Markets end at record closing high; Nifty hits 10,500, ends lower

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3:57 PM

Vinod Nair, Head of Research, Geojit Financial Services

 

Passage of US tax reform bill aimed at reducing the corporate tax rates and strong US Q3 GDP growth of 3.2% led rally in global markets which was extended to domestic market and Nifty hit an all time high 10,500. The expectation of a good budget and strong H2FY18 earnings is supporting this rally. IT sector was the outperformer today due to big order win by IT major TCS. The weak crude prices and strong INR supported the sentiments.

3:55 PM

Market breadth

The breadth, indicating the overall health of the market, was strong. On the BSE, 1,570 shares rose and 1,173 shares fell. A total of 178 shares were unchanged.

3:51 PM

Sensex heatmap at close

Source: BSE

3:51 PM

Index watch

S&P BSE Sensex	33,940.30		0.55%
Nifty 50	10,493.00		0.50%
S&P BSE 200	4,654.67		0.41%
Nifty 500	9,431.50		0.47%
S&P BSE Mid-Cap	17,573.78		0.11%
S&P BSE Small-Cap	18,991.20		0.58%

3:47 PM

Markets at close

The S&P BSE Sensex ended at 33,940, up 184 points, while the broader Nifty50 settled at 10,493, up 52 points. 

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,940.30	+184.02	+0.55
S&P BSE SENSEX 50	10,940.76	+50.72	+0.47
S&P BSE SENSEX Next 50	36,576.39	+128.26	+0.35
S&P BSE 100	10,983.52	+48.86	+0.45
S&P BSE Bharat 22 Index	3,805.35	+23.93	+0.63

Source: BSE

3:20 PM

Morepen Labs, D B Realty surge 50% in one week 

 

Morepen Laboratories and D B Realty, from the S&P BSE Smallcap index, have rallied 50% each during the current week t on back of positive development in these counters.

 

D B Realty was locked in upper circuit for the second straight day, up 20% at Rs 52.40 on the BSE, after a special court acquitted all those said to have been involved in the 2G scam including Vinod Goenka and Shahid Balwa, the managing directors and key managerial personnel of realty firm. READ FULL REPORT

3:06 PM

eClerx Services soars 16% on board nod for share buyback

 

eClerx Services moved higher to its 52-week high of Rs 1,590, up 16% on the BSE in noon deal, after the company announced that its board approved buyback of shares at price of Rs 2,000 per share through tender offer.

 

“The board approved a proposal for buyback of equity shares of the company, for an aggregate amount not exceeding Rs 258 crore and being within 25% of the total paid-up equity capital and free reserves of the company as on March 31, 2017, at a price not exceeding Rs 2,000  per equity share,” eClerx Services said in a statement. READ MORE

3:00 PM

Sensex off record high

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,911.77	+155.49	+0.46
S&P BSE SENSEX 50	10,930.77	+40.73	+0.37
S&P BSE SENSEX Next 50	36,511.20	+63.07	+0.17
S&P BSE 100	10,971.96	+37.30	+0.34
S&P BSE Bharat 22 Index	3,798.27	+16.85	+0.45

Source: BSE

2:48 PM

Goldman Sachs to set up cryptocurrency trading desk by June-end: Report

 

Goldman Sachs Group Inc is setting up a trading desk to make markets in digital currencies like bitcoin, Bloomberg reported, citing people familiar with the matter. CLICK HERE FOR DETAILS

2:32 PM

Buzzing stock

 

Ultramarine & Pigments is locked in upper circuit of 20% at Rs 354, also its 52-week high on the BSE, after Thirumalai Chemicals hike its stake in specialty chemicals company by nearly one percentage point through open market.

