Nifty ends above 10,600 for first time ever, Sensex at record closing high

All that happened in the market today

3:37 PM

Sectoral Trend

Source: NSE

3:35 PM

Top Sensex gaienrs and losers

Source: BSE

3:33 PM

Markets at Close

Benchmark indicesend at record closing high with S&P BSE Sensex up 198 points at 34,352 while the broader Nifty50 index settled at 10,623, up 64 points

3:18 PM

Buzzing Stock

Sadbhav Infrastructure Projects shares gained 6 percent intraday following good growth in toll revenue collection.

 

Toll revenue received from its 10 operational special purpose vehicles (apart from NSEL which is an annuity project) stood at Rs 261.72 crore in Q3FY18, higher by 9 percent on sequential basis.

 

The company reported toll collection at Rs 240.17 crore in Q2FY18.

3:02 PM

Three companies to consider share buyback today; six to get nod in a month

 

The board of directors of three companies, Aarti Drugs, SJVN and Unichem Laboratories will meet today to consider share buyback.

 

The board of directors of six companies – Orbit Exports, Pidilite Industries, eClerx Services, Aarti Industries, Lovable Lingerie and Gandhi Special Tubes – approved buyback plans aggregating nearly Rs 958 crore in the past one month. Read More

2:55 PM

Sectoral Indices (NSE)

Sectoral Indices (NSE)

2:34 PM

Market Check

 

S&P BSE Sensex	34,328.58		0.51%
Nifty 50	10,608.35		0.47%
S&P BSE 200	4,738.18		0.56%
Nifty 500	9,626.95		0.56%
S&P BSE Mid-Cap	18,240.65		0.94%
S&P BSE Small-Cap	19,873.04		0.85%

2:15 PM

Federal Bank vaults after large bulk deal

 

Federal Bank gained 3% to Rs 114.95 on BSE after a large bulk deal of 47.80 lakh shares was executed on the scrip at Rs 114.75 per share at 12:05 IST on BSE.

2:02 PM

Prakash Industries hits 52-week high

 

Prakash Industries has moved higher to its fresh 52-week high of Rs 224, up 9 per cent on BSE in noon deal, after the company reported 5.8 times jump in net profit at Rs 1 billion in December quarter (Q3FY18). It had profit of Rs 117 million in Q3FY17.

 

Prakash Industries primarily engaged in steel business said the growth of profitability was on the back of better sales realisation, higher volumes and major cost savings. READ MORE

1:45 PM

Budget 2018 needn't be populist

 

A view, currently shared by a large number of people, is that the Union government’s Budget for 2018-19 will be populist. The argument is that this will be the last full Budget of the Modi government in its current tenure.

 

Hence, it will make sense for Finance Minister Arun Jaitley to dole out freebies and concessions in his final Budget in an attempt to woo voters Such assumptions are flawed, based as they are on an incomplete and outdated understanding of the factors that influence the making of the Budget. READ FULL OPINION 

1:30 PM

Buzzing stock 

 

Satin Creditcare Network (SCNL) soared 18% to 512, its fresh 52-week high on BSE in noon deal trade, after the company said Kora Management LP (Kora) – a global emerging markets investment firm – has made an equity investment of Rs 80 crore in SCNL to support the company’s growth and digital initiatives as a financial services provider to rural and semi-rural India. READ MORE

1:19 PM

Buzzing stocks 

Manappuram Finance, Larsen & Toubro (L&T), Titan Company, Bharat Forge, Biocon, JSW Steel, Unichem Laboratories and Dabur India were among 34 stocks from the S&P BSE500 index hitting their respective new highs on BSE on Monday.

 

The stock of microfinance company Manappuram Finance rallied 5% to Rs 126, surpassing its previous high of Rs 125 touched on December 29, 2017 in intra-day trade. READ FULL REPORT

1:02 PM

Market Check

 

S&P BSE Sensex	34,354.51		0.59%
Nifty 50	10,618.25		0.56%
S&P BSE 200	4,740.87		0.61%
Nifty 500	9,633.25		0.62%
S&P BSE Mid-Cap	18,237.79		0.93%
S&P BSE Small-Cap	19,903.64		1.01%

12:48 PM

Why the Indian economy faces an ominous New Year in 2018

 

You’d think the Indian economy had returned to rosy health. It seems to have recovered from two enormous disruptions -- Prime Minister Narendra Modi’s decision just over a year ago to withdraw 86 percent of the currency in circulation, and the poorly-planned rollout in the middle of 2017 of a new goods-and-services tax. Exports are no longer declining, as they had for several quarters; indeed, for the last month that data is available, they rose 30 percent. The Purchasing Managers’ Index expanded the fastest it has in five years. At least one international ratings agency has upgraded India’s credit rating.

 

Most importantly, growth sped up last quarter for the first time since early 2016. There’s every reason to think it’ll bounce back towards the 7-7.5 percent range shortly. READ MORE

12:34 PM

Quarterly preview: Markets to see sustainable earnings growth after years

 

As a new year beckons upon us and as we reflect nonchalantly over the stupendous returns that the markets have delivered in the year gone by, it is time to introspect and reflect upon what the markets can deliver in the quarters to come. 

 

There is a silent anticipation and an inbuilt optimism about earnings recovery, which is expected to start taking shape beginning this quarter. This is expected to pave the way for a sustainable earnings growth that has been eluding the markets over the past few years. Albeit, when one compares this quarter’s numbers against last year’s numbers, the obvious assumption of a low base due to the ripple effects caused by demonetisation (last year working in favour of the reported numbers) shall be evident - both - on an absolute and relative basis.  READ MORE