Contact Your Financial Adviser Money Making MC
20
December 2017
I had
mentioned in Tuesday’s closing report that Nifty, Sensex were headed higher.
The major indices of the Indian stock markets were volatile on Wednesday and
scaled some intra-day highs. But the gains were not sustained and the major
indices closed Wednesday on a flat-to-negative note. On the NSE, there were
1,017 advances, 671 declines and 303 unchanged. The trends of the major indices
in the course of Wednesday’s trading are given in the table below: The Total Investment & Insurance
Solutions
 |
Major Indices (The Total
Investment & Insurance Solutions)
Continuing with gains for the fifth
consecutive session, the key indices of the domestic equity markets touched
record intra-day high levels on Wednesday. On an intra-day basis, the BSE
Sensex touched a record high level of 33,956.31 points, surpassing its previous
high of 33,865.95 points recorded on November 7. Similarly, the NSE Nifty50
edged higher to a new intra-day level of 10,494.45 points, crossing its
previous intra-day high of 10,490.45 points scaled on November 6. However, the
key indices gave up some gains to retreat from their record levels to trade on
a flat note during the mid-afternoon session. According to market observers, a
surge in auto, consumer durables and capital goods stocks, coupled with
favourable global cues, kept investors' sentiments buoyed in the early part of
the day’s trading. The Total Investment
& Insurance Solutions
India's National Association of Software and
Services Companies (NASSCOM) and China's Dalian city have signed an agreement
to set up a platform for partnership between Indian and Chinese IT (information
technology) companies. The move will help Indian IT software companies enter
Dalian, a cyber city in China's northeast province Liaoning where over a dozen
of Indian firms such as Infosys, TCS, HCL and others are already present. Under
the agreement signed on Tuesday evening, Indian companies will get
"preferential" entry into the Chinese market. The S & P BSE
Information Technology Index closed at 10,917.70, up 0.57% on the BSE. The Total Investment & Insurance
Solutions
HDFC
Bank Ltd said on Wednesday it would raise up to 240 billion rupees ($3.75
billion) to fund growth by selling shares to investors, including a
preferential issue to its parent HDFC Ltd. HDFC Bank, the most valuable in the
sector with a market capitalisation of more than $76 billion, will issue up to
85 billion rupees worth of shares to mortgage lender HDFC Ltd on a preferential
basis, while the remainder will be raised via modes including American
Depositary Receipts and a share sale in India to institutional investors. HDFC
Bank shares closed at Rs1,866.35, down 0.96% on the NSE.
Rupee appreciation, along with GST
implementation issues and subdued demand has dampened the manufacturing
sector's outlook for the third quarter of 2017-18. Industry body Ficci's
quarterly survey on manufacturing released on Tuesday, suggested a
"slightly less optimistic outlook" for the manufacturing sector in Q3
"as the percentage of respondents reporting higher production in third
quarter has fallen vis-à-vis previous quarter". "This less
optimistic outlook for manufacturing in third quarter of current fiscal is
reported to be due to factors like rupee appreciation impacting exports, issues
with regard to GST implementation and subdued demand in several sectors,"
Ficci said in the survey report. Ficci's survey assessed the expectations of
manufacturers for Q3 for twelve major sectors. S & P BSE India
Manufacturing Index closed at 456.42, down 0.11% on the BSE. The Total Investment & Insurance
Solutions
Infosys BPO (Business Process Outsourcing),
the back office services arm of the software major, has been renamed as Infosys
BPM (Business Process Management), the company said. "The company
has received the approval of the Ministry of Corporate Affairs to change the
name of Infosys BPO to Infosys BPM. The new name is effective immediately and
will be implemented across the company's services," a company statement
said. Infosys shares closed at Rs1,016.35, down 1.24% on the NSE. 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
 |
| Asian Indices (The Total Investment & Insurance Solutions) |
No comments:
Post a Comment