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28
November 2018
I had
mentioned in Tuesday’s closing report that Nifty, Sensex could log more gains.
The major indices of the Indian stock markets rallied on Wednesday and closed
with gains over Tuesday’s close. On the NSE, there were 593 advances, 1,131
declines and 340 unchanged. The trends of the major indices in the course of
Wednesday’s trading are given in the table below:
The
benchmark S&P BSE Sensex advanced 200 points on Wednesday, extending its
third straight session of gains led by strong gains in the IT (information
technology) stocks. In addition, the markets also took cues from an
appreciating rupee and retreating foreign fund inflow as India's macro-economic
conditions improved largely owing to declining crude oil prices. However, the
Brent Crude prices logged a slight increase which comes ahead of the OPEC
(Organisation of Petroleum Exporting Countries) meeting next week. The
benchmark crude price traded at $61 a barrel. The local currency strengthened
to Rs70.66 against a US dollar from its previous close of 70.76. IT stocks led
the gains on Sensex, followed by Teck (technology, entertainment and media). In
contrast, healthcare, oil and gas stocks witnessed selling pressure.
Appearing
before the Parliamentary Standing Committee on Finance, RBI (Reserve Bank of
India) Governor Urjit Patel said that the effect of demonetisation was
temporary while he will respond to issues related to the RBI's autonomy and
reserves in the next 10 to 15 days in the midst of differences with the
government.
YES
Bank's foreign currency issuer ratings have been downgraded to Ba1 from Baa3 by
Moody's Investors Service. The outlook, where applicable, has been changed to
negative from stable. YES Bank’s shares closed at Rs162.00, down 11.31% on the
NSE.
Cadila
Healthcare reported that Zydus Cadila has received final approval from the
USFDA (Food and Drug Administration) to market Baclofen Tablets (US RLD-
Lioresal®). Baclofen is used to treat muscle spasms caused by certain
conditions such as multiple sclerosis, spinal cord injury/ disease. Cadila
Healthcare shares closed at Rs342.65, down 0.90% on the NSE.
Orient
Electric has entered into a strategic partnership with De'Longhi Group, Italy
for launching three international premium small appliances brands in India -
De'Longhi, Kenwood and Braun. Orient Electric will have exclusive rights to
market and sell these brands in India. Orient Electric shares closed at
Rs140.50, down 1.92% on the NSE.
Atul
Auto has signed the term-sheet with JBM Industries for entering into a JV
(joint venture) Agreement to expand/develop the business of 3-Wheeler Electric
Autos with the blend of respective expertise. The existing company Atul Green
Automotive will be utilised for this purpose. Atul Auto shares closed at
Rs333.35, down 0.89% on the NSE.
Majesco
reported that Majesco USA has entered into a SPA for acquiring 100% equity
holding in Exaxe Holdings. It has paid the sellers EUR 6.39 Mn for 90% and it
has agreed to pay EUR 0.72 Mn for balance 10% by Aug-19. Exaxe is a SaaS
solutions provider for life, pension & wealth management products. Majesco
shares closed at Rs474.00, up 0.20% on the NSE.
Dr
Reddy's launched Chlorthalidone Tablets USP in the US markets. The drug is a
generic version of Hygroton (chlorthalidone) Tablets, approved by the U.S. FDA.
Dr Reddy’s Laboratories shares closed at Rs2,572.35, down 0.63% on the NSE.
Capacite
Infraprojects has received maiden order from BSNL (Bharat Sanchar Nigam
Limited) for a total contract value of Rs335.38 crore for construction of
buildings for Unified Network Management System. Capacite Infraprojects shares
closed at Rs234.50, up 2.56% on the NSE.
Apollo
Hospitals has joined hands with Kerala's Adlux Group to develop a 250-bedded
super-speciality hospital in the suburb of Kochi. Apollo Hospitals Enterprise
shares closed at Rs1,229.65, down 0.29% on the NSE.
Automobile
manufacturer Maruti Suzuki India announced that its premium hatchback Swift has
registered the two million sales landmark since its first launch in May 2005.
At the same time, Maruti Suzuki increased production of iconic Swift by 45 per
cent to 1.39 lakh units during April-October 2018-19, as against previous year.
This has helped us delight our customers by reducing the waiting period of the
car." Maruti Suzuki shares closed at Rs7,550.20, down 1.27% 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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