3:48 PM
Market rundown with Jayant Manglik, President, Retail Distribution, Religare Securities
Markets opened on robust note and managed to end with decent gains, tracking firm local cues. Sentiments boosted mainly in reaction to the exit polls indicating easy win for BJP, in both Gujarat and Himachal Pradesh state elections. Almost all the sectoral indices participated in the move led by metal, realty and auto pack. Sharp decline in the volatility index also helped in smoothen participants' nerves.
With all eyes on actual state elections outcome, we expect fireworks in early trades on Monday i.e. on Dec 18. Indications are still favorable but caution is advisable in stock selection, citing excessive volatility. We suggest not jumping into the trade and waiting for the markets to stabilize.
3:38 PM Metal shares gain, Nifty Metal up 2%
Source: NSE
3:36 PM Sectoral Trend
Source: NSE
3:34 PM Top Sensex Gainers and Losers
Source: BSE
3:33 PM Broader Markets
Broader markets outperformed the benchmark indices with both BSE Midcap and BSE Smallcap indices up over 1%
3:32 PM Markets at close
Benchmark indices gaiined ground on Friday as investors cheer after the exit polls that released their survey results at the end of the final phase of polling in Gujarat on Thursday evening predicted that the Bharatiya Janata Party (BJP) was set to retain Gujarat and wrest Himachal Pradesh from the Congress.
The S&P BSE Sensex ended at 33,462, up 216 points while the broader Nifty50 index settled at 10,333, up 81 points
3:21 PM Buzzing Stock
Maruti Suzuki India shares touched a fresh all-time high of Rs 9,237, rising 1.3 percent intraday after the global brokerage house raised target price sharply.
While maintaining a buy call on the stock, Citi has increased its price target to Rs 10,600 (from Rs 9,400 per share earlier), implying 16% upside from Thursday's closing price.
3:11 PM
Europe Trade
European stocks moved lower, with sentiment curbed by concerns over plans to overhaul the tax system in the US.
The pan-European Stoxx 600 was off by 0.21 percent with most sectors trading in negative territory.
2:59 PM
Buzzng Stock
Deepak Fertilizers and Petrochemicals Corporation shares gained 4% intraday after the Arbitration Tribunal has rejected GAIL's claim of Rs 357 crore against the company.
The Gas Authority of India had claimed the amount in respect of supply of domestic natural gas for period July 2006-May 2014, alleging usage for manufacture of products other than urea.
2:46 PM
H&M shares tumble on surprise quarterly sales drop
Fashion retailer H&M said on Friday sales had fallen during the last three months as fewer shoppers visited its stores, sending its shares plummeting and underlining its struggle to adapt to a shift of business online.
Shares in the world’s second largest fashion retailer fell 13 percent to their lowest level since 2009.
2:32 PM
Give your fund manager time to ride out current volatility
Currently, dynamic bond funds are displaying wide divergence in their average maturity, in the range of 1.60-13.52 years. With the benchmark 10-year government bond (G-sec) yield having touched a high of 7.19 per cent recently (compared to 6.41 per cent on July 24), one would expect managers of dynamic bond funds to reduce the duration of their funds.
READ MORE2:17 PM Top Sensex gainers and losers
Source: BSE
2:05 PM Market Check at 2pm
1:46 PM
Mahindra & Mahindra hits fresh 52-week high
Mahindra & Mahindra (M&M) hit a fresh 52-week high of Rs 1,480, up 3.3% on the BSE in noon deal trade, after the company announced that it plans to increase prices of its passenger and commercial vehicles by up to 3% with effect from January 1, 2018. The stock was the top gainer among the S&P BSE Sensex at 12:16 PM.
“We have been holding back on price hikes and absorbing the higher input costs for a while, but with the increase in commodity prices we will have to take a price increase,” Rajan Wadhera, President - Automotive Sector, M&M said on the price hike.
Meanwhile, the stock will turn ex-bonus on Thursday, December 21, 2017 in the proportion of 1:1, i.e. 1 bonus equity share for every 1 share held as on record date.
1:32 PM
HDFC Securities on L&T Infotech
We attended L&T Infotech’s (LTI) Analyst Day, and reiterate our positive hypothesis. Management’s FY18 revenue growth outlook is to surpass FY17’s revenue growth and PAT% guidance at 14 to 15%, supported by a stable operating margin. We expect revenue/EPS CAGR of 12/10% over FY17-20E. Revise EPS higher by 4/3% for FY19/20E, and maintain BUY with an increased target price of Rs 1,175, 16x Dec-19E EPS (13x earlier). Positives for the company include (1) A favourable delivery mix, (2) Industry-leading return ratios (highest in midcap IT), strong cash generation (100% FCF/PAT) and increasing payout, and (3) Strong leadership bandwidth.
