Indices end at record high: Sensex up 286 pts, Nifty ends above 10950

Benchmark indices ended at all-time closing highs on Monday as Reliance Industries rallied after posting a record quarterly profit, while Oil and Natural Gas gained after saying it would buy a majority stake in Hindustan Petroleum Corp.

ONGC shares jumped as much as 6.3% to their highest in nearly a year after the explorer said it would buy a majority stake in state-run refiner HPCL for $5.8 billion, with analysts saying the premium paid was smaller than expected.
Meanwhile, Reliance gained as much as 2.5% after the company posted a record net profit in the third quarter after its telecoms business, Jio, turned in a profit for the first time.
Indian shares have been on a record-setting run, bolstered by a string of positive corporate results and recent government measures, including a cut in the goods and services tax for certain sectors.
Energy companies were among the top gainers, with the Nifty energy index climbing as much as 1.9%, its second straight session of gains..

3:38 PM IST IT shares gain: TCS up 4%

3:36 PM IST Nifty Bank ends at record high

3:35 PM IST Sectoral Trend

3:33 PM IST Sensex top gainers and losers

3:32 PM IST Markets at Close   Benchmark indices ended at all-time highs on Monday as Reliance Industries rallied after posting a record quarterly profit, while Oil and Natural Gas gained after saying it would buy a majority stake in Hindustan Petroleum Corp.   The S&P BSE Sensex ended at 35,798, up 286 points while the broader Nifty50 index settled at 10,966, up 71 points

3:22 PM IST Axis Bank hits 52-week high post Q3 results   Axis Bank has moved higher to its 52-week high of Rs 621, up 5% on BSE in afternoon deal, after the bank reported improved assets quality in October-December 2017 quarter (Q3FY18) sequentially.   “The Bank’s gross non-performing assets ratio (NNPA) reduced quarter on quarter (QOQ) from 5.90% to 5.28% and net NPA from 3.12% to 2.56%,” Axis Bank said in a statement. READ MORE  

3:20 PM IST Oil prices rise as Saudi Arabia says producers will cooperate beyond 2018   Oil prices climbed on Monday, pushed higher by comments from Saudi Arabia that cooperation between oil producers who are currently withholding supplies would continue beyond 2018.   Strong global economic growth and a drop in US drilling activity also supported crude, traders said. READ MORE

3:11 PM IST Investing in bitcoins? How India's crypto players are fighting to survive   “If the government can ban its own currency, it can, of course, ban any other currency, which it doesn’t have control over,” Sandeep Goenka, co-founder of Zebpay, one of the top cryptocurrency exchanges in India, said at a recent panel discussion on virtual currency such as bitcoins.   Indeed, the cryptocurrency universe in the country is staring at uncertainty like never before, as banks and payment gateway partners are increasingly withdrawing support. READ MORE

3:01 PM IST Indian economy improving; GDP to clock 7% in H2: Chanda Kochhar at WEF 2018   The Indian economy is seeing broad-based improvement across all sectors and should clock 7 per cent growth in the second half of the current fiscal, top banker Chanda Kochhar said today.   Here to participate in the World Economic Forum's (WEF) annual meeting, to be addressed by Prime Minister Narendra Modi and other world leaders, the ICICI Bank chief said the full fiscal GDP growth for 2017-18 should also be in excess of 6.5%. CLICK HERE FO FULL ARTICLE

2:46 PM IST India Inc's deal hunt will drive offshore bonds rush in 2018: Citi   Offshore bonds volumes from India are set to gather pace after a banner year as companies tap the lowest borrowing costs in a decade to pay for buying assets locally and abroad.   That’s the view of Citigroup Inc., which forecasts sales of debt denominated in US dollar, euro and yen in 2018 to be as good as last year when issuance totaled $15.6 billion, the highest in three years. READ MORE

2:36 PM IST Indian trading on London Stock Exchange registers 12.5% increase in 2017   The trading of Indian Global Depository Receipts (GDR) on London Stock Exchange showed a marked increase in 2017 compared to 2016, which experts said reflects enhanced investors' interest in one of the fastest growing major economies in the world.   The total value traded of Indian GDRs on the exchanges International Order Book was $4.12 billion last year, an increase of 12.5 per cent compared to 2016 which recorded $3.66 billion.   The exchange said that the hike reinforces Londons status as the most important international financial centre and India's funding partner of choice. READ MORE

2:15 PM IST Market Check   S&P BSE Sensex 35,678.17 0.47%   Nifty 50 10,937.35 0.39%   S&P BSE 200 4,816.90 0.31%   Nifty 500 9,760.05 0.38%   S&P BSE Mid-Cap 17,807.49 0.24%   S&P BSE Small-Cap 19,565.26 0.56%

LIVE UPDATES

IT shares gain: TCS up 4%



Nifty Bank ends at record high


Sectoral Trend


Sensex top gainers and losers


Markets at Close
 
Benchmark indices ended at all-time highs on Monday as Reliance Industries rallied after posting a record quarterly profit, while Oil and Natural Gas gained after saying it would buy a majority stake in Hindustan Petroleum Corp.
 
