Sensex ends 116 pts higher, Nifty settles above 10,150; Airtel up 5%

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8:47 AM

NIA's Rs 10,000-cr IPO to hit market in first week of November

 

New India Assurance (NIA), the largest general insurance company in the country, is set to hit the capital markets with around Rs 10,000 crore IPO in the first week of November.

 

The offer comes soon after the Rs 11,370 crore IPO of GIC Re, which will be listed on October 25. It has already been oversubscribed by over 1.35 times. READ MORE

8:46 AM

Over 10 companies to announce Q2 nos today

 

Hindustan Zinc, Wendt, Havells India, Indiabulls Housing Finance, Oriental Hotels, Graphite India, NOCIL, Zuari Global, Tinplate and Zuari are some of the companies that will announce their quarterly numbers today. 

8:44 AM

New listings absorb a tenth of mutual fund flows this year

 

One out of every Rs 10 invested by equity mutual funds this year has gone into companies that have launched their initial public offerings (IPO) in 2017.  In the first nine months of calendar year 2017, fund managers have made a net investment of Rs 89,000 crore, of which Rs 11,300 crore were in newly listed companies.  

While a large portion of the investment has been made at the IPO stage, fund managers have also added more shares to their portfolios after the listing. READ MORE

8:43 AM

GST rate structure needs rejig, says Hasmukh Adhia

 

Some rejig in the rate structure of the goods and services tax (GST) is required to reduce the burden on small and medium businesses, Revenue Secretary Hasmukh Adhia has said.

 

The GST, which amalgamates more than a dozen central and state levies like excise duty, service tax and value-added tax (VAT), will take about a year to stabilise, he told PTI.

8:40 AM

SGX Nifty

 

The Nifty futures on the Singaporean stock exchange were trading higher by around 17 points at 10185 indicating a flat start for the domestic indices 

8:38 AM

Japan shares at two-decade high

Japanese shares jumped on a weaker yen on Monday as an election win for Shinzo Abe’s ruling bloc gave a green light for more super-easy policy stimulus, while the euro eased as Spain’s constitutional crisis aggravated concerns about political unity in the region.

Nikkei raced up 1% to its highest since 1996 after Prime Minister Abe looked to have easily won in national elections over the weekend.

8:37 AM

Wall Street hits record highs

 

US stocks hit record closing highs on Friday and the S&P 500 posted a sixth week of gains after the US Senate passed a budget resolution, lifting hopes that President Donald Trump’s tax-cut plan may move forward.

 

The Dow Jones Industrial Average rose 165.59 points, or 0.71%, to end at 23,328.63, the S&P 500 gained 13.11 points, or 0.51%, to 2,575.21 and the Nasdaq Composite added 23.99 points, or 0.36%, to 6,629.05.

8:31 AM

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