Nifty, Sensex may try to move up – Thursday closing report-The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

http://moneymakingaimsee.blogspot.in
https://www.facebook.com/moneymakingmc

22 February  2018

I had mentioned in Wednesday’s closing report that Nifty, Sensex continued to move sideways. The major indices of the Indian stock markets were range-bound on Thursday and closed with small losses over Wednesday’s close. On the NSE, there were 470 advances, 1,021 declines and 72 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 

 

Major Indices (The Total Investment & Insurance Solutions)

The key Indian equity indices closed flat-to-lower on Thursday. 

In an effort to bring global connectivity to consumer electronics and industrial Internet of Things (IoT) devices, Tata Communications on Thursday joined hands with Taiwan's largest mobile network operator Chunghwa Telecom. As part of this partnership, Chunghwa Telecom will tap into additional revenues by connecting IoT devices through Tata Communications' "MOVE-IoT Connect" platform. The "MOVE-IoT Connect" allows IoT devices to be deployed quickly both locally and internationally by leveraging Tata Communications' ecosystem of mobile network operators worldwide. "Our aim is to generate millions of subscriptions from IoT devices in the next three years, and our work with Tata Communications will help us fulfil this ambition," said Ming-Shih Chen, President of Mobile Business Group, Chunghwa Telecom.  "Tata Communications' 'MOVE' will give our customers' IoT services borderless network coverage across 200 countries, ensuring a consistently high-quality and reliable user experience," he added. The company’s shares closed at Rs622.65, down 0.44% on the BSE.

The practice of illegally issuing Letters of Understanding (LoUs) and Foreign Letter of Credits (FLCs) and then rolling them over to favour Nirav Modi and Mehul Choksi groups started in 2008 and continued till these were discovered in January this year, according to CBI officials. The illicit activities resulting in fraud of Rs11,300 crore occurred under the nose of top Punjab National Bank officials but they claimed to be unaware of the scam. PNB shares closed at Rs114.65, down 2.09% on the BSE. The Total Investment & Insurance Solutions

The Odisha Cabinet amended a long-term linkage policy to facilitate Vedanta company to source bauxite from the Odisha Mining Corporation (OMC) to run a refinery and smelter plants in the state. Vedanta shares closed at Rs328.25, up 0.23% on the BSE. The Total Investment & Insurance Solutions

Clarifying on an earlier announcement of halting operations of Indian indices on international bourses, three domestic exchanges -- BSE, NSE and MSEI -- on Wednesday reassured that they will work with all stakeholders to facilitate an orderly transition that is not disruptive. In a joint statement, the three exchanges informed that there have been discussions/ meetings with several exchanges, data vendors, index providers, market participants and investors to provide clarifications related to the earlier announcement. "This is to reassure all stakeholders that the Indian exchanges will work with them to facilitate an orderly transition that is not disruptive to the markets and stakeholders. This engagement with various stakeholders will continue in the coming weeks to address any concerns," said the joint statement. It said the domestic exchanges will continue to work with the regulators to further enhance the attractiveness and competitiveness of the Indian markets for accessing and trading India-related products. On February 9, the three domestic exchanges had announced that they will stop operating their indices on international bourses.

The top gainers and top losers of the major indices are given in the table below: The Total Investment & Insurance Solutions

Top Gainer (The Total Investment & Insurance Solutions)

The closing values of the major Asian indices are given in the table below: The Total Investment & Insurance Solutions

Asian Indices (The Total Investment & Insurance Solutions

Fiscal consolidation: Finance Commission invites suggestions from stakeholders by June 30 -The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

http://moneymakingaimsee.blogspot.in
https://www.facebook.com/moneymakingmc

22 February  2018

 

F.M (The Total Investment & Insurance Solutions)

The N K Singh headed 15th Finance Commission, set up to recommend a fiscal consolidation roadmap for sound management of government finances, has invited suggestions from stakeholders. 

