Markets end volatile day flat, Nifty dips below 10150 ahead of RBI policy

All that happened in today's trade

4:19 PM

Jayant Manglik, President Retail Sales, Religare Securities

 

In another volatile trade, the benchmark indices hovered in a narrow range ahead of the RBI policy meet. However, the broader market indices saw selling pressure on account of profit taking, as investors remained cautious on the outcome of the monetary policy. FMCG, auto and banking indices were among the losing indices. IT index gained the most led by surge in Infosys after appointment of new CEO in the company.

 

The next two days would be important as RBI will announce its policy decision on December 06. We expect RBI to maintain status quo citing incoming data dependency over the next few months, as a firm inflation trajectory limits the room for further monetary easing for now. We advise traders to hedge their positions until RBI policy decision.

3:49 PM

Broader markets underperform

 

The BSE Smallcap index shed 0.5%, while the BSE Midcap index remained little changed. 

3:45 PM

Sensex heatmap at close

Source: BSE

3:42 PM

Markets at close

The S&P BSE Sensex ended at 32,869, up 36 points, while the broader Nifty50 settled at 10,127, up 6 points. 

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	32,869.72	+36.78	+0.11
S&P BSE SENSEX 50	10,573.73	+10.96	+0.10
S&P BSE SENSEX Next 50	35,033.32	-64.80	-0.18
S&P BSE 100	10,599.23	+6.01	+0.06
S&P BSE Bharat 22 Index	3,675.25	-2.18	-0.06

Source: BSE

3:21 PM

63 Moons hits lower circuit 

 

63 Moons Technologies (formerly Financial Technologies) was locked in lower circuit of 5% at Rs 131, down 7% from intra-day high on the BSE, after the company said the Hon'ble Bombay High Court has dismissed its writ petition on the National Spot Exchange Limited (NSEL) merger.

 

A combined 462,581 shares changed hands and there were pending sell orders for 1.1 million shares on the NSE and BSE till 02:58 PM. READ FULL REPORT

3:06 PM

Markets check

At 3:05 pm, the S&P BSE Sensex was trading at 32,866, up 34 points, while the broader Nifty50 was ruling at 10,125, up 54 points. 

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	32,867.53	+34.59	+0.11
S&P BSE SENSEX 50	10,571.81	+9.04	+0.09
S&P BSE SENSEX Next 50	34,978.60	-119.52	-0.34
S&P BSE 100	10,594.95	+1.73	+0.02
S&P BSE Bharat 22 Index	3,673.37	-4.06	-0.11

Source: BSE

2:51 PM

Auto ancillary shares in focus

 

Shares of auto ancillary companies, mainly mid and small-sized firms, were in focus and traded higher by up to 15% on the back of positive corporate announcements.

 

Setco Automotive hit a 52-week high of Rs 48.40, up 15% on the BSE in intra-day trade on back of heavy volumes. The company reported nearly 14-fold jump in its standalone net profit of Rs 13.76 crore in September quarter (Q2FY18), on back of healthy operational performance. It had profit of around Rs 1 crore in the same quarter last year and a net loss of Rs 11.89 crore in June 2017 quarter. READ MORE

2:41 PM

KNR Constructions, Sadbhav Engineering among road infra space's top picks

 

The infrastructure sector remains in a sweet spot looking at the government's focus on ramping up execution, increasing project awards, and construction activities, especially in the road segment. The end-October announcement on the Bharatmala programme has set the ball rolling further now. Analysts at Motilal Oswal Securities (MOSL) say that for the past three years, the government has been ironing out issues hampering the road sector. It has cleared bottlenecks through suitable policy changes and early signs of revival in the sector have been evident for some time now. Players with strong balance sheets, execution track record, and robust asset portfolio would be the key beneficiaries. READ MORE

2:29 PM

Interview of the Day

 

After a sharp run-up in the mid-cap and small-cap stocks thus far in 2017, Hong Kong-based Mark Matthews, head of research for Asia, Julius Baer Group, tells Business Standrad he would steer clear of these two segments for now.

 

READ FULL INTERVIEW

Mark Matthews, Head of Research for Asia, Julius Baer Group

2:02 PM

Axis Securities on Tata Motors

 

CV volume/ pricing outlook: Management indicated infra push and recovery in economy shall drive MHCV volumes for FY18 and beyond. Its SCR technology has been well accepted and should drive market share gains.

 

We shift focus to volume growth given a strong model cycle – Velar ramp-up, mid-cycle refresh RR/RR Sport (with plug in hybrid variants), and E-Pace over next 12-15 months.

 

Hedging losses: Based on its hedge book, there is an additional GBP 1.1 bn worth of realized losses in the balance sheet (assuming currency stays where it is), of which GBP 800 mn would be realized over the next 12 months. The management expects hedging losses to start coming down from Q4FY18.

 

Target EBIT margin: The company plans to maintain EBIT margin in the range of 8-10% (5% this quarter), as positive operating leverage and lower realized forex losses improve the margin.

 

We maintain a BUY with a target of Rs 443.

1:50 PM

Infosys rally to be short-lived 

Infosys rallied 3% to Rs 988 levels on the Bombay Stock Exchange (BSE) in intra-day trade on Monday, after the its board appointed Salil S. Parekh as its chief executive officer and managing director (CEO & MD) for a period of five years effective January 2, 2018.

 

While markets gave a thumbs-up to the development, analysts say Infosys still has a long road to recovery. Parekh, they say, has his task cut out in terms of turning around the business at a time when the information technology (IT) sector is undergoing a transformation. That said, the appointment does end the market’s anxiety as to who the new CEO, but the strategies he adopts will take time to reflect on the financials, they say. READ FULL REPORT

1:12 PM

Sensex heatmap in noon trade

Source: BSE

12:51 PM

Tata Motors picks momentum on strong sales in Nov

 

Tata Motors gained nearly 2% on BSE after the company reported strong sales in November.

 

Tata Motors said that its commercial and passenger vehicles sales in domestic market grew by 58% to 52,464 units in November 2017 over November 2016, due to growing demand across segments, introduction of new products and strong customer initiatives. READ MORE

12:22 PM

Buzzing stock

 

Jubilant Life Sciences was up 5% to Rs 729 on the BSE in early noon deals after media report suggested that the company’s pesticide project in Gujarat got the green panel nod.

 

The stock of an integrated global pharmaceutical and life sciences company has rallied 14% in past three trading sessions. READ MORE

12:06 PM

Markets check

At 12:00 pm, the S&P BSE Sensex was trading at 32,924, up 92 points, while the broader Nifty50 was ruling at 10,148, up 27 points. 

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	32,928.03	+95.09	+0.29
S&P BSE SENSEX 50	10,592.91	+30.14	+0.29
S&P BSE SENSEX Next 50	35,041.26	-56.86	-0.16
S&P BSE 100	10,615.72	+22.50	+0.21
S&P BSE Bharat 22 Index	3,680.83	+3.40	+0.09

Source: BSE