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MARKET WRAP: Sensex up 155 pts, Nifty ends at 10,772 led by IT, realty stks

Among the sectoral indices, the Nifty IT rose 1.1 per cent led by MindTree, Infosys and Tata Consultancy Services (TCS). The Nifty Realty, too, rose 1.2 per cent led by Godrej Properties and Sobha.

SI Reporter New Delhi
SMEs, banks, foreign exchange, markets, forex, small and medium price industries,
SMEs at large do not understand forex and the concept of hedging, which banks often exploit. (Photo: iStock)

Last Updated : Jan 07 2019 | 4:00 PM IST
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4:00 PM

Sectoral gainers and lsoers of the day

3:58 PM

Gainers and losers on BSE Sensex

3:35 PM

Market at close
 
The S&P BSE Sensex ended at 35,850, up 155 points or 0.43 per cent, while the broader Nifty50 index settled at 10,772, up 44 points or 0.41 per cent.

3:14 PM

AGC Networks zooms nearly 100% in four weeks

Shares of AGC Networks surged 20 per cent to Rs 118.40 apiece on Monday, zooming nearly 100 per cent in past four-weeks, on back of heavy volumes.
The stock of IT consulting and software firm rallied 97 per cent from Rs 60.20 since December 10, 2018. In comparison, the S&P BSE Sensex was up 3 per cent during the same period. READ MORE

3:01 PM

Cash-starved NBFCs, HFCs raise Rs 73,000 cr in Q3 by securitising SME loans

In urgent need of funds, non-banking finance companies (NBFCs) and housing finance companies (HFCs) sold retail and SME loans worth Rs 73,000 crore in October-December 2018 mostly to banks through securitisation, according to rating agency Icra.
 
The liquidity from the market almost froze in the aftermath of defaults by IL&FS and group firms in the second quarter ended September 2018. This forced Non-banking finance companies and HFCs to liquidate part of their existing loans to generate funds to meet redemption requirements and also partly finance growth in future, analysts said. READ MORE

2:51 PM

Top gainers on S&P BSE Sensex

COMPANY PRICE(
)		 CHG(
)		 CHG(%) VOLUME
DISH TV 41.30 2.20 5.63 1683978
REPCO HOME FIN 417.00 22.00 5.57 76174
RELIANCE POWER 29.15 1.45 5.23 1916010
GODREJ PROPERT. 714.00 34.85 5.13 48392
INDBULL.REALEST. 91.30 4.40 5.06 702698
» More on Top Gainers

2:40 PM

To bridge fiscal deficit, RBI likely to pay govt $5.8 bn interim dividend

The Reserve Bank of India (RBI), having changed management last month following a clash with the government, is likely to transfer an interim dividend of Rs 300-400 billion ($4.32 billion-$5.8 billion) to the government by March, according to three sources with direct knowledge of the matter.
 
The dividend could help Prime Minister Narendra Modi's administration bridge a widening budget deficit following a drop in tax collections, and would come after the government pushed the RBI for the additional funds ahead of a national election due by May. Read more
 

2:30 PM

Top gainers and losers on S&P BSE Sensex

2:29 PM

Web Exclusive Chart Reading: Nifty Realty climbs 2%; top stocks to watch out for
 
NIFTY REALTY INDEX was trading 2.46 per cent higher at 241.60 levels in the intra-day trade on Monday. HDIL gained 10 per cent while Indiabulls Real Estate climbed 5.60 per cent. DLF and Godrej Properties soared around over 4.50 per cent each. Click here to read more

2:19 PM

Motilal Oswal on ITC
 
Cigarettes are a likely candidate for the cess, which has been spoken about for some time but clarity on the rate has only emerged now. The cess at 1% is moderate and lower than fears. It is, thus, a small positive for ITC. There has been no GST hike on cigarettes since July 2017, which has led to some stability on volumes and there were fears that the Kerala cess would be the first opportunity to increase rates sharply. Nevertheless, increase in GST, possibly even a sharp one given the time period elapsed since the last increase, remains a possibility in the next few months. The Advalorem overhang also remains, which, unlike per stick GST, can't be passed on effectively to maintain cigarette EBIT growth in high-single-digits. We have a Neutral rating on the stock.
 

2:18 PM

Motilal Oswal on Titan Company
 
While we are cognizant of valuation concerns surrounding consumer and retail stocks, we believe that valuations will continue sustaining at premium levels for companies offering the highest visibility in their near-, medium- and longer-term earnings. Revenue growth opportunity of 20% is immense and far superior to peers. Also, the margin trajectory appears to be on an uptrend, as revenue is being driven by SSSG. We, thus, believe that TTAN is one of the few companies in the consumer/retail sector that is least vulnerable to further sectoral multiple contractions, justifying high valuations. We value the stock at 47x Dec’20E EPS (~10% premium to three-year average) to arrive at a TP of Rs 1,125. Buy.
 

2:13 PM

Market check

Index Current Pt. Change % Change
 
S&P BSE SENSEX 35,980.16 +285.06 +0.80
 
S&P BSE SENSEX 50 11,299.96 +80.79 +0.72
 
S&P BSE SENSEX Next 50 32,674.75 +104.04 +0.32
 
S&P BSE 100 11,088.85 +73.11 +0.66
 
S&P BSE Bharat 22 Index 3,471.30 +20.66 +0.60

2:12 PM

NEWS ALERT| Essar Global has repaid Rs 6300 crore to ICICI Bank, Axis Bank and StanChart, according to TV reports

2:00 PM

Won't like banking system to be in a situation of loose money: RBI Governor

The Reserve Bank of India (RBI) will not like the banking system to be in a situation of "loose money", Governor Shaktikanta Das said on Monday after a meeting with representatives of small- and medium-sized businesses. The RBI is also looking at new governance reforms for state-owned banks but will not "throttle" their functioning, Das told reporters. READ MORE
RBI Governor Shaktikanta Das at the press conference in Mumbai | Photo: Kamlesh Pednekar

1:45 PM

Devangshu Datta Lighten up equity portfolio

The randomness of stock market returns can be illustrated by long time-series. In the 20 years since January 1999, the Nifty had seven years of net losses. It also had three big years when it gained over 50 per cent. In 10 years, it gained, with annual returns somewhere between 1-15 per cent.
 
In January 1999, the Nifty was at trading around 900. It is now in the 10,750 range. This means the compounded return for this period is around 13.25 per cent. READ MORE

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First Published: Jan 07 2019 | 8:10 AM IST

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