Contact Your Financial Adviser Money Making MC
17
January 2018
I had
mentioned in Tuesday’s closing report that Nifty, Sensex were under minor
pressure. The major indices of the Indian stock markets rallied on Wednesday
and closed with significant gains over Tuesday’s close. On the NSE, there were
887 advances, 905 declines and 78 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)
Key
Indian equity indices on Wednesday traded with substantial gains during the
mid-afternoon session, with the barometer 30-scrip Sensitive Index (Sensex) of
the BSE hitting the 35,000-mark on an intra-day basis for the first time.
According to market observers, optimism around quarterly corporate earnings,
along with a surge in banking, healthcare and IT (information technology)
stocks, lifted the equity indices to trade at fresh high levels.
Commercial
vehicles major Ashok Leyland Ltd on Wednesday announced it has signed a Letter
of Intent (LoI) with Phinergy of Israel to secure long-term arrangements for
its electric vehicle plans. In a statement here, Ashok Leyland said: "With
the intention of providing varying Energy Management solutions to the
customers, Ashok Leyland and Phinergy will work towards the adaptation of
unique, competitive and sustainable solutions for high-energy applications in
the commercial vehicles space." According to the statement, Phinergy has
developed cutting edge technology solutions for the use of Aluminium Air
Batteries for electric vehicles and other applications. With Ashok Leyland,
Phinergy will be tailoring its unique technology to meet the demanding
high-energy requirements of commercial vehicles in the Indian market, the
statement said. Ashok Leyland shares closed at Rs124.45, up1.64% on the NSE.
Leading
natural gas company GAIL said it has re-negotiated the "price and
volume" of the long-term LNG sale and purchase agreement (SPA) with
Russia's Gazprom. According to the company, the two parties have agreed to an
"adjustment to the price and volume of LNG" supply. "The two
parties have agreed to an adjustment to the price and volume of LNG supply thus
enabling GAIL to develop incremental gas markets to offtake these volumes
thereby mitigating volume risk," the company said in a statement. Gail had
entered into a long-term LNG SPA building up to 2.5 MMTPA on a DES
(Discharge-ex-Ship) basis with Gazprom Marketing & Trading Singapore (GMTS)
in 2012. The LNG supplies under the agreement are scheduled to start from the
second quarter (Q2) of 2018. "This agreement is a key mile stone affirming
partnership of GAIL and Gazprom in developing LNG markets under Indo-Russia
trade relationship," B.C. Tripathi, Chairman and Managing Director of GAIL
(India), was quoted as saying in the statement. GAIL shares closed at Rs480.55,
up 0.39% on the NSE.
Stock
exchange major BSE on Wednesday said its currency derivatives segment hit a new
record with the highest turnover of over Rs45,000 crore. "BSE, the largest
exchange in the currency derivatives segment, hit a new record with the highest
turnover of Rs45,575 crore on 16 January 2018," BSE said in a statement.
Currency derivatives include futures and options, with four pairs of
currencies traded at future prices. "The dollar-rupee is the most
popularly traded pair, holding about 95% market share," the statement
added. This is news favourable to foreign institutional investors who invest in
India, as an emerging market.
Global
IT spending is projected to total $3.7 trillion in 2018 -- an increase of 4.5%
from 2017, market research firm Gartner said. "Global IT spending growth began
to turn around in 2017, with continued growth expected over the next few years.
Uncertainty looms as organisations consider the potential impacts of Brexit,
currency fluctuations and a possible global recession," John-David
Lovelock, Research Vice President at Gartner, said in a statement.
"Projects in digital business, blockchain, Internet of Things (IoT) and
progression from big data to algorithms to Machine Learning (ML) to Artificial
Intelligence (AI) will continue to be main drivers of growth," Lovelock
added. Worldwide software spending is projected to grow 9.5% in 2018 and it
will grow another 8.4% in 2019 to total $421 billion. Organisations are
expected to increase spending on enterprise application software in 2018, with
more of the budget shifting to software as a service (SaaS). Driven by
end-user spending on mobile phones, the devices segment is expected to grow
5.6% in 2018. This is good news for the growth of the IT industry in India. The
S & P BSE Information Technology Index closed at 12,183.28, up 1.28% on the
BSE. 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) |
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