Sensex ends above 35,000 for first time, Nifty hits 10,800; banks, IT lead

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3:47 PM

Market rundown by Vinod Nair, Head of Research, Geojit Financial Services

 

"Widened fiscal deficit and increasing fuel price on account of volatility in crude prices dampened the market sentiment. Mid & small cap underperformed but silver lining was seen in IT index on expectation of turnaround in spending.  If the earnings season pick up steam as per the expectation of 15-20% YoY EPS growth for Nifty & Sensex in Q3, the underlying positive trend in the market will be maintained. "

 

3:42 PM

Top sectoral loser: Nifty Realty

3:40 PM

IT stocks rally, Nifty IT up 3%

3:38 PM

Sectoral Trend

3:36 PM

Sensex Top gainers and losers

3:34 PM

Markets at Close

 

Benchmark indices were rangebound on Tuesday as gains in IT stocks were offset by losses in oil refiners such as Hindustan Petroleum Corp, with sentiment dampened after data showed the country’s trade deficit widened in December.

 

The S&P BSE Sensex settled at 34,771, down 72 points while the broadeer Nifty50 index ended at 10,700, down 41 points.

3:25 PM

IPO nod

 

Speciality chemicals manufacturer Galaxy Surfactants has received capital markets regulator Sebi's go-ahead to raise an estimated Rs 1,000 crore through an initial public offer (IPO).

 

The company had filed its draft papers with Securities and Exchange Board of India (Sebi) in November last year and obtained 'observations' from the regulator on January 12, 2018, the latest update with markets watchdog showed.

 

Sebi's observations are very important for any company to launch a public offer.

3:14 PM

BSE Smallcap, Midcap index under pressure; down 2%

 

Shares of mid and smallcap companies were under pressure with the S&P BSE Midcap and S&P BSE Smallcap index were down up to 2% on profit booking.

 

Uttam Galva Steels, Indosolar, Jaypee Infratech, Gujarat Narmada Valley Fertilizers & Chemicals (GNFC), Kaya, Subex, Unitech, Electrosteel Castings and Equitas Holdings from smallcap index were down more than 7%. National Aluminium Company, Federal Bank, IDFC Bank, Steel Authority of India (SAIL) and IDBI Bank from midcap index down in the range of 5% to 8% on BSE. READ MORE

3:00 PM

Why Jaitley should not focus on growth numbers while preparing Budget 2018

 

Spare a thought for Finance Minister Arun Jaitley. When Mr Jaitley presents his Budget next month, he must know that he doesn’t have a handle on the all-important number, namely, the growth estimate for India’s gross domestic product (GDP).

 

The growth in GDP (along with the inflation rate) determines the increase in tax revenue. It also determines the denominator in the fiscal deficit to GDP ratio, perhaps the most closely watched number in any Budget. Click here for full article

2:45 PM

GNFC slips 11% on closure of Dahej plant

 

Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) slipped 11% to Rs 481 on BSE after the company said that it has decided to close TDI-II plant at Dahej indefinitely following leakage.

 

“In the morning on 15th January, 2018, there has been a sudden leakage at TDI-II Plant, Dahej, which called for Plant shutdown at Dahej. Due to safety measures already put in place by the Company over a period of time, neither there is any property damage nor any loss of life,” GNFC said in a regulatory filing. Read more