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04 October
2018
I had
mentioned in Wednesday’s closing report that Nifty, Sensex were again under
bear attack. The major indices of the Indian stock markets suffered a
sharp correction on Thursday and closed with losses over Wednesday’s close. On
the NSE, there were 445 advances, 1,323 declines and 295 unchanged. The trends
of the major indices in the course of Thursday’s trading are given in the table
below:
The
S&P BSE Sensex, plunged over 800 points on Thursday, as a steady decline in
the domestic currency and concerns that the central bank would raise the policy
interest rate soured investor sentiments. The wider Nifty50 of the National
Stock Exchange also lost 240 points. The Indian rupee earlier on Thursday sunk
to its fresh low of 73.77 to a dollar, as global crude oil prices continued to
climb. India imports nearly 80% of its crude requirements, and a higher price
will potentially worsen the current account deficit of Asia's third-largest
economy. The Reserve Bank of India will unveil its monetary policy on Friday,
where it is likely to raise the repurchase rate by 25 basis points. The repo
rate currently stands at 6.5%.
Global
software major Tata Consultancy Services (TCS) on Thursday said it signed a
Memorandum of Understanding (MoU) with the Institute of Industrial Science
(IIS) at University of Tokyo to collaborate on technology research and
facilitate inter-personnel exchange. Tata Consultancy Services shares closed at
Rs2,063.00, down 4.62% on the NSE.
State-run
ONGC has awarded a major work package worth Rs11,740.86 crore ($1,694.45
million) to a consortium of companies for integrated development of
"KG-DWN-98/2" project located on the East Coast. According to the
company, the consortium of BHGE, McDermott and L&T hydrocarbon has been
awarded the contract. "This tender is one of the biggest integrated
tenders awarded globally in recent years," the company said in a statement
on Wednesday. "ONGC envisages commencement of first gas production by
December 2019, first oil by March 2021 and overall project completion by August
2021." ONGC shares closed at Rs163.35, down 9.98% on the NSE.
NBCC
has received LoA (Letter of Assurance) worth Rs400 crore (approx.) from IIM
Ranchi to provide Project Management Consultancy for development of permanent
campus (Phase-1 works). NBCC (India) Limited shares closed at Rs56.20, down
2.43% on the NSE.
L&T
Hydrocarbon Engineering in consortium with Baker Hughes, a GE company and
McDermott International, Inc. has been awarded the subsea contract for ONGC's
(Oil and Natural Gas Corporation) largest deep-water oil & gas project -
'Development of block DWN-98/2 in the Krishna Godavari basin'. Larsen &
Toubro shares closed at Rs1,256.00, up 0.85% on the NSE.
GMR
Infra has emerged as the highest bidder for the Development, Operations and
Management of Dr Babasaheb Ambedkar International Airport, Nagpur on a Public
Private Partnership (PPP) basis. GMR Infrastructure shares closed at Rs16.15,
down 3.29% 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:
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Major Indices (The Total
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