Nifty ends above 10,300, up 2% for week, Sensex gains 216 pts; metals shine

All that happened in the market today

3:48 PM

Market rundown with Jayant Manglik, President, Retail Distribution, Religare Securities

 

Markets opened on robust note and managed to end with decent gains, tracking firm local cues. Sentiments boosted mainly in reaction to the exit polls indicating easy win for BJP, in both Gujarat and Himachal Pradesh state elections. Almost all the sectoral indices participated in the move led by metal, realty and auto pack. Sharp decline in the volatility index also helped in smoothen participants' nerves.

 

With all eyes on actual state elections outcome, we expect fireworks in early trades on Monday i.e. on Dec 18. Indications are still favorable but caution is advisable in stock selection, citing excessive volatility. We suggest not jumping into the trade and waiting for the markets to stabilize.

3:38 PM

Metal shares gain, Nifty Metal up 2%

Source: NSE

3:36 PM

Sectoral Trend

Source: NSE

3:34 PM

Top Sensex Gainers and Losers

Source: BSE

3:33 PM

Broader Markets

Broader markets outperformed the benchmark indices with both BSE Midcap and BSE Smallcap indices up over 1%

3:32 PM

Markets at close

Benchmark indices gaiined ground on Friday as investors cheer after the exit polls that released their survey results at the end of the final phase of polling in Gujarat on Thursday evening predicted that the Bharatiya Janata Party (BJP) was set to retain Gujarat and wrest Himachal Pradesh from the Congress.

The S&P BSE Sensex ended at 33,462, up 216 points while the broader Nifty50 index settled at 10,333, up 81 points

3:21 PM

Buzzing Stock

Maruti Suzuki India shares touched a fresh all-time high of Rs 9,237, rising 1.3 percent intraday after the global brokerage house raised target price sharply.

 

While maintaining a buy call on the stock, Citi has increased its price target to Rs 10,600 (from Rs 9,400 per share earlier), implying 16% upside from Thursday's closing price.

3:11 PM

Europe Trade

European stocks moved lower, with sentiment curbed by concerns over plans to overhaul the tax system in the US.

 

The pan-European Stoxx 600 was off by 0.21 percent with most sectors trading in negative territory.

2:59 PM

Buzzng Stock

 

Deepak Fertilizers and Petrochemicals Corporation shares gained 4% intraday after the Arbitration Tribunal has rejected GAIL's claim of Rs 357 crore against the company.

 

The Gas Authority of India had claimed the amount in respect of supply of domestic natural gas for period July 2006-May 2014, alleging usage for manufacture of products other than urea.

2:46 PM

H&M shares tumble on surprise quarterly sales drop

 

Fashion retailer H&M said on Friday sales had fallen during the last three months as fewer shoppers visited its stores, sending its shares plummeting and underlining its struggle to adapt to a shift of business online.

 

Shares in the world’s second largest fashion retailer fell 13 percent to their lowest level since 2009.

2:32 PM

Give your fund manager time to ride out current volatility

 

Currently, dynamic bond funds are displaying wide divergence in their average maturity, in the range of 1.60-13.52 years. With the benchmark 10-year government bond (G-sec) yield having touched a high of 7.19 per cent recently (compared to 6.41 per cent on July 24), one would expect managers of dynamic bond funds to reduce the duration of their funds. READ MORE

2:17 PM

Top Sensex gainers and losers

Source: BSE

2:05 PM

Market Check at 2pm

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,530.83	+284.13	+0.85
S&P BSE SENSEX 50	10,796.94	+97.91	+0.92
S&P BSE SENSEX Next 50	35,495.67	+364.98	+1.04
S&P BSE 100	10,809.28	+100.10	+0.93
S&P BSE Bharat 22 Index	3,714.67	+27.54	+0.75

1:46 PM

Mahindra & Mahindra hits fresh 52-week high

 

Mahindra & Mahindra (M&M) hit a fresh 52-week high of Rs 1,480, up 3.3% on the BSE in noon deal trade, after the company announced that it plans to increase prices of its passenger and commercial vehicles by up to 3% with effect from January 1, 2018. The stock was the top gainer among the S&P BSE Sensex at 12:16 PM.

 

“We have been holding back on price hikes and absorbing the higher input costs for a while, but with the increase in commodity prices we will have to take a price increase,” Rajan Wadhera, President - Automotive Sector, M&M said on the price hike.

 

Meanwhile, the stock will turn ex-bonus on Thursday, December 21, 2017 in the proportion of 1:1, i.e. 1 bonus equity share for every 1 share held as on record date.