It was set up last November to recommend devolution of shareable central taxes to states and their inter-se distribution. It will submit the recommendations by October 30, 2019. The Total Investment & Insurance Solutions

"The 15th Finance Commission has invited suggestions/views on issues related to the terms of reference from the members of the general public, institutions and organisations," said a statement by the finance ministry. 

The views have to be sent by June 30, 2018. 

The Commission will take into account the Centre and states' responsibility to adhere to appropriate levels of general and consolidated government debt and deficit levels, while fostering higher inclusive growth in the country. 

It will also examine whether revenue deficit grants be provided at all. 

The Commission will review the current status of the finance, deficit, debt levels, cash balances and fiscal discipline efforts of the Union and the States, and recommend a fiscal consolidation roadmap for sound fiscal management. 

Besides, it will look into the impact on the fiscal situation of the Centre of substantially enhanced tax devolution to states following recommendations of the 14th Finance Commission. 

It had suggested raising share of states in central taxes to 42 per cent from 32 per cent, which has been implemented from 2015-16 fiscal. The new panel will also look into the impact of the GST, including payment of compensation for possible loss of revenues for 5 years, and abolition of a number of cesses on the finances of Centre and states. The Total Investment & Insurance Solutions

The Commission's recommendation would be implemented for a period of 5 years commencing April 1, 2020. 

Canada, India committed to diversity, trip yielded $1 bn investment: Trudeau-The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

http://moneymakingaimsee.blogspot.in
https://www.facebook.com/moneymakingmc

22 February  2018

Trip (The Total Investment & Insurance Solutions)

With his first official visit to India yielding bilateral investments worth over $1 billion, Canadian Prime Minister Justin Trudeau on Thursday said that both nations have close bonds owing to their deep and shared commitment to democracy and diversity. The Total Investment & Insurance Solutions

Addressing the India Canada Business Session here jointly organised by Indian industry chambers and the Canada-India Business Couuncil, he said that the experience of diversity enriches societies and helps promote innovation and better decision making. The Total Investment & Insurance Solutions

"This trip has yielded more than $ 1 billion of investment between India and Canada," Trudeau said, adding that he is leading around a 1,000 member delegation to India, including a record number of company representatives.

Trudeau arrived here on Friday on an eight-day visit to India, and has already presided over an Indo-Canadian business meeting in Mumbai.

"This two-way investment will create 6,000 high quality jobs in Canada and many more jobs here (India), as well. The Total Investment & Insurance Solutions

"Both Canada and India are committed to upholding and promoting democracy, and we value diversity and the many strengths it brings to society," he said.

Giving the example of the major Canadian city of Toronto, he said "50 per cent of its population are born outside Canada."

There are 1.2 million people of Indian origin in Canada and around 500,000 of them hail from Punjab. The Total Investment & Insurance Solutions

"The diversities of religion, gender, lived experience..all these enrich us and make us more resilient. The Total Investment & Insurance Solutions

It helps innovation and makes for better-decision making," said the Prime Minister, whose cabinet has four Indian origin ministers, including Sikhs.

"No one can convince me that diversity and innovation are mutually exclusive categories," he added. The Total Investment & Insurance Solutions

Lauding Canada's diversity for being home to "people of my community who have done us proud in your land," Union Food Processing Minister Harsimrat Kaur Badal invited Canadian business to invest in India "to become part of our growth story". The Total Investment & Insurance Solutions

"People of India, and especially of Punjab, welcome you with open arms," she said, referring to Trudeau. The Total Investment & Insurance Solutions

Noting that agriculture and food processing are potentially major areas of Indo-Canadian cooperation, Badal said that bilateral cooperation is already ongoing in creating a cold chain infrastructure in India and setting up mega food parks in the country could be the next area. The Total Investment & Insurance Solutions

After visiting Agra, Ahmedabad and Mumbai, Trudeau visited Amritsar on Wednesday where he, his wife and children prayed at the Golden Temple. He also met Punjab Chief Minister Amarinder Singh.

