Nifty ends above 10,300; SBI up 6% post Q2; GST council cuts rates

All that happened in today's trade

9:22 AM

Top Sensex gainers and losers

Source: BSE

9:18 AM

Markets open

Benchmark indices opens flat on Friday following Asian Markets which slipped on uncertainty about US tax reforms.

At 9:17 am, the S&P BSE Sensex was trading at 33,235, down 15 points while the broader Nifty50 index was ruling at  10,287, down 21 points

9:13 AM

Few trading ideas by Prabhudas Lilladher:

 

BUY PIDILITE INDUSTRIES   

CMP: Rs 812.75      

TARGET: Rs 880    

STOP LOSS: Rs 760

 

BUY ASIAN PAINTS    

CMP: Rs 1195.60      

TARGET: Rs 1270    

STOP LOSS: Rs 1140

 

BUY KAJARIA CERAMICS     

CMP: Rs 720.7 5    

TARGET: Rs 790    

STOP LOSS: Rs 680

Click here for rationale

9:09 AM

Nifty outlook by Prabhudas Lilladher

 

Market continues to consolidate at these levels for now with THE Nifty holding the support of 10,250. The support for the day lies at 10,240, while resistance lies at 10,350. Select stocks are in round of momentum and we maintain a cautious view if Nifty breaches the level of 10,200 downside. 

9:05 AM

HDFC Standard Life IPO subscribed 4.89 times

 

HDFC Standard Life Insurance Company's initial public offer (IPO) was subscribed 4.89 times on the closing day of bidding on Thursday. The Rs 8,695-crore IPO, received bids for 1,07,50,87,700 shares against the total issue size of 21,97,59,218 shares, according to NSE data.

9:02 AM

IIP data today

 

There is widespread expectation that the economy would pick up in the second quarter (Q2) of the current financial year (FY2017-18), compared to the previous three months when gross domestic product (GDP) grew 5.7% — the lowest so far in the Narendra Modi government’s tenure. 

 

The Index of Industrial Production (IIP), which accounts for roughly one-fourth of industrial sector data in GDP — the rest constituted by corporate results — presents a case in point till August. The IIP data for September will be released on Friday; it remains a crucial component in measuring GDP — the Q2 numbers for which will be released by this month end.

8:57 AM

GST Council may prune items in 28% slab

 

The GST Council may today consider reducing items in the 28% tax slab and slash rates for daily use items, plastic products and hand-made furniture as it looks to provide relief to consumers.

 

The 23rd meeting of the Council, being held here, will also deliberate on the suggestions made by Assam Finance Minister Himanta Biswa Sarma-headed GoM to cut tax rates for the composition scheme businesses to 1 per cent and lower rates for non-AC restaurants.

 

The Council may today rationalise rates in sectors where the total incidence of taxation has gone up because the goods were either exempt from excise or attracted lower VAT rates under the previous indirect tax regime.

8:54 AM

Oil Price Check

Oil prices held firm, on course to log their fifth straight week of gains, on hopes of supply cuts by major exporters as well as continuing concern about political developments in Saudi Arabia.

8:47 AM

SGX Nifty

 

The Nifty50 futures on the Singapore Stock Exchange were trading 51 points lower at 10326 indicating a negative opening for the domestic market.

8:47 AM

Asia check

Asian shares slipped on Friday on uncertainty about U.S. tax reforms after Senate Republicans unveiled a plan that differed from the House of Representatives’ version in several key areas, including a delay in the timing of a corporate tax cut.

 

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.1% while Japan's Nikkei lost 1.0%.

 

MSCI’s all-country equity index posted its first daily loss in more than two weeks on Thursday, ending its longest daily winning streak since 2003.

8:46 AM

Wall Street slips

Wall Street stocks dropped on Thursday, weighed down by losses in Microsoft and other technology issues. The Dow Jones Industrial Average lost 0.43% to end at 23,461.94, while the S&P 500 declined 0.38% to 2,584.62. The Nasdaq Composite dropped 0.58% to 6,750.05.

8:45 AM

Good Morning!

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