1:29 PM Top Losers on BSE
(CLICK HERE FOR MORE)
1:22 PM
After Asia's uneven 2017 share rally, laggards may draw inflows
While Asia's equity rally this year has been uneven, fuelled by a few large cap and technology stocks, analysts believe money will start flowing into shares that have been overlooked.
Thomson Reuters data shows that the biggest 10 percent of listed Asian companies by market capitalization have accounted for 70 percent of this year's rally, with technology and financial stocks seeing the biggest gains.
CLICK HERE TO READ MORE1:17 PM
Bonds, rupee gain after Gujarat exit poll results
The rupee strengthened while bond yields inched lower on Friday morning after exit polls showed the country’s ruling alliance would win elections in the prime minister’s home state but caution remained ahead of the actual results.
1:07 PM Market Check
(Source: BSE)
1:05 PM
Renaissance Jewellery zooms 20% on robust Q2 results
Renaissance Jewellery was locked in upper circuit of 20% at Rs 275 on the BSE after the company reported more than doubled net profit at Rs 16.9 crore in September quarter (Q2FY18). It had profit of Rs 7.4 crore in the same quarter year ago.
Revenue of the company grew 34% at Rs 384 crore against Rs 286 crore in the corresponding quarter of previous fiscal. Ebitda (earnings before interest, taxes, depreciation and amortization) margin improved to 6.94% from 5.6% in previous year quarter.
For the first half (April to September) of the current financial year 2017-18 (FY18), the company has reported 95% year on year (YoY) growth in net profit at Rs 25.8 crore. Revenue grew 36% at Rs 760 crore on YoY basis.
12:43 PM Sectoral trend
Source: NSE
12:28 PM
$2-bn tax dispute: SC allows Vodafone to hire chairman for 2nd arbitration
The Supreme Court on Thursday allowed the government and Vodafone to appoint a chairman for the second arbitration initiated by the UK-based telecom major in connection with the $2 billion (approximately Rs 11,000-crore) tax dispute. The apex court, however, clarified that the proceedings shall wait till the final decision of the Delhi High Court on the matter by January 10.
The order of the Supreme Court came on an appeal by the Centre challenging the High Court order that asked it to participate in the second arbitration. The Vodafone Group had in 2014 initiated arbitration proceedings under the India-Netherlands Bilateral Investment Protection Agreement (BIPA) regarding the tax dispute and the proceedings in it are still going on.
READ MORE12:23 PM FII Investment Data
As on : 15 Dec 17 | 12:21 PM
|
Date
|
Gross Purchase
|
Gross Sale
|
Net Investment
|
Net Investment
|
|
|
(Rs cr) |
(Rs cr) |
(Rs cr) |
US $m at monthly
exchange ratio |
|
13 Dec 17 |
6,309.43 |
5,910.60 |
398.83 |
61.88 |
|
12 Dec 17 |
6,890.61 |
6,089.98 |
800.63 |
124.17 |
|
11 Dec 17 |
4,897.42 |
5,033.63 |
-136.21 |
-21.17 |
|
08 Dec 17 |
6,846.32 |
6,802.69 |
43.63 |
6.78 |
|
07 Dec 17 |
4,555.51 |
5,518.33 |
-962.82 |
-149.18 |
|
06 Dec 17 |
4,856.22 |
5,980.21 |
-1,123.99 |
-174.41 |
|
05 Dec 17 |
3,752.07 |
5,155.17 |
-1,403.10 |
-217.95 |
|
04 Dec 17 |
4,259.38 |
4,255.53 |
3.85 |
0.60 |
|
30 Nov 17 |
20,704.03 |
21,306.86 |
-602.83 |
-93.56 |
(CLICK HERE FOR MORE)
12:20 PM Index Movers
12:13 PM
Bitcoin points way to 'massive change' for commodity businesses
Blockchain is upending the world's financial markets with the rise of bitcoin, and now the digital-ledger system is poised to do the same next year for raw materials like food and energy.
