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13 December 2018
I had mentioned in Wednesday’s closing report that Nifty, Sensex were headed higher. The major indices of the Indian stock markets made a small rally on Thursday and closed with gains over Wednesday’s close. On the NSE, there were 1,017 advances, 671 declines and 374 unchanged. The trends of the major indices in the course of Thursday’s trading are given in the table below: The Total Investment & Insurance Solutions
The market was supported by buying in banking stocks. Sentiments were upbeat as the newly appointed Reserve Bank Governor Shaktikanta Das held a meeting with heads of Mumbai-based public sector banks. The Nifty PSU Bank index gained 1.66%. Banking stocks also rose as RBI is scheduled to purchase government securities and infuse liquidity worth Rs10,000 crore on Thursday. All the sectoral indices on BSE and NSE were in the green. With inflation cooling off, it will give way to interest rate cut. An interest rate cut which will lead to higher lending can be expected, pointed out market analysts.
UK Prime Minister Theresa May won by a large margin a confidence vote by her fellow Conservative members of parliament. The prime minister won the secret vote, which started at 1800 GMT and ended two hours later, with 200 out of 317 Tory MPs supporting her to stay on as the party leader. The Total Investment & Insurance Solutions
Lower food prices eased India's November retail inflation rate to 2.33% from 3.38% in the previous month, while higher manufacturing boosted industrial output growth in October to 8.1%, an official data showed on Wednesday, even as India Inc. welcomed the double bonanza for the economy. On a year-on-year (YoY) basis, the Consumer Price Index (CPI), or retail inflation, fall was even sharper as compared to 4.88% registered in November 2017.
Higher production in the manufacturing sector, especially of capital goods and consumer durables, accelerated the growth of India's industrial output to 8.1% in October from a rise of 4.46% in September and 1.8% during the corresponding period of the previous fiscal, official data showed. The Total Investment & Insurance Solutions
Steel Strips Wheels has bagged an order for 90,000 truck steel wheels for Truck & Trailer Aftermarket in USA to be delivered in four months. The total revenue generated from this order would be over US$ 4 million. The company’s shares closed at Rs965.50, down 1.30% on the BSE. The Total Investment & Insurance Solutions
Ashoka Buildcon emerged as the Lowest Bidder for the Project of Rural Electrification Works of Package-4 in Jharkhand under Jharkhand Sampurna Bijli Achchhadan Yojana (JSBAY) Phase-II. The Bid value of the project is Rs214.21 crore with a completion period of 18 months. The company’s shares closed at Rs131.00, up 0.46% on the BSE.
Sequent Scientific reported that SeQuent Research Limited, a 100% subsidiary of the company has received Establishment Inspection Report (EIR) from USFDA (Food and Drug Administration) for its GLP compliant, Analytical and bio analytical services laboratory at Mangalore. The company’s shares closed at Rs70.60, down 0.77% on the BSE.
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
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| Major Indices (The Total Investment & Insurance Solutions) |
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