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Sensex ends flat, Nifty fails to hold 10,450 ahead of Q3 earnings season

All that happened in the market today

SI Reporter  |  New Delhi 

Meanwhile, oil prices were stable on Wednesday, not far off mid-2015 highs reached the previous session, as strong demand and ongoing efforts led by OPEC and Russia to curb production tightened the market.

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Sensex ends flat, Nifty fails to hold 10,450 ahead of Q3 earnings season

L&T, Jet Airways, SAIL among 37 stocks from BSE500 index hit 52-week high   Larsen & Toubro (L&T), Adani Enterprises, Jet Airways (India), Steel Authority of India (SAIL), Hindalco Industries, Jindal Steel & Power (JSPL) and Tata Power Company were among 37 stocks from the S&P BSE 500 index hitting their respective 52-week highs on Wednesday.   Graphite India, HEG, Jai Corp, GHCL, L&T Technology Services (LTTS), Jubilant FoodWorks, Tech Mahindra, Tata Chemicals, NMDC and NOCIL too hit 52-week highs today. READ MORE

Sensex ends flat, Nifty fails to hold 10,450 ahead of Q3 earnings season

Metals shine Source: NSE

Sensex ends flat, Nifty fails to hold 10,450 ahead of Q3 earnings season

Sectoral Trend Source: NSE

Sensex ends flat, Nifty fails to hold 10,450 ahead of Q3 earnings season

Top Sensex gainers and losers Source: BSE

Sensex ends flat, Nifty fails to hold 10,450 ahead of Q3 earnings season

Broader Markets Broader markets outperformed benchmark indices with BSE Midcap and BSE Smallcap indices up 0.5% and 0.9% respectively

Sensex ends flat, Nifty fails to hold 10,450 ahead of Q3 earnings season

Markets at Close The S&P BSE Sensex ended at 33,793, down 18 points while the broader Nifty50 index settled at 10,443, up 1 point

Sensex ends flat, Nifty fails to hold 10,450 ahead of Q3 earnings season

Dr Reddy's falls on buzz of issues raised in EIR for Duvvada plant   Dr Reddy’s Laboratories dipped 4.5% to Rs 2,299 on the BSE in intra-day trade after media reports suggested that the US Food and Drug Administration (USFDA) issues raised in Establishment Inspection Report (EIR) for the company's injectables unit in Duvvada, Andhra Pradesh.   The BSE said the exchange has sought clarification from Dr Reddy’s Laboratories on January 03, 2018 with reference to news flashed on www.moneycontrol.com dated January 03, 2018 quoting "Dr Reddy's cracks on buzz of issues raised in EIR for Duvvada plant".

Sensex ends flat, Nifty fails to hold 10,450 ahead of Q3 earnings season

Sebi proposal to split roles in mutual fund industry leaves leaders worried   The Securities and Exchange Board of India’s (Sebi's) renewed push to split the role of an investment advisor and distributor is causing a lot of heartburn among mutual fund honchos. “If Sebi’s proposal is implemented, the mutual fund industry is likely to lose 40 per cent of its business,” says the CEO of a fund house.   Currently, the mutual fund industry’s inflows come from three sources – 40 per cent from banks and 30 per cent each from independent financial advisors and distributors. Industry players said that collection from branches of leading players like ICICI Prudential Mutual Fund, HDFC Mutual Fund and SBI Mutual Fund would be much more. READ MORE   

Sensex ends flat, Nifty fails to hold 10,450 ahead of Q3 earnings season

Indian pharma firms see rise in USFDA drug approvals in FY18   As FY18 enters its final quarter, a look at formulation approvals by the US Food and Drug Administration (FDA) in the year till date (YTD) period shows an improvement over the last year. Deepak Malik, associate director at Edelweiss Securities, says that 750-800 approvals had come in 2016-17.   In 2017-18, around 1,000 abbreviated new drug applications (ANDAs) to FDA are likely to get approval. "So far, around 700 or so approvals have come for ANDAs, and the last quarter is expected to see another 300 or so," he said. READ MORE

Sensex ends flat, Nifty fails to hold 10,450 ahead of Q3 earnings season

Universal trading licences: Equity exchanges have advantage over commexes   After allowing universal broking licences, the Securities and Exchange Board of India (Sebi) has now allowed setting up of universal exchanges – this means stock exchanges can now enter the commodity turf and commexes can also do stock exchange business like dealing in equity and forex.   The market regulator has given exchanges three quarters to prepare for facing competition. However, there does not seem to be a level playing field – commodity exchanges are perhaps on a weaker wicket. READ MORE

Sensex ends flat, Nifty fails to hold 10,450 ahead of Q3 earnings season

Nifty Metal index hits 52-week high   Stocks of metal companies were in focus with Nifty Metal index hitting 52-week high of 4,015.45 on the National Stock Exchange (NSE), on expectations of strong earnings improvement over the next two to three quarters for steel companies. The metal index surpassed its previous high of 3,985.50 touched on December 29, 2017 in intra-day deal.   JSPL and APL Apollo Tubes from the Nifty Metal index have rallied 6% each, while Steel Authority of India (SAIL) up 3% hitting their respective 52-week highs on the NSE. Hindalco Industries and NMDC too hit 52-week highs today

First Published: Wed, January 03 2018. 15:30 IST
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Sensex ends flat, Nifty fails to hold 10,450 ahead of Q3 earnings season

All that happened in the market today

Meanwhile, oil prices were stable on Wednesday, not far off mid-2015 highs reached the previous session, as strong demand and ongoing efforts led by OPEC and Russia to curb production tightened the market.

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