Nifty ends above 10,250, up 1.4% for the week; Sensex ends 301 pts higher

All that happened in the market today

10:40 AM

Foreign brokerages expect bull run to continue in 2018

 

Indian equities have rallied more than 25% in 2017, but most equity strategists are not yet calling an end to the bull market.

 

Foreign brokerages forecast the benchmark Nifty to deliver returns of more than 15 per cent by December 2018.  Equity strategists are basing their expectation on strong corporate earnings recovery, supportive global economic growth, and gradual improvement in business sentiment. READ MORE

10:31 AM

CENTRUM BROKING ON FIEM INDUSTRIES (Rating: Buy; Target Price: Rs 1,260)

 

We maintain our Buy rating on FIEM Industries with TP of Rs1,260. We expect FIEM’s growth to continue aided by strong growth prospects of its two biggest clients namely Honda Motorcycle and Scooter India (HMSI) and TVS Motor. 2QFY18 top-line performance was above estimates as auto segment posted strong growth. Had it not been for issues in LED business, the performance would have looked much stronger.  

 

Recently FIEM has faced several issues in its LED business, due to an unfavourable business environment. LED business reported a loss at EBIT level due to declining sales. Despite slightly lower visibility in the LED business, we remain convinced of FIEM’s medium-to-long-term growth opportunity as the company continues to remain a strong 2W auto ancillary company. Also, the management is working on several fronts to get the LED business on track which will provide additional growth in the long run

10:30 AM

CENTRUM BROKING ON DISH TV (Rating: Buy; Target Price: Rs 94)

 

We maintain our BUY rating on Dish TV and revise our target price to Rs94 (9x FY19E EV/EBIDTA). Merger synergies with Videocon d2h on the back of lower content cost, warehousing and logistics would add to margins. Further full positive impact of GST would come from Q3FY18 leading to higher margins. While ARPU growth would be gradual, we believe the initiatives such as hybrid STB, focus on HD subscribers which are 30% of incremental subscribers, a-la-carte pricing and prudent price hikes would help in medium term. Maintaining one million subscriber guidance for FY18 is a positive

10:27 AM

MARKET OUTLOOK

 

At this juncture, our preference is for companies that have room for further expansion in valuations and improving earnings trajectory. We like stocks in infrastructure (roads and building segment focused EPC companies), Metals (aluminium players), potential healthy dividend paying cash rich PSU companies, Urban infrastructure (Smart meters and Namami Gange) and Defence (make in India).  Key risks to our recommendation would come from adverse outcome of Gujarat elections, geopolitical concerns globally, decline in liquidity from FIIs and domestic mutual funds, sharp currency movements and a spike in oil prices

 

(Source: Kotak Securities)

10:25 AM

Toyota to hike prices of all its car models by 3% from January 2018

 

Automobile manufacturer Toyota Kirloskar Motor on Thursday said that it will likely hike prices across its models by up to three per cent from January 2018. According to the company, it considered the price rise after reviewing input and freight costs periodically, which is also a general industry phenomenon. CLICK HERE FOR THE FULL STORY

Toyota logos are seen at City Toyota in Daly City, California, US | Photo: Reuters

10:22 AM

Future Consumer surges 15% on heavy volumes

 

Future Consumer surged 15% to Rs 67.50 on the BSE in early morning trade on back of heavy volumes after the media report suggested that Morgan Stanley initiated coverage of the stock with overweight rating. The foreign brokerage house predicted the one year target price of the stock price at Rs 95 per share.

10:20 AM

Bank stocks gain

Banking stocks continued their upward march on Friday, with the S&P BSE Bankex firming up nearly 1%.

10:17 AM

Sensex gains over 200 points

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,167.24	+218.03	+0.66
S&P BSE SENSEX 50	10,688.28	+77.81	+0.73
S&P BSE SENSEX Next 50	35,722.39	+359.43	+1.02
S&P BSE 100	10,729.23	+82.93	+0.78
S&P BSE Bharat 22 Index	3,698.44	+23.86	+0.65

(Source: BSE)

10:08 AM

Coinbase exchange at the heart of the bitcoin frenzy

 

The booming stock market of the 1920s had the New York Stock Exchange. The tech bubble of the 1990s had Nasdaq and E-Trade. And the virtual currency market of the last year has had Coinbase.

 

Coinbase has been at the centre of the speculative frenzy driving up the value of Bitcoin — which topped $13,000 on Wednesday — and similar currencies. While there are many Bitcoin exchanges around the world, Coinbase has been the dominant place that ordinary Americans go to buy and sell virtual currency. No company had made it simpler to sign up, link a bank account or debit card, and begin buying Bitcoin. READ MORE

9:54 AM

Most suspected shell firms get clean chit

 

Three months after suspending trade in 331 suspected shell companies, the capital market regulator, the Securities and Exchange Board of India (Sebi), has decided to take the investigation forward, but through forensic audit of only 10-12 firms.

 

According to sources, the stock exchanges have examined the credentials provided by these firms and submitted their report to the market regulator. After analysing the report, Sebi has picked only two companies out of the 48 suspected firms listed on the National Stock Exchange (NSE) for audit. Only eight companies out of 162 on the BSE have been picked for audit.

 

Sources say the rest of the firms have been given a clean chit in the matter, after verifying their documents. READ MORE

9:38 AM

Sectoral Trend

Source: NSE

9:29 AM

Top Sensex gainers and losers

Source: BSE

9:24 AM

Broader Markets

In broader markets, the BSE Midcap and BSE Smallcap indices were up 0.6% and 0.8% respectively

9:20 AM

Markets open

The S&P BSE Sensex was trading at 33,098, up 149 points while the broader Nifty 50 index was ruling at 10,209, up 43 points

9:11 AM

Derivative Strategy by HDFC Securities

 

Buy Nagarjuna Construction(NCC) December 125 call at Rs 4.35

 

Stop loss: Rs 3

Target: Rs 7

 

Rationale:

 

We have seen long positions being built in NCC futures today where we have seen open interest addition of 6% with price rise of 2%.

 

Stock price has already given breakout on the monthly chart in the month of November and recent mild correction is a buying opportunity