Sensex ends above 34,400 for first time; Nifty ends flat but at new high

All that happened in the market today

3:42 PM

Top Sectoral Gainer: NSE Realty

Source: NSE

3:40 PM

Sectoral Trend

Source: NSE

3:38 PM

Top Sensex gainers and losers

Source: BSE

3:36 PM

Broader Markets

Broader markets underperformed benchmark indices with BSE Midcap down 0.4% and BSE Smallcap little changed

3:35 PM

Markets at Close

The benchmark indices ended at new closing high with S&P BSE Sensex settling at 34,443, up 90 points, while the broader Nifty50 index ended at 10,637, up 13 points

3:26 PM

Cement stocks gain

 

Cement stocks are in focus after the companies raised cement prices in Mumbai by 9-20% in January. Major cement player like ACC, Ambuja Cements have raised cement prices in Mumbai by up to 13% in January.

3:14 PM

Buzzing Stock

Tata Motors rose 1.7% after its Jaguar Land Rover unit’s sales rose 7% to a record 621,109 vehicles in 2017 but said it faced tough conditions in the UK due to weakening consumer confidence and a planned diesel tax rise on new cars.

2:55 PM

GVK Power at 52-week high on pact with CIDCO to develop Navi Mumbai Airport

 

GVK Power & Infrastructure (GVKPIL) was locked in upper circuit for the second straight day, up 5% at Rs 22.15 on BSE after the company on announced the signing of the concession agreement with City and Industrial Development Corporation (CIDCO) for the Navi Mumbai International Airport project.

 

The agreement was signed through a special purpose vehicle Navi Mumbai International Airport Private Ltd (NMIAL), a step down subsidiary of GVKPIL.

 

GVKPIL through its subsidiary Mumbai International Airport Private Limited (MIAL) holds 74%, while CIDCO holds the balance 26% in equity capital of NMIAL.

2:41 PM

Relief for Indian techies, US says no change in H-1B visa extension

 

In a relief for Indian techies, US authorities today said that the Trump administration is not considering any proposal that would force H-1B visa holders to leave the country.

 

The announcement by the US Citizenship and Immigration Services (USCIS) came days after reports emerged that the Trump administration was considering tightening H-1B visa rules that could lead to deportation of 7,50,000 Indians.

 

The reports had said it was mulling ending extensions for H-1B holders. READ MORE

2:22 PM

From domestic growth to global economy: Key risks for markets in 2018

 

Sustenance of healthy macro fundamentals and liquidity has driven valuation re-rating even without concurrent improvement in micros (earnings growth), in our view.

 

As regards the political landscape, in the first major state elections post GST implementation, the BJP, the ruling party at the center, has won Gujarat for the sixth straight term and Himachal Pradesh (HP) state elections with a comfortable majority.

 

Winning UP and Gujarat right after big structural reforms like demonetisation and GST, which have created short-term disruption, reaffirms Mr Modi's popularity and augurs well from the reforms perspective, in our view. READ MORE

2:05 PM

Market Check

S&P BSE Sensex	34,401.58		0.14%
Nifty 50	10,618.65		-0.05%
S&P BSE 200	4,738.55		-0.10%
Nifty 500	9,621.35		-0.19%
S&P BSE Mid-Cap	18,137.43		-0.60%
S&P BSE Small-Cap	19,871.61		-0.12%

1:51 PM

Infinite Computer Solutions zooms 20% on voluntary delisting plan

 

Infinite Computer Solutions (India) was locked in upper circuit of 20% at Rs 335, also its record high on BSE, after the IT consulting & software firm said that the company’s board will meet on January 12, 2018 to consider the proposal of voluntary delisting.

 

“The Company has received a letter dated January 08, 2018 from Sanjay Govil, promoter representing the promoter & promoter group of our company, expressing their intent to give an offer to the public shareholders of the company to acquire entire 8.34 million equity shares of the company held by public shareholders (representing 25.02% of the paid up equity capital of the Company),” Infinite Computer Solutions (India) said in a regulatory filing. READ MORE

1:30 PM

Bitcoin is plummeting, and it's dragging down other cryptocurrencies too

 

Bitcoin slumped, dragging down smaller rivals such as ether and litecoin, as concerns that regulators will tighten their grip on the market weigh on the world’s largest cryptocurrency.

 

Regulators in China and South Korea are increasing oversight on cryptocurrency trading and mining, while the US Securities and Exchange Commission late last year started cracking down on some digital token sales, known as ICOs. Coinmarketcap.com’s decision to exclude Korean pricing data for coins helped create the appearance of a large drop in prices, which some traders attributed as playing a part in the selloff. Read More

1:14 PM

After stock rally, Polaris Consulting delisting offer may not go through

 

The delisting proposal for Polaris Consulting & Services by Virtusa Consulting Services, which owns 74.22 per cent in the company, is unlikely to go through as the stock price has surged over 60 per cent since its price before the delisting announcement. 

 

The stock of Polaris, which was trading at around Rs 242 apiece prior to the voluntary delisting announcement on October 26, 2017, is currently trading at Rs 401 on the BSE. Read More

12:56 PM

Tejas Networks completes deployment of GPON equipment; stock surges 11%

 

Tejas Networks has rallied 11% to Rs 472 on BSE after the company said that it has successfully completed GPON equipment installations in over 40,000 gram panchayats in India as part of the BharatNet Phase-1 project.

