Sensex, Nifty end flat after a choppy session; broader markets outperform
All that happened in the market today
 "Unitech")
Unitech
The benchmark indices ended flat on Thursday after a choppy session following muted reaction of the Asian markets to the passage of US tax cuts as benefits to company bottom lines were already baked into stock prices, while bonds were spooked by the blowout in government debt needed to fund the giveaways.
Back home, a Nomura report said that the Reserve Bank of India's policy rates are likely to remain unchanged in 2018 despite higher inflation, a recovering growth, and elevated oil prices.
According to the Japanese financial services major, strengthening of the growth recovery could push a few Monetary Policy Committee (MPC) members towards a "tightening bias".
Minutes of the December 6 policy meeting show that despite upside risks to inflation, most MPC members voted for a pause because of growth concerns, Nomura said.
Meanwhile, a CBI court verdict acquitted all accused, including former telecom minister Andimuthu Raja, Dravida Munnetra Kazhagam (DMK) member Kanimozhi and corporate executives like Swan Telecom’s Shahid Balwa, Unitech’s Sanjay Chandra and the Essar group’s Ruias, in the 2G case as the prosecution failed to prove the case against them, stocks of these listed companies rallied as much as 20% in intra-day deals.
3:47 PM
Top Sectoral Gainer: Nifty Metal
Source: NSE
3:40 PM
Sectoral Trend
Source: NSE
3:37 PM
Top Sensex gainers and losers
Source: BSE
3:35 PM
Broader Markets
Broader market outperform benchmark indices with BSE Midcap and BSE Smallcap up 0.7% and 1.1% respectively
Broader market outperform benchmark indices with BSE Midcap and BSE Smallcap up 0.7% and 1.1% respectively
3:35 PM
Markets at Close
The S&P BSE Sensex ended the day at 33,756, down 21 points while the broader Nifty50 index settled at 10,440, down 4 points
The S&P BSE Sensex ended the day at 33,756, down 21 points while the broader Nifty50 index settled at 10,440, down 4 points
3:18 PM
2G verdict: There was no wrongdoing on our part, says Unitech M D Chandra
Within hours of acquittal in the 2G spectrum allocation case by a special court, Unitech M D Sanjay Chandra said there was no wrongdoing on his part but his company had to pay the price for the case foisted on him.
Anil Ambani-led Reliance Group also welcomed the court verdict.
Former telecom minister A Raja and DMK MP Kanimozhi were today acquitted by a special court in the case. Fifteen other accused and three companies were also acquitted. READ MORE
3:06 PM
Trending
Reliance Infra gained 5.5% after the company signed definitive binding agreement with Adani Transmission for 100% Sale of its integrated Mumbai power business. Adani Transmission up 7% on the development
Reliance Infra gained 5.5% after the company signed definitive binding agreement with Adani Transmission for 100% Sale of its integrated Mumbai power business. Adani Transmission up 7% on the development
2:52 PM
Buzzing Stock
Shares of Reliance Nippon Life Asset Management Ltd jump as much as 4.8 pct to 287.9 rupees, highest since Nov 14 as CLSA started coverage with “buy”, TP of Rs 325
Shares of Reliance Nippon Life Asset Management Ltd jump as much as 4.8 pct to 287.9 rupees, highest since Nov 14 as CLSA started coverage with “buy”, TP of Rs 325
Brokerage says India’s third-largest asset manager should benefit from rising penetration and ability to leverage strong retail presence
2:37 PM
Wockhardt, Sun TV, KNR Constructions among 36 stocks hit 52-week highs
Wockhardt, Biocon, Manappuram Finance, Varun Beverages, Motilal Oswal Financial Services and Sun TV Network are among 36 stocks from the S&P BSE 500 index hitting their respective 52-week highs on the BSE on Thursday.
Eveready Industries, Future Consumer, Minda Industries, Raymond, Rallis India, NCC, SRF, Kansai Nerolac, Nava Bharat Ventures and Pidilite Industries too hit 52-week highs in intra-day trade today. READ MORE
2:22 PM
RBI's key policy rates to remain unchanged in 2018: Nomura
The Reserve Bank of India's policy rates are likely to remain unchanged in 2018 despite higher inflation, a recovering growth, and elevated oil prices, says a Nomura report.
According to the Japanese financial services major, strengthening of the growth recovery could push a few Monetary Policy Committee (MPC) members towards a "tightening bias".
Minutes of the December 6 policy meeting show that despite upside risks to inflation, most MPC members voted for a pause because of growth concerns, Nomura said. READ MORE
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First Published: Dec 21 2017 | 3:31 PM IST