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Sensex ends 205 pts higher, Nifty above 10,300; PSU banks, IT stocks lead

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SI Reporter  |  New Delhi 

Benchmark indices ended higher on Monday, tracking Asian peers that climbed on positive US payrolls and Chinese trade data, with investors continuing to bet on a possible win for the country’s ruling party BJP in a Gujarat election. Markets are hoping for a big success by Prime Minister Narendra Modi and his ruling Bharatiya Janata Party in assembly elections in Gujarat, with tens of thousands voting in the first stage of the polls on Saturday. A victory would help boost the government’s re-election prospects during general elections in 2019 and reinforce its ...

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Sensex ends 205 pts higher, Nifty above 10,300; PSU banks, IT stocks lead

Top index gainer: Nifty IT Source: NSE

Sensex ends 205 pts higher, Nifty above 10,300; PSU banks, IT stocks lead

Sectoral Trend Source: NSE

Sensex ends 205 pts higher, Nifty above 10,300; PSU banks, IT stocks lead

Top Sensex gainers and losers Source: BSE

Sensex ends 205 pts higher, Nifty above 10,300; PSU banks, IT stocks lead

Broader Markets In broader markets, the BSE midcap ended 0.36% higher while BSE Smallcap index settled at 0.22% higher

Sensex ends 205 pts higher, Nifty above 10,300; PSU banks, IT stocks lead

Markets at Close The S&P BSE Sensex ended at 33,455, up 205 points while the broader Nifty50 index settled at 10,326, up 61 points

Sensex ends 205 pts higher, Nifty above 10,300; PSU banks, IT stocks lead

Oil prices stable as ongoing Opec cuts countered by rising US rig drilling   Oil markets were stable on Monday as ongoing output cuts led by Opec were countered by rising US drilling activity that points to a further increase in American production.   US West Texas Intermediate (WTI) crude futures were at $57.32 a barrel at 0749 GMT, down 4 cents from their last settlement.   Brent crude futures, the international benchmark for oil prices, were unchanged at $63.40 a barrel.   Crude prices have gained well over a third in value from their 2017 lows, largely due to production cuts by the Organization of the Petroleum Exporting Countries (Opec) and a group of non-Opec producers, including Russia, which have been in place since the start of the year. READ MORE

Sensex ends 205 pts higher, Nifty above 10,300; PSU banks, IT stocks lead

BSE Midcap index hits new high   The S&P BSE Midcap index hit a new high of 17,131 on the BSE in intra-day deal on Monday after a healthy gain in pharmaceutical, cement and consumption related stocks. The index surpassed its previous high of 17,110.66 touched on November 29, 2017 in intra-day trade.   Wockhdart, Mahindra & Mahindra (M&M) Financial Services, Tata Communications, Tata Global Beverages, Dalmia Bharat, Natco Pharma and ABB India were up in the range of 3% to 6% on the BSE. READ MORE

Sensex ends 205 pts higher, Nifty above 10,300; PSU banks, IT stocks lead

Still not paid taxes on Bitcoin gains? I-T notice could be on the way   While virtual currencies like Bitcoin are gaining popularity, there is still lack of clarity on how they should be taxed. Many buyers of cryptocurrencies, therefore, don’t pay tax on the gains they make on selling them.   Tax experts, however, say that investors are obliged to pay tax on their gains in virtual currencies. “What investors don’t realise is that the Income Tax Act may not cover the taxation of virtual currencies specifically. But there are provisions that cover all kinds of income and gains,” says Archit Gupta, chief executive officer, ClearTax. The definition of capital assets under Section 2 (14) is broad enough to include any investment in crypto currencies. READ MORE

Sensex ends 205 pts higher, Nifty above 10,300; PSU banks, IT stocks lead

SC to hear Unitech's appeal against NCLT order on govt takeover tomorrow   The Supreme Court on Monday agreed to hear tomorrow the appeal of Unitech Limited challenging the recent order of the National Company Law Tribunal (NCLT) directing the central government to take over the management of the embattled real estate firm.   A bench comprising Chief Justice Dipak Misra and Justices A M Khanwilkar and D Y Chandrachud considered the submission of the real estate firm that its bank accounts have been frozen and the company and its jailed promoters are finding it difficult to deposit Rs 750 crore as asked by the apex court.   The NCLT has recently invoked the provisions of the Companies Act and allowed the central government to take over the Unitech Limited and appoint its nominee directors in the Board of the firm. READ MORE

Sensex ends 205 pts higher, Nifty above 10,300; PSU banks, IT stocks lead

AGC Networks hits 52-week high; stock zooms over 50% in four days   AGC Networks hit a 52-week high of Rs 167, up 13% on the BSE in intra-day trade, extending its over 35% surge of the past three trading sessio after Essar Telecom, the promoter released pledge shares.   Since December 5, the stock rallied 55% from Rs 108, as compared to 1.7% rise in the S&P BSE Sensex.   The company informed the stock exchanges that Essar Telecom, the promoter has released its entire 21.32 million or 74.89% of total equity capital of the company.

Sensex ends 205 pts higher, Nifty above 10,300; PSU banks, IT stocks lead

Nov inflation likely breached RBI's 4% target on rising food prices: Poll   India's retail inflation likely breached the central bank's 4.0 per cent medium-term target in November after unseasonably heavy rains sent food prices soaring, a Reuters poll showed.   In the poll of more than 30 economists, annual consumer inflation, due to be released on Dec. 12 at 1200 GMT, was seen surging to a 13-month high of 4.20 per cent in November from October's 3.58 per cent.   The higher inflation rate is unlikely to push the Reserve Bank of India (RBI) to change its key rate anytime soon, economists in the poll said. READ MORE

First Published: Mon, December 11 2017. 15:31 IST
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Sensex ends 205 pts higher, Nifty above 10,300; PSU banks, IT stocks lead

Catch all live market action here

Benchmark indices ended higher on Monday, tracking Asian peers that climbed on positive US payrolls and Chinese trade data, with investors continuing to bet on a possible win for the country’s ruling party BJP in a Gujarat election. Markets are hoping for a big success by Prime Minister Narendra Modi and his ruling Bharatiya Janata Party in assembly elections in Gujarat, with tens of thousands voting in the first stage of the polls on Saturday. A victory would help boost the government’s re-election prospects during general elections in 2019 and reinforce its ...

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