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28
September 2017
I had
mentioned in Wednesday’s closing report that Nifty, Sensex might try to bounce.
The major indices of the Indian stock markets were range-bound 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)
Despite
broadly positive global cues, key Indian equity indices traded on a flat note
with marginal losses during the mid-afternoon session on Thursday. Volatility
was induced in the markets on the day of September derivatives expiry as
investors booked profits in oil and gas, consumer durables and banking stocks.
On the NSE, there were 894 advances, 532 declines and 58 unchanged.
All
174 passengers on board a SpiceJet flight on the Kabul-New Delhi route were
evacuated on Wednesday afternoon when terrorists attacked Kabul's Hamid Karzai
International Airport, the airline said. According to a SpiceJet spokesperson,
the boarding for SpiceJet's flight SG 22 was almost complete when the incident
took place. "Passengers and crew were safely deboarded and taken to the
terminal building. There was no damage to the aircraft," the spokesperson
said. At least 20 rockets landed near the Kabul airport after US Defence
Secretary Jim Mattis arrived in the Afghan capital. SpiceJet shares closed at
Rs127.25, down 2.19% on the BSE.
Banking
majors Punjab National Bank and IndusInd Bank have won the bid to provide
national passenger carrier Air India with over Rs3,000 crore government
guarantee backed "Short Term Loans" (STLs). According to highly
placed sources, the two banks will provide the STL to the airline. "These
two banks (PNB and IndusInd Bank) have won the bid to provide the STL. We are
expecting the first fund trench by next week," a source told IANS here on
Wednesday. Earlier, Air India had called for financial bids from leading
lenders by September 19. "Air India is looking for Government Guarantee
backed INR STLs totalling upto Rs3,250 crore in the first phase to meet its
urgent working capital requirements by September 25, 2017," the airline
had said in its tender document which was issued on September 13. "The
tenure of the loan will be for a period of one year from the date of availing
the STL. The amount... will be drawn in two or three tranches." The
airline that time had said that the guarantee is expected shortly, and will be
valid for a period of one year or till the date of disinvestment. The
government-backed loans are expected to help the airline in settling dues of
various vendors like oil companies and airport operators. The S & P BSE PSU
index closed at 8,253.81, up 0.59% on the BSE.
Sterlite
Tech launched a high-speed 5G-ready network solution titled
"FlashFWD" at the India Mobile Congress (IMC) 2017. With the highest
fibre density in the most compact cable package possible, the new technology
enables extremely high data speeds, the company said in a statement. The
"FlashFWD 5G Series" solution features multi-tube single jacket
ribbon optical fibre cable that combines robust performance for duct or direct
buried installations, with productivity of high-count mass fusion splicing.
"We are happy to bring our indigenously developed 5G-ready FlashFWD
solution that will enable data intensive low-latency solutions such as Cloud
computing, Augmented Reality, driverless cars, IoT and much more," said Dr
Anand Agarwal, CEO, Sterlite Tech. Sterlite Tech shares closed at Rs223.90,
down 1.13% on the BSE.
Driven
by digital offerings and the new wave of content play and convergence, the
Indian technology, media and entertainment and telecommunications (TMT) industry
is expected to grow to over half a trillion dollars by 2021 from the existing
quarter of a trillion dollars, an EY report said here. According to the
Ernst & Young (EY) report, with over 1.2 billion connected Indians, the
country is home to the second largest mobile market in the world, with
smartphones becoming main stream with increasing affordability and
availability, and consumers' growing data appetite. "What will fuel this
growth is connectivity, collaboration and convergence," the report said. "While
convergence creates opportunities outside your market, it also creates new
competitors to come and eat your pie. You need to be nimble, agile, ready to
break the traditional walls and adapt to this dynamic digital revolution,"
said Prashant Singhal, Emerging Markets TMT Leader, EY. The report noted that
boundaries within the TMT industry no longer existed as convergence had led to
new ways of working. The S & P BSE TECK index closed at 5,607.90, down
0.08% on the BSE.
The
top gainers and the top losers of the major indices are given in the table
below: The Total Investment & Insurance
Solutions
 |
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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