Contact Your Financial Adviser Money Making MC
17 December 2018
The major indices of the Indian stock markets rallied on Monday and closed with gains over Friday’s close. On the NSE, there were 979 advances, 748 declines and 350 unchanged. The trends of the major indices in the course of Monday’s trading are given in the table below:
Sensex advanced over 250 points and the Nifty traded over 10,850 on Monday. Finance stocks, the index pivotal, traded higher. Oil and gas metal, power and energy stocks gained over 1%.The Total Investment & Insurance Solutions
The US Federal Food and Drug Administration (FDA) inspected the good manufacturing practices of Biocon's new active pharmaceutical ingredients (API) facility near Hyderabad in Telangana last week, said the biotech firm on Monday and concluded without any observation," said the pharma major in a statement here. Biocon shares closed at Rs634.00, down 2.15% on the NSE.
Buoyed by increasing domestic demand on the back of infrastructural development, state-run National Aluminium Company Ltd (Nalco) plans to embark upon a Rs25,000 crore brownfield and Rs20,000 crore greenfield expansion in the next few years, its Chairman and Managing Director T.K. Chand said, adding this should eventually improve the bottomline by Rs1,100 crore. Nalco shares closed at Rs64.80, up 1.01% on the NSE.
Global cues such as caution ahead of a US interest-rate decision as well as developments surrounding international trade tensions are expected to determine the trajectory of major domestic equity indices. It is expected that the market would continue to track each development related to the trade war, FOMC (the US Fed's Federal Open Market Committee) interest rate meeting and actions of newly appointed RBI governor, pointed out market analysts. Consequently, investors will remain cautious over the possibility of any impending hike in the US interest rates which can potentially drive away Foreign Portfolio Investors (FPIs) from emerging markets such as India. Last week's provisional data from exchanges showed that foreign institutional investors (FIIs) became net sellers, as they off-loaded a total of Rs2,067.19 crore worth of shares. Indices are likely to face renewed pressure after last week's rally. US Fed's interest rate decision is likely to be the key event driving the markets, observed market analysts. Domestic markets are now factoring in a looser monetary policy with the appointment of new RBI governor.
Tamil Nadu Chief Minister K. Palaniswami on Saturday said the state government will go for an appeal against the National Green Tribunal (NGT) order to reopen Vedanta Ltd's copper smelter plant, Sterlite Copper, in Tuticorin. Speaking to reporters in Salem, about 360 km from here, Palaniswami said the state government had ordered the closure of Sterlite plant. "The state government will appeal against the NGT's order," Palaniswami said. On Saturday, the NGT set the stage for reopening of the Vedanta's Thoothukudi-based copper smelting plant by setting aside the Tamil Nadu government's order to close it permanently, and directed the state pollution control body to pass a fresh order allowing renewal of consent for the plant within three weeks. Vedanta shares closed at Rs205.40, up 1.88% on the NSE. The Total Investment & Insurance Solutions
US stocks fell sharply on Friday as investors grew concerns over a possible slowdown of the global economy led by China. The Dow Jones Industrial Average was down 496.87 points, or 2.02%, to 24,100.51. The S&P 500 fell by 50.59 points, or 1.91%, to 2,599.95. The Nasdaq Composite Index was down 159.67 points, or 2.26%, to 6,910.66. The Dow slumped more than 550 points at its low during the session and dived to its lowest close since May. The S&P 500 dipped to its lowest closing level since April. All the 11 primary S&P 500 sectors closed lower, with health and technology down 3.37% and 2.48%, respectively, leading the laggards. After Friday's steep sell-off, the tech-heavy Nasdaq is now just up 0.11% for the year. The Total Investment & Insurance Solutions
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
 |
| Top Gainer (The Total Investment & Insurance Solutions) |
No comments:
Post a Comment