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27
December 2017
I had
mentioned in Tuesday’s closing report that Nifty, Sensex were headed higher.
The major indices of the Indian stock markets made new intra-day highs and
closed with small losses over Tuesday’s close. The trends of the major indices
in the course of Wednesday’s trading are given in the table below: The Total Investment & Insurance
Solutions
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Major Indices (The Total
Investment & Insurance Solutions)
Positive
Asian indices, along with buying in healthcare stocks, lifted the key Indian
equity indices to trade at new high levels during the mid-morning session on
Wednesday. According to market observers, a surge in the stocks of healthcare
majors like Sun Pharma and Dr Reddy's Lab added to the upward rally of the key
equity indices. But the gains were not sustained and the major indices closed
with small losses by the end of trading. On the NSE, there were 573 advances,
951 declines and 24 unchanged.
RCOM
continued to gain post the debt recast plan announced on Tuesday. Pharma sector
gained in line with some positive news for Sun Pharma and Glenmark getting
approvals from US Food and Drug Administration, pointed out market analysts. The Total Investment & Insurance
Solutions
Indian
manufacturing activity in December improved marginally over the previous month
taken over a yearly period, while the index fell more sharply on a month-wise
comparison, a key macro data showed on Tuesday. State-run State Bank of India's
(SBI) Composite Index is an indicator of manufacturing activity that helps
estimate periods of contraction and expansion. "The yearly SBI Composite
Index for Dec'17 is at 53.1 (Moderate Growth), compared to 53.0 (Moderate
Growth) in Nov'17. The M-o-M (month-on-month) index declined to 50.6 (Low
Growth) in Dec'17, compared to 51.2 (Low Growth) in Nov'17," according to
the bank's latest Ecowrap report. "This indicates a possible slowdown in
IIP (Index of Industrial Production - government data) growth in the next
couple of months," said the research report authored by bank Chief
Economic Adviser Soumya Kanti Ghosh. These factors are likely to be an
impediment for the bulls taking control of the Indian stock markets in the
medium term.
Jindal
Steel and Power Ltd (JSPL) has successfully completed a 250 tonne Basic Oxygen
Furnace (BOF) marking the completion of its six million tonne per annum (MTPA)
integrated steel project at Angul in Odisha. With the completion of the new
steel making facility, JSPL will utilise the full capacity of its four MTPA
Mega Blast Furnaces, the largest in India. The BOF will also enable the company
to achieve significantly higher cost effectiveness and efficiencies for steel
making.
The
250 tonne Basic Oxygen Furnace will produce three million tonne of high-grade
steel per annum. For the first time in India, JSPL has deployed the innovative
Dry Gas Cleaning System, which is superior in terms of environment-friendliness
as compared to the Wet Gas Cleaning Plant. "Adoption of Dry Gas Cleaning
System reiterates JSPL's commitment to green technology," D.K. Saraogi,
JSPL's Executive Director and Angul Plant head, said. The company’s shares
closed at Rs194.65, up 1.27% on the NSE.
Renewable
energy solutions provider Suzlon Group said it has commissioned its first
operational offshore meteorological station in the Arabian Sea to collect wind
data for two years. In a statement issued here, the group said it was working
on offshore wind energy technology and has initiated techno-commercial
feasibility study. Suzlon, along with its associates, under the guidance from
the National Institute of Ocean Technology (NIOT), Chennai, and approvals
through the National Institute of Wind Energy (NIWE), Chennai, had installed
its first Operational Offshore LiDAR (Light Detection and Ranging)-based wind
measurement station in the Arabian Sea, southwest of Jakhau Port in Kutch,
Gujarat, the statement said. The offshore wind data collection platform has
been installed at about 16 km from the shore in the territorial waters of
Gujarat. The unmanned met station will be powered by solar energy and will be
remotely monitored for maintenance needs. Engineers will visit the site for
general inspection periodically and cater to the servicing needs in case of a
breakdown. Additionally, an onshore mast of 150m has also been installed for
validation/ correlation purposes. Suzlon Energy shares closed at Rs15.15, up 1%
on the NSE. The
Total Investment & Insurance Solutions
US
home prices kept rising across the country in October, indicating that the
housing sector continued steady growth. According to a fresh report released by
S&P Dow Jones Indices Tuesday, the S&P CoreLogic Case-Shiller US
National Home Price NSA Index reported a 6.2-per cent-annual-gain in October,
up from 6.1% in the previous month. The 10-City Composite annual increase came
in at 6.0%, up from 5.7% in the previous month, while the 20-City Composite
increased 6.4% year-over-year, up from 6.2% in the previous month. Positive
macro-economic data has given an impetus to a bullish trend in the US stock
markets and consequently the Asian stock markets.
The
top gainers and top losers of the major indices are given in the table below:
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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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