 

On Thursday, December 21, 2017, Thirumalai Chemicals purchased an additional 205,226 equity shares representing 0.7% stake in Ultramarine & Pigments at price of Rs 294.85 per share on the BSE, the bulk deal data shows. READ MORE

2:14 PM

Nifty trades below 10,500

2:10 PM

Top Sensex gainers and losers 

Source: BSE

2:09 PM

Sensex hits fresh high of 33,959

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,929.00	+172.72	+0.51
S&P BSE SENSEX 50	10,935.45	+45.41	+0.42
S&P BSE SENSEX Next 50	36,580.31	+132.18	+0.36
S&P BSE 100	10,979.26	+44.60	+0.41
S&P BSE Bharat 22 Index	3,800.03	+18.61	+0.49

Source: BSE

1:52 PM

Top Nifty gainers in afternoon trade 

Source: NSE

1:32 PM

Adani, ADAG Group stocks in focus

 

Shares of Gautam Adani-led Adani Group and Anil Dhirubhai Ambani (ADAG) Group companies were in focus for the second straight day and rallied by upto 10% in early morning trade on the BSE.

 

Adani Transmission, Adani Power, Adani Enterprises, Adani Ports and Special Economic Zone from the Adani Group were up in the range of 1% to 10%. Reliance Infrastructure (RInfra), Reliance Capital, Reliance Communications, Reliance Home Finance, Reliance Power, Reliance Nippon Life Asset Management and Reliance Naval  and Engineering from the ADAG Group up between 1% and 8% on the BSE in intra-day trade. READ FULL REPORT

1:18 PM

Interview of the day

 

The year 2017 has been the best-ever for the initial public offering (IPO) equity market and next year could be even busier, says ANUJ KAPOOR, managing director, investment banking, at the India arm of UBS, the Swiss global financial services entity. Edited excerpts from a select media briefing: 

 

READ MORE

Anuj Kapoor, managing director, investment banking, at the India arm of UBS

1:01 PM

Trump's HR 170 Bill, higher visa fees may land Indian IT cos in trouble

 

The new restrictions on US work visas for IT employees will further deepen the difficulties faced by the Indian firms, according to National Association for Software and Services Companies (NASSCOM).

 

Proposed regulations like HR 170 and doubling of visa fees have increased the burden on local technology firms.

 

NASSCOM President R Chandrashekhar told ET, "The US government's immigration policy is creating an artificial distinction between one company and another. Our problem, which we have brought to their attention, is that you cannot and should not be doing things which discriminate against Indian companies even though you have not named them." READ MORE

12:51 PM

Infosys hits 52-week high in intra-day deals

12:35 PM

Nifty IT index hits 52-week high as Accenture raises revenue guidance

 

Shares of information technology (IT) companies were trading higher with the Nifty IT index hitting 52-week high of 11,432 in intra-day trade on Friday after Accenture raised its revenue forecast for fiscal year 2018 after the company reported a better than expected first-quarter results.

 

Thus far in the December 2017, the IT index outperformed the market slightly by gaining 2.8% against 2.4% rise in the benchmark index.

 

Tata Consultancy Services (TCS), Infosys and MindTree from the Nifty IT index were up more than 1%, while Polaris Consulting Services, Sonata Software, Hexaware Technologies, Ramco Systems, L&T Infotech and eClerx Service from the non-index stocks gain between 3% and 7%. READ MORE

12:17 PM

TCS stock quote

12:01 PM

TCS secures $2.25-billion outsourcing contract from Nielsen

 

India's leading IT exporter Tata Consultancy Services (TCS) has bagged a $2.25-billion outsourcing contract from Nielsen, a television rating measurement firm.

 

The partnership, signed in October this year, is a renewal of TCS' existing collaboration with Nielsen. The two companies had struck a 10-year deal in 2008 for $1.2 billion, which was expanded to $2.5 billion in 2013.

 

Under the new deal, the terms of the agreement have been extended for an additional five years so as to expire on December 31, 2025, with three one-year renewal options granted to Nielsen, the TV rating company said in a regulatory filing to the US SEC. READ MORE

11:47 AM

Market cap of BSE listed firms hits new high; crosses Rs 150 lakh crore

 

The total market capitalisation (m-cap) of BSE-listed companies touched a new high, crossing Rs 150 lakh crore mark on Thursday after a strong rally in the stocks of auto, banking and capital goods sector.

 

Investor wealth of BSE-listed firms, measured by m-cap, stood at Rs 150.85 lakh crore, the BSE data shows.

