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Sensex ends 116 pts higher, Nifty settles above 10,150; Airtel up 5%

Catch all that happened in the market here

SI Reporter  |  New Delhi 

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Benchmark indices end higher with above 10,150, and up over 100 points ahead of F&O expiry and Infosys earnings due later this week.

hit fresh highs last week and analysts think upcoming corporate earnings will have an impact on the short-term trend. Infosys Ltd and Hindustan Unilever Ltd will report results on Tuesday and Wednesday, respectively.

Telecom stocks were in focus after Reliance Jio raised data tariffs last week, signalling more pricing discipline in the sector, while strong global also boosted sentiment.

Japanese shares jumped on a weaker yen as an election win for Shinzo Abe’s ruling bloc gave a green light for more policy stimulus.

3:48 PM

Market rundown by Anand James, Chief Market Strategist at Geojit Financial Services 
 
NPA worries continue to cloud markets’ upside prospects, firm global peers as well as centre's plan to infuse new funds to PSU banks supported the banking stocks and gave impetus to the indices later in the afternoon, while also signs of price rationalisation lifted telecom stocks.

3:42 PM Nifty Chart for the day

Source: NSE

3:41 PM Telecom shares rallied post Jio tariff hike plan

Source: BSE

3:38 PM Nifty IT gains ahead of Infosys results

Source: NSE

3:37 PM Nifty Bank snaps 3-day rally

Source: NSE

3:35 PM Tos Sensex gainers and losers

Source: BSE

3:34 PM Broader markets

In broader markets, BSE Midcap index was in line with the frontline indices, up 0.45% while the BSE Smallcap index was a little changed

3:33 PM Markets at close

The S&P BSE Sensex ended at 32,506, up 116 points while the broader Nifty50 index settled at 10,184, up 38 points

3:18 PM Sectoral Trend

Nifty
Source: NSE

3:08 PM

HSBC appoints Jayant Rikhye as CEO India
 
The Hongkong and Shanghai Banking Corporation (HSBC) on Monday appointed Jayant Rikhye as the Chief Executive Officer for India operations. He will take charge on December 1 and will be succeeding Stuart Milne, who has held the position for five years. 
 
Rikhye joined the bank in 1989 and is currently the head of international markets, Asia Pacific. 

3:00 PM Market check at 3 pm

Source: BSE

2:56 PM

Bharti Airtel set to join Rs 2-lakh cr market-cap club after a 10-year gap
 
Bharti Airtel is set to join the elite league of corporate entities with a market value of over Rs 2 lakh crore after a gap of 10 years.
 
The stock surged 6% to Rs 501 on BSE in intra-day trade on Monday after the media reports suggested that the analyst at Morgan Stanley upgraded the recommendation on Bharti Airtel to overweight from equal-weight. READ MORE

Bharti Airtel, Airtel

2:46 PM Earnings

Consumer electrical goods maker Havells India today reported a standalone net profit of Rs 171.02 crore for the quarter ended on September 30, 2017, on account of higher income.
 
The company had posted a net profit of Rs 145.79 crore during the same period previous fiscal, Havells India said in a regulatory filing.

2:34 PM

Zuari Agro rallies 20% on healthy earnings
 
Profit grew multi-fold to Rs 53.5 crore in Q2, compared with Rs 0.3 crore in same quarter last fiscal, driven by sharp rise in revenue and operational income.
 
Revenue shot up 87 percent year-on-year to Rs 1,315 crore while operating profit jumped to Rs 127.5 crore from Rs 33.1 crore and margin expanded by 500 basis points to 9.7%from 4.7% YoY.
 

2:20 PM

HDFC Securities report on Sundaram Finance
 
Buy at CMP and add on declines
 
Sequential Targets: Rs. 1860 & Rs. 2096
CMP: Rs. 1663
 
Sundaram Finance has seen slow growth in top and bottom line over the past three years due to its conscious strategy of conservatism in bad times. This has paid off as the NPA levels are much under control unlike a lot of its peers. The management has built a portfolio of assets over the past few years in the entire financial space whose values may keep rising as India’s economy becomes more formalized and savings are routed to formal financial avenues like Mutual funds, Insurance etc.

