Live Markets Live: Sensex closes up 269 points

 

Dec 28 | 3:45 pm

Sensex up 269 points at close

The Sensex settled at 36,076 at the close on Friday. This represented a gain of 269 points or 0.76 per cent higher than its previous close. The Nifty also closed firm at 10,859, a gain of 80 points or 0.74 per cent on its overnight close.

The top gainers on the 30-share benchmark index were Sun Pharma, Bajaj Finance, VEDL, YES Bank and ICICI Bank, while the laggards were TCS, Bajaj Auto, HeroMotoCorp, Bharti Airtel and Power Grid.

The Sensex closed Thursday's session at 35,807 points, up 157.34 points, or 0.44 per cent higher.

According to reports, the benchmark indices rode up on firm global cues, heavy foreign fund inflows and a strengthening rupee. The gains on Dalal Street were led by pharma, auto, realty and financial stocks.

Dec 28 | 3.25 pm

TRAI gives subscribers time till Jan 31 to migrate to new broadcast tariff order

TRAI has decided to give TV viewers time till January 31 to migrate to the new broadcast tariff order, in a bid to ensure a smooth transition to new subscription plans. Click here to read the full report on TRAI's decision on move to new broadcast tariff order

Dec 28 | 3.11 pm

PVR to raise Rs 750 cr, seeks shareholders’ nod

Multiplex chain operator, PVR, on Friday said it is planning to raise up to Rs 750 crore through issue of securities to qualified institutional buyers, for which it is seeking its shareholders’ nod. Read the full report on PVR's plans to raise funds here

Dec 28 | 2.15 pm

SAIL should focus on research, innovation: Steel Minister

 

In the last four years Steel Authority of India Ltd (SAIL) has provided steel for projects of national importance. But, it should also focus on research and innovation to keep pace with the changing times, Steel Minister, Chaudhary Birender Singh, said here on Friday. Read the full report on SAIL here

Dec 28 | 2.05 pm

Sensex extends gains

The Sensex extended its morning gains in the afternoon session on Friday. At 2.02 pm the Sensex was quoting at 36,162, up 355 points or 0.99 per cent higher than its overnight close. The Nifty was trading at 10,884, a gain of 104 points or 0.97 per cent higher.

The top gainers on the BSE Sensex were Sun Pharma, YES Bank, HDFC, ICICI Bank and VEDL. The laggards were Coal India, Hero MotoCorp and Bajaj Auto.

 

 

Dec 28 | 1.30 pm

Nifty Call: Buy on dips with stop-loss at 10,880

 

The Nifty January 2019 futures began the session on a positive note, opening at 10,850 and continued to trend upwards. The contract breached the key resistance at 10,900 and recorded an intra-day high at 10,941. The near-term outlook for the futures contract is bullish. Click here to read the full report on Nifty 50 January futures

Dec 28 | 1.15 pm

Sensex up 328 points at 36,135

The Sensex held on to its morning gains to quote at 36,135 in afternoon trade. This represented a gain of 328 points or 0.92 per cent higher than its overnight close. The Nifty also kept a firm undertone to trade at 10,878, up 98 points or 0.91 per cent higher on its previous close.

The top gainers on the 30-share benchmark index were SunPharma, YES Bank, VEDL, HDFC, and ICICI Bank.The laggards were Asian Paints, Bajaj Auto and Hero MotoCorp.

Dec 28 | 12.30 pm

Jharkhand submits report on starvation deaths

 

BusinessLine report on MGNREGA published on December 18 has spurred the Union Ministry of Rural Development into action. Citing the report, the Ministry has sought a clarification from Jharkhand’s Rural Development Department on the starvation deaths in the State, and the lack of access to MGNREGA jobs. The Jharkhand government on Wednesday submitted a detailed report to the Centre. Read the full BL Impact story here

Dec 28 | 12.25 pm

Ask bidders going on appeal to deposit up to 1% of loan amount: Banks to IBBI

 

There have been several delays in the resolution of stressed assets due to repeated appeals by bidders under the Insolvency and Bankruptcy Code (IBC). To curb this, banks have requested the Insolvency and Bankruptcy Board of India (IBBI) to introduce deterrent provisions in IBC rules. Read the full report on plans for deterrent provisions in IBC rules

Dec 28 | 12.20 pm

US govt shutdown set to drag on to 2019

 

