Sensex ends flat, Nifty closes below 10,400 ahead of F&O expiry, Q2 GDP

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4:19 PM

Vinod Nair, Head of Research, Geojit Financial Services 

 

Market continued to consolidate as investors wished to stay on the sideline ahead of key economic growth data. Q2FY18 GDP is likely to improve to 6.4% as per the consensus estimates while any extension in crude oil production cut in the upcoming OPEC meet will provide some volatility in the near-term. However, strengthening INR over USD and expectation for further upgrade in earnings after the good set of second quarter results will keep the sentiment positive.

3:42 PM

Sensex heatmap at close

Source: BSE

3:37 PM

Broader markets

The BSE Midcap index was down 0.15, while the BSE Smallcap index remained little changed. 

3:36 PM

Markets at close

 

The S&P BSE Sensex ended at 33,602, down 16 points, while the broader Nifty50 was settled at 10,367, down 9 points. 

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,602.76	-15.83	-0.05
S&P BSE SENSEX 50	10,806.07	-7.21	-0.07
S&P BSE SENSEX Next 50	35,823.11	-57.61	-0.16
S&P BSE 100	10,833.12	-8.88	-0.08
S&P BSE Bharat 22 Index	3,738.94	-5.77	-0.15

Source: BSE

3:19 PM

Buzzing stock

 

Power Mech Projects rallied 10% to Rs 797 on the BSE in noon deal trade after the company received orders worth Rs 357 crore for infrastructure development work at Andhra Pradesh Medtech Zone Limited (AMTZ), an enterprise under the Government of Andhra Pradesh. CLICK HERE FOR DETAILS

3:15 PM

Top five Nifty gainers in last leg of trade

Source: NSE

3:06 PM

Markets check

 

At 3:00 pm, the S&P BSE Sensex was trading at 33,626, up 8 points, while the broader Nifty50 was ruling at 10,367, down 3 points. 

S&P BSE SENSEX	33,627.61	+9.02	+0.03
S&P BSE SENSEX 50	10,808.90	-4.38	-0.04
S&P BSE SENSEX Next 50	35,833.34	-47.38	-0.13
S&P BSE 100	10,836.07	-5.93	-0.05
S&P BSE Bharat 22 Index	3,743.58	-1.13	-0.03

Source: BSE

2:48 PM

RBI unlikely to change interest rates: Poll

 

The Reserve Bank of India is likely to leave interest rates unchanged at its December policy meeting and through the end of next year, despite expectations that inflation will breach its 4 percent target in the next few months, a Reuters poll showed.

 

The results, from a poll of economists taken over the past week, also found there is a bigger risk the next move is a cut, even though forecasts diverge in three directions starting from the second quarter of next year. READ MORE

2:28 PM

Bitcoin makes history

 

Bitcoin is not at a size where it would pose a risk to the global economy, Bank of England Deputy Governor Jon Cunliffe said on Wednesday, as the virtual currency soared to a record high above $10,000 on major exchange.

 

The cryptocurrency has climbed 10-fold so far this year, the largest gain of all asset classes and prompting sceptics to warn it is a classic speculative bubble. READ MORE

2:11 PM

Markets check 

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,643.64	+25.05	+0.07
S&P BSE SENSEX 50	10,817.57	+4.29	+0.04
S&P BSE SENSEX Next 50	35,826.38	-54.34	-0.15
S&P BSE 100	10,843.14	+1.14	+0.01
S&P BSE Bharat 22 Index	3,747.53	+2.82	+0.08

Source: BSE

1:48 PM

Buzzing stock

Wipro gained over 1% to Rs 297 as the IT major kicked off its mega Rs 11,000 crore share buyback plan. 

 

The IT major will process the buyback through a tender offer route. An eligible shareholder can tender equity shares in the buyback during the tendering period which is from November 29 to December 13.  

1:26 PM

Apex Frozen Foods, Shankara Building hit new high 

 

Shares of Apex Frozen Foods and Shankara Building Products rallied more than 300% against their issue price to trade at their respective new highs on the BSE.

 

Shankara Building Products (SBPL), a fledgling retailer of building materials, was up 8% to Rs 1,917, extending its Tuesday’s 9% surge on the BSE. The company made its debut on the stock exchanges on April 4, 2017, soared 316% from its issue price of Rs 460 per share. READ MORE

1:04 PM

Buzzing in trade

ADF Foods rallied 14.83% to Rs 333 on BSE after consolidated net profit rose 89.1% to Rs 5.92 crore on 3.6% decline in net sales to Rs 48.16 crore in Q2 September 2017 over Q2 September 2016.

12:50 PM

Oil falls on doubts over output cuts, surprise rise in US fuel stock

 

Oil prices fell on Wednesday on doubts OPEC and Russia will agree on an extended crude production cut that the market has priced in and after a report of an unexpected rise in US fuel inventories.

 

US West Texas Intermediate (WTI) crude futures were at $57.72 a barrel att 27 cents, or 0.5% below their last settlement.

 

Traders said WTI was pulled down by a report from the American Petroleum Institute (API) late on Tuesday which showed US crude inventories rose by 1.8 million barrels in the week to Nov. 24 to 457.3 million barrels.

12:35 PM

DLF calls board meeting on Dec 1 to approve QIP, warrants issue

 

India's largest realty firm DLF has called a board meeting on December 1 to approve its proposals to issue equity shares to institutional investors and warrants or debentures to promoters.

 

DLF is required to launch QIP (qualified institutional placement) and also issue of warrants or debentures because of proposed infusion of about Rs 10,500 crore by promoters into the company.

 

Infusion of capital by promoters would lead to increase in promoters stake in DLF to more than 75 per cent. So, the company will have to launch a QIP to maintain the minimum public shareholding limit of 25 per cent. READ MORE