Sensex, Nifty Sink In Last Hour Selloff On First Day Of 2018
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The dollar-rupee pair dropped 0.3 percent to 63.67 Monday after touching 63.65 earlier, the weakest level since August 2017.
The RBI last month announced raising investment limits for foreign investors in central government bonds for Jan.-March quarter by Rs 6,400 crore, and by Rs 5,800 crore in state government notes
Foreigners bought Rs 1.4 lakh crore worth of rupee bonds in 2017 and $7.7 billion of stocks, according to Bloomberg data.
The IPO consists of a fresh issue of up to 9.76 crore equity shares and an offer for sale of up to 1.40 crore equity shares by International Finance Corporation; and up to 75 lakh equity shares by IFC FIG Investment Company.
The equity shares are proposed to be listed on BSE and NSE.
JSW Energy terminates pact to acquire Jaiprakash Power's Bina Project.https://t.co/m0Om4KaVzS pic.twitter.com/9glFIjIy4k
— BloombergQuint (@BloombergQuint) January 1, 2018
The country’s largest lender reduced its base rates by 30 basis points to 8.65 percent effective today. The bank retained the 1-year MCLR at 7.95 percent.
Shares of the construction company rose 3.78 percent after it won a road order valued at Rs 583 crore from NHAI. Trading volume was 2 times its 30-day average while RSI was 72, indicating the stock may be overbought.
The stock has returned 72.2 percent over the past year versus 29.6 percent for S&P BSE Sensex index.
Shares of the country’s largest carmaker rose recovered early losses and rose 0.3 percent after reporting a 10.3 percent rise in December sales.
The automaker sold 130,066 units in December, compared to 119,286 in same period last year, the company said in a notification.
Exports, however, dipped 6.2 percent to 10,780.
Indian bonds rose for a second day on expectations the government will announce a new benchmark 10-year security for this week’s sale. The rupee dropped 0.1 percent to 63.8125.
The RBI will hold Rs 70,000 crore of 7-,14-, and 28-day reverse repo auctions.
HDFC Standard Life Insurance headed for a record as CLSA expected the firm to extend its share in the local market from its current 7 percent due to a“wide distribution network and innovative product suite.”
The broking firm expects the life insurer’s new premiums to rise 24 percent annually in the the four financial years through March 2020. It has kept a price target of Rs 455 on the stock.
Shares gain as much as 3.6 percent and were set for highest closing since their listing on Nov. 17.
Shares of Phoenix Mill rose as much as 5.24 percent after the company acquired a stake in its subsidiary.
The company has entered into a share purchase agreement with HBS Realtors for acquisition of entire 22.67 percent shareholding of HBS in Graceworks Realty & Leisure, a subsidiary of Phoenix Mill.
Twelve of the 19 sector gauges compiled by the BSE Ltd. rose, led by the S&P BSE Realty Index's 1.61 percent jump. On the flipside, S&P BSE TECK was the worst performer, down 0.35 percent.
Indian bonds trade with a negative bias on the first day of trade in 2018.https://t.co/m0Om4KaVzS pic.twitter.com/oaS5QhKDkO
— BloombergQuint (@BloombergQuint) January 1, 2018
- Nifty Jan Futures trading at 10,556.9, premium of 27 points versus 30 points.
- Jan Series- Nifty open interest up 5 percent and Bank Nifty open interest down 1 percent.
- India VIX ended at 12.6, up 3 percent.
- Max open interest for Jan series at 11,000 Call, open interest at 37 lakh, open interest up 10 percent.
- Max open interest for Jan series at 10,300 Put, open interest at 45.8 lakh, open interest up 37 percent.
- Nifty PCR at 1.61
- Nifty Bank PCR at 0.95 versus 0.94
F&O Ban
In Ban: HDIL, Jaiprakash Associates
New In Ban: HDIL, Jaiprakash Associates
Only intraday positions can be taken in stocks which are in F&O ban. There will be a penalty in case of a rollover of these intraday positions.
Put-Call Ratio
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- Eight infrastructure industries index for November (prior 4.7 percent)
- Leading automakers to announce car sales numbers
For more stocks to watch, click here
Commodity Cues
- West Texas Intermediate crude advanced 0.6 percent to $60.42 a barrel, the highest in more than two years.
- Gold climbed 0.6 percent to $1,302.80 an ounce, hitting the highest in 11 weeks with its eighth consecutive advance.
- Copper dipped 0.8 percent to $3.28 a pound, the first retreat in more than three weeks.
- The Bloomberg Commodity Index gained 0.1 percent to 87.79, hitting the highest in more than seven weeks with its twelfth straight advance.
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