2:06 PM

Europe check
 
European markets opened slightly higher, as investors monitored fresh corporate earnings and awaited further developments of Spain's ongoing constitutional crisis.
 
The pan-European Stoxx 600 edged up 0.17% shortly after the opening bell with almost all sectors and major bourses in positive territory.

1:50 PM

BUZZING STOCK
 
Goa Carbon was locked in 5% lower circuit at Rs 767 on BSE on profit booking after gaining 27.6% in the preceding five trading sessions to settle at Rs 807.35 on 19 October 2017, from its close of Rs 632.70 on 12 October 2017.

1:38 PM

HCL Infosystems gains after disclosing rights issue details
 
HCL Infosystems rose 2.9% to Rs 48.9 on BSE after the company said it will raise Rs 499.09 crore from its existing shareholders by way of rights issue.

1:28 PM Nifty Pharma falls nearly 1%

Source: NSE

1:16 PM Infosys has rallied nearly 1% in trade on Monday to Rs 935 levels on the National Stock Exchange (NSE). The company is likely to announce its September quarter results post market hours on Tuesday CLICK HERE TO TRACK THE STOCK PRICE


1:11 PM

Realty shares in focus
 
Shares of real estate companies were trading higher by up to 14% on the BSE in an otherwise subdued market in noon deal trade on expectation of uptick in residential new sales in ensuing quarters across key markets.
 
Sunteck Realty, Sobha, Kolte-Patil Developers, Unitech and Puravankara were up 5% to 14% on the BSE.
 
Kolte-Patil Developers, Puravankara and Sobha were trading at their respective 52-week highs while NBCC (India), Delta Corp and Sunteck Realty hit record highs on the BSE in intra-day trade on Monday.

1:02 PM Markets at 1pm

Index Current Pt. Change % Change
 
S&P BSE SENSEX 32,346.24 -43.72 -0.13
 
S&P BSE SENSEX 50 10,518.63 -15.60 -0.15
 
S&P BSE SENSEX Next 50 34,766.84 +18.13 +0.05
 
S&P BSE 100 10,539.98 -12.04 -0.11
 
S&P BSE MidCap 16,106.14 +29.72 +0.18


(Source: BSE)

1:02 PM BUZZING STOCK

Bhushan Steel hit an upper circuit limit of 20% at Rs 69.80 on BSE after a media report suggested that the global steel giant, ArcelorMittal, showed interest in buying the Indian firm.


12:49 PM

Reliance Industries gains post tariff hike plan

Reliance Jio increased price of its popular 84-day plan by 15% to Rs 459 from October 19, under which subscribers get 1GB 4G data at high speed per day.
 
However, subscribers of Rs 149 plan gets 4GB of data for each billing cycle of 28 days under the new scheme "Diwali Dhamaka" compared to 2GB being offered at present.

12:37 PM Reliance Industries races to $100 billion

 
Reliance Industries (RIL) is likely to be the first Indian company to touch the $100 billion market capitalisation mark. Valued at $91.4 billion at present, the Mukesh Ambani-led company is only 10% away from this landmark. 
 
Thanks to a successful foray into telecom, RIL has seen its shares spurt 68% in 2017. Globally, there are 93 companies in the $100-billion-plus club. RIL is ranked 109 just behind Morgan Stanley. READ MORE

12:36 PM News nugget

The Hongkong and Shanghai Banking Corporation Limited today announced the appointment of Jayant Rikhye as the Chief Executive Officer for HSBC India with effect from 1 December 2017, subject to regulatory approvals

(Source: Company release)

12:34 PM

Kotak Securities recommends SELL on ICICI Lombard
 
ICICI Lombard is poised for earnings and profitability growth with an increase in insurance penetration, better pricing, and improvement in operating efficiency. We expect its combined ratio to improve 290 bps to 101% in FY2017-20E and steady investment income to drive 21-23% medium-term RoE (18% in FY2017). However, current rich valuations (30X EPS and 6.3X book FY2019E) don’t provide any room for inherent volatility in the core risk-underwriting business. We initiate coverage with a SELL rating and a target price of Rs 550 (23% downside).