Bilateral trade between India and Canada stood at $6.05 billion in 2016. The two countries are also working on a Comprehensive Economic Partnership Agreement (CEPA).The Total Investment & Insurance Solutions

German Business Confidence Drops Amid Global, Local Concerns-The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

http://moneymakingaimsee.blogspot.in
https://www.facebook.com/moneymakingmc

22 February  2018

Germany parliament europe (The Total Investment & Insurance Solutions)

German business confidence dropped sharply in February amid increasing concerns about both domestic and international risks.

The Munich-based Ifo Institute said Thursday its business climate indicator fell to 115.4 points in February from 117.6 in January, while noting it remained near historic highs. The Total Investment & Insurance Solutions

ING economist Carsten Brzeski says the figures show concerns about "market turmoil, the political impasse in Berlin and new fears of a protectionist wave from the U.S. as well as the U.S. tax reform" are beginning to take their toll.

Despite the risks, he says "the economy should maintain its strong momentum."

He says company's "order books are still richly filled and the domestic momentum remains strong." The Total Investment & Insurance Solutions

The survey is based on about 7,000 responses from firms in manufacturing, construction, wholesaling and retailing.The Total Investment & Insurance Solutions

Worries About US Rate Hikes Return To Stalk Markets-The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

http://moneymakingaimsee.blogspot.in
https://www.facebook.com/moneymakingmc

22 February  2018

Hong kong financial markets (The Total Investment & Insurance Solutions)

Global stock markets tracked Wall Street lower on Thursday after the minutes to the last meeting of the Federal Reserve policy meeting rekindled fears about the pace of interest rate rises. The Total Investment & Insurance Solutions

KEEPING SCORE: In Europe, the FTSE 100 index of leading British shares was down 1 percent at 7,210 while Germany's DAX fell 0.7 percent to 12,383. The CAC 40 in France was 0.3 percent lower at 5,283. U.S. stocks were poised for a modest recovery on the opening bell, with Dow futures and the broader S&P 500 futures pointing to gains of 0.3 percent.

MEETING MINUTES: The Fed minutes indicated confidence among policymakers about the outlook for U.S. and global economic growth, reinforcing expectations of further interest rate rises this year. Wall Street initially welcomed the report but soon U.S. Treasury yields spiked to their highest level in four years, snuffing out the stock market rally amid renewed worries about rising inflation. Higher yields generally hurt stock prices by making bonds more attractive than equities. Earlier this month, global stock markets, but particularly those in the U.S., suffered big losses amid mounting concerns over the pace of Fed policy tightening.

ANALYST TAKE: "Indices still appear vulnerable to further shocks and the prospect of more aggressive tightening by the Fed may trigger it," said Craig Erlam, senior market analyst at OANDA.

UK SLOWDOWN: British shares underperformed their European counterparts after figures showed the British economy did not grow as strongly as initially thought during 2017 as consumers and businesses were held back by factors related to Brexit. The Office for National Statistics said Thursday that the British economy expanded by a quarterly rate of 0.4 percent, down from the initial estimate of 0.5 percent. The downgrade was largely due to lower than anticipated industrial production. The Total Investment & Insurance Solutions

ASIA'S DAY: Japan's benchmark Nikkei 225 index sank 1.1 percent to close at 21,736.44 and South Korea's Kospi shed 0.6 percent to 2,414.28. Hong Kong's Hang Seng lost 1.5 percent to 30,965.68 but the Shanghai Composite jumped 2.2 percent to 3,268.56, fueled by pent-up demand from investors in mainland China, where markets reopened after a weeklong holiday. Australia's S&P ASX 200 edged up 0.1 percent to 5,950.90. Taiwan's benchmark fell and Southeast Asian indexes were mostly lower.The Total Investment & Insurance Solutions

ENERGY: Benchmark U.S. crude fell 15 cents to $61.52 a barrel in electronic trading on the New York Mercantile Exchange while Brent crude, used to price international oils, lost 3 cents to $65.39 per barrel in London.

