Nifty, Sensex May Try to Rally – Wednesday closing report
We had mentioned in Tuesday’s closing report that Nifty, Sensex may rise if global markets are strong. The major indices of Indian equity markets were range bound on Wednesday and ended with minor gains even though global markets were strongly up. On the NSE, there were 486 advances, 1,292 declines and 320 unchanged. 
 
 
The 30-scrip Sensitive Index (Sensex) on Wednesday opened on a positive note during the morning session of the trade. Overseas, Asian stocks were trading higher on Wednesday on growing investor confidence that the Fed will cut interest rates this year.
 
Shares of Tata Steel jumped 4% in the Wednesday's session and broke their losing streak of the last four consecutive sessions. Indiabulls Group stocks came under heavy pressure. Shares of Indiabulls Ventures and Indiabulls Real Estate plunged up to 20%.
 
State-owned engineering firm BHEL announced on June 19 that it has commissioned Unit-1 of 84 MW at Chhukha hydro electric project in Bhutan. It has achieved yet another milestone in Bhutan with the successful commissioning of Unit-1 of the 4x84 MW Chhukha hydro electric project (HEP), following complete renovation and modernisation (R&M) of the generator, BHEL said in a statement.
 
Engineering and construction giant Larsen & Toubro (L&T) has won a contract for water supply project in Sri Lanka. As per the company's project classification, the award value falls in the range of Rs1,000 crore to Rs2,500 crore. 
 
The Reserve Bank of India (RBI) on Tuesday imposed a penalty of Rs 1 crore on private sector lender HDFC Bank for non-compliance of Know Your Customer (KYC) norms and anti-money laundering norms, and for failure to report frauds. The central bank, however, said that the action was based on deficiencies in regulatory compliance and not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.
 
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:
 
 
 
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    Nifty, Sensex May Rise if Global Markets are Strong – Tuesday closing report
    We had mentioned in Monday’s closing report that Nifty, Sensex were under pressure. The major indices of the Indian stock markets were range bound and closed with minor gains over Monday’s close. On the NSE, there were 688 advances, 1,092 declines and 316 unchanged. The trends of the Indian stock markets in the course of Tuesday’s trading are given in the table below:
     
     
    The Sensex on Tuesday opened marginally higher ahead of the US Federal Reserve policy meet. The two-day US Federal Reserve's monetary policy meeting is scheduled to begin on Tuesday. 
     
    Bharti AXA General Insurance on Tuesday said the company registered an increase of 29% in its Gross Written Premium (GWP) to Rs2,285 crore in the financial year 2018-19 from Rs1,772 crore in 2017-18. 
     
    Driven by growth across all product segments and channels of distribution, it achieved healthy top line performance against an overall industry growth of 12.9% and private sector growth of 25% in the financial year that ended on March 31, 2019.
     
    Vedanta on June 17 said its first pilot floating solar plant will be completed in the next two to three months. In an investor brief, the company said it is focussing on renewable energy and its group firm Hindustan Zinc plans its "first pilot floating solar to be completed in next 2-3 months". Vikram Solar, module manufacturer and rooftop solar and EPC solutions provider, had earlier in the year announced that it bagged the project order for a 1-MW floating solar plant for Hindustan Zinc Ltd, a Vedanta Group firm.
     
    Shares of YES Bank hit nearly five-year low of Rs107, down 8% on the BSE on Tuesday, falling 20% in the past four days after global brokerage firm UBS cut the target price to Rs90 from Rs170. The stock of the private sector lender was trading at its lowest level since August 12, 2014. 
     
    The foreign brokerage firm has maintained ‘sell’ rating on the stock saying sharp turnaround is less likely to fructify. It expects 255/200 basis points (bps) credit costs in FY20/21, higher than management guidance of 125 bps. NPL (non-performing loan) risks seem higher than current expectation, it said.
     
    Indiabulls Housing Finance has appointed a chief risk officer and complied with norms of National Housing Bank (NHB), the housing finance sector regulator. “In compliance with NHB/ND/DRS/Policy Circular No.
     
    95/2018-19 dated 29 May, 2019 issued by NHB, we wish to inform that Naveen Uppal, has been appointed as Chief Risk Officer (CRO) of the company, for a period of three years, with effect from 17 June, 2019," the company said in a notice. Naveen Uppal will directly report to the vice-chairman, managing director and CEO of the company or the board-constituted risk management committee of the company. The stock crashed by -7.35%.
     
    Shares of Jet Airways nosedived to record lows on Tuesday, wiping out more than half of the company's market value, a day after creditors said that they plan to begin insolvency proceedings against the grounded airline. According to news agency Reuters, insolvency proceedings against Jet Airways are likely to begin this week. The National Company Law Tribunal (NCLT) could hear insolvency petitions filed by the carrier's operational creditors for recovery of dues on June 20, the report said.
     
    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:
     
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    Nifty, Sensex Under Pressure – Monday closing report
    We had mentioned in Friday’s closing report that Nifty, Sensex were trading sideways in the absence of triggers. The indices closed with losses. On the NSE, there were 409 advances, 1369 declines and 334 unchanged.
     
    The trends of the major indices in the course of Monday’s trading are given in the table below:
     
     
    Indian equities traded in red during the morning trade session on Monday after opening slightly higher. Index heavyweight Reliance Industries was down 1.56% on the BSE. Asian shares opened mixed as investors were cautious ahead of the Federal Reserve meeting. Besides, investors continued to watch developments in the Middle East after a pair of oil tankers were attacked near the Strait of Hormuz on June 13. 
     
    Yes Bank CEO Ravneet Gill has plans to raise $1.2 billion over 18 months to bolster the banks capital buffer through a mix of public and private share sales. “The number one priority would be raising capital," Gill said in an interview to the media on Monday, adding that the infusion would take place in two almost equal tranches with the first likely by the end of September. “Effectively, what we need is growth capital."
     
    Shares of metal companies, mainly steel, were under pressure on Monday, with Nifty Metal index slipping nearly 3% on the National Stock Exchange (NSE) amid trade tension and weak data from China.
     
    Shares of Divi's Laboratories jumped 3.6% intraday after the US health regulator concluded inspection of Andhra Pradesh unit with zero observation. On June 15, the pharmaceutical firm announced that its Unit-II at Bheemunipatnam, Andhra Pradesh was inspected by the US Food and Drug Administration USFDA from 10 to 15 June 2019.
     
    Piramal Enterprises on Monday said has divested its entire stake in asset financing firm Shriram Transport Finance Company for approximately Rs2,305 crore. "The company has sold its entire direct investment of 9.96% in the fully paid-up share capital of Shriram Transport Finance Company to third party investors on the floor of the stock exchange," Piramal Enterprises said in a regulatory filing. Shriram Transport fell 6.18% while PEL fell 2.88%.
     
    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:
     
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