The partial US government shutdown is all set to drag on to the new year as opposition Democrats and Republicans refused to show any sign of compromise Thursday to end the impasse over President Donald Trump’s demand for border wall funding. Read the full report on US govt shutdown here

Dec 28 | 12.15 pm

Tatas commit ₹70,000 cr to revamp group

 

Tata Sons has committed over ₹70,000 crore to restructure group companies in a bid to make them ready for future growth. Click here to read the full report on Tata revamp strategy

Dec 28 | 12.05 pm

Farm-loan waiver: With banks demanding repayment, States face a hard toil ahead

 

Following their farm-loan waiver promises, Uttar Pradesh and Telangana have fully paid the banks their dues, while Maharashtra and Punjab have paid them partially. Click here to read the full report on farm-loan waiver

Dec 28 | 11.50 am

Sensex surges 300 points to quote at 36,102

The Sensex vaulted nearly 300 points to quote at 36,102 near mid-session on Friday. The Nifty also kept a firm undertone to trade at 10,870, This represented a gain of 90 points or 0.84 per cent higher on its previous close.

The Sensex closed Thursday's session at 35,807 points, up 157.34 points, or 0.44 per cent higher.

With the exception of TCS, all the shares on the 30-share benchmark index were trading in the green at mid-session. The top gainers were SunPharma, YES Bank, HDFC, Tata Motors, and IndusInd Bank.

Sensex gainers and losers

 

The benchmark indices rode up on firm global cues, heavy foreign fund inflows and a strengthening rupee. The gains on Dalal Street were led by pharma, auto, realty and financial stocks.

Dec 28 | 11.20 am

Fiscal deficit touches 114% of Budget estimate in first 8 months of FY19

The Centre’s fiscal deficit has exceeded 114 per cent of the Budget estimate over the first eight months of the current fiscal. But the Finance Ministry is confident of limiting the deficit to the Budget estimate, which is about ₹6.24 lakh crore. or 3.3 per cent of the GDP. Click here to read the report on fiscal deficit in full.

Dec 28 | 11.00 am

Gold climbs as investors flock to safety

 

Gold inched higher on Friday to trade below a more than six-month high hit earlier this week, as concerns about slowing global economic growth and a partial government shutdown in the United States stoked safe-haven demand, although gains in equities capped the upside. Read the full report on gold price movements here

Dec  28| 10.45 am

SBI to conduct employee engagement survey

To become a better bank, State Bank of India (SBI) is planning to conduct an employee engagement survey, whereby it expects about 2.17 lakh officers and clerical staff to speak up and say what is on their mind. Read the full report on SBI employee engagement survey here

Dec  28| 10.35 am

Re at 70.05 to the dollar

A study on the rupee over the last 10 years indicates that the current recovery can extend further in the coming weeks   -  Muralinath

 

The rupee was trading at 70.05 to the dollar in the morning session on Friday. It hit a low of 70.1250 and a high of 69.96 in the morning session. Its last traded price was 69.97.

Dec 28 | 10.30 am

Broker's call: ICICI Bank (Long)

Equirus Securities

ICICI Bank (Long)

CMP: ₹355.05

Target: ₹435

11,24,281

ICICI Bank is India’s largest private sector bank with total consolidated assets of ₹11.24 lakh crore at March 31, 2018 and profit after tax of ₹6,777 crore for the year ended March 31, 2018. ICICI Bank currently has a network of 4,867 Branches and 14,367 ATMs across India. Read the Broker's Call on ICICI Bank in full here

Dec 28 | 10.25 am

Broker's call: Coal India (Hold)

 

Prabhudas Lilladher

Coal India (Hold)

CMP: ₹249.65

Target: ₹270

Coal India FYTD volume growth slowed to 5.5 per cent, while the growth in August-December 2018 was mere 1 per cent despite severe shortage of coal, led by improved demand from power sector and pick-up in economic activity. Read the Broker's Call on Coal India in full here

Dec 28 | 10.20 am

SEBI eases norm on name change

SEBI on Thursday came out with simplified rules for investors from Karnataka and Punjab regarding the procedure for name change in beneficial owner’s (BO) depository account. BO is a person who ultimately owns or controls a foreign portfolio investment. According to SEBI, one of the documents required for change of name in BO’s account with depositories for reasons other than marriage, is a document related to publication of the name change in the official gazette. As gazette notification is published only for government staff in these states, SEBI has relaxed the norm to accommodate private individuals.

