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21
August 2017
I had
mentioned in Friday’s closing report that Nifty, Sensex might head higher. But
the major indices of the Indian stock markets suffered a further correction on
Monday and closed with losses over Friday’s close. The trends of the major
indices in the course of Monday’s trading are given in the table below: The Total Investment & Insurance
Solutions
 |
Major Indices (The Total
Investment & Insurance Solutions)
Negative
global cues pulled the key Indian equity indices -- the NSE Nifty 50 and the
BSE Sensex -- lower during mid-afternoon trade. According to market observers,
subdued global benchmark indices coupled with foreign fund outflows eroded
investors' risk-taking appetite. Selling pressure was witnessed in IT (information
technology), healthcare and automobile stocks. On the NSE, there were 409
advances, 1,024 declines and 41 unchanged. Indian indices erased all the
morning gains, as Asian and European indices turned negative in trade.
Global
cues and direction of foreign funds' flows are expected to affect the movement
of key equity indices during the upcoming week, market observers opined. With
earnings season almost over, markets would now focus on global risks and
political developments from the US, valuations, domestic flows and stock- or
sector-specific developments, observed analysts. Apart from global cues, the
direction of foreign fund flows is expected to influence the trajectory of the
equity indices. The Total Investment & Insurance
Solutions
Banking
operations across the country will be affected on Tuesday with around 10 lakh
bankers going on strike pressing various demands. TCS iON, a business unit of
IT major Tata Consultancy Services (TCS), on Monday announced its partnership
with the Institute of Company Secretaries of India (ICSI) to help foster
digital learning opportunities for students. Ruia brothers-led Essar Oil on
Monday announced the closure of the company's sale, including its Vadinar
refinery, to Russian state-run Rosneft-led consortium for $12.9 billion. The
deal includes acquisition of Essar Oil's (EOL) 20 million tonne Vadinar
refinery in Gujarat and its retail outlets, as well as the Vadinar Port at an
additional $2 billion. The first deal involves the sale of 49.13% stake in
Essar Oil to Petrol Complex, a subsidiary of Rosneft, while the second
envisages the sale of remaining 49% to Kesani Enterprises, owned by a
consortium led by Trafigura and United Capital Partners. The remaining 1.74%
stake continues to be held by retail shareholders. Essar Shipping shares closed
at Rs28.90, up 12.89% on the BSE.
Budget
passenger carrier IndiGo alleged that "in the last few days, there have
been misinformed media reports suggesting that IndiGo is cancelling 85 daily
flights," the airline said in a statement. IndiGo was reacting to media
reports that claimed that the carrier has cancelled over 80 daily flights and
grounded 13 of its new A-320neo aircraft due to engine-related issues. The
airlines said it had been regularly updating investors and the press about
issues related with their aircraft engines. The shares of the company
(Interglobe Aviation) closed at Rs1,268.65, down 0.13% 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 indices are
given in the table below: The Total
Investment & Insurance Solutions
 |
| Asian Indices (The Total Investment & Insurance Solutions) |
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