CURRENCIES: The euro fell 0.1 percent to $1.2276 while the dollar slid 0.6 percent to 107.07 yen.The Total Investment & Insurance Solutions

Nifty, Sensex continue to move sideways – Wednesday closing report-The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

http://moneymakingaimsee.blogspot.in
https://www.facebook.com/moneymakingmc

21 February  2018

I had mentioned in Tuesday’s closing report that Nifty, Sensex were showing no strength at all. The major indices of the Indian stock markets were range-bound on Wednesday and closed with small gains over Tuesday’s close. On the NSE, there were 561 advances, 915 declines and 53 unchanged. The trends of the major indices in the course of Wednesday’s trading are given in the table below:

 

Major Indices (The Total Investment & Insurance Solutions)

After three consecutive days of losses, the key Indian equity indices traded in the green during the mid-afternoon session on Wednesday riding on broadly positive Asian markets and a surge in IT (information technology) stocks. 

The Central government on Wednesday opposed a public interest litigation (PIL) seeking probe into the role of PNB's top management in the Rs11,300 crore scam and extradition of diamond trader Nirav Modi who is alleged to be involved in it. Also, the CBI (Central Bureau of Investigation) on Wednesday said that it has arrested a General Manager rank officer of the Punjab National Bank in connection with the Rs11,300 crore fraud case. PNB’s shares closed at Rs117.30, down 0.26% on the NSE.

The Income Tax Department raided 20 premises and associated firms in connection with Gitanjali Group in a tax evasion case. The search action were conducted in Mumbai, Pune, Surat, Hyderabad, Bengaluru and few other cities against 13 companies linked to the Gitanjali Group.  Gitanjali's chief Mehul Choksi is under investigation by the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) for allegedly committing fraud amounting to Rs11,300 crore against PNB, whose Letters of Undertaking and Foreign Letters of Credit were illegally used to raise and rollover money.  Choksi, along with other family members are said to have left the country in early January this year. Also, the closure of Gitanjali Gems Park in Hyderabad following the raid by the Enforcement Directorate (ED) in connection with the multi-crore Punjab National Bank (PNB) scam has hit about 600 families and led to protests here on Tuesday.  Gitanjali Gems shares closed at Rs27.40, down 9.87% on the NSE, on Wednesday.

Reliance Jio will invest another Rs10,000 crore in Uttar Pradesh over the next three years, Reliance Industries Limited Chairman Mukesh Ambani said on Wednesday while addressing the Uttar Pradesh Investors' Summit 2018. Reliance Industries shares closed at Rs929.35, up 0.86% on the NSE.

Central trade unions in coal sector opposed opening up of commercial coal mining for private sector after the Union Cabinet approved the methodology for auction of coal mines for sale of coal. Coal India shares closed at Rs310.55, up 0.06% on the NSE.

In the backdrop of several ponzi schemes duping gullible investors surfacing in recent years, the Union Cabinet decided to bring a bill in Parliament to ban unregulated deposit schemes. This is likely to bring more investors to the banking sector and the stock markets and re-inforce the long term bullish trend in the stock markets.

The top gainers and top losers of the major indices are given in the table below:

 

Top Gainer (The Total Investment & Insurance Solutions)

The closing values of the major Asian indices are given in the table below:

 

Asian Indices (The Total Investment & Insurance Solutions)

PM announces Rs 20,000-cr defence industrial corridor in Bundelkhand (Lead)-The Total Investment & Insurance Solutions

Contact Your Financial Adviser Money Making MC

http://moneymakingaimsee.blogspot.in
https://www.facebook.com/moneymakingmc

21 February  2018

Prime Minister Narendra Modi(The Total Investment & Insurance Solutions)

Prime Minister Narendra Modi on Wednesday announced that his government will establish a Rs 20,000-crore defence industrial production corridor in Bundelkhand -- a region divided between Uttar Pradesh and Madhya Pradesh -- that will generate 250,000 jobs and bring development to one of the most impoverished regions of the country.

