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09
April 2018
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 trends of
the major indices in the course of Monday’s trading are given in the table
below: The Total Investment &
Insurance Solutions
 |
Major Indices
(The Total Investment & Insurance Solutions)
IndusInd Bank, Axis Bank,
Asian Paints, Mahindra and Mahindra, and ITC were the top gainers on the BSE.
Top losers on the BSE were Infosys, Tata Motors, Bharti Airtel and ICICI Bank.
On the NSE, BPCL, Hindustan Petroleum and Hindalco led the gainers, while ZEE
Entertainment Enterprises, Vedanta, Tata Motors were among the top losers so
far.
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
Reliance Infrastructure has
received a Rs1,081 crore purchase order from Nuclear Power Corporation of India
Limited (NPCIL) for engineering, procurement and construction (EPC) contract
for Common Services System, Structure & Components (SSC) package and allied
civil works of Unit -3 and 4 of Kudankulam Nuclear Power Project, a company
statement said here on Monday. The contract entails design, engineering,
supply, erection, testing and commissioning of SSC package and allied civil
works on EPC basis. The project is to be commissioned in 56 months, the
statement said. The contract value is inclusive of taxes and duties and also
contains imported component of $23.2 million. EPC division of the
infrastructure major has won the contract amidst competition from leading EPC
players like BHEL, L&T, Tata Projects and BGR. The company’s shares closed
at Rs451.55, up 1.02% on the NSE.
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. S & P Bankex closed at 28,106.36, up 0.90% on
the BSE. The Total Investment &
Insurance Solutions
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. ICICI Bank shares closed at Rs283.00, up 0.84% on the NSE. The Total Investment & Insurance
Solutions
State-run Punjab National
Bank (PNB) on Saturday said that in a move to foil a repeat of the recent
fraud, it has deployed Artificial Intelligence (AI) for reconciliation of
accounts. Addressing its customers through a FAQ document, the fraud-hit bank
said: "PNB has already undertaken measures to strengthen internal audit control
mechanisms. Additionally, the bank is also looking at technology interventions
to enhance customer service and customer responsiveness...." "There
is a move to improve audit systems by incorporating analytics and AI for
reconciliation of accounts. Finacle 10 has been implemented and the bank is
looking at leveraging additional features." On the recent fraud, PNB said
that it has a "zero tolerance to unethical practices within the
system". PNB shares closed at Rs105.10, up 2.89% on the NSE.
The earnings season begins
next week with Infosys being the first large cap company to declare its
quarterly numbers, the numbers will set the tone for the sector. The Q4
earnings result season will kick off from next week. IT major Infosys is
expected to be the first blue-chip firm to come out with its Q4 result on April
13. Apart from the Q4 results, investors will look out for the upcoming
macro-economic data points such as the IIP (Index of Industrial Production) and
the Balance of Trade figures. The Central Statistics Office (CSO) is slated to
release the macro-economic data points of IIP and CPI (Consumer Price Index) on
April 12. On the global front, fears over further imposition of trade
protectionist measures between the US and China can unleash volatility.
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:
 |
Asian Indices
(The Total Investment & Insurance Solutions)
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