 

1:32 PM

HDFC Securities on L&T  Infotech

 

We  attended  L&T  Infotech’s (LTI) Analyst Day, and reiterate our positive hypothesis. Management’s  FY18  revenue  growth  outlook is to   surpass FY17’s revenue growth and PAT% guidance at 14 to 15%, supported by a stable operating margin. We expect revenue/EPS CAGR  of  12/10% over FY17-20E. Revise EPS higher by 4/3% for FY19/20E, and maintain BUY with an  increased target price of  Rs  1,175, 16x Dec-19E EPS (13x earlier). Positives for the company include (1) A favourable delivery mix, (2)  Industry-leading  return  ratios  (highest  in midcap IT), strong cash generation  (100% FCF/PAT) and increasing payout, and (3) Strong leadership bandwidth.

1:29 PM

Top Losers on BSE

Company	Last (Rs)	Chg (%)
Cipla	585.75	-0.85
O N G C	183.05	-0.76
Hind. Unilever	1,314.05	-0.73
NTPC	176.50	-0.42
Power Grid Corpn	199.75	-0.13

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1:22 PM

After Asia's uneven 2017 share rally, laggards may draw inflows

 

While Asia's equity rally this year has been uneven, fuelled by a few large cap and technology stocks, analysts believe money will start flowing into shares that have been overlooked.

 

Thomson Reuters data shows that the biggest 10 percent of listed Asian companies by market capitalization have accounted for 70 percent of this year's rally, with technology and financial stocks seeing the biggest gains. CLICK HERE TO READ MORE

1:17 PM

Bonds, rupee gain after Gujarat exit poll results

 

The rupee strengthened while bond yields inched lower on Friday morning after exit polls showed the country’s ruling alliance would win elections in the prime minister’s home state but caution remained ahead of the actual results.

1:07 PM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,532.20	+285.50	+0.86
S&P BSE SENSEX 50	10,797.34	+98.31	+0.92
S&P BSE SENSEX Next 50	35,479.02	+348.33	+0.99
S&P BSE 100	10,808.83	+99.65	+0.93
S&P BSE Bharat 22 Index	3,712.71	+25.58	+0.69

(Source: BSE)

1:05 PM

Renaissance Jewellery zooms 20% on robust Q2 results

 

Renaissance Jewellery was locked in upper circuit of 20% at Rs 275 on the BSE after the company reported more than doubled net profit at Rs 16.9 crore in September quarter (Q2FY18). It had profit of Rs 7.4 crore in the same quarter year ago.

 

Revenue of the company grew 34% at Rs 384 crore against Rs 286 crore in the corresponding quarter of previous fiscal. Ebitda (earnings before interest, taxes, depreciation and amortization) margin improved to 6.94% from 5.6% in previous year quarter.

 

For the first half (April to September) of the current financial year 2017-18 (FY18), the company has reported 95% year on year (YoY) growth in net profit at Rs 25.8 crore. Revenue grew 36% at Rs 760 crore on YoY basis.

12:43 PM

Sectoral trend

Source: NSE

12:28 PM

$2-bn tax dispute: SC allows Vodafone to hire chairman for 2nd arbitration

 

The Supreme Court on Thursday allowed the government and Vodafone to appoint a chairman for the second arbitration initiated by the UK-based telecom major in connection with the $2 billion (approximately Rs 11,000-crore) tax dispute. The apex court, however, clarified that the proceedings shall wait till the final decision of the Delhi High Court on the matter by January 10.

 

The order of the Supreme Court came on an appeal by the Centre challenging the High Court order that asked it to participate in the second arbitration. The Vodafone Group had in 2014 initiated arbitration proceedings under the India-Netherlands Bilateral Investment Protection Agreement (BIPA) regarding the tax dispute and the proceedings in it are still going on. READ MORE

12:23 PM

FII Investment Data

As on : 15 Dec 17 | 12:21 PM

Date	Gross Purchase	Gross Sale	Net Investment	Net Investment
	(Rs cr)	(Rs cr)	(Rs cr)	US $m at monthly exchange ratio
13 Dec 17	6,309.43	5,910.60	398.83	61.88
12 Dec 17	6,890.61	6,089.98	800.63	124.17
11 Dec 17	4,897.42	5,033.63	-136.21	-21.17
08 Dec 17	6,846.32	6,802.69	43.63	6.78
07 Dec 17	4,555.51	5,518.33	-962.82	-149.18
06 Dec 17	4,856.22	5,980.21	-1,123.99	-174.41
05 Dec 17	3,752.07	5,155.17	-1,403.10	-217.95
04 Dec 17	4,259.38	4,255.53	3.85	0.60
30 Nov 17	20,704.03	21,306.86	-602.83	-93.56

