Contact Your Financial Adviser Money Making MC
6
July 2017
I had
mentioned in Wednesday’s closing report that Nifty, Sensex were in an uptrend.
The major indices of the Indian stock markets staged a minor rally on Thursday
and closed with small gains 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) |
The
Indian equity markets traded with gains during the mid-afternoon session on
Thursday, with buying witnessed in banking, automobile and capital goods
stocks. Equity benchmarks opened moderately higher on Thursday despite weak
Asian markets. Auto, FMCG (fast moving consumer goods), healthcare and metals
traded in the positive, while oil and gas and consumer durables sectors traded
in the negative. Banking sector traded in the green on account of weekly Bank
Nifty expiry, pointed out market analysts. On the NSE, there were 901 advances,
750 declines and 298 unchanged. The Total
Investment & Insurance Solutions
The
World Bank's private financing arm IFC has invested Rs667 crore ($103 million)
in L&T Infrastructure Finance Co by subscribing to the first official Green
Bonds in India, a joint statement by both parties said on Thursday. "This
is in line with the International Finance Corporation's (IFC) strategy to
support renewable energy infrastructure in the country and also develop the
capital markets," the statement said. The L&T Finance Holdings
subsidiary L&T Infrastructure Finance "will use this money to give
loans to solar power projects". "The issue by L&T
Infrastructure Finance to IFC qualifies as the first Green Bond approved by
Sebi (Securities and Exchange Board of India)." Larsen & Toubro shares
closed at Rs1,699.00, up 0.20% on the BSE. The
Total Investment & Insurance Solutions
Diversified
company Piramal Enterprises on Wednesday announced that its subsidiary Piramal
Finance Ltd (PFL) has sanctioned an additional Rs700 crore to renewable energy
firm ACME Solar Holdings. "The deal was made by introducing a new product
-- a Flexi Line of Credit -- for the renewable energy sector," a Piramal
release said here. Earlier in 2016, Delhi-based ACME Solar raised Rs 499 crore
from PLF and its partner APG, a Dutch pension fund. According to the statement,
ACME is one of the country's largest private solar energy producers with a portfolio
of over 1.8 GW across 14 states. The company's current operational capacity is
over 1 GW and is expected to reach 1.4 GW by the end of September. Commenting
on the development, ACME Group Chairman Manoj Kumar Upadhyay said: "The
current funding provides us with the required flexibility to invest in the
solar and electric transportation business and ensure timely completion of
projects. The shares of Piramal Enterprises closed at Rs2,942.00, up 4.36% on
the BSE. The Total Investment & Insurance
Solutions
India's
service sector activity rose to an eight-month high of 53.1 in June boosted by
a significant jump in new work orders, indicating a solid upturn in output
across the sector, key macro-economic data showed. The seasonally
adjusted Nikkei India Services PMI Business Activity Index registered a higher
rate of expansion at 53.1 in June, up from 52.2 in May. An index reading of
above 50 indicates an overall increase in economic activity, and below 50 an
overall decrease. "Up from 52.2 in May to an eight-month high of 53.1 in
June, the seasonally adjusted Nikkei India Services PMI Business Activity Index
signalled a solid and accelerated upturn in output across the sector,"
according to the survey by Nikkei. "Business conditions in India's
service sector continued to improve in June as a solid and accelerated upturn
in new work resulted in a faster increase in activity," it said.
"Growth of service sector activity and inflows of new business
picked up as better demand conditions and marketing efforts bore fruit,"
said Pollyanna De Lima, economist at IHS Markit and the author of the report.
"June's figure contributed to the highest quarterly average for the
composite PMI (52.2) since Q2 (FY) 2016. This suggests that GDP growth is
likely to rebound from the sharp slowdown noted in the first three months of
2017," she added. The S & P BSE Teck closed at 5,557.47 up 0.01% 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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