Market rundown by Vinod Nair, Head of Research, Geojit Financial Services
"Widened fiscal deficit and increasing fuel price on account of volatility in crude prices dampened the market sentiment. Mid & small cap underperformed but silver lining was seen in IT index on expectation of turnaround in spending. If the earnings season pick up steam as per the expectation of 15-20% YoY EPS growth for Nifty & Sensex in Q3, the underlying positive trend in the market will be maintained. "
3:42 PM
Top sectoral loser: Nifty Realty
3:40 PM
IT stocks rally, Nifty IT up 3%
3:38 PM
Sectoral Trend
3:36 PM
Sensex Top gainers and losers
3:34 PM
Markets at Close
Benchmark indices were rangebound on Tuesday as gains in IT stocks were offset by losses in oil refiners such as Hindustan Petroleum Corp, with sentiment dampened after data showed the country’s trade deficit widened in December.
The S&P BSE Sensex settled at 34,771, down 72 points while the broadeer Nifty50 index ended at 10,700, down 41 points.
3:25 PM
IPO nod
Speciality chemicals manufacturer Galaxy Surfactants has received capital markets regulator Sebi's go-ahead to raise an estimated Rs 1,000 crore through an initial public offer (IPO).
The company had filed its draft papers with Securities and Exchange Board of India (Sebi) in November last year and obtained 'observations' from the regulator on January 12, 2018, the latest update with markets watchdog showed.
Sebi's observations are very important for any company to launch a public offer.
3:14 PM
BSE Smallcap, Midcap index under pressure; down 2%
Shares of mid and smallcap companies were under pressure with the S&P BSE Midcap and S&P BSE Smallcap index were down up to 2% on profit booking.
Uttam Galva Steels, Indosolar, Jaypee Infratech, Gujarat Narmada Valley Fertilizers & Chemicals (GNFC), Kaya, Subex, Unitech, Electrosteel Castings and Equitas Holdings from smallcap index were down more than 7%. National Aluminium Company, Federal Bank, IDFC Bank, Steel Authority of India (SAIL) and IDBI Bank from midcap index down in the range of 5% to 8% on BSE. READ MORE
3:00 PM
Why Jaitley should not focus on growth numbers while preparing Budget 2018
Spare a thought for Finance Minister Arun Jaitley. When Mr Jaitley presents his Budget next month, he must know that he doesn’t have a handle on the all-important number, namely, the growth estimate for India’s gross domestic product (GDP).
The growth in GDP (along with the inflation rate) determines the increase in tax revenue. It also determines the denominator in the fiscal deficit to GDP ratio, perhaps the most closely watched number in any Budget. Click here for full article
2:45 PM
GNFC slips 11% on closure of Dahej plant
Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) slipped 11% to Rs 481 on BSE after the company said that it has decided to close TDI-II plant at Dahej indefinitely following leakage.
“In the morning on 15th January, 2018, there has been a sudden leakage at TDI-II Plant, Dahej, which called for Plant shutdown at Dahej. Due to safety measures already put in place by the Company over a period of time, neither there is any property damage nor any loss of life,” GNFC said in a regulatory filing. Read more
2:30 PM
BNP Paribas sees value in Indian stocks even as indices hit new highs
By at least one measure, Indian equities look attractive relative to their regional peers even after posting new records in the new year.
That’s the view of BNP Paribas, which forecasts the benchmark S&P BSE Sensex to post its third annual gain in 2018, helped by a revival in company earnings and economic growth. Read more
2:16 PM
Bonds fall after RBI deputy governor warns banks of high interest rate risk
Bond yields spiked on Tuesday morning after a deputy governor of the Reserve Bank of India (RBI) said public sector lenders face risks of high interest rate from their large bond holdings.
The statement was seen by traders as hawkish and as a message asking them to bring down their bond holdings. Read more
Federal Bank dipped 7% to Rs 105 on BSE after the private sector lender’s gross and net non-performing assets in December quarter (Q3FY18) rose sequentially.
During the quarter, the gross non-performing assets (NPAs) rose to 2.52% from 2.39% at the end of the second quarter of current fiscal. Net NPAs of the bank stood at 1.36% as against 1.32% reported in the September quarter (Q2FY18). Read more
1:33 PM
Over a quarter of equity mutual fund assets in top 10 stocks list
Equity mutual funds’ (MFs’) exposure to the top 10 stock holdings stood at Rs 1.76 trillion at the end of December, up from Rs 1.04 trillion a year ago. These 10 stocks account for 26.9 per cent of total equity assets under management (AUM), slightly below 27.1% in December 2016, data provided by Value Research shows. Because of robust inflows into equity schemes coupled with a sharp rally in stock prices, equity AUM (of pure-play schemes) have grown nearly 70% to Rs 6.5 trillion.
The exposure to top 20 stocks by equity MFs is Rs 2.5 trillion, or 38.15% of equity AUM, while that to top 30 stocks is Rs 3 trillion, or 45.33% of equity AUM. Read more
Benchmark indices end flat but on a negative note on Tuesday as gains in IT stocks were offset by losses in oil refiners such as Hindustan Petroleum Corp, with sentiment dampened after data showed the country’s trade deficit widened in December.
India's December trade deficit widened to its highest in more than three years as higher import bills for gold and crude oil weighed on rising exports, government data showed on Monday.
The trade deficit widened to $14.88 billion last month from $13.83 billion in November, data from the Ministry of Commerce and Industry showed.
Oil refiners fell as global oil prices rose to near three year highs due to production curbs in OPEC nations and Russia and robust demand from healthy global economic growth.
 "Sensex ends above 35,000 for first time, Nifty hits 10,800; banks, IT lead")
