Sensex ends flat, Nifty settles above 10,300 as oil steadies; ITC down 2%

All that happened in the market today

3:48 PM

Market rundown by Vinod Nair, Head of Research at Geojit Financial Services

"Market extended the consolidation phase on profit booking. However, renewed buying in consumer durables restricted further fall in the market on expectation of reducing taxes for product coming under 28% GST tax bracket. Albeit, investors are watchful ahead of key domestic macros CPI inflation & IIP data and global oil price fluctuation to get the direction."

 

 

3:43 PM

Biggest Sectoral Loser: Nifty Pharma

Source: NSE

3:40 PM

Top Sectoral gainer: Nifty PSU Banks

Source: NSE

3:38 PM

Sectoral Trend

Source: NSE

3:37 PM

Top Sensex gainers and losers

Source: BSE

3:35 PM

Broader Markets

In broader markets, the BSE Midcap and BSE Smallcap indices outperformed benchmark indices, ending 1% and 0.7% up for the day

3:34 PM

Markets at Close

Benchmark indices ended flat as oil prices fell overnight after they hit a more than two-year high earlier in the week.

The S&P BSE Sensex ended at 33,250, up 32 points while the broader Nifty50 index settled at 10,308, up 5 points

3:16 PM

Vakrangee, Petronet LNG hit new highs; Page Industries crosses Rs 22,000

 

Page Industries, Vakrangee, Petronet LNG, ITD Cementation, Larsen & Toubro Infotech, Rain Industries and Indian Bank were among 15 stocks from the S&P BSE 500 index hitting their respective new highs on the BSE in an otherwise subdued market. These companies have reported a good set of numbers for the quarter ended September 2017 (Q2FY18). READ MORE

3:02 PM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,206.91	-11.90	-0.04
S&P BSE SENSEX 50	10,730.51	-1.37	-0.01
S&P BSE SENSEX Next 50	35,506.65	+108.92	+0.31
S&P BSE 100	10,754.09	+4.19	+0.04
S&P BSE Bharat 22 Index	3,745.01	-11.52	-0.31

2:47 PM

Tata Motors earnings

Commercial and passenger vehicle maker Tata Motors has reported a robust three-fold growth in profit for July-September quarter, driven by better-than-expected JLR's operational perormance.

 

Profit during the quarter increased to Rs 2,501.67 crore, from Rs 848.16 crore in same quarter last fiscal.

2:25 PM

Ashok Leyland falls

Ashok Leyland fell over 2% intraday as investors reacted to the company’s September quarter earnings, which missed estimates.

 

The company reported a gain of 13.5 percent in the net profit at Rs 334.2 crore against Rs 294.4 crore year on year. Revenues for the firm came in 30.8 percent higher at Rs 6,047 crore against Rs 4,622.4 crore reported in the same quarter last year.

2:14 PM

Slips in trade

Cadila Healthcare shares lost as much as 5.6% after Credit Suisse has downgraded the stock to neutral and slashed target price to Rs 465 per share.

1:49 PM

Top Sensex gaienrs and losers

Source: BSE

1:28 PM

2 L&T Group stocks hit 52-week highs

 

Shares of two Larsen & Toubro (L&T) Group companies – Larsen & Toubro Infotech (LTI) and L&T Technology Services (LTTS) – hit their respective 52-week highs on the BSE in an otherwise subdued market.

 

LTI is a global technology consulting and digital solutions company, while LTTS focuses on engineering and R&D (ER&D) services. READ MORE

1:06 PM

Markets check

At 1:05 pm, the S&P BSE Sensex was trading at 33,159, down 59 points, while the broader Nifty50 was ruling at 10,282, down 21 points.

