Sensex ends above 34,500 for first time ever, Nifty at fresh closing high

9:19 AM

Top Sensex gainers and losers

Source: BSE

9:18 AM

Broader Markets

Broader Markets were trading in line with the benchmark indices with NSE Midcap and BSE Smallcap down 0.03% and 0.09% respectively

9:17 AM

Markets at Open

At 9:17 am, the S&P BSE Sensex was trading at 34,427, down 6 points while the broader Nifty50 was ruling at 10,622 down 9 points

9:13 AM

BSE and NSE to launch new IRF contracts from today

 

BSE and NSE will launch a new interest rate futures (IRF) contracts offering 7.17 percent yield on government bonds, from Thursday. The 10-year-bencmark bonds would mature on January 8, 2028, BSE and NSE said in separate circulars.

9:11 AM

Focus on jobs, farms, and fiscal consolidation: Economists tell PM

 

Fixing agricultural issues, generation of jobs, and fiscal consolidation dominated the deliberations at a pre-Budget meeting on Wednesday between Prime Minister Narendra Modi, his Cabinet colleagues, and economists and sectoral experts. In the day-long meeting, attended also by Finance Minister Arun Jaitley, economists suggested that the fiscal consolidation road map be adhered to, even as corporation tax be reduced from the current rate of 30 per cent.

 

Economists also favoured the reimposition of the long-term capital gains (LTCG) tax on listed securities and mutual funds, and the extension of the holding period of short-term capital gains (STCG) tax to three years from a year. They also wanted the Budget to have a fresh strategy on disinvestment, sources said. READ MORE

9:05 AM

Top trading ideas by Prabhudas Lilladher

 

BUY INDIA CEMENTS 

CMP: Rs 193 

TARGET: Rs 220 

STOP LOSS: Rs 182

 

The stock has moved significantly in the recent past and has made a new high and with the stock moving above the 200 DMA, there is still more upside potential remaining and it can scale upto 220-225 levels. The indicators has been favourable with a positive bias and with rising volume activity witnessed, we recommend a buy in this stock for an upside target of 220 keeping a stop loss of 182. 

Click here for more

 

9:00 AM

Nifty outlook by Prabhudas Lilladher

 

Nifty has been resisting at 10,650 levels and now a consolidation between the range of 10,650 and 10,580 can be witnessed and fresh upside movement can be confirmed only if it decisively gives a breakout above the 10,650 levels. However, the support for the day is seen at 10,580 while the resistance would be at 10,690 levels. READ MORE

8:55 AM

Run-up to Budget 2018-19: India's medium-term fiscal outlook under a cloud

 

It is now increasingly looking unlikely that the Centre will be able to meet its targets for key macroeconomic variables for 2017-18, as detailed in the medium-term fiscal road map last year. This, in turn, will impact the government’s ability to meet the 2018-19 targets as well.

 

First, economic growth has dipped in the current financial year. It is unlikely to pick up sharply in FY19, as the economy struggles to deal with the twin shocks of demonetisation and the goods and services tax (GST). READ MORE

8:49 AM

Crude prices rise

 

Crude oil prices jumped on Wednesday and settled near three-year highs after US government data showed a drop in crude inventories and production, though the fall in the latter could be the result of extreme cold temperatures across the United States.

 

US West Texas Intermediate (WTI) crude futures traded at $63.47 per barrel, after hitting a high of $63.67 in the previous session, their loftiest level since December 2014.

8:43 AM

Asian shares step back from New Year rally

 

The New Year rally in Asian shares ran out of steam on Thursday as concerns about the US administration’s protectionist stance hit Wall Street while US bonds were dented by speculation China may curtail buying.

 

MSCI’s broadest index of Asia-Pacific shares outside Japan shed 0.1% in early trade, slipping further from Tuesday’s 10-year peak. Japan’s Nikkei lost 0.6%.

8:37 AM

US Markets end lower

 

The three major US stock indexes ended lower on Wednesday after a choppy trading session as investors worried that China would slow US government bond purchases and that U.S. President Donald Trump would end a key trade agreement.

 

The Dow Jones Industrial Average fell 16.67 points, or 0.07%, to 25,369.13, the S&P 500 lost 3.06 points, or 0.11%, to 2,748.23 and the Nasdaq Composite dropped 10.01 points, or 0.14%, to 7,153.57.

8:28 AM

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