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Sensex ends up 295 pts, Nifty above 10,500; Realty, Pharma, Metals gain

All that happened in markets today.

SI Reporter  |  New Delhi 

Benchmark indices ended higher on Monday, taking cues from its Asian peers. The S&P BSE Sensex ended at 34,300, up 295 points while the broader Nifty50 index settled at 10,540, up 85 points. The mid-and small-cap indices outperformed their larger peers on Monday. The S&P BSE Mid-cap index gained 1.3 per cent by close, while the S&P BSE Small-cap index moved up 1.6%. 3M India, Amara Raja Batteries, Vakarangee, MRF, Tata Global and IGL were some of the top gainers in the mid-cap segment.   At the global level, Asian markets found a semblance of calm on Monday as S&P ...

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Sensex ends up 295 pts, Nifty above 10,500; Realty, Pharma, Metals gain

MARKET COMMENT: Jayant Manglik, President, Religare Broking   Markets witnessed a breather today and gained nearly a percent, taking pause after the recent decline. Nifty opened gap-up, tracking firm global cues but profit taking at higher levels capped upside. Meanwhile, participants were busy in bargain hunting and almost all the sectoral contributed in the move.   We feel global cues will continue to dominate our market trend, in absence of any major event. Nifty may some bounce or consolidate further however sustainability at higher level seems difficult. Traders should use further recovery to reduce existing longs and creating fresh shorts. PSU banks are still weakest while others are seeing mixed trend

Sensex ends up 295 pts, Nifty above 10,500; Realty, Pharma, Metals gain

Top Sectoral gainer: Nifty Realty

Sensex ends up 295 pts, Nifty above 10,500; Realty, Pharma, Metals gain

Sectoral Trend

Sensex ends up 295 pts, Nifty above 10,500; Realty, Pharma, Metals gain

Sensex losers and gainers

Sensex ends up 295 pts, Nifty above 10,500; Realty, Pharma, Metals gain

Market at close The S&P BSE Sensex ended at 34,300, up 295 points while the broader Nifty50 index settled at 10,540, up 85 points.

Sensex ends up 295 pts, Nifty above 10,500; Realty, Pharma, Metals gain

Edelweiss Research on ONGC's Q3FY18 results   Key highlights: 1) gas production growth at 4% missed 6% estimate, due to delay in Vashista project, which will likely ramp up to 2.5mmscmd by Mar’18; 2) net realisation at USD61/bbl was inline, implying no oil subsidy; 3) cash cost/barrel at USD9/bbl came 4% higher on one-off depletion expense, which will normalise in Q4FY18. We expect ONGC’s Rs 800bn projects under implementation to significantly revive gas production (FY17-20E CAGR of 8%).    We have trimmed FY19E gas production by 2%, factoring in slight delay in projects commissioning, and introduced contribution from OPAL (ONGC’s stake: 49%). Maintain ‘BUY’ with DCF-based target price of Rs 239

Sensex ends up 295 pts, Nifty above 10,500; Realty, Pharma, Metals gain

Protectionism, again: Joint action by stock exchanges raises concerns   The joint statement issued by three stock exchanges on Friday — deciding to immediately terminate the agreements for licensing indices and prices of Indian securities to foreign exchanges — raises concerns on several fronts. The action constitutes protectionism, which harms a market (Singapore Stock Exchange, or SGX) that has served global investors well. READ MORE

Sensex ends up 295 pts, Nifty above 10,500; Realty, Pharma, Metals gain

IPO watch: Aster DM (Source: Choice Research)

Sensex ends up 295 pts, Nifty above 10,500; Realty, Pharma, Metals gain

Centrum Broking on Deccan Cements Limited (DCL)   Despite earnings decline seen during FY17/18 (on DCL’s  peak performance in FY16), we continue to like DCL owing to following: robust demand across south and Maharashtra markets will boost DCL’s earnings, DCL’s debt free balance sheet along with no near term capex requirement will bolster free cash generation. This should boost DCL’s capability to undertake future expansion (probably during FY20-22) without leveraging its balance sheet. We roll forward valuations to FY20E. Thus, we maintain BUY with a revised target price of Rs 720

Sensex ends up 295 pts, Nifty above 10,500; Realty, Pharma, Metals gain

Centrum Broking on Sun TV Network   We maintain our BUY rating on Sun TV Network with revised target price of Rs1170 (28x FY20E EPS) as we roll forward our valuations to FY20E. We expect the ad growth momentum to continue going forward as witnessed in Q3FY18E where the company posted 22% YoY growth. Further investment in comissioned programming to bear fruits in medium term. Digitisation in TN could offer the company incrementally Rs3bn in reveneus and management is in advance stage to sign contract with Arasu Cable. Turnaround in IPL from FY19E would further aid margins and profitibility

Sensex ends up 295 pts, Nifty above 10,500; Realty, Pharma, Metals gain

Gold funds losing sheen? Investors pull out Rs 6.79 bn in 10 months of FY18   Investors have pulled out Rs 1.1 billion from gold exchange-traded funds in January, taking the total outflow to Rs 6.79 billion in the first 10 months of the current fiscal, mainly on account of poor returns.   The outflow meant assets under management (AUM) of gold funds plunged by over 15% during the period under review to Rs 49.06 billion from Rs 56.70 billion in the year-ago period, latest update with the Association of Mutual Funds in India (Amfi) showed. READ MORE

First Published: Mon, February 12 2018. 15:43 IST
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Sensex ends up 295 pts, Nifty above 10,500; Realty, Pharma, Metals gain

All that happened in markets today.

Benchmark indices ended higher on Monday, taking cues from its Asian peers. The S&P BSE Sensex ended at 34,300, up 295 points while the broader Nifty50 index settled at 10,540, up 85 points. The mid-and small-cap indices outperformed their larger peers on Monday. The S&P BSE Mid-cap index gained 1.3 per cent by close, while the S&P BSE Small-cap index moved up 1.6%. 3M India, Amara Raja Batteries, Vakarangee, MRF, Tata Global and IGL were some of the top gainers in the mid-cap segment.   At the global level, Asian markets found a semblance of calm on Monday as S&P ...

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