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Nifty ends above 10,250, up 1.4% for the week; Sensex ends 301 pts higher

All that happened in the market today

SI Reporter  |  New Delhi 

Bonds, Stock markets, Shares, Trading

Benchmark indices rose for the second straight session on Friday amid hopes the ruling Bharatiya Janata Party (BJP) would win critical state elections in Gujarat beginning this weekend, while automakers gained on reports of an expected price hike next year.

The election in Prime Minister Narendra Modi’s home state is a key test for the BJP, ahead of general elections in 2019. The results will be out later this month.

According to polls, the BJP could win, but with a reduced majority - an outcome that would still soothe investors, who are hoping for more political stability and have largely welcomed Modi’s reform agenda.

Globally, rallied for a second session on Friday as economic from and Japan beat all expectations while bitcoin, the market’s new crypto-star, tumbled more than 10 percent after a meteoric ascent in recent weeks.

3:34 PM Markets at Close

The S&P BSE Sensex ended at 33,250, up 301 points while the broader Nifty50 index settled at 10,265, up 98 points

3:20 PM

Govt to seek court approval to take control of Unitech; stock surges 20%
 
Unitech was locked in upper circuit of 20% at Rs 7.29 on the BSE with no sellers seen on the counter after media report suggested that the government to seek court approval to take control of the realty major.
 
The Exchange has sought clarification from Unitech with respect to news article appearing on www.business-standard.com on December 08, 2017 about the said report. The reply is awaited. READ MORE

3:12 PM

TCS tops MOSL's wealth creation list; Coal India, Bhel wealth destroyers
 
Tata Consultancy Services (TCS) has emerged as the biggest wealth creator during 2012–2017, finds the latest Motilal Oswal Wealth Creation Study by Raamdeo Agrawal, co-founder and joint managing director of the group.
 
"TCS has emerged as the biggest wealth creator for the period 2012-17, retaining the top spot it held in the previous four study periods (2011-16, 2010-15, 2009-14 and 2008-13). Reliance Industries (RIL) has muscled its way to the third position after not featuring in the wealth creators list in the previous study," the findings suggest.
 
The study defines wealth created as the difference in market capitalisation over a period of past five years, after adjusting for equity dilution. READ MORE

3:01 PM Market Check at 3 pm

Index Current Pt. Change % Change
 
S&P BSE SENSEX 33,273.57 +324.36 +0.98
 
S&P BSE SENSEX 50 10,714.38 +103.91 +0.98
 
S&P BSE SENSEX Next 50 35,763.20 +400.24 +1.13
 
S&P BSE 100 10,753.28 +106.98 +1.00
 
S&P BSE Bharat 22 Index 3,707.62 +33.04 +0.90

2:48 PM

Balkrishna Industries, Vakrangee rally up to 39% post bonus announcement
 
Shares of Balkrishna Industries and Vakrangee hit their respective new high on Friday, up 39% after their respective boards declared bonus issue to their existing shareholders. Both these stocks have outperformed the market by wide margins post bonus announcements. READ MORE

2:38 PM Buzzing Stock

 
Shares of Steel Authority of India Ltd jumped as much as 3.9 percent after Reuters reported, citing sources, that the state-run firm was set to approve a long-proposed $1 billion JV with ArcelorMittal SA next week.

2:23 PM

Maruti Suzuki hits new high; surpasses SBI, HDFC in market-cap ranking
 
Maruti Suzuki India hit a new high of Rs 9,120 on the BSE in intra-day delas on Friday, surpassing the state-owned banking giant State Bank of India (SBI) in market capitalisation (market-cap) ranking.
 
On Thursday, Maruti Suzuki India had surpassed the India's largest mortgage lender and non-banking finance company Housing Development Finance Corporation (HDFC).
 
Maruti Suzuki India with market-cap of Rs 273,958 crore came in at number sixth position in overall ranking ahead of SBI which had market-cap of Rs 272,902 crore at 10:49 am; the BSE data showed. HDFC had market-cap of Rs 267,242 crore.
 
Maruti Suzuki India was at number 11th position in overall market-cap ranking at beginning of the current calendar year 2017 (CY17). It surpassed Infosys, Oil and Natural Gas Corporation (ONGC) and Coal India thus far in CY17. READ MORE

2:07 PM

Govt extends deadline to link Aadhaar with PAN by 3 months to March 31
 
The government on Friday extended the deadline for mandatory linking of PAN with Aadhaar by three months to March 31, 2018.
 
