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Sensex down 67 points, Nifty ends above 10,100 ahead of RBI policy outcome

All that happened in today's trade

SI Reporter  |  New Delhi 

The benchmark indices trimmed some losses, but settled lower on Tuesday ahead of Reserve Bank of India (RBI)'s policy outcome due on Wednesday. The RBI is widely expected to keep policy rates on hold, but investors will watch for any hints of a cut at the February meeting. The central bank kicked off its two-day monetary policy committee meeting on Tuesday. Meanwhile, November's Nikkei/IHS Markit Services Purchasing Managers' Index fell to 48.5 - its lowest since August - from 51.7 in October, well below the 50 mark that separates expansion from ...

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Sensex down 67 points, Nifty ends above 10,100 ahead of RBI policy outcome

Vinod Nair, Head of Research, Geojit Financial Services   After a subdued trade through the day, the market reversed from day’s low led by banking stocks. The recent correction in PSU banks provides an opportunity for investors to accumulate as the long term prospects remains strong owing to healthy recapitalisation. On the macro front, upcoming RBI policy and Gujarat state election will be an influential factor for investors which is steering the market to consolidate.

Sensex down 67 points, Nifty ends above 10,100 ahead of RBI policy outcome

Nifty PSU Bank leading sectoral gainer ahead of RBI policy  Source: NSE

Sensex down 67 points, Nifty ends above 10,100 ahead of RBI policy outcome

Sensex heatmap at close Source: BSE

Sensex down 67 points, Nifty ends above 10,100 ahead of RBI policy outcome

Markets at close   The S&P BSE Sensex ended at 32,802, down 67 points, while the broader Nifty50 settled at 10,118, down 9 points.  Index Current Pt. Change % Change   S&P BSE SENSEX 32,802.44 -67.28 -0.20   S&P BSE SENSEX 50 10,559.16 -14.57 -0.14   S&P BSE SENSEX Next 50 35,116.63 +83.31 +0.24   S&P BSE 100 10,591.10 -8.13 -0.08   S&P BSE Bharat 22 Index 3,660.60 -14.65 -0.40 Source: BSE

Sensex down 67 points, Nifty ends above 10,100 ahead of RBI policy outcome

Sugar shares in focus   Shares of sugar companies have moved higher by up to 10% on the BSE on back of heavy volumes.Dwarikesh Sugar Industries, Triveni Engineering Industries, Ugar Sugar Mills, Uttam Sugar Mills, Dhampur Sugar, Simbhaoli Sugar and Balrampur Chini Mills were up more than 2%. On comparison, the S&P BSE Sensex was down 0.15% at 32,828 points at 03:09 PM. READ MORE

Sensex down 67 points, Nifty ends above 10,100 ahead of RBI policy outcome

Markets check   At 3:05 pm, the S&P BSE Sensex was trading at 32,814, down 55 points, while the broader Nifty50 was ruling at 10,119, down 8 points.  Index Current Pt. Change % Change   S&P BSE SENSEX 32,809.85 -59.87 -0.18   S&P BSE SENSEX 50 10,563.57 -10.16 -0.10   S&P BSE SENSEX Next 50 35,086.42 +53.10 +0.15   S&P BSE 100 10,593.34 -5.89 -0.06   S&P BSE Bharat 22 Index 3,660.82 -14.43 -0.39 Source: BSE

Sensex down 67 points, Nifty ends above 10,100 ahead of RBI policy outcome

Reliance Securities on ​​KEC International   ​​KEC International (KEC) has delivered a strong performance in 2QFY18. Despite higher commodity prices, KEC’s overall EBITDA margin expanded by 139bps YoY to 10.1% in 2QFY18 owing to absence of low-margin legacy orders in Water, Railways and Power Systems segments and execution of recently bagged better-margin orders by SAE Towers. Its net profit rising by 42% YoY to Rs894mn led by higher margin and lower interest cost.   With fresh orders worth Rs 57.5 billion, KEC’s order book stood at Rs 140 billion as of FY18 YTD (+14% YoY). We expect the strong order intake traction to continue, going forward led by higher T&D spending by SEBs, improved Railways ordering and recovery in overseas markets i.e. Saudi, SAARC & Africa.   We expect KEC’s earnings to witness 25.2% CAGR over FY16-19E on strong order book, improving margin profile and healthy outlook in T&D and other emerging business segments.   We continue to remain positive on the fundamentals of KEC with a Target Price of Rs 372.

Sensex down 67 points, Nifty ends above 10,100 ahead of RBI policy outcome

Level the playing field   The Bombay Stock Exchange’s (BSE) suggestion that benefits related to the long-term capital gains (LTCG) tax on equity investments should be removed to curb market manipulation via the exchange platform deserves serious thought.   Though this demand has emerged from several quarters in the run-up to some earlier Budgets as well, the government has been ignoring it on the grounds that a differential tax treatment is required in order to encourage long-term investments instead of short-term trading in the capital market. READ MORE

Sensex down 67 points, Nifty ends above 10,100 ahead of RBI policy outcome

Top five Nifty losers in afternoon trade  Source: NSE

Sensex down 67 points, Nifty ends above 10,100 ahead of RBI policy outcome

Buzzing stock   Ramky Infrastructure hit a new high of Rs 258, up 8% on the BSE in otherwise weak market on back of heavy volumes. The trading volumes on the counter almost doubled with a combined 1.36 million shares changed hands on the BSE and NSE till 01:19 PM.   Since November 8, post July-September (Q2FY18) quarter results, the stock of construction & engineering company surged 50% from Rs 172, after it reported net profit of Rs 3.3 crore against a loss of Rs 41.5 crore in the same quarter previous year. Operational income of the company grew 46% to Rs 324 crore from Rs 222 crore in the corresponding quarter of previous fiscal. READ MORE

Sensex down 67 points, Nifty ends above 10,100 ahead of RBI policy outcome

Force Motors hits 52-week low   Force Motors hits 52-week low of Rs 3,164, down 3% on the BSE in intra-day trade, after the company recorded sales growth of 4% at 1,687 units in the month of November 2017. The car & utilities vehicles maker had sold 1,622 units in November 2016. It had recorded total sales of 2,539 units in October 2017. READ MORE

First Published: Tue, December 05 2017. 15:34 IST
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Sensex down 67 points, Nifty ends above 10,100 ahead of RBI policy outcome

All that happened in today's trade

The benchmark indices trimmed some losses, but settled lower on Tuesday ahead of Reserve Bank of India (RBI)'s policy outcome due on Wednesday. The RBI is widely expected to keep policy rates on hold, but investors will watch for any hints of a cut at the February meeting. The central bank kicked off its two-day monetary policy committee meeting on Tuesday. Meanwhile, November's Nikkei/IHS Markit Services Purchasing Managers' Index fell to 48.5 - its lowest since August - from 51.7 in October, well below the 50 mark that separates expansion from ...

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