Sensex ends 193 pts higher, Nifty regains 10250 ahead of Gujarat exit polls

All that happened in today's trade

4:05 PM

Jayant Manglik, President, Retail Distribution, Religare Securities 

 

Nifty gained over half a percent amid volatility, in continuation to the prevailing sideways trend. The decision of rate hike by the US Fed fell in line with the market expectation and hence failed to generate much buzz in early trades. After initial uptick, Nifty drifted lower and tested 10150. However, the mood changed completely in the latter half and it made a strong recovery to end with decent gains.

 

With the end of second phase of voting in Gujarat, exit polls will start pouring in and markets would react accordingly. Nifty has been hovering in a broader band i.e. 10050 and 10350 and either side decisive break will trigger the next directional move. We suggest continuing with hedged approach and waiting for further clarity.

3:42 PM

Sensex heatmap at close

Source: BSE

3:38 PM

Markets at close

The S&P BSE Sensex settled at 33,246, up 193 points, while the broader Nifty50 ended at 10,252, up 59 points. 

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,246.70	+193.66	+0.59
S&P BSE SENSEX 50	10,699.03	+60.56	+0.57
S&P BSE SENSEX Next 50	35,130.69	+98.23	+0.28
S&P BSE 100	10,709.18	+55.67	+0.52
S&P BSE Bharat 22 Index	3,687.13	+23.32	+0.64

Source: BSE

3:27 PM

Waterbase hits new high

 

The Waterbase Limited (TWL) hit a new high of Rs 275, up 20% on the BSE, extending its past one month rally, after the company reported nearly four-fold jump in net profit at Rs 9.4 crore in September quarter (Q2FY18). The company engaged in food products business had posted profit of Rs 2.6 crore in a year ago quarter. READ MORE

3:20 PM

Buzzing stock

 

Shemaroo Entertainment gained nearly 3% to Rs 409 on BSE after the company's consolidated net profit rose 24.15% to Rs 18.71 crore on 18.19% rise in total income to Rs 134.57 crore in Q2 September 2017 over Q2 September 2016.

3:08 PM

Sectoral trend in last leg of trade 

Source: NSE

2:46 PM

Centrum Broking on Sarla Performance Fibers

 

We maintain our BUY on Sarla Performance Fibers with a revised TP of Rs 78 as we value the company based on our conservative adj. OCF based methodology. Management has temporary closed the Sarla Flex manufacturing unit in USA due to low capacity utilisation which would reduce operating loss to Rs 55 million in FY18E from Rs 169 million in FY17. Further management is looking for a partner to run the plant together which would offer consistent long term demand. Initial implementation issues of GST has been behind and management is confident of volume growth from H2FY18 in the domestic business. While lower gross margin is a worry, management is confident the product mix change would help in the margin expansion over medium term.

2:32 PM

Markets check

At 2:30 pm, the S&P BSE Sensex was trading at 33,063, up 11 points, while the broader Nifty50 was ruling at 10,201, up 8 points. 

2:21 PM

Buzzing stock

Partaap Snacks soared 10% to Rs 1,404 on the BSE in intra-day trade after the company reported more than doubled consolidated net profit at Rs 12.93 crore in September quarter (Q2FY18). It had profit of Rs 5.33 crore in the same quarter last fiscal.

 

The stock is trading at its highest level since listing on October 5, appreciated 50% against issue price of Rs 938 per share. The S&P BSE Sensex was up 5% during the same period. READ FULL REPORT

2:02 PM

Top five losers on Nifty

Source: NSE

1:50 PM

SIP flows now a deluge

 

The Rs 23-lakh-crore mutual fund (MF) industry is going through some structural changes.

