Nifty gained over half a percent amid volatility, in continuation to the prevailing sideways trend. The decision of rate hike by the US Fed fell in line with the market expectation and hence failed to generate much buzz in early trades. After initial uptick, Nifty drifted lower and tested 10150. However, the mood changed completely in the latter half and it made a strong recovery to end with decent gains.
With the end of second phase of voting in Gujarat, exit polls will start pouring in and markets would react accordingly. Nifty has been hovering in a broader band i.e. 10050 and 10350 and either side decisive break will trigger the next directional move. We suggest continuing with hedged approach and waiting for further clarity.
3:42 PM
Sensex heatmap at close
Source: BSE
3:38 PM
Markets at close
The S&P BSE Sensex settled at 33,246, up 193 points, while the broader Nifty50 ended at 10,252, up 59 points.
The Waterbase Limited (TWL) hit a new high of Rs 275, up 20% on the BSE, extending its past one month rally, after the company reported nearly four-fold jump in net profit at Rs 9.4 crore in September quarter (Q2FY18). The company engaged in food products business had posted profit of Rs 2.6 crore in a year ago quarter. READ MORE
3:20 PM
Buzzing stock
Shemaroo Entertainment gained nearly 3% to Rs 409 on BSE after the company's consolidated net profit rose 24.15% to Rs 18.71 crore on 18.19% rise in total income to Rs 134.57 crore in Q2 September 2017 over Q2 September 2016.
3:08 PM
Sectoral trend in last leg of trade
Source: NSE
2:46 PM
Centrum Broking on Sarla Performance Fibers
We maintain our BUY on Sarla Performance Fibers with a revised TP of Rs 78 as we value the company based on our conservative adj. OCF based methodology. Management has temporary closed the Sarla Flex manufacturing unit in USA due to low capacity utilisation which would reduce operating loss to Rs 55 million in FY18E from Rs 169 million in FY17. Further management is looking for a partner to run the plant together which would offer consistent long term demand. Initial implementation issues of GST has been behind and management is confident of volume growth from H2FY18 in the domestic business. While lower gross margin is a worry, management is confident the product mix change would help in the margin expansion over medium term.
2:32 PM
Markets check
At 2:30 pm, the S&P BSE Sensex was trading at 33,063, up 11 points, while the broader Nifty50 was ruling at 10,201, up 8 points.
2:21 PM
Buzzing stock
Partaap Snacks soared 10% to Rs 1,404 on the BSE in intra-day trade after the company reported more than doubled consolidated net profit at Rs 12.93 crore in September quarter (Q2FY18). It had profit of Rs 5.33 crore in the same quarter last fiscal.
The stock is trading at its highest level since listing on October 5, appreciated 50% against issue price of Rs 938 per share. The S&P BSE Sensex was up 5% during the same period. READ FULL REPORT
2:02 PM
Top five losers on Nifty
Source: NSE
1:50 PM
SIP flows now a deluge
The Rs 23-lakh-crore mutual fund (MF) industry is going through some structural changes.
Increasingly, many are investing in MF schemes through systematic investment plans (SIPs). So far this financial year, a record-breaking 4.5 million new SIP accounts have been added, taking the total tally to 18 million in the end November. The quantum of monthly flows through this mode is also on the rise, making historical highs every month. In 2017, the SIP monthly inflows have grown 48 per cent, from Rs 3,973 crore in December 2016 to Rs 5,893 crore in November READ MORE
1:30 PM
Tech Mahindra hits 52-week high
Tech Mahindra hit a 52-week high of Rs 517 on the BSE in intra-day trade in an otherwise weak market. In past seven trading sessions, the stock of IT consulting & software firm outperformed the market by gaining 11% from Rs 466 on December 5, after Tech Mahindra announced to hold analyst meet on December 8 to make presentations on the Company’s strategy and provide business updates. On comparison, the S&P BSE Sensex was up 0.42% during the same period. READ MORE
1:16 PM
Nov WPI inflation jumps to 3.93%
Inflation based on wholesale price index (WPI) accelerated further to 3.93 per cent in November due to a sharp rise in onion prices and costlier seasonal vegetables, government data showed today.
It was 3.59 per cent in October this year, and 1.82 per cent in November last year. READ FULL REPORT
As bitcoin raced to another record high on Tuesday, one of the biggest providers of digital currency wallets, Coinbase, went down under the weight of traffic, leaving many of its more than 10 million customers unable to access their funds.
At the same time, Bitfinex, the world’s biggest bitcoin exchange by trading volume, said it was under a heavy denial-of-service (DDoS) attack, meaning its servers had been intentionally flooded with junk online requests, taking down its website and crippling its services.
The latest outages show how the market infrastructure for an immature and volatile instrument that millions of investors have piled into may be ill-equipped to cope with sudden shifts in demand, which is worrying some investors. READ MORE
In a volatile trading session, the benchmark indices ended higher as investors waited for early forecasts on the winner of a key state election, with sentiment also muted as inflation ticked higher and industrial output weakened.
Votes from the Gujarat election will be counted on December 18 and the results will be announced the same day, but markets were on edge ahead of exit polls due later on Thursday that usually indicate the likely winner ahead of official results.
The Nifty volatility index, a barometer of investor fear, hit its highest level since February 1 on Thursday.
Overseas, The US Federal Reserve raised interest rates for a third time this year on Wednesday, but left its rate outlook unchanged.
 "Sensex ends 193 pts higher, Nifty regains 10250 ahead of Gujarat exit polls")