This is the third extension given by the government to individuals to link the Permanent Account Number (PAN) with the biometric ID.
 
The Centre had already informed the Supreme Court that it is willing to extend till March 31 the deadline fixed for mandatory linking of Aadhaar to avail various services and welfare schemes.
 
"It has come to notice that some of the taxpayers have not yet completed the linking of PAN with Aadhaar. READ MORE

1:46 PM

Interview of the day
 
Bulk of wealth is created in co's growth advantage period: Raamdeo Agrawal
 
On the eve of the launch of its 22nd Annual Wealth Creation study, Raamdeo Agrawal, co-founder and joint managing director, Motilal Oswal Financial Services talks on the learnings from the latest initiative. He also shared his views on the market outlook and why investors shouldn’t worry over the outcome of Gujarat state elections. READ FULL INTERVIEW HERE

1:30 PM Market Check

Index Current Pt. Change % Change
 
S&P BSE SENSEX 33,193.42 +244.21 +0.74
 
S&P BSE SENSEX 50 10,695.05 +84.58 +0.80
 
S&P BSE SENSEX Next 50 35,742.76 +379.80 +1.07
 
S&P BSE 100 10,736.01 +89.71 +0.84
 
S&P BSE Bharat 22 Index 3,694.42 +19.84 +0.54

1:12 PM

Riddhi Siddhi Gluco Biols zooms 20% on delisting plan
 
Riddhi Siddhi Gluco Biols was locked in upper circuit of 20% at Rs 581, also its new high on the BSE, after the company announced that the board will meet on Tuesday, 12th December, 2017 to consider the delisting proposal.
 
The company has received the proposal from the promoter(s)/promoter(s) group as regards delisting of equity shares of the company from BSE, Riddhi Siddhi Gluco Biols said in a filing. READ MORE

12:50 PM

Jet Airways falls 5% post Q2 results
 
Jet Airways (India) dipped 5% to Rs 665 on the BSE in intra-day trade after the company reported a 91% drop in standalone net profit at Rs 50 crore in September quarter (Q2FY18), due to higher fuel expenses. It had profit of Rs 549 crore in the same quarter year ago.
 
Revenue from operations grew 3% at Rs 5,627 crore against Rs 5,453 crore in the corresponding quarter of previous year.
 
Quarterly total expenses rose 9.2% to Rs 5,709 crore with aircraft fuel expenses rising about 17% at Rs 1,526 crore over the previous year quarter.

12:38 PM Sectoral Trend

Source: NSE


12:14 PM

Govt to seek court approval to take control of realty major Unitech: Report
 
The corporate affairs ministry has moved the bankruptcy court to take management control of realty major Unitech on grounds of mismanagement and diversion of funds, Bloomberg reported on Friday.
 
Unitech’s Managing Director Sanjay Chandra was arrested in April 2017 following a complaint by home buyers who weren’t given possession of their flats. Unitech had yet to deliver possession of 16,299 flats worth Rs 7,816 crore to investors. 
 
The Supreme Court denied Chandra bail until the company deposited funds with it to protect the interests of such buyers. READ MORE

11:58 AM

Bitcoin plunges more than 12% to below $15,000 after hitting record $19,000
 
Bitcoin tumbled more than 12 per cent in volatile Asian trading on Friday, dropping below the $15,000 level after touching a record high above $19,000 earlier in the session.
 
Bitcoin was down 12.6 per cent on the Bitstamp exchange at $14,500.76 as of 0530 GMT, after rising to a record $19,000.
 
It was still up more than 30 per cent for the week, as investors debated about whether the cryptocurrency was in a bubble that was about to burst.

