Nifty ends above 10,300, up 2% for week, Sensex gains 216 pts; metals shine
All that happened in the market today
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Benchmark indices gaiined ground on Friday as investors cheer after the exit polls that released their survey results at the end of the final phase of polling in Gujarat on Thursday evening predicted that the Bharatiya Janata Party (BJP) was set to retain Gujarat and wrest Himachal Pradesh from the Congress.
While survey agencies differed in their seat projections, nearly all predicted almost 100 or more seats for the BJP, with the party set to extend its 22-year rule in the state. Survey agencies also said the election, in the last phases, was focused on the leadership of Prime Minister Narendra Modi, and overcame the brewing anti-incumbency against the Vijay Rupani government and dissipated the anger that sections of Gujarati society had felt about specific local issues.
Meanwhile, The Supreme Court on Thursday reserved its interim order for Friday on a batch of pleas seeking a stay on the government's decision of mandatory linking of Aadhaar with various welfare schemes, as the Centre extended the deadline up to March 31 next year.
Globally, Asian shares edged higher, on track for weekly gains, though sentiment was kept in check by Wall Street’s weakness on concerns about the progress of US tax reform.
3:48 PM
Market rundown with Jayant Manglik, President, Retail Distribution, Religare Securities
Markets opened on robust note and managed to end with decent gains, tracking firm local cues. Sentiments boosted mainly in reaction to the exit polls indicating easy win for BJP, in both Gujarat and Himachal Pradesh state elections. Almost all the sectoral indices participated in the move led by metal, realty and auto pack. Sharp decline in the volatility index also helped in smoothen participants' nerves.
With all eyes on actual state elections outcome, we expect fireworks in early trades on Monday i.e. on Dec 18. Indications are still favorable but caution is advisable in stock selection, citing excessive volatility. We suggest not jumping into the trade and waiting for the markets to stabilize.
3:38 PM
Metal shares gain, Nifty Metal up 2%
Source: NSE
3:36 PM
Sectoral Trend
Source: NSE
3:34 PM
Top Sensex Gainers and Losers
Source: BSE
3:33 PM
Broader Markets
Broader markets outperformed the benchmark indices with both BSE Midcap and BSE Smallcap indices up over 1%
Broader markets outperformed the benchmark indices with both BSE Midcap and BSE Smallcap indices up over 1%
3:32 PM
Markets at close
Benchmark indices gaiined ground on Friday as investors cheer after the exit polls that released their survey results at the end of the final phase of polling in Gujarat on Thursday evening predicted that the Bharatiya Janata Party (BJP) was set to retain Gujarat and wrest Himachal Pradesh from the Congress.
The S&P BSE Sensex ended at 33,462, up 216 points while the broader Nifty50 index settled at 10,333, up 81 points
Benchmark indices gaiined ground on Friday as investors cheer after the exit polls that released their survey results at the end of the final phase of polling in Gujarat on Thursday evening predicted that the Bharatiya Janata Party (BJP) was set to retain Gujarat and wrest Himachal Pradesh from the Congress.
The S&P BSE Sensex ended at 33,462, up 216 points while the broader Nifty50 index settled at 10,333, up 81 points
3:21 PM
Buzzing Stock
Maruti Suzuki India shares touched a fresh all-time high of Rs 9,237, rising 1.3 percent intraday after the global brokerage house raised target price sharply.
Maruti Suzuki India shares touched a fresh all-time high of Rs 9,237, rising 1.3 percent intraday after the global brokerage house raised target price sharply.
While maintaining a buy call on the stock, Citi has increased its price target to Rs 10,600 (from Rs 9,400 per share earlier), implying 16% upside from Thursday's closing price.
3:11 PM
Europe Trade
European stocks moved lower, with sentiment curbed by concerns over plans to overhaul the tax system in the US.
European stocks moved lower, with sentiment curbed by concerns over plans to overhaul the tax system in the US.
The pan-European Stoxx 600 was off by 0.21 percent with most sectors trading in negative territory.
2:59 PM
Buzzng Stock
Deepak Fertilizers and Petrochemicals Corporation shares gained 4% intraday after the Arbitration Tribunal has rejected GAIL's claim of Rs 357 crore against the company.
The Gas Authority of India had claimed the amount in respect of supply of domestic natural gas for period July 2006-May 2014, alleging usage for manufacture of products other than urea.
2:46 PM
H&M shares tumble on surprise quarterly sales drop
Fashion retailer H&M said on Friday sales had fallen during the last three months as fewer shoppers visited its stores, sending its shares plummeting and underlining its struggle to adapt to a shift of business online.
Shares in the world’s second largest fashion retailer fell 13 percent to their lowest level since 2009.
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First Published: Dec 15 2017 | 3:30 PM IST