You are here: Home » Markets » News
Business Standard

Sensex, Nifty end at record closing highs; realty, PSU bank stocks gain

Catch all live market action here

SI Reporter  |  New Delhi 

Market wrap-up by Nikhil Kamath, Co-Founder and Head of Trading, Zerodha Markets closed the session up for the day, on the back of domestic liquidity and positive global cues. FIIs continued to be net sellers, overall. YES Bank and Bharti Infratel were the best performers of the session, while cement and autos seemed to hold up. The overall market trend continues to remain bullish with the indices notching up fresh highs on a regular basis. Geopolitical tensions seem to have eased and the focus now remains on earning season. We expect the overall bullish trend to continue going into November, we would advocate caution at this juncture and not recommend entering fresh longs at this point. Anand James, Chief Market Strategist, Geojit Financial Services    Domestic indices marched to a new record high on continuing positivity from the PSU banks and support from Asian peers. But, volatility resurfaced at the record heights especially as investors await key IPO listings. Broader markets outperform    Broader markets outperformed with the BSE Midcap and the BSE Smallcap indices gaining over 1% each.  Sensex heatmap at close Source: BSE Markets at close The S&P BSE Sensex settled at 33,266, up 109 points, while the broader Nifty50 ended at 10,363, up 40 points.  Centrum Research on Mahindra Logistics IPO   At the higher end of the price band of Rs 429, the issue is priced at P/E of 66.9x (post dilution) on FY17 basis, which appears to be expensive given the low financial performance (FY15-17 - revenue and PAT CAGR of 18% and 8%, respectively, with negative operating cash flows in the last 2 years. Even if money raised at such valuations was flowing into the company, it would have ultimately belonged to shareholders. But in this case 100% of the money raised is going to the selling shareholders and not into the company. Recommendation: As already mentioned, the issue is at an expensive valuation. Clubbing that with the lackluster performance of other M&M group companies – it becomes difficult to logically recommend subscribing to the issue. Issue opens on Tuesday and closes on Thursday. 

The benchmark indices settled at record closing highs on Monday as state-owned lenders extended a rally from the last week sparked by the government’s announcement of a Rs 2.11 lakh crore recapitalisation plan, while energy firms gained on higher crude prices. State-run lenders drove the indices higher, with the Nifty PSU bank index rising as much as 4.3%. Its 30% gain last week was much larger than a 0.8% rise in the Nifty private bank index over the same period. The Nifty50 rallied as much as 61 points to hit its fresh high of 10,384, while the Sensex rose ...

MONTHLY STAR

Business Standard Digital

Business Standard Digital Monthly Subscription
149.00  
subscribe
Complete access to the premium product
Convenient – Pay as you go
Pay using Credit Cards and select Debit Cards (Issued by ICICI Bank and HDFC Bank only)
Auto renewed (subject to your card issuer’s permission)
Cancel any time in the future
Requires personal information

What you get?

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all the content on any device through browser or app.
  • Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.
  • 18 years of archival data.
  • Requires you to share personal information like date of birth, income, location amongst other fields. This information alongwith your contact information will be shared with the partners associated with this program, who contribute towards subsidizing the offer. By subscribing to this product you acknowledge and accept that our Partners may choose to contact you with offers of their products and services.
  • This is an optional offer - Not comfortable with sharing personal data - please opt for the full price offer which requires you to share minimal information

NOTE :

  • The product is a monthly auto renewal product.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the email with the cancellation request to assist@bsmail.in. Include your contact number for speedy action. Requests mailed to any other ID will not be acknowledged or actioned upon.

SMART MONTHLY

BS Digital + FREE Monthly access to The Wall Street Journal online

Business Standard Digital - 1 Month + FREE 1 Month access to
The Wall Street Journal online*
199.00
subscribe
FREE across device access to The Wall Street Journal online*
Convenient – Pay as you go
Pay using Credit Cards and select Debit Cards (Issued by ICICI Bank and HDFC Bank only)
Auto renewed (subject to your card issuer’s permission)
Cancel any time in the future
Exclusive invite to select Business Standard events.

What you get

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all content on any device through browser or app.
  • Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
  • Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.
  • 18 years of archival data.

ON THE wall street journal online

  • Seamless access to The Wall Street Journal online on any device with your Business Standard Digital account.
  • Experience the best of WSJ’s reporting, video and interactive features (More business executives read the journal globally than any other publication).
  • Get WSJ’s take on people and events shaping business, finance, technology, politics and culture.
  • Get WSJ newsletters in your inbox to make life easier on your busiest days.
  • Your access to The Wall Street Journal online is subject to you not being an existing user of The Wall Street Journal online. Existing users include current or past Premium Users of The Wall Street Journal online. If you happen to be one, your subscription will be valid for Business Standard Digital only without any change in the subscription price.

