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15
March 2018
I had
mentioned in Wednesday’s closing report that Nifty, Sensex might rally. The
major indices of the Indian stock markets were volatile on Thursday and closed
with small losses over Wednesday’s close. On the NSE, there were 964 advances,
540 declines and 65 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
 |
Major Indices (The Total
Investment & Insurance Solutions)
The
market indices have not been able to break out higher and instead have been
under tremendous pressure. It is like that the market would head lower with
Nifty heading towards 10,000. The Total
Investment & Insurance Solutions
The
Finance Ministry has been asked to lower the existing export duty on sugar to
zero in the wake of bumper domestic production this year, Union Food Minister
Ram Vilas Paswan said on Thursday. We have sent our recommendations to the
Finance Ministry three weeks ago for reducing duty," Paswan told reporters
here. At present, there is 20% duty on export of sugar. According to the
industry body Indian Sugar Mills Association (ISMA), sugar production of 295
lakh tonnes is expected this year, which will be over 92 lakh tonnes more than
last year. EID Parry India shares closed at Rs298.55, up 1.91% on the NSE.
Global
software major Infosys on Thursday said it will soon open a technology and
innovation hub in the US state of Connecticut and hire about 1,000 American
workers by 2022. The hiring of Americans is seen as a fall-out of US President
Donald Trump's executive order on H1-B visas in April 2017, as clients in North
America contribute about 60% of the $10.3-billion company's software export
revenue annually. Infosys shares closed at Rs1,182.50, up 0.09% on the NSE.
Private
airline Jet Airways said it will introduce 144 new weekly flights in the first
phase of its upcoming summer schedule. "As part of the new schedule, Jet
Airways will strengthen connectivity between the country's capital and the
Northeastern region via a bouquet of non-stop services including thrice a week
flights to Aizawl and Jorhat and four times a week flights to Silchar from
Delhi," it said in a statement. The carrier would also begin a daily,
non-stop service between Mumbai and Tiruchirappalli, Tamil Nadu, and a new
direct service between Tiruchirappalli and Delhi. Among other destinations, Jet
Airways will also connect Patna with non-stop flights to Mumbai, it said. Jet
Airways India shares closed at Rs721.90, up 0.97% on the NSE.
The
US dollar traded mixed against other major currencies as investors were sifting
through the latest economic data from the country. Advance estimates of US
retail and food services sales for February 2018 came in at $492 billion, a
decrease of 0.1% from the previous month, missing market consensus of a 0.4%
gain, the Commerce Department said on Wednesday. "Retail sales continue to
disappoint, especially the biggest ticket auto and furniture components. GDP
estimates will be revised down again," said Chris Low, chief economist at
FTN Financial, in a note. Meanwhile, the Producer Price Index for final demand
advanced 0.2% in February, seasonally adjusted, in line with market estimates,
the US Labour Department reported. On an unadjusted basis, the final demand
index increased 2.8% for the 12 months ended in February. There are many common
factors between the trends in the US dollar and the Foreign institutional
investors’ net investment in emerging markets like India and there may be a
small pull-out from India, if these trends continue.
The
top gainers and top losers of the major indices are given in the table below: The Total Investment & Insurance Solutions
 |
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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