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Sensex, Nifty Consolidate As Investors Look For Fresh Triggers

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Sensex, Nifty Consolidate As Investors Look For Fresh Triggers
A monitor shows stocks rallying while a trader talks on a phone on the trading floor of the Motilal Oswal Financial Services Ltd. office in Mumbai, India (Photographer: Vivek Prakash/Bloomberg)  
8 years ago
The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index's performance in India, fell 0.1 percent to 10,456 as of 8:40 a.m.Stocks in Asia opened lower after U.S. equities dipped in the wake of congressional passage of U.S. tax cuts, suggesting investors see the growth-boost narrative from the corporate and individual rate reductions as having played out. Besides, Bank of Japan keeps rates unchanged at -0.100 percent.
Dec 21, 2017 15:49 (IST)
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Dec 21, 2017 14:25 (IST)
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Dec 21, 2017 15:00 (IST)
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Shares of the Anil Ambani-led Reliance Infrastructure rose as much as 6.8 percent to Rs 498 and Adani Transmission advanced as much as 10 percent to Rs 225.30. Reliance Infrastructure has signed an agreement with Adani Transmission for 100 percent sale of its integrated Mumbai power business, Reliance Infrastructure said in a press release.

Total deal is valued at Rs 13,251 crore, comprising of business valued at Rs 12,101 crore and approved regulatory assets of Rs 1,150 crore, the press release added.

Dec 21, 2017 14:25 (IST)
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Shares of the Hyderabad-based road construction company rose as much as 2.9 percent to fresh 52-week high of Rs 221 after it won order worth Rs 1,339 crore for construction of ring road and bypass around Jammu city, the company said in a stock exchange notification.

Dec 21, 2017 13:35 (IST)
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Dec 21, 2017 13:32 (IST)
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  • Motherson Sumi: The Noida-based auto component maker fell 2.36 percent to Rs 376. Trading volume was more than 13 times its two-week average.
  • Man Infraconstruction: The Mumbai-based infrastructure construction company rose 3.86 percent to Rs 65.85. Trading volume was 19 times its two-week average.
  • Ultramarine & Pigments: The Chennai-based specialty chemical firm rose 0.8 percent to Rs 295.70. Trading volume was 12 times its two-week average.
  • IFCI: The Delhi-based NBFC rose 13.2 percent to Rs 27. Trading volume was 6.4 times its two-week average.
Dec 21, 2017 13:03 (IST)
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Dec 21, 2017 12:55 (IST)
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The NSE Nifty Bank Index was trading on a flat note ahead of weekly expiry of derivative contracts. The Nifty Bank Index fell 0.13 percent to 25,558. Axis Bank, Federal Bank, Yes Bank and ICICI Bank were among the top losers from the banking space.

Dec 21, 2017 12:47 (IST)
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Dec 21, 2017 12:47 (IST)
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Shares of the Delhi-based drug maker rose as much as 16.5 percent to fresh 52-week high of Rs 35.3 after the U.S. drug regulator cleared its bulk drug Montelukast Sodium. The U.S. FDA approval gives Morepen entry into Rs 2,000 crore U.S. market for Monetelukast, the company said in a stock exchange filing.

Dec 21, 2017 12:11 (IST)
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Dec 21, 2017 12:10 (IST)
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  • Indian equity benchmarks were trading in a narrow range as gains in Larsen & Toubro and HDFC were offset by losses in Mahindra & Mahindra, Infosys and ICICI Bank.
  • The S&P BSE Sensex was little changed at 33,768 and the NSE Nifty 50 Index was little changed at 10,444. Meanwhile, the mid cap and small cap shares were outperforming their larger peers. The S&P BSE MidCap Index rose 0.5 percent and the S&P BSE SmallCap Index advanced 0.8 percent.
  • Fourteen out of 19 sector gauges compiled by BSE were trading higher led by the S&P BSE Capital Goods Index's 1.4 percent gain. On the flipside, the S&P BSE Auto Index was the top sectoral loser, down 0.5 percent.
  • From the Nifty 50 basket of shares, 26 were advancing while 24 were declining.
Dec 21, 2017 11:32 (IST)
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Dec 21, 2017 11:19 (IST)
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Shares of the infrastructure construction company rose as much as 20 percent to Rs 5.05 after it entered into an agreement with Cube Highways and Infrastructure for sale of entire stake in two subsidiaries Salem Tollways and Kumarapalayam Tollways, IVRCL said in a stock exchange notification.

