Sensex, Nifty end marginally higher; PSBs gain on bankruptcy code amendment

All that happened in the market today

1:07 PM

Indian crude breaches $60 a barrel; are excise cuts coming?

 

With crude oil going above $60 a barrel and the Organisation of the Petroleum Exporting Countries (OPEC) expected to extend ouput cuts later this month, the Indian government faces a difficult decision to renew the excise reduction on transport fuels in this election season. READ FULL REPORT

12:54 PM

Bitcoin has unusual relationship with volatility

 

Cryptoassets are showing the signs of a bubble. Market capitalisation is $222 billion, 16 times as much as a year ago, with no significant change in tangible economic value. The virtual currencies elicit investment excitement and breathless news coverage; sober analysis treating both technical issues and economic fundamentals is rarer. READ MORE

12:25 PM

Buzzing stock 

 

Shares of the Bangalore-based professional service provider TeamLease Services rose as much as 16%, the most since November 8, to record high of Rs 2,190 after T. Rowe Price International Small Cap Equity Trust bought stake in the company on Tuesday.

12:05 PM

Markets check

 

At 12:00 pm, the S&P BSE Sensex was trading at 33,565, up 87 points, while the broader Nifty50 was ruling at 10,344, up 18 points.

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,554.13	+75.78	+0.23
S&P BSE SENSEX 50	10,781.29	+16.06	+0.15
S&P BSE SENSEX Next 50	35,623.73	-84.43	-0.24
S&P BSE 100	10,802.46	+9.28	+0.09
S&P BSE Bharat 22 Index	3,740.96	+2.55	+0.07

Source: BSE

11:44 AM

Top five gainers on Nifty

Source: NSE

11:31 AM

IPO: National Insurance to learn from others' setbacks

 

After seeing the tepid response to the initial public offers (IPOs) of equity from its two bigger peers, National Insurance plans to review its own strategy in this regard.   The IPOs of New India Assurance (NIA) and General Insurance Corporation (GIC), both  government-owned like National Insurance, failed to enthuse small investors.

 

National Insurance is planning its own IPO in March-April 2018. READ MORE

11:15 AM

Maruti Suzuki, Bajaj Auto hit new highs

 

Shares of two automobile companies – Bajaj Auto (Rs 3,344) and Maruti Suzuki India (Rs 8,487) - have hit their respective new highs on the BSE in intra-day trade on Wednesday in otherwise subdued market.

 

At 10:59 AM; both these stocks were trading higher by 1% as compared to a marginal 0.13% rise in the S&P BSE Sensex. In past three months, Bajaj Auto (up 22%) and Maruti Suzuki India (13%) has outperformed the Sensex, which gained 7% during the period. READ MORE DETAILS

10:55 AM

Markets check

 

At 10:55 am, the S&P BSE Sensex was trading at 33,531, up 53 points, while the broader Nifty50 was ruling at 10,332, up 5 points.

10:30 AM

Leather, footwear stocks in focus

 

Shares of leather and footwear companies were in focus, ralliying by up to 9% on the BSE in early morning trade on hopes of incentive package from the government.

 

Superhouse, Relaxo Footwear, Mirza International, Mayur Leather, Liberty Shoes, Bata India, and Khadim India were up in the range of 2% to 9% on the BSE. On comparison, the S&P BSE Sensex was up 0.30% at 33,578 points at 09:39 AM. READ MORE

10:15 AM

Earnings growth worries

 

The July-September 2017 earnings of India Inc were muted as companies struggled to adjust to the goods and services tax that rolled out on July 1. While revenue growth was the second best in three years, profitability proved to be a major concern. The combined net profit for 1,852 companies declined by 2.6 per cent, year-on-year (YoY), even as revenue grew by 8.7 per cent. READ FULL ANALYSIS

10:01 AM

NCC hits 52-week high

 

NCC hit 52-week high of Rs 115, up 6% on the BSE in early morning trade on back of heavy volumes after the company said consortium formed by it and BGR Infra has bagged coal mine project from NTPC to develop and operate around Rs 25,071 crore coal block in Chhattisgarh. READ MORE

9:47 AM

Sectoral trend 

Source: NSE

9:32 AM

How Moody's rating upgrade is boosting confidence in Indian bond markets

 

India's sovereign rating upgrade by Moody's is a shot in the arm for Indian companies looking to raise funds in offshore bond markets.

 

Driven by more attractive rates and relatively strong economic fundamentals among emerging markets, offshore dollar borrowing by Indian companies has already risen 32 per cent from the start of 2017 to $8.81 billion, according to Reuters data. CLICK HERE FOR MORE

9:25 AM

Sectoral trend

Nifty Pharma, the biggest sectoral gainer in the previous session, opened in red, led by losses in Dr Reddy's and Sun Pharma.

Source: NSE

9:22 AM

Sensex heatmap at open

Source: BSE