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

All that happened in the market today

9:04 AM

Top trading ideas by Prabhudas Lilladher:

 

BUY MAHINDRA & MAHINDRA      

CMP: Rs 1,431.60        

TARGET: Rs 1,510     

STOP LOSS: Rs 1,380

 

The stock has been moving in an upward trend with a series of higher bottom formation pattern in the daily chart and technically is poised for further gains in the coming days. With the indicators looking favourable thus supporting our view of a positive bias,  we anticipate a price rise in the stock and with decent volume participation witnessed,  we recommend a buy in this stock for an upside target 1510 of keeping a stop loss of 1380

 

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9:00 AM

Nifty outlook by Prabhudas Lilladher

 

Markets witnessed a volatile session to see a dip midway by way of profit booking activity but finally in the last leg of the session saw short covering to close on the positive side. The support for the day is seen at 10180 while resistance is seen at 10320.

8:57 AM

Chart check

 

One should wait for markets to sustain above 10330 in order to take a directional call. On the downside, 10200 – 10140 would be seen as key supports. Traders are advised to keep a close track of these crucial levels and should avoid taking undue risks.

 

(Source: Angel Broking)

8:56 AM

Shalby to list shares today

 

Multi-specialty hospital chain Shalby which recently concluded its Rs 504 crore initial public offering, will list its shares on NSE as well as BSE today. The IPO, which opened for subscription from December 5-7, was subscribed 2.8 times at a price band of Rs 245-248 per share.

8:55 AM

Market outlook for today

 

The market is seen opening higher in the early trade; almost all exit polls predicted more than 100 seats for the BJP in Gujarat where the party has been ensconced in power for close to two decades now. The polls also showed that the party is set to reclaim Himachal Pradesh. As per provisional figures, foreign institutional investors (FIIs)/ Foreign Portfolio Investors (FPIs) bought shares worth net Rs 232.17 crores on 14th December 2017. Domestic institutional investors sold shares worth Rs 374.21 crores on that day.

 

(Source: SMC Global)

8:52 AM

21st Century Fox deal to fast forward Walt Disney's India fortunes

 

Walt Disney Co’s acquisition of Rupert Murdoch’s 21st Century Fox Inc, except for some businesses, on Thursday will fundamentally change India’s TV broadcast landscape. 

 

As part of the deal, the entire business of Star India, including entertainment and sports channels as well as the digital over-the-top channel Hotstar, will be transferred to Disney. Disney will also pick up the 20 per cent stake that Murdoch has in DTH operator Tata Sky. 

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Walt Disney

8:50 AM

Winter session of Parliament 
 

The winter session of Parliament will start today and continue till January 5, with 14 sittings of both Houses during the 21-day session. The proceedings will be keenly watched and market will take cue from the related developments. 

8:50 AM

Outlook for bonds in 2018

 

For bonds, while we saw a year of positive returns in 2017 there is more nuanced outlook for 2018. The performance of government bonds will largely depend on the decisions of central banks, because bond prices fall when interest rates rise. However, HSBC expects interest rates in the US and Europe to increase little next year. 

 

Conversely, corporate bond prices could suffer from rising interest rates, and could be hit as central banks end their bond-buying programmes. The main risk for bonds will be if central banks raise interest rates faster than the markets expect, which could cause bond values to fall, and shift the balance of the global economy to lower long-term levels.

 

(Source: HSBC Global Asset Management)

8:48 AM

Key risks for markets in 2018

 

The key risk to expectations for equities next year centre on the impact of a pick-up in inflation, or if growth remains very strong. In that situation it becomes more likely that central banks around the world, including the Fed, will have to be more aggressive about raising interest rates – though we do not believe this is the most likely scenario.

 

(Source: HSBC Global Asset Management)

8:48 AM

Market outlook for 2018

 

HSBC expects equities to continue performing well in 2018, and for emerging markets to outperform developed markets once again, as valuations for emerging market equities remain more attractive despite the strong rally in 2017. However, HSBC does not believe that developed market equities are overvalued and they still have a place in a globally-diversified portfolio.

 

(Source: HSBC Global Asset Management)

8:46 AM

Supreme Court to give interim order on Aadhaar related cases today

 

The Supreme Court on Thursday reserved its interim order for Friday on a batch of pleas seeking a stay on the government's decision of mandatory linking of Aadhaar with various welfare schemes, as the Centre extended the deadline up to March 31 next year.

 

A five-judge Constitution bench headed by Chief Justice Dipak Misra said the final hearing on the petitions challenging the Aadhaar scheme itself would commence from January 17 next year. READ MORE

8:42 AM

Exit polls predict BJP victory in Gujarat and Himachal Pradesh

 

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.

 

While survey agencies differed in their seat projections, nearly all predicted almost 100 or more seats for the BJP, with the party set to extend its 22-year rule in the state. Survey agencies also said the election, in the last phases, was focused on the leadership of Prime Minister Narendra Modi, and overcame the brewing anti-incumbency against the Vijay Rupani government and dissipated the anger that sections of Gujarati society had felt about specific local issues. READ MORE

8:36 AM

SGX Nifty

 

The Nifty50 futures on the Singapore Stock Exchange were trading 64 points higher at 10352 indicating a positive opening for the domestic market.

8:32 AM

Asian shares edged higher 

Asian shares edged higher on Friday, on track for weekly gains, though sentiment was kept in check by Wall Street’s weakness on concerns about the progress of US tax reform.

 

MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.04% in early trade, poised to gain 1.2% for the week.

 

But Japan's Nikkei stock index slipped 0.8%, down 1.3% for the week, feeling the pinch of a stronger yen even amid fresh signs the economy is gathering momentum.

8:30 AM

US markets fall as investors fret about tax bill passage

 

Major US stock indexes fell on Thursday, with the S&P 500 down the most in a month, as investor worries over potential roadblocks to the Republicans’ tax overhaul more than offset optimism over strong retail sales data.

 

The Dow Jones Industrial Average fell 76.77 points, or 0.31%, to close at 24,508.66, the S&P 500 lost 10.84 points, or 0.41%, to 2,652.01 and the Nasdaq Composite dropped 19.27 points, or 0.28%, to 6,856.53.