We had mentioned in Tuesday’s closing report that Nifty, Sensex may record a relief rally. The major indices of the Indian stock markets were range-bound on Wednesday and closed with losses over Tuesday’s close. On the NSE, there were 844 advances, 903 declines and 312 unchanged. The trends of the major indices in the course of Wednesday’s trading are given in the table below:
Profit booking ahead of the September Futures and Options (F&O) expiry subdued the Indian equity markets on Wednesday. Accordingly, selling pressure was witnessed in auto, IT (information technology) and FMCG (fast moving consumer goods) counters.
HCL Technologies signed a new 5-year infrastructure services contract with Anglo American, a company headquartered in UK which runs mining operations across Southern Africa, North and South America and Australia, with a workforce of 69,000 people worldwide. The company’s shares closed at Rs1,090.35, down 2.33% on the NSE.
Torrent Power emerged as the winning bidder for capacity of 115 MW project in the E-reverse auction process conducted by SECI for setting-up of 1,200 MW ISTS connected wind power projects. The bid tariff for capacity addition is Rs2.76 / kWh. Torrent Power shares closed at Rs228.95, up 0.35% on the NSE.
Reliance Industrial Investments and Holdings (RIIHL) of Reliance Industries has made a further investment of US$ 8 million in NetraDyne Inc., USA by subscribing to 40.58 lakh CCPS taking its total holding to 37.4% in NetraDyne. RIIHL had previously invested US$ 16 million in NetraDyne. Reliance Industries shares closed at Rs1,253.50, up 1.86% on the NSE.
TCS BaNCS for Market Infrastructure has been selected by the Kuwait Clearing Company (KCC) for Central Counter Party (CCP) Services. TCS' solution is to increase liquidity, reduce risk, support new asset classes, and deliver Innovation to the Kuwaiti financial market. Tata Consultancy Services shares closed at Rs2,147.15, down 1.65% on the NSE.
Adani Green Energy won the tender for setting up 300 MW Wind generation project to be set up anywhere in India and connected through ISTS. The fixed PPA tariff is Rs2.76/kWh for a period of 25 years and is expected to be commissioned by Q2 FY 2021. The company’s shares closed at Rs45.30, up 1.68% on the NSE.
Minda Industries board has approved Rs500 crore investment proposal for setting up a new manufacturing plant of 2-Wheeler Alloy Wheel in Maharashtra, for supplies to OEMs. The project would be completed in two phases. The start of production is expected from November, 2019. Minda Industries shares closed at Rs368.50, up 2.95% on the NSE.
Reliance Communications (RCOM) on Wednesday said it plans to expand its data centres in India, including those in Bengaluru, Hyderabad and Chennai. Reliance Communications shares closed at Rs12.85, up 11.74% on the NSE.
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: