Nifty, Sensex may try to move up – Thursday closing report-The
Total Investment & Insurance Solutions
Contact Your Financial Adviser Money Making MC
22
February 2018
I had
mentioned in Wednesday’s closing report that Nifty, Sensex continued to move
sideways. The major indices of the Indian stock markets were range-bound on
Thursday and closed with small losses over Wednesday’s close. On the NSE, there
were 470 advances, 1,021 declines and 72 unchanged. The trends of the major
indices in the course of Thursday’s trading are given in the table below:The Total Investment & Insurance
Solutions
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Major Indices (The Total
Investment & Insurance Solutions)
The
key Indian equity indices closed flat-to-lower on Thursday.
In
an effort to bring global connectivity to consumer electronics and industrial
Internet of Things (IoT) devices, Tata Communications on Thursday joined hands
with Taiwan's largest mobile network operator Chunghwa Telecom. As part of this
partnership, Chunghwa Telecom will tap into additional revenues by connecting
IoT devices through Tata Communications' "MOVE-IoT Connect" platform.
The "MOVE-IoT Connect" allows IoT devices to be deployed quickly both
locally and internationally by leveraging Tata Communications' ecosystem of
mobile network operators worldwide. "Our aim is to generate millions of
subscriptions from IoT devices in the next three years, and our work with Tata
Communications will help us fulfil this ambition," said Ming-Shih Chen,
President of Mobile Business Group, Chunghwa Telecom. "Tata Communications'
'MOVE' will give our customers' IoT services borderless network coverage across
200 countries, ensuring a consistently high-quality and reliable user
experience," he added. The company’s shares closed at Rs622.65, down 0.44%
on the BSE.
The
practice of illegally issuing Letters of Understanding (LoUs) and Foreign
Letter of Credits (FLCs) and then rolling them over to favour Nirav Modi and
Mehul Choksi groups started in 2008 and continued till these were discovered in
January this year, according to CBI officials. The illicit activities resulting
in fraud of Rs11,300 crore occurred under the nose of top Punjab National Bank
officials but they claimed to be unaware of the scam. PNB shares closed at
Rs114.65, down 2.09% on the BSE. The Total
Investment & Insurance Solutions
The
Odisha Cabinet amended a long-term linkage policy to facilitate Vedanta company
to source bauxite from the Odisha Mining Corporation (OMC) to run a refinery
and smelter plants in the state. Vedanta shares closed at Rs328.25, up 0.23% on
the BSE. The Total Investment
& Insurance Solutions
Clarifying
on an earlier announcement of halting operations of Indian indices on
international bourses, three domestic exchanges -- BSE, NSE and MSEI -- on
Wednesday reassured that they will work with all stakeholders to facilitate an
orderly transition that is not disruptive. In a joint statement, the three
exchanges informed that there have been discussions/ meetings with several
exchanges, data vendors, index providers, market participants and investors to
provide clarifications related to the earlier announcement. "This is to
reassure all stakeholders that the Indian exchanges will work with them to
facilitate an orderly transition that is not disruptive to the markets and
stakeholders. This engagement with various stakeholders will continue in the
coming weeks to address any concerns," said the joint statement. It said
the domestic exchanges will continue to work with the regulators to further
enhance the attractiveness and competitiveness of the Indian markets for
accessing and trading India-related products. On February 9, the three domestic
exchanges had announced that they will stop operating their indices on
international bourses.
The
top gainers and top losers of the major indices are given in the table below: The Total Investment & Insurance Solutions
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| 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
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| Asian Indices (The Total Investment & Insurance Solutions |
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