Nifty ends above 10,600 for first time ever, Sensex at record closing high

All that happened in the market today

3:37 PM

Sectoral Trend

Source: NSE

3:35 PM

Top Sensex gaienrs and losers

Source: BSE

3:33 PM

Markets at Close

Benchmark indicesend at record closing high with S&P BSE Sensex up 198 points at 34,352 while the broader Nifty50 index settled at 10,623, up 64 points

3:18 PM

Buzzing Stock

Sadbhav Infrastructure Projects shares gained 6 percent intraday following good growth in toll revenue collection.

 

Toll revenue received from its 10 operational special purpose vehicles (apart from NSEL which is an annuity project) stood at Rs 261.72 crore in Q3FY18, higher by 9 percent on sequential basis.

 

The company reported toll collection at Rs 240.17 crore in Q2FY18.

3:02 PM

Three companies to consider share buyback today; six to get nod in a month

 

The board of directors of three companies, Aarti Drugs, SJVN and Unichem Laboratories will meet today to consider share buyback.

 

The board of directors of six companies – Orbit Exports, Pidilite Industries, eClerx Services, Aarti Industries, Lovable Lingerie and Gandhi Special Tubes – approved buyback plans aggregating nearly Rs 958 crore in the past one month. Read More

2:55 PM

Sectoral Indices (NSE)

Sectoral Indices (NSE)

2:34 PM

Market Check

 

S&P BSE Sensex	34,328.58		0.51%
Nifty 50	10,608.35		0.47%
S&P BSE 200	4,738.18		0.56%
Nifty 500	9,626.95		0.56%
S&P BSE Mid-Cap	18,240.65		0.94%
S&P BSE Small-Cap	19,873.04		0.85%

2:15 PM

Federal Bank vaults after large bulk deal

 

Federal Bank gained 3% to Rs 114.95 on BSE after a large bulk deal of 47.80 lakh shares was executed on the scrip at Rs 114.75 per share at 12:05 IST on BSE.

2:02 PM

Prakash Industries hits 52-week high

 

Prakash Industries has moved higher to its fresh 52-week high of Rs 224, up 9 per cent on BSE in noon deal, after the company reported 5.8 times jump in net profit at Rs 1 billion in December quarter (Q3FY18). It had profit of Rs 117 million in Q3FY17.

 

Prakash Industries primarily engaged in steel business said the growth of profitability was on the back of better sales realisation, higher volumes and major cost savings. READ MORE

1:45 PM

Budget 2018 needn't be populist

 

A view, currently shared by a large number of people, is that the Union government’s Budget for 2018-19 will be populist. The argument is that this will be the last full Budget of the Modi government in its current tenure.

 

Hence, it will make sense for Finance Minister Arun Jaitley to dole out freebies and concessions in his final Budget in an attempt to woo voters Such assumptions are flawed, based as they are on an incomplete and outdated understanding of the factors that influence the making of the Budget. READ FULL OPINION 

1:30 PM

Buzzing stock 

 

Satin Creditcare Network (SCNL) soared 18% to 512, its fresh 52-week high on BSE in noon deal trade, after the company said Kora Management LP (Kora) – a global emerging markets investment firm – has made an equity investment of Rs 80 crore in SCNL to support the company’s growth and digital initiatives as a financial services provider to rural and semi-rural India. READ MORE

1:19 PM

Buzzing stocks 

Manappuram Finance, Larsen & Toubro (L&T), Titan Company, Bharat Forge, Biocon, JSW Steel, Unichem Laboratories and Dabur India were among 34 stocks from the S&P BSE500 index hitting their respective new highs on BSE on Monday.

 

The stock of microfinance company Manappuram Finance rallied 5% to Rs 126, surpassing its previous high of Rs 125 touched on December 29, 2017 in intra-day trade. READ FULL REPORT

1:02 PM

Market Check

 

S&P BSE Sensex	34,354.51		0.59%
Nifty 50	10,618.25		0.56%
S&P BSE 200	4,740.87		0.61%
Nifty 500	9,633.25		0.62%
S&P BSE Mid-Cap	18,237.79		0.93%
S&P BSE Small-Cap	19,903.64		1.01%

12:48 PM

Why the Indian economy faces an ominous New Year in 2018

 

You’d think the Indian economy had returned to rosy health. It seems to have recovered from two enormous disruptions -- Prime Minister Narendra Modi’s decision just over a year ago to withdraw 86 percent of the currency in circulation, and the poorly-planned rollout in the middle of 2017 of a new goods-and-services tax. Exports are no longer declining, as they had for several quarters; indeed, for the last month that data is available, they rose 30 percent. The Purchasing Managers’ Index expanded the fastest it has in five years. At least one international ratings agency has upgraded India’s credit rating.

 

Most importantly, growth sped up last quarter for the first time since early 2016. There’s every reason to think it’ll bounce back towards the 7-7.5 percent range shortly. READ MORE

12:34 PM

Quarterly preview: Markets to see sustainable earnings growth after years

 

As a new year beckons upon us and as we reflect nonchalantly over the stupendous returns that the markets have delivered in the year gone by, it is time to introspect and reflect upon what the markets can deliver in the quarters to come. 

