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8 June
2018
I had
mentioned in last week’s closing report that Nifty, Sensex might trend higher.
The major indices of the Indian stock markets staged a small weekly rally and
closed with minor 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
The
major indices of the Indian stock markets opened lower over on Monday and
closed with loss over Friday’s close. On the NSE, there were 310 advances,
1,444 declines and 312 unchanged. Buying was observed in capital goods, banking
and oil and gas stocks. The Total Investment
& Insurance Solutions
The
Supreme Court on Monday said that Binani Cement's Committee of Creditors (CoC)
is not debarred from considering the revised Ultratech bid to acquire the
beleaguered company but restrained it from taking a final decision. Refusing to
debar the CoC from carrying on with further proceedings, which would be subject
to the orders of the court, a vacation bench of Justice Adarsh Kumar Goel and
Justice Ashok Bhushan, however, said that "no final order may be
passed". "In the meantime, no final order may be passed. This order
will not debar further proceedings subject to orders of this Court," said
the order passed by the bench on Monday. The
Total Investment & Insurance Solutions
The
court also issued notice to Ultratech Cement and others on the plea by the
Dalmia Bharat Group's Rajputana Properties Private Ltd (RPPL) challenging the
Kolkata NCLT order asking the CoC to consider revised bid by Ultratech Cement.
The Kolkata Bench of NCLT had in early May asked the CoC to consider revised
bid by Ultratech Cement. Ultratech's revised bid is more than Rs 1,000 crore
higher than the one offered by the RPPL. The court directed the next hearing of
the matter on July 2.
The
major indices of the Indian stock markets continued its decline on Tuesday and
closed with losses over Monday’s close. On the NSE, there were 328 advances,
1,422 declines and 302 unchanged.
Broadly
negative global cues along with caution ahead of the RBI's monetary policy
review depressed the key Indian equity indices on Tuesday. According to market
observers, selling pressure was witnessed in the capital goods, consumer durables
and IT (information technology) stocks. State-run copper producer Hindustan
Copper Limited (HCL), which is focusing on exploration in order to assess
copper reserve in its mines, on Tuesday said it is expecting its turnover to
cross Rs2,000 crore in the current fiscal, an official said on Tuesday.
IndusInd
Bank Ltd on Tuesday said it has received a 'no-objection' from National Stock
Exchange (NSE) and BSE for merger of Bharat Financial Inclusion Ltd with
itself. The Total Investment & Insurance
Solutions
The
Enforcement Directorate (ED) on Tuesday questioned former Finance Minister P.
Chidambaram here in a probe into the FIPB's approval to the Aircel-Maxis deals.
Chidambaram appeared at the ED's office around 11 a.m. -- within an hour after
a city court extended the interim protection to him from arrest till July 10 in
connection with the case after directing him to join the probe whenever
required. It was the first time when the senior Congress leader joined the
probe in the case. The questioning is part of ED investigation in a money
laundering case registered in 2017 against Chidambaram's son Karti Chidambaram
in the Aircel-Maxis case. The Total
Investment & Insurance Solutions
The
major indices of the Indian stock markets gained on Wednesday as the Reserve
Bank of India (RBI) came out with its second bi-monthly monetary policy review
where it has decided to raise the repo rate by 25 basis points. Investors' risk
taking appetite was enhanced after the Reserve Bank of India maintained its
"neutral" stance on future rate hike trajectory. Following a cycle of
rate cuts begun in January 2015, the RBI on Wednesday raised its key interest
rate for the first time by 25 basis points (bps) to 6.25%, responding to
concerns on inflation from surging global crude oil prices, as per a central
bank announcement.
The
major indices of the Indian stock markets rallied on Thursday and closed with
gains over Wednesday’s close. On the NSE, there were 1,377 advances, 363
declines and 316 unchanged. Telecom service provider Bharti Airtel on Thursday
announced that its direct-broadcast satellite service "Airtel TV"
application has been downloaded by more than 50 million Android device users.
Giving significant relief to home buyers, President Ram Nath Kovind on
Wednesday gave assent to the ordinance amending the Insolvency and Bankruptcy
Code (IBC) to recognise their status as financial creditors.
On
Friday, the major indices of the Indian stock markets were range-bound and
ended flat over Thursday’s close. On the NSE, there were 974 advances, 740
declines and 346 unchanged.The Total
Investment & Insurance Solutions
 |
Weekly Indices (The Total
Investment & Insurance Solutions)
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