 

BharatNet is an ambitious Government of India project to bring high-speed broadband connectivity to 250,000 gram panchayats of the country. READ MORE

12:40 PM

Direct tax boost before Budget: Apr-Dec collection up 18.2% at Rs 6.6 trn

 

Direct tax collections soared 18.2 per cent during the first nine months of the current financial year at Rs 6.56 trillion, (Rs 6.56 lakh crore) the finance ministry said on Tuesday.

 

"The net direct tax collections represent 67 per cent of the total Budget Estimates of direct taxes for FY2017-18 is Rs 9.8 trillion, (Rs 9.8 lakh crore)," the statement said.

 

Gross collections (before adjusting for refunds) have increased by 12.6 per cent to Rs 7.68 lakh crore during April to December, 2017. READ MORE

12:25 PM

Higher tax on cigarettes: Dalal Street may be undervaluing ITC stock

 

"Buy when everyone is selling" explains one of the principles of Warren Buffett, the world's most celebrated investor, who is known for his "value investing". Fitting this maxim in the Indian context could be ITC, which investors may want to look at.
 

The ITC stock has been a clear underperformer, lagging the S&P BSE Sensex in the past 12 months. Compared to a rise of 27 per cent in the Sensex, ITC is up just about six per cent, because of a negative tax surprise for its key cigarettes business. Read More

12:09 PM

From bond yields to new accounting norms, banks face multiple headwinds

 

A lot has gone in favour of the banking stocks despite the sector reeling under the pressure of bad loans, especially since mid-2015. Notwithstanding this, the CNX Nifty Bank index has been on an uptrend all though this turbulence, gaining 43 per cent as compared to the Nifty and the Sensex, which posted a 28-29% return. Read More

11:55 AM

Sectoral Index

11:40 AM

Market watch

S&P BSE Sensex	34,444.92		0.27%
Nifty 50	10,636.30		0.12%
S&P BSE 200	4,750.94		0.16%
Nifty 500	9,651.20		0.12%
S&P BSE Mid-Cap	18,256.51		0.05%
S&P BSE Small-Cap	19,975.74		0.40%

S&P BSE Sensex34,444.92

0.27%Nifty 5010,636.30

0.12%S&P BSE 2004,750.94

0.16%Nifty 5009,651.20

0.12%S&P BSE Mid-Cap18,256.51

0.05%S&P BSE Small-Cap19,975.74

0.40%

11:23 AM

Aarti Drugs surges 7% on board nod for share buyback

 

“The board approved a buyback of up to 0.27 million equity shares representing up to 1.5% of total equity of the company at a price of Rs 875 per equity share for an aggregate amount of up to Rs 241 million, on a proportionate basis through the tender offer,” Aarti Drugs said in a statement. Read More

11:00 AM

MF inflows: Don't stop SIP till you need money, say fund managers

 

What should the country's mutual fund (MF) investors, with in-built high return expectations, do in 2018? Given that fund managers do not expect a repeat of 2017 in terms of high return? It is a year marked by election schedules and likely to be quite volatile, due to domestic and global factors. 

 

And, say fund managers, investors must not stop their Systematic Investment Plans or SIPs in uncertain times. Read More

10:48 AM

Indian equity rally still has room for bull run, suggests a '$6 bn' manager

 

One of Asia’s best-performing stock markets in 2017 is not done yet.

 

A gauge of India’s top 50 companies is set for “low teen returns” this year, boosted by a revival in company earnings, economic growth and renewed interest from local and global funds, according to the nation’s fourth-largest money manager. The climb, should it happen, would be the index’s first back-to-back double-digit annual advance in eight years. Read More

 

10:31 AM

NMDC stake sale via OFS route begins; stock falls 4%

 

NMDC was trading 4% lower at Rs 155 on BSE in early morning trade as the government 1.5% stake sale programme in mining company commenced today. The government has fixed a floor price of Rs 153.50 apiece, is at a discount of 5% over the closing price of Rs 161.85 on Monday.

 

The two-day offer for sale (OFS) will open for institutional investors on Tuesday and for retail investors on Wednesday.

10:16 AM

Bitcoin drops below $15,000 as South Korea reviews accounts

 

Bitcoin fell below $15,000 on Monday after South Korea's financial regulator said it and other agencies are inspecting six local banks that offer digital currency accounts to institutions.

 

Bitcoin, the world's biggest virtual currency by market value, was last down 7.57 per cent at $14,902.99 on the Luxembourg-based Bitstamp exchange. READ MORE

10:00 AM

ED attaches PACL group's property worth Rs 4.72 bn

 

The Enforcement Directorate (ED) on Monday said it has attached Rs 4.72 billion worth of properties, including one in Australia, belonging to the group of PGF Ltd and PACL Ltd, which is accused of duping scores of investors.

 

The group, according to Securities and Exchange Board of India (SEBI), had collected Rs 491 billion over a period of 15 years from investors through a collective investment scheme in the garb of sale and development of agriculture land.

 

In this regard, a case was registered by the Central Bureau of Investigation (CBI) for acts of criminal conspiracy and cheating. READ MORE

9:44 AM

Coal India up 5% on hike in non-coking coal prices

 

Coal India (CIL) surged 7% to Rs 309 on BSE in early morning trade after the company said its board approved revision of non-coking coal prices with effective from Tuesday, January 9, 2018.

9:30 AM

Sectoral Trend

Source: NSE

9:23 AM

Top Sensex gainers and losers

Source: BSE

9:21 AM

Markets at open

S&P BSE Sensex	34,431.61		0.23%
Nifty 50	10,643.95		0.19%
S&P BSE 200	4,752.33		0.19%
Nifty 500	9,639.25		0.00%
S&P BSE Mid-Cap	18,283.64		0.20%
S&P BSE Small-Cap	19,934.13		0.19%