Indices end nearly 1% higher, Nifty at 10,583; realty, auto stocks surge

All that happened in the market today.

3:50 PM

Market rundown by Nikhil Kamath, Co-Founder and Head of Trading, Zerodha

"Markets opened the day higher for the session on the back of positive global cues and an upbeat global outlook.The American indices closed higher by over a percent on Friday, and we seemed to follow them to open higher in trade on Monday.

 

IT and Pharma took a break from having rallied over the past few sessions and were weak in trade today, Auto and banks outperformed and held up for the session."

3:43 PM

Second highest sectoral gainer: Nifty Auto

3:41 PM

Top sectoral gainer: Nifty Realty

3:37 PM

Sectoral Trend

3:37 PM

Sensex top losers and gainers

3:33 PM

Market at close

 

The S&P BSE Sensex ended at 34,446, up 304 points while the broader Nifty50 index settled at 10,583, up 92 points.

3:21 PM

Realty shares in focus; Nifty Realty index up nearly 4%

Shares of real estate companies were in focus with the Nifty Realty index surging nearly four per cent on the National Stock Exchange (NSE), on back of strong rally in Oberoi Realty and Prestige Estates. READ MORE

3:20 PM

Statsguru: India Inc's revenue growth perks up in Q3FY18

The net sales of more than 3,000 companies analysed by Business Standard grew by 10.1% in the third quarter of 2017-18, up from 7.2% in the previous quarter. Excluding those of oil companies, banks, and other financial firms, net sales rose by 9.1% in Q3FY18, up from 6.3% in the previous quarter. CLICK HERE FOR FULL STORY

3:16 PM

Tata Elxsi moves higher on pact with Zee's digital platform

 

Tata Elxsi was up 2.6% to Rs 1,046 on BSE after the company partnered with digital entertainment platform of Zee Entertainment Enterprises for front-end applications. ZEE5, the newly launched digital entertainment destination by Zee Entertainment Enterprises (ZEEL) has partnered with Tata Elxsi for its front-end applications.

3:13 PM

UPL rises after subsidiary approves fund raising

 

UPL gained 2.22% to Rs 715.65 on BSE after the company said that its wholly-owned subsidiary, UPL Corporation approved the proposal to launch an offering of US dollar denominated senior unsecured notes. The announcement was made during market hours today. The notes are proposed to be listed on the Singapore Stock Exchange. 

2:59 PM

Sectoral Trend

2:56 PM

Bad news for Gitanjali, PNB, OBC: Few scam-related stocks regain lost glory

Nearly a dozen companies that have been named in various scams, frauds or price rigging at the bourses in over two decades have lost over 90 per cent of their market value from their all-time high levels, data show. READ MORE

2:41 PM

News Watch KG block production may be delayed due to GST-like policy changes: ONGC

Oil producer ONGC has said it may miss the June 2019 target for starting production from its Krishna Godavari basin block due to new policies like GST and local purchase preference rules, including the one that mandates state-owned firms to source domestic iron and steel for an infrastructure project. READ MORE

2:29 PM

MUST READ Address ownership issue: Functioning of PSBs seeks urgent corrective action

The crisis in public sector banks is the result of many factors. The finance minister has rightly stressed the role of auditors, regulators, bank managements themselves, and, of course, businessmen. What is missing in this list is the government itself, which is the primary shareholder in these banks, as well as the authority that appoints and dismisses bank managements. CLICK HERE FOR FULL STORY

2:27 PM

Market Check

 

S&P BSE Sensex	34,420.81		0.82%
Nifty 50	10,582.50		0.87%
S&P BSE 200	4,623.92		0.84%
Nifty 500	9,331.85		0.87%
S&P BSE Mid-Cap	16,678.81		0.71%
S&P BSE Small-Cap	18,158.10		0.90%

2:15 PM

From US tax laws to BEAT, Indian firms are preparing for global tax reforms

It is that time of the year when most chief finance officers, along with team members, go on an overdrive to make financial accounts match for the March 31st year-end deadline. Some questions that many CFOs of companies with overseas presence are asking tax experts are: How do we disclose in the impact of the recent changes in the US tax laws? Or will Brexit – the event capturing Britain’s exit from the European Union – have any tax implications on Indian businesses operating out of the UK? Do US MNCs operating out of India need to re-work their tax outgo? CLICK HERE FOR FULL STORY

2:04 PM

Vedanta up for a third straight session today

 

Vedanta is up for a third straight session today. The stock is quoting at Rs 344.25, up 1.88% on the NSE. Meanwhile, Nifty Metal index of which Vedanta is a constituent, has slipped around 1.65% in last one month and is currently quoting at 4028.8, up 1.08% on the day. The volume in the stock stood at 59.35 lakh shares today, compared to the daily average of 116.41 lakh shares in last one month.

