Indices wave goodbye to 2017 on a positive note; Nifty ends above 10,500

All that happened in today's trade

3:50 PM

Sectoral trend

Source: NSE

3:45 PM

Markets at close

The S&P BSE Sensex settled at 34,056, up 209 points, while the broader Nifty50 ended at 10,530, up 52 points. For the year, both the indices added nearly 28%. 

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	34,056.83	+208.80	+0.62
S&P BSE SENSEX 50	10,979.78	+60.67	+0.56
S&P BSE SENSEX Next 50	36,849.38	+204.10	+0.56
S&P BSE 100	11,029.78	+60.96	+0.56
S&P BSE Bharat 22 Index	3,772.25	+12.68	+0.34

Source: BSE

3:26 PM

Buzzing stock

 

Shares of Infibeam Incorporation turned volatile trading 12% lower at Rs 144.80 on Friday at 02:12 PM; on back of heavy volumes.

 

The stock of internet software & services recovered 47% from its early morning low of Rs 98.80 on the BSE. It was closed at Rs 165 on Thursday. READ MORE

3:23 PM

Top 10 best and worst performing stocks of 2017

 

The year 2017 was rewarding one for Dalal Street, with over 80 stocks on the BSE 500 more than doubling investors' wealth during the year, even as the S&P BSE Sensex rallied 27%. Two stocks - HEG and Indiabulls Ventures - delivered over 1,000% during the period.  

 

There were at least 79 stocks on the BSE-500 that gained over 100% in 2017. By comparison, the BSE-500 and the S&P BSE Sensex advanced 35% and 27%, respectively. READ MORE

3:21 PM

Realty, consumer durable sectors outperform, up over 100% in CY17

 

Contrary to expectations that demonetisation and implementation of the goods and services tax (GST) bill will dent the fortunes of consumer durables sector and realty sectors, both indices have maned to outperform the markets during calendar year 2017 (CY17).

 

While the S&P BSE Consumer Durables index gained 101% during CY17, the S&P BSE Realty index rallied 106% during the same period. By comparison, the S&P BSE Sensex moved up over 27%. READ MORE

3:20 PM

April-Nov fiscal deficit hits 112% of full-year target

 

India reported a fiscal deficit of Rs 6.12 lakh crore  ($95.77 billion) for April-November or 112 per cent of the budgeted target for the current financial year that ends in March.

 

Net tax receipts in the first eight months of 2017/18 financial year were Rs 6.99 lakh crore ($109.39 billion), government data showed on Friday. CLICK HERE FOR DETAILS

3:15 PM

Central borrowing of Rs 50,000 cr to delay lending rate cuts: BofAML 

 

The additional borrowing of Rs 50,000 crore by the Centre is a "negative surprise" that will sustain higher yields and delay lending rate cuts, the key for economic growth recovery, says a report.

 

"We thought that the government's decision to borrow another Rs 500 billion/0.3 per cent of GDP was an avoidable negative surprise in an already nervous G-sec market," Bank of America Merrill Lynch said in a research note. READ MORE

3:06 PM

Markets check 

At 3:00 pm, the S&P BSE Sensex was trading at 34,056, up 208 points, while the broader Nifty50 was ruling at 10,530, up 53 points. 

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	34,046.69	+198.66	+0.59
S&P BSE SENSEX 50	10,977.87	+58.76	+0.54
S&P BSE SENSEX Next 50	36,812.53	+167.25	+0.46
S&P BSE 100	11,026.29	+57.47	+0.52
S&P BSE Bharat 22 Index	3,771.20	+11.63	+0.31

Source: BSE

2:52 PM

Ignore bitcoin mania: Five personal finance lessons from 2017

 

For those who had an allocation to equities, 2017 was a very good year. But with interest rates on fixed-income products falling, fixed-income investors took a beating. Here are five key lessons you can draw from the year that has just gone by. CLICK HERE FOR MORE

2:30 PM

Sensex heatmap in afternoon trade 

Source: BSE

2:04 PM

Improving BFSI demand positive for IT

 

Stocks of IT majors have gained up to four per cent over the past week on expectations that IT budgets of North American companies could trend higher. Over 60 per cent of revenues for top IT firms come from North America, and revenue visibility, given a positive management commentary by Accenture, could lead to a growth upcycle.

 

On Accenture results last week, analysts at Morgan Stanley had said, “Revenue beat, uptick in lower end of guidance, record growth in new bookings, among others, bode well for Indian IT vendors and could reflect positively on the stocks. READ FULL REPORT

1:47 PM

Buzzing stocks 

 

Shares of Jaiprakash Associates (JP) Group stocks Jaiprakash Associates, Jaiprakash Power Ventures and Jaypee Infratech rallied by upto 20% in intra-day trade on the BSE, extending their gains for the past three days on back of positive media reports.

 

Jaiprakash Power Ventures has surged 20% to Rs 9.52, also its 52-week high on the BSE in intra-day trade today on back of heavy volumes. The stock rallied 37% in past four trading sessions after the media report suggested that lenders scout for new owner for JP Group arm Prayagraj Power. READ MORE

1:30 PM

Arihant Capital Markets on Bank of Baroda

 

Bank of Baroda has entered into an agreement with UniCredit SPA, Baroda Pioneer Asset Management Company Ltd and Baroda Pioneer Trustee Company Pvt Ltd to acquire a 51% stake in both the asset management and trustee company.

 

Pursuant to the share purchase agreement (SPA), the Bank will be purchasing from its joint venture partner, UniCredit, their entire equity stake of 51% in the Baroda Pioneer AMC and the Trustee Company. Post the acquisition, BoB will become the sole shareholder of the AMC and the Trustee Company and sole sponsor of the Baroda Pioneer Mutual Fund.

 

Valuation

 

We have valued stock on P/ABV(x) of 2.1(x) on its FY 19E ABV of Rs 101 per share and have arrived at fair value of Rs 212. We have BUY rating on the stock.

1:02 PM

Market Check at 1 pm

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,988.75	+140.72	+0.42
S&P BSE SENSEX 50	10,957.08	+37.97	+0.35
S&P BSE SENSEX Next 50	36,832.43	+187.15	+0.51
S&P BSE 100	11,009.88	+41.06	+0.37
S&P BSE Bharat 22 Index	3,768.06	+8.49	+0.23

12:47 PM

Insolvency process: Edelweiss joins race for Monnet Ispat

 

Edelweiss Asset Reconstruction Company has joined the race to buy Monnet Ispat & Energy’s assets after JSW Steel presented a resolution plan asking lenders to take a 72 per cent haircut on the company’s Rs 8,900-crore debt. Till now, JSW Steel was the only company to have submitted a resolution plan.

 

According to a source close to the development, Edelweiss has already submitted its expression of interest and would be presenting a resolution plan in the coming days. The last date for Monnet Ispat will be extended as lenders are not happy with JSW Steel’s offer. Monnet Ispat plans to file an application for a 90-day extension before the National Company Law Tribunal. Monnet Ispat’s 180 days would be completed on January 13 and 270 days on April 4. The delay is good for JSW Steel, which has sought clarity on the income-tax to be levied on the haircut taken by the bank and interest foregone by them. The coming Budget is expected to clarify on this aspect. READ MORE