Nifty ends above 11,050 for the first time, Sensex settles over 36,100

Catch all the market action here

3:48 PM

You can get live updates of PM Modi address to opening session of WEF 2018 HERE

3:43 PM

PSU Banks gains, index up 4%

3:40 PM

Top sectoral gainer: Nifty Metal index

3:40 PM

COMMENT: Arun Thukral, MD and CEO of Axis Securities

 

Barring few overhangs like crude oil at two-year high, inflation at the upper end of RBI’s comfort zone, slight slippage expected on fiscal front in the forthcoming budget, and probable geopolitical risks, we continue to remain bullish on Indian economy and markets over the next 3 to 5-year investment horizon. Given the potential and the growth trajectory, Indian markets have a long way to go. Owing to the sharp rise in the index, we would advise our clients to undertake more due diligence and keep invested in quality stocks

3:37 PM

Sectoral Trend

3:35 PM

Sensex Top gainers and losers

3:34 PM

Markets at Close

 

The NSE Nifty on Tuesday sailed past the 11,000 mark, while the BSE Sensex breached the 36,000 level for the first time after an International Monetary Fund (IMF) report showed India was set to regain the title as the world’s fastest growing major economy in 2018-19.

 

The S&P BSE Sensex ended at 36,139, up 341 points while the broader Nifty50 index settled at 11,083, up 117 points.

3:21 PM

Centre's FY19 capex may rise 16% to Rs 3.6 trn, as pvt sector remains shy

 

Finance Minister Arun Jaitley is looking at yet another year of the Central Government and state-owned companies carrying a bulk of infrastructure spending. The Centre’s capital expenditure for 2018-19 could be at least Rs 3.6 trillion (Rs 3.6 lakh crore), about Rs 510 billion (RS 51,000 crore) or 16 per cent higher than 2017-18 budgeted estimates of Rs 3.09 trillion (Rs 3.09 lakh crore).

 

For PSUs and the Centre combined, the capex target is easily expected to cross Rs 4.2 trillion (Rs 4.2 lakh crore), Business Standard has learnt. This would be the highest for any given year, and would surpass the previous high by a wide margin. READ MORE

3:10 PM

HUL, ITC results decoded: Green shoots begin to show in consumer goods

 

The quarterly performance of majors Hindustan Unilever (HUL) and ITC for the three months ended December 2017 point to a resurgence in the domestic consumer goods market.

 

HUL reported an 11% volume and revenue growth, respectively for the December quarter, while ITC reported a nearly 12% revenue growth in its other FMCG business for the period. The company does not report quarterly volume growth for this business, which excludes cigarettes. It includes foods, personal care, lifestyle & retail and education and stationary products. CLICK HERE FOR FULL STORY

3:02 PM

ONGC nears 52-week high; stock up 7% in two days post HPCL deal

 

Oil and Natural Gas Corporation (ONGC) was up 4% to Rs 208, extending its Monday’s 3% gain on BSE, after the company said it will acquire the 51.1% government stake in Hindustan Petroleum Corporation (HPCL) at a cost of Rs 369.15 billion.

 

The stock is trading close to its 52-week high of Rs 212 touched on January 31, 2017 in intra-day trade. READ MORE

3:00 PM

Markets at 3pm

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,089.38	+291.37	+0.81
S&P BSE SENSEX 50	11,551.31	+99.89	+0.87
S&P BSE SENSEX Next 50	37,367.68	+314.04	+0.85
S&P BSE 100	11,534.41	+99.75	+0.87
S&P BSE Bharat 22 Index	3,875.54	+54.63	+1.43

(Source: BSE)

3:00 PM

IDBI Capital on Century Plyboards

 

We believe Century's earnings are at an inflection point given that its capex cycle is nearly complete. Century ticks most boxes for a long-term view: A large size, strong brands, backward integration and strong distribution network with significant presence of unorganized players in the industry. We value the stock at a PE multiple of 26.0x on our FY20 EPS estimate to derive a target price of Rs421. We initiate coverage on the stock with a Buy rating

2:59 PM

Comment: B. Gopkumar, ED & CEO , Reliance Securities

 

The Sensex added a thousand points in just 4 trading days to cross 36,000 as FIIs turned net buyers. Nifty too breached the 11,000 mark with noticeable contribution from the IT sector, private banks and Reliance Industries. No major earnings disappointments reported so far and we seem set for an earnings recovery after 5 consecutive flat years. 

