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05
September 2018
I had
mentioned in Tuesday’s closing report that Nifty, Sensex continued to be under
pressure. The major indices of the Indian stock markets were range-bound on
Wednesday and closed with losses over Tuesday’s close. On the NSE, there were
625 advances, 1,125 declines and 321 unchanged. The trends of the major indices
in the course of Wednesday’s trading are given in the table below:
Amid
further fall in the rupee and weak global markets, the key Indian equity
indices pared all its initial gains made during the morning session to trade in
the red on Wednesday afternoon. The benchmark S&P BSE Sensex lost over 200
points to trade below the psychological mark of 38,000 points. According to
market observers, selling pressure was witnessed in consumer durables, banking
and capital goods stocks. Globally, markets broadly traded on a negative note
due to the persistent trade tensions. The Total
Investment & Insurance Solutions
Weak
demand conditions decelerated the growth of India's service sector in August, a
key economic data point showed on Wednesday. Accordingly, the seasonally
adjusted Nikkei India Services Business Activity Index dipped from 54.2 in July
to 51.5 in August. Consequently, the headline seasonally adjusted Nikkei India
Composite PMI Output Index which fell to 51.9 in August from July's 21-month
high of 54.1, driven by weaker growth in both the manufacturing and service
sectors. An index reading of above 50 indicates an overall increase in economic
activity and below 50 an overall decrease.
Reliance
Infrastructure's credit profile has improved with debt liability payoffs.
Ratings agency Crisil has withdrawn its 'D' ratings for the NCDs
(Non-Convertible Debenture) of the company totalling to Rs710 crore. "The
company has repaid the NCDs from the funds received from the sale of Integrated
Mumbai Distribution Business to Adani Transmission," Reliance
Infrastructure (RInfra) said in a statement. "The company had informed the
NCD holders that they would be paid out of the proceeds of the
transaction." Earlier, Brickwork Ratings (BWR) had also withdrawn its 'D'
rating for the NCDs amounting to Rs418.70 crore and BWR 'C' for the NCD
amounting to Rs50 crore of Reliance Infrastructure. Reliance Infrastructure
shares closed at Rs478.25, up 5.50% in the BSE.
SpiceJet
announced the launch of its operations for a daily direct flight on the
Delhi-Kishangarh-Delhi sector from October 8. The marble city of Kishangarh in
Rajasthan, marks SpiceJet's eighth destination under the regional connectivity
scheme. The airline was awarded the route under Ude Desh ka Aam Naagarik (UDAN
II). The new daily flight will provide pilgrims and tourists much better access
to Ajmer and Pushkar. SpiceJet shares closed at Rs75.45, down 3.82% on the BSE. The Total Investment & Insurance Solutions
Centrum
Financial Services Ltd, the NBFC arm of the Centrum Group, signed an agreement
to acquire L&T Finance's Supply Chain Finance business. The business has a
loan book of approximately Rs800 crore with a combined customer base of 800
(approx). L&T Finance Holdings shares closed at Rs165.95, down 1.95% on the
NSE.
Cadila
Healthcare - Zydus has received final approval from the USFDA (US Food and Drug
Administration) for Acyclovir Sodium Injection, an equivalent drug to US RLD -
Zovirax. Acyclovir is an antiviral drug used to treat severe infections caused
by herpes viruses. Cadila Healthcare shares closed at Rs404.00, up 2.92% on the
NSE. The Total Investment & Insurance
Solutions
Strides
Shasun's subsidiary in Singapore, Strides Pharma Global Pte. Limited has received
USFDA approval for Potassium Chloride Extended Release Tablets USP. The drug is
used to treat patients with hypokalemia. Strides Pharma Science shares closed
at Rs489.00, up 1.90% on the NSE.
Mcnally
Bharat Engineering has received one order valued at Rs107.97 crore from NLC
India for the work of construction of 544 nos of colony houses and community
hall including internal Electrification at Khinda, Odisha. Mcnally Bharat
Engineering shares closed at Rs38.95, up 4.99% on the NSE.
Goldiam
International has received export orders worth Rs140 crore from its
International clients for manufacturing of diamond studded designed gold
jewellery. The order was to be delivered within three months. Goldiam
International shares closed at Rs81.50, up 4.42% 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: The Total Investment & Insurance Solutions
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Major Indices (The Total
Investment & Insurance Solutions)
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