Contact Your Financial Adviser Money Making MC
23
January 2018
I had
mentioned in Friday’s closing report that Nifty, Sensex were looking weak. The
major indices rallied in a small way on Monday and closed with less than 0.50%
gains over Friday’s close. The rally was however on lower volumes of trading.
There is no immediate trigger for the Nifty to head higher and so the index may
be range-bound between 8,550 and 8,650. The trends of the major indices in the
course of Monday’s trading are given in the table below:
 |
Major Indices (The Total
Investment & Insurance Solutions)
Indian
equity markets traded flat during the mid-afternoon session on Monday prompted
by mixed global cues and lower crude oil prices. Selling pressure was witnessed
in information technology (IT), healthcare and banking stocks. The BSE market
breadth was tilted in favour of the bears -- with 1,465 declines and 1,216
advances. On the NSE, on Monday, there were 636 advances, 821 declines and 69
unchanged.
Initially,
on Monday, the benchmark indices opened on a flat note prompted by mixed Asian
and US markets. Investors also remain cautious ahead of key domestic
macro-economic data such as gross domestic product (GDP) and eight core
industrial output data to be announced on August 31. Besides, lower crude oil
prices also added to the downward trajectory. However, Indian equity markets
were lifted by sector-specific buying. Consequently, the key Indian indices
closed the day's trade in the green, as healthy buying was witnessed in
automobile, capital goods and metal stocks.
Following
its merger with Bharti's retail business, Future Retail got listed at Rs153 on
the Bombay Stock Exchange (BSE) on Monday. The stock was listed in the exchange
in the list of 'T' Group Securities. Under the scheme of arrangement, the
company was segregated into Future Enterprise, which took the responsibility of
the backend business and Bharti Retail, which takes care of the frontend
business. In May last year, the Future group approved the consolidation and
realignment of its retail operations with Bharti Retail Ltd to form one of the
biggest supermarket chains. In order to streamline the operations resulting
from the consolidation, the respective board of directors had proposed to
demerge the retail business of Future Retail to Bharti Retail and to demerge
the infrastructure business of Bharti Retail to Future Retail. The shares of
the company closed at Rs160.65, up 5.00% on the BSE.
State-run
Rural Electrification Corporation (REC) on Sunday said it will seek the
approval of its shareholders on September 21 for raising Rs50,000 crore through
non-convertible debentures (NCDs). Giving notice of its AGM to be held on
September 21, REC said in a stock exchange filing that it can issue via private
placement unsecured/secured non-convertible bonds/debentures up to Rs50,000
crore during a period of one year from the date of passing of this resolution.
"Consent of the Company be and is hereby accorded to raise funds through
private placement of unsecured/secured non-convertible bonds/debentures upto
Rs50,000 crore during a period of one year from the date of passing of this
resolution, in one or more tranches," the filing said. The REC board had,
earlier this month, cleared the company's fund raising plans. The company’s
shares closed at Rs227.30, down 1.37% on the BSE.
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 on Monday are given in the table
below:The Total Investment & Insurance
Solutions
 |
| Asian Indices (The Total Investment & Insurance Solutions) |
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