 

There is a silent anticipation and an inbuilt optimism about earnings recovery, which is expected to start taking shape beginning this quarter. This is expected to pave the way for a sustainable earnings growth that has been eluding the markets over the past few years. Albeit, when one compares this quarter’s numbers against last year’s numbers, the obvious assumption of a low base due to the ripple effects caused by demonetisation (last year working in favour of the reported numbers) shall be evident - both - on an absolute and relative basis.  READ MORE

12:15 PM

Street signs: Outlook for banking stocks remains positive, say experts

 

The outlook for the Bank Nifty remains positive with experts anticipating a move towards 25,750-25,950 for the index in the January series. Private sector banks HDFC and Axis have seen a significant build-up of long positions and are expected to outperform. Public sector banks' woes, however, are expected to continue. Read More

12:00 PM

HDFC Standard Life up 11% in three days; hits highest level since listing

 

The stock is trading at its highest level since listing on November 17, 2017, up 48 per cent against issue price of Rs 290 per share. HDFC Standard Life Insurance Company had raised Rs 87 billion through initial public offer (IPO). Read More

11:45 AM

Sajjan Jindal's JSW Steel may bid for Uttam Galva

 

Sajjan Jindal’s JSW Steel is likely to bid for Uttam Galva Steels, which is in the process of being referred to the National Company Law Tribunal (NCLT) from the Reserve Bank of India’s (RBI’s) second list (28 entities) of big defaulters. “There is synergy with our Dolvi plant in Maharashtra; both plants are near each other,” a JSW official said. Uttam Galva is also a customer of JSW.

 

Sometime last year, it had entered into a long-term raw material supply agreement with JSW. READ MORE

11:30 AM

Market Check

 

S&P BSE Sensex	34,361.29		0.61%
Nifty 50	10,615.60		0.54%
S&P BSE 200	4,740.79		0.61%
Nifty 500	9,627.20		0.56%
S&P BSE Mid-Cap	18,220.78		0.83%
S&P BSE Small-Cap	19,863.14		0.80%

11:18 AM

Pharma shares gain; Sun Pharma hits seven-month high

 

Shares of pharmaceutical companies were in focus with most of the frontline stocks trading higher in the range of 2% to 8% on BSE.

 

Sun Pharmaceutical Industries, Wockhadrt, Biocon, Ipca Laboratories, Glenmark Pharmaceuticals, Lupin and Cadila Healthcare were up more than 2% on the National Stock Exchange (NSE). READ MORE

10:59 AM

Goa Carbon hits the roof after turnaround Q3 result

 

Goa Carbon was locked in 5% upper circuit at Rs 1,061.05 on BSE after the company reported net profit of Rs 22.50 crore in Q3 December 2017 as compared to net loss of Rs 0.93 crore in Q3 December 2016.

10:46 AM

Flows into India's equity mutual funds nearly treble throughout 2017

 

Money was pouring in for India's equity mutual funds (MFs) through 2017. Domestic investors pumped in Rs 1.5 trillion in equity-related MF schemes during the year, making it the best in the sector's history.

 

Large-scale participation from small investors, with systematic investments reaching Rs 60 billion a month, not only helped fund managers counter the selling by foreign investors in stock markets. But it also underlined that domestic investors were clearly shifting from physical assets to financial savings. READ MORE

10:20 AM

How rising oil prices impact govt and aviation industry

 

There have been concerns over rising crude oil prices putting pressure on the Budget, but more worrying could be an impact on industry, especially aviation, since its cost of operations is steadily going up. The benchmark Indian crude oil basket crossed $66 a barrel last week.

 

Aviation turbine fuel is at a three-year high of Rs 57,349 a kilolitre, while the diesel price is at an all-time high of Rs 60.12 a litre (both for Delhi). With little fiscal room available for the government to manoeuvre on duties, the days of high-fuel cost are threatening to be back again. READ MORE

10:05 AM

Sobha hits fresh 52-week high post Q3 operational update

 

Sobha surged 14% to Rs 687, also its fresh 52-week high on BSE in early morning trade, after real estate firm reported 92% jump in sales bookings to Rs 751 crore during the quarter ended December 2017 (Q3FY18) on higher volumes and better average realisation. It had sold properties worth Rs 391 crore in the year ago period.

 

Sobha sold 933,365 sq ft (square feet) area during the third quarter, up 52% from 6,13,652 sq ft in the same period last fiscal, the company said in Q3 operational update.

 

The average price realisation increased to Rs 8,045 per sq ft from Rs 6,369 per sq ft during the period under review, it added.

9:52 AM

Dream Gateway Hotels to take IPO route to expand Kolkata Holiday Inn

 

Dream Gateway Hotels Ltd, an arm of Kolkata-based real estate developer Jain Group, is planning to dilute 25 per cent stake with its maiden IPO on BSE's small and medium enterprise platform by March 2018.

 

The company operates the Holiday Inn hotel in Kolkata under a management contract with Intercontinental Hotels Group.

 

"We are at an advanced stage of launching an IPO and the issue will be completed over the next two months," Dream Gateway director Rishi Jain told PTI. READ MORE

9:37 AM

These top six stocks in BSE100 index could outperform in 2018

 

The markets had a good year in 2017, with indices like the BSE Sensex and Nifty 50 gaining 28-29 per cent and broader indices gaining even more. While this is good, it pales in comparison to the star performers of the year, as these stocks more than doubled investors’ money over the same period.

 

However, while this performance is unlikely to be maintained in the current year, analysts believe there is still steam left in the top performers.

 

Click here for thr stocks

9:26 AM

All sectoral indices trade in green

Source: NSE

9:25 AM

Top Sensex gainers and losers

Source: BSE

9:21 AM

Broader Markets

Smallcap and Midcap indices were also trading at all-time high. BSE Midcap and BSE Smallcap indices were trading 0.7% and 0.8% higher  respectively

9:20 AM

Markets Open

Sensex opens at record high of 34,332, up 178 points, surpassing the previous high of 34,175.21. Nifty also opened at record high, breaching 10,600 for the first time ever. It was trading at 10,600, up 41 points