12:32 PM

Prabhudas Lilladher on UltraTech Cement
 
Ultratech (UTCEM) reported Q2FY18 earnings ahead of our expectation. The key surprise came on account of lower other expenses. Given the lumpiness of cost components and stabilisation of acquired assets underway, we believe that current quarter don’t reflect the steady run-rate of other expenses and hence, we keep our earnings estimates unchanged for FY18E/FY19E. Given the rich valuations and relatively better earnings outlook for its peers, we remain cautious on the stock in medium term. Maintain Accumulate with target price of Rs 4500, EV/EBITDA of 16x FY19E.

12:31 PM NIA's Rs 10,000-cr IPO to hit market in first week of November GET THE DETAILS HERE

12:29 PM

Infosys Q2 preview: What Dalal Street wishes to hear from Nandan Nilekani
 
Infosys will likely cut CC revenue growth guidance for FY18 to 6-7% from 6.5-8.5% announced earlier, said Kotak Institutional Equities CLICK HERE FOR THE FULL STORY

12:22 PM Sectoral trend

Source: NSE

12:07 PM

Telecom shares rally
 
Shares of telecom services providers rallied with Idea Cellular and Reliance Communications up more than 5% each, and Bharti Airtel at eight-year high on the BSE. MTNL, Tata Communications and Reliance Industries, too, were trading higher in the range of 1% to 3% as compared to 0.2% rise in the S&P BSE Sensex.
 
The S&P BSE Telecom index, the largest gainer among sectoral indices, was up 1.6%, hitting record high of 1,624 points in intra-day trade on Monday. READ MORE

Source: BSE


 

11:53 AM

Why investors view bitcoin as a risky investment despite a ten-fold price surge
 
Bitcoin is booming, digital currency hedge funds are sprouting at the rate of two a week and the value of all cryptocurrencies has surged tenfold this year to more than $170 billion.
 
Yet for all the hype, mainstream institutional investors are steering clear of the nascent market, taking the view that it is too lightly regulated, too volatile and too illiquid to risk investing other people's money in. READ MORE

Bitcoin
Bitcoin

11:36 AM

Govt likely to achieve fiscal deficit target of 3.2% in FY18: SBI report
 
The government is likely to achieve its fiscal deficit target of 3.2 per cent this financial year as the budgeted disinvestment receipts are on track to realise Rs 72,500 crore, says an SBI research report.
 
According to the report, though there are predictions that the government is going to have a big revenue slippage in 2017-18 which may impact fiscal deficit numbers, "such projections flunk the test of logical reasoning and are grossly misconstrued". READ MORE

11:24 AM Market Check

At 11:25 am, the S&P BSE Sensex was trading at 32,458, up 68 points while the broader Nifty50 index was ruling at 10,173, up 26 points.

In Broader markets, BSE Midcap gained 0.5% while BSE Smallcap was little changed

11:12 AM

Reliance Nippon AMC IPO: Should you invest?
 
Sticking to its schedule, Reliance Capital is on track to list its asset management arm – Reliance Nippon Life Asset Management (RNLAM). The issue, which would open on October 25, has many positives such as a diversified asset base with strong investment track record. 
 
These attributes have helped RNLAM grow its business profitably. Equally important is its positioning as number three player (11.4 per cent market share, as per ICRA) among asset management companies (AMCs), which is aided by an exhaustive distribution network. 
 