 

Markets will look to consolidate gains after the Budget, and hence actual earnings performance from companies becomes crucial for this rally to sustain over the medium term. We remain positive on IT, private banks, consumer and cement. Select pharma stocks too are attractive at the current levels.”  

 

2:44 PM

Bharat Dynamics files IPO with Sebi, 4th PSU going for listing in 2018

 

Defence PSU Bharat Dynamics Ltd has filed draft papers with capital markets regulator Sebi to float an initial public offer.

 

This is the fourth PSU that has approached Sebi for IPO in less than one month. READ MORE

2:33 PM

More joblessness: ILO sees India's unemployment rate rising to 3.5% in 2018

 

India could witness a higher unemployment rate of 3.5% in 2018, a little more than the 3.4% projected earlier, the International Labour Organisation (ILO) has said in its latest report.

 

The unemployment rate in the country will stand at 3.5% in 2018 and 2019 – the same level of unemployment seen in 2017 and 2016, the ILO’s ‘World Employment and Social Outlook: Trends 2018’ report said. In its 2017 report, the ILO had projected unemployment rate in India at 3.4% in 2017 and 2018. The ILO said the unemployment rate at a global level would decline for the first time in three years. CLICK HERE FOR FULL STORY

2:16 PM

Rane (Madras) zooms 20% on robust Q3 results

 

Rane (Madras) is locked in the upper circuit of 20% at Rs 863, also its all-time high on BSE, after the company reported four-fold jump in net profit at Rs 142 million in December 2017 (Q3FY18) quarter.

 

The company, a leading manufacturer of steering and suspension products and die casting components, had profit of Rs 34 million in the same quarter year ago. Read more

2:08 PM

Market check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,096.53	+298.52	+0.83
S&P BSE SENSEX 50	11,560.30	+108.88	+0.95
S&P BSE SENSEX Next 50	37,306.32	+252.68	+0.68
S&P BSE 100	11,538.42	+103.76	+0.91
S&P BSE Bharat 22 Index	3,874.63	+53.72	+1.41

(Source: BSE)

1:59 PM

World Bank needs to restore the credibility of 'ease of doing biz' rankings

 

The World Bank’s chief economist, Paul Romer, kicked up a storm a couple of weeks ago when, in an interview to The Wall Street Journal, he claimed that the bank’s flagship ranking, mapping the ease of doing business across the world, was unfairly manipulated.

 

Since the time they were launched in 2003, the Doing Business rankings were typically treated with great respect, with several national governments making it one of their top priorities to move up the ladder. CLICK HERE FOR FULL STORY

1:44 PM

Reliance Industries zooms 95%; 10 Sensex stocks rally over 50% in one year

 

Reliance Industries (RIL) hit a new high of Rs 990 on Tuesday, rallying 95% in past one year from Rs 507 level on December 23, 2017.

 

The market capitalisation of RIL touches Rs 6.25 trillion after 8% surge in market price in past three trading session post December quarter (Q3FY18) results. RIL is likely to be the first Indian company to touch the $100 billion market capitalisation mark. READ MORE

1:31 PM

Indian Oil gains 4% on bonus issue proposal

 

Indian Oil Corporation (IOC) was up 4% to Rs 399 on BSE in intra-day trade on Tuesday after the company announced the board may consider issue of bonus shares in its forthcoming meeting on January 30, 2018.

 

This is further to our letter dated 17th January, 2018 notifying that a board meeting of the Company is scheduled on Tuesday, the 30th January, 2018, to consider and approve the unaudited financial results of the company for the third quarter ended 31st December, 2017.

 

It is further notified that the board of directors of the Company may consider issue of bonus shares in the aforesaid board meeting, IOC said in a regulatory filing. READ MORE

1:18 PM

Netflix crosses $100-bn m-cap as subscribers surge due to content strategy

 

Netflix Inc snagged 2 million more subscribers than Wall Street expected in the final three months of 2017, tripling profits at the online video service that is burning money on new programming to dominate internet television around the world.

