Business Standard

Sensex ends 509 pts lower, Nifty slips over 1%; Nifty Metal index down 2%

Catch all live market action here

Image SI Reporter New Delhi
MARKETS LIVE: Key things to watch out for before the opening bell

Bonds, Stock markets, Shares, Trading

12:46 PM

BSE Midcap: Shriram City, Canara Bank among top gainers, Reliance Infra top loser

12:31 PM

JP Associates rallies 35% in two days on Rare Enterprises stake buy

Jaiprakash Associates has moved higher by 15% to Rs 22, extending its Thursday’s over 15% surge on the National Stock Exchange (NSE), after Rare Enterprises purchased 30 million shares of the company worth Rs 551 million through open market. READ MORE
12:15 PM

Edelweiss ends deal to buy Religare Enterprises' securities unit

Edelweiss Financial Services Ltd said on Friday its acquisition of Religare Enterprises Ltd's securities business had been terminated for want of necessary approvals. READ MORE
12:01 PM

Markets at noon

 
S&P BSE Sensex 33,444.44 Up -0.72%
 
Nifty 50 10,286.95 Up -0.71%
 
S&P BSE 200 4,505.39 Up -0.57%
 
Nifty 500 9,085.45 Up -0.53%
 
S&P BSE Mid-Cap 16,358.73 Up -0.22%
 
S&P BSE Small-Cap 17,771.93 Up 0.10%

11:44 AM

Nifty PSU Bank up 4% in one week;Canara, Syndicate, Dena Bank up over 15%

Shares of public sector banks (PSBs) were in focus with the Nifty PSU Bank index rising 4% thus far in current week, to record its biggest weekly gain since November 2017. READ MORE
11:34 AM

Top Sensex losers

COMPANY LATEST PREV CLOSE LOSS() LOSS(%) VOLUME
TATA MOTORS 346.50 353.05 -6.55 -1.86 183007
O N G C 178.60 181.50 -2.90 -1.60 133584
NTPC 167.45 169.85 -2.40 -1.41 648635
TATA MOTORS-DVR 193.85 196.30 -2.45 -1.25 38070
ASIAN PAINTS 1147.35 1160.95 -13.60 -1.17 12111

11:28 AM

Jefferies on Shriram Transport Finance (SHTF)

We believe SHTF should benefit from stronger CV volumes, ticket size inflation and focus on widening distribution. Despite rising bond yields, NIMs should be broadly stable, given stronger pricing power in niche used CV segment, stable funding cost. Asset quality could improve and credit costs could fall driving 34% EPS CAGR and 430 bps ROE expansion over FY18-20E. At 2.1x FY19 BV, valuation appears reasonable. Buy.
11:26 AM

Here's what Morgan Stanley expects from FOMC meeting next week

We expect the Fed to hike its target range by 25bp at its March meeting with a hawkish bias in its projections. While too early to call for 4 hikes this year, the FOMC moves decisively in that direction. Our strategists suggest maintaining UST 2s30s curve flatteners.

Under Chair Powell's leadership, weexpect theFOMC to adopt the practice of holdinga press conferencefollowingeach of its 8 meetings peryear, likely to comeasan announcementat the December2018 meeting(to begin in 2019). While previous Chairs Yellen and Bernanke focused on beinghighly prepared for every press conference (making each one quite an endeavor for Chair and staff alike), Chair Powell has already shown in testimony he may be more willing to speak off the cuff, taking a more casual approach.

 

11:15 AM

IPO WATCH: HAL
 
Rating: Subscribe
 
Given strong balance sheet, robust order book and execution capabilities, we are constructive on HAL long term prospect. At an upper price band of Rs1,240, HAL is available at a reasonable valuation of 16x on FY17 EPS. As Indian defence industry is poised for growth, we recommend ‘Subscribe’ to the issue, with a long term perspective
 
(Source: Geojit Financial Services)
11:00 AM

INTERVIEW OF THE DAY
 
Broader index earnings growth to be in high single-digits: SBI Life CIO
 
Gopikrishna Shenoy, chief investment officer, SBI Life, expects 15%-plus earnings growth for Nifty companies for the next two financial years. He adds the trajectory of interest rates is likely to be upward and volatility in the bond market may likely continue for some more time. Read full interview here

 
10:46 AM

HAL IPO Analysis: Clear skies ahead for this public-sector defence major

India’s largest defence public-sector company Hindustan Aeronautics (HAL) has many things going for it. The maker of the indigenous light combat aircraft or the Tejas will be the biggest beneficiary of rising defence budgets and the ‘Make in India’ programme, as 60 per cent of India’s defence-related requirements are currently met through imports. READ MORE

10:40 AM

MARKET COMMENT Chris Wood of CLSA

Equity investors should be aware that Libor rates have picked up in recent weeks resulting in a widening “Ted spread” and Libor-OIS spread. This presumably reflects primarily funding pressures created by repatriation of offshore US corporate cash. But whatever the reason, this will lead to rising costs for wholesale funding-dependent financial institutions. It remains a positive, as well as a relief, for investors in Asian and emerging markets that the US dollar is still weak.
Christopher Wood
CLSA Managing Director & Equity Strategist Christopher Wood

10:39 AM

Gold policy likely to boost supply by Indian refineries
 
The government’s proposed gold policy, being finalised after recommendations from a NITI Aayog panel, should lead to a big rise in India’s sourcing of refined gold from local refineries.
 
Data compiled by the global gold miners’ body, World Gold Council, showed India’s total dore (unrefined gold) import was 245.7 tonnes for calendar year 2017, compared to 141.9 tonnes the previous year. READ MORE

Gold

10:17 AM

HEG hits new high; stock zooms 1245% in one year
 
HEG hit a new high of Rs 3,148, up 4%, extending its past four days 18% rally on the BSE in otherwise weak market on Friday. The company engaged in graphite electrodes business has outperformed the market by surging 23%, as compared to 0.61% rise in the Sensex thus far in the current week.
 
In past one year, the market value of HEG zoomed 1,245% from Rs 234, against 13% rise in the benchmark index. READ MORE
10:00 AM

Market Check

 
S&P BSE Sensex 33,528.75 Up -0.47%
 
Nifty 50 10,324.15 Up -0.35%
 
S&P BSE 200 4,519.02 Up -0.27%
 
Nifty 500 9,120.65 Up -0.15%
 
S&P BSE Mid-Cap 16,430.67 Up 0.22%
 
S&P BSE Small-Cap 17,835.52 Up 0.46%

Topics :

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Mar 16 2018 | 3:31 PM IST