The S&P BSE Sensex ended at 35,798, up 286 points while the broader Nifty50 index settled at 10,966, up 71 points
Axis Bank hits 52-week high post Q3 results
 
Axis Bank has moved higher to its 52-week high of Rs 621, up 5% on BSE in afternoon deal, after the bank reported improved assets quality in October-December 2017 quarter (Q3FY18) sequentially.
 
“The Bank’s gross non-performing assets ratio (NNPA) reduced quarter on quarter (QOQ) from 5.90% to 5.28% and net NPA from 3.12% to 2.56%,” Axis Bank said in a statement. READ MORE

 

Oil prices rise as Saudi Arabia says producers will cooperate beyond 2018
 
Oil prices climbed on Monday, pushed higher by comments from Saudi Arabia that cooperation between oil producers who are currently withholding supplies would continue beyond 2018.
 
Strong global economic growth and a drop in US drilling activity also supported crude, traders said. READ MORE
Investing in bitcoins? How India's crypto players are fighting to survive
 
“If the government can ban its own currency, it can, of course, ban any other currency, which it doesn’t have control over,” Sandeep Goenka, co-founder of Zebpay, one of the top cryptocurrency exchanges in India, said at a recent panel discussion on virtual currency such as bitcoins.
 
Indeed, the cryptocurrency universe in the country is staring at uncertainty like never before, as banks and payment gateway partners are increasingly withdrawing support. READ MORE
Indian economy improving; GDP to clock 7% in H2: Chanda Kochhar at WEF 2018
 
The Indian economy is seeing broad-based improvement across all sectors and should clock 7 per cent growth in the second half of the current fiscal, top banker Chanda Kochhar said today.
 
Here to participate in the World Economic Forum's (WEF) annual meeting, to be addressed by Prime Minister Narendra Modi and other world leaders, the ICICI Bank chief said the full fiscal GDP growth for 2017-18 should also be in excess of 6.5%. CLICK HERE FO FULL ARTICLE
India Inc's deal hunt will drive offshore bonds rush in 2018: Citi
 
Offshore bonds volumes from India are set to gather pace after a banner year as companies tap the lowest borrowing costs in a decade to pay for buying assets locally and abroad.
 
That’s the view of Citigroup Inc., which forecasts sales of debt denominated in US dollar, euro and yen in 2018 to be as good as last year when issuance totaled $15.6 billion, the highest in three years. READ MORE
Indian trading on London Stock Exchange registers 12.5% increase in 2017
 
The trading of Indian Global Depository Receipts (GDR) on London Stock Exchange showed a marked increase in 2017 compared to 2016, which experts said reflects enhanced investors' interest in one of the fastest growing major economies in the world.
 
The total value traded of Indian GDRs on the exchanges International Order Book was $4.12 billion last year, an increase of 12.5 per cent compared to 2016 which recorded $3.66 billion.
 
The exchange said that the hike reinforces Londons status as the most important international financial centre and India's funding partner of choice. READ MORE
Market Check
 
S&P BSE Sensex 35,678.17 0.47%
 
Nifty 50 10,937.35 0.39%
 
S&P BSE 200 4,816.90 0.31%
 
Nifty 500 9,760.05 0.38%
 
S&P BSE Mid-Cap 17,807.49 0.24%
 
S&P BSE Small-Cap 19,565.26 0.56%

Globally, a double-digit correction long overdue, says Rupal Bhansali
 
Easy money has been reflating risk assets and the situation is likely to reverse, posing a risk to equity markets, says Rupal Bhansali, chief investment officer-global equities, Ariel Investments. Speaking during the CFA Society India’s 8th India Investment Conference, she cautioned investors to protect their portfolios by defensive positioning. CLICK HERE FOR FULL INTERVIEW

 

Reliance Industries, TCS, HDFC, HDFC Bank, Adani Ports hit new high
 
Reliance Industries (RIL), Tata Consultancy Services (TCS), Housing Development Finance Corporation (HDFC), HDFC Bank and Adani Ports and Special Economic Zone from the S&P BSE Sensex have hit their respective new high on BSE in intra-day trade today.
 