While these pluses augur well, the initial public offering (IPO) priced at 36x FY17 earnings on pre-issue basis and 38x on post-issue basis seem to leave little on the table for those interested in immediate listing gains. The offer may, hence, be best suited for long-only investors. READ MORE

11:04 AM

Gold hits over two-week low as dollar rallies vs yen
 
Gold hit its lowest in over two weeks early on Monday, as the dollar climbed to a more than three-month high versus the yen after Japan's ruling bloc scored a big win in Sunday's election, leaving the door open to ultra-loose monetary policy for longer.
 
Spot gold was down 0.4% at $1,275.70 an ounce, after hitting its lowest since Oct. 6 at $1,273.80 earlier in the session. READ MORE

Gold

10:50 AM

Indian Energy Exchange makes weak debut; lists 9% below issue price
 
Indian Energy Exchange (IEX) has made a weak debut on the bourses by listing at Rs 1,500, a 9% below its issue price of Rs 1,650 on the National Stock Exchange (NSE) and the BSE (Bombay Stock Exchange).
 
However, the stock recovered and was trading at Rs 1,636, a 9% higher against its listing price. It hit high of Rs 1,640 and Rs 1,649 on NSE and BSE respectively. READ MORE

10:31 AM Nifty IT gains ahead of Infosys results

Nifty
Source: NSE

10:20 AM

Why the Street is bullish on Bharti Airtel
 
The Bharti Airtel stock has gained 24 per cent over the past 10 trading sessions, despite the competitive pressure and regulatory headwinds in the telecom segment. 
 
And not just in the recent past, over the past 12 months, too, the stock is up from Rs 307 levels to Rs 471 at Thursday’s close, even while Reliance Jio entered the sector last September and offered free services till recently.  READ MORE

Bharti Airtel
Bharti Airtel

10:11 AM

Assets decline at top fund houses in September
 
Several fund houses reported a decline in their assets under management (AUM) during the month of September. Huge outflows from certain debt schemes and correction in stock prices impacted assets, say industry players.  

While the overall AUM declined one per cent in September over the previous month, several fund houses witnessed a much bigger dent. HSBC Mutual Fund, DHFL Pramerica, LIC Mutual Fund and Axis Mutual Fund saw the steepest double-digit drop in AUM. READ MORE

10:03 AM

India's largest companies cut hiring by 45% in FY17
 
The increase in net employees at India’s largest companies slowed down to 66,000 people in the 2016-17 financial year compared with 123,000 people a year earlier. 
 
At the end of FY17, a total of 3.25 million people were on the rolls of 241 companies of the BSE 500 index versus 3.19 million at the end of FY16. 
 
Data on employee strength was not available for the rest of the BSE 500 index companies. Tata Consultancy Services (TCS), Tech Mahindra, ICICI Bank and Axis Bank were the large employers to lead fresh hiring during FY17. READ MORE

9:51 AM Sectoral Trend: All sectoral indices were trading in green

Nifty
Source: NSE


9:37 AM

Investors should become more selective on mid-caps now: Andrew Holland
 
With the frontline indices ruling near all-time high, ANDREW HOLLAND, chief executive officer of Avendus Capital Alternate Strategies, shares his concerns about the markets from a short-term perspective. The ‘buy on dips’ strategy of domestic investors will be tested on a serious market correction, he tells Puneet Wadhwa.
READ FULL INTERVIEW HERE

Andrew Holland, chief executive officer, Avendus Capital Alternate Strategies
Andrew Holland, chief executive officer, Avendus Capital Alternate Strategies

9:34 AM

Economy watch
 
There are doomsday predictions currently that Government will see a big revenue slippage in FY18 which may impact the headline fiscal deficit numbers. However, such projections flunk the test of logical reasoning and are grossly misconstrued.
 
As per our estimate, there may still be a shortfall of Rs. 1.1 lakh crore in the revenue receipts. To manage the fiscal deficit, Government however needs to cut expenditure substantially. We estimate that Government may cut around Rs. 70,000 crore from the capital expenditure. However, the good news is that budgeted disinvestment receipts are on track to realizing Rs. 72,500 crores. At current trends, it is likely that for the first time after FY10 that disinvestment target is likely to be achieved.
 
