Nifty fails to settle above 10,400 as BJP's tally in Gujarat narrows

All that happened in today's trade

10:29 AM

Bitcoin-inspired illicit investment schemes to face regulatory axe 

 

Market watchdog Sebi will come down heavily on illicit 'initial coin offers' seeking public investments with promise of high returns from Bitcoins and other virtual currencies, amid a mushrooming of such schemes in the absence of any regulatory regime.

 

However, Sebi is not keen to take on the mantle of a regulator for such 'trading' -- currently being offered on a number of so-called exchanges despite there being no rules in this regard -- as the underlying product, which is Bitcoin or any such crypto currency, is not an approved product by RBI or any other agency, top officials said. READ FULL REPORT

10:22 AM

EDELWEISS ON MARKETS

 

Nifty valuations show room for further market rally. We expect Nifty EPS of FY18/19/20 to be 500/600/720 and expect it to scale 12,000 in FY19.

10:20 AM

New Listing: Future Supply Chain Solutions makes quiet debut

 

Future Supply Chain Solutions, the logistics arm of the Kishore Biyani-led Future Group, has made a quiet debut on the bourses by listing at Rs 674, a 1.5% premium against its issue price of Rs 664 per share on the BSE. On the National Stock Exchange (NSE), the stock listed at Rs 664, at par against its issue price.

 

At 10:02 am; the stock was trading at Rs 684, a 3% higher against its issue price. It hit a high of Rs 695 and a low of Rs 660 on the BSE in intra-day trade so far. A combined 1.37 million shares changed hands on the NSE and BSE READ MORE HERE

10:19 AM

Nirmal Bang on S Chand & Company

 

S Chand is also looking out for inorganic growth mainly in western and southern India. We expect margins to remain stable. ROCE stands at around 15.4% in FY17 which is low on account of acquisitions, and investment in digital, excluding digital investment ROCE stands at 17.2%. S Chand is likely to do EBITDA of Rs 237.8cr and EPS of Rs 35.1 in FY19E and is trading at EV/Ebitda of 7.3x and PE of 13.9x FY19E EPS. We recommend a BUY on SChand with a target price of Rs 632, based on 18x FY19E EPS (29% return)

10:13 AM

Sensex heatmap in late morning deals 

Source: BSE

10:02 AM

India VIX down 6% 

Source: NSE

10:01 AM

Mid, Smallcap indices fall over 2%; Adani group stocks hit

 

Shares of midcap and smallcap companies were under pressure on Monday, falling more than 2% each as market awaits Gujarat and Himachal poll verdict.

 

The S&P BSE Smallcap index tanked 2.7%, or 501 points, at 17,670, while the S&P BSE Midcap index falls 2.2% or 370 points at 16,605 in intra-day trade. The S&P BSE Sensex, too, lost 2.6% or 867 points at 32,595. Both indices, however, recovered as trade progressed. READ FULL REPORT

9:52 AM

Gujarat result LIVE: BJP ahead in 96 seats, Congress in 82

 

The ruling BJP is leading in over 12 seats while its prime rival Congress was ahead on eight seats, as early trends of Assembly polls started pouring in from across Gujarat.

 

As per the trends available in the first 45 minutes of counting, the BJP is ahead on 12 seats, while the Congress candidates have a slight edge over their BJP opponents in eight constituencies.

9:40 AM

Markets check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,271.26	-191.71	-0.57
S&P BSE SENSEX 50	10,726.47	-57.98	-0.54
S&P BSE SENSEX Next 50	35,276.47	-192.00	-0.54
S&P BSE 100	10,739.07	-58.43	-0.54
S&P BSE Bharat 22 Index	3,687.51	-21.39	-0.58

Source: BSE

9:39 AM

Nifty Bank recovers from day's lows

Source: NSE

9:27 AM

Sensex heatmap at open 

Source: BSE

9:24 AM

Bank Nifty cracks over 2%

Source: NSE

9:21 AM

Markets at open 

 

Sensex cracked over 800 points to slip below 33,000, while the broader Nifty50 dipped below 10,150 level.

 

At 9:20 am, the S&P BSE Sensex was trading at 32,885, down 576 points, while the broader Nifty50 was ruling at 10,152, down 181 points. 

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	32,809.94	-653.03	-1.95
S&P BSE SENSEX 50	10,570.33	-214.12	-1.99
S&P BSE SENSEX Next 50	34,692.65	-775.82	-2.19
S&P BSE 100	10,579.89	-217.61	-2.02
S&P BSE Bharat 22 Index	3,631.04	-77.86	-2.10

Source: BSE

9:06 AM

SGX Nifty turns negative

 

Trimming all early gains, the SGX Nifty turned negative with the index ruling at 10,346, down 16 points or 0.15%. 

9:04 AM

Pre-open trade

 

At 9:03 am, the S&P BSE Sensex was trading at 33,576, up 113 points, while the broader Nifty50 was ruling at 10,363, up 30 points.