The benchmark Sensex touched a record high of 35,701 on BSE in early morning today.
 
APL Apollo Tubes, Biocon, Coffee Day Enterprises, DCM Shriram, Delta Corp, Godrej Consumer Products, Godrej Properties and Jubilant FoodWorks are among 20 stocks from the S&P BSE500 index touching their respective record highs today. READ MORE
Centre needs another Rs 4.2 trillion to meet FY18 indirect tax target
 
Even as the Centre appears confident of meeting the budgeted indirect tax collection target for FY18, analysis shows it would have to mop close to Rs 4.2 trillion in the last four months to meet the Budget Estimates.
 
In comparison, in the first eight months of the financial year, which ends on March 31, it is likely to have collected around Rs 5 trillion. The budgeted indirect tax collection target is Rs 9.26 trillion. READ MORE
Hop on to Eicher Motors' shares -best performing stock on Nifty 50: Goldman
 
Shares of Eicher Motors Ltd, which have soared almost 8,000% in the past decade, have hit a sweet spot, says Goldman Sachs Group Inc.
 
The stock is down 16% from its September 8 record of 33,483.95 rupees even as the broad market posted a fresh record. CLICK HERE OF FULL STORY

 

IT shares gain; TCS hits new high, crosses Rs 3,000 mark
 
Shares of information technology (IT) companies were continue at their upward movement with the sector giant Tata Consultancy Services (TCS) hit a new high crossing Rs 3,000 mark on BSE.
 
Besides TCS, Persistent Systems, Mindtree, Take Solutions, Tata Elxsi, Zensar Technologies, NIIT Technologies, Tech Mahindra and MphasiS were up in the range of 1% to 6% on BSE on Monday. READ MORE
Sebi to open consent doors for serious violations, cut burden of cases
 
The Securities and Exchange Board of India (Sebi) is broadening the scope of the consent mechanism to reduce the number of cases it is handling. According to sources, the regulator is planning to allow serious offences such as insider trading, front running, or fraudulent and unfair practices to be settled under the mechanism.
 
Sources privy to the development said Sebi would take a fresh look at the pricing formulae to decide the settlement amount under consent. READ MORE
Street signs: Infosys tops buyback price; Bond Street trumps Dalal Street
 
Infosys tops buyback price On Wednesday and Thursday last week, shares of Infosys surpassed the buyback price of Rs 1,150 less than a month after the technology giant concluded its Rs 130-billion share repurchase. However, on Friday, Infosys shares closed a little lower at Rs 1,143 on the BSE.
 
Shares of Infosys are up 10% this month. Post-buyback shareholding data shows, foreign portfolio investors have turned out to be more savvy investors, as their shareholding has increased by nearly 100 basis points (bps) during the December quarter. READ MORE
Six of 10 most valued firms add Rs 1 trillion in m-cap; TCS biggest gainer
 
The cumulative market valuation of six of the 10 most valued firms advanced by Rs 1,073.7 billion last week, helped by robust gains in TCS, HDFC and HDFC Bank.
 
The market capitalisation of Tata Consultancy Services zoomed Rs 348.1 billion to Rs 5,656.24 billion, emerging as the biggest gainer among the top-10 firms. READ MORE
Mad rush for QIPs: Are companies building war chests for stressed assets?
 
India Inc is making a dash to tap the primary market to raise funds by way of qualified institutional placements (QIPs) and initial public offerings (IPOs) before the financial year comes to a close. More than 40 companies have announced their intent to raise money funds through QIPs in the last three months.
 
The mop-up could total Rs 400-500 billion, roughly two-thirds the amount of Rs 611 billion raised last calendar year, estimates suggest. CLICK HERE FOR FULL STORY
Reliance Industries gains 3% post Q3 results
 
Reliance Industries (RIL) was up nearly 3% to Rs 954 on BSE in intra-day trade after the company reported a 25% rise in a consolidated net profit at Rs 94.23 billion for the October-December 2017 quarter (Q3FY18) with higher profitability in petrochemicals and its telecom venture Jio. The company had profit of Rs 75.33 billion during the quarter ended December 2016.
 
