Sensex ends over 100 pts lower, Nifty below 10,400; RIL, Infy down 1% each
All that happened in the market today
1:26 PM
Q2 review: Nearly 45% of corporate results are above expectation
The June quarter of the financial year 2017-18 (Q1FY18) was a disaster due to de-stocking measures. However, the September quarter (Q2) was anticipated to be better given the low base and re-stocking activities. We thought that de-stocking was largely over but how much will be the revival is still yet to be known. Economic activities had started to improve and procedure of GST was getting better day by day. READ MORE
12:54 PM
Buzzing stock
Reliance Communications tanked 6.37% to Rs 12.50 at 9:19 IST on BSE after the company issued a clarification on media reports that China development bank is filing insolvency case against the company. READ MORE
12:36 PM
Reliance Securities on JK Lakshmi Cement
JK Lakshmi Cement (JKLC) surged over 4% in Monday’s range-bound market on the expectations of likely improvement in its profitability ahead due to various measures taken by the company.
While the recent ban of petcoke usage is expected to impact JKLC’s operational performance, visible improvement in Eastern realizations and healthy demand in its key markets are likely to nullify the impact to an extent.
Considering the initiatives undertaken to improve Eastern operations profitability by means of WHRS, CPPs, conveyor belt, railway siding and SGU in Orissa are likely to aid JKLC to improve its operational performance further in ensuing quarters.
We maintain our fundamental BUY rating on the stock with a Target Price of Rs 500.
12:28 PM
Dolly Khanna's portfolio
Half of the stocks in Dolly Khanna, the Chennai-based investor’s portfolio, have appreciated by up to 550% thus far in the current calendar year 2017 (CY17).
As of September 2017, Dolly Khanna holds more than 1% stake in 22 companies, as per data filed by these companies’ shows. Of these the market price of 11 stocks rallied more than 100% in CY17.
READ FULL STORY
READ FULL STORY
11:51 AM
PSBs may face Rs 40,000-cr loss due to bad loans
Commercial banks wrote off about Rs 35,000 crore of bad loans in July-September, taking write-offs to Rs 65,800 crore in the first half of the financial year.
Credit costs — the amount set aside for bad loans and stressed assets — for ageing non-performing assets (NPAs) and National Company Law Tribunal cases would take provision coverage ratio to 58-60 per cent by the end of FY18, from 44.3 per cent at the end of March 2017, according to rating agency ICRA. READ FULL REPORT
11:33 AM
Marketc check
At 11:32 am, the S&P BSE Sensex was trading at 33,654, down 69 points, while the broader Nifty50 was ruling at 10,383, down 16 points.
Source: BSE
At 11:32 am, the S&P BSE Sensex was trading at 33,654, down 69 points, while the broader Nifty50 was ruling at 10,383, down 16 points.
Index | Current | Pt. Change | % Change |
S&P BSE SENSEX | 33,662.73 | -61.71 | -0.18 |
S&P BSE SENSEX 50 | 10,828.60 | -12.43 | -0.11 |
S&P BSE SENSEX Next 50 | 35,952.09 | +75.59 | +0.21 |
S&P BSE 100 | 10,858.37 | -6.71 | -0.06 |
S&P BSE Bharat 22 Index | 3,740.14 | -24.53 | -0.65 |
Source: BSE
11:32 AM
Morgan Stanley more bullish on China than India
Morgan Stanley has reduced the size of its overweight rating on India for 2018 to accommodate Brazil's upgrade to the overweight category where they expect a significant economic growth. China is its biggest overweight in the global context. READ MORE
Jonathan Garner, chief Asia and emerging markets equity strategist, Morgan Stanley
10:58 AM
Gas companies in a sweet spot
With judicial action increasingly becoming negative on the use of pet coke, higher demand from industrial users should benefit gas companies. Industrial usage is expected to increase further with furnace oil and pet coke bans in the National Capital Region (NCR), Rajasthan, Uttar Pradesh and Haryana.
The industries are to shift to alternative fuels, including natural gas, to fulfil their energy requirements. READ FULL ANALYSIS
10:34 AM
Buzzing stock
Rallis India surged 7% to Rs 246 on the BSE in early morning trade after the Franklin Templeton Mutual Fund bought nearly one percentage point stake in Tata Group Company for Rs 41 crore through open market. READ MORE
10:16 AM
Goldman Sachs sets Nifty target of 11,600 for Dec 2018
Goldman Sachs expects the healthy run in the global equity markets, including India, seen this year to continue in 2018 as well. The US-based brokerage expects the benchmark Nifty to climb to 11,600 by the end of the next calendar year, implying a 12 per cent upside from current levels. The forecast is impressive, considering the 50-share index has already rallied 28 per cent in the past one year. READ MORE
10:03 AM
Markets check
At 10:00 am, the S&P BSE Sensex was trading at 33,663, down 61 points, while the broader Nifty50 was ruling at 10,380, down 19 points.
At 10:00 am, the S&P BSE Sensex was trading at 33,663, down 61 points, while the broader Nifty50 was ruling at 10,380, down 19 points.
9:53 AM
900% rise in a yr! Bitcoin surges past $9000
The price of bitcoin surged past $9,000 over the weekend for the first time, a rise of nearly 900% this year. Its rise is only getting faster.
Bitcoin rose as high as $9,682 Monday morning in Asia, meaning it has taken just seven days for the digital currency to go from $8,000 to $9,000, according to research site CoinDesk. That marks the fastest thousand-point rally in its short history, surpassing the eight days it took to go from $3,000 to $4,000, and the nine days it needed to go from $5,000 to $6,000. READ FULL REPORT
9:41 AM
Bharat 22 ETF makes decent debut
Bharat 22 Exchange Traded Fund (ETF) made a decent debut on the BSE by listing at Rs 36.30, a 0.91% premium over its issue price of Rs 35.97 per unit.
9:30 AM
Sectoral trend
Source: NSE
9:22 AM
Sensex heatmap at open
Source: BSE
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First Published: Nov 28 2017 | 3:30 PM IST