Dec 21, 2017 11:01 (IST)
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Dec 21, 2017 10:57 (IST)
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Shares of the companies whose managements were accused in 2G Spectrum Scam rose in an otherwise subdued session after a special CBI court acquitted all accused in the 2G Spectrum Scam.

  • Unitech up 15 percent at Rs 8.17
  • Reliance Communications gains 4.2 percent to Rs 17.99
  • DB Realty surges 20 percent to Rs 43.70
  • Sun TV Network rises 4 percent to Rs 978

Dec 21, 2017 10:47 (IST)
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Dec 21, 2017 10:45 (IST)
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Shares of the Gurugram-based Pepsi bottler rose as much as 10 percent to fresh 52-week high of Rs 590 after the company informed stock exchanges that it plans to acquire PepsiCo India's franchised sub territory in Jharkhand along with facilities and franchise rights for Chhattisgarh.

Dec 21, 2017 10:08 (IST)
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Dec 21, 2017 10:19 (IST)
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Shares of Reliance Nippon Life Asset Management Ltd. rose as much as 4.8 percent to Rs 287.95. The stock could reach Rs 325 in a year, international research firm CLSA said.

The target price implies a potential upside of 16 percent from the current market price. It is the highest price target on the company so far, among the analysts tracked by Bloomberg. The research firm initiated its coverage on the Asset management company with a 'Buy' rating.

Dec 21, 2017 10:08 (IST)
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Saswata Guha, director of financial institutions at Fitch Ratings India speaks to BloombergQuint.

Key highlights form the conversation:

  • PSB fundraising has come at the fag end of Basel.
  • We have been carrying a negative outlook on the sector for a long time.
  • The negative outlook on PSU banks has now reduced.
  • There are green shoots in some sectors.
  • Banks are probably just preparing themselves.
  • Expect rebound in growth after 3-4 quarters.
  • Banks are looking at SME space more actively now than in the past.
  • The story of private banks and NBFCs gaining market share from PSBs to continue over the next year as well.
  • Private banks now in a more advantageous position with the capital raise.
  • Expect 30-50 percent increase in provisioning levels for banks on Ind-AS implementation.
  • Have been concerned on some of the banks under RBI's Prompt Corrective Action.
  • Govt increasingly serious about right-sizing the sector.

Dec 21, 2017 09:53 (IST)
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  • GST has improved efficiency of transport vehicles.
  • Like GST, e-way bill will be positive in long run.
  • Overloading Will start getting checked once e-way bill comes in.
  • e-way has been there in select states for select commodities.
  • UP, Rajasthan markets are doing well due to lower truck overloading.
  • December promises to be good but will have to wait and watch.
  • December could be reasonably good month for vehicle sales.
  • Expect a good fourth quarter this time.
  • Unfortunately few players are looking at pricing factor to drive sales but we are not in this race.
  • Will not shy from getting market share, but will balance on product pricing front.
  • Have added 8-10 percent in market share in the last few years.
Dec 21, 2017 09:37 (IST)
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Key highlights from the conversation:

  • Expect growth to pick up and earnings growth to follow.
  • See inflation returning, GDP growth at 7 percent.
  • Spending money before election has been an unsaid norm.
  • Expect centre funded pro-poor spending by state government.
  • Margin pressure was seen in auto ancillaries.
  • Expect cyclicals to do well in case of a recovery.

Dec 21, 2017 09:33 (IST)
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Dec 21, 2017 09:23 (IST)
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Dec 21, 2017 09:15 (IST)
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Dec 21, 2017 08:02 (IST)
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Dec 21, 2017 08:02 (IST)
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Dec 21, 2017 08:02 (IST)
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Dec 21, 2017 08:02 (IST)
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Dec 21, 2017 08:02 (IST)
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Dec 21, 2017 08:02 (IST)
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  • Astron Paper & Board Mill subscribed 242 times on final day.
Dec 21, 2017 08:02 (IST)
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Dec 21, 2017 08:02 (IST)
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Dec 21, 2017 08:02 (IST)
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Dec 21, 2017 08:02 (IST)
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Dec 21, 2017 08:02 (IST)
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Dec 21, 2017 08:02 (IST)
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Dec 21, 2017 08:02 (IST)
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