Markets end flat; Sensex hits fresh closing high, Nifty closes at 10,451

All that happened in today's trade

3:45 PM

Anand James, Chief Market Strategist, Geojit Financial Services 

 

Simmering geopolitical tensions in the Korean peninsula kept investors on the backfoot, but expectations of more tax reliefs kept stocks buoyant. Auto and PSU bank sector found traction, but a rise in VIX over 8% indicates that the record peaks, and the deluge of IPOs have had investors in two minds.

3:42 PM

Sensex heatmap at close

Source: BSE

3:41 PM

Markets at close

 

The S&P BSE Sensex logged its fresh closing high of 33,731, up 45 points, while the broader Nifty50 ended at 10,451, down 0.7 point.

3:39 PM

Markets at close

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,731.19	+45.63	+0.14
S&P BSE SENSEX 50	10,884.79	+20.92	+0.19
S&P BSE SENSEX Next 50	36,231.39	-33.57	-0.09
S&P BSE 100	10,919.28	+15.90	+0.15
S&P BSE Bharat 22 Index	3,819.88	-8.43	-0.22

3:23 PM

European markets

 

European markets edged lower on Monday after a strong run, with declines in Asia weighing as some earnings disappointments also took the shine off early deals.

 

The pan-European STOXX 600 was down 0.1% with Dutch firms SBM Offshore and Vopak falling sharply after badly received results. Euro zone stocks and blue chips were down 0.3% and 0.4%, respectively.

3:17 PM

Paradise Papers: Jindal Steel, Videocon take a hit

 

Shares of various firms, led by Jindal Steel, today fell by up to 2.3 per cent amid reports that their names have cropped up in the leaked list of 'Paradise Papers' of companies.

 

The scrip of Jindal Steel & Power went down by 2.32 per cent, Essar Shipping lost 2 per cent and Videocon Industries fell by 1.82 per cent on BSE. READ FULL REPORT

3:12 PM

Buzzing stock

 

Union Bank of India rose as much as 6% despite posting a surprise second-quarter loss last week, as investors welcomed improvements in asset quality trends.

3:01 PM

Markets check

 

At 3:00 pm, the S&P BSE Sensex was trading at 33,810, up 124 points, while the broader Nifty50 was ruling at 10,477, up 24 points.

2:56 PM

Prabhudas Lilladher on Titan Company

 

We are upgrading Titan from Accumulate to BUY as we increase FY18 and FY19 EPS estimates by 20‐25%. This follows 68.5% PAT growth in 2Q18 led by 1) 49% grammage growth in jewellery 2) 260bps jewellery margin expansion 3) smart margin recovery in watches despite absorbing higher GST and 2% additional dealer discounts 4) market share gain in Jewellery and 100 bps share gain in watches in LFS. We believe Tanishq is in a sweet spot led by 1) discounts on purchase above 75gms in wedding jewellery 2) discount on purchase exceeding Rs 200,000 in studded jewellery 3) activation campaign on recycling of old jewellery and 4) lower premium on gold prices which are reducing price gap with the competitionand 5) steady network expansion and brand building.  

 

We estimate 29.5% PAT CAGR over FY17‐FY20. We value the stock at 40xSept19 EPS and arrive at a target price of Rs759 (Rs580 based on 40xSept19 EPS earlier). Higher than expected margin expansion in both jewellery and watches can provide upside risk to our estimates. We expect premium valuations to sustain given strong tailwinds in jewellery business, strong balance sheet and steady improvement in other businesses. Upgrade to Buy.

2:32 PM

Oil hits $63 a bbl, highest since 2015 

 

Oil prices hit their highest levels since July 2015 early on Monday as markets tightened, while Saudi Arabia's crown prince cemented his power over the weekend through an anti-corruption crackdown that included high-profile arrests. READ FULL REPORT

2:07 PM

Buzzing stock

Vakrangee moved higher by 6% to Rs 559 on the BSE in noon deal after the company said that its board will meet on November 13, 2017 to consider issue of bonus shares. The stock is trading close to its record high of Rs 566 touched on November 1, 2017 on the BSE in intra-day trade. READ MORE

1:49 PM

Capacit'e Infraprojects gets stronger 

 

Capacit'e Infraprojects gained nearly 5% to Rs 385 on BSE after the company announced that it has bagged a contract worth Rs 825.01 crore from Arihant Abode, a subsidiary of Arihant Superstructures.

 

The company said that the contract is for affordable housing project christened “Arihant Aspire” at Panvel, Maharashtra, in proximity to the proposed Navi Mumbai international airport.

 

1:29 PM

One year of demonetisation: A review by Madan Sabnavis 

 

Demonetisation was an attempt to address issues like black money, terror funding and counterfeit currency. Somewhere along the way, the goal post changed to digitising the economy to leave a better audit trail. Even as it caused a lot of physical inconvenience to the public, which can be the cost of such a bold programme, the economic impact is still uncertain. READ FULL VIEW

1:12 PM

Top Sensex gainers and losers

Source: BSE

12:55 PM

Infibeam Incorporation extends rally; stock zooms 54% in four days

 

Infibeam Incorporation hits a new high of Rs 196, up 17% on the BSE, extending its over 30% rally of the last three trading sessions on the back of heavy volumes.

 

In the last four trading days, the stock outperformed the market by surging 54% from Rs 127 on October 31, 2017, as compared to 1.4% rise in the S&P BSE Sensex. A combined 19.84 million shares have already changed hands on the counter till 12:00 PM; against its two-week average of sub-12 million shares on the BSE and NSE.