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12:20 PM

Index Movers 

 

Company	Last (Rs)	Chg (Rs)	Chg (%)	Movement (%)	Index Wtg (%)
HDFC Bank	1,878.95	41.75	2.27	0.292	8.37
M & M	1,475.00	43.30	3.02	0.108	1.58
Bajaj Auto	3,226.75	75.35	2.39	0.063	1.61
Coal India	267.85	4.75	1.81	0.056	2.87
Larsen & Toubro	1,208.90	20.05	1.69	0.048	2.92
Adani Ports	403.75	8.70	2.20	0.047	1.44
Sun Pharma.Inds.	521.00	6.70	1.30	0.017	2.15
H D F C	1,727.00	17.50	1.02	0.015	4.75
Tata Steel	694.50	8.65	1.26	0.008	1.16

12:13 PM

Bitcoin points way to 'massive change' for commodity businesses

 

Blockchain is upending the world's financial markets with the rise of bitcoin, and now the digital-ledger system is poised to do the same next year for raw materials like food and energy.

 

Companies including BP, ABN Amro Group NV and Mercuria Energy Group said last month they will adapt blockchain to streamline physical energy transactions. In October, four banks joined a venture started by UBS Group AG and International Business Machines to use the technology in a platform for the global goods trade. Natixis SA and Trafigura Group announced in March they will employ the system to finance buying and selling oil. READ MORE

12:02 PM

Market Check at 12

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,512.63	+265.93	+0.80
S&P BSE SENSEX 50	10,789.58	+90.55	+0.85
S&P BSE SENSEX Next 50	35,458.21	+327.52	+0.93
S&P BSE 100	10,801.25	+92.07	+0.86
S&P BSE Bharat 22 Index	3,715.23	+28.10	+0.76

11:47 AM

Renaissance Jewellery zooms 20% on robust Q2 results

 

Renaissance Jewellery was locked in upper circuit of 20% at Rs 275 on the BSE after the company reported more than doubled net profit at Rs 16.9 crore in September quarter (Q2FY18). It had profit of Rs 7.4 crore in the same quarter year ago.

 

Revenue of the company grew 34% at Rs 384 crore against Rs 286 crore in the corresponding quarter of previous fiscal. Ebitda (earnings before interest, taxes, depreciation and amortization) margin improved to 6.94% from 5.6% in previous year quarter.

 

For the first half (April to September) of the current financial year 2017-18 (FY18), the company has reported 95% year on year (YoY) growth in net profit at Rs 25.8 crore. Revenue grew 36% at Rs 760 crore on YoY basis.

11:23 AM

SC extends all deadlines of Aadhaar linkages to March 31, 2018

 

The Supreme Court on Friday extended all deadlines of Aadhaar linkages to March 31, 2018 on the plea for interim relief on a batch of petitions seeking stay of various Central and state government notifications mandating the linking of Aadhaar with various schemes. The government had informed Supreme Court on Thursday about extending deadlines for all services. READ MORE

11:18 AM

Stocks near all-time high

COMPANY	LATEST	ALL TIME HIGH	PREV HIGH	PREV DATE	VOLUME
DCM SHRIRAM	616.45	624.70	618.95	14-DEC-2017	23158
FUTURE CONSUMER	69.50	70.30	69.80	11-SEP-2017	1852993
HDFC BANK	1880.40	1887.45	1876.95	24-OCT-2017	69874
MARUTI SUZUKI	9176.00	9237.00	9214.45	12-DEC-2017	10527
RELAXO FOOTWEAR	666.50	685.00	676.00	14-DEC-2017	2234
TVS MOTOR CO.	761.50	770.00	767.90	13-DEC-2017	10437

 

 

 

 

 

11:14 AM

Most Active Stocks

COMPANY	PRICE( )	CHG( )	CHG(%)	VALUE(  CR)
ICICI BANK	305.60	1.05	0.34	253.28
BHARTI AIRTEL	525.25	4.25	0.82	165.95
INDIA CEMENTS	167.70	4.35	2.66	51.20
BHARAT FINANCIAL	992.90	9.50	0.97	50.49
V-GUARD INDS.	231.00	0.60	0.26	47.18