11:40 AM Sensex nears 33,250 levels

Index Current Pt. Change % Change
 
S&P BSE SENSEX 33,234.71 +285.50 +0.87
 
S&P BSE SENSEX 50 10,705.51 +95.04 +0.90
 
S&P BSE SENSEX Next 50 35,732.25 +369.29 +1.04
 
S&P BSE 100 10,744.23 +97.93 +0.92
 
S&P BSE Bharat 22 Index 3,698.58 +24.00 +0.65


(Source: BSE)

11:37 AM Mark Mobius at Barclay's India Forum

IT and pharma sectors will continue to remain strong

(courtesy: CNBC)

11:37 AM

Mark Mobius to CNBC TV18
 
GST address a lot of transportation issues. Domestic demand will continue for pharma and IT sectors

11:36 AM Mark Mobius to CNBC TV18

India has plenty of Iron ore and coal. The government should make use of this

11:35 AM Mark Mobius at Barclay's India Forum

A lot of commodities in India have not been exploited like iron ore, coal, which can be used by the administration

(courtesy: CNBC)

11:34 AM Mark Mobius on CNBC TV18

Commodities: There will be a recovery in commodities as the demand continues to surge

11:31 AM Mark Mobius on CNBC TV18

I am moving my money to state-owned banks post government's PSU bank recap plan

11:31 AM Mark Mobius on CNBC TV18

Most of FII money is in fixed income securities in the developed markets like the US and Europe

11:30 AM Mark Mobius at Barclay's India Forum

Biggest risk in the global market is political uncertainty

(courtesy: CNBC)

11:29 AM Mark Mobius at Barclay's India Forum

Rise of the ETFs are quite amazing, the way they have grown

(courtesy: CNBC)

11:29 AM Mark Mobius on CNBC TV18

Rise of ETFs has been amazing. As India's market-cap increases, they will have to invest here. Foreign investors, will then, have to take a bigger share of the market in India

11:28 AM Mark Mobius at Barclay's India Forum

Bitcoin bubble will burst when funds start flowing in

(courtesy: CNBC)

11:28 AM Mark Mobius to CNBC TV18

Unless euphoria sets in, there is still room for the markets to go up

11:26 AM Mark Mobius at Barclay's India Forum

There is a lot of money still to made with bitcoins

(courtesy: CNBC)

11:25 AM Mark Mobius on CNBC TV18

On Cryotocurrencies: Bitcoins are giving 'Tulips' a bad name

11:24 AM Mark Mobius at Barclay's India Forum

India will not be impacted as much as other countries like Japan in the North Korea-US rift

(courtesy: CNBC)

11:24 AM Mark Mobius at Barclay's India Forum

Market could move 20% higher than levels seen in 2007

(courtesy: CNBC)

11:22 AM Mark Mobius at Barclay's India Forum

Current administration has been clever in terms of making reforms

(courtesy: CNBC)

11:21 AM Mark Mobius at Barclay's India Forum

Going forward, India will be moving at a faster pace than China

(courtesy: CNBC)

11:21 AM Mark Mobius at Barclay's India Forum

Changes on ground have to come due to technology

(courtesy: CNBC)

11:20 AM Mark Mobius at Barclay's India Forum

Bullish on telecom sector 

(courtesy: CNBC)

11:19 AM Mark Mobius at Barclay's India Forum

We are in the middle of a bull market

(courtesy: CNBC)

11:13 AM

Investor flow into equity mutual funds at Rs 20,308 cr in November
 
Equity mutual funds (MFs) saw net investor inflow of Rs 20,308 crore in November, despite weakness in the stock market.
 
This is the second time after August that equity schemes got monthly inflow in excess of Rs 20,000 crore. The average inflow for the previous four months was Rs 18,900 crore.
 
With this, total inflow for the year is Rs 1.36 lakh crore, highest yet in a calendar year. The total of equity assets is Rs 8.3 lakh crore or 37 per cent of assets under management (AUM) in the sector, which also rose to a record Rs 22.8 lakh crore at the end of November. Overall AUM saw an increase of 6.5 per cent over the month. READ MORE

10:59 AM Market Check at 11 am

Index Current Pt. Change % Change
 
S&P BSE SENSEX 33,200.00 +250.79 +0.76
 
S&P BSE SENSEX 50 10,696.16 +85.69 +0.81
 
S&P BSE SENSEX Next 50 35,727.42 +364.46 +1.03
 
S&P BSE 100 10,736.28 +89.98 +0.85
 
S&P BSE Bharat 22 Index 3,697.35 +22.77 +0.62

10:56 AM

Hospital operator Shalby's Rs 510-cr IPO subscribed nearly three times
 
Indian hospital operator Shalby Ltd's initial public offering to raise Rs 510 crore($79 million) was subscribed 2.8 times on the last day of the sale on Thursday.
 