 

Thus far in the calendar year 2017 (CY17), the total m-cap of BSE-listed companies increased by Rs 44.46 lakh crore from Rs 106.23 lakh crore as on December 30, 2016. This includes newly listed companies through initial public offers (IPO). READ MORE

11:30 AM

Record share sales bring Indian banks little cheer in the way of fees

 

Funds raised in India through share sales reached the most in a decade this year thanks to booming stock markets, but the rush to raise capital while investor sentiment remained bullish pushed dealmakers’ fee ratio to multi-year lows.

 

India’s main stock indexes surged almost 30% in 2017 as investors bet on economic reform and corporate earnings recovery. That spurred almost $30 billion worth of share sales including a record $11.5 billion in initial public offerings (IPO).

 

But for banks which arrange the sales, fees earned as a percentage of funds raised hit the lowest in four years, Thomson Reuters data showed. That made arranging work in Asia’s third-largest economy the worst paid out of 11 Asian markets. READ MORE

11:13 AM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,935.13	+178.85	+0.53
S&P BSE SENSEX 50	10,938.47	+48.43	+0.44
S&P BSE SENSEX Next 50	36,618.85	+170.72	+0.47
S&P BSE 100	10,983.72	+49.06	+0.45
S&P BSE Bharat 22 Index	3,797.36	+15.94	+0.42

10:56 AM

Sebi probe narrows in earnings leak case

 

The Securities and Exchange Board of India (Sebi) has narrowed its probe in the WhatsApp earnings leak case. According to sources, seven companies whose price-sensitive information had leaked on social media before being made public have been cleared. Five companies were being further probed.

 

Reportedly, some are blue-chip ones. Last month, the markets regulator had initiated a probe against a dozen companies (including Dr Reddy’s, Cipla, Axis Bank, HDFC Bank, Tata Steel, Wipro and Bajaj Finance) for alleged leak of sensitive information.  READ MORE

10:41 AM

Don't rush to buy 2G-related stocks, caution analysts

 

Shares of companies entangled in the 2G spectrum scam such as Unitech, Reliance Communications (RCom), Sun TV and DB Realty ended higher on the NSE on Thursday, after a CBI court acquitted all the accused, including former telecom minister A Raja, Dravida Munnetra Kazhagam member Kanimozhi and corporate executives like Swan Telecom’s Shahid Balwa, Unitech’s Sanjay Chandra and the Essar group’s Ruias in the scam.

 

Most of these stocks had gained as much as 20 per cent in intra-day deals. In comparison, the benchmark indices — the S&P BSE Sensex and the Nifty50 — ended the day marginally negative at 33,756 and 10,440, respectively.

 

Analysts, however, remain cautious and suggest investors not buy into the rally. The verdict, they said, would not change the fortunes of these stocks. READ MORE

10:28 AM

Aarti Industries hits 52-week high as board approves share buyback

 

Aarti Industries hit 52-week high of Rs 1,130, up 8% on the BSE in early morning trade after the company said that its board approved the share buyback at price of Rs 1,200 per share through tender offer.

 

Aarti Industries will buyback up to 820,383 shares of the company representing up to 1% of the total number of equity shares of the company. The buy-back price per equity share is Rs 1,200, payable in cash, for an aggregate buy-back size amount of Rs 98.45 crore.

 

The board of directors have determined January 5, 2018 as the record date for the proposed buy-back, Aarti Industries said in a regulatory filing. READ MORE

10:10 AM

Bitcoin falls suddenly puts it in bear market territory

 

Bitcoin has yet to redefine the global payments system. But it could raise questions about how to define a bear market.

 

Stock strategists — and financial journalists — typically use a 20 per cent tumble from a high as the trigger for calling a bear market. Bitcoin at one point on Wednesday met that description, according to Bloomberg’s composite price. The low for the day was 20 per cent below the record, set way back on Monday. READ MORE

9:46 AM

Top Sectoral gainer: NSE Realty

Source: NSE

9:32 AM

Sectoral Trend

Source: NSE