Nifty, Sensex Trendless – Thursday closing report
We had mentioned in Tuesday’s closing report that Nifty, Sensex were headed higher. The major indices suffered losses. On the NSE, there were 644 advances, 1,139 declines and 346 unchanged. The trends of the Indian stock markets in the course of Thursday’s trading are given in the table below:
 
 
Air India said that the second bond issue of the special purpose vehicle (SPV) Air India Assets Holding Ltd (AIAHL) has been fully subscribed. The 10-year tenure bonds of AIAHL worth Rs1,000 crore with a "green shoe" option of Rs6,000 crore was fully subscribed at the rate of 7.39%. The official said that the company received bids worth Rs21,736 crore and has decided to accept the entire issue of Rs7,000 crore.
 
ARSS Infrastructure Projects has secured two work orders of Rs220.65 crore for construction of roadbed, major and minor bridges, etc.
 
Steel Strips Wheels (SSWL) has received an exports order for market in the Western Hemisphere. The orders would be executed over a period of 12 months with supplies beginning this month from Chennai plant. This additional business will ensure continuation of 100 percent utilization of Chennai plant.
 
Sterlite Power has received funds from newly issued infrastructure debentures rated by Fitch Ratings as AAA for the Arcoverde Project. This is an important milestone for Sterlite as it is its first infrastructure debenture in the Brazilian capital markets.
 
Indusind Bank financial results for the quarter ended September 2019 showed 31% year-on-year rise in net interest income to Rs8,878 crore. Net profits grew 52% y-o-y to Rs1,401 crore.
 
The stock of Indiabulls Housing collapsed by 19% after the RBI rejected the proposed merger with Lakshmi Vilas Bank Limited.
 
Tata Motors Group global wholesales in September 2019, including Jaguar Land Rover, were at 89,912, lower by 27%, as compared to September 2018. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in September 2019 were at 28,524, lower by 45%, over September 2018. Global wholesales of all passenger vehicles in September 2019 were at 61,388 nos., lower by 14% as compared to September 2018.
 
Global wholesales for Jaguar Land Rover were 53,091 vehicles (*JLR number for September 2019 includes CJLR volumes of 4,672 units). Jaguar wholesales for the month were 13,800 vehicles, while Land Rover wholesales for the month were 39,291 vehicles.
 
Edelweiss Asset Management Limited, (which has various schemes of mutual funds) has approached the Mumbai High Court for recovery of principal and interest dues from DHFL, in line with action taken by other peers in the industry.
 
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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    Investing Tactics in Uncertain Times
    This year has not been kind to investors. Corporate India is beset by issues of governance. Just when you thought the worst is behind us, comes a bank problem. Now, we see ghosts in every cupboard. The air is full of scepticism and fear. Banks, mutual funds, manufacturing companies, finance companies, real estate business, etc.—there are problems everywhere.
     
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  • BSE's India INX achieves $500 bn cumulative turnover in Oct
    The BSE-owned India International Exchange (India INX) on Wednesday said it has achieved a cumulative turnover of $500 billion since it was set up in 2017.
     
    "India International Exchange (India INX), the international exchange based in the International Financial Services Centre (IFSC) at Gujarat International Finance Tec-City (GIFT City) has crossed the USD 500 billion mark in its cumulative total trading turnover driven by a substantial jump in its volume to over 37.15 million contracts. 
     
    "India INX has maintained its leadership as the No. 1 exchange in IFSC GIFT City with an average daily turnover of USD 2,290 million (INR 16,254 cr) having overall market share of 87 per cent in IFSC for the period from quarter-ended September 2019," the exchange said in a statement. 
     
    The India International Exchange is India's first international stock exchange, opened in 2017. Located at the International Financial Services Centre, GIFT City in Gujarat, it is a wholly-owned subsidiary of the Bombay Stock Exchange. 
     
    The India INX Futures are currently available on the Sensex, INDIA50, gold, silver, Brent crude oil, euro, dollar, British pound, Japanese yen, 149 Indian single stock futures as well as international commodities such as aluminium, copper, lead, nickel, and zinc. Option contracts have also been launched on several of these products. 
     
    Commenting on the milestone, India INX MD & CEO Balasubramaniam V said: "The substantial increase in trading volume and open interest on the India INX derivatives segment further reinforces our leadership in the IFSC GIFT City. This is a clear indication of the effectiveness of our strategy and showcases our capability to become a leading international derivatives exchange in the years ahead. Further, the RBI's monetary policy allowing rupee derivatives to be traded in IFSC Gift City will attract more participants to the IFSC and increase liquidity." 
     
    In the Global Securities Market, India INX has established MTN programme of $44.57 billion (market share of 100 per cent) and listed bonds valuing $17.62 bil lion (market share 98 per cent). This firmly establishes India INX and GIFT IFSC as a credible and competitive international jurisdiction for raising capital from global investors, the statement said. 
     
    The Depository Receipts (Amendment) Scheme 2019 has been amended to include GIFT IFSC as a permissible jurisdiction and India INX looks forward to introducing Depository Receipt and Equity Listings as and when operating guidelines are issued by the Regulator. With products spanning across multi-asset c lasses such as equities, commodities, currencies and debt securities, India INX has become the de facto alternative destination for global investors as c ompared to international financial centres such as Singapore, Hong Kong, Dubai, New York and Chicago, it said. 
     
    The exchange had witnessed an all-time high turnover of over $4.5 bn (Rs 31,253 crore approx.) on its derivative segment in daily trading turnover on July 25, 2019, while on May 30, the daily turnover crossed over $3.3 bn.
     
    Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
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