12:49 PM

HDFC Securities on Bharat Forge

 

Valuations play villian

 

Bharat Forge’s (BHFC) 2QFY18 topline performance was in-line with expectations, while margins came in higher, owing to operating efficiencies.  While the North American and European truck demand may be on an upswing, management has guided for a stable, if not higher, industrial segment performance. BHFC’s strategies for Aerospace, Defense and new components for EVs and hybrid cars provide reason for optimism. However, profit growth will be visible only from FY20E. Despite strong domestic MHCV industry growth in 2QFY18, BHFC’s domestic revenue does not reflect a similar trajectory. This, we believe, may be on the back of losing market share of some OEMs to peers. We have revised our FY18/19/20E estimates given strong 2Q results. Maintain NEUTRAL with a TP of Rs 673, based on 25x Jun-19E EPS. 

12:29 PM

Buzzing stock 

 

Lumax Industries has surged 10% to Rs 1,999, also its new high on the BSE, after Edelweiss Investment Research initiated coverage of the company with a recommendation of 'buy'. READ MORE

12:07 PM

One year of demonetisation: 5 best and worst-performing stocks

 

The combined market capitalisation of BSE-listed companies during a year since demonetisation has jumped by more than Rs 33 lakh crore to Rs 145 lakh crore. The biggest contributors to the surge in market capitalisation on BSE have been Reliance Industries, HDFC Bank and Hindustan Unilever, which together contributed over Rs 4.5 lakh crore. READ MORE

11:40 AM

Markets may not see mega correction amid oil surge

 

The Indian markets took a breather after a strong bull run as oil prices reached their highest since July 2015 as Saudi Arabian Crown Prince Mohammed bin Salman's purge led to arrests of royals, ministers, and investors, including prominent billionaire investor Alwaleed bin Talal.

 

Crude oil, however, settled slightly lower on Wednesday after US government data showed rising domestic crude production, a surprise build in US stockpiles and a decline in monthly Chinese crude imports. READ MORE

11:17 AM

Buzzing stock

 

Indian Bank rallied 8% to Rs 401, extending its 17% gain of the last six trading sessions, after the state-owned bank reported a good set of numbers for the quarter ended September 2017 (Q2FY18). READ MORE

11:03 AM

Markets check

At 11:00 am, the S&P BSE Sensex was trading at 33,289, up 70 points, while the broader Nifty50 was ruling at 10,324, up 21 points.

10:45 AM

GST Council meet begins today

 

Those planning to buy new furniture or refit electric switches might have to pay less after Friday, as the GST (goods and services tax) Council is likely to slash the indirect tax rates on these items at its meeting in Guwahati.

 

At present, these attract 28 per cent tax. As many as 165 such items could be moved to the 18 per cent category, with only 62 attracting the highest rate. 

READ FULL REPORT

10:35 AM

Rain Industries hits new high 

 

Rain Industries hit a new high of Rs 374, up 10%, extending its Wednesday’s 6% surge on the BSE, after the company reported robust set of numbers for the September quarter (Q3CY17). READ MORE

 

10:00 AM

Mutual fund equity folios at all-time high

 

Mutual fund (MF) equity folios are at an all-time high of 46.63 million, with 7.6 mn additions this year till now. The earlier peak, of 41.1 mn, was in 2009. The equity segment is dominated by individual and non-wealthy investors, termed retail in sector parlance. It now accounts for three-fourth of all folios. READ MORE

9:47 AM

Bitcoin hits record high

 

Bitcoin hit a record high just shy of $8,000 on Wednesday after a coalition of developers and investors suspended a software upgrade planned for next Thursday that could have split the digital currency in two. READ FULL REPORT

9:31 AM

Sectoral trend 

Source: NSE

9:23 AM

Sensex heatmap at open 

Source: BSE

9:21 AM

Markets check

 

At 9:20 am, the S&P BSE Sensex was trading at 33,375, up 157 points, while the broader Nifty50 was ruling at 10,353, up 50 points. 

9:10 AM

Stocks in news

 

Arvind, Tata Motors, BHEL, HDFC Bank, Narayana Hrudayalaya, Bajaj Electricals and SAIL

9:07 AM

Trading calls

 

SELL: GSFC Fut.

 

CMP: Rs 152.30

Stop Loss: Rs 155.80

Target: Rs 145

 

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