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17
August 2017
I had
mentioned in Wednesday’s closing report that Nifty and Sensex might head
higher. The major indices of the Indian stock markets were range-bound on
Thursday and ended flat compared to 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
key Indian equity indices traded on a flat-to-positive note during the
mid-afternoon trade session on Thursday, as buying in metal, oil and gas, and
IT (information technology) stocks kept investors' sentiments buoyed. However,
market observers opined that a mixed trend observed in the global markets,
coupled with profit booking in automobile and banking stocks, pared gains. The
Nifty50 of the National Stock Exchange (NSE) traded above the psychologically
important 9,900-level. On the NSE, there were 796 advances, 615 declines and 66
unchanged. The Total Investment & Insurance
Solutions
Indian
equity benchmarks climbed during the morning session, following gains in Asian
peers, after the US Federal Reserve meeting minutes reduced the odds of another
interest rate increase this year. Infosys was the top gainer on both the
indices after saying its board will consider a proposal to buy back
shares. The Total Investment & Insurance
Solutions
The
Infosys’ Board of Directors will meet on Saturday to consider a proposal for
buyback of its equity shares of Rs5 face value. "The Board of Directors
will consider a proposal for buyback of equity shares of the company at its
meeting to be held on 19th August," Infosys said in a regulatory filing.
The outcome of the Board will be notified to the stock exchanges (BSE and NSE)
on the same day. In view of the Board meeting on the share buyback, the company
closed the trading window with immediate effect and will re-open on 22nd
August, said Company Secretary AGS Manikantha in the filing. The company on
13th April had hinted at the buyback during this fiscal (2017-18) up to
Rs13,000 crore. The company’s shares closed at Rs1,021.05, up 4.70% on the NSE. The Total Investment & Insurance Solutions
Roll-out
of 4G technology with an increase in data, entry of new players in the market,
introduction of digital wallets and the popularity of smartphones leading to
consistent increase in demand for technology are likely to increase job
opportunities in the telecom sector by 30 lakh by 2018, a study said on
Thursday. Emerging technologies such as 5G, M2M and the evolution of
Information and Communications Technology (ICT) are expected to create
employment avenues for almost 8.70 lakh individuals by 2021, revealed a joint
study by Assocham-KPMG. It said the existing manpower in the sector may not be
adequate both in number as well as in skill to cater to the upcoming demand. The Total Investment & Insurance Solutions
"There
is a need to bridge the gap in skill which on the one hand would require
identification of skilled manpower in diverse roles such as infra and cyber
security experts, application developers, sales executives, infrastructure
technicians, handset technicians etc. as well as on the other hand re-skilling
of existing manpower working on existing technologies for them to be updated
with upcoming requirements." The Telecom Sector Skill Council has been set
up to cater to the demands and skill needs of the telecom sector. Reliance
Communications shares closed at Rs23.20, down 1.07% on the NSE. The Total Investment & Insurance Solutions
Software
major Wipro on Wednesday announced that it had won a five-year deal to manage
the IT infrastructure and services of Bangladesh's telecom operator
Grameenphone Ltd. "We will manage the IT landscape for the operator by
leveraging our Artificial Intelligence platform Holmes, own application
development and management, infrastructure support and maintenance and back
offices process for it," the company said in a statement here. The world's
leading mobile operator Telenor group holds majority equity stake in
Grameenphone. Wipro shares closed at Rs288.35, down 0.59% on the NSE. The Total Investment & Insurance Solutions
The
Nasdaq stock exchange has celebrated India's 71th Independence Day with Sandeep
Chakravorty, India's New York Consul General, ringing the opening bell.
Chakravorty on Wednesday said that the financial sector was the most important
determinant of "the incredible" India-US economic partnership and
"in this the role of Nasdaq is critical". Five companies with a strong
presence in India that have a combined market capitalisation of over $40
billion are listed on the exchange, Nasdaq Vice President Joe Brantuk said at
the ceremony. It is the eighth year that Nasdaq, home to several high-tech
powerhouses like Microsoft, Facebook and Google parent Alphabet, celebrated
August 15. This is good news for investors who wait for higher investments in
Indian stock markets from foreign institutional investors.
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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