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14 June 2018
After
trending up for three days, the major indices opened lower on Thursday and
closed with losses. On the NSE, there were 787 advances, 918 declines and 354
unchanged. The trends of the major indices in the course of Thursday’s trading
are given in the table below: The Total
Investment & Insurance Solutions
The
key Indian equity indices closed in the red on Thursday as weak global indices
and profit booking dented investors sentiments.The slide in key indices --
S&P BSE Sensex and NSE Nifty50 -- snapped their three-day gaining streak
after the US Federal Reserve hiked its benchmark interest rates. According to
market observers, heavy selling pressure was witnessed in the IT, consumer
durables and capital goods stocks. The Sensex touched a high of 35,749.88
points and a low of 35,488.55 points during the intra-day trade. The BSE market
breadth was tilted towards the bears with 1,395 declines against 1,232 advances.
A
major spurt in food and fuel prices in the country pushed the wholesale price
index (WPI) for May to 4.43 percent, to nearly double over the 2.26 percent
registered in May last year and higher than the 3.18 percent recorded in April,
2018, Commerce Ministry data showed on Thursday. Earlier this week, Central
Statistics Office data showed that the consumer price index (CPI), or retail
inflation, in May had touched 4.87 percent.
Citing
risks to inflation mainly from rising global crude prices, the Reserve Bank of
India (RBI) last week raised its key lending rate by 25 basis points to 6.25
percent for the first time in over four years. The RBI has a median retail
inflation target rate of 4 per cent. The Total
Investment & Insurance Solutions
Lending
major ICICI Bank on Wednesday said that its Board has approved the sale of up
to 2% in the joint venture, ICICI Prudential Life Insurance, in one or more
tranches. The bank, in a BSE filing, said that the sales can be carried out
"in any manner permissible under applicable law, including through an
'offer for sale by promoters through stock exchange mechanism'".
Non-banking
financial companies (NFBCs) need to focus more on medium and small enterprises,
the returns from which are much higher than from large corporates to whom NBFCs
have much larger exposure, the Reserve Bank of India (RBI) said on Wednesday.
The RBI also asked NBFCs to meet the legitimate funding needs of the micro,
small and medium enterprises (MSMEs). "NBFCs are trying to be the mirror
image of banks, as much of your lending now is towards large corporate and your
lending to MSMEs is not much, where you get better margins," RBI Chief
General Manager (department of non-banking supervision) P. Vijaya Kumar said at
an event here organised by the Indian Merchant Chamber.
The
Enforcement Directorate (ED) has requested the Interpol to issue Red Corner
Notice (RCN) against absconding diamentiare Nirav Modi in connection with its
probe into the Rs 13,500 crore Punjab National Bank (PNB) fraud case, agency
sources said. An ED source said that the financial probe agency has written to
the Interpol requesting to issue the RCN, a request to locate and provisionally
arrest an individual pending extradition. It is issued by the General
Secretariat at the request of a member country or an international tribunal
based on a valid national arrest warrant. The agency's move comes in the wake
of the charge sheet it filed against 23 people including Nirav Modi in a
special court in Mumbai.
The
top gainers and top losers of the major indices are given in the table below: The Total Investment & Insurance Solutions
The
closing values of the major Asian indices are given in the table below:The Total Investment & Insurance Solutions
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Major Indices (The Total
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