Sensex down 67 points, Nifty ends above 10,100 ahead of RBI policy outcome

All that happened in today's trade

12:16 PM

Balaji Amines advances after project gets mega project status from govt

 

Balaji Amines rose 1.34% to Rs 641.05 at 9:25 IST on BSE after the company said that the Department of Industries, Energy and Labour, Mantralya, Mumbai has conferred mega project status to its expansion project.

 

The announcement was made after market hours yesterday, 4 December 2017. The stock had jumped 6.27% to Rs 632.60 yesterday, 4 December 2017, ahead of the announcement. READ MORE

11:58 AM

Sectoral Trend

Source: NSE

11:45 AM

Services PMI down in Nov as GST subdues domestic, foreign demand

 

Activity in India's dominant services industry shrank in November as rising prices, driven up in part by the new national sales tax, took a toll on both foreign and domestic demand, a business survey showed on Tuesday.

 

November's Nikkei/IHS Markit Services Purchasing Managers' Index fell to 48.5 - its lowest since August - from 51.7 in October, well below the 50 mark that separates expansion from contraction.

 

After initial confusion among firms over the pricing of their products, firms are now better adjusted to the Goods and Services Tax (GST) and are gradually passing higher input costs to end-consumers. READ MORE

11:30 AM

Top Sensex gainers and losers

Source: BSE

11:16 AM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	32,773.42	-96.30	-0.29
S&P BSE SENSEX 50	10,538.84	-34.89	-0.33
S&P BSE SENSEX Next 50	34,944.62	-88.70	-0.25
S&P BSE 100	10,565.58	-33.65	-0.32
S&P BSE Bharat 22 Index	3,645.72	-29.53	-0.80

10:56 AM

RBI builds $31-bn forwards position as dollar tide rises

 

The Reserve Bank of India (RBI) has built up a $31-billion position in rupee-dollar forwards as a continuous foreign fund inflow has necessitated active intervention by the central bank in the spot market.

 

Forwards contracts are designed to buy foreign currencies at pre-agreed prices. A buyer has to pay a fee, the forward premium, for the right to buy at that price.

 

Economists and currency dealers said the RBI action could also be a form of insurance against an outflow of dollars as central banks around the world had begun normalising their easy money policies. In August and September, the markets witnessed outflows from the equity markets, highlighting the need to remain cautious on funds flow. READ MORE

10:45 AM

Shalby IPO kicks off today; should you subscribe?

 

Shalby, an operator of multi-specialty hospitals chain kicked off its initial public offering (IPO) on Tuesday in a price band of Rs 245-248 per share to raise Rs 504 crore. The issue will close on Thursday. 

 

The offer comprises a fresh issue of equity shares aggregating up to Rs 480 crore and an offer for sale of up to 10,00,000 equity shares by the promoter Vikram Shah Burman, which at the upper end of the price band will fetch Rs 24.8 crore.

 

Click here to find what brokerages recommend on the issue

10:30 AM

Top Sectoral Loser: Nifty Metal

Source: NSE

10:22 AM

Shree Pushkar gains on capacity expansion

 

Shree Pushkar Chemicals & Fertilisers was up 2.84% to Rs 278.90 on BSE after the company said an additional dye capacity of 3,000 MTA has been added to its plant.

10:17 AM

Only sectoral index in green: Nifty IT

Source: NSE

10:07 AM

Avoid timing the market with lump-sum investments

 

IDFC Mutual Fund is the latest fund house to join the ranks of those which have restricted heavy lump-sum investments in their funds. It has limited lump-sum investment in IDFC Focused Equity Fund to Rs 2 lakh a day. 

 

Similar restrictions have been imposed in the recent past in other funds: DSP BlackRock Micro Cap, Edelweiss Tax Advantage, L&T Emerging Businesses, and SBI Small and Midcap Fund. Investors should heed the message in these measures being taken by fund houses and avoid lump-sum investments at a time when valuations are high.  READ MORE

10:01 AM

Ruias want to pay up, bid for Essar Steel

 

The Essar Group is planning to pay its dues to lenders so that it can take part in the bidding process for its steel plant in Hazira, Gujarat. Tata Steel, ArcelorMittal and others are reportedly keen to acquire it.  

 

The group has sought clarification from lenders on the overdue interest so that it can pay it and submit its bid by December-end, said a lender.  Essar Steel is among the 12 companies that were sent to the National Company Law Tribunal (NCLT) by the RBI for resolution under the Insolvency and Bankruptcy Code (IBC). READ MORE

9:44 AM

NSE may refile IPO papers after getting clarity on algo-trading case

 

Leading bourse National Stock Exchange (NSE) may have to file fresh draft papers with markets regulator Sebi to float an initial public offering after getting clarity on the co-location matter.

 

However, the current preliminary IPO papers, which were filed with Sebi in December last year, will remain open, the exchange said.

 

The IPO is expected to be one of the biggest in recent times, with an estimated size of over Rs 10,000 crore, merchant banking sources said. READ MORE

9:31 AM

Bitcoin bigger than Buffett, Boeing, New Zealand's economy

Bitcoin’s extraordinary price surge means its market capitalisation now exceeds the annual output of whole economies, and the estimated worth of some of the world’s top billionaires.

 

With debate over its bubble status still raging, the flagship cryptocurrency continued its march higher on Monday, solidifying above $11,000 and bringing its climb this year to more than 1,000 per cent. With market tracker Coinmarketcap.com putting the total value of all bitcoins in circulation at $190 billion, it’s come a long way from August, when one coin could buy you a hefty supply of avocados.

 

Click here for five things that have been eclipsed by bitcoin in terms of market capitalisation:

9:24 AM

Sectoral Trend

Source: NSE