Institutional investors bid for 4.5 times the number of shares reserved for them, while the retail portion was subscribed 2.93 times, data as of 6:00 PM (1230 GMT) showed.
 
The offer comprised a primary share sale of Rs 480 crore, while one of the existing shareholders was selling 1 million shares in the IPO in a price range of 245 rupees to 248 rupees.

10:40 AM

Foreign brokerages expect bull run to continue in 2018
 
Indian equities have rallied more than 25% in 2017, but most equity strategists are not yet calling an end to the bull market.
 
Foreign brokerages forecast the benchmark Nifty to deliver returns of more than 15 per cent by December 2018.  Equity strategists are basing their expectation on strong corporate earnings recovery, supportive global economic growth, and gradual improvement in business sentiment. READ MORE

10:31 AM

CENTRUM BROKING ON FIEM INDUSTRIES (Rating: Buy; Target Price: Rs 1,260)
 
We maintain our Buy rating on FIEM Industries with TP of Rs1,260. We expect FIEM’s growth to continue aided by strong growth prospects of its two biggest clients namely Honda Motorcycle and Scooter India (HMSI) and TVS Motor. 2QFY18 top-line performance was above estimates as auto segment posted strong growth. Had it not been for issues in LED business, the performance would have looked much stronger.  
 
Recently FIEM has faced several issues in its LED business, due to an unfavourable business environment. LED business reported a loss at EBIT level due to declining sales. Despite slightly lower visibility in the LED business, we remain convinced of FIEM’s medium-to-long-term growth opportunity as the company continues to remain a strong 2W auto ancillary company. Also, the management is working on several fronts to get the LED business on track which will provide additional growth in the long run

10:30 AM

CENTRUM BROKING ON DISH TV (Rating: Buy; Target Price: Rs 94)
 
We maintain our BUY rating on Dish TV and revise our target price to Rs94 (9x FY19E EV/EBIDTA). Merger synergies with Videocon d2h on the back of lower content cost, warehousing and logistics would add to margins. Further full positive impact of GST would come from Q3FY18 leading to higher margins. While ARPU growth would be gradual, we believe the initiatives such as hybrid STB, focus on HD subscribers which are 30% of incremental subscribers, a-la-carte pricing and prudent price hikes would help in medium term. Maintaining one million subscriber guidance for FY18 is a positive

10:27 AM

MARKET OUTLOOK
 
At this juncture, our preference is for companies that have room for further expansion in valuations and improving earnings trajectory. We like stocks in infrastructure (roads and building segment focused EPC companies), Metals (aluminium players), potential healthy dividend paying cash rich PSU companies, Urban infrastructure (Smart meters and Namami Gange) and Defence (make in India).  Key risks to our recommendation would come from adverse outcome of Gujarat elections, geopolitical concerns globally, decline in liquidity from FIIs and domestic mutual funds, sharp currency movements and a spike in oil prices
 
(Source: Kotak Securities)

10:25 AM

Toyota to hike prices of all its car models by 3% from January 2018
 
Automobile manufacturer Toyota Kirloskar Motor on Thursday said that it will likely hike prices across its models by up to three per cent from January 2018. According to the company, it considered the price rise after reviewing input and freight costs periodically, which is also a general industry phenomenon. CLICK HERE FOR THE FULL STORY

Toyota
Toyota logos are seen at City Toyota in Daly City, California, US | Photo: Reuters

10:22 AM

Future Consumer surges 15% on heavy volumes
 
Future Consumer surged 15% to Rs 67.50 on the BSE in early morning trade on back of heavy volumes after the media report suggested that Morgan Stanley initiated coverage of the stock with overweight rating. The foreign brokerage house predicted the one year target price of the stock price at Rs 95 per share.

