Nifty ends above 10,300, up 2% for week, Sensex gains 216 pts; metals shine

All that happened in the market today

11:12 AM

ANALYSIS: Near-term pressure for Tata Communications' data business

The monetisation of Tata Communications' surplus land is finally taking off, after the board of directors approved its transfer to a separate company, Hemisphere Properties. Minority shareholders will get a share in the new entity for every one held in Tata Communications (Tata Comm) CLICK HERE FOR MORE

11:10 AM

Cong to take on Modi over charges against Manmohan as Winter Session begins GET ALL DETAILS HERE

Parliament

11:01 AM

HDFC Bank hits new high on fund raising plans

 

HDFC Bank hit a new high of Rs 1,887, up 2.7% on the BSE, after the private sector lender announced that its board will meet on Wednesday, December 20, 2017 to consider a proposal for raising of funds.

 

The stock surpassed its previous high of Rs 1,876.95 touched on October 24, 2017 in intra-day trade.

 

A meeting of the board of directors of the Bank will be held on 20th December, 2017 to inter alia consider a proposal for raising of funds by issue of equity shares/ depository receipts and other securities including through Qualified Institutions Placement (QIP)/ American Depository Receipts (ADRs) program, preferential allotment or such other methods or combinations as may be decided, as well as a preferential issue to Housing Development Finance Corporation (HDFC), the promoter of the bank, HDFC Bank said in a regulatory filing. READ MORE

10:43 AM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,550.84	+304.14	+0.91
S&P BSE SENSEX 50	10,797.94	+98.91	+0.92
S&P BSE SENSEX Next 50	35,454.04	+323.35	+0.92
S&P BSE 100	10,808.11	+98.93	+0.92
S&P BSE Bharat 22 Index	3,718.81	+31.68	+0.86

10:28 AM

Shalby makes weak debut, lists below issue price

 

Shalby, a multi-specialty hospital chain, has made a weak debut on the bourses by listing at Rs 237, a 4.4% below its issue price of Rs 248 per share on the BSE. On the National Stock Exchange (NSE), it opened 3% lower at Rs 240 in otherwise strong market. .READ MORE

10:15 AM

Adani Group stocks gain as exit polls predict BJP victory in Gujarat

 

Shares of all four listed companies of Adani Group rallied by up to 5% in early morning trade after the exit polls predict the Bharatiya Janata Party (BJP) victory in Gujarat.

 

Adani Enterprises, the flagship company of the Gujarat based Adani Group, was the largest gainer, up 5% to Rs 155 on the BSE in intra-day trade so far.

 

Adani Transmission,too, was up 5% at Rs 202, followed by Adani Power (4% at Rs 35.70) and Adani Ports and Special Economic Zone (up 3% at Rs 407).  READ MORE

10:00 AM

HDFC invokes nearly 82 mn pledged Unitech shares

 

HDFC has sold 1.29 crore shares of Unitech in the open market and invoked nearly 82 million pledged shares of the crisis-hit realty firm.

 

HDFC Ltd has sold 1,29,19,566 shares carrying voting rights worth 0.49 per cent stake, and invoked 8,19,88,820 pledged shares worth 3.13 per cent stake, according to a regulatory filing.

 

Promoters hold 17.92 per cent stake in Unitech, of which 73 per cent is pledged, as per the shareholding pattern at the end of the second quarter of this fiscal. READ MORE

9:42 AM

Next year will be positive for equities, says Credit Suisse

 

Credit Suisse expects the Indian market to deliver positive returns in 2018; but, it has abstained from setting any targets for the Sensex or Nifty. The brokerage is forecasting low-teen growth in earnings for the next fiscal year (FY19), lower than the consensus estimate of 22 per cent. The markets, therefore, could deliver low-teen returns too, if valuations have to stay at current levels, said Neelkanth Mishra, managing director and India equity strategist at Credit Suisse.

 

Mishra said while the price-to-earnings (P/E) multiple is higher compared to historical averages, it is not expensive compared to global equities.  The June quarter earnings results have turned out to be one of the best in three years, with aggregate earnings seeing no cuts, he said. READ MORE

9:30 AM

Banks gain

Source: NSE

9:25 AM

Sectoral Trend

Source: NSE

9:21 AM

Top Sensex gainers and losers

Source: BSE

9:18 AM

Broader Markets

In broader markets, both BSE midcap and BSE smallcap indices gained 1% each

9:17 AM

Markets Open

Benchmark indices gaiined ground on Friday as investors cheer after the exit polls that released their survey results at the end of the final phase of polling in Gujarat on Thursday evening predicted that the Bharatiya Janata Party (BJP) was set to retain Gujarat and wrest Himachal Pradesh from the Congress.

At 9:17 am, the S&P BSE Sensex was trading at 33,538, up 293 points while the broader Nifty50 index was ruling at 10,342, up 90 points

9:13 AM

Singapore to start futures trading in Indian stocks

 

In what could be a major blow to the domestic derivatives market, the Singapore Stock Exchange (SGX) will soon launch trading in Indian single-stock futures on its platform. The Singapore bourse currently offers trading in Nifty index contracts, which are very popular among overseas investors.

 

The launch of single-stock futures could lead to further expansion of domestic financial markets, experts say.

 

According to sources, the National Stock Exchange (NSE) has expressed its concerns over the move; but, SGX has decided to go ahead with its plan. READ MORE

9:07 AM

Today's picks: 15 December, 2017

 

HPCL  

Current price: Rs 437

Target price: Rs 445

Keep a stop at Rs 432 and go long. Add to the position between Rs 442 and Rs 443. Book profits at Rs 445. 

 

TCS  

Current price: Rs 2,557

Target price: Rs 2,515

Keep a stop at Rs 2,580 and go short. Add to the position between Rs 25,20 and Rs 2,530. Book profits at Rs 2,515. 

 

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