Contact Your Financial Adviser Money
Making MC
The key Indian equity indices traded in the
green on Friday afternoon tracking global markets, supported by buying in
banking, metal and IT (information technology) indices. Both the NSE and BSE
traded on positive notes. On the NSE, there were 835 advances, 878 declines and
331 unchanged.The Total Investment & Insurance Solutions
13
April 2018
I had mentioned in last Friday’s weekly closing
report that Nifty, Sensex might move sideways. The major indices of the Indian
stock markets were range-bound during the week and closed with small weekly
gains on Friday over last Friday’s close. The trends of the major indices in
the course of the week’s trading are given in the table below: The Total Investment & Insurance
Solutions
 |
| Major Indices (The Total Investment & Insurance Solutions) |
The major indices of the Indian stock markets rallied on
Monday and closed with small gains over Friday’s close, as the gains made
earlier in the day were not sustained. On the NSE, there were 1,027 advances,
719 declines and 304 unchanged. The
Total Investment & Insurance Solutions
Oil markets stabilised on Monday after having lost around
2% last Friday as concerns grew over the impact on global growth from an
intensifying trade dispute between the United States and China, as well as
increased U.S. drilling activity. Markets were also eyeing the situation in
Syria after reports - denied by the Pentagon - that U.S. forces had struck a
major air base there, according to Reuters. The Total Investment & Insurance Solutions
China
on Monday hinted it won't push for fugitive Indian jeweller Nirav Modi's
arrest, who is suspected to be in Hong Kong, saying the Chinese autonomous
region has its own set of judicial rules and India can deal with the
authorities directly. A special CBI court here on Sunday issued non-bailable
warrants (NBWs)against diamantaire Nirav Modi and his uncle Mehul Choksi in
connection with Rs13,500 crore Punjab National Bank (PNB) fraud.
The
CBI on Saturday questioned Rajiv Kocchar, brother-in-law of ICICI Bank MD and
CEO Chanda Kochhar, and Mahesh Chandra Pugalia, a close aide of Videocon Group
chief Venugopal Dhoot in connection with a case relating to Rs 3,250 crore loan
to the group in 2012.
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 819
advances, 908 declines and 322 unchanged.
Hopes
over easing of recent global trade protectionist measures aided the key Indian
equity indices to rise during the early-morning trade session on Tuesday
in-line with their Asian peers. According to market observers, there was buying
in metals, banking and capital goods stocks making Indian equities trade in the
green for the fourth consecutive session. US stock futures rallied, Asian
shares bounced and the yen fell on Tuesday as Chinese President Xi Jinping
promised to lower import tariffs on products including cars, observed market
analysts.
Lending
major HDFC said that it has increased its 'Retail Prime Lending Rate' (RPLR) by
20 basis points effective since April 1, 2018. HDFC's 'Adjustable Rate Home
Loans' (ARHL) are benchmarked on RPLR.
Binani Industries, the parent company of insolvent Binani
Cement, informed the National Company Law Tribunal's Kolkata bench that it has
moved the Supreme Court for termination of insolvency proceedings against its
cement manufacturing subsidiary. The
Total Investment & Insurance Solutions
The Union government on Tuesday ordered a probe into an
incident of deplaning of a passenger by IndiGo airline, over his alleged
complaint of mosquitoes in the aircraft.
The Total Investment & Insurance Solutions
The
major indices of the Indian stock markets were range-bound on Wednesday and
closed with marginal gains over Tuesday’s close. On the NSE, there were 612
advances, 916 declines and 50 unchanged.
Airline major Jet Airways said that it will not
participate in the divestment process of national carrier Air India. "We
welcome the government move to privatise Air India. It is a bold step.
"However, considering the terms of offer in the information memorandum and
based on our review, we are not participating in the process," Amit
Agarwal, Deputy CEO and CFO, Jet Airways was quoted in a statement. The
development assumes significance as it comes days after another airline IndiGo
on April 5 had said that it will not bid for Air India under the "current
divestiture plans". The Total
Investment & Insurance Solutions
After the market closed on Wednesday, US President Trump
warned on developments in Syria and America’s planned firm response. President
Donald Trump said relations with Russia are worse than they have ever been and
warned the country to "get ready" because a volley of U.S. missiles
would soon be sent into Syria in response to a suspected chemical weapons
attack, according to Bloomberg Quint. “Russia vows to shoot down any and all
missiles fired at Syria. Get ready Russia, because they will be coming, nice and
new and “smart!,” Trump wrote on Twitter. “You shouldn’t be partners with a Gas
Killing Animal who kills his people and enjoys it!” This international
political turbulence could lead to caution among investors worldwide including
India and there could be bearish trends.
The Total Investment & Insurance Solutions
The
major indices of the Indian stock markets closed with gains over Wednesday’s
close. On the NSE, there were 715 advances, 1,016 declines and 317 unchanged.
There was strong buying witnessed in all software stocks.
The Confederation of Indian Industry (CII) on Thursday
said it expects India's gross domestic product (GDP) to grow at 7.3%-7.7%
during the 2018-19 financial year. "This is based on strengthening demand
in the rural economy, including agriculture and non-farm activities, as well as
better global growth climate," said Rakesh Bharti Mittal, President, CII.
"There are some macro challenges like rising oil prices, but that would be
more than compensated by improving industrial performance," he added. The Total Investment & Insurance
Solutions
State-run
IDBI Bank on Thursday said a Rs3 crore penalty imposed on it by the Reserve
Bank of India (RBI) "will not have any material impact" on it.
According to a BSE filing by IDBI Bank, the RBI imposed a Rs3 crore penalty on
it for non-compliance of 'Income Recognition and Asset Classification' (IRAC)
norms. "This is to inform that the RBI vide letter dated April 10, 2018
has imposed a monetary penalty of Rs 30 million on the bank... for
non-compliance with the directions issued by it on IRAC norms," the filing
made on Thursday said. "It is further clarified that the said penalty will
not have any material impact on the bank."
No comments:
Post a Comment