10:20 AM Bank stocks gain

Banking stocks continued their upward march on Friday, with the S&P BSE Bankex firming up nearly 1%. CLICK HERE TO TRACK S&P BSE BANKEX

10:17 AM Sensex gains over 200 points

Index Current Pt. Change % Change
 
S&P BSE SENSEX 33,167.24 +218.03 +0.66
 
S&P BSE SENSEX 50 10,688.28 +77.81 +0.73
 
S&P BSE SENSEX Next 50 35,722.39 +359.43 +1.02
 
S&P BSE 100 10,729.23 +82.93 +0.78
 
S&P BSE Bharat 22 Index 3,698.44 +23.86 +0.65


(Source: BSE)

10:08 AM

Coinbase exchange at the heart of the bitcoin frenzy
 
The booming stock market of the 1920s had the New York Stock Exchange. The tech bubble of the 1990s had Nasdaq and E-Trade. And the virtual currency market of the last year has had Coinbase.
 
Coinbase has been at the centre of the speculative frenzy driving up the value of Bitcoin — which topped $13,000 on Wednesday — and similar currencies. While there are many Bitcoin exchanges around the world, Coinbase has been the dominant place that ordinary Americans go to buy and sell virtual currency. No company had made it simpler to sign up, link a bank account or debit card, and begin buying Bitcoin. READ MORE

9:54 AM

Most suspected shell firms get clean chit
 
Three months after suspending trade in 331 suspected shell companies, the capital market regulator, the Securities and Exchange Board of India (Sebi), has decided to take the investigation forward, but through forensic audit of only 10-12 firms.
 
According to sources, the stock exchanges have examined the credentials provided by these firms and submitted their report to the market regulator. After analysing the report, Sebi has picked only two companies out of the 48 suspected firms listed on the National Stock Exchange (NSE) for audit. Only eight companies out of 162 on the BSE have been picked for audit.
 
Sources say the rest of the firms have been given a clean chit in the matter, after verifying their documents. READ MORE

9:38 AM Sectoral Trend

Source: NSE

9:29 AM Top Sensex gainers and losers

Source: BSE

9:24 AM Broader Markets

In broader markets, the BSE Midcap and BSE Smallcap indices were up 0.6% and 0.8% respectively

9:20 AM Markets open

The S&P BSE Sensex was trading at 33,098, up 149 points while the broader Nifty 50 index was ruling at 10,209, up 43 points

9:11 AM

Derivative Strategy by HDFC Securities
 
Buy Nagarjuna Construction(NCC) December 125 call at Rs 4.35
 
Stop loss: Rs 3
Target: Rs 7
 
Rationale:
 
We have seen long positions being built in NCC futures today where we have seen open interest addition of 6% with price rise of 2%.
 
Stock price has already given breakout on the monthly chart in the month of November and recent mild correction is a buying opportunity

9:05 AM

Key trading ideas by Prabhudas Lilladher:
 
BUY ASIAN PAINTS      
CMP: Rs 1,144.40      
TARGET: Rs 1,245      
STOP LOSS: Rs 1,100
 
The stock has given a decent correction from the  peak of 1,200 levels and now has bottomed out at 1,099 and produced a positive bullish candle pattern in the daily chart to signify potential and strength to rise further in the coming days. The RSI has hit the oversold area and has indicated a steep rise with a trend reversal thus signaling a buy in this stock. The volume activity has been tremendous in the recent times and thus we recommend a buy in this stock for an upside target of 1,245 keeping a stop loss of 1,100.

Click here for more

9:02 AM INDEX WATCH: PRE-OPEN

Index Current Pt. Change % Change
 
S&P BSE SENSEX 32,983.68 +34.47 +0.10
 
S&P BSE SENSEX 50 10,625.03 +14.56 +0.14
 
S&P BSE SENSEX Next 50 35,444.43 +81.47 +0.23
 
S&P BSE 100 10,661.99 +15.69 +0.15
 
S&P BSE Bharat 22 Index 3,688.93 +14.35 +0.39


(SOURCE: BSE)

9:00 AM

Nifty outlook by Prabhudas Lilladher
 
Nifty for now has made a U-turn getting its daily trend turned up after 6 days; however Nifty needs to cross 10,200 levels for further target of 10,280-10,350. The support for the day is seen at 10,120 while resistance is seen at 10,220. This still continues to be a bounce back rally till we see some confirmation above 10,350.
 