The consolidated net revenue of the company increased by 25.7% in Q3FY18 to Rs 998 billion, as against Rs 794 billion during the corresponding period in 2016. READ MORE
Q3 performance: What gives Reliance Jio an edge over defensive Airtel
 
Reliance Jio’s reported net profit for the quarter ending December 2017 at Rs 5.04 billion was more than the consolidated net profit of Bharti Airtel at Rs 3.05 billion, and this includes the latter's Africa, direct-to-home (DTH) and enterprise services businesses. While the challenger continues to gain subscribers at a frenetic pace and at higher average revenue per user (ARPU), Bharti Airtel’s on the defensive is trying to protect its share. Notably, customers at Reliance Jio are spending 25% more to avail its services as compared to Bharti Airtel. READ MORE
Investing in MFs: Here's how Budget 2018 could impact the bond market
 
“The safest way to get decent returns is via mutual funds.” I’ve heard versions of this statement from half-a-dozen friends in the last year. Most of them are invested in debt mutual funds as well as diversified equity funds. It’s true that there is no safer way to get a decent nominal return. A bank fixed deposits offers much less interest.
 
Real estate is in the doldrums. Gold has been almost flat through 2017. But that safety is relative. Everyone understands that equity funds carry risk but debt mutuals can also suffer loss of capital. READ MORE
Market Check
S&P BSE Sensex 35,570.33 0.17%
 
Nifty 50 10,889.20 -0.05%
 
S&P BSE 200 4,801.67 -0.01%
 
Nifty 500 9,715.70 -0.08%
 
S&P BSE Mid-Cap 17,734.06 -0.17%
 
S&P BSE Small-Cap 19,497.21 0.21%

Six affordable housing plays: Astral Poly, Symphony, Kajaria, and more
 
Affordable housing is among the star themes for 2018. There are two ways to explore this theme — buying real estate stocks or those in ancillary sectors such as home improvement and housing finance. While the former could help investors take a direct plunge in the sector, the latter broad bases the portfolio and insulates it if the theme doesn’t pan out as expected. The latter, to some extent, also shields investors from the risks of uneven distribution of earnings and vulnerability of knee-jerk stock market movements, which realty stocks are often exposed to. 
 
Kajaria Ceramics, Century Plyboards, and Symphony, which are market leaders in their respective segments and at the cusp of benefiting from capacity additions, could be worthy investments. A shift in preference from unorganised to organised players is yet another common thread connecting these companies. However, there are some risks too. The recent data from the Reserve Bank of India shows a surge in bad loans in the sub- Rs 1 million housing loan segment. Similarly, any reduction in government subsidies could slow growth rates. For now, the potential gains far outweigh the risks. READ MORE
 

Apollo Micro makes stellar debut; lists at 74% premium against issue price
 
Apollo Micro Systems made a stellar debut by listing at Rs 478, a 74% premium against its issue price of Rs 275 per share on BSE.
 
Apollo Micro Systems' Rs 1.56-billion initial public offer (IPO) saw huge oversubscription of 248 times between January 10 and January 12. READ MORE
Sensex at 35,000: Existing investors should take some profit off the table
 
The BSE Sensitive index, or Sensex, has hit a purple patch. With the market breaching new highs, at over 35,000 points currently, stock market investors have seldom had it so good.
 
But, when the going is so good, it is also the time to be more diligent. Most investment experts, therefore, are striking a cautious note. Existing investors should take some profit off the table: This is the first advice of investment experts. CLICK HERE FOR FULL STORY


ONGC surges 6% on acquisition of 51.11% stake in HPCL
 
Oil and Natural Gas Corporation (ONGC) has surged 6% to Rs 206 on BSE in early morning trade after the state-owned oil exploration company announced that it will acquire the 51.1% government stake in Hindustan Petroleum Corporation (HPCL) at a cost of Rs 369.15 billion.
 
ONGC will acquire the government stake in HPCL by paying Rs 473.97 per share which works out to a 14% premium to HPCL’s closing market price of Rs 417 on Friday, 19 January. ONGC is likely to be exempt from issuing an open offer and expects to complete this deal by the end of January 2018. READ MORE

 

Earnings Impact: RIL


Earnings Impact: Wipro


Sectoral Trend


Sensex top gainers and losers


Markets at open

At 9:17 am, the S&P BSE Sensex was trading at 35,605, up 93 points while the broader Nifty50 index was ruling at 10,903 up 8 points
Key trading ideas by Devang Shah
 
M&M- BUY
CLOSE – Rs 764 
TARGET – Rs 782/800
 
AXIS BANK-BUY 
CLOSE – Rs 590 
TARGET – Rs 625

Click here for more
Nifty outlook by Devang Shah
 
Short-term outlook for the market remains positive till Nifty trades above 10,490 levels and expecting target of 10,950-11,000 levels in short term. Medium term outlook for the market remains positive till Nifty trades above 8,968 levels and expecting targets in the range of 12000-12200 levels in medium term.
 