Companies including BP, ABN Amro Group NV and Mercuria Energy Group said last month they will adapt blockchain to streamline physical energy transactions. In October, four banks joined a venture started by UBS Group AG and International Business Machines to use the technology in a platform for the global goods trade. Natixis SA and Trafigura Group announced in March they will employ the system to finance buying and selling oil.
READ MORE12:02 PM Market Check at 12
11:47 AM
Renaissance Jewellery zooms 20% on robust Q2 results
Renaissance Jewellery was locked in upper circuit of 20% at Rs 275 on the BSE after the company reported more than doubled net profit at Rs 16.9 crore in September quarter (Q2FY18). It had profit of Rs 7.4 crore in the same quarter year ago.
Revenue of the company grew 34% at Rs 384 crore against Rs 286 crore in the corresponding quarter of previous fiscal. Ebitda (earnings before interest, taxes, depreciation and amortization) margin improved to 6.94% from 5.6% in previous year quarter.
For the first half (April to September) of the current financial year 2017-18 (FY18), the company has reported 95% year on year (YoY) growth in net profit at Rs 25.8 crore. Revenue grew 36% at Rs 760 crore on YoY basis.
11:23 AM
SC extends all deadlines of Aadhaar linkages to March 31, 2018
The Supreme Court on Friday extended all deadlines of Aadhaar linkages to March 31, 2018 on the plea for interim relief on a batch of petitions seeking stay of various Central and state government notifications mandating the linking of Aadhaar with various schemes. The government had informed Supreme Court on Thursday about extending deadlines for all services.
READ MORE11:18 AM Stocks near all-time high
11:14 AM Most Active Stocks
» More on Most Active Value
11:12 AM
ANALYSIS: Near-term pressure for Tata Communications' data business
The monetisation of Tata Communications' surplus land is finally taking off, after the board of directors approved its transfer to a separate company, Hemisphere Properties. Minority shareholders will get a share in the new entity for every one held in Tata Communications (Tata Comm)
CLICK HERE FOR MORE11:10 AM Cong to take on Modi over charges against Manmohan as Winter Session begins GET ALL DETAILS HERE
Parliament
11:01 AM
HDFC Bank hits new high on fund raising plans
HDFC Bank hit a new high of Rs 1,887, up 2.7% on the BSE, after the private sector lender announced that its board will meet on Wednesday, December 20, 2017 to consider a proposal for raising of funds.
The stock surpassed its previous high of Rs 1,876.95 touched on October 24, 2017 in intra-day trade.
A meeting of the board of directors of the Bank will be held on 20th December, 2017 to inter alia consider a proposal for raising of funds by issue of equity shares/ depository receipts and other securities including through Qualified Institutions Placement (QIP)/ American Depository Receipts (ADRs) program, preferential allotment or such other methods or combinations as may be decided, as well as a preferential issue to Housing Development Finance Corporation (HDFC), the promoter of the bank, HDFC Bank said in a regulatory filing.
READ MORE10:43 AM Market Check
10:28 AM
Shalby makes weak debut, lists below issue price
Shalby, a multi-specialty hospital chain, has made a weak debut on the bourses by listing at Rs 237, a 4.4% below its issue price of Rs 248 per share on the BSE. On the National Stock Exchange (NSE), it opened 3% lower at Rs 240 in otherwise strong market. .READ MORE
10:15 AM
Adani Group stocks gain as exit polls predict BJP victory in Gujarat
Shares of all four listed companies of Adani Group rallied by up to 5% in early morning trade after the exit polls predict the Bharatiya Janata Party (BJP) victory in Gujarat.
Adani Enterprises, the flagship company of the Gujarat based Adani Group, was the largest gainer, up 5% to Rs 155 on the BSE in intra-day trade so far.
Adani Transmission,too, was up 5% at Rs 202, followed by Adani Power (4% at Rs 35.70) and Adani Ports and Special Economic Zone (up 3% at Rs 407).
READ MORE10:00 AM
HDFC invokes nearly 82 mn pledged Unitech shares
HDFC has sold 1.29 crore shares of Unitech in the open market and invoked nearly 82 million pledged shares of the crisis-hit realty firm.
HDFC Ltd has sold 1,29,19,566 shares carrying voting rights worth 0.49 per cent stake, and invoked 8,19,88,820 pledged shares worth 3.13 per cent stake, according to a regulatory filing.
Promoters hold 17.92 per cent stake in Unitech, of which 73 per cent is pledged, as per the shareholding pattern at the end of the second quarter of this fiscal.