9:00 AM

ANALYSIS Near-term headwinds for PI Industries
 
PI Industries gained about 17 per cent over the last month on positive growth commentary from the management and brokerage upgrades. Some analysts have revised their estimates for FY19 as they expect growth to be driven by new product launches, higher growth from its foray into the pharma space, and recovery in the custom synthesis space
 

8:59 AM

ANALYSIS Hero MotoCorp: Re-rating hinges on scooter, premium bike growth
 
The Hero MotoCorp stock has underperformed peers TVS Motor and Bajaj Auto in recent months on the back of muted September quarter numbers, lower presence in higher growth areas and margin pressures. Brokerages have been highlighting three areas --- scooters, premium motorcycles and exports -- where it is falling short of its smaller peers
CLICK HERE FOR THE FULL STORY

Pawan Munjal
Pawan Munjal, the CEO and MD of Hero MotoCorp, is firming up plans to launch more premium bikes
 

8:56 AM

Sebi proposes to allow MFs and portfolio managers in commodity derivatives
 
The Securities and Exchange Board of India (Sebi) proposes to permit mutual funds (MFs) and portfolio managers (PMs) to participate in exchange-traded commodity derivatives. 
 
On Thursday, it issued a consultation paper on this, seeking reactions by the end of this month — on allowing them, how and a possible regulatory framework. 
 
This is the market regulator's second move to allow institutional participants in commodity derivatives. Earlier, it had decided to allow category-III alternative investment funds or hedge funds. Allowing MFs and PMs would be a second move in the direction of broadbasing the commodity derivative segment, to improve liquidity and permit institutional players. READ MORE

8:56 AM

RECALL ALERT: LUPIN
 
Lupin is recalling 1,11,648 units of Duloxetine delayed-release capsules USP, in the strength of 30 mg, on account of failed dissolution specification, the United States Food and Drug Administration (USFDA) said in its latest Enforcement Report. The ongoing voluntary nationwide recall is a class III recall, it said. A class II recall is initiated in a "situation in which use of or exposure to a violative product may cause temporary or medically reversible adverse health consequences or where the probability of serious adverse health consequences is remote

8:55 AM NEWS YOU CAN USE

Mahindra & Mahindra the only carmaker that sells electric cars in India said that it will have three new offerings in the space by FY2020 which will be the high performance ones. The company also believes that by 2020 battery costs will substantially come down, making it possible to offer electric cars at a cheaper price
 

8:54 AM

IPO WATCH:
 
Indian hospital operator Shalby Ltd's initial public offering to raise Rs 510 crore($79 million) was subscribed 2.8 times on the last day of the sale on Thursday
 
The initial public offer of Future Supply Chain Solutions, the logistics arm of the Future Group, was subscribed 72 per cent at the end of the second day of bidding

8:53 AM

CHRIS WOOD OF CLSA ON BITCOINS
 
The commencement of Bitcoin futures trading next week represents the cryptocurrency phenomenon entering the formal financial world. It means that Bitcoins can be bought with leverage, which is both a positive and a negative since it means that any future collapse in prices could cause collateral damage in the financial system. It also means that Bitcoin can be sold short and hedged.

Christopher Wood
CLSA Managing Director & Equity Strategist Christopher Wood

8:52 AM

Bitcoin tops record $19,000, then plunges
 
Bitcoin rocketed above $19,000 for the first time on Thursday before falling sharply from its record high. In trading on the Coinbase exchange, the digital currency hit a high of %19,340 before falling more than 20%from that level to $15,198.63. It was currently trading above $17,000.

8:51 AM

EMKAY GLOBAL ON GUJARAT POLL OUTCOME AND IMPACT ON MARKETS
 
Emkay Research commissioned a digital survey across Gujarat’s prominent cities to gauge the electorate sentiment ahead of the state election, with a special focus on the impact of GST dislocations and demonetization. The sample was restricted to urban electorate, who have access to digital media, which may have been influenced by the high-decibel digital campaign run by the key political parties
 
Outcome of the survey strengthens our hypothesis, which foresaw increasing leaning of political expediency determining economic policies, viz. doubling of farm income, job creation, boosting of disposable income in the hands of households etc. specifically seen as an aftermath to the above scenario to enhance its efforts to improve success rating for the 2019 general election. We remain tilted towards Consumption, Rural and Agri theme and expect a bigger push in the next two Union Budgets.