Also, the Government has accumulated a total of Rs. 40,491 crore in the National Small Saving Fund during the first five months of this fiscal. The Government could thus receive Rs. 1 lakh crore in small savings in FY18, and would be able to do a buyback of Rs. 75000 crore which was contingent upon that. This in turn implies that the Government would be able to meet its net borrowing target of Rs. 3.48 lakh crore.
 
 
(Source: Report by Dr. Soumya Kanti Ghosh, Group Chief Economic Adviser, SBI)

9:30 AM

Infosys Q2 preview: What Dalal Street wishes to hear from Nandan Nilekani
 
Infosys, the country's second-largest software services firm, is scheduled to report its September quarter numbers on Tuesday post market hours. 
 
The quarter holds significance as this will be the first result announcement after co-founder Nandan Nilekani took charge as the company's new non-executive chairman after the sudden resignation of then CEO Vishal Sikka and the exit of four board members, including then chairman R Seshasayee. 
 
Analysts, at large, believe that more than the Q2 numbers, the management commentary will remain in focus as an update on the company's strategic preferences is crucial at this juncture. 
 
Click here to find what brokerages expect out of Infosys' September quarter numbers

Nandan Nilekani, Nilekani

9:26 AM Nifty Bank snaps 3-day losing streak

Source: NSE

9:24 AM Top Sensex gainers and losers

Source: BSE

9:22 AM Markets at open

Index Current Pt. Change % Change
 
S&P BSE SENSEX 32,599.87 +209.91 +0.65
 
S&P BSE SENSEX 50 10,590.76 +56.53 +0.54
 
S&P BSE SENSEX Next 50 34,874.36 +125.65 +0.36
 
S&P BSE 100 10,605.96 +53.94 +0.51
 
S&P BSE MidCap 16,138.12 +61.70 +0.38


(Source: BSE)

9:20 AM Broader Markets

In broader markets, BSE Midcap gained 0.2% while BSE Smallcap was trading higher by 0.3%

9:20 AM Markets open

Benchmark indices open higher following positive cues from the global markets. F&O expiry and Infosys earnings will drive the market sentiment this week.

At 9:18 am, the S&P BSE Sensex was trading at 32,475, up 86 points while the broader Nifty50 index was ruling at 10,189, up 42 points.

9:06 AM Technical calls from Prabhudas Lilladher

BUY IBREAL ESTATE     
CMP: Rs 215.55     
TARGET: Rs 250     
STOP LOSS: Rs 200
 
The stock has made a higher bottom formation like pattern in the daily chart and the stock looks attractive for an up move while maintaining a good support at around 208-210 levels. The stock has been gathering potential to rise further and we anticipate it reach to the previous level of 258 from here on. With good volume activity seen, we recommend a buy in this stock for an upside target of 250 keeping a stop loss of 200

9:00 AM

Market outlook for the day
 
The markets may see a green start on the back positive Asian cues. Asian stocks were mostly higher as the dollar spiked to more than three-month highs against the yen following a snap election in Japan on Sunday. U.S. stocks posted a sixth straight weekly gain on bets Donald Trump was closer to pulling off one of his biggest legislative priorities after the Senate approved a budget vehicle for tax cuts. 
 
Hindustan Zinc, Nocil, Indiabulls Housing Finance, Havells India, Automotive Stampings, Graphite India, Oriental Hotels, Graphite India, Tinplate Company Of India, Wendt and Zuari Agro to announce their results today. As per provisional figures, foreign institutional investors (FIIs)/ Foreign Portfolio Investors (FPIs) sold shares worth net Rs 43.74 crores on 19th October 2017. Domestic institutional investors bought shares worth Rs 40.78 crores on that day.
 
