Market rundown by Anand James, Chief Market Strategist at Geojit Financial Services
NPA worries continue to cloud markets’ upside prospects, firm global peers as well as centre's plan to infuse new funds to PSU banks supported the banking stocks and gave impetus to the indices later in the afternoon, while also signs of price rationalisation lifted telecom stocks.
3:42 PM
Nifty Chart for the day
Source: NSE
3:41 PM
Telecom shares rallied post Jio tariff hike plan
Source: BSE
3:38 PM
Nifty IT gains ahead of Infosys results
Source: NSE
3:37 PM
Nifty Bank snaps 3-day rally
Source: NSE
3:35 PM
Tos Sensex gainers and losers
Source: BSE
3:34 PM
Broader markets
In broader markets, BSE Midcap index was in line with the frontline indices, up 0.45% while the BSE Smallcap index was a little changed
3:33 PM
Markets at close
The S&P BSE Sensex ended at 32,506, up 116 points while the broader Nifty50 index settled at 10,184, up 38 points
3:18 PM
Sectoral Trend
Source: NSE
3:08 PM
HSBC appoints Jayant Rikhye as CEO India
The Hongkong and Shanghai Banking Corporation (HSBC) on Monday appointed Jayant Rikhye as the Chief Executive Officer for India operations. He will take charge on December 1 and will be succeeding Stuart Milne, who has held the position for five years.
Rikhye joined the bank in 1989 and is currently the head of international markets, Asia Pacific.
3:00 PM
Market check at 3 pm
Source: BSE
2:56 PM
Bharti Airtel set to join Rs 2-lakh cr market-cap club after a 10-year gap
Bharti Airtel is set to join the elite league of corporate entities with a market value of over Rs 2 lakh crore after a gap of 10 years.
The stock surged 6% to Rs 501 on BSE in intra-day trade on Monday after the media reports suggested that the analyst at Morgan Stanley upgraded the recommendation on Bharti Airtel to overweight from equal-weight. READ MORE
2:46 PM
Earnings
Consumer electrical goods maker Havells India today reported a standalone net profit of Rs 171.02 crore for the quarter ended on September 30, 2017, on account of higher income.
The company had posted a net profit of Rs 145.79 crore during the same period previous fiscal, Havells India said in a regulatory filing.
2:34 PM
Zuari Agro rallies 20% on healthy earnings
Profit grew multi-fold to Rs 53.5 crore in Q2, compared with Rs 0.3 crore in same quarter last fiscal, driven by sharp rise in revenue and operational income.
Revenue shot up 87 percent year-on-year to Rs 1,315 crore while operating profit jumped to Rs 127.5 crore from Rs 33.1 crore and margin expanded by 500 basis points to 9.7%from 4.7% YoY.
2:20 PM
HDFC Securities report on Sundaram Finance
Buy at CMP and add on declines
Sequential Targets: Rs. 1860 & Rs. 2096
CMP: Rs. 1663
Sundaram Finance has seen slow growth in top and bottom line over the past three years due to its conscious strategy of conservatism in bad times. This has paid off as the NPA levels are much under control unlike a lot of its peers. The management has built a portfolio of assets over the past few years in the entire financial space whose values may keep rising as India’s economy becomes more formalized and savings are routed to formal financial avenues like Mutual funds, Insurance etc.
Benchmark indices end higher with Nifty above 10,150, and Sensex up over 100 points ahead of F&O expiry and Infosys earnings due later this week.
Markets hit fresh highs last week and analysts think upcoming corporate earnings will have an impact on the short-term trend. Infosys Ltd and Hindustan Unilever Ltd will report results on Tuesday and Wednesday, respectively.
Telecom stocks were in focus after Reliance Jio raised data tariffs last week, signalling more pricing discipline in the sector, while strong global markets also boosted sentiment.
Japanese shares jumped on a weaker yen as an election win for Shinzo Abe’s ruling bloc gave a green light for more policy stimulus.
 "Sensex ends 116 pts higher, Nifty settles above 10,150; Airtel up 5%")
