Nifty, Sensex May be Headed Higher - Monday closing report-The
Total Investment & Insurance Solutions
Contact Your Financial Adviser Money Making MC
31
December 2018
The
major indices of the Indian stock markets were range-bound on Monday and ended
flat. On the NSE, there were 1,129 advances, 643 declines and 114 unchanged.
The trends of the major indices in the course of Monday’s trading are given in
the table below: The Total Investment & Insurance
Solutions
The
last session of 2018's trade ended on a flat note with the Sensex declining 8
points and the Nifty adding just 2 points to its previous close. The indices
however were in the green for the most part of Monday's trade session but were
dragged by weakness in key stocks of sectors like realty, oil and gas and
energy.
The
indices advanced during the afternoon session of trade after opening higher in
line with global markets on Monday over signs of progress in the US-China trade
stand-off. The indices had, however, slipped in the red for a short while --
12-1 p.m. -- as oil and gas and energy stocks witnessed selling pressure.
Finally, by close of trading the major indices ended flat. Asian stocks also
traded in the green after US President Donald Trump said: "Just had a long
and very good call with President Xi of China. Deal is moving along very well.
If made, it will be very comprehensive, covering all subjects, areas and points
of dispute. Big progress being made!" he said. The
Total Investment & Insurance Solutions
The
benchmark Brent Crude price was also flat at $53.21 per barrel ahead of the
OPEC (Oil and Petroleum Exporting Countries) and other oil producers'
production cut which will take effect from January 1. OPEC had earlier said
that they consider the $50-60 per barrel range as stable. Now that Brent crude
price slid below 50, it may be expected that there will be further production
cut, pointed out market analysts. The Indian currency was trading at 69.91 per
dollar after closing at Rs69.94 last week. The Total Investment
& Insurance Solutions
Petrol
prices on Monday declined to their lowest levels of 2018 across the four metro
cities, with the fuel being sold at Rs68.84 per litre in the national capital.
Macro-economic
data points, coupled with Indian rupee's performance against the US dollar will
influence domestic equity market's trajectory during the current week, pointed
out market analysts.
Leading
private insurer SBI Life Insurance on Monday said it has signed a
'bancassurance' pact, with state-run Allahabad Bank to offer a financial
planning solution to consumers. The Total Investment
& Insurance Solutions
The
Central government has decided to infuse Rs10,086 crore into Bank of India. The
bank informed the BSE in a regulatory filing on Saturday that the capital
infusion in its equity will be done by way of preferential allotment. According
to the filing, the bank's board will consider "by way of circular
resolution on or after January 2, 2019 the proposal for raising capital by this
infusion and further issue of equity shares or securities at an appropriate
time and other incidental matters thereat". Bank of India shares closed at
Rs104.05, up 1.07% on the BSE.
Reliance
Jio announced an offer of 100% cashback in the form of coupon for the
e-commerce portal AJIO on recharge of Rs399 during December 28, 2018 to January
31, 2019. Jio has partnered with Reliance Retail's fashion portal AJIO for the
"Jio Happy New Year Offer" and customers can redeem the coupons by
March 15, 2019, Reliance Jio said in a statement. "The coupons can be
redeemed over and above the existing AJIO offers," it said. "AJIO
coupon worth Rs399 will be credited in MyCoupons section of MyJio (app). The
coupon credited can be redeemed on AJIO app and website on minimum cart value
of Rs1,000." Reliance Industries shares closed at Rs1,121.05, down 0.42%
on the BSE.
The
Cabinet Committee on Economic Affairs has approved the listing of six Central
Public Sector Enterprises (CPSE) on the stock exchange through initial public
offerings (IPO) and one Public Sector Undertaking (PSU) through issue of
follow-on public offer (FPO), Union Minister Ravi Shankar Prasad said. The
seven PSUs are Telecommunication Consultants (India) Ltd, RailTel Corporation
India Ltd, National Seed Corporation India Ltd, Tehri Hydro Development
Corporation Ltd, Water and Power Consultancy Services (India) Ltd, FCI Aravali
Gypsum and Minerals (India) Ltd, and Kudremukh Iron Ore Company Ltd (KIOCL).
All PSUs will be listed through the IPO route except KIOCL, which will come out
with an FPO.
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
No comments:
Post a Comment