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25
September 2017
I had mentioned in Friday’s closing report that Nifty, Sensex were headed
lower. The major indices of the Indian stock markets suffered a 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 on the back of prevailing geo-political tensions, coupled with
selling pressure in index heavyweights like Adani Ports, Tata Steel and Larsen
& Toubro, dragged the key Indian equities lower for the fifth consecutive
trade session on Monday. According to market observers, investors remained
cautious about the government's plans for a stimulus programme which might lead
to fiscal deficit. On the NSE, there were 345 advances, 1,334 declines and 299
unchanged. The Total Investment & Insurance
Solutions
The
benchmark indices extended losses on Monday with the Nifty50 breaching its
crucial 9,850 mark as investors turned jittery as they expect government to
tinker with its fiscal deficit target for FY18 by announcing an economic
stimulus to revive the economy, pointed out market analysts. Traders said apart
from continuous foreign funds outflows, selling by retail investors amid
lingering North Korea tensions led to a further drop in the Sensex. Foreign
portfolio investors sold shares worth a net Rs1,241.73 crore on Friday, showed
provisional data released by the stock exchanges.
The
State Bank of India (SBI) on Monday announced SBI Intelligent Assistant (SIA)
-- a chat assistant aimed to address customer enquiries like a "bank
representative" does. Developed by Payjo, an artificial intelligence (AI)
banking platform, "SIA" is equipped to handle nearly 10,000 enquiries
per second or 864 million in a day -- which is nearly 25% of the queries processed
by Google each day. "SIA is a perfect example of ground-breaking banking
application in AI and Conversational Banking (CB). It will enhance customer
service several notches above and Payjo's expertise in the conversational
banking domain helped us build 'SIA' as a superior chatbot in the global
banking space," said Shiv Kumar Bhasin, CTO of SBI, in a statement. The
chat assistant would be available across multiple customer touchpoints like
mobile, IVR, SMS and social media platforms. "SIA" would also be
enabled to interact in most regional languages. "'SIA' is a revolution in
the banking industry. It is set to disrupt the way banks and customers
interact," added Srinivas Njay, Founder and CEO of Payjo. Currently, the
chat assistant can address enquiries on banking products and services. It is
trained with a large set of knowledge and is adept at answering frequently
asked questions. SBI shares closed at Rs258.65, down 1.24% on the BSE.
Customers
of Tata Motors cars are getting younger and the models are getting active
enquiries from the personal car owner segment as against the earlier practice
of enquiries from fleet owners, a senior official said here on Monday.
"Customers of ours are getting younger. Lot of people who want a car for
their personal use have bought our models. There are active enquiries about our
models from people who want for their personal use now," Vivek Srivatsa,
Head-Marketing, Passenger Vehicle Business Unit said. He was here to launch
Tata Motors' new compact sports utility vehicle (SUV) Nexon. According to him,
the company has grown its passenger vehicle's segment by 22% last fiscal as
against the industry growth rate of 9%. Srivatsa said the growth was triggered
by the launch of new models like Tiago, Hexa and Tigor and also expansion of
the distribution network. Shares of Tata Motors closed at Rs408.20, down 0.73%
on the BSE. The Total Investment & Insurance
Solutions
Financial
services provider Tata Capital on Monday announced that it has signed a definitive
agreement to divest its foreign exchange and travel services to Thomas Cook
(India). The company said it signed the agreement to divest 100% of its
shareholding in its wholly owned subsidiaries -- Tata Capital Forex (foreign
exchange) and TC Travel and Services (travel services) -- to Thomas Cook
(India). "These companies will continue to run under the Tata Capital
management, in consultation with Thomas Cook on specific matters, till the
closing date when the share sale will be consummated," the company said in
a statement here. The network of the two acquired companies currently spans 26
locations and approximately 300 employees, the statement added. "Travel
and forex services are growing sectors in the Indian economy. We are confident
that Thomas Cook, with its large scale and network, will build these businesses
further and help them reach their potential," said Praveen Kadle, Managing
Director and Chief Executive Officer, Tata Capital. The S & P BSE Finance
index closed at 5,581.48, down 1.32% on the BSE. The Total Investment & Insurance Solutions
The
slowdown in economic growth, the lack of jobs, a stimulus package to kickstart
the economy and the next round of assembly polls dominated the BJP National
Executive meeting here on Monday addressed by Prime Minister Narendra Modi and
party President Amit Shah with the political and economic resolutions to be its
highlights. The government is concerned over the latest Gross Domestic Product
(GDP) figures which have shown a growth rate of 5.7% and Union Finance Minister
Arun Jaitley has been talking of a package to revive economic growth after the
November 8 demonetisation slowed it down. An economic resolution is also likely
to be passed keeping the focus on demonetisation and the roll out of GST (Goods
and Services Tax).
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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