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Markets pare losses to end in green; Nifty closes at 10399; NTPC top gainer

All that happened in today's trade

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SI Reporter  |  New Delhi 

In a volatile trading session, the benchmark indices extended gains for the eighth straight day with the Nifty settling just one point below its crucial 10,400 mark ahead of the derivatives expiry of November series due on Thursday.  Broader sentiment was, however, subdued after Standard & Poor’s retained the country’s sovereign rating of “BBB-minus” and maintained “stable” outlook, citing low income levels, high debt and weaker government finances. Bond yields too rose 3 basis points to 7.03% on the back of the S&P rating ...

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Markets pare losses to end in green; Nifty closes at 10399; NTPC top gainer

Anand James, Chief Market Strategist, Geojit Financial Services    Domestic indices shrugged off negativity among Asian peers and enthused by expectations for further reform measures, in the light of textile sector now getting finance ministry's nod. Amendments in the 'Insolvency And Bankruptcy Code' may put the banking sector again in prime focus, but it was short-covering ahead of the F&O expiry that was giving muscle to the late rise. RBI’s December policy meet will be in focus, but with inflation firm, investors may go in with low rate-cut expectations.

Markets pare losses to end in green; Nifty closes at 10399; NTPC top gainer

Bitcoin hits new record high   Bitcoin's vertiginous ascent showed no signs of stopping on Monday, with the cryptocurrency soaring to another record high just a few percent away from $10,000 after gaining more than a fifth in value over the past three days alone.   The digital currency has seen an eye-watering tenfold increase in its value since the start of the year, and has more than doubled in value since the beginning of October. READ FULL REPORT

Markets pare losses to end in green; Nifty closes at 10399; NTPC top gainer

Sensex heatmap at close Source: BSE

Markets pare losses to end in green; Nifty closes at 10399; NTPC top gainer

Broader markets Broader markets outperformed the benchmark indices with the BSE Midcap and the BSE Smallcap indices gaining 0.5% and 0.7%, respectively. 

Markets pare losses to end in green; Nifty closes at 10399; NTPC top gainer

Markets check The S&P BSE Sensex ended at 33,724, up 45 points, while the broader Nifty50 closed at 10,399, up 10 points. Index Current Pt. Change % Change   S&P BSE SENSEX 33,724.44 +45.20 +0.13   S&P BSE SENSEX 50 10,841.03 +11.76 +0.11   S&P BSE SENSEX Next 50 35,876.50 +90.42 +0.25   S&P BSE 100 10,865.08 +14.32 +0.13   S&P BSE Bharat 22 Index 3,764.67 +15.82 +0.42 Source: BSE

Markets pare losses to end in green; Nifty closes at 10399; NTPC top gainer

Buzzing stock Ashok Leyland was trading 4% higher at Rs 124 on the BSE in noon deal after the company and Hino Motors Ltd. Japan have entered into a Mutual Cooperation Agreement (MCA) for Euro VI Engines.   “As per agreement, Ashok Leyland will utilize Hino's engine technology for Ashok Leyland's EURO-VI development and will support in development of Hino's engine parts purchasing in India for global operation,” the company said in a press release. READ FULL REPORT

Markets pare losses to end in green; Nifty closes at 10399; NTPC top gainer

Top five Nifty gainers in last leg of trade  Source: NSE

Markets pare losses to end in green; Nifty closes at 10399; NTPC top gainer

Markets check At 3:00 pm, the S&P BSE Sensex was trading at 33,687, up 8 points, while the broader Nifty50 was ruling at 10,385, down 4 points. Index Current Pt. Change % Change   S&P BSE SENSEX 33,722.77 +43.53 +0.13   S&P BSE SENSEX 50 10,838.32 +9.05 +0.08   S&P BSE SENSEX Next 50 35,871.65 +85.57 +0.24   S&P BSE 100 10,862.57 +11.81 +0.11   S&P BSE Bharat 22 Index 3,764.20 +15.35 +0.41 Source: BSE

Markets pare losses to end in green; Nifty closes at 10399; NTPC top gainer

Success of bitcoin, other cryptocurrencies just a bubble    Central bankers say the success of bitcoin and other cryptocurrencies is just a bubble.   But it keeps them awake at night because these private currencies threaten their control of the banking system and money supply, which could undermine the monetary policies they use to manage inflation. READ FULL REPORT

Markets pare losses to end in green; Nifty closes at 10399; NTPC top gainer

Buzzing stocks   Shares of personal products company, Emami, realty firm, DLF, two-wheeler company, TVS Motor Company, broadcasting & cable TV operators, Zee Entertainment Enterprises and TV18 Broadcast are among 24 stocks from the S&P BSE 500 index that hot their respective 52-week high on the BSE in an otherwise subdued market.   Bajaj Electrical, Eveready Industries, PC Jeweller, Symphony, V-Guard Industries and Westlife Development from the consumer related sectors, too, hit 52-week high today. READ FULL REPORT

Markets pare losses to end in green; Nifty closes at 10399; NTPC top gainer

Reliance Securities on Torrent Pharma   Torrent Pharmaceuticals (TRP) is a strong player in chronic segment in India and Unichem acquisition is a strategic fit for the Company as it would further strengthen its presence in key chronic therapy segment. TRP would be able to improve the profitability of Unichem’s product portfolio through its strong field force and distribution network.     Looking ahead, we expect a healthy growth in TRP’s domestic formulation (14.5% CAGR), Brazil (15.8% CAGR) and RoW (13.3% CAGR) business over FY17-19E.   We expect TRP’s Sales, EBITDA and PAT to witness 13%, 15% and 15% CAGR, respectively, while EBITDA margin is expected to improve by 100bps to 24.5% over FY17-19E.   We have not factored the impact of Unichem acquisition into our valuation model due to pending regulatory approvals. Envisaging a healthy growth in India and Brazil businesses led by new launches and improvement in sale force productivity, we maintain our BUY recommendation and Target Price of Rs 1,450, valuing the stock at 20x FY19E EPS of Rs 72.5.

First Published: Mon, November 27 2017. 15:33 IST
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Markets pare losses to end in green; Nifty closes at 10399; NTPC top gainer

All that happened in today's trade

In a volatile trading session, the benchmark indices extended gains for the eighth straight day with the Nifty settling just one point below its crucial 10,400 mark ahead of the derivatives expiry of November series due on Thursday.  Broader sentiment was, however, subdued after Standard & Poor’s retained the country’s sovereign rating of “BBB-minus” and maintained “stable” outlook, citing low income levels, high debt and weaker government finances. Bond yields too rose 3 basis points to 7.03% on the back of the S&P rating ...

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