 

Increasingly, many are investing in MF schemes through systematic investment plans (SIPs). So far this financial year, a record-breaking 4.5 million new SIP accounts have been added, taking the total tally to 18 million in the end November. The quantum of monthly flows through this mode is also on the rise, making historical highs every month.  In 2017, the SIP monthly inflows have grown 48 per cent, from Rs 3,973 crore in December 2016 to Rs 5,893 crore in November READ MORE

1:30 PM

Tech Mahindra hits 52-week high

 

Tech Mahindra hit a 52-week high of Rs 517 on the BSE in intra-day trade in an otherwise weak market. In past seven trading sessions, the stock of IT consulting & software firm outperformed the market by gaining 11% from Rs 466 on December 5, after Tech Mahindra announced to hold analyst meet on December 8 to make presentations on the Company’s strategy and provide business updates. On comparison, the S&P BSE Sensex was up 0.42% during the same period. READ MORE

1:16 PM

Nov WPI inflation jumps to 3.93%

 

Inflation based on wholesale price index (WPI) accelerated further to 3.93 per cent in November due to a sharp rise in onion prices and costlier seasonal vegetables, government data showed today.

 

It was 3.59 per cent in October this year, and 1.82 per cent in November last year. READ FULL REPORT

1:01 PM

Bitcoin wallet crash exposes crypto-market weaknesses, concern investors

 

As bitcoin raced to another record high on Tuesday, one of the biggest providers of digital currency wallets, Coinbase, went down under the weight of traffic, leaving many of its more than 10 million customers unable to access their funds.

 

At the same time, Bitfinex, the world’s biggest bitcoin exchange by trading volume, said it was under a heavy denial-of-service (DDoS) attack, meaning its servers had been intentionally flooded with junk online requests, taking down its website and crippling its services.

 

The latest outages show how the market infrastructure for an immature and volatile instrument that millions of investors have piled into may be ill-equipped to cope with sudden shifts in demand, which is worrying some investors. READ MORE

12:45 PM

Top Sensex gainers and losers

Source: BSE

12:31 PM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	32,929.31	-123.73	-0.37
S&P BSE SENSEX 50	10,594.67	-43.80	-0.41
S&P BSE SENSEX Next 50	34,817.09	-215.37	-0.61
S&P BSE 100	10,606.12	-47.39	-0.44
S&P BSE Bharat 22 Index	3,647.13	-16.68	-0.46

12:20 PM

Wealth in real estate may rise twofold in five years: Report

 

Wealth in real estate in the country is likely to double to Rs 121 lakh crore in the next five years, signifying a turnaround for the sector in future, a report said. Individual wealth in real 

 

estate grew by 8.62 per cent to reach Rs 60.25 lakh crore in FY17. Demonetisation, implementation of RERA and GST are transforming real estate sector in India, according to a study by brokerage Karvy India Wealth Report.  READ MORE

12:02 PM

Emerging markets shrug off crises for best gains in eight years

 

In 2017, the world's emerging markets saw blockbuster returns after easy monetary policy and budding global growth joined hands. Currencies and stocks in developing economies are on track for their biggest rallies in eight years. READ MORE

11:47 AM

Videocon, Jaypee dip even as lenders keep them out of insolvency process

 

Stocks of Videocon and Jaiprakash Associates shed up to 5% on the BSE even as lenders decided to keep Videocon Industries, and Jaiprakash Associates out of the insolvency process as these companies are in advanced stage of debt resolution.

 

Videocon hit its lower circuit of Rs 16.70, down 4.84%, while Jaiprakash Associates dipped nearly 2% to Rs 17.65 on the BSE. 

 

A senior official of a public sector bank said Videocon Industries was not taken to the NCLT because it was close to the resolution of its  Rs 21,500-crore debt and because it had sold its Kenstar brand and corporate headquarters to repay loans. As per Videocon officials, its debt worth Rs 23,000 crore is housed with its oil subsidiary - Videocon Hydrocarban which has not defaulted on its loans. READ MORE

11:31 AM

Oberoi Realty gains as brokerage initiates coverage with 'buy' rating

 

Oberoi Realty was up 6% to Rs 481 on the BSE in early morning trade after the brokerage firm Motilal Oswal Securities initiated coverage with ‘buy’ rating on the stock.

