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Markets will remain closed on May 13, 2021 on account of Id-Ul-Fitr (Ramzan Id).

Global Indices Positive, Moody's Upbeat on Indian Insurance & Cues to Watch out Today
Thu, 30 Nov Pre-Open | Prasheel Vartak, TM Team

On Monday, share markets in India finished in red after trading range bound throughout the day. The BSE Sensex closed lower by 16 points to end at 33,603 while the broader NSE Nifty ended the day lower by 9 points to close at 10,361.

Among BSE sectoral indices, metal stocks fell the most by 0.5%, followed by bank stocks by 0.4%. Axis Bank and HDFC were among the top losers.

Top Stocks in Action Today

Nestle India share price is set to be in focus today after the district administration in Uttar Pradesh's Shahjahanpur has slapped a fine on Nestle India and its distributors after popular noodles brand Maggi allegedly failed to pass a lab test.

The district administration had imposed a fine of Rs 4.5 million on the company, Rs 1.5 million on its three distributors and Rs 1.1 million on its two sellers.

NTPC share price is likely to be in focus today after the state-run power giant floated a tender to acquire commissioned stressed coal-based power plants in the country. According to the tender document, the company will shortlist the suitable operational domestic coal-based power assets located in India for possible acquisition after evaluating the offered projects.

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Moody's Positive on India's Non-life Insurance Sector

Global rating agency, Moody's Investors Service in its first report on the domestic insurance sector has stated that Indian non-life insurance sector is expected to maintain its double-digit growth over the next three to four years, on the back of higher economic expansion and increased household spending.

Besides, it projected that gross domestic product (GDP) of the country will grow by 6.7% in the fiscal year ending March 2018, making it one of the fastest growing economies in the world. However, it noted that annual insurance penetration remains comparatively low in India at just 3.5% of GDP, but is likely to increase in line with household spending.

The rating agency further indicated that in 2016-17 fiscal, the top 10 non-life insurers, recorded 30% growth in gross direct premium to Rs 1 trillion, while their top five life counterparts reported a 14% rise in gross premium to Rs 3 trillion. It also pointed out that the large private insurers have benefited the most, growing premia by 42% year-on-year in the year to March 2017. It added that these insurers are well placed for continued expansion, given their strong brands and market positions.

The report also welcomed the liberalization in the reinsurance space, which is evident from eight private reinsurers, Munich Re, Swiss Re, Scor and RGA, entering the market this year.

Global Markets Turn Positive

Banks led stock markets in Europe and Japan higher Wednesday after a jump in shares of financial companies helped the S&P 500 and Dow Jones Industrial Average notch their best day since September. Banks stocks were helped by rising government bond yields in both the US and Europe. Meanwhile, Britain and the EU edged closer to reaching a financial settlement over Brexit, which would allow them to move onto other topics, but negotiations are continuing to finalize an agreement that can win backing from EU member states. Chiming in on the uptick in stocks, the European Central Bank (ECB) warned that despite the improved economic growth in the euro area there are concerns related to a sudden increase in volatility.

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Stock Market Updates

Sensex Trades Over 300 Points Lower, Dow Futures Down by 128 Points (Today's Market)

May 12, 2021 12:30 pm

BSE Sensex is trading down by 328 points, while the NSE Nifty is trading down by 89 points.

GODREJ AGROVET Share Price Up by 9%; BSE FMCG Index Down 0.1% (Today's Market)

May 12, 2021 12:14 PM

GODREJ AGROVET share price is trading up by 9% and its current market price is Rs 577. The BSE FMCG is down by 0.1%. The top gainers in the BSE FMCG Index are GODREJ AGROVET (up 8.5%) and GSK CONSUMER (up 5.1%). The top losers are GILLETTE INDIA (down 0.2%) and ITC (down 0.2%).

Sensex Dips 300 Points, Nifty Falls Below 14,800; Godrej Consumer Zooms 10% (Today's Market)

May 12, 2021 09:30 am

Indian share markets open lower. The BSE Sensex opened down by 325 points, while the Nifty is trading lower by 84 points.

SIEMENS at All Time High; BSE CAPITAL GOODS Index Up 0.7% (Today's Market)

May 12, 2021 09:36 AM

SIEMENS share price has hit an all time high at Rs 2,096 (up 7.5%). The BSE CAPITAL GOODS Index is up by 0.7%. Among the top gainers in the BSE CAPITAL GOODS Index today are SIEMENS (up 7.5%) and HONEYWELL AUTOMATION (up 0.1%). The top losers include CARBORUNDUM UNIVERSAL (down 0.1%) and SCHAEFFLER INDIA (down 0.4%).

CADILA HEALTHCARE at All Time High; BSE HEALTHCARE Index Down 0.1% (Today's Market)

May 12, 2021 09:36 AM

CADILA HEALTHCARE share price has hit an all time high at Rs 640 (up 1.1%). The BSE HEALTHCARE Index is down by 0.1%. Among the top gainers in the BSE HEALTHCARE Index today are CADILA HEALTHCARE (up 1.1%) and ABBOTT INDIA . The top losers include TORRENT PHARMA (down 0.1%) and SANOFI INDIA (down 0.1%).

BLISS GVS PHARMA Share Price Down by 6%; BSE HEALTHCARE Index Down 0.1% (Today's Market)

May 12, 2021 09:34 AM

BLISS GVS PHARMA share price is trading down by 6% and its current market price is Rs 124. The BSE HEALTHCARE is down by 0.1%. The top gainers in the BSE HEALTHCARE Index are SUN PHARMA ADV. RES. (up 2.0%) and AJANTA PHARMA (up 1.9%). The top losers are BLISS GVS PHARMA (down 5.6%) and DISHMAN CARBOGEN AMCIS (down 7.8%).

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