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30
November 2017
I had
mentioned in Wednesday’s closing report that Nifty, Sensex were directionless.
The major indices of the Indian stock markets suffered a sharp correction on
Thursday and closed with significant losses 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)
Key Indian equity indices on Thursday traded
on a subdued note in the mid-afternoon session with selling pressure in
banking, auto and metal stocks. According to market observers, investors traded
with caution on futures and options (F&O) expiry day, as well as ahead of
the second quarter GDP data announcement later in the day. On the NSE, there
were 579 advances, 887 declines and 53 unchanged. Nifty breached the
10,300-mark to take the markets further down. The Total Investment & Insurance Solutions
India's
budgetary fiscal deficit for the first seven months of 2017-18 stood at 96.1%
-- Rs5.25 lakh crore -- of the full year's target of Rs5.46 lakh crore,
official data showed on Thursday. The data furnished by the Comptroller General
of Accounts (CGA) showed that April-October fiscal deficit was 79.3% of the
budget in the like period of the last fiscal. According to the CGA data, net of
tax revenue during the period under review was Rs6.33 lakh crore, or 51.6% of
the estimates. The total receipts -- from revenue and non-debt capital --
during the fiscal's first seven months were Rs7.67 lakh crore, or 48% of the
estimates for the current year. The data revealed that total expenditure --
incurred on revenue and capital -- during the April-October period was Rs12.92
lakh crore, or at 60.2% of the entire fiscal's estimate. The 2017-18
deficit -- the difference between revenue and expenditure -- has been pegged at
Rs5.46 lakh crore for 2017-18, as compared to the deficit of Rs5.34 lakh crore
for the last fiscal. The high fiscal deficit is likely to stoke inflationary
pressures and raise interest rates. This in turn would pull back the bulls in
the Indian stock markets.
Reliance General Insurance Company Ltd on
Thursday said securities market regulator Securities and Exchange Board of
India (SEBI) has issued its final observation letter to the draft red herring
prospectus (DRHP) filed by it. The DRHP was dated October 9, 2017. In a
statement issued here, Reliance General Insurance said the initial public offer
(IPO) size aggregates to 25% of the post issue paid up capital of the company
and comprises of a fresh issue of upto 1,67,69,995 equity shares by the company
and an offer for sale by Reliance Capital Limited of upto 5,03,09,984 equity
shares. The face value of the equity shares is Rs10 per share. The Total Investment & Insurance
Solutions
Ashok
Leyland, one of the largest commercial vehicle manufacturers, plans to set up a
bus plant in Andhra Pradesh, it was announced. The plant is proposed on 75
acres of land in Malavalli Industrial Park in Krishna district near here. It
will have the capacity to produce 4,800 buses per year. Ashok Leyland CEO &
MD Vinod K. Dasari met Chief Minister N. Chandrababu Naidu here and informed
him about the proposal. The facility will have the potential of directly and
indirectly employing over 5,000 people, said a statement from the Chief
Minister's office. The facility will also contain an electric vehicle
development centre comprising of a futuristic conveyor line, pilot assembly
line and prototype development. The plant will be a green facility, with roof
top solar panels, LED lighting, battery operated vehicles for in-plant
movement, positive water balance and zero discharge, it added. The company’s
shares closed at Rs117.95, down 2.44% on the BSE.
Jet
Airways entered into an agreement with Air France-KLM to enhance cooperation
and combine their networks between Europe and India. The airline pointed out
that for the 2017-18 winter season, Air France, KLM and Jet Airways operate 64
weekly flights between the Paris-Charles de Gaulle and Amsterdam-Schiphol hubs
and four destinations in India - Delhi, Mumbai, Bengaluru and Chennai. Jet
Airways shares closed at Rs679.25 up 1.52% on the BSE.
The top gainers and 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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