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14
March 2018
I had
mentioned in Tuesday’s closing report that Nifty, Sensex were on course to head
higher. The major indices of the Indian stock markets were range-bound on
Wednesday and closed with negligible losses over Tuesday’s close. On the NSE,
there were 876 advances, 829 declines and 315 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)
Weak
cues from the Asian markets, as well as selling pressure in banking, oil and
gas, and auto stocks, pulled the key Indian equity indices lower during the
mid-afternoon trade session on Wednesday. Market observers said the Reserve
Bank of India's (RBI) move to discontinue the system of issuing Letters of
Undertaking (LoUs) by banks for availing trade credits for imports into India
with immediate effect eroded investors' risk-taking appetite.
Top
gainers on the NSE were Tech Mahindra, UltraTech Cement and Ambuja Cement,
while on the declines were Infratel, Bharti Airtel and State Bank of India.
Key
Indian equity indices, which traded in the negative territory during the day
pared some losses to close Wednesday's trade on a flat-to-negative note.
Private
lender Yes Bank announced it has acquired more than 17% share in Fortis
Healthcare, making the bank the largest shareholder in the healthcare major. In
a stock exchange filing, Yes Bank said the 17.31% equity in Fortis has been acquired
in lieu of the default in loan repayment by the promoters of the healthcare
company. "Yes Bank has acquired 89,781,906 equity shares, constituting
17.31% of the paid-up share capital, having nominal value of Rs10 per share of
Fortis Healthcare Ltd, pursuant to invocation of pledge on the said equity
shares subsequent to default by promoters group companies in the credit
facility provided by the Bank," it said. Yes Bank shares closed at
Rs318.90, up 1.85% on the BSE. Fortis Healthcare shares closed at Rs158.75, up
4.10% on the BSE. The Total Investment & Insurance
Solutions
Wholesale
price-indexed (WPI) inflation in India softened during February marginally at
2.48% from 2.84% in the previous month, primarily due to lower fuel and food
prices, official data showed on Wednesday.
According
to a Commerce Ministry release, the WPI inflation in February 2017 was more
than double at 5.1%. Wednesday's wholesale inflation data follows the retail
inflation figures for February released earlier this week, which showed a
slight cooling in the consumer price-indexed (CPI) inflation at 4.4% on the
back of lower food and fuel prices. Retail inflation had climbed over 5% in
January. With inflation figures favourable, the long term bullish trend of the
Indian stock markets is intact. The Total
Investment & Insurance Solutions
HDFC
Bank has disallowed its customers from buying Bitcoins, cryptocurrencies and
virtual currencies through the bank's credit, debit and prepaid cards. HDFC
Bank shares closed at Rs1,865.25, up 0.29% on the BSE.
Two-wheeler
major Hero MotoCorp launched the new Passion PRO and Passion XPRO and announced
the commencement of retail sales of both models across the country. Hero
MotoCorp shares closed at Rs3,635.45, down 1.78% on the BSE. The Total Investment & Insurance Solutions
Reliance
Mutual Fund (MF) has regained its position in the top three mutual fund
companies in February, data from the Association of Mutual Funds in India
(AMFI) showed. There is a shake-up in mutual funds industry as the value of the
underlying stocks has eroded in the recent PNB large-scale fraud. All the major
indices have fallen and the bigger mutual fund houses are doing better than the
smaller ones. 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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