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22
December 2017
I had
mentioned in Friday’s closing report that Nifty, Sensex might move up. The
major indices of the Indian stock markets saw volatile trading through the week
and finally closed on Friday with small weekly gains of around 1.50% over last
Friday’s close. The trends of the major indices in the course of the week’s
trading are given in the table below: The
Total Investment & Insurance Solutions
Weekly Indices (The Total
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On
Monday, the major indices of the Indian stock markets soared on the BJP
(Bharatiya Janata Party) win in the Gujarat elections, after crashing by more
than 200 points in the initial few minutes. On the NSE, there were 906
advances, 773 declines and 325 unchanged. Sectorally, pharma, public sector
banks, auto, telecom and metals indices gained the most, while Realty slipped
marginally into the red. Market volumes were high as is expected on such days.
A break of 10,384-10,430 band could take the Nifty sharply in the upward
direction, observed market analysts. The Total Investment
& Insurance Solutions
Embattled
Indian miner Adani Group parted ways with mining services giant Downer and said
it would build and run the Carmichael coal mine, Australia's biggest coal
venture in central Queensland's Galilee Basin, on its own, a media report said.
Adani in a statement on Monday revealed that both parties had cancelled a
conditional $2.6 billion contract as part of Adani's cost-cutting drive
following last week's decision by the Queensland state government to veto an A$900
million federal government loan to Adani.
The
major indices of the Indian stock markets rallied on Tuesday and closed with
gains over Monday’s close. The BJP win in Gujarat elections continued to keep
the major indices on a long term upward trajectory. According to market
observers, a surge in auto, consumer durables and metals stocks, coupled with
favourable global cues, kept investors' sentiments buoyed. On the NSE, there
were 1,284 advances, 417 declines and 288 unchanged.
Bharti
Airtel through its subsidiaries has entered into a definitive agreement with
Millicom International Cellular under which Airtel Rwanda will acquire 100%
equity interest in Tigo Rwanda, a company statement said here on Tuesday.
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. 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
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, would issue up to
85 billion rupees worth of shares to mortgage lender HDFC Ltd on a preferential
basis, while the remainder would be raised via modes including American
Depositary Receipts and a share sale in India to institutional investors.
Key
Indian equity indices on Thursday closed on a flat-to-negative note on the back
of broadly negative global cues, along with selling in auto stocks. Automobile
major Mahindra and Mahindra -- which plunged over 3% -- was the top loser on
the BSE followed by Axis Bank, Maruti Suzuki, Hindustan Unilever and Bajaj
Auto. Telecom stocks like Reliance Communications (RCom) and Idea Cellular
closed higher after a Delhi court acquitted all the accused in the alleged
multi-thousand crore rupee 2G spectrum scandal. The BSE market breadth remained
bullish as 1,701 stocks advanced as compared to 1,014 declines. On the NSE,
there were 991 advances, 540 declines and 44 unchanged.
Software
major Tech Mahindra on Thursday announced a partnership with global management
consulting firm Gao Feng Advisory Company to set up a joint Artificial
Intelligence (AI) lab in Shanghai. The lab would work in the areas of
futuristic digital technologies including AI chatbot Services, smart process
automation, Neuro-linguistic programming (NLP), image recognition and
processing, Machine Learning (ML) and Predictive Analytics, according to Tech
Mahindra management. The Total Investment & Insurance
Solutions
On
Friday, the major indices of the Indian stock markets were range-bound and
closed with gains over Thursday’s close. Buying was seen in auto, IT
(information technology) and banking stocks. The BSE market breadth was bullish
as 1,613 stocks advanced as compared to 944 declines. On the NSE, there were
966 advances, 730 declines and 299 unchanged.
The
US Congress finally passed the Republican bill to overhaul the US tax code over
three decades, sending it to President Donald Trump's desk for signature, amid
concerns that the change would widen income inequality and swell public debt.
"By cutting taxes and reforming the broken system, we are now pouring
rocket fuel into the engine of our economy," Trump said. Some companies
said that they would spend the savings from lower corporate taxes on higher
wages and new construction.The Total
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