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.
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
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
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
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.
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
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.
Jharkhand submits report on starvation deaths
A 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
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
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
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
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
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.
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.
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
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
Re at 70.05 to the dollar
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.
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
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
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.
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.
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.
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.
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.
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.
‘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
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
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
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
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.
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
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
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.
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
₹657 • Infosys
₹279 • ITC
₹149 • ONGC
₹1120 • Reliance Ind.
₹291 • SBI
₹1909 • TCS
10783 • Nifty 50 Futures
S1, S2 : Support 1 & 2; R1, R2: Resistance 1 & 2. Read more
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