minister Arun Jaitley, a Rajya Sabha member.
The safe passage of the new legislation in Parliament will ensure stability in
Indian stock markets.
Kotak
Mahindra Bank announced its strategic plan to double its customer base in next
18 months. For this, the bank has launched a ‘unique new phenomenon called
811’. Uday Kotak says branch expansion will be more measured from here on as
the bank can cater to a wider customer base with fewer branches. Kotak says the
board will take decision on how much capital it will raise and how much of it
will be primary. Kotak Mahindra Bank shares closed at Rs858.95, down 0.10% on
the BSE. The Total Investment & Insurance
Solutions
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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