2:01 PM

Sensex top losers and gainers

1:45 PM

Aurobindo Pharma rose for a third straight session today

 

Aurobindo Pharma rose for a third straight session today. The stock is quoting at Rs 609.5, up 1.26% on the day as on the NSE. 

Meanwhile, Nifty Pharma index of which Aurobindo Pharma Ltd is a constituent, has dropped around 5.61% in last one month and is currently quoting at 9095.4, down 0.14% on the day.

1:43 PM

MUST READ CIL has to shape up: Privatising coal mining to create window for investors

The Cabinet Committee on Economic Affairs (CCEA) took a brave decision last week when it cleared private participation in coal mining via an auction methodology. This is a big step forward, given the scandals during the UPA regime when captive coal blocks were allotted to various companies. The CCEA removed restrictions wherein only power and metals companies could bid for blocks. READ MORE

1:30 PM

Crude oil hits nearly three-week high as Saudi Arabia to keep output well below cap

Oil prices extended gains to hit their highest level in nearly three weeks on Monday, supported by comments from Saudi Arabia that it would continue to curb exports in line with the OPEC-led effort to cut global supplies.

Prices were supported after Saudi Arabian oil minister Khalid al-Falih on Saturday said the country’s crude production in January-March would be well below output caps, with exports averaging below 7 million barrels per day (bpd).

 

Saudi Arabia hopes OPEC and its allies will be able to relax production curbs next year and create a permanent framework to stabilise oil markets after the current supply cut deal ends this year, Falih added.

1:21 PM

HAL, ICICI Securities among several firms lining up Rs 250-bn public offers

The IPO lane seems to get busier as over two dozen companies have lined up initial share sale plans worth Rs 250 billion in the coming months, largely to fund their expansion projects and working capital requirements.
 

Hindustan Aeronautics, ICICI Securities, Barbeque-Nation Hospitality and Flemingo Travel Retail are among the names that plan to launch share-sale offers in the coming months. READ MORE

1:16 PM

News Watch: Maharashtra sugar mills owe cane farmers Rs 25 bn due to low sales

The crashing of sugar prices in the wholesale market, and lower sales, has resulted in mills owing Rs 25 billion (Rs 2,500 crore) to cane cultivators across Maharashtra, an official from the state cooperation department said. READ MORE

1:04 PM

Green shoots? At 6.9%, Q3 likely to see best GDP growth rate in FY18: Poll

India's economy grew at its fastest pace in a year in the October-December quarter as consumers, businesses and the government stepped up spending, a Reauters poll predicted.

Gross domestic product grew 6.9 per cent in the October-December quarter from a year earlier, according to the poll of more than 35 economists, taken over the past week. READ MORE

1:01 PM

Market Check

 

S&P BSE Sensex	34,371.03		0.67%
Nifty 50	10,564.25		0.70%
S&P BSE 200	4,620.93		0.77%
Nifty 500	9,321.10		0.75%
S&P BSE Mid-Cap	16,687.00		0.75%
S&P BSE Small-Cap	18,144.32		0.82%

12:57 PM

News Watch: Amid rising NPAs and PNB fraud, PSU banks face credibility crisis

In less than a fortnight, the credibility of public sector banks (PSBs), which commands about 70% share of bank loan market, took a serious hit. And three incidents have contributed to this fracas. READ MORE

12:43 PM

Buzzing stock

Jaypee Infratech was down 2.05% to Rs 13.41 on BSE after IndusInd Bank offloaded 1.10 crore shares of the company at Rs 13.65 per share in a bulk deal on the NSE on Friday, 23 February 2018.

12:27 PM

Reliance Jio edging past incumbents with partnerships on exclusive content

The battle for subscribers market share between incumbent telecom operators Bharti Airtel, Idea Cellular and Vodafone, and Reliance Jio is increasingly shifting towards content driven offerings. Incumbent operators, who are struggling to stand their ground given pricing pressures and regulatory headwinds, are now faced with a content-driven marketplace where the scales are tilting towards Reliance Jio. READ MORE

12:15 PM

IDBI Bank, IndiGo, Persistent Systems hit 52-week highs

IDBI Bank, InterGlobe Aviation (IndiGo), Persistent Systems, Firstsource Solutions and Seamec were among 12 stocks from the S&P BSE 500 and S&P BSE Smallcap index hitting their respective 52-week highs on the BSE in intra-day trade on Monday. READ MORE

12:03 PM

Markets at noon

 

S&P BSE Sensex	34,368.43		0.66%
Nifty 50	10,565.05		0.71%
S&P BSE 200	4,619.85		0.75%
Nifty 500	9,318.05		0.72%
S&P BSE Mid-Cap	16,691.41		0.78%
S&P BSE Small-Cap	18,142.32		0.81%