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29 January 2018
I had mentioned in Friday’s closing report that
Nifty, Sensex might go sideways. The major indices of the Indian stock markets
rallied on Monday and closed with gains over Friday’s close. On the NSE, there
were 427 advances, 1,086 declines and 27 unchanged. The trends of the major
indices in the course of Monday’s trading are given in the table below: The Total Investment & Insurance
Solutions
 |
Major Indices (The Total
Investment & Insurance Solutions)
Optimism ahead of the tabling of the Economic Survey 2017-18 in
Parliament, along with buying in auto, metals and banking stocks, lifted the
key Indian equity indices to trade at fresh high levels during the mid-afternoon
trade session on Monday. According to market observers, positive global cues,
coupled with the expectation of sops from the Union Budget 2018-19, lifted
investors' risk-taking appetite. The
Total Investment & Insurance Solutions
The
Economic Survey 2017-18 tabled in Parliament on Monday said that resolving the
non-performing assets (NPAs), or bad loans, of state-run banks and implementing
GST are among the major factors that will aid India log GDP growth of 6.75% in
the current fiscal, the Economic Survey for 2017-18 tabled in the Lok Sabha by
Finance Minister Arun Jaitley on Monday, has said. The S & P BSE Bankex
closed at 31,125.80, up 0.14% on the BSE.
Steps
taken towards development of inclusive "employment-intensive" industry,
and building of "resilient infrastructure improved the overall business
environment, said the Economic Survey 2017-18 released on Monday. This is
likely to lead to a bullish trend in the medium term for suppliers to smart
cities projects and infrastructure projects.
The Future Group on Friday said it has acquired Jasper Infotech-owned
Snapdeal's logistics arm Vulcan Express at Rs35 crore. "Jasper Infotech,
which also owns Snapdeal... has entered into an agreement with Future Supply
Chain Solutions... to sell 100% stake in Vulcan Express Pvt Ltd in an all-cash
deal valued at Rs35 crore," a Future Group statement said. Vulcan Express,
which services the logistics requirements of Snapdeal, Airtel and UPS, is
focused on e-commerce and high-value business-to-business logistics.
"Through Vulcan, we plan to boost our last mile capabilities and also
offer state-of-the-art solutions to our e-commerce and retail clients,
including realising our disruptive vision of Retail 3.0," said Kishore
Biyani, Founder and Chairman, Future Group. "Similar to our recent sale of
FreeCharge, we believe Snapdeal's sale of Vulcan Express to Future Group is a
successful deal for all three parties," said Jason Kothari, Chief Strategy
and Investment Officer, Snapdeal, who also led the sale of Snapdeal-owned
FreeCharge to Axis Bank. Future Retail shares closed at Rs548.55, down 1.18% on
the NSE. The Total Investment &
Insurance Solutions
Chinese
stocks opened mixed on Monday, with the benchmark Shanghai Composite Index up
0.15% to open at 3,563.64 points. The Shenzhen Component Index opened 0.09%
lower at 11,547.68 points, Xinhua news agency reported.
Ahead
of Finance Minister Arun Jaitley's last full Union Budget, the US-India
Business Council (USIBC) has urged him to further reduce tax uncertainty for
multinational companies and foreign investors, even as Indian industry has
voiced its own areas of concern.
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) |
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