Contact Your Financial Adviser Money Making MC
27 February 2018
I had
mentioned in Monday’s closing report that Nifty, Sensex would register more
gains. The major indices of the Indian stock markets went up in the intial
period of the sesssion and closed with small losses over Monday’s close. On the
NSE, there were 614 advances, 1,120 declines and 288 unchanged. The trends of
the major indices in the course of Tuesday’s trading are given in the table
below:
 |
Major Indices (The Total
Investment & Insurance Solutions)
According
to market observers, the key indices made gains on the back of an exponential
rise in the US and Asian stock exchanges, however, further disclosure from
Punjab National Bank (PNB), subdued investors' sentiments. Subsequently,
selling pressure was witnessed in banking, capital goods and metals stocks. The
benchmark indices opened higher, following global cues but gave up all gains
after PNB revealed that the amount of fraudulent transactions could be Rs1,300
crore more than the current estimate of about Rs11,400 crore, observed market
analysts. The volatility index, India Vix closed at 13.9225, up 1.66% on the
NSE. The Total Investment & Insurance
Solutions
Following
a late night regulatory filing by Punjab National Bank (PNB) that upped the
fraudulent amount involved in the Nirav Modi-engineered scam to Rs12,600 crore,
the bank's shares nosedived in the bourses on Tuesday. PNB shares closed at
Rs98.35, down 12.11% on the BSE.
The
Income Tax Department said that it has filed six cases for the prosecution of
Rotomac owner Vikram Kothari in connection with the Rs3,695 crore bank loan
default case involving Bank of Baroda. Bank of Baroda shares closed at
Rs141.45, down 1.43% on the NSE.
In
a bid to get more Indians online, Google and telecom services provider Bharti
Airtel on Tuesday announced they were collaborating to introduce low-cost
smartphones powered by Android Oreo (Go Edition) in the domestic market. With
this, India will become one of the first countries to commercially roll-out
smartphones running on Android Oreo (Go) Operating System (OS). 'This
partnership is a major milestone for the 'Mera Pehla Smartphone' initiative. We
are excited to collaborate with Google and our device partners to work towards
bringing smartphones within the reach of more people," Vani Venkatesh,
Chief Marketing Officer, Bharti Airtel, said in a statement. Entry-level
4G smartphones under Airtel's "Mera Pehla Smartphone" programme will
be shipped with Android Oreo (Go) OS starting March 2018. Bharti Airtel shares
closed at Rs431.95, up 2.08% on the NSE. The
Total Investment & Insurance Solutions
The
Andhra Pradesh government signed MoUs worth Rs4,39,765 crore at the CII
Partnership Summit 2018 which concluded at Visakhapatnam. Chief Minister N.
Chandrababu Naidu announced that the government signed 734 MoUs with various
companies. The investment is expected to create 11,02,125 jobs. During the
first two days, agreements worth nearly Rs3 lakh crore of investments were
signed while on the last day, more companies came forward to sign the documents
expressing their willingness to invest over Rs1 lakh crore. Auto, pharma and
healthcare, aerospace and defence, construction, logistics and food processing
are the key sectors which attracted investments. On the last day, Vedanta Group
signed three MoUs to invest Rs21,500 crore. Vedanta Group's Hindustan Zinc Ltd,
Sterlite Power and Sterlite Tech exchanged the MoUs. These agreements are
likely to assist in a long term bullish trend in the Indian stock markets. The Total Investment & Insurance Solutions
Shares
of both ACC Ltd and Ambuja Cements Ltd slipped on Tuesday after they announced
that “there are currently some constraints to implement a merger”. Analysts
said calling off of the merger between ACC and Ambuja Cements will weigh on
investor sentiments. In May 2017, Ambuja and ACC had announced the possibility
of a full merger between both the companies. However, the board instead
approved the sale and purchase of materials and services between Ambuja and
ACC. ACC shares closed at Rs1,632.80, down 1.82% on the NSE. Ambuja Cements
shares closed at Rs252.00, down 4.16% on the NSE.
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) |
No comments:
Post a Comment