MARKET WRAP: Sensex slips 8 points on last day of CY18; gains 6% YoY

The domestic equity market ended the last trading day of the calendar year 2018 (CY18) on a flat note.

The S&P BSE Sensex closed the session at 36,068, down 8 points, while, the National Stock Exchange's (NSE's) Nifty50 index added just 3 points to settle at 10,863.

The broader market indices, however, outperformed their headline peers, with the S&P BSE MidCap index gaining 78 points or 0.5 per cent to settle at 15,438, and the S&P BSE SmallCap index rose 0.7 per cent or 101 points to end at 14,707 level.

MARKET IN 2018

The Sensex gained 5.91 per cent during the year gone by, while the 50-share index of NSE gained 3.15 per cent.

Among sectoral indices on NSE, the Nifty Bank index rose 6.35 per cent during the year. In the broader market, the S&P BSE MidCap index fell 13.38 per cent during the year, while the S&P BSE SmallCap tumbled 23.53 per cent.
 

Global Markets

Asian stocks rose on Monday as hints of progress on the Sino-US trade standoff provided a rare glimmer of optimism in what has been a rough year-end for equities globally.

Sentiment had brightened just a touch when US President Donald Trump said he held a "very good call" with China's President Xi Jinping on Saturday to discuss trade and claimed "big progress" was being made.

MSCI's broadest index of Asia-Pacific shares outside Japan added 0.6 per cent but was still down 16 percent for the year. Japan's Nikkei was closed for a holiday having ended the year with a loss of 12 per cent. Across the region, the worst performer of the year was the index of Chinese blue chips, which lost a quarter of its value.

(with Reuters inputs)

4:00 PM

S&P BSE Sensex: Top gainers and losers

3:37 PM

Market at close

 

The S&P BSE Sensex ended flat at 36,068, down 8 points while NSE's Nifty50 index settled at 10,863, up just 3 points.

3:25 PM

Butterfly Gandhimathi up 20% as CRISIL upgrades rating for bank facilities

Shares of Butterfly Gandhimathi Appliances were locked in the upper circuit of 20% at Rs 299 on the BSE, after the credit rating agency CRISIL revised its outlook on the long- term bank facilities of the company to 'Positive' from 'Stable’.
 

Till 03:00 pm, around 28,000 equity shares changed hands and there were pending buy orders for 6,989 shares on the BSE, the exchange data shows. READ MORE

3:07 PM

From Bezos to Zuckerberg: World's billionaire winners and losers of 2018

 

The popularity of Fortnite, the phenomenon that forced some into video-game rehab, gave gamemaker Tim Sweeney a $7.2 billion fortune this year. Autry Stephens has $11.4 billion after his closely held Endeavour Energy Resources LP attracted bids that valued the oil company at as much as $15 billion. READ MORE

2:54 PM

EPFO subscribers may be allowed to invest more in equity markets in 2019

Subscribers of the retirement fund body EPFO may get an option in the new year to invest more of their savings in the equity market, besides a host of other social security benefits and digital tools to manage their funds. 

 

At present, the Employees' Provident Fund Organisation (EPFO) invests up to 15 per cent of its investible deposits into the exchange-traded funds (ETFs) and so far such investments total about Rs 550 billion. READ MORE

2:43 PM

Metals, PSU banks, realty top sectoral gainers

2:34 PM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	36,087.11	+10.39	+0.03
S&P BSE SENSEX 50	11,374.62	+10.91	+0.10
S&P BSE SENSEX Next 50	33,049.14	+167.68	+0.51
S&P BSE 100	11,169.70	+17.30	+0.16
S&P BSE Bharat 22 Index	3,496.30	+4.53	+0.13

2:16 PM

BHEL bags Rs 3.5k cr order for setting up 660 MW thermal unit in West Bengal

State-run BHEL on Monday said it has bagged an order worth Rs 3,500 crore for setting up a 660 MW supercritical thermal power plant in West Bengal. The order by West Bengal Power Development Corporation (WBPDCL) entails setting up a 660 MW Sagardighi Thermal Power Project at Manigram village in Murshidabad district of West Bengal, BHEL said in a statement. READ MORE

2:03 PM

After staying range-bound, gold likely to trade with an upward bias in 2019

After staying range-bound for several years, gold is expected to trade with an upward bias in 2019. A decade-long bull run in gold from 2001 to 2011 when it gained over six times, was followed by a 40 per cent decline by 2015.

 

Since then it has traded in a range between $1,150 and $1,350 per ounce in international markets. In 2018, prices are still lower by 1.9 per cent in dollar terms but in India gold went up 7.9 per cent from Rs 29,240 to Rs 31,550 per 10 gm, due to rupee depreciation. READ MORE

1:48 PM

Tube Investments up for third straight day; stock hits new high

Shares of Tube Investments of India, a Murugappa Grou company, were trading higher for the third straight day, rising 5% to Rs 359 per share, hitting a new high on the BSE in an otherwise range-bound market, on expectations of strong earnings growth. The stock surpassed its previous high of Rs 350 touched on December 13, 2018, in intra-day trade. READ MORE

1:37 PM

ICRA maintains stable year-end outlook for the steel sector

 

ICRA has given a stable outlook for the steel sector, in its year end assessment of the sector. The Government’s thrust on infrastructure, in particular towards affordable housing, power transmission, and the Railways in the Union Budget 2018-19 is likely to keep domestic steel consumption growth favourable in the medium term, which is expected to grow by 7 per cent during FY2019 as well as FY2020. 

1:25 PM

WEB EXCLUSIVE | Only 1 stock in the BSE 500 pack gave over 100% returns in CY18

 

The equity market had quite a rough ride in the calendar year 2018, owing to rising interest rates, sharp increase in oil prices and a consistent decline in the value of the rupee. This apart, trade war tensions between two of the biggest economies in the world — the US and China — and a host of unfavourable developments back home, ranging from PNB scam to IL&FS crisis triggering a massive sell-off in the NBFC space, dented investor sentiment in a big way. READ MORE

1:10 PM

SAURABH MUKHERJEA | From stock markets to banking system, what to expect in Lok Sabha poll year

Opportunities Data clearly shows that the political affiliation of the government has little or no impact on India’s economy (since there are almost no ideological differences regarding economic policy between India’s main political parties). READ MORE

12:46 PM

Metals may recover on positive oil demand-supply equation in 2019: Experts

After a year of downturns, resource commodities are expected to recover largely on the back of China’s economy recovering in 2019 on the back of government-infused stimulation and extension of production cuts by oil producing countries. Metals are likely to recover on positive demand-supply equation, while experts say crude oil may have bottomed out, even as the annual average price may be lower than in 2018. READ MORE

12:39 PM

Asian Granito nears 52-week low; stock slips 13%

Shares of Asian Granito India slipped 13% to Rs 162 per share on the BSE in intra-day trade after the company's promoter and managing director Mukeshbhai Patel was arrested by Directorate of Revenue Intelligence on Friday for a case related to an amount of Rs 35 million. Patel was released on bail on Saturday, the company said in a press release. READ MORE