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Sensex ends 176 pts higher, Nifty regains 10,500; PSU banks, metals rally

All that happened in today's trade

SI Reporter  |  New Delhi 

The benchmark indices edged higher on Thursday with market heavyweights Coal India, Tata Steel and Larsen & Toubro (L&T) leading the rise, while PSU banks stocks rallied as the government sought parliament approval for Rs 800 billion extra spending to recapitalise state banks as part of a move to help lenders deal with bad debts and revive credit growth. Investors now await December-quarter results, including from Tata Consultancy Services and Infosys that are scheduled late next week, amid signs the economy is recovering after the withdrawal of high-denomination currency ...

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Sensex ends 176 pts higher, Nifty regains 10,500; PSU banks, metals rally

Anand James, Chief Market Strategist, Geojit Financial Services    Release of the next instalment of funds earmarked for bank recapitalisation proved to be a shot in the arm for PSBs, especially as some of the weak banks had been hauled up by RBI for prompt and corrective action. FOMC minutes and firmness in global equity peers also helped, but with oil hovering around $62, markets were measured in their rise.

Sensex ends 176 pts higher, Nifty regains 10,500; PSU banks, metals rally

Sectoral trend  Source: NSE

Sensex ends 176 pts higher, Nifty regains 10,500; PSU banks, metals rally

Markets at close   The S&P BSE Sensex ended at 33,969, up 176 points, while the Nifty50 settled at 10,504, up 61 points.   S&P BSE Sensex 33,920.50 0.38%   Nifty 50 10,481.70 0.37%   S&P BSE 200 4,671.62 0.47%   Nifty 500 9,483.10 0.46%   S&P BSE Mid-Cap 17,922.63 0.58%   S&P BSE Small-Cap 19,490.18 0.75%

Sensex ends 176 pts higher, Nifty regains 10,500; PSU banks, metals rally

Sensex heatmap at close  Source: BSE

Sensex ends 176 pts higher, Nifty regains 10,500; PSU banks, metals rally

Buzzing stock Aurionpro Solutions surged 15% to Rs 284, also its 52-week high on BSE in intra-day trade, after Cyberinc, the company's subsidiary, entered into a definitive agreement with KPMG LLP, USA, for sale of its Identity and Access Management (IAM) business. The transaction is expected to close on January 31, 2018.   “Cyberinc’s IAM business is the largest independent IAM provider in the world. The proposed sale will require participation of Cyberinc US, UK, Australia and Aurionpro India,” Aurionpro Solutions said in a regulatory. READ MORE

Sensex ends 176 pts higher, Nifty regains 10,500; PSU banks, metals rally

PSU bank stocks rally on bank recap plans  The Indian government on Thursday sought parliament approval for Rs 800 billion ($12.62 billion) extra spending to recapitalise state banks as part of a move to help lenders deal with bad debts and revive credit growth. READ MORE Source: NSE

Sensex ends 176 pts higher, Nifty regains 10,500; PSU banks, metals rally

Markets check S&P BSE Sensex 33,920.50 0.38%   Nifty 50 10,481.70 0.37%   S&P BSE 200 4,671.62 0.47%   Nifty 500 9,483.10 0.46%   S&P BSE Mid-Cap 17,922.63 0.58%   S&P BSE Small-Cap 19,490.18 0.75%

Sensex ends 176 pts higher, Nifty regains 10,500; PSU banks, metals rally

What a widening fiscal deficit could mean   The Union government may fail to meet its fiscal deficit target in the current financial year. That, however, is not the real concern.   You could trust the ingenuity of the finance ministry mandarins to finally present a fiscal deficit figure for 2017-18 that will not be much higher than the target of 3.2 per cent of gross domestic product (GDP).   Some expenditure (read dues to public sector bodies like the Food Corporation of India) will be deferred, disinvestment, including the merger of oil companies, should get a last-minute big push, and state-owned companies may be asked to declare special dividends allowing them to transfer a part of their reserves to reflect in the government’s non-debt capital receipts. READ FULL VIEW

Sensex ends 176 pts higher, Nifty regains 10,500; PSU banks, metals rally

How to make most of your money in an uncertain 2018   Making money in 2018 may not be as easy as the year that went by. To tide over the volatility expected this year, it would be a good idea to make a few New Year resolutions and stick to them. Most experts believe that investors need to tone down their returns expectations this year as markets may not continue to grow as they have in the past two years.   Even if you were not disciplined or organised, you would have still made money in the last two years. The broader indices, Sensex and Nifty, rallied over 30 per cent in last calendar year. READ FULL REPORT

Sensex ends 176 pts higher, Nifty regains 10,500; PSU banks, metals rally

Top five Nifty gainers  Source: NSE

Sensex ends 176 pts higher, Nifty regains 10,500; PSU banks, metals rally

PSU banks in focus   Shares of public sector banks were in focus with the Nifty PSU Bank index up nearly 3% in noon deals on the National Stock Exchange (NSE) after media reports suggested that the government may outline the details of PSU recapitalisation plan later in the day.    At 12:15 AM; the Nifty PSU Bank index, the largest gainer among sectoral indices, was up 2.9% at 3,726, as compared to 0.29% rise in the benchmark Nifty 50 index. Nifty Bank index was up 0.43%, while Nifty Private Bank index up marginally by 0.5%. READ MORE

First Published: Thu, January 04 2018. 15:36 IST
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Sensex ends 176 pts higher, Nifty regains 10,500; PSU banks, metals rally

All that happened in today's trade

The benchmark indices edged higher on Thursday with market heavyweights Coal India, Tata Steel and Larsen & Toubro (L&T) leading the rise, while PSU banks stocks rallied as the government sought parliament approval for Rs 800 billion extra spending to recapitalise state banks as part of a move to help lenders deal with bad debts and revive credit growth. Investors now await December-quarter results, including from Tata Consultancy Services and Infosys that are scheduled late next week, amid signs the economy is recovering after the withdrawal of high-denomination currency ...

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