NOTE :

  • This product is a monthly auto renewal product.
  • If you have been a past Free/Registered User of The Wall Street Journal online - You will not be eligible for the seamless account creation on The Wall Street Journal online facility. Kindly  email us your non-confidential password on The Wall Street Journal online to enable us activate your access from the backend.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the mail with the request to assist@bsmail.in. Include your contact number for easy reference. Requests mailed to any other ID will not be acknowledged or actioned upon.

SMART ANNUAL

BS Digital + Free 12 Month Access to The Wall Street Journal online

Business Standard Digital - 12 Months + FREE 12 Months access to The Wall Street Journal online*
1999.00
subscribe
Get 12 months of The Wall Street Journal online worth Rs 17165 FREE*
Single Seamless Sign-up to Business Standard Digital and The Wall Street Journal online
Convenient - Once a year payment
Pay using Credit or Debit Card
Exclusive Invite to select Business Standard events

What you get

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all content on any device through browser or app.
  • Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
  • Pick your 5 favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.
  • 18 years of archival data.

ON THE wall street journal online

  • Seamless access to The Wall Street Journal online on any device with your Business Standard Digital account.
  • Experience the best of WSJ's reporting, video and interactive features (More business executives read the journal globally than any other publication).
  • Get WSJ's take on people and events shaping business, finance, technology, politics and culture.
  • Get WSJ newsletters in your inbox to make life easier on your busiest days.
  • Your access to The Wall Street Journal online is subject to you not being an existing user of The Wall Street Journal online. Existing users include current or past Premium Users of The Wall Street Journal online. If you happen to be one, your subscription will be valid for Business Standard Digital only without any change in the subscription price.

NOTE :

  • Saving calculated at the current WSJ price - US $ 1 for the first 3 months and US $ 28.99 thereafter Conversion scale 1 US$ = 65.04 INR
  • If you have been a past Free/Registered User of The Wall Street Journal online - You will not be eligible for the seamless account creation on The Wall Street Journal online facility. Kindly  email us your non-confidential password on The Wall Street Journal online to enable us activate your access from the backend.
  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the mail with the request to assist@bsmail.in. Include your contact number for easy reference. Requests mailed to any other ID will not be acknowledged or actioned upon.

SMART ANNUAL

Business Standard Digital

Business Standard Digital - 12 Months
1999.00
subscribe
Pay as you go
Payment though credit card only
Auto renewed (Subject to your card issuer's permission)
Exclusive invite to select Business Standard events
Cancel any time in the future

What you get

ON BUSINESS STANDARD DIGITAL

  • Unlimited access to all content on any device through browser or app.
  • Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
  • Pick your 5 favourite companies. Get a daily email with all the news updates on them.
  • Track the industry of your choice with a daily newsletter specific to that industry.
  • Stay on top of your investments. Track stock prices in your portfolio.
  • 18 years of archival data.

NOTE :

  • Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal. We do not offer any refunds.
  • To cancel, communicate from your registered email id and send the mail with the request to  assist@bsmail.in Include your contact number for easy reference. Requests mailed to any other ID will not be acknowledged or actioned upon.
First Published: Mon, October 30 2017. 15:36 IST
RECOMMENDED FOR YOU

Sensex, Nifty end at record closing highs; realty, PSU bank stocks gain

Catch all live market action here

Catch all live market action here The benchmark indices settled at record closing highs on Monday as state-owned lenders extended a rally from the last week sparked by the government’s announcement of a Rs 2.11 lakh crore recapitalisation plan, while energy firms gained on higher crude prices. State-run lenders drove the indices higher, with the Nifty PSU bank index rising as much as 4.3%. Its 30% gain last week was much larger than a 0.8% rise in the Nifty private bank index over the same period. The Nifty50 rallied as much as 61 points to hit its fresh high of 10,384, while the Sensex rose ... image
Business Standard
177 22

Sensex, Nifty end at record closing highs; realty, PSU bank stocks gain

Catch all live market action here

The benchmark indices settled at record closing highs on Monday as state-owned lenders extended a rally from the last week sparked by the government’s announcement of a Rs 2.11 lakh crore recapitalisation plan, while energy firms gained on higher crude prices. State-run lenders drove the indices higher, with the Nifty PSU bank index rising as much as 4.3%. Its 30% gain last week was much larger than a 0.8% rise in the Nifty private bank index over the same period. The Nifty50 rallied as much as 61 points to hit its fresh high of 10,384, while the Sensex rose ...

image
Business Standard
177 22