Sensex, Nifty end flat; Oil marketing companies gain ground

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4:42 PM

Markets at close

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	32,609.16	-24.48	-0.08
S&P BSE SENSEX 50	10,621.00	0.52	0.00
S&P BSE SENSEX Next 50	34,980.82	+209.14	+0.60
S&P BSE 100	10,636.26	+10.76	+0.10
S&P BSE MidCap	16,114.50	+64.27	+0.40

(Source: BSE)

2:57 PM

Buzzing stock

 

Prakash Industries rallied to its almost seven-year high of Rs 149, up 9% on the BSE in intra-day trade after the company reported nearly five-fold jump in net profit at Rs 65 crore in September quarter (Q2FY18). It had posted profit of Rs 14 crore in the same quarter last fiscal year. The stock is trading at its highest level since November 2010. 

2:30 PM

MAS Financial Services to debut tomorrow 

 

Non-banking financial company MAS Financial Services will make stock market debut tomorrow after having concluded its initial share sale offer last week.

 

The Rs 460-crore initial public offer (IPO) was over- subscribed 128 times from October 6-10.

 

The company had fixed the price band at Rs 456-459 per share for the IPO.

2:18 PM

Reliance Securities on KNR Constructions 

 

KNR Constructions (KNRC) surged nearly 2% in Monday’s trade on expectations of better performance, led by possible surge in order inflow and execution expertise. Notably, KNRC has been very consistent in terms of execution and delivering higher growth over the years. We expect KNRC’s revenue and PAT to register 18% and 11% CAGR, respectively through FY17-FY19E on the back of decent order book and healthy order inflow in coming months. We maintain our positive view on KNRC mainly owing to healthy order book, strong balance sheet (0.1x net D/E) and sound execution credentials. We reiterate our fundamental BUY recommendation on the stock with a SOTP-based Target Price of Rs 245.

1:55 PM

Gold: Place long-term bets on structured plans

 

Roll-out of a uniform indirect tax code or GST and Prevention of Money Laundering Act, or PMLA, has put the gold market in a spot. At the global level, expectations that the US Federal Reserve may raise interest rates for a third time by December this year has prompted traders to take a cautious stance on bullion. Gold is highly sensitive to the US interest rates and inflation and increases the opportunity cost of holding non-yielding bullion which is priced in US greenback. READ MORE

1:12 PM

Markets check

At 1:10 pm, the Sensex was trading at 32,588, down 44 points, while the broader Nifty50 was ruling at 10,220, down 10 points. 

1:11 PM

Buzzing stock

 

Aries Agro soared 18% to Rs 244, extending its previous day’s rally on the National Stock Exchange (NSE) after ace investor Vijay Kishanlal Kedia hiked stakes in the fertiliser company by nearly two percentage points via open market purchases. READ MORE

12:38 PM

Top five losers on Nifty in noon deals 

Source: NSE

12:22 PM

Samvat 2073: Market stays resilient amid multiple disruptions

 

From the demonetisation drive that sought to curb the menace of black money in the economy to implementation of goods and services tax (GST) bill and a possible delay in the earnings of India Inc, the markets have taken the developments in their stride. At the global level, the surprise victory of Donald Trump in the US presidential election, geopolitical tensions and monetary policies of global central banks impacted sentiment. Yet, the Indian markets notched up gains of around 17% during Samvat 2073. READ FULL REPORT

12:07 PM

Jaitley launches MCX gold options

 

Finance Minister Arun Jaitley on Tuesday launched gold options trading on the leading commodity bourse MCX and said this is one of the steps towards formalising trade in the yellow metal. READ FULL REPORT

11:43 AM

BASF India, Adani Transmission, NBCC, Radico Khaitan hit new highs

 

BASF India, Adani Transmission, NBCC (India), Radico Khaitan, Trent, Uflex, Tata Chemicals, NIIT Technologies and Federal Bank are among 14 stocks from the S&P BSE500 index, which hit their respective new highs on the BSE in an otherwise subdued market. READ MORE

 

11:27 AM

Indian investment banks topple foreign peers in IPO showdown

 

Domestic investment banks (i-banks) have edged out their foreign peers in capturing a significant chunk of the booming initial public offering (IPO) market in the past two years. In terms of deal size, domestic i-banks had cornered a 66 per cent market share in calendar year 2016. This year, their share in the IPO pie has risen to 73 per cent, data collated from Prime Database shows. READ FULL REPORT

11:07 AM

Broader markets outperform 

 

The BSE Midcap and the BSE Smallcap indices were trading 0.4% and 0.5% higher, respectively. 

10:48 AM

Markets check

At 10:45 am, the Sensex was trading at 32,593, down 40 points, while the broader Nifty50 was ruling at 10,232, up 2 points.

10:46 AM

Earnings alert: Infosys

 

Infosys Limited, a global leader in consulting, technology, outsourcing and next-generation services, will announce the results for its second quarter ended September 30, 2017 on Tuesday, October 24, 2017 around 3:45 p.m. Indian Standard Time (IST)

 

(Source: Company release)