 

Oberoi Realty is a Mumbai-focused premium real estate developer, with presence in the residential, commercial and hospitality segments. The sharp focus on delivery of quality products has helped the company create a strong brand over the past 20 years. Its trusted brand enables its projects to enjoy premium, resulting in superior EBITDA margins of >50%. READ MORE

11:16 AM

150 seats in Gujarat for BJP can take Nifty to 10,700 levels, say analysts

 

After a stellar rise of around 26% thus far in calendar year 2017 (CY17), the benchmark indices - S&P BSE Sensex and the Nifty 50 - have remained flat with a marginal fall of 0.22% each in December.

 

Going into the state election results, opinion polls suggested that the Narendra Modi - led Bharatiya Janata Party (BJP) will wrest control from the Indian National Congress (INC) in Himachal Pradesh (HP) and will retain Gujarat, although with fewer seats than in 2012.

 

The outcome of the state elections, experts say, is likely to be viewed as a referendum on Prime Minister Modi's performance, especially the implementation of goods and services tax (GST) bill and could have an impact on future economic policy decisions. READ MORE

11:05 AM

Market Check at 11 am

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,021.59	-31.45	-0.10
S&P BSE SENSEX 50	10,631.19	-7.28	-0.07
S&P BSE SENSEX Next 50	34,970.33	-62.13	-0.18
S&P BSE 100	10,644.26	-9.25	-0.09
S&P BSE Bharat 22 Index	3,659.86	-3.95	-0.11

10:43 AM

Natco Pharma extends gain after QIP launch

 

Natco Pharma rallied 5% to Rs 1,013 on the BSE in an otherwise range-bound market after the company launched share sale through qualified institutional placement (QIP) route on Monday, December 11, 2017.

 

In past four trading sessions, the stock gained 9% from Rs 931, as compared to 0.57% decline in the S&P BSE Sensex.

 

The board of directors of Natco Pharma at their meeting held on November 2, had approved to raise up to Rs 1,500 crore through various modes including QIP, Global Depository Receipts (“GDRs”) or American Depository Receipts (“ADRs”) or Foreign Currency Convertible Bonds (“FCCBs”) or fully convertible /partly convertible debentures, etc. READ MORE

10:24 AM

Pharma stocks gain

Source: NSE

10:00 AM

ICICI Sec seeks Sebi nod to manage own IPO

 

Domestic broking and investment banking major ICICI Securities has sought the Securities and Exchange Board of India’s (Sebi’s) permission to manage its own share sale.

 

This is the first time an investment bank is considering managing its own initial public offering (IPO), said industry players. Sources said the capital markets regulator was currently looking at the “unique request” and might revert in a few weeks.  READ MORE

9:46 AM

Tata Communications surges 9% as board approves demerger of surplus land

 

Tata Communications surged 9% to Rs 758 on the BSE in early morning trade after the company said the board has approved demerger of around 773 acres of surplus land to a separate company and listing it subsequently.

 

"The board of directors of Tata Communications at its meeting held today has approved a draft scheme of arrangement and reconstruction between Tata Communications and Hemisphere Properties India Limited (HPIL) and their respective shareholders," Tata Communications said in a BSE filing. READ MORE

9:37 AM

Sebi norm on profit-sharing puzzles firms

 

Norms issued by the Securities and Exchange Board of India (Sebi) on profit-sharing agreements have forced companies to seek clarifications. Around six companies have sought informal guidance over applicability of the provisions in various situations.  An informal guidance is a method for entities to seek interpretation from the market regulator on any regulation, circular or guideline. READ MORE

9:31 AM

Sectoral Trend

Source: NSE

9:22 AM

Top Sensex gaienrs and losers

Source: BSE

9:20 AM

Broader Markets

Among broader markets, the BSE Midcap was up 0.5% while the BSE Smallcap index was up 0.4%