READ MORE9:42 AM
Next year will be positive for equities, says Credit Suisse
Credit Suisse expects the Indian market to deliver positive returns in 2018; but, it has abstained from setting any targets for the Sensex or Nifty. The brokerage is forecasting low-teen growth in earnings for the next fiscal year (FY19), lower than the consensus estimate of 22 per cent. The markets, therefore, could deliver low-teen returns too, if valuations have to stay at current levels, said Neelkanth Mishra, managing director and India equity strategist at Credit Suisse.
Mishra said while the price-to-earnings (P/E) multiple is higher compared to historical averages, it is not expensive compared to global equities. The June quarter earnings results have turned out to be one of the best in three years, with aggregate earnings seeing no cuts, he said.
READ MORE9:30 AM Banks gain
Source: NSE
9:25 AM Sectoral Trend
Source: NSE
9:21 AM Top Sensex gainers and losers
Source: BSE
9:18 AM Broader Markets
In broader markets, both BSE midcap and BSE smallcap indices gained 1% each
9:17 AM Markets Open
Benchmark indices gaiined ground on Friday as investors cheer after the exit polls that released their survey results at the end of the final phase of polling in Gujarat on Thursday evening predicted that the Bharatiya Janata Party (BJP) was set to retain Gujarat and wrest Himachal Pradesh from the Congress.
At 9:17 am, the S&P BSE Sensex was trading at 33,538, up 293 points while the broader Nifty50 index was ruling at 10,342, up 90 points
9:13 AM
Singapore to start futures trading in Indian stocks
In what could be a major blow to the domestic derivatives market, the Singapore Stock Exchange (SGX) will soon launch trading in Indian single-stock futures on its platform. The Singapore bourse currently offers trading in Nifty index contracts, which are very popular among overseas investors.
The launch of single-stock futures could lead to further expansion of domestic financial markets, experts say.
According to sources, the National Stock Exchange (NSE) has expressed its concerns over the move; but, SGX has decided to go ahead with its plan.
READ MORE9:07 AM
Today's picks: 15 December, 2017
HPCL
Current price: Rs 437
Target price: Rs 445
Keep a stop at Rs 432 and go long. Add to the position between Rs 442 and Rs 443. Book profits at Rs 445.
TCS
Current price: Rs 2,557
Target price: Rs 2,515
Keep a stop at Rs 2,580 and go short. Add to the position between Rs 25,20 and Rs 2,530. Book profits at Rs 2,515.
9:04 AM
Top trading ideas by Prabhudas Lilladher:
BUY MAHINDRA & MAHINDRA
CMP: Rs 1,431.60
TARGET: Rs 1,510
STOP LOSS: Rs 1,380
The stock has been moving in an upward trend with a series of higher bottom formation pattern in the daily chart and technically is poised for further gains in the coming days. With the indicators looking favourable thus supporting our view of a positive bias, we anticipate a price rise in the stock and with decent volume participation witnessed, we recommend a buy in this stock for an upside target 1510 of keeping a stop loss of 1380
9:00 AM
Nifty outlook by Prabhudas Lilladher
Markets witnessed a volatile session to see a dip midway by way of profit booking activity but finally in the last leg of the session saw short covering to close on the positive side. The support for the day is seen at 10180 while resistance is seen at 10320.
8:57 AM
Chart check
One should wait for markets to sustain above 10330 in order to take a directional call. On the downside, 10200 – 10140 would be seen as key supports. Traders are advised to keep a close track of these crucial levels and should avoid taking undue risks.
(Source: Angel Broking)
8:56 AM
Shalby to list shares today
Multi-specialty hospital chain Shalby which recently concluded its Rs 504 crore initial public offering, will list its shares on NSE as well as BSE today. The IPO, which opened for subscription from December 5-7, was subscribed 2.8 times at a price band of Rs 245-248 per share.
8:55 AM
Market outlook for today
The market is seen opening higher in the early trade; almost all exit polls predicted more than 100 seats for the BJP in Gujarat where the party has been ensconced in power for close to two decades now. The polls also showed that the party is set to reclaim Himachal Pradesh. As per provisional figures, foreign institutional investors (FIIs)/ Foreign Portfolio Investors (FPIs) bought shares worth net Rs 232.17 crores on 14th December 2017. Domestic institutional investors sold shares worth Rs 374.21 crores on that day.
