Sensex ends at record high, Nifty settles over 10,550 for first time ever

All that happened in the markets today

3:44 PM

Markets today

S&P BSE Sensex	34,153.85		0.54%
Nifty 50	10,561.35		0.54%
S&P BSE 200	4,712.02		0.68%
Nifty 500	9,573.10		0.71%
S&P BSE Mid-Cap	18,070.03		0.69%
S&P BSE Small-Cap	19,704.92		0.97%

3:43 PM

Nifty PSU Bank was the only sectoral index in red

Source: NSE

3:41 PM

Sectoral Trend

Source: NSE

3:40 PM

Top Sensex gainers and losers

Source: BSE

3:37 PM

Markets at Close

The S&P BSE Sensex ended at new closing high at 34,153, up 184 points while the broader Nifty50 indec settled abobe 10,550 for the first time ever. It ended at 10,558, up 54 points

3:19 PM

FMCG sector grows by 9% in Dec 16-Nov 17 period

 

The fast moving consumer goods (FMCG) sector in India grew by nine per cent between December 2016 and November 2017, as per research agency Nielsen. While, the growth figure stands taller with comparable numbers for the past five years, a lower base may have played a role.

 

During the period FMCG majors like Hindustan Unilever (HUL), Dabur and Marico witnessed severe fluctuations in sales numbers. HUL – the largest player in the sector – for example, posted four per cent growth in volume during January-March quarter, followed by flat sales in June quarter.

For Dabur, the numbers are lower. While, it managed to post 2.4 per cent growth during the first three months of the year, sales dipped 4.4 per cent year-on-year during April-June, thanks to the massive destocking exercise taken up by all trade partners. Marico, after posted impressive 10 per cent growth in March, witnessed nine per cent plunge in volume uptick.

3:11 PM

BSE Telecom index nears record high; up 3%

 

Shares of telecommunication companies were in focus with the S&P BSE Telecom index rallying more than 3% on BSE, trading close to its record high.

 

Idea Cellular, Bharti Airtel, Reliance Communications (RCom), Tejas Networks, GTL, GTL Infrastructure, Aksh Optifibre and Sterlite Technologies from the telecom index have surged up to 12% on BSE in intra-day trade. READ MORE

3:03 PM

Subros starts supply of blower for trucks; stock hits record high

 

Subros hit an all-time high of Rs 347, up 11% on BSE in intra-day deal, after the company announced that it has started supply of blower for trucks to its customers include Tata Motors and Ashok Leyland.

 

During the past year, Subros has intimated its investors and stakeholders about the impact of notification(s) issued by the Ministry of State for Road Transport and Highways about introduction of Blower in Truck application for N2 (3.5 to 12 tonnes) and N3 (above 12 tonnes) category trucks, the company said in a regulatory filing.

 

Subros has tied up with Ashok Leyland, Swaraj Mazda Isuzu, Mahindra Truck and Bus Division and Tata Motors for the businesses, it added. READ MORE

2:47 PM

Looking at cryptocurrencies? These altcoins are rising faster than bitcoin

 

Bitcoin alternatives are closing the gap with the market leader after names like stellar and cardano became red hot as 2017 was closing.

 

The biggest cryptocurrency's share of market value has fallen to a record 36 per cent from 56 per cent a month ago, according to CoinMarketCap prices for coins and tokens. Stellar, designed for cross-border payments, has more than doubled in the first trading days of this year, achieving a record market cap of more than $13 billion.

 

That kind of move raises questions as to whether speculators will drive up second-tier digital coins at the expense of bitcoin, even though they have different purposes. The paper value of all cryptocurrencies combined has more than doubled to almost $700 billion in the past month. READ MORE

2:32 PM

Market Check

S&P BSE Sensex	34,135.27		0.49%
Nifty 50	10,549.60		0.43%
S&P BSE 200	4,709.26		0.62%
Nifty 500	9,565.90		0.63%
S&P BSE Mid-Cap	18,072.96		0.71%
S&P BSE Small-Cap	19,697.92		0.93%

2:15 PM

FY18 GDP advance estimates today: A look at hits & misses of the past

 

The Advance Estimates of growth in gross domestic product for the current financial year, which will be released on Friday, may give the correct picture of the economy if the strike rate of the correctness of these data with the first provisional data for the past two years is sustained. 

 

The estimates were also on the dot in 2013-14 when growth had slid to five per cent due to the so-called policy logjam. For the rest of the years, the deviation was a couple of percentage points here and there, barring the global financial crisis year of 2008-09 and 2011-12 when the eurozone crisis hit the world economy. Advance Estimates are used for computing Budget numbers such as fiscal deficit. READ MORE

2:01 PM

Will 2018 be the year of oil stocks? Investors bet big on crude's recovery

 

Investors are gaining confidence - up to a point - that 2018 will be the year of oil stocks.

 

While shares in top energy companies have risen since mid-2017, they have failed to keep step with recovering crude markets, opening up a historically unusual performance gap. Big oil stocks have also underperformed broader equity indexes.

 

Uncertainty over whether the crude rally can stick and fears that advances in electric vehicles will undermine longer-term demand for oil still overshadow the sector. READ MORE

1:44 PM

FY18 GDP advance estimates today: Growth to slip below 7%, say experts

 

India's economic growth is likely to be below 7 per cent this fiscal, say experts, citing GST disruption and lingering impact of note ban.

 

The Indian economy grew 7.1 per cent in 2016-17, against 8 per cent in 2015-16.

 

The Central Statistics Office (CSO) is scheduled to release its advance estimates of national income 2017-18 on Friday.

 

"It is difficult for GDP to cross 7 per cent this fiscal unless the base is revised downwards. The economy is expected to do well in the third and fourth quarter," SBI Research Chief Economist Soumya Kanti Ghosh told PTI. READ MORE

1:33 PM

Warren Buffett says years of US growth 'certainly lie ahead'

 

Billionaire Warren Buffett remains optimistic about the US economy and the nation's prospects for the future.

 

Buffett wrote an essay for Time magazine that appeared online Thursday, part of an issue edited by Bill Gates that was dedicated to "The Optimists." In his essay, Buffett explained why he often says that most American children will live better than their parents.

 

Buffett said that even if the economy continues to grow at a modest pace of about 2 percent a year, the next generation of Americans will fare better because the economy will still grow faster than the U.S. population does.

1:00 PM

Cement shares extend rally

 

Shares of cement companies were trading higher for the second straight day on expectation of increase in demand on the back of pick up in the affordable and rural housing segments.

 

Prism Cement, Deccan Cements, Orient Cement, Panyam Cement and Gujarat Sidhee Cement were up in the range of 5% to 12%, while Star Cement, India Cements, HeidelbergCement India, Sanghi Industries and Shree Cement up 2% to 4% on BSE on Friday. On comparison, the S&P BSE Sensex was up 0.44% at 34,118 at 11:19 AM. READ MORE