Contact Your Financial Adviser Money Making MC
22
June 2017
I had mentioned in Wednesday’s closing report
that Nifty, Sensex were still on an uptrend. The major indices of the Indian
stock markets were range-bound on Thursday after almost hitting a new high and
ended flat compared to Wednesday’s close. The trends of the major indices in
the course Thursday’s trading are given in the table below: The Total Investment & Insurance
Solutions
 |
Major Indices (The Total
Investment & Insurance Solutions)
Taking
cue from global markets the key Indian equity market indices on Thursday opened
higher. The Sensitive Index (Sensex) of the BSE, which had closed at 31,283.64
points on Wednesday, opened higher at 31,351.53 points. It touched a new high
of 31,522.87 points during intra-day trade. On the NSE, there were 621
advances, 1,045 declines and 81 unchanged. The Total Investment & Insurance Solutions
After
two days of corrections, the Indian equity markets closed on a flat note during
Thursday's trade session. With speculation on further interest rates hikes from
the US government, stock markets in India are hesitant about new market rallies
even in the middle of a reasonable South-West monsoon and good domestic economy
trends. Medium term investors can expect to book profits by Diwali.
Asian
indices were showing a positive trend. Japan's Nikkei 225 was trading in green,
up by 0.22%, the Hang Seng was up by 0.55% while South Korea's Kospi was also
up by 0.31%. China's Shanghai Composite index was quoting in green, up by
0.62%. Nasdaq closed in green, up by 0.74% while FTSE 100 was down by 0.33% at
the closing on Wednesday. The Total
Investment & Insurance Solutions
Hit by
global political and economic uncertainties, the Indian IT industry's software
exports are projected to grow at 7%-8% this fiscal (2017-18), which is
lower than 8%-10% in the 2016-17 fiscal, the apex Nasscom said on Thursday.
"The outlook for the IT industry in fiscal 2017-18 is 7%-8% growth in
exports and 10%-11% in the domestic market as against 10%-12% in 2016-17,"
the National Association of Software and Services Companies (Nasscom) said in a
statement.
The
lower export outlook comes in the light of political and economic uncertainties
that impacted decision-making and discretionary spend during the last fiscal
(2016-17). The $150-billion Indian IT industry includes revenues from Business
Process Management (BPM), software services and software products. Their
exports contribute about 80% to the revenue, with the US market accounting for
60% of it. Noting that digital solutions and niche segments would be the key
growth drivers, the industry's representative body said the revenue projection
was based on improvements in financial services and high potential in digital
business. Allaying fears of slowdown and job losses, Nasscom Chairman
Raman Roy told reporters that the industry was expected to add 1.3-1.5 lakh
jobs during the fiscal as it continued to be a net hirer with the demand for
skilled professionals growing across its segments. The industry association,
however, admitted that it was imperative for new and existing talent to reskill
to prepare for emerging job roles which required new skillsets. The S & P
BSE Information Technology 9.887.30, 0.33% down on the BSE. Healthy buying in
stocks of banking majors such as State Bank of India, Axis Bank and HDFC Bank
lifted the market sentiment. Bank Nifty closed at 23,736.10, up 0.12% on the
NSE.
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) |
No comments:
Post a Comment