Contact Your Financial Adviser Money Making MC
28
November 2017
I had mentioned in Monday’s closing report that
Nifty, Sensex were headed higher. The major indices of the Indian stock markets
were range-bound on Tuesday and closed with small losses over Monday’s close.
The trends of the major indices in the course of Tuesday’s trading are given in
the table below: The Total Investment & Insurance
Solutions
 |
Major Indices (The Total
Investment & Insurance Solutions)
Key
Indian equity indices traded in the red during the mid-afternoon session on
Tuesday as negative Asian indices as well as profit booking in oil and gas and
consumer durables stocks kept investors' sentiments subdued. Index heavyweights
like ONGC, Power Grid, NTPC, Reliance Industries and ICICI Bank traded lower on
the BSE market breadth. Investor confidence in China was on a decline due to
rising bond yields. On the NSE, there were 728 advances, 793 declines and 50 unchanged. The
Total Investment & Insurance Solutions
The
government on Tuesday appointed IAS officer Pradeep Singh Kharola as the
Chairman and Managing Director (CMD) of Air India. According to the
Appointments Committee of the Cabinet (ACC), Kharola is an IAS officer of the
Karnataka cadre of 1985. Kharola headed the Metro in Bengaluru as Managing
Director. Interestingly, the appointment comes just days after the incumbent
CMD of Air India Rajiv Bansal was given a three- month extension. The S & P
BSE PSU closed at 9,313.39, down 0.61% on the BSE.
Global
software major Infosys said it would hire 500 Americans in US' Rhode Island
state in the next 5 years. "We will hire 500 American workers in Rhode
Island over the next 5 years where a design and innovation hub will be set up
in multi-year partnership with its state, a said the city-based $10 billion
firm in a statement here. Welcoming the IT firm, Governor Raimondo said the
people were equipped and prepared to compete for the Infosys jobs.
"Infosys joins a growing local market of innovative, advanced industry
firms that have chosen to plant a flag in Rhode Island where we have invested
in higher education and job training," he said. The hiring in Rhode Island
is part of the company's announcement on May 2 to recruit 10,000 Americans by
setting up four such hubs across the US to focus on new technologies, including
artificial intelligence, machine learning, user experience, emerging digital
technologies, cloud and big data. Infosys shares closed at Rs984.50, down 1.30%
on the BSE.
With
new product launches, Maruti Suzuki shares soared to close at Rs8,633.00, up
1.48% on the BSE. The Total Investment & Insurance
Solutions
Jerome
Powell, US President Donald Trump's nominee to lead the Federal Reserve, said
he expected the central bank to continue monetary tightening and to ease
regulatory burdens on financial system. "If confirmed, I would strive,
along with my colleagues, to support the economy's continued progress toward
full recovery," said Powell in remarks to be delivered at his Senate
confirmation hearing on Tuesday, Xinhua reported. "We expect interest
rates to rise somewhat further and the size of our balance sheet to gradually
shrink," Powell said in the remarks which were released on Monday before
his hearing. He also noted that the central bank should be prepared to respond
decisively in response to crisis. In regard to regulatory reforms, Powell said
the central bank under his leadership will consider appropriate ways to ease
regulatory burdens on the financial system while preserving core reforms, such
as strong capital and liquidity requirements, stress testing and resolution
planning. In India, the expected rise in interest rates will be reflected and
equity market bulls are likely to be adversely affected to that extent. 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 Asian indices are given in the table below: The Total Investment & Insurance
Solutions
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| Asian Indices (The Total Investment & Insurance Solutions) |
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