Sensex ends at fresh closing high, Nifty below 10,850; banks lead

All that happened in the markets today

3:44 PM

Top Sectoral loser: Nifty Realty

3:40 PM

Nifty Bank rallies 0.94% as govt may increase FDI in private banks

3:36 PM

Sectoral Trend

3:34 PM

Sensex top gainers and losers

3:32 PM

Market at close

Benchmark indices ended at fresh closing highs on Thursday, tracking global markets, with banking stocks contributing the most to gains amid expectations that the government would increase the foreign investment limits for banks.

 

The S&P BSE Sensex ended at 35,260, up 178  points while the broader Nifty50 index settled at 10,817, up 28 points.

3:22 PM

MCX gets Sebi's approval for deliverable futures contract in brass

 

MCX, the leading exchange for non-agri commodity derivatives, is for the first time in India planning futures contract in brass.

 

In another first for MCX, this metal contract, unlike other metals traded on the exchange, will be physical deliverable. Market regulator SEBI (Securities and Exchange Board of India) has already approved the contract's launch. Read more
 

3:13 PM

Here's what GST Council may announce today after the crucial meet

 

A fortnight ahead of the Union Budget, the Goods and Services Tax (GST) Council is likely to take up rationalisation of rates of about 70 items, of which at least 40 are services. Amendment in rules may also be taken up to simplify filing and plug some of the loopholes. A fitment committee of officers has made these recommendations to the Council, which will meet on Thursday.

 

With the aim to boost struggling agriculture and rural economy, and encourage clean energy, the Council is expected to rationalise rates of agriculture implements and unconventional fuel buses. It is the last Council meeting before Finance Minister Arun Jaitley presents his last full Budget on 1 February, before general elections in 2019. Read more

Finance Minister Arun Jaitley with (R) MoS for Finance Shiv Pratap Shukla, Arvind Subramanian Chief Economic Advisor and (L)Finance Secretary Hasmukh Adhia at 25th GST Council Meeting in New Delhi | Photo: Dalip Kumar

3:00 PM

Commodity bourse NCDEX appoints Vijay Kumar as MD & CEO for next 3 years

 

Leading commodity bourse NCDEX on Thursday announced the appointment of Vijay Kumar Venkataraman as the new Managing Director and CEO of the exchange for three years effective today.

 

He brings over 25 years of experience in leadership roles in the areas of commodity trading and merchandising along with risk management, logistics and operations, it said. Read more
 

2:46 PM

Earnings

UltraTech Cement, part of the Aditya Birla Group, on Thursday posted a 23% drop in third-quarter profit, hurt by rising pet coke and coal prices.

Profit fell to Rs 4.56 billion ($71.4 million) for the quarter ended Dec 31, from Rs 5.95 billion a year ago, the company said. 

Earnings Impact

2:33 PM

Market Check

S&P BSE Sensex	35,357.89		0.79%
Nifty 50	10,855.05		0.62%
S&P BSE 200	4,776.79		-0.03%
Nifty 500	9,688.75		0.02%
S&P BSE Mid-Cap	17,653.68		-1.55%
S&P BSE Small-Cap	19,402.45		-1.45%

2:17 PM

GIFT City wants regulatory tweaks to bring IFSC on par with global centres

 

Gujarat International Finance Tec-City Company Limited (Gift) said on Wednesday that a host of regulatory changes will bring India’s first international financial services centre on a par with such well-established centres in Singapore and Hong Kong.

 

The measures include waiving short-term capital gains tax on derivatives trade, allowing retail investors to trade and removing regulatory hurdles to make it attractive for foreign portfolio investors. Click here for full story

2:00 PM

HDFC Bank, HDFC, ITC contribute over 50% of Sensex 400 points rally

 

HDFC twins – HDFC Bank and Housing Development Finance Corporation (HDFC) - and fast moving consumer goods (FMCG) giant ITC collectively contributed more than half of the Sensex 400 points rally.

 

The index hit a new high of 35,507 in intra-day trade today.

 

Besides, three stocks – ICICI Bank, Larsen & Toubro (L&T), IndusInd Bank, Maruti Suzuki India and YES Bank, these five stocks combined contributed 130 points of the total benchmark index rally.

 

HDFC Bank, HDFC, L&T and Hindustan Unilever are four stocks from the Sensex hit their respective all-time highs in intra-day today.

Click here for full story

1:46 PM

Agri input firms likely to earn robust profits in Q3 ahead of rabi season

 

Companies making agricultural inputs are set to post better profits in the December quarter due to rising demand of seeds, agro-chemicals and fertilisers in the rabi season.

 

The trend is likely to continue in the second half of the financial year with both the top and bottom lines of farm input companies expected to witness robust growth. The first half of the year was affected by inventory buyback in the run-up to the imposition of the goods and services tax and delayed monsoon rainfall. Read more
 

1:38 PM

Why LTCG tenure should be increased, and STCG scrapped

 

It’s that time of the year when we all turn children and ask for gifts from our very own Santa – the finance minister. Demands for increase in basic exemption limit, tax-saving investment limit and interest deduction for self-occupied house’s limit are the perennial favourite toys sought by us.

 

This year, ahead of Budget 2018, the demands are shriller, since it is the last full Budget before the elections in 2019. And, Finance Minister Arun Jaitley is expected to provide gifts. Read more

1:18 PM

Mindtree soars 11% on strong Q3 results

 

Mindtree hit a 52-week high of Rs 694, up 11% on the National Stock Exchange (NSE) in intra-day trade, after the compared reported a better than expected 13.4% quarter on quarter (q-o-q) growth in net profit at Rs 1.41 billion for December quarter (Q3FY18). The information technology services company had profit of Rs 1.03 billion in previous quarter.

 

Operational revenue grew 3.4% q-o-q at Rs 13.78 billion against Rs 13.32 billion in September quarter. In dollar terms, Mindtree’s revenue grew 3.9% q-o-q at $ 214.3 million. READ MORE