Sensex ends Samvat 2073 with 17% gain, Nifty up 18%

Catch all live market action here

11:03 AM

Sebi's new rules make mutual funds see red

 

The Securities and Exchange Board of India’s (Sebi’s) new rules on ‘categorisation and rationalisation of mutual fund (MF) schemes’ are facing a pushback from managers overseeing assets worth Rs 21 lakh crore ($320 billion). Earlier this month, the markets regulator set rules to define various investment scheme categories offered by fund houses within the debt and equity segments. READ FULL REPORT

10:46 AM

MAS Financial Services makes strong debut

 

MAS Financial Services made a strong debut by listing at Rs 660, a 44% premium against its issue price of Rs 459 per share on the National Stock Exchange (NSE) and the BSE. READ MORE

10:15 AM

Wipro gains post Q2

 

Wipro gained over 2% to Rs 298 after country's third largest software services firm said its consolidated net profit declined marginally to Rs 2,143.2 crore for the quarter ended September 30, 2017. This is against a net profit of Rs 2,163.6 crore in the July-September 2016 quarter as per Indian accounting norms (Ind AS), Wipro said in a BSE filing. READ EARNINGS DETAILS 

9:54 AM

Sectoral trend: All but Nifty Metal and Nifty Realty indices were trading in red. 

Source: NSE

9:38 AM

Information nugget: Muhurat trading timimg

 

Diwali Laxmi Pujan for Equity Segment on Thursday, October 19, 2017 

 

Pre-open Session 

 

Order Entry Period#   

 

6:15 pm   -   6:23 pm

 

Order Matching & Equilibrium price determination

 

6:23 pm  -   6:30 pm

 

Continuous Trading

6:30 pm   -   7:30 pm

 

Closing

7:30 pm  -   7:40 pm

 

Post-Closing

 

7:40 pm  -  7:50 pm

9:33 AM

Axis Bank top loser 

Axis Bank tanked over 7% to Rs 475 as the private lender's asset quality worsened with percentage of gross non-performing assets (NPA) increasing to 5.90% from 5.03% in the sequential quarter ended June 30, 2017. READ EARNINGS DETAILS HERE  

9:25 AM

Sensex heatmap at open 

Source: BSE

9:23 AM

Markets at open

At 9:20 am, the S&P BSE Sensex was trading at 32,519.36, down 90 points, while the broader Nifty50 was ruling at 10,219, down 15 points.

9:11 AM

Stocks to buy in Samvat 2074
 

Here is a compilation of the top stocks that leading research houses and brokerages have recommended for Samvat 2074 READ MORE HERE

9:10 AM

Market outlook by ICICI Securities

 

Going forward, with a positive momentum in the economy driven by reforms undertaken by the central government amid stable commodity prices, we expect earnings to stage a strong double digit recovery (15.7% CAGR) over FY17-19E. We ascribe a fair value for Sensex at 34500 i.e. 18.4x P/E on FY19E EPS with corresponding levels for the Nifty at 10750

9:08 AM

Indiabulls Ventures zooms nearly 1000% in Samvat 2073

 

A quick analysis of stock price movement in the BSE 500 segment reveals as many as 24 stocks doubled investor wealth during the last Samvat (between October 30, 2016 – October 13, 2017), with Indiabulls Ventures rallying up to 1000%. Adani Transmission, Avanti Feeds, Rain Industries, Bombay Dyeing and Future Retail gained in the range of 200% - 400% during this period, ACE Equity data show CLICK HERE FOR MORE

9:07 AM

Jefferies on Axis Bank

 

The quarter was marred by higher NPL recognition and provisions - RBI driven divergence and NCLT cases. However, the pool of below investment grade exposure is steadily trending down, at 5.9% of exposure ex retail. The new business franchise remains robust although NPL pains will be visible next 2 quarters. Roll fwd, maintain Buy with revised price target of Rs 635.

 

 

9:06 AM

Jefferies on Bajaj Auto

 

Bajaj's 2Q revenue, EBITDA and net profit were in line with our expectations but slightly ahead of consensus. Despite sharp QoQ improvement in EBITDA margin to 19.7%, we believe it will still fall short of full year guidance of 19.5% to 20%. More importantly we remain concerned on growth and market share trends in domestic 2-wheeler business. Recent trends in exports have been encouraging and look like the best source for a positive surprise in 2H, if any.

 

We value Bajaj using DCF to arrive at a price target of Rs3002 (including Rs148 on account of its 48% stake in KTM), which implies FY19 P/E of 20x. Key risks: 1> Turnaround/Further weakening in export markets 2> Beat/miss in domestic volume growth, market share 3> Beat/miss in margins 4> Entry into scooters

(Photo courtesy: Twitter)

9:05 AM

Stay long on Nifty, with a stop at 10,125

 

The market soared in pre-Diwali trading. Strongly bullish global trends, excellent results by Reliance Industries and high liquidity translated into new highs. The Nifty hit 10,251 before seeing some profit-booking. Although foreign portfolio investors (FPIs) remained net equity sellers, retail and domestic institutional buying picked up. READ MORE

9:03 AM

Emkay Global on pharma sector

 

US president again rakes up high prescription drug prices in the US but in our opinion more of a political threat against US branded companies than generic industry. US political environment against pharma price hikes continues to turn adverse; note the laws passed by US states Maryland and California against any predatory pricing.

 

Generic sector though should worry about limited ability to raise prices in older mature products, a practice far more widespread than earlier believed. On a separate note; expect more diplomatic pressure on countries like India, which have denied branded companies complete flexibility in enforcing their global patents and pricing strategies​