Regulations: Insurers Need to File Claim Settlement Guarantee

Marketing gimmick needs to be filed with the regulator


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Nifty, Sensex may bounce back – Wednesday closing report

Nifty may rally on Thursday, if overseas markets are firm


We had mentioned in Tuesday’s market report that the indices are headed lower and any rallies will be met with selling. Today’s session was a volatile one with the benchmark trading marginally higher upto around 11.00 am. After this the market went down sharply. The indices moved almost in the red for remaining session and recorded a loss for the third consecutive session. We expect the market to bounce back tomorrow but the gains my not sustain beyond one or two sessions.
The S&P BSE Sensex opened at 26,983 while S&P CNX Nifty opened at 8,119. Sensex moved in the range of 26,776 and 27,052 while Nifty moved in the range of 8,065 and 8,151. Sensex closed at 26,909 (down 79 points or 0.29%) while Nifty closed at 8,102 (down 25 points or 0.31%). NSE recorded a volume of 85.18 crore shares. India VIX rose 4.13% to close at 18.1400.
The Department of Financial Services, Ministry of Finance, said on Tuesday after trading hours that it has issued a circular to the chief executive officers of all public sector banks, financial institutions and insurance companies assuring them of non-interference in matters of commercial decisions, transfers, and postings. Among other things the circular mentioned that the PSBs should take all commercial decisions in the best interest of the organization without any fear or favour.
Bharat Electronics (13.86%) was the top gainer in ‘A’ group on the BSE. The stock hit its 52-week high today. It filed its shareholding pattern as on 31 December 2014 which showed FIIs increasing their shareholding from 1.85% as at the end of September 2014 to 2.31% in December 2014. DIIs increased their holding from 17.76% to 17.82% while retail shareholding reduced from 5.37% to 4.85% for the relevant period.
IRB Infrastructure Developers (4.27%) was among the top three losers in ‘A’ group on the BSE. It recently informed the exchange that as a part of reinvestigation in the matter of land acquisition at Village Taje & Pimploli near Pune, officers from the CBI visited its Pune Office and Registered Office to check records relating to land acquisition.
Hindustan Unilever (3.48%) continued to be the top gainer in the Sensex 30 pack.
Deutsche bank recently upgraded Hindustan Unilever to 'buy' from 'hold'.
ICICI Bank (2.63%) was among the top two losers among the Sensex 30 stocks. The stock hit its 52-week high on Monday.
On Tuesday US indices closed in the red. The US services sector expanded in December at its slowest rate since February as growth in new business and employment declined, an industry report showed yesterday. Markit said the final reading of its Purchasing Managers Index for the service sector was 53.3 in December, down from its flash reading of 53.6 and November's reading of 56.2. Markit's composite PMI, a weighted average of its manufacturing and services indexes, fell to 53.5 in December from a flash reading of 53.8 and 56.1 in November.
Except for KLSE Composite (0.43%) and NZSE 50 (0.06%) all the other Asian indices closed in the green. SET Composite index of Thailand (1.57%) was the top gainer.
European indices were trading in the green. US Futures too were trading higher.
The latest data showed that German retail sales in November rose by 1% in calendar- and inflation-adjusted terms compared with October, while in annual terms they fell by 0.8%.
According to reports Germany is making contingency plans for the possible departure of Greece from the euro zone, including the impact of any run on a bank.


11 Confirmed dead in Paris shooting

The Public Prosecutor said 11 people had been confirmed killed and 5 injured as yet, in shooting at magazine Charlie Hebdo offices


2 masked gunmen entered the offices of French satirical magazine Charlie Hebdo and opened fire today in Paris. 11 people are confirmed to have died while 5 others have been critically injured.


The French satire magazine has been known for its unabashed take on world events and has lampooned world leaders and issues all over the world.


The shooters were reported to be on the run after the shooting and French President Hollande visited the site to deliver a statement of solidarity.


British MP and Foreign Secretary Philip Hammond offered a condemnation of the “apparent terror attack.”


The magazine's office had earlier been fire-bombed for its satirical edition, which was fictionally attributed to the Prophet Muhammad. The last tweet by the magazine was regarding ISIS head Abu-Bakr Al Baghdadi.


Tweet Image below:




Ralph Rau

2 years ago

Why do these peanut brained killers feel they have the official mandate to conduct these executions on behalf of the great prophet.

Why are Sunnis killing Shias in Pakistan and Iraq? How can hatred and intolerance become part of one's faith system?

There is a definite need to regulate what is being printed in (religious) text books, taught in (religious) schools what is being preached by (religious) teachers. Any message of intolerance, hatred and violence must be dealt with sternly by the law.

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