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Trend Today Report (17 Feb 2018)

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husains

Husains

MARKET WRAP

The benchmark indices ended off day's low but remained under pressure during the day. The

30-share BSE Sensex was down 286.71 points at 34,010.76 and the 50-share NSE Nifty was down

94.30 points at 10,451.20.

The benchmark indices were volatile in the final hour of trade with Sensex trading around 34,

000 and nifty trading below 10,450.

Ambuja Cements, Kotak Mahindra Bank, Dr Reddys Labs, TCS, Infosys and Wipro are the top

gainers on the indices, while top losers are SBI, Tata Steel, Yes Bank, Maruti Suzuki, ICICI Bank,

Eicher Motors and Tech Mahindra.

BROAD MARKET INDICES

INDEX

P. Close

OPEN

HIGH

LOW

CURRENT %CHANGE

NIFTY 50

10545.50

10596.20

10612.90

10434.05

10452.30

-0.88

NIFTY NEXT 50

29833.75

29967.60

30026.60

29381.55

29501.90

-1.11

NIFTY MIDCAP 50

5200.40

5223.10

5243.15

5116.30

5131.25

-1.33

NIFTY100 LIQ15

4441.15

4361.95

4373.85

4266.15

4376.20

-1.46

Contact No. +91-903-977-7700

www.moneyclassicresearch.com

asian index

ASIAN INDEX

INDEX

OPEN

HIGH

LOW

CLOSE

%CHANGE

NIKKEI 225

21465

21866

21500

21720

1.18

HANG SENG

31115.4

31145

30817

31115

1.93

TAIWAN

10421.1

10474

10416

10421

0.47

SSE

3199.48

3203.5

3171.4

3199.5

0.45

INDIAN MAJOR SECTORAL INDICES

INDEX

P. Close

OPEN

HIGH

LOW

CURRENT %CHANGE

NIFTY BANK

25424.35

25511.95

25601.00

25100.90

25163.90

-1.02

NIFTY FIN SERVICE

10560.40

10593.75

10623.80

10436.40

10464.90

-0.90

NIFTY IT

12456.50

12512.75

12687.45

12412.10

12437.90

-0.15

NIFTY PHARMA

9207.50

9231.85

9262.15

9141.05

9180.90

-0.29

Contact No. +91-903-977-7700

www.moneyclassicresearch.com

stock update

STOCK UPDATE

Union Bank has $300-m exposure to PNB fraud case, confident to

receive the payment

"The outstanding exposure related to the incident is approximately USD 300 million and the

bank is fully secured by LoU / LC / other documents," Union Bank said.

Union Bank of India on Friday clarified that it has nearly 17 percent exposure to the transaction

fraud worth USD 1.8 billion (Rs 11,300 crore) detected by Punjab National Bank recently.

The bank said through its foreign branches it has been taking exposure with Punjab National

Bank as counter party under various letters of undertakings (LoU) issued through authenticated

SWIFT message.

The bank has also purchased some buyers' credit assets from Axis Bank through risk participation

as a part of normal international business practice, it added.

"The outstanding exposure related to the incident is approximately USD 300 million and the

bank is fully secured by LoU / LC / other documents," Union Bank said.

PNB, the country's second largest public sector lender, on Wednesday detected fraud

transactions totaling USD 1,771.69 million (approximately) or over Rs 11,300 crore at its Mumbai

branch. This led to the share price tanking 21 percent in previous two consecutive sessions.

Contact No. +91-903-977-7700

www.moneyclassicresearch.com

stock update 1

STOCK UPDATE

India Inc sees M&A deals worth $15 bn in January

Corporate India's merger and acquisition (M&A) activity witnessed over six-fold increase in year-

on-year deal value to approximately USD 15 billion in January, primarily on account of revived

domestic deal activity, says a report.

In January this year, there were 47 M&A deals worth USD 15,137 million, while there were 45

such transactions worth USD 2,301 million in the same month of 2017, according to assurance,

tax and advisory firm Grant Thornton. The uptick in the deal momentum was primarily on

account of revived domestic deal activity that witnessed over eight-fold increase in deal values.

January recorded three domestic deals valued over USD 1 billion accounting for 98 per cent of

the total M&A deal values, the report said.

Meanwhile, cross-border deal values recorded over two-fold increase on account of three big-

ticket transactions estimated and valued over USD 100 million.

"Deleveraging the asset holding companies and strengthening the market position appeared to

be the motive for the large domestic/merger transactions," said Pankaj Chopda - Director at

Grant Thornton India LLP. Chopda further said debt leveraging, insolvency proceedings and

pressure to strengthen/retain market position will continue to drive M&A transactions in energy

and natural resources, industrials and banking and financial services sectors. The deal activity in

January 2018 more than doubled at 47 deals from 20 deals as compared to December 2017. On

the other hand, values jumped 44 times over December 2017 on account of billion-dollar deals.

January witnessed four deals in the billion-dollar club compared with December 2017, when

nothing happened in this value bracket, the report added.

Contact No. +91-903-977-7700

www.moneyclassicresearch.com