Sensex remains lacklustre, Nifty ends below 10,450; Bharti Airtel top loser

All that happened in today's trade

4:07 PM

Vinod Nair, Head of Research, Geojit Financial Services  

 

Market remained subdued despite positive momentum in Asian market amid concern on introduction of long term capital gain tax and ahead of Q3 earnings season. Mid and small cap underperformed due to current excessive valuation while positive December auto sales numbers attracted investors to the sector.

3:41 PM

Sectoral trend at close

Source: NSE

3:38 PM

Top Sensex gainers and losers at close 

Source: BSE

3:36 PM

Markets at close

The S&P BSE Sensex ended at 33,812, down 0.49 point, while the broader Nifty50 settled at 10,442, up 6 points. 

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,812.26	-0.49	0.00
S&P BSE SENSEX 50	10,891.20	-11.40	-0.10
S&P BSE SENSEX Next 50	36,679.27	-77.34	-0.21
S&P BSE 100	10,947.17	-13.40	-0.12
S&P BSE Bharat 22 Index	3,751.92	-16.71	-0.44

Source: BSE

3:22 PM

Reliance Securities on Navkar Corporation  

 

The company recently announced its 2QFY18 results and despite a challenging environment, it continued to report healthy numbers.

 

Surpassing growth in volume, its consolidated revenue grew by 19.7% YoY (+9% QoQ) to Rs1.08bn. Volume grew by 11.6% YoY (+6.7% QoQ) to 91,841 TEUs, while realisation increased by 7.3%YoY (2.2% QoQ) to Rs11,738/TEU.

 

Realisation growth was aided by higher contribution from Vapi ICD, improved revenue-mix and lower share of empty cargoes, which stood at 4,123 in 2QFY18 compared to 4,237 in 2QFY17. EBITDA increased by 18.8% YoY and 3.7% QoQ to Rs404mn.

 

We believe that NCL continues to remain well-placed to cash in the expected rise in EXIM trade on the back of several initiatives undertaken by the Government.

 

​​We have a BUY rating on the stock with a Target Price of Rs 229.

3:16 PM

Buzzing stock

 

Tata Motors and Ashok Leyland were trading higher by 3% each, recovering from their respective intra-day lows, after they reported a strong set of sales numbers in December 2017.

 

Tata Motors was up 3% at Rs 439, its highest level since November 10, 2017 on the BSE, after the company’s commercial and passenger vehicles domestic sales grew 52% at 54,627 units in December. The company attributed strong growth due to increasing demand for vehicles across segments, new product launches and strategic customer initiatives. It had sold 35,825 units in December 2016. READ MORE

3:10 PM

ALERT: Rupee hits highest level vs dollar since June 22, 2015

3:06 PM

Markets check 

At 3:00 pm, the S&P BSE Sensex was trading at 33,812, down 0.34 point, while the broader Nifty50 was ruling at 10,440, up 5 points. 

2:48 PM

Sensex heatmap in afternoon trade

Source: BSE

2:32 PM

India's GDP growth will accelerate to 7.6% in FY20: HSBC

 

India's growth rate is expected to accelerate over the coming year and is likely to improve further to 7.6 per cent by 2019-20 as key sectors would revive from disruptions related to the implementation of GST and demonetisation, says an HSBC report.

 

According to the global financial services major, GDP growth in India is expected to accelerate to 7.0 per cent in 2018-19 from 6.5 per cent in this fiscal, shaking off the disruptions from demonetisation and introduction of the Goods and Services Tax (GST). READ FULL REPORT

2:15 PM

Varun Beverages zooms 48% 

 

Varun Beverages moved higher by 17% to Rs 762 on the BSE in noon deal after a block deal executed on the counter. At 10:33 AM; around 900,273 equity shares representing 0.49% of total equity of the company changed hands on the BSE, the exchange data shows. The stock hit its highest level since listing on November 8, 2016.

 

VBL is one of the largest franchisees in the world (outside USA) of carbonated soft drinks (CSDs) and non-carbonated beverages (NCBs) for PepsiCo. READ MORE

 

2:01 PM

Global equity issuance up from 2016 slump

 

Global equity raising rose by almost a fifth in 2017 and bankers expect issuance to increase further in 2018 as the improving global economy and buoyant stock markets drive larger flotations and rights issues to finance acquisitions.

 

Companies raised $780.2 billion in equity in 2017, up 19 per cent from $656.4 billion last year, Thomson Reuters Equity Capital Markets (ECM) data up to December 26 showed. READ FULL REPORT

1:48 PM

Motilal Oswal Securities on Maruti Suzuki

 

MSIL’s Dec-17 wholesales came in at 130,066 units (+10.3% YoY), below our estimate

of 141,500 units. YTD growth was at 14.2%, with a residual monthly run-rate of 163.9k

units.

 

Domestic volumes increased 12.1% YoY to 119.3k (est. of 130.5k), led by growth in the

compact (+16.3% YoY) and UV (+19.9% YoY) segments.

 

Growth in the compact segment was led by Baleno and new Dzire, while that in UVs

was led by Brezza and new S-cross.

 

Ciaz sales declined 35.8% YoY to 2.4k (est. of 3.75k units).

 

Export volumes were in line at 10.78k units (-6.2% YoY).

 

The stock trades at 25.4x/21.7x FY19E/20E earnings. Maintain Buy.

1:27 PM

Markets check

S&P BSE Sensex	33,784.02		-0.09%
Nifty 50	10,437.55		0.02%
S&P BSE 200	4,641.76		-0.24%
Nifty 500	9,419.25		-0.16%
S&P BSE Mid-Cap	17,752.93		-0.46%
S&P BSE Small-Cap	19,197.67		-0.43%

1:07 PM

Put fresh money in short-term funds

 

If you recently started moving from bank fixed deposits to debt funds, things might not look promising. Investors in debt funds that invest in long-term papers have begun seeing negative returns recently.

 

The reason: The rise in bond yields, and as the price and yields move in the opposite direction, the returns were impacted. In the past four months, the bond yields have been firming up for various reasons, including rising crude prices, the government saying that it would borrow an additional Rs 500 billion via bonds to fund its fiscal deficit, and so on. READ MORE