10,700-11,000 levels is strong support & resistance levels respectively based on option open interest data so far for expiry next week. Market will remain volatile ahead of expiry & budget event next month. Any kind of short term correction or consolidation is buying opportunity for medium to long term Investment perspectives till medium term reverses.
Few trading ideas by Prabhudas Lilladher:
 
BUY BIOCON
CMP: Rs 569.35
TARGET: Rs 615
STOP LOSS: Rs 540
 
The stock has been consolidating for quite some time at around 540 levels and now has given a breakout above that range and indicates a positive bias with potential and strength to scale further in the coming days. It has also closed above the significant moving average of 34WMA. Click here for more
Nifty outlook by Prabhudas Lilladher:
 
The trend of the market has been intact as in spite of all the choppiness Nifty has held on to the support levels with many stocks continuing to make new highs, also Bank Nifty continuing to make new high approaching 27,000 levels. The support for the week is seen at 10,700 while the resistance would be at 11,060 levels. Being the expiry week of the F&O segment, we can anticipate volatility.
Q3 earnings off to a good start; combined net profit of 130 firms up 16.5%
 
The third-quarter (Q3) earnings season has started on a positive note for Corporate India, with the combined net profit of 130 early bird companies up 16.5 per cent on a year-on-year (YoY) basis, growing at the fastest pace in the last seven quarters.
 
Combined net sales were up 12.6 per cent YoY during the October-December 2017 quarter, growing at the fastest pace in the last three quarters. READ MORE
Jio, petrochemicals power RIL's Q3 show, net profit rises 25% to Rs 94.2 bn
 
Oil-to-telecom conglomerate Reliance Industries Ltd (RIL) on Friday reported a 25.1 per cent rise in net profit for the October-December 2017 quarter with higher profitability in petrochemicals and its telecom venture Jio reporting its first profit of Rs 5.04 billion.
 
The Mukesh Ambani-led conglomerate, at a consolidated level, posted a net profit of Rs 94.23 billion during the quarter under review, as against Rs 75.33 billion during the quarter ended December 2016.
 
The consolidated net revenue of the company increased by 25.7 per cent during the third quarter of 2017 to Rs 998.10 billion, as against Rs 794.08 billion during the corresponding period in 2016. READ MORE
Apollo Micro Systems to debut on bourses today
 
Apollo Micro Systems will debut on the bourses on Monday. The issue price for its initial public offer was Rs 275 per share. Shares of the company will be listed on NSE and BSE. Aryaman Financial Services was the book running lead manager to the offer.
Budgetary support for Indian Railways to be cut by 27% in FY18
 
The Union government has cut budgetary support to the Indian Railways by Rs 150 billion for the financial year 2017-18.
 
Hence, the national transporter is set to rely on borrowings, asset monetisation, and internal generation so that it does not fall short of the capital expenditure (capex) target of Rs 1.31 trillion for the fiscal year. Union Finance Minister Arun Jaitley had earmarked gross budgetary support (GBS) of Rs 550 billion for the railways but, faced with a revenue squeeze, various departments have been told that government support will have to be reduced. READ MORE
Budget 2018 may not be populist, indicates PM Modi
 
Prime Minister Narendra Modi indicated that the upcoming Budget will not be a populist one and it's a myth that the common ma n expects "freebies and sops" from the government.
US government shutdown begins as spending bill fails in Senate
 
The US government shut down at midnight on Friday after Democrats and Republicans, locked in a bitter dispute over immigration and border security, failed to agree on a last-minute deal to fund its operations.
 
In a late-night session, senators blocked a bill to extend government funding through February 16. The bill needed 60 votes in the 100-member Senate but only 50 supported it,
SGX Nifty
 
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 6.5 points or 0.06%.
Asian Markets edged lower

Financial markets in the United States and Asian stocks took a knock early on Monday after the US government was forced to shut down amid a dispute between President Donald Trump and Democrats over immigration.
 
MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.2% while Japan's Nikkei was down 0.1%.
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