Dec 28 | 10.15 am

Company news: Suven Life Sciences

Suven Life Sciences on Thursday informed the exchanges that it has been granted one product patent from Brazil and one product patent from Eurasia corresponding to new chemical entities. The patent products are for the treatment of disorders associated with neurodegenerative diseases such as Alzheimer’s, attention deficient hyperactivity disorder (ADHD), Parkinson’s, Huntington’s disease, and schizophrenia, among others. The patents are valid through 2023 and 2034, respectively. Shares of Suven Life jumped 2.74 per cent at ₹232.35 on the BSE on Friday.

Dec 28 | 10.10 am

Company news: Piramal Enterprises

The board of directors of Piramal Enterprises on Thursday approved the issue of secured non-convertible bonds up to ₹400 crore with an option to retain over-subscription of up to ₹200 crore, aggregating to a total issue size of ₹600 crore on private placement basis. The tenure of the instrument is 36 months and redemption will be on December 28, 2021, at par, it said in a statement to the exchanges. The bonds are proposed to be listed on the NSE, where its share price was at ₹2,314.40, up 1.03 per cent, on Friday.

 

Dec 28 | 10.05 am

Will Kansai Nerolac acquisition add colour?

Kansai Nerolac Paints has entered into a share purchase agreement (SPA) to acquire 100 per cent equity stake in Perma Construction Aids Pvt Ltd for a total consideration of ₹29.10 crore. This is subject to adjustments for borrowings, working capital and fixed assets as at the closing date (the day on which the transaction would be consummated). Perma Construction caters to the construction chemicals industry. The deal is likely to be completed by January 28, 2019.

Dec 28 | 10:00 am

Lemon Tree Hotels forms joint venture

Lemon Tree Hotels agreed to enter into a joint venture with Magnolia Grove Investment, an affiliate of Warburg Pincus group. The joint venture — Hamstede Living Pvt Ltd will construct, acquire, develop, operate and lease short- and long-stay real estate projects, with primary focus on student housing, co-living for working professionals/adults and multi-family users. It is a related-party transaction and is being entered at ‘arm’s length’ terms, it said.

Dec 28 | 9:55 am

Sensex surges nearly 300 points

The benchmark indices the BSE Sensex and the Nifty opened in positive territory on Friday. At 9.55 am the Sensex was quoting at 36,106 points, up 299 points or 0.55 per cent, while the Nifty was trading at 10,868, up 89 points or 0.83 per cent higher than its previous close.

The Sensex closed Thursday's session at 35,807 points, up 157.34 points, or 0.44 per cent higher.

The top gainers on the 30-share benchmark were Sun Pharma, IndusInd Bank, HDFC, YES Bank and ICICI Bank, while the laggards were NTPC and Coal India.

Sensex gainers and losers

PTI adds: The benchmark indices rode up on firm global cues, heavy foreign fund inflows and a strengthening rupee. The gains on Dalal Street were led by pharma, auto, realty and financial stocks.

According to Rahul Mishra, AVP (Derivatives), Emkay Global Financial Services, markets have been volatile through the month; state elections, global cues and crude oil price movements have kept the market busy.

However, the market has seen a good recovery since the Nifty hit the month’s low on state election result day. Global cues provided good resistance, he said.

The rupee, meanwhile, strengthened against the US dollar, up 30 paise at 70.05 a dollar from its previous close.

Brent crude, the international benchmark, was up 1.63 per cent at $53.59 per barrel.

On a net basis, foreign portfolio investors (FPIs) bought shares worth Rs 1,731.91 crore on Wednesday, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 663.00 crore, provisional data available with BSE showed.

Elsewhere in Asia, Japan’s Nikkei fell 0.47 per cent, Hong Kong’s Hang Seng was up 0.12 per cent, Kospi gained 0.66 per cent and Shanghai Composite Index rose 0.15 per cent in early trade.

On Wall Street, the Dow Jones Industrial Average index rose 260.37 points, or 1.14 per cent, to 23,138.82 in its previous session on Thursday.

