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9
March 2017
I had
mentioned in Wednesday’s closing report that Nifty, Sensex were still
range-bound, though bears were continuing to dominate. The major indices of the
Indian stock markets continued to be range-bound on Thursday and closed with
minor losses over Wednesday’s close. The trends of the major indices in the
course of Thursday’s trading are given in the table below: The Total Investment & Insurance
Solutions
 |
Major Indices (The Total
Investment & Insurance Solutions)
Indian
equity markets traded on a flat-to-negative note during mid-afternoon trade on
Thursday as selling pressure was witnessed in oil and gas, metal and healthcare
stocks. According to market observers, investors remained cautious ahead of
assembly elections' exit poll outcome. Besides, investors were spooked ahead of
the European Central Bank (ECB) monetary policy review later in the evening and
the US Federal Open Market Committee (FOMC) meet next week. The Total Investment & Insurance Solutions
The
BSE market breadth was marginally tilted in favour of the bears -- with 1,393
declines and 1,219 advances. CNX Nifty traded with sideways sentiments due to
profit-booking. Correction in USD/INR futures prices from higher levels
provided support to the Indian equity market at current levels. IT (information
technology) sector stocks faced resistance at higher levels, while banking,
pharma, auto, oil-gas, FMCG (fast moving consumer goods) and power sector
stocks traded with bearish sentiments due to profit booking.
Tata
Steel UK has completed the consultation process to close its existing pension
scheme for its workers from 31 March 2017. A new pension scheme will be
implemented from April 1, 2017.
Tata
Steel Ltd disclosed the development in a regulatory filing in BSE on Wednesday.
During the consultation process, the company spoke to more than 4,000 employees
at more than 90 face-to-face briefings across the UK and also received feedback
from trade unions. According to the statement, after considering responses
received and sharing the review with the trade unions, Tata Steel UK has
informed its employees it will close the British Steel Pension Scheme to future
accrual. Tata Steel shares closed at Rs469.50, down 0.72% on the BSE.
Software
major's US arm Infosys Public Services on Wednesday announced partnering with
the Texas Department of Family and Protective Services to modernise its child
welfare information system. "The Information Management Protecting Adults
and Children of Texas system will be modernised to deliver child welfare
related services," said the IT firm subsidiary in a statement here. The
primary case management and administrative system is used by 10,500 employees
at 250 locations to serve 12 million children, the elderly and the disabled.
"In the second phase, the system will be modernised into a modular,
mobile-enabled application with automated workflows and self-service
capabilities for child protective services, adult protective services, child
care licensing and prevention and early intervention programme areas,"
said the statement. Infosys shares closed at Rs1011.60, up 0.43% 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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