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17
April 2018
I had
mentioned in Monday’s closing report that Nifty, Sensex were headed higher. The
major indices of the Indian stock markets were range-bound on Tuesday and
closed with small gains over Monday’s close. On the NSE, there were 915
advances, 810 declines and 324 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)
A
large number of ATMs failed to dispense cash to customers for the second
consecutive day on Tuesday in many cities and towns of Madhya Pradesh,
including state capital Bhopal, putting the common man to inconvenience. A
large number of Automated Teller Machines (ATMs) were empty and there were long
queues at others where cash was still available. On Monday, Chief
Minister Shivraj Singh Chouhan said in Shajapur: "It is a conspiracy.
Certain persons are hoarding Rs2,000 notes to cause a cash crunch. When demonetisation
was announced in 2016, there was Rs15.50 lakh crore in circulation in the
market. Now, this figure is Rs16.50 lakh crore. Where are the notes of Rs2,000
denomination going?" State Finance Minister Jayant Malaya admitted to
currency shortage but maintained that black marketing of Rs2,000 notes could
not be ruled out. Union Finance Minister Arun Jaitley on Tuesday said in Delhi
that "there is more than adequate currency in circulation", though
"unusual demand" had led to cash shortage in some areas. S
& P BSE Bankex closed at 28,399.71, up 0.05% on the BSE.
RBI
Governor Urjit Patel has been called by a parliamentary panel on May 17 to
answer queries on banking frauds and the powers that the central bank needs for
better regulation of public sector banks (PSBs).
India
has produced 299.80 lakh tonne sugar as of April 15 during the current
October-September 2017-18 season, the Indian Sugar Mills Association (ISMA)
said here on Tuesday. "Sugar production in the current season upto April
15, has crossed the expected levels and the Indian sugar industry has already
produced 299.80 lakh tonne," ISMA said in a statement, adding that,
"the actual sugar production upto April 15 is already 50 lakh tonne more
than the estimated sugar consumption for the whole season upto September
30". Out of the total 524 sugar mills which operated in the ongoing
season, 227 were crushing sugarcane as on April 15, it said. The major
producers -- Maharashtra, Uttar Pradesh and Karnataka -- have so far produced
104.98 lakh tonnes, 104.8 lakh tonnes and 36.3 lakh tonnes, the data showed.
EID Parry India shares closed at Rs277.95, down 0.92% on the NSE.
Coal
India Ltd (CIL) on Tuesday said operations were normal in all its subsidiaries
as one of the central trade unions observed a protest demonstration on Monday
against the Centre's move to allow commercial mining. The four central trade
unions -- CITU, BMS, HMS and AITUC -- had served a joint strike notice on March
14 but subsequently, they withdrew the strike which was scheduled for Monday.
CITU was the lone union to head off and called for a protest day against the
commercial mining. "To ensure no loss to production and off-take Coal
India management made elaborate arrangements and a multi-pronged plan was put
into action at all mines of CIL," the miner said in a statement. According
to it, all the subsidiary companies of the miner geared up by setting up
videography and photography arrangements at mine level to identify the persons
taking part in the strike. "The arrangements were so elaborate that the
operations in all the subsidiaries of CIL were normal on Monday except for few
stray incidents where protesters tried to sit on dharna but it did not succeed
and no adverse effect on production related activities was reported
anywhere," the coal behemoth said. Coal India shares closed at Rs287.60,
up 0.03% on the NSE.
India
is engaged with the US in "working out" issues arising from the
latter's protectionist measures last month of raising duties on steel and
aluminium imports, Commerce Minister Suresh Prabhu said on Tuesday. Tata Steel
shares closed at Rs596.05, up 0.61% on the NSE and National Aluminium Company
shares closed at Rs78.10, up 2.01% on the NSE.
An
Australian government study revealed on Tuesday that new migrant arrivals were
benefiting the country's economy, not slowing it down. According to the
Treasury and Home Affairs study, migrants boost the economy by up to 1 per cent
each year, increasing both Australia's overall Gross Domestic Product (GDP) and
GDP per person. It showed skilled migrants were actually adding to Australia's
wealth and were in general not living on welfare or robbing local workers of
jobs. Australia's immigration intake between 2014 and 2015 alone would provide
10 billion Australian dollars ($7.77 billion) to the country's budget over the
next five decades. This is a good sign in times of America tightening its
immigration policies for Indians. This is likely to both improve race relations
and help in foreign institutional investors investing more funds in India.
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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