Sensex ends lower, Nifty below 11050 as investors await Budget

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4:27 PM

COMMENT

Volatility could remain high in the next few trading sessions considering key events like the US Fed policy meet and Union Budget at home. The government is expected to present a balanced budget being its last full budget before general elections; however any negative surprise on the fiscal deficit target could dampen investor sentiments. Thus, we advise to remain selective in stocks and avoid over leveraging for the near term

(Source: Jayant Manglik, President, Religare Broking)

3:42 PM

Sectoral Trend

3:35 PM

Top Sensex gainers and losers

3:33 PM

Market at close

The Sensex and Nifty edged lower on Tuesday, tracking Asian peers, as investors booked profits in recent outperformers such as index heavyweight HDFC Bank Ltd, while caution prevailed ahead of the federal budget, due later this week.

 

The S&P BSE Sensex ended at 36,033, down 249 points while the broader Nifty50 index settled at 11,049, up 80 points

3:21 PM

Factbox: Expectations for India's 2018/19 budget

 

India's government will unveil its budget for the 2018/19 fiscal year on Thursday, with investors expecting increased investment in key areas such as agriculture, and a slew of incentives for businesses.

 

Handicapped by the chaotic roll out of a goods and service tax (GST) last year and a shock, overnight move to take high value banknotes out of circulation in late 2016, India's economy is expected to post growth of 6.75 percent in the 2017/18 fiscal year ending in March, which would be the slowest in three years. READ MORE

3:10 PM

SIPs: Investors better off with monthly investments as it's easy to track

 

As investor are increasingly looking at systematic investment plan (SIP) to invest in mutual funds, a few distributors and fund houses have started offering variants of SIP. LIC Mutual fund has started a daily SIP option with a minimum investment amount of Rs 300 a day.

 

HDFC Securities is offering the same for HDFC Mutual Fund at Rs 500 a day. SIP helps investors to make the most of market volatility by averaging the cost of investments and removing the need to time the market. READ MORE

3:01 PM

Indian Oil gains 5% on 1:1 bonus, interim dividend of Rs 19 per share

 

Indian Oil Corporation (IOCL) gained 5% to Rs 419 on BSE in intra-day deal after the company’s board recommended bonus shares in the ratio of 1:1 i.e. one equity share for one exiting equity share held.

 

The board also declared an interim dividend of Rs 19 per equity share on face value of Rs 10. It fixed February 9, 2018 as the ‘record date’ for the purpose of ascertaining the eligibility of shareholders for payment of interim dividend.

 

The state-owned oil marketing company has reported nearly doubled standalone net profit at Rs 78.83 billion for the quarter ended December 2017 (Q3FY18). READ MORE

2:45 PM

No tax relief, spending spree due in last budget before elections: Poll

 

India is expected to unveil only modest stimulus at this week's budget, a Reuters poll of analysts showed, despite it being the last before the next election, with government spending likely limited by longer-term efforts to trim the fiscal deficit.

 

The latest Reuters poll shows the government is expected to delay the timeframe for hitting that target by another year, for the third year in a row, due to setbacks in the economic outlook.

 

The median forecast from over 40 economists polled Jan 24-29 was for India's government to borrow 3.2% of gross domestic product (GDP) in fiscal 2018-19. READ MORE

2:31 PM

Market Check

S&P BSE Sensex	36,059.11		-0.62%
Nifty 50	11,048.20		-0.74%
S&P BSE 200	4,832.99		-0.66%
Nifty 500	9,745.60		-0.75%
S&P BSE Mid-Cap	17,554.11		-0.88%
S&P BSE Small-Cap	18,915.35		-1.12%

2:15 PM

Two-wheeler major TVS Motor Q3 net up 16% to Rs 1.55 bn on strong sales

 

TVS Motor's Profit After Tax (PAT) rose 16.3 per cent to Rs 1.55 billion (Rs 155 crore) in the quarter ended December 2017, from Rs 1.33 billion (Rs 133 crore) in the corresponding quarter a year ago.

 

The company reported a revenue growth of 23.5 per cent for the quarter under review. Revenue excluding excise duty and GST grew to Rs 36.85 billion (Rs 3,685 crore) in the quarter ended December 2017 from Rs 29.84 billion in the year-ago quarter. READ MORE

2:00 PM

17 stocks from BSE Smallcap index hit 52-week low; Bhushan Steel falls 16%

 

Bhushan Steel, Multi Commodity Exchange of India (MCX), Bank of Maharashtra, United Bank of India and Vivimed Labs were 17 stocks from the S&P BSE Smallcap index hitting their respective 52-week low on BSE in intra-day trade on Tuesday.

 

Bombay Rayon Fashions, CL Educate, D B Corp, Dynamatic Technologies, North Eastern Carriers, Sangam India, Sathavana Ispat and Uttam Galva Steels too hit 52-week low today. READ MORE

1:47 PM

Apple loses $14 bn in m-cap as shares dip on reports of weak iPhone X sales

 

Apple Inc will halve its iPhone X production target for the first three months of the year to around 20 million units, Nikkei reported on Monday, sending its shares down 1.6 per cent.

 

The report added to growing concerns about weak sales of the $999 phone, making investors jittery about the company's financial outlook when it reports first-quarter results on Thursday.

 

Apple's shares fell to their lowest level in 2018, knocking off $14 billion from the company's market value. The company declined to comment. READ MORE

1:31 PM

SBI jacks up bulk deposit rates by 75-140 bps in second hike in 2 months

 

The country’s largest bank, State Bank of India, raised interest rate on domestic bulk term deposits on Tuesday by 75-140 basis points with immediate effect, at a time when liquidity in the system is under strain.
 

This is second hike in bulk deposit rates by SBI in a span of about two months.

 

It had raised bulk term deposits by one per cent (100 basis points) in November 2017. READ MORE

1:15 PM

Mixed performance for rail-related stocks ahead of Budget 2018

 

It has been a mixed performance for railway-related stocks at the bourses thus far in calendar year 2018 (CY18) with Larsen & Toubro (L&T), ABB India and Kernex Microsystems rallying up to 25% ahead of the budget presentation on February 1.

 

On the other hand, Hind Rectifiers, Titagarh Wagons, BEML, Stone India, Kernex Microsystems, Stone India and Zicom Electronic have slipped 3% to 17%. By comparison, the S&P BSE Sensex and Nifty 50 index have gained 6% thus far in CY18. READ MORE

Photo: Shutterstock

1:00 PM

Market Check

S&P BSE Sensex	36,061.36		-0.61%
Nifty 50	11,050.50		-0.72%
S&P BSE 200	4,834.77		-0.62%
Nifty 500	9,749.75		-0.71%
S&P BSE Mid-Cap	17,590.77		-0.67%
S&P BSE Small-Cap	18,944.11		-0.97%