Among broader markets, BSE Midcap and BSE Smacap indices ended 0.1% and 0.3% higher
3:37 PM
Markets at Close
Benchmark indices ended marginally lower on Thursday on expiry of derivatives contracts and on lingering concerns over government borrowing exceeding target, but metals stocks such as Vedanta rose tracking global commodity prices.
The S&P BSE Sensex ended the day at 33,848, down 63 points while the broader Nifty50 index settled at 10,477, down 12 points
3:23 PM
Stake Buy
Steel Strips Wheels said Kalink Company had acquired 13,015 equity shares of the company during the quarter ended December 31, 2017 through open market under foreign portfolio investment. The date of purchase of shares was November 30.
Kalink is also holding 2,09,525 equity shares in the company, which had been subscribed under foreign direct investment on June 10, 2016.
3:15 PM
Buzzing stock
Monnet Ispat shares jumped nearly 13% intraday after a media report indicated that Aion Capital and JSW Steel submitted a Rs 3,500-crore resolution plan.
Monnet Ispat, which has debt worth more than Rs 10,000 crore, is among the first 12 cases identified by the Reserve Bank of India under insolvency and bankruptcy code.
3:06 PM
TCS faces class-action suit in US over alleged anti-American bias
Information technology (IT) services major Tata Consultancy Services Ltd (TCS) is facing a legal trial in the US over claims of its alleged biased against American workers, Bloomberg reported on Thursday.
According to the report, TCS' request to dismiss a 2015 lawsuit that accused it of violating anti-discrimination laws by favouring South Asians was rejected by a federal judge in California. Further, in an additional setback for the company, on behalf of American workers who lost their jobs at TCS offices in the US, the federal judge expanded the case into a class-action suit, the report added. READ MORE
2:54 PM
Buzzing in trade
Nahar Capital & Financial Services fell 7.44% to Rs 204 on BSE on profit booking after a recent rally.
On the BSE, 44,000 shares were traded in the counter so far, compared with average daily volumes of 48,000 shares in the past two weeks. The stock had hit a high of Rs 227 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 200.55 so far during the day. The stock hit a 52-week low of Rs 88.65 on 5 January 2017.
2:30 PM
RCom rally continues
Reliance Communications surged 16 percent now, taking total three consecutive days' gains to more than 105%. The rally is after Anil Dhirubhai Ambani announced mega debt restructuring plan for the company that has debt of Rs 45,000 crore.
2:17 PM
Metals rise
Metals stocks climbed as copper prices extended gains to hit a near four-year high after a jump in China’s imports of the metal boosted expectations of stronger demand from the top consumer.
Vedanta rose as much as 2.7%, and was on track for a third straight session of gains.
What top global brokerages forecast for Indian markets in 2018:
With the S&P BSE Sensex and the NSE Nifty rising over 30% each in 2017, most global brokerages are of the view that the bull run would continue in 2018. They forecast the benchmark Nifty to deliver returns of 10-15% by December 2018 on supportive global economic growth, and gradual improvement in business sentiment. The returns will mostly be in line with growth in corporate earnings in the 2018 calendar year, they suggest.
Top global brokerage Goldman Sachs is of the view that the Nifty50 will touch 11,600 by December 2018. It pegs earnings growth at 18% and 17% for CY18 and CY19, respectively.
Click here to find out what top brokerages’ forecast for Indian markets in 2018
1:30 PM
In Q4, SBI to raise Rs 8,000-cr capital via AT1 bonds
State Bank of India plans to raise capital worth Rs 8,000 crore through additional tier-I bonds (AT1 bonds) by March 2018.
The board of directors of the country’s largest lender has given a nod to raise additional tier-I capital (AT1) of Rs 8,000 crore through Basel-III-compliant debt instruments, SBI informed the BSE.
The lender has an option to issue bonds, in domestic and international markets in rupee and US dollar, till March 31, 2018. The bank could also issue masala bonds to international investors for raising AT1 capital. READ MORE
1:19 PM
Buzzing Stock
Star Cement rose 5.91% to Rs 136.10 on BSE after the company said it received Rs 158.82 crore as capital investment subsidy from the central governmen
Benchmark indices ended marginally lower on Thursday on expiry of derivatives contracts and on lingering concerns over government borrowing exceeding target, but metals stocks such as Vedanta rose tracking global commodity prices.
The Centre, on Wedensday, said that it looks set to breach the fiscal deficit target this year, with lower-than-expected revenue prompting it to go for additional borrowing of Rs 50,000 crore from the market. The borrowing is over and above the budget estimate of Rs 5.80 lakh crore for 2017-18, which would lead to the government missing its fiscal deficit target of 3.2% of the gross domestic product (GDP) for the first time in four years.
At the same time, the government lowered its borrowing through short-term treasury bills by Rs 61,203 crore. This has made the task of exactly calculating the fiscal deficit a bit tedious exercise.
That sent the yield on the benchmark 10-year bond up as much as 11 basis points to a 17-month high, though the reaction in shares was more muted.
Caution also set in ahead of the expiry of futures and options contracts at the end of the session.
 "Nifty settles December F&O expiry below 10500, Sensex ends marginally lower")
