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Markets end flat; Sensex hits fresh closing high, Nifty closes at 10,451

All that happened in today's trade

SI Reporter  |  New Delhi 

The market pared most of gains to end flat after hitting all-time high in intraday trade. While the Nifty50 ended in red, Sensex managed to eke out a fresh closing high. Sentiment turned negative after European markets opened lower, while Asian markets also tumbled from decade highs.  The market had hit fresh high in intraday trade riding on hopes that the government may announce measures to help traders and small businesses in the next GST council meeting that begins on Thursday. The S&P BSE Sensex rose as much as 162 points to hit its fresh high of ...

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Markets end flat; Sensex hits fresh closing high, Nifty closes at 10,451

Anand James, Chief Market Strategist, Geojit Financial Services    Simmering geopolitical tensions in the Korean peninsula kept investors on the backfoot, but expectations of more tax reliefs kept stocks buoyant. Auto and PSU bank sector found traction, but a rise in VIX over 8% indicates that the record peaks, and the deluge of IPOs have had investors in two minds.

Markets end flat; Sensex hits fresh closing high, Nifty closes at 10,451

Sensex heatmap at close Source: BSE

Markets end flat; Sensex hits fresh closing high, Nifty closes at 10,451

Markets at close   The S&P BSE Sensex logged its fresh closing high of 33,731, up 45 points, while the broader Nifty50 ended at 10,451, down 0.7 point.

Markets end flat; Sensex hits fresh closing high, Nifty closes at 10,451

Markets at close Index Current Pt. Change % Change   S&P BSE SENSEX 33,731.19 +45.63 +0.14   S&P BSE SENSEX 50 10,884.79 +20.92 +0.19   S&P BSE SENSEX Next 50 36,231.39 -33.57 -0.09   S&P BSE 100 10,919.28 +15.90 +0.15   S&P BSE Bharat 22 Index 3,819.88 -8.43 -0.22

Markets end flat; Sensex hits fresh closing high, Nifty closes at 10,451

European markets   European markets edged lower on Monday after a strong run, with declines in Asia weighing as some earnings disappointments also took the shine off early deals.   The pan-European STOXX 600 was down 0.1% with Dutch firms SBM Offshore and Vopak falling sharply after badly received results. Euro zone stocks and blue chips were down 0.3% and 0.4%, respectively.

Markets end flat; Sensex hits fresh closing high, Nifty closes at 10,451

Paradise Papers: Jindal Steel, Videocon take a hit   Shares of various firms, led by Jindal Steel, today fell by up to 2.3 per cent amid reports that their names have cropped up in the leaked list of 'Paradise Papers' of companies.   The scrip of Jindal Steel & Power went down by 2.32 per cent, Essar Shipping lost 2 per cent and Videocon Industries fell by 1.82 per cent on BSE. READ FULL REPORT

Markets end flat; Sensex hits fresh closing high, Nifty closes at 10,451

Buzzing stock   Union Bank of India rose as much as 6% despite posting a surprise second-quarter loss last week, as investors welcomed improvements in asset quality trends.

Markets end flat; Sensex hits fresh closing high, Nifty closes at 10,451

Markets check   At 3:00 pm, the S&P BSE Sensex was trading at 33,810, up 124 points, while the broader Nifty50 was ruling at 10,477, up 24 points.

Markets end flat; Sensex hits fresh closing high, Nifty closes at 10,451

Prabhudas Lilladher on Titan Company   We are upgrading Titan from Accumulate to BUY as we increase FY18 and FY19 EPS estimates by 20‐25%. This follows 68.5% PAT growth in 2Q18 led by 1) 49% grammage growth in jewellery 2) 260bps jewellery margin expansion 3) smart margin recovery in watches despite absorbing higher GST and 2% additional dealer discounts 4) market share gain in Jewellery and 100 bps share gain in watches in LFS. We believe Tanishq is in a sweet spot led by 1) discounts on purchase above 75gms in wedding jewellery 2) discount on purchase exceeding Rs 200,000 in studded jewellery 3) activation campaign on recycling of old jewellery and 4) lower premium on gold prices which are reducing price gap with the competitionand 5) steady network expansion and brand building.     We estimate 29.5% PAT CAGR over FY17‐FY20. We value the stock at 40xSept19 EPS and arrive at a target price of Rs759 (Rs580 based on 40xSept19 EPS earlier). Higher than expected margin expansion in both jewellery and watches can provide upside risk to our estimates. We expect premium valuations to sustain given strong tailwinds in jewellery business, strong balance sheet and steady improvement in other businesses. Upgrade to Buy.

Markets end flat; Sensex hits fresh closing high, Nifty closes at 10,451

Oil hits $63 a bbl, highest since 2015    Oil prices hit their highest levels since July 2015 early on Monday as markets tightened, while Saudi Arabia's crown prince cemented his power over the weekend through an anti-corruption crackdown that included high-profile arrests. READ FULL REPORT

Markets end flat; Sensex hits fresh closing high, Nifty closes at 10,451

Buzzing stock Vakrangee moved higher by 6% to Rs 559 on the BSE in noon deal after the company said that its board will meet on November 13, 2017 to consider issue of bonus shares. The stock is trading close to its record high of Rs 566 touched on November 1, 2017 on the BSE in intra-day trade. READ MORE

First Published: Mon, November 06 2017. 15:34 IST
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Markets end flat; Sensex hits fresh closing high, Nifty closes at 10,451

All that happened in today's trade

The market pared most of gains to end flat after hitting all-time high in intraday trade. While the Nifty50 ended in red, Sensex managed to eke out a fresh closing high. Sentiment turned negative after European markets opened lower, while Asian markets also tumbled from decade highs.  The market had hit fresh high in intraday trade riding on hopes that the government may announce measures to help traders and small businesses in the next GST council meeting that begins on Thursday. The S&P BSE Sensex rose as much as 162 points to hit its fresh high of ...

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