Sensex ends 227 points lower, Nifty dips below 10,250 on inflation fears

All that happened in Tuesday's trade

12:32 PM

Top Sensex gainers and losers

Source: BSE

12:18 PM

Market Check

Index	Current	Pt. Change	% Change
S&P BSE SENSEX	33,315.56	-140.23	-0.42
S&P BSE SENSEX 50	10,724.70	-44.11	-0.41
S&P BSE SENSEX Next 50	35,656.87	-180.76	-0.50
S&P BSE 100	10,756.61	-45.95	-0.43
S&P BSE Bharat 22 Index	3,698.25	-23.04	-0.62

12:02 PM

Puravankara zooms 81% in one month post Q2 results

 

Puravankara hit a fresh 52-week high of Rs 172, up 12% on the BSE on Tuesday, on the back of heavy volumes in an otherwise subdued market.

 

In past one month, the stock of realty firm zoomed 81% from Rs 95 on November 13, as compared to 0.85% rise in the S&P BSE Sensex.

 

“The company reported a strong new sales volume growth of 74% at 803,966 sft. in September quarter (Q2FY18) led primarily by sales in completed and nearing  completion projects, as well as by provident. The full impact of this would be witnessed in the coming quarters,” Puravankara said in a statement. READ MORE

11:46 AM

Punjab National Bank launches up to $777 million share sale

 

Indian state-run Punjab National Bank has launched a share sale to qualified institutions to raise at least 30 billion rupees ($466.2 million) with an upsize option for another 20 billion rupees, according a source and a deal term sheet.

 

Punjab National Bank, the second-biggest state-run lender in the country, is looking to sell the shares at an indicative price of 168 rupees each, according to the source and the term sheet. 

11:26 AM

New launches, rural uptick can revive Colgate's fortunes

 

After underperforming on the volume front and losing market share over the past few quarters, Colgate-Palmolive is expected to recover some of the volumes on the back of new launches, price cuts and uptick in rural demand.

 

The company has lost about 400-basis point market share in the toothpaste category over the past two years, to 54 per cent, on account of minimal presence in the naturals segment as well as stiff competition from early entrants Patanjali and Dabur.  READ MORE

11:10 AM

Oil exploration stocks in focus; Aban Offshore, Selan Exploration up 5%

 

Shares of oil exploration, equipment and services companies were trading higher on the bourses by up to 7% in otherwise subdued market as Brent crude oil prices near 2015 high after North Sea pipeline shutdown.

 

Aban Offshore, Dolphin Offshore Enterprises, Selan Exploration Technology, Hindustan Oil Exploration Company and Jindal Drilling & Industries were up between 3% and 6% on BSE. Oil and Natural Gas Corporation (ONGC) and Oil India too trading higher in the range of 1% to 2%. READ MORE

10:55 AM

Indian pharma companies under pressure on bourses, MNC peers fare better

 

At a time when Indian pharmaceutical companies are under pressure on stock exchanges, many of their multinational (MNC) peers are performing much better.

 

Abbott India, for instance, scaled to its 52-week high last week, while Pfizer did so in the latter half of November. Even for others like Sanofi India, GlaxoSmithKline Pharma (GSK) and Merck, analysts expect better days ahead. The confidence stems from the expectation of domestic pharma market growth rebounding to healthy double digits in the second half of FY18. READ MORE

10:38 AM

Interview of the day

We see some market shocks next year: Nomura's Robert Subbaraman

 

Robert Subbaraman, managing director and head of emerging market economics at the brokerage, said that the market has got so used to the US Federal Reserve’s (Fed’s) gradualism and predictability that it will have to endure some shocks. Click here for full interview

10:16 AM

Buzzing in trade

Dr Reddy's Laboratories rallied 6% to Rs 2,328 on BSE in early morning trade after the company announced that it has received Establishment Inspection Report (EIR) from the US drug regulator for its facility in Hyderabad following the audit in April.

 

“We have received EIR from the US Food and Drug Administration (USFDA) on December 11, 2017 as closure of audit, for formulations manufacturing plant-3 at Bachupally, Hyderabad,” Dr Reddy’s Laboratories said in a statement.

 

The above-referred facility was audited by USFDA in April 2017, wherein it issued a form 483 with 11 observations. READ MORE

9:56 AM

India's GDP growth seen rising 7.2% in 2018, 7.4% in 2019: UN report

 

India's growth rate is projected to accelerate to 7.2 per cent in 2018 and 7.4 per cent in 2019, the UN said, describing the outlook for the country as "largely positive".

 

Despite the slowdown observed in early 2017 and the lingering effects from the demonetisation policy, the outlook for India remains largely positive, underpinned by robust private consumption and public investment as well as ongoing structural reforms," the United Nations said.

 

In its report 'World Economic Situation Prospects', released at the UN headquarters in New York, the UN said, "GDP growth for India is projected to accelerate from 6.7 per cent in 2017 to 7.2 per cent in 2018 and 7.4 per cent in 2019". READ MORE

9:38 AM

Top Sectoral gainers: Nifty Pharma

Source: NSE

9:22 AM

Sectoral trend

Source: NSE

9:21 AM

Top Sensex gainers and losers

Source: BSE

9:19 AM

Broader Markets

In broader markets, the BSE Midcap and BSE Smallcap indices were little changed

9:18 AM

Markets Open

Benchmark indices open flat following Asian shares, that took a breather on Tuesday after three straight sessions of gains, with markets consolidating in the hope an upswing in global growth could outlast a likely hike in US borrowing costs this week.

At 9:17 the S&P BSE Sensex was trading at 33,388, down 67 points while the broader Nifty50 index was ruling at 10,295, down 26 points