(Source: SMC Global)

8:58 AM

Top trading ideas for today's trade
 
BUY RECL     
CMP: Rs 159.55       
TARGET: Rs 176    
STOP LOSS: Rs 148
 
BUY BEL     
CMP: Rs 172.65     
TARGET: Rs 192      
STOP LOSS: Rs 164

Click here for rationale

8:55 AM

Nifty outlook by Prabhudas Lilladher
 
Nifty has the level of 10,250 as a strong hurdle to cross; market continues to move sideways with near term support at 10,140. Not much can be expected ahead of long weekend. The support for the day is seen at 10,160 while resistance is seen at 10,250.

8:53 AM

Equinomics view on the economy and markets
 
Global markets are at record highs. US market is on the forefront – gained over 28% yoy, maximum gains among major global markets. Last week, Indian market also moved close to Rs.140 lakh crore of overall market cap. We continue to maintain cautious stance on over-valued mid cap stocks. Next Diwali may not create the kind of wealth created by this Diwali. It may take more than two quarters for the corporate earnings to show strong double-digit profit growth. 
 
Recent recovery in oil and material prices would dampen the margins of many companies. Cumulatively IIP (Index of Industrial Production) still growing around 2% yoy. Slowly the liquidity would be tightened even in the hands of retail investors. Resources mobilized through IPOs hit a record high – fund rising through IPOs has crossed Rs.44,000 crore in 2017. Another Rs.21,000 crore is expected to be mobilized in the remaining months of 2017.
 
We remain positive on the long-term prospects of the economy and markets. We do not expect the benchmark indices like Sensex and NIFTY to correct badly – however, we believe that the kind of overvaluation enjoyed by almost 2/3rd of midcap stocks is unlikely to continue. Hence, we continue to advise investors to be cautious in stock selection.

8:52 AM

Mutual funds pump $12 bn into equities in first six months of FY18
 
Investment by mutual funds in domestic equities touched a staggering $12 billion in the April-September period on strong retail investor interest, even as foreign investors trimmed their exposure.
 
Moreover, fund houses are upbeat over-investment in the stock markets for the remainder of the current fiscal.
 
According to the latest data, fund managers bought shares worth a net Rs 76,906 crore ($12 billion) in the first half of the ongoing financial year, while foreign portfolio investor (FPIs) pumped in just Rs 5,278 crore ($810 million) in equities during the period.

8:51 AM

GLOBAL MARKETS: Japan shares at two-decade top, yen at three-month low on Abe win
 
Japanese shares jumped on a weaker yen on Monday as an election win for Shinzo Abe's ruling bloc gave a green light for more super-easy policy stimulus, while the euro eased as Spain's constitutional crisis aggravated concerns about political unity in the region. The U.S. dollar was the major beneficiary as President Donald Trump and Republicans took a small step toward tax cuts, boosting Wall Street stocks and lifting bond yields. Japan's Nikkei raced up 1 percent to its highest since 1996 after Prime Minister Abe looked to have easily won in national elections over the weekend. CLICK HERE FOR MORE

8:50 AM Top 5 events that will set market tone in the October 23-29 trading week WATCH VIDEO HERE

8:49 AM

Oil prices rise on tightening supply, strong demand
 
Oil prices rose on Monday over supply concerns in the Middle East and as the U.S. market showed further signs of tightening while demand in Asia keeps rising.
 
Brent crude futures, the international benchmark for oil prices, were at $57.90, up 15 cents, or 0.26%, from their last close.
 
US West Texas Intermediate (WTI) crude futures were at $52.13 per barrel, up 29 cents, or 0.56%.

oil prices

8:47 AM

NIA's Rs 10,000-cr IPO to hit market in first week of November
 
New India Assurance (NIA), the largest general insurance company in the country, is set to hit the capital markets with around Rs 10,000 crore IPO in the first week of November.
 
