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21
March 2017
The
major indices of the Indian stock markets suffered a sharp correction on
Wednesday and closed with losses of around 1% over Tuesday’s close. The trends
of the major indices in the course of Wednesday’s trading are given in the
table below: The Total Investment & Insurance
Solutions
 |
Major Indices (The Total
Investment & Insurance Solutions)
Indian
equity markets slipped during the mid-afternoon trade session on Wednesday as
negative global cues and selling pressure in automobile, consumer durables and
banking stocks subdued investors' sentiments. Growing concerns over US
President Donald Trump's ability to implement his economic policies spooked the
global markets. The US stocks slipped over 1.14-1.83% on Tuesday, following
which almost all major Asian indices traded deeply in the red early on
Wednesday. On the NSE, there were 400 advances, 1,070 declines and 56
unchanged. On the BSE, there were 970 advances, 1,837 declines and 195
unchanged.
The
CBI (Central Bureau of Investigation) has arrested two senior State Bank of
India (SBI) officials for misappropriating funds of around Rs12.40 lakh by
violating the RBI (Reserve Bank of India) guidelines imposed during
demonetisation, an official said on Wednesday. Senior Special Assistant M. Sultan
Mohiuddin and Deputy Manager (Operations) I.J. Raja Sekhar, employed at SBI's
Buchireddypalem branch in Andhra Pradesh's Nellore district, were held during a
raid conducted at their official and residential premises on Tuesday. The
Central Bureau of Investigation also recovered several incriminating documents.
A CBI official said the bank officials were booked for criminal conspiracy,
cheating, criminal breach of trust and under the Prevention of Corruption Act. The Total Investment & Insurance Solutions
Coal
India Ltd (CIL), which contributes 84% of the country's production, is likely
to end the current fiscal with a shortfall against its annual production target
for 2016-17, analysts and industry stakeholders say. They, however, predicted
that the production and sales are expected to achieve "marginal
growth" over the last fiscal. During 2016-17, the miner set a target of
producing 598.61 million tonnes (mt) of coal with an 11.11% growth over the
538.75 mt produced in 2015-16. Its sales were at 534.50 mt in the last fiscal.
"Coal India is expected to end the year with an around 550 million tonnes
of production, thereby missing the annual target by 40-50 million tonnes. The
miner needs to produce about 90 million tonnes in March to touch even 570-578
million tonnes as envisaged by the Coal Ministry. This is quiet unlikely,"
said market analysts. So far, the average monthly production in the current
fiscal is around 45 million tonnes, he said. "Production has been impacted
due to lower dispatch. Higher production without growing dispatch will add more
to inventories and off-take growth till February was around 1.6% and I don't
think it would change significantly in March," he said. CIL shares closed
at Rs292.15, up 0.14% on the NSE. The Total
Investment & Insurance Solutions
Tokyo
shares tumbled on Wednesday on concerns over implementation of US President
Donald Trump's economic policies and reports on North Korean missile launches.
The 225-issue Nikkei Stock Average shed 390.51 points, or 2.01 per cent, from
Tuesday to 19,065.37. Decliners were led by insurance, securities and marine transportation
issues.
US
stocks reversed early gains to end sharply lower on Tuesday, amid growing
concerns over US President Donald Trump's ability to implement his economic
policies. The Dow Jones Industrial Average dropped 237.85 points, or 1.14%, to
20,668.01. The S&P 500 lost 29.45 points, or 1.24%, to 2,344.02. The Nasdaq
Composite Index plunged 107.70 points, or 1.83%, to 5,793.83. Worries about the
country's health care reform weighed on the market as House Republicans are
expected to vote on repealing and replacing the Affordable Care Acton (ACA)
Thursday. Analysts thought that the enthusiasm has come off the boil as a lot
of Trump policies got mired in legislative process.
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: The Total Investment & Insurance Solutions
 |
| Asian Indices (The Total Investment & Insurance Solutions) |
