Sensex ends 244 pts lower, Nifty below 10,450; banks, IT, auto fall

All that happened in the market today

The benchmark indices fell over 200 points amid sell off on the first day of the new year led by losses in banks, IT and auto stocks.
 

Meanwhile, The Insolvency and Bankrutpcy Code (Amendment) Bill, 2017, that debars wilful defaulters and existing promoters from bidding for stressed assets of companies undergoing insolvency proceedings, was passed in the Lok Sabha on Friday.

Auto stocks were in focus as auto firms start disclosing monthly sales numbers for December 2017. 

Meanwhile, Overseas investors have pulled out close to Rs 5,900 crore from domestic equities this month, with widening fiscal deficit and higher crude prices making market participants cautious on macro-economic front. In spite of December performance, foreign portfolio investors (FPIs) ended the year with a net inflow of over Rs 51,000 crore.

3:44 PM

IT stocks decline, TCS top loser among pack

Source: NSE

3:42 PM

Auto stocks in focus

Source: NSE

3:40 PM

Sectoral Trend

Source: NSE

3:38 PM

Top Sensex gainers and losers

Source: BSE

3:36 PM

Markets at close

The S&P BSE Sensex e nded the day at 33,812, down 244 points while the broader Nifty50 ended the day at 10,435, down 95 points

3:17 PM

IndusInd Bank raises Rs 3,193 cr from overseas lenders to expand business

 

IndusInd Bank on Monday said it has raised $500 million (about Rs 3,193.75 crore) term loan from overseas lending bodies to expand its business.

 

The private sector bank has concluded the syndicated term loan facility from a group of overseas investors, it said in a regulatory filing.

 

The fundraising, along with the funds raised during the ongoing financial year from multilateral institutions ADB and OPIC, will help the bank expand its lending to clients, it said. READ MORE

3:07 PM

Auto sales

Auto major Mahindra and Mahindra (M&M) reported an 8% increase in total sales at 39,200 units in December.

 

It had sold 36,464 units in the same month previous year, M&M said in a statement.

2:55 PM

Buzzing Stock

 

Share price of Phoenix Mills rose 6 percent intraday Monday as it has acquired 22.67% stake in its subsidiary company.

 

The company has entered into a share purchase agreement (SPA) with HBS Realtors (HBS) and Graceworks Realty & Leisure (GRLPL) on December 29, 2017 for acquisition of entire 22.67 percent shareholding of HBS in GRLPL, a subsidiary of the company.

2:45 PM

Maruti auto sales

 

The country's largest car maker Maruti Suzuki India (MSI) today reported 10.3% increase in total sales at 1,30,066 units in December 2017 compared to 1,17,908 units in the same month of 2016.

 

The company's domestic sales stood at 1,19,286 units, up 12.1%from 1,06,414 units in December 2016, MSI said in a statement.

2:32 PM

Buzzing Stock

 

Shares of Bank of India added nearly 5% intraday Monday as it has received fund from government of India.

 

The bank has received infusion of Rs 2257 crore from Government of India in the form of common equity tier- 1 capital, which is being kept as share application money and would be allotted after following due procedure/conditions for allotment.

2:09 PM

Markets check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	34,030.63	-26.20	-0.08
S&P BSE SENSEX 50	10,971.60	-8.18	-0.07
S&P BSE SENSEX Next 50	37,036.91	+187.53	+0.51
S&P BSE 100	11,032.33	+2.55	+0.02
S&P BSE Bharat 22 Index	3,784.78	+12.53	+0.33

Source: BSE

1:48 PM

Buzzing stocks

 

Shares of Anil Ambani led Reliance Group (ADAG) companies continued their upward journey and rallied by up to 28% on the BSE on the back of heavy volumes in an otherwise subdued market.

 

Reliance Power, Reliance Home Finance, Reliance Naval and Engineering and Reliance Capital were up more than 4% each. On comparison, the S&P BSE Sensex was trading 5 points lower at 34,052 at 12:45 PM. Reliance Power and Reliance Nippon Life Asset Management have hit their respective 52-week highs on the BSE in intra-day trade. READ MORE

1:33 PM

Market outlook by Kotak Institutional Equities

 

CY2017: It’s not coming back. 

 

The Indian market’s (Nifty-50 Index) 29% return in CY2017 sets a high bar for CY2018, especially as a large part of our 23% growth in net profits for FY2019 may be largely discounted in the market’s current high valuations. The market’s performance in CY2018 will largely depend on (1) FY2019E earnings being met (largely discounted) and (2) continued confidence in FY2020E earnings as domestic and global macro-environment factors may be less favorable than in CY2017.

1:21 PM

Domestic, global flows are expected to stay favourable in early 2018

 

Benchmark indices gained about 28-29 per cent in 2017, their best yearly performance in three years. The gains came despite corporate earnings disappointing and the economy growing at a sluggish pace. Many stocks saw their valuations get re-rated, taking multiples way above their historic averages. This was made possible by the highest-ever investments by domestic mutual funds (MFs) and supportive global portfolio flows. READ FULL STORY

12:59 PM

Gayatri Projects hits 52-week high

 

Gayatri Projects hits 52-week high of Rs 235, up 4% on the BSE, after the company announced it has bagged a new order of Rs 583 crore contract from National Highways Authority of India (NHAI).

 

The order is for rehabilitation and uprgadation of Cuttack-Angul Section of NH-42 (NEW NH-55) to 4-lane (km. 0+400 to k.m.60+200) in the state of Odisha under NHDP Phase-III on EPC Mode, pkg-1, Gayatri Projects said in a statement. READ MORE