Nifty, Sensex may head higher – Monday closing report-The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

http://moneymakingaimsee.blogspot.in
https://www.facebook.com/moneymakingmc

7 May 2018

The major indices of the Indian stock markets rallied on Monday and closed with gains over Friday’s close. On the NSE, there were 951 advances, 790 declines and 318 unchanged. The trends of the major indices in the course of Monday’s trading are given in the table below:

Broadly positive Asian indices coupled with expectations of healthy quarterly earnings results pushed the key Indian equity indices to trade higher during on Monday. However, gains were capped due to caution over the upcoming assembly polls in Karnataka in the early part of the day. As the day, progressed the rally was clear and the gains were significant. According to market observers, buying was witnessed in consumer durables, metals, automobile and banking stocks.

Other economic data, investors are looking forward to include fiscal deficit data, industrial production data and consumer price index (CPI) data which are to be released during this week.

Former Prime Minister Manmohan Singh on Monday accused the central government of punishing the common man by not passing on the benefits of low petroleum prices internationally to the people here. Indian Oil Corporation share prices closed at Rs164.00, up 1.55% on the NSE.

International oil prices just passed another milestone, jumping above $70 per barrel on Monday for the first time since November 2014, pointed out market observers.

Over 10 lakh bankers in government and private banks will go on a two-day strike by the end of May if the government does not ask the Indian Banks Association (IBA) to make an improved offer, said a leader of the All India Bank Employees Association (AIBEA). "It is a matter of shame that while thousands of crores of rupees are written off from profits towards bad loans of big corporates, the genuine demands of bank employees are being denied in this fashion," C.H. Venkatachalam, General Secretary, AIBEA, said on Sunday. "If the Finance Ministry does not intervene to make the IBA to make their improved offer, it has been decide to call for a 48-hour continuous strike by end of this month," he said. S & P BSE Bankex closed at 28,983.33, up 1.12% on the BSE.

US billionaire investor Warren Buffett said on Saturday that the world depends on the US and China for progress, dismissing concerns that the two countries' trade tensions could potentially escalate into a trade war. This is good news for the long term bullish trends in the Indian stock markets.

Fortis Healthcare on Saturday said that its shareholders have approved a resolution to acquire the "assets of RHT Health Trust". According to a BSE filing, the company said that 98.328% voted for the resolution. Earlier, the company had entered into an agreements with RHT to acquire its assets for Rs4,650 crore. On Monday, Fortis Healthcare shares closed at Rs155.40, down 1.61% on the NSE.

The top gainers and top losers of the major indices are given in the table below:

The closing values of the major Asian indices are given in the table below:

Major Indices (The Total Investment & Insurance Solutions)