 

The results drove Netflix to a market capitalisation of more than $100 billion for the first time. Shares jumped 9 per cent to over $248 in after-hours trading on Monday after rallying throughout the month and rising 53 per cent last year.

 

The company has signed up more than half of all US broadband households and is building its customer base in 190 countries by spending billions on programming. READ MORE

1:02 PM

Market Check

S&P BSE Sensex	36,093.42		0.83%
Nifty 50	11,086.80		1.10%
S&P BSE 200	4,876.21		0.86%
Nifty 500	9,883.30		0.98%
S&P BSE Mid-Cap	18,056.69		1.01%
S&P BSE Small-Cap	19,675.75		0.35%

12:46 PM

S&P expects India to lead infra investments in South Asia: Key highlights

 

South and south-east Asian (SSEA) countries will see the emergence of strong regional infrastructure companies given the spending growth in these economies, said ratings agency S&P.

 

According to S&P Global Ratings, some of the world's most intensive infrastructure investments will take place in SSEA countries and, therefore, capital expenditure (capex) will be a key driver of credit ratings among infra players. READ MORE

12:32 PM

Money laundering by Indians via foreign markets: Sebi probe hits hurdle

 

Sebi’s investigation into money laundering by Indian nationals through foreign capital markets seems to have hit a hurdle. According to sources, the Indian regulator has sought several key pieces of evidence from foreign agencies, but a majority of these requests have been pending for months, stalling further investigations.

 

In many of the cases, foreign regulators are also reluctant to share information, especially the bank account details. Legal experts say Sebi has agreements with market regulators of 30 countries and can directly approach them for market-related information. However, documents like bank account statements and proofs of identity cannot be obtained from market regulators, so diplomatic channels have to be followed. Even for those countries whose regulators have arrangement with Sebi, there is no obligation to honour Sebi’s requests. READ MORE

12:20 PM

Equirus on DB Corp

 

Post 3Q results, we have pared our FY18/FY19 EPS estimates by 13%/12% on weaker-than-expected revenue and margins. However, we maintain LONG rating as we continue to expect Ad recovery from 4QFY18. We roll over to a Mar’19 target price of Rs 430 (Dec’18 target price of Rs 460 earlier) set at 11x EV/EBITDA on our TTM Mar’19 estimates.

12:15 PM

Jubilant Foodworks: More gains ahead for the stock

 

Jubilant Foodworks gained 19% in two trading sessions after a strong performance in the December quarter and expectation of a strong earnings growth trajectory. The biggest trigger for the stock was the 17.8% same-store sales growth, the highest in nearly five years. This was way above the 10% growth that most analysts had estimated.

 

With the company indicating a flat industry growth, it means that Jubilant is gaining market share at the expense of unorganised players post the implementation of the goods and services tax. Given higher value proposition for its products, this too seems to have led to improved demand. CLIK HERE FOR FULL STORY

12:15 PM

YES Securites on markets

The current market euphoria can continue at least till the union budget led by the strong consumption pattern and better-than-expected performance from the IT and Banking companies specially the private sector banks

12:03 PM

Aviation shares gain; Jet Airways up 5% in intra-day

 

Shares of all three listed aviation companies – Jet Airways (India), InterGlobe Aviation (which run IndiGo) and SpiceJet – rallied 5% on BSE in intra-day trade after the domestic air traffic first time cross the 100-million mark in 2017.

 

Jet Airways (India) has surged 5% to Rs 824, while InterGlobe Aviation was up 4% to Rs 1,244, and SpiceJet by 2% at Rs 125 on BSE in intra-day deal on Tuesday. READ MORE

11:46 AM

Sectoral Trend

11:31 AM

IT, Metal, Capital Goods, Realty outperform in Sensex's 3000-point rally

 

Shares of information technology (IT), metal, capital goods and real estate sector have outperformed the market in the Sensex's nearly 3,000-point rally in the past 28 trading days.

 

Since December 13, 2017, the benchmark hits its recent low before results of Gujarat state elections, the S&P BSE Sensex surged 2,999 points or 9% from 33,053 levels. The benchmark index hit a new high of 36,052 on Tuesday in intra-day trade. CLICK HERE FOR FULL STORY