8:49 AM

Foreign brokerages expect bull run to continue in 2018
 
Foreign brokerages forecast the benchmark Nifty to deliver returns of more than 15 per cent by December 2018.  Equity strategists are basing their expectation on strong corporate earnings recovery, supportive global economic growth, and gradual improvement in business sentiment
 
CLICK HERE FOR THE FULL STORY

markets, stocks, sensex, nifty, bse, nse
Photo: Shutterstock

8:47 AM

SGX Nifty
 
The Nifty50 futures on the Singapore Stock Exchange were trading 15 points higher at 10,216 indicating a positive opening for the domestic market.

8:47 AM

Derivative Strategy for Nagarjuna Construction by HDFC Securities
 
Buy Nagarjuna Construction(NCC) December 125 call at Rs 4.35
 
Stop loss: Rs 3
Target: Rs 7
 

8:47 AM

Asian Shares Rally

Asian shares rallied for a second session on Friday as investors awaited major economic data from China and the United States while marveling at the meteoric ascent of the market’s new crypto-star, bitcoin.
 
Japan's Nikkei led the way again with an early gain of 0.9%, adding to Thursday's 1.45% bounce.
 
Australian stocks put on 0.4% while MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.1%.

8:46 AM

Nifty outlook and top trading ideas from Prabhudas Lilladher
 
Nifty has made a U-turn getting its daily trend turned up after 6 days; however Nifty needs to cross 10,200 levels for further target of 10,280-10,350. The support for the day is seen at 10,120 while resistance is seen at 10,220. This still continues to be a bounce back rally till we see some confirmation above 10,350.
 
BUY ASIAN PAINTS      
CMP: Rs 1,144.40      
TARGET: Rs 1,245      
STOP LOSS: Rs 1,100
 
The stock has given a decent correction from the  peak of 1200 levels and now has bottomed out at 1099 and produced a positive bullish candle pattern in the daily chart to signify potential and strength to rise further in the coming days. The RSI has hit the oversold area and has indicated a steep rise with a trend reversal thus signaling a buy in this stock. The volume activity has been tremendous in the recent times and thus we recommend a buy in this stock for an upside target of 1245 keeping a stop loss of 1100

(All prices in Rs) 

CLICK HERE FOR MORE

8:46 AM

US markets end higher
 
Wall Street rose on Thursday, buoyed by popular technology companies including Facebook and Alphabet. The Dow Jones Industrial Average rose 0.29% to end at 24,211.48 points, while the S&P 500 gained 0.29% to 2,636.98. The Nasdaq Composite added 0.54% to 6,812.84.

8:42 AM Good Morning!

Welcome to market's live blog. Catch all live market action here

First Published: Fri, December 08 2017. 15:30 IST
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Nifty ends above 10,250, up 1.4% for the week; Sensex ends 301 pts higher

All that happened in the market today

All that happened in the market today
Benchmark indices rose for the second straight session on Friday amid hopes the ruling Bharatiya Janata Party (BJP) would win critical state elections in Gujarat beginning this weekend, while automakers gained on reports of an expected price hike next year.

The election in Prime Minister Narendra Modi’s home state is a key test for the BJP, ahead of general elections in 2019. The results will be out later this month.

According to polls, the BJP could win, but with a reduced majority - an outcome that would still soothe investors, who are hoping for more political stability and have largely welcomed Modi’s reform agenda.

Globally, rallied for a second session on Friday as economic from and Japan beat all expectations while bitcoin, the market’s new crypto-star, tumbled more than 10 percent after a meteoric ascent in recent weeks.
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Business Standard
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Nifty ends above 10,250, up 1.4% for the week; Sensex ends 301 pts higher

All that happened in the market today

Benchmark indices rose for the second straight session on Friday amid hopes the ruling Bharatiya Janata Party (BJP) would win critical state elections in Gujarat beginning this weekend, while automakers gained on reports of an expected price hike next year.

The election in Prime Minister Narendra Modi’s home state is a key test for the BJP, ahead of general elections in 2019. The results will be out later this month.

According to polls, the BJP could win, but with a reduced majority - an outcome that would still soothe investors, who are hoping for more political stability and have largely welcomed Modi’s reform agenda.

Globally, rallied for a second session on Friday as economic from and Japan beat all expectations while bitcoin, the market’s new crypto-star, tumbled more than 10 percent after a meteoric ascent in recent weeks.

image
Business Standard
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