We had mentioned in last week’s closing report that Nifty, Sensex showed no trend. The major indices rallied during the week. The trends of the major indices in the course of the week’s trading was:
On Monday, the major indices opened high and closed with major gains. On the NSE, there were 1,111 advances, 703 declines and 347 unchanged. The benchmark equity index Sensex on Monday logged fresh all time high of 40,846 in line with firm global markets over reports that US and China may soon reach a trade deal ending their 16-month-long costly trade war.
Bombay Stock Exchange will start a non-competitive bidding facility in State Development loans (SDLs) which will enable the retail investors to participate in these auctions through an online registration process.
DCB Bank has clarified in reference to recent news articles related to Karvy Stock Broking Limited. As of now the bank has non-funded exposure of Rs30 crores in the form of bank guarantees issued on their behalf. The bank guarantees are secured by 50% cash margin in the form of term deposits.
On Tuesday, the major indices opened high but wiped out all gains and closed with losses. On the NSE, there were 855 advances, 928 declines and 361 unchanged.
The benchmark Sensex on Tuesday surpassed the 41,000 mark during the early trade and touched a life time high of 41,120.28, but ended lower.
State run MTNL does not have any liability pending on account of the AGR revenues unpaid to the Department of Telecom (DoT) as it operates through a separate subsidiary and its mobile service dues have already been paid under the AGR.
Leading bike maker Bajaj Auto announced an investment of $8 million in Bengaluru-based bike-sharing platform Yulu to boost electric vehicle adoption in India. The fresh round of investment will be utilised for further strengthening of the mobility platform and deepening of the technology solutions for rapid expansion, Yulu said.
Shares of Zee Entertainment tanked 9% on the bourses after Subhash Chandra quit as chairman. Subhash Chandra announced late on Monday that he would step down as Zee's chairman. Last week, major global investors had invested in Chandra-led Essel Group's stake sale of 16.5% in Zee, after the promoters of the company decided to sell major portions of its stake.
On Wednesday, the major indices opened high and ended with gains. On the NSE, there were 912 advances, 876 declines and 352 unchanged. The Indian equity markets opened higher led by gains in banks and financial service stocks.
The board of directors of Yes Bank may consider fund raising through issue of fresh equity. The bank had earlier announced that it had received a binding offer from a global investor for an investment of $ 1.2 billion.
CreditAccess Grameen has agreed to acquire 76.2% of Madura Micro Finance from its existing shareholders. The price to be paid for acquisition is Rs1,216.16 per share, aggregating to Rs666.4 crore.
Ashok Leyland has bagged an order from Tamil Nadu State Transport Undertakings for 1750 buses. This order comes closely on the back of orders received from various state transport undertakings recently.
On Thursday, the major indices were volatile and closed with gains. On the NSE, there were 968 advances, 865 declines and 112 unchanged. Sensex and Nifty opened higher but gains were capped ahead of the GDP figures to be released on Friday.
India Bulls Housing Finance shot up 24.65% after the Ministry of Corporate Affairs found no irregularities in loans extended by the NBFC to five companies, as alleged by a public interest litigation. In an affidavit to the Delhi High Court, the MCA revealed that the loans extended to ADAG, DLF, Amricorp had been repaid and those given to Vatika and Choridia were ‘standard accounts’.
On Friday, the major indices opened low and ended with losses. On the NSE, there were 867 advances, 901 declines and 376 unchanged. The key Indian equity indices opened on a negative note on Friday with the BSE Sensex declining over 150 points in early trade.
The RBI filed an application in the National Company Law Tribunal's Mumbai bench for initiation of corporate insolvency resolution process against the cash-strapped Dewan Housing Finance Corporation Ltd (DHFL). There would be a debt moratorium on DHFL as long as the insolvency process undergoes, RBI said.