Dec 28 | 9:50 am

‘Brokerages to grow at 5-10% in FY19’

 

Domestic brokerages are estimated to post moderate growth of 5-10 per cent in FY19 with estimated revenue at ₹19,500-20,000 crore, says a report from ICRA. Read more

Dec | 9:45 am

At ₹63,744 cr, fund-raising via capital market down 60% in 2018: Prime Data

 

Confirming SEBI concerns, funds raised from capital market this year was down 60 per cent this year at ₹63,744 crore from the all-time high of ₹1,60,032 crore logged in 2017. Read more

Dec 28 | 9.40 am

Brokers to hit back at NSEL with counter-petition in HC

A three-way fight is now on in the NSEL scam — broker-members of the now defunct exchange, investors and the bourse promoters. After NSEL went to the Bombay High Court (HC) seeking attachment of brokers’ assets, the latter too are seeking to move the HC against the spot exchange and its investors. They will file an intervention petition in the HC with regard to NSEL’s recent move, sources told BusinessLine. Read more

Dec 28| 9:35 am

Oil prices jump, but oversupply worries persist

 

Oil prices jumped as much as 3 per cent on Friday to win back a chunk of the ground they lost in the previous session, but growth in US crude stockpiles and ongoing concerns about the global economy kept markets under pressure. For more

Dec 28 | 9:30 am

Capital India Finance rights issue

Shares of Capital India Finance will remain in focus, as its rights issue, which opened on Thursday (December 27), will close on January 15, 2019. The company plans to raise about ₹248.75 crore by offering 3.45 crore shares for cash at a price of ₹72 a share. The entitlement ratio to the eligible shareholders is four shares for every five equity shares held as on the record date — December 19. Response to the issue will be closely monitored by shareholders.

Dec 28 | 9.25 am

Asian stocks gain on Wall St comeback

 

Asia stocks gained on Friday after Wall Street ended volatile trade in the green, adding to the big advances of the previous session, although lingering investor jitters helped support safe-haven currencies such as the yen. Read more

Dec 28 | 9:20 am

Yen and franc draw safe-haven bids

 

The safe-haven yen and the Swiss franc rose on Friday after a brief pullback earlier in the week, as renewed U.S.-China trade tensions and weaker-than-expected data in those two economies revived global growth fears. Read more

Dec 28 | 9:15 am

Opening Bell

The benchmark indices the BSE Sensex and the Nifty opened in positive territory on Friday. The Sensex was quoting at 36,005 points, up 197 points or 0.55 per cent, while the Nifty opened at 10,827, up 47.85 points or 0.44 per cent higher on its previous close.

Dec 28 | 9:05 am

Today's Pick: KNR Constructions (₹217.3): Buy

The stock of KNR Constructions jumped 5 per cent with extraordinary volume on Thursday, decisively breaking above the key resistance at ₹200. For the week, the stock has gained over 9 per cent backed with good volume. Investors with a short-term view can buy the stock at current levels. For more

 

Dec 28 | 9:00 am

Day Trading Guide for Friday, December 28, 2018

Given below are supports and resistances for Nifty 50 futures and seven key stocks that can help in your intra-day trading:

₹2106 • HDFC Bank

S1

S2

R1

R2

COMMENT

2090

2075

2120

2135

Fresh long positions are recommended with a tight stop-loss only if the stock rallies above ₹2,120 levels

 

₹657 • Infosys

S1

S2

R1

R2

COMMENT

650

643

665

675

Initiate fresh long positions with a stiff stop-loss if the stock rebounds up from ₹650 levels

 

₹279 • ITC

S1

S2

R1

R2

COMMENT

276

273

282

285

Make use of intra-day declines to buy the stock of ITC while maintaining a fixed stop-loss at ₹276 levels

 

₹149 • ONGC

S1

S2

R1

R2

COMMENT

146

143

153

156

Initiate fresh long positions with a stiff stop-loss if the stock of ONGC reverses higher from ₹146 levels

 

₹1120 • Reliance Ind.

S1

S2

R1

R2

COMMENT

1105

1090

1130

1145

Near-term view is bullish for the stock of RIL. Buy in dips with a tight stop-loss at ₹1,105 levels

 

₹291 • SBI

S1

S2

R1

R2

COMMENT

285

280

296

302

Initiate fresh long positions with a stiff stop-loss if the stock of SBI advances above ₹296 levels

 

₹1909 • TCS

S1

S2

R1

R2

COMMENT

1890

1870

1930

1950

Consider initiating fresh long positions with a fixed stop-loss only if the stock of TCS moves above ₹1,930 levels

 

10783 • Nifty 50 Futures

S1

S2

R1

R2

COMMENT

10735

10685

10834

10885

Initiate fresh long positions with a tight stop-loss if the contract rebounds up from 10,735 levels

 

S1, S2 : Support 1 & 2; R1, R2: Resistance 1 & 2. Read more

Published on December 28, 2018