Sensex ends flat, Nifty holds 10,600 ahead of Q3 earnings season

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3:39 PM

Nifty IT rose over 2% ahead of Q3 earnings season

Source: NSE

3:38 PM

Sectoral Trend

Source: NSE

3:36 PM

Top Sensex gainers and losers

Source: BSE

3:34 PM

Broader Markets

Broader markets underperformed the benchmark indices with BSE Midcap index down 0.6% while BSE Smllcap ended 0.1% lower

3:32 PM

Markets at Close

Benchmark indices settled flat on Wednesday as investors remained cautious ahead of key corporate earnings later this week and the federal budget next month.

The S&P BSE Sensex ended at 34,433 down 10 points while the broader Nifty50 index settled at 10,432, down 4 points

3:26 PM

Tata Group shares rally; Tinplate, Tata Sponge, Tata Metaliks up over 10%

 

Shares of Tata Group companies were trading higher by up to 18% on back of heavy volumes in otherwise range-bound market on Wednesday.

 

Tinplate Company of India, Tata Sponge Iron, Tata Metaliks and Tayo Rolls were up in the range of 10% to 18%, while Nelco, Tata Investment Corporation, Oriental Hotels, Tata Elxsi, Tata Consultancy Services (TCS), TRF and Trent up between 2% and 6%.

 

Five stocks – Oriental Hotels, Tata Investment Corporation, Tata Metaliks, Tata Sponge Iron and Tinplate Company of India– have hit their respective all-time highs on BSE in intra-day trade today. READ MORE

3:15 PM

EPF to ELSS: Five key investments you can make under Section 80C

 

With the end of the financial year fast approaching, the employed need to furnish their Section 80C investments, which has a combined limit of Rs 150,000, to employers.

 

If you haven’t still made any investments, here are five key ones

 

3:05 PM

TCS nears three-year high ahead of December quarter results

 

Tata Consultancy Services (TCS) was up 3% at Rs 2,785 on BSE in noon deals, trading nears to its three-years high, ahead of October-December quarter (Q3FY18) earnings on Thursday, January 11, 2018. The company’s board will also consider a third interim dividend.

 

The stock trading at its highest level since March 4, 2015. It is less than 2% away from its all-time high of Rs 2,834 touched on October 7, 2014 on BSE in intra-day trade.

 

Analysts at Kotak Securities expect constant currency (c/c) revenue growth of 1.4% and negligible cross currency impact in Q3FY18. Growth would be impacted by usual seasonal furloughs and soft BFS in North America. READ MORE

2:51 PM

Retail shares gain on Cabinet nod for 100% FDI in single brand retail

 

Shares of retail companies have rallied by up to 8% after the Cabinet cleared 100% foreign direct investment (FDI) through automatic route in single brand retail trading.
 

Monte Carlo Fashions, Future Consumer, Indian Terrain Fashions, Zodiac Clothing Company, V-Mart Retail and Future Market Networks were up in the range of 4% to 9% on BSE. READ MORE

2:35 PM

FDI norms relaxed, foreign airlines can invest up to 49% in Air India

 

The government on Wednesday relaxed FDI norms in various sectors such as single brand retail and allowed foreign airlines to invest up to 49 per cent in Air India. The decision was taken during the Cabinet meeting chaired by Prime Minister Narendra Modi here.

 

The Cabinet allowed overseas investors to invest 100 per cent FDI (foreign direct investment) in single brand retail trading and construction development without any government approval, an official statement said. "Foreign airlines allowed to invest up to 49 per cent under approval route in Air India," the statement said.

2:17 PM

Europe Trade

European equities opened lower as investors watch out for corporate earnings and fresh data. The pan-European Stoxx 600 was down by 0.13% with most sectors trading in negative territory.

 

2:02 PM

Asia Check

 

Asian shares flinched from testing their 2007 record peak on Wednesday, as investors booked profits in high-tech shares while oil prices hit three-year highs due to production cuts and a fall in inventories.

 

MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.5% after six straight days of gains until Tuesday, that had taken it within a stone’s throw from the record high touched in November 2007

 

Japan’s Nikkei also shed 0.3%, slipping from 26-year highs hit the day before.

1:41 PM

Analysts warn of overheated market after oil prices hit highest since 2014

 

Oil prices hit their highest levels since 2014 on Wednesday due to ongoing production cuts led by Opec as well as healthy demand, although analysts cautioned that markets may be overheating.

 

A broad global market rally, including stocks, has also been fuelling investment into crude oil futures. READ MORE

1:20 PM

AirAsia India is planning an IPO

 

Tony Fernandes, the group chairman of AirAsia group on Tuesday said that the company was looking for a public listing and will seek shareholders' approval for appointing bankers for the process.
 

“AirAsia in the process of appointing a banker to find a partner for our profitable and successful shared services centre... AIRASIA will be seeking approval at the next AIRASIA India board to pick a banker to start prelim process. Very valuable asset with huge growth potential. Analysts giving zero value to AirAsia India. Not far from 20 planes and a potential IPO,” Fernandes said in a series of tweets. READ MORE

1:02 PM

Earnings preview: Most brokerages see muted December quarter for IT sector

 

For Indian information technology (IT) companies, the October-December quarter of 2017-18 (Q3) is expected to be a muted one, weighing on their overall revenue performance. Though demand and revenue acceleration during the quarter could provide some optimism, implications of the US tax reforms and potential changes to the visa rules in that country remain an overhang.

 

Investors are now likely to focus on demand outlook for calendar year 2018 and, more importantly, industrialisation of digital services and Indian IT’s participation in that. For 2018 earnings, they would also look to margin outlook and the IT budget trend going forward. 

 

Here's what brokerages expect