Weekly Moneylife Indices & Sector Trends
INDIAN MARKET TRENDS
For the period from 27 September 2019 to 3 October 2019, the NIFTY, the Sensex and ML Mega-cap Index fell 2% each. ML Large-cap Index and ML Mid-cap Index fell 4% and 5%, respectively. ML Micro-cap Index and ML Small-cap Index fell 6% each.
 
 
FUND FLOWS
Foreigners: Foreign institutional investors were net sellers of equities during the period...
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  • Aegis Logistics: Strong Showing
    Aegis Logistics Limited (Aegis) provides logistics and supply-chain services to the oil, gas and chemicals industry. It also sells liquefied petroleum gas (LPG), wholesale marketing of solid, liquid and gaseous fuels and related products, and stores and warehouses products, furniture, automobiles, gas & oil, chemicals and textiles. 
     
    The business is divided into two divisions:...
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  • Nifty, Sensex May Be Trendless – Thursday closing report
    We had mentioned in Tuesday’s closing report that Nifty, Sensex were under pressure. The major indices closed with losses. On the NSE, there were 709 advances, 1,081 declines and 341 unchanged. The trends of the Indian stock markets in the course of Thursday’s trading are given in the table below:
     
     
    Yes Bank's senior group President Rajat Monga who was with the company since its inception in 2004 resigned. Meanwhile, a sharp rebound was seen in Yes Bank shares after the company on Wednesday issued clarification about its financials, which it described as "intrinsically sound and stable with liquidity position well in excess of regulatory requirements". The private lender shares jumped 33%, just a day after founder Rana Kapoor’s pledged shares were sold off by lenders there were rumours about Yes Bank’s exposure to troubled India Bulls Housing Finance.
     
    The Centre has selected around 226 districts for the first phase of the proposed customer outreach programme of the public sector banks (PSB). As per the list, in the first phase, State Bank of India, the largest PSB would hold the highest number of camps, with around 49 districts under its umbrella. Bank of Baroda would camps in around 26 districts across the country. The development follows Finance Minister Nirmala Sitharaman's announcement in September whereby she had said that the PSBs will organise credit "shamiana meetings" in 400 districts beginning October 3 to provide loans to NBFCs and retail borrowers, including homebuyers and farmers.
     
    Religare Enterprises will sell its NBFC business, Religare Finvest, to TCG Advisory Services for Rs330 crore. According to the financial services group, a share purchase agreement was signed on Tuesday and that the accrued fund will be used to repay the outstanding loans to group companies, third parties and for other general corporate purpose.
     
    Sanghvi Forging & Engineering has received the one time settlement sanction letter from Bank of Baroda & State Bank of India. The OTS sanctioned letter is subject to fulfilment of various terms & conditions and payment obligations.
     
    Indiabulls Housing Finance has pre-funded the entire maturity proceeds of its Rs1,330 crores masala bonds to Axis Trustee two weeks in advance maturing on 15th October 2019. Additionally, the company will issue an offer at par to all debenture holders for pre-mature redemption of all NCDs maturing in October 2019.
     
    Stock prices of paper companies declined up to 12%, extending their Tuesday’s decline of 7% on news that the government has no immediate plan to ban single-use plastic items. In September, paper stocks rallied by up to 84% on expectation of ban on single-use plastic. 
     
    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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