"I am making an important announcement. In this year's budget, we had announced that we will establish two defence industrial production corridors. One of them will be in Bundelkhand," Modi said addressing the inaugural session of the two-day Uttar Pradesh 'Investors Meet' at the Indira Gandhi Pratishthan in Lucknow.

The government had earlier announced that it would develop two such corridors. The first of the two, announced by Finance Minister Arun Jaitley in his budget speech, is being built between Chennai and Bengaluru - connecting Kattupalli port, Chennai, Tiruchi, Coimbatore and Hosur.

The project, he said, would bring an "investment of Rs 20,000 crore and generate employment avenues for 2.5 lakh people".

The Prime Minister said the decision to come with the defence production corridor to Uttar Pradesh was taken keeping in mind the developmental requirements of Bundelkhand region.

The corridor will link Agra, Aligarh, Lucknow, Kanpur, Jhansi and Chitrakoot.

Modi said Uttar Pradesh had a vast potential for development but needed policy, planning , performance. He lauded the efforts of Chief Minister Yogi Adityanath for setting the state on the path to give a "super hit" performance.

The Prime Minister pointed out how air traffic in the state had grown by 30 per cent in the past one year with just three international airports in Agra, Varanasi and Lucknow.

He said it was more than the national average and indicated a huge potential in the state for civil aviation.

The Prime Minister said more airports will be initiated in multiple parts of the state to realize his dream of "hawai chappal pehne wala bhi, hawa mein udna chahiye".

"New airports will give it (the air traffic in Uttar Pradesh) an additional boost. The state is also home to the largest rail network."

Modi said the Centrally-sponsored Prime Ministerial Kisan Property scheme will reduce crop-grain-fruits and waste of vegetables as the government was also keen on modernizing the entire supply chain and infrastructure for the agri and allied sectors to help in doubling the farmers income by 2022.

He said the initiatives would help the state in particular because it is ranked number one in the country in production of foodgrains, wheat, sugarcane, milk, potato production. It is number two in terms of vegetable production and third in fruit production.

He also called for a storage and marketing grid, underlining how the produce of farmers was wasted in a big way because of lack of facilities.

Modi suggested that local manufacturing units for chips and similar products could minimize the losses inflicted on farmers due to lack of storage and transport facilities.

The investors event organised by the Yogi Adityanath government is aimed to showcase the investment opportunities in the state. Corporate honchos are attending the summit.

Modi also praised the Uttar Pradesh government for curbing red tape and rolling out the red carpet for investors and taking decisions that have linked industrial development with employment generation.

"There is no dearth of resources and opportunities in Uttar Pradesh where you find 'Lucknowi chikankari', Banarsi zardosi', brassware of Moradabad and glassware industries of Firozabad," Modi said.

He called for "inter-linking of expertise and efficiency" and lauded the state government for its innovative 'one district, one product' scheme.

"This is a game changer and I am sure the artisans and industries in places like Firozabad, Mallihabad, Agra, Lucknow and Varanasi will hugely benefit from this."

He also asked the Uttar Pradesh government to compete with Maharashtra in achieving the target of a one trillion dollar economy.

"I set this challenge before Uttar Pradesh to compete with Maharashtra and let us see who will become the first trillion dollar economy," he said.

Urging the states to get into the "spirit of competitive cooperative federalism" and to try and outsmart each other in growth and industrialization indices, he said Uttar Pradesh had advantages in terms of being a favourite investment destination as 60 per cent of the state's population was a working force.

The Prime Minister also launched an integrated digital clearance system portal of the state government which aims to minimize human interface and faster procedures, cut red tape and delays and offer solutions to investors.The Total Investment & Insurance Solutions