(Source: SMC Global)
8:52 AM
21st Century Fox deal to fast forward Walt Disney's India fortunes
Walt Disney Co’s acquisition of Rupert Murdoch’s 21st Century Fox Inc, except for some businesses, on Thursday will fundamentally change India’s TV broadcast landscape.
As part of the deal, the entire business of Star India, including entertainment and sports channels as well as the digital over-the-top channel Hotstar, will be transferred to Disney. Disney will also pick up the 20 per cent stake that Murdoch has in DTH operator Tata Sky.
CLICK HERE FOR THE FULL STORY
Walt Disney
8:50 AM
Winter session of Parliament
The winter session of Parliament will start today and continue till January 5, with 14 sittings of both Houses during the 21-day session. The proceedings will be keenly watched and market will take cue from the related developments.
8:50 AM
Outlook for bonds in 2018
For bonds, while we saw a year of positive returns in 2017 there is more nuanced outlook for 2018. The performance of government bonds will largely depend on the decisions of central banks, because bond prices fall when interest rates rise. However, HSBC expects interest rates in the US and Europe to increase little next year.
Conversely, corporate bond prices could suffer from rising interest rates, and could be hit as central banks end their bond-buying programmes. The main risk for bonds will be if central banks raise interest rates faster than the markets expect, which could cause bond values to fall, and shift the balance of the global economy to lower long-term levels.
(Source: HSBC Global Asset Management)
8:48 AM
Key risks for markets in 2018
The key risk to expectations for equities next year centre on the impact of a pick-up in inflation, or if growth remains very strong. In that situation it becomes more likely that central banks around the world, including the Fed, will have to be more aggressive about raising interest rates – though we do not believe this is the most likely scenario.
(Source: HSBC Global Asset Management)
8:48 AM
Market outlook for 2018
HSBC expects equities to continue performing well in 2018, and for emerging markets to outperform developed markets once again, as valuations for emerging market equities remain more attractive despite the strong rally in 2017. However, HSBC does not believe that developed market equities are overvalued and they still have a place in a globally-diversified portfolio.
(Source: HSBC Global Asset Management)
8:46 AM
Supreme Court to give interim order on Aadhaar related cases today
The Supreme Court on Thursday reserved its interim order for Friday on a batch of pleas seeking a stay on the government's decision of mandatory linking of Aadhaar with various welfare schemes, as the Centre extended the deadline up to March 31 next year.
A five-judge Constitution bench headed by Chief Justice Dipak Misra said the final hearing on the petitions challenging the Aadhaar scheme itself would commence from January 17 next year.
READ MORE
8:42 AM
Exit polls predict BJP victory in Gujarat and Himachal Pradesh
The exit polls that released their survey results at the end of the final phase of polling in Gujarat on Thursday evening predicted that the Bharatiya Janata Party (BJP) was set to retain Gujarat and wrest Himachal Pradesh from the Congress.
While survey agencies differed in their seat projections, nearly all predicted almost 100 or more seats for the BJP, with the party set to extend its 22-year rule in the state. Survey agencies also said the election, in the last phases, was focused on the leadership of Prime Minister Narendra Modi, and overcame the brewing anti-incumbency against the Vijay Rupani government and dissipated the anger that sections of Gujarati society had felt about specific local issues.
READ MORE8:36 AM
SGX Nifty
The Nifty50 futures on the Singapore Stock Exchange were trading 64 points higher at 10352 indicating a positive opening for the domestic market.
8:32 AM
Asian shares edged higher
Asian shares edged higher on Friday, on track for weekly gains, though sentiment was kept in check by Wall Street’s weakness on concerns about the progress of US tax reform.
MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.04% in early trade, poised to gain 1.2% for the week.
But Japan's Nikkei stock index slipped 0.8%, down 1.3% for the week, feeling the pinch of a stronger yen even amid fresh signs the economy is gathering momentum.
8:30 AM
US markets fall as investors fret about tax bill passage
Major US stock indexes fell on Thursday, with the S&P 500 down the most in a month, as investor worries over potential roadblocks to the Republicans’ tax overhaul more than offset optimism over strong retail sales data.
The Dow Jones Industrial Average fell 76.77 points, or 0.31%, to close at 24,508.66, the S&P 500 lost 10.84 points, or 0.41%, to 2,652.01 and the Nasdaq Composite dropped 19.27 points, or 0.28%, to 6,856.53.
8:22 AM Good Morning!
Welcome to market's live vlog. Catch all market action here
First Published: Fri, December 15 2017. 15:30 IST
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