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28 September
2018
I had
mentioned in last week’s closing report that too many negatives had come
together for Nifty, Sensex. The major indices of the Indian stock markets were
range-bound during the week and closed with marginal losses over the previous
close. The trends of the major indices in the course of the week’s trading are
given in the table below:
The
major indices of the Indian stock markets suffered a further correction on
Monday. On the NSE, there were 273 advances, 1,526 declines and 276 unchanged.
Ramco
Systems won an order for Ramco Aviation Suite from multidisciplinary technology
services provider Advanced Global Resources, to track and manage inventory in
real-time, ensuring auditability and accountability for their asset management responsibilities
to the US Army.
L&T
Technology Services has won a 5-year Engineering Content Management (ECM) deal
worth US$ 40 million in Europe. LTI to provide AI & Virtual Reality based
ECM solutions in the Industrial Products space.
The
major indices of the Indian stock markets rallied on Tuesday and closed with
gains over Monday’s close. On the NSE, there were 691 advances, 1,059 declines
and 302 unchanged.
Software
major Infosys said on Tuesday that Australian Military Bank (AMB) in Sydney went
live digitally on the Finacle cloud platform of its subsidiary EdgeVerve
Systems. The bank has been processing about 40,000 mixed transactions per day,
with 22,000 card transactions and nearly 7,000 composite payments transactions
on average per day on the digital platform.
Budget
carrier SpiceJet will commence flight service on the Shirdi-Delhi-Shirdi sector
from October 1, said the airline on Monday. Besides, it will also launch a new
daily direct flight on the Mumbai-Kanpur route from October 8. The airline will
also operate first direct flight on the Mumbai-Jaisalmer route starting October
29 and a third direct flight on Mumbai-Kolkata sector from November 1.
Capcite
Infraprojects received contracts worth Rs674.75 crore. The company secured orders
worth Rs560.90 crore from Glider Buildcon Realtors, a Piramal Group company. It
also received an order worth Rs113.85 crore from Radius Group company.
The
major indices of the Indian stock markets were range-bound on Wednesday and
closed with losses. On the NSE, there were 844 advances, 903 declines and 312
unchanged.
Profit
booking ahead of the September Futures and Options (F&O) expiry subdued the
Indian equity markets on Wednesday. Accordingly, selling pressure was witnessed
in auto, IT (information technology) and FMCG (fast moving consumer goods)
counters.
HCL
Technologies signed a new 5-year infrastructure services contract with Anglo
American, a company headquartered in UK which runs mining operations across
Southern Africa, North and South America and Australia, with a workforce of
69,000 people worldwide.
Torrent
Power emerged as the winning bidder for capacity of 115 MW project in the
E-reverse auction process conducted by SECI for setting-up of 1,200 MW ISTS
connected wind power projects. The bid tariff for capacity addition is Rs2.76 /
kWh.
The
major indices of the Indian stock markets suffered a correction on Thursday and
closed with losses over Wednesday’s close. On the NSE, there were 473 advances,
1,282 declines and 303 unchanged.
The
S&P BSE Sensex closed 218 points down and the NSE's Nifty50 closed lower by
69 points as investors turned cautious ahead of the September futures and
options (F&O) contracts’ expiry. Almost all the sectors led by finance,
banking and capital goods stocks came under selling pressure on Thursday.
However, IT (information technology) stocks gained due to a weakening rupee.
Private
airline SpiceJet on Thursday announced a daily non-stop flight between Delhi
and Hong Kong starting from November 22. The airline would deploy Boeing 737
MAX on the route, SpiceJet said in a statement.
Tata
Power on Thursday said it has signed an MoU with state-run oil marketer
Hindustan Petroleum Corp (HPCL) for setting up electric vehicle (EV) charging
stations at HPCL's retail outlets and other locations across the country.
The
US Federal Reserve has raised its key interest rate by 0.25% for a third time
in 2018 bringing it to the 2-2.25% range. In a statement, following its two-day
meeting in Washington, the Federal Open Market Committee also dropped its
earlier "accommodative" stance on monetary policy. The majority of
Fed members also said they expect another hike in rates before the end of 2018.
The nine-member committee voted unanimously for the hike. In continuing with
its policy of gradual rate rises, the latest one marks the Fed's eighth rate
hike since 2015, indicating its favourable assessment of the US economy. The
Fed statement said that growth and employment gains in the domestic economy
have been strong and inflation has remained near the US central bank's target
of 2%. "The committee expects that further gradual increases in the target
range for the federal funds rate will be consistent with sustained expansion of
economic activity, strong labour market conditions and inflation near the
committee's symmetric 2% objective," the statement said. America's GDP in
the second quarter of 2018 grew at over 4%, while the unemployment rate
continued to stay below 4%. According to Fed projections released after the
meeting, the US economy was expected grow by 3.1% in 2018.
The
key Indian equity indices closed in the red for the third consecutive session
on Friday as the S&P BSE Sensex dropping nearly 100 points. According to
market observers, selling pressure was witnessed in metal and auto stocks.
Take
Solutions's subsidiary Navitas, Inc (USA) has sold off its supply chain unit
namely 'TAKE Supply Chain' in Austin, USA to ESW Capital, LLC, USA for a
consideration of US$ 3.25 million (approx. Rs23.58 crore).
Cochin
Shipyard signed a Memorandum of Understanding with Andaman & Nicobar
Administration for ‘Operation & Maintenance of the Marine Dry-Dock” at Port
Blair. CSL would be assisting in setting up of Ship repair Eco-system,
Augmentation & Modernization of Marine Dockyard and Skill Development &
Training schemes.
Leel
Electricals bagged orders worth Rs7.3 crore from HAL for Design, Development,
manufacturing and Supply of Oil Cooling System including Heat Exchanger. Leel
has been uniquely positioned and is the only Indian company to be technically
qualified on this offering.
Eimco
Elecon entered into a Technology & License Agreement with CZM USA Corp, USA
for design, manufacture and sale of Drilling Rigs, for a term of 10 years, in
various countries except America. It will be benefitting by expanding a new
line of products in long term under this agreement.
Gayatri
Projects has been declared as the lowest bidder for three road projects worth
Rs405 crore, awarded by the Bihar State Road Development Corporation and funded
by Asian Development Bank (ADB).The Total
Investment & Insurance Solutions
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Weekly Indices (The Total
Investment & Insurance Solutions)
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