The offer comes soon after the Rs 11,370 crore IPO of GIC Re, which will be listed on October 25. It has already been oversubscribed by over 1.35 times. READ MORE

IPOs

8:46 AM

Over 10 companies to announce Q2 nos today
 
Hindustan Zinc, Wendt, Havells India, Indiabulls Housing Finance, Oriental Hotels, Graphite India, NOCIL, Zuari Global, Tinplate and Zuari are some of the companies that will announce their quarterly numbers today. 

8:44 AM

New listings absorb a tenth of mutual fund flows this year
 
One out of every Rs 10 invested by equity mutual funds this year has gone into companies that have launched their initial public offerings (IPO) in 2017.  In the first nine months of calendar year 2017, fund managers have made a net investment of Rs 89,000 crore, of which Rs 11,300 crore were in newly listed companies.  

While a large portion of the investment has been made at the IPO stage, fund managers have also added more shares to their portfolios after the listing. READ MORE

8:43 AM

GST rate structure needs rejig, says Hasmukh Adhia
 
Some rejig in the rate structure of the goods and services tax (GST) is required to reduce the burden on small and medium businesses, Revenue Secretary Hasmukh Adhia has said.
 
The GST, which amalgamates more than a dozen central and state levies like excise duty, service tax and value-added tax (VAT), will take about a year to stabilise, he told PTI.

8:40 AM

SGX Nifty
 
The Nifty futures on the Singaporean stock exchange were trading higher by around 17 points at 10185 indicating a flat start for the domestic indices 

8:38 AM Japan shares at two-decade high

Japanese shares jumped on a weaker yen on Monday as an election win for Shinzo Abe’s ruling bloc gave a green light for more super-easy policy stimulus, while the euro eased as Spain’s constitutional crisis aggravated concerns about political unity in the region.

Nikkei raced up 1% to its highest since 1996 after Prime Minister Abe looked to have easily won in national elections over the weekend.

8:37 AM

Wall Street hits record highs
 
US stocks hit record closing highs on Friday and the S&P 500 posted a sixth week of gains after the US Senate passed a budget resolution, lifting hopes that President Donald Trump’s tax-cut plan may move forward.
 
The Dow Jones Industrial Average rose 165.59 points, or 0.71%, to end at 23,328.63, the S&P 500 gained 13.11 points, or 0.51%, to 2,575.21 and the Nasdaq Composite added 23.99 points, or 0.36%, to 6,629.05.

8:31 AM Good Morning and welcome  to market's live blog. Catch all the live market action here

First Published: Mon, October 23 2017. 15:31 IST
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Sensex ends 116 pts higher, Nifty settles above 10,150; Airtel up 5%

Catch all that happened in the market here

Catch all that happened in the market here
Benchmark indices end higher with above 10,150, and up over 100 points ahead of F&O expiry and Infosys earnings due later this week.

hit fresh highs last week and analysts think upcoming corporate earnings will have an impact on the short-term trend. Infosys Ltd and Hindustan Unilever Ltd will report results on Tuesday and Wednesday, respectively.

Telecom stocks were in focus after Reliance Jio raised data tariffs last week, signalling more pricing discipline in the sector, while strong global also boosted sentiment.

Japanese shares jumped on a weaker yen as an election win for Shinzo Abe’s ruling bloc gave a green light for more policy stimulus.

image
Business Standard
177 22

Sensex ends 116 pts higher, Nifty settles above 10,150; Airtel up 5%

Catch all that happened in the market here

Benchmark indices end higher with above 10,150, and up over 100 points ahead of F&O expiry and Infosys earnings due later this week.

hit fresh highs last week and analysts think upcoming corporate earnings will have an impact on the short-term trend. Infosys Ltd and Hindustan Unilever Ltd will report results on Tuesday and Wednesday, respectively.

Telecom stocks were in focus after Reliance Jio raised data tariffs last week, signalling more pricing discipline in the sector, while strong global also boosted sentiment.

Japanese shares jumped on a weaker yen as an election win for Shinzo Abe’s ruling bloc gave a green light for more policy stimulus.

image
Business Standard
177 22