Markets end at record highs, up over 1% for the day; PSU Banks, realty lead

All that happened in the market today

3:50 PM

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

 

"Market extended gain on account of continued buying in banks in expectation of credit growth and negating the concern on premium valuation. Telecom stocks are gaining positive sentiment in view of attaining attractive competition after tariff revision by key players. Further, positive global cues and expectation of unchanged policy outcome from today’s FED meet is providing a better way to the domestic market."

3:40 PM

Nifty PSU Bank index gained over 3%

Source: NSE

3:38 PM

Sectoral Trend

Source: NSE

3:35 PM

Top Sensex gainers and losers

Source: BSE

3:33 PM

Broader Markets

Broader markets underperformed the benchmark indices with BSE Midcap and BSE Smallcap index up 0.4% and 0.6% respectively

3:32 PM

Markets at close

Benchmark indices ended the day at record highs on Wednesday after the index heavyweight Bharti Airtel hit its highest in nearly a decade post its September quarter numbers.  

The S&P BSE Sensex ended at 33,600, up 387 points while the broader Nifty50 index settled at 10,440, up 105 points

3:20 PM

Godrej Consumer Q2 net up 12% at Rs 362 crore on volume growth

 

FMCG major Godrej Consumer Products Ltd on Wednesday reported 12.56 per cent increase in its consolidated net profit to Rs 361.95 crore for the September quarter on higher income and volume growth.

 

It had posted net profit of Rs 321.54 crore during the July-September quarter of last fiscal, Godrej Consumer Products Ltd (GCPL) said in a regulatory filing.

 

Net sales (including excise duty) of the company during the quarter under review stood at Rs 2,496.93 crore as against Rs 2,436.64 crore in the year-ago period, up 2.47 per cent.

3:07 PM

TVS Motor profit up 20%, co declares interim dividend

 

TVS Motor has reported a net profit of Rs 213.16 crore during the quarter ended September 30, 2017 as compared to Rs 177.39 crore, an increase of around 20.2 per cent.

 

Revenue excluding excise duty, GST grew to Rs 4,097.99 crore in the quarter ended September 2017 compared to Rs 3,465.69 crore in the quarter ended September 2016. 

 

The two-wheeler major's margin was 8.7 per cent, which was higher than the market estimate due to improvement in realisation thanks to a better product mix.

2:47 PM

Realty index hits 6-year high; Godrej Properties, Oberoi Realty at new high

 

Shares of real estate companies were on a roll with the Nifty Realty index hitting an over six-year high after a strong rally in Godrej Properties, Indiabulls Real Estate and DLF on the National Stock Exchange (NSE).

 

Godrej Properties, Indiabulls Real Estate and DLF from the Nifty Realty index were up in the range of 4% to 8% on the NSE. The non-index stocks such as Hubtown, Dilip Buildcon, Ansal Buildwell, Emami Infrastructure and Simplex Realty were up 5% to 9% on the BSE.

2:31 PM

Fed to hold rates steady ahead of Trump's decision on new central bank head

 

The Federal Reserve is expected to keep interest rates unchanged on Wednesday as speculation swirls on who will be its next leader, but the US central bank will likely point to a firming economy as it edges closer to a possible rate rise next month.

 

The Fed has raised rates twice since January and currently forecasts one more hike by the end of the year as part of a tightening cycle that began in late 2015.

 

2:11 PM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,614.89	+401.76	+1.21
S&P BSE SENSEX 50	10,842.15	+108.56	+1.01
S&P BSE SENSEX Next 50	36,164.14	+256.40	+0.71
S&P BSE 100	10,880.17	+103.71	+0.96
S&P BSE MidCap	16,646.41	+58.43	+0.35

1:54 PM

One year of demonetisation: Credit card usage up, outstanding surges 39%

 

The use of credit cards has seen a sharp rise, with outstandings rising 38.7 per cent during the 12 months ended September 2017.

 

The total credit card outstandings — money spent by card holders and not repaid to the card company or bank — surged to Rs 59,900 crore at the end of September 2017, against Rs 43,200 crore in the same period last year, according to data released by the Reserve Bank of India (RBI) on Tuesday, shows a report in The Indian Express.

 

Card outstandings have shot up by 77.74 per cent in the past two years, from Rs 33,700 crore in September 2015. The rise in card usage was more visible in the past 12 months as the banking system saw a shortage of cash during the November-January period of fiscal 2016-17, after demonetisation.

1:40 PM

Anil Ambani's RCom, GCX ratings unaffected by debt restructuring: Fitch

 

The ratings on Reliance Communications and its subsidiary Global Cloud Xchange will be "unaffected" by the debt restructuring plan outlined by the company, according to Fitch Ratings.

 

Re-rating will happen after clarity on the execution of the sale of its assets and the capital structure of the revamped entity, it added.

 

Earlier this week, billionaire Anil Ambani-led Reliance Communications said lenders will convert part of their debt to equity to gain 51 per cent control of the company.

1:15 PM

Maruti October sales jump 9.5% on stellar show by utility vehicles

 

The country's largest carmaker Maruti Suzuki India (MSI) today reported a 9.5 per cent increase in total sales at 1,46,446 units in October as against 1,33,793 in the year-ago month.

 

Its domestic sales stood at 1,36,000 units, up 9.9 per cent from 1,23,764 in October last year, MSI said in a statement.

 

Sales of mini segment cars, including Alto and WagonR, witnessed a 4.2 per cent decline to 32,490 units during the month under review, from 33,929 in October 2016, the automaker said. Click for full report

1:00 PM

WPIL zooms 20% on promoter stake buy

 

WPIL is locked in upper circuit of 20% at Rs 721, also its 52-week high on the BSE, after the one of its promoter increased stake in the company by nearly one percentage points through open market transaction. READ MORE