Sensex ends 244 pts lower, Nifty below 10,450; banks, IT, auto fall

The benchmark indices fell over 200 points amid sell off on the first day of the new year led by losses in banks, IT and auto stocks.

 
Meanwhile, The Insolvency and Bankrutpcy Code (Amendment) Bill, 2017, that debars wilful defaulters and existing promoters from bidding for stressed assets of companies undergoing insolvency proceedings, was passed in the Lok Sabha on Friday.

Auto stocks were in focus as auto firms start disclosing monthly sales numbers for December 2017. 

Meanwhile, Overseas investors have pulled out close to Rs 5,900 crore from domestic equities this month, with widening fiscal deficit and higher crude prices making market participants cautious on macro-economic front. In spite of December performance, foreign portfolio investors (FPIs) ended the year with a net inflow of over Rs 51,000 crore.

3:44 PM IST IT stocks decline, TCS top loser among pack Source: NSE

3:42 PM IST Auto stocks in focus Source: NSE

3:40 PM IST Sectoral Trend Source: NSE

3:38 PM IST Top Sensex gainers and losers Source: BSE

3:36 PM IST Markets at close The S&P BSE Sensex e nded the day at 33,812, down 244 points while the broader Nifty50 ended the day at 10,435, down 95 points

3:17 PM IST IndusInd Bank raises Rs 3,193 cr from overseas lenders to expand business   IndusInd Bank on Monday said it has raised $500 million (about Rs 3,193.75 crore) term loan from overseas lending bodies to expand its business.   The private sector bank has concluded the syndicated term loan facility from a group of overseas investors, it said in a regulatory filing.   The fundraising, along with the funds raised during the ongoing financial year from multilateral institutions ADB and OPIC, will help the bank expand its lending to clients, it said. READ MORE

3:07 PM IST Auto sales Auto major Mahindra and Mahindra (M&M) reported an 8% increase in total sales at 39,200 units in December.   It had sold 36,464 units in the same month previous year, M&M said in a statement.

2:55 PM IST Buzzing Stock   Share price of Phoenix Mills rose 6 percent intraday Monday as it has acquired 22.67% stake in its subsidiary company.   The company has entered into a share purchase agreement (SPA) with HBS Realtors (HBS) and Graceworks Realty & Leisure (GRLPL) on December 29, 2017 for acquisition of entire 22.67 percent shareholding of HBS in GRLPL, a subsidiary of the company.

2:45 PM IST Maruti auto sales   The country's largest car maker Maruti Suzuki India (MSI) today reported 10.3% increase in total sales at 1,30,066 units in December 2017 compared to 1,17,908 units in the same month of 2016.   The company's domestic sales stood at 1,19,286 units, up 12.1%from 1,06,414 units in December 2016, MSI said in a statement.

2:32 PM IST Buzzing Stock   Shares of Bank of India added nearly 5% intraday Monday as it has received fund from government of India.   The bank has received infusion of Rs 2257 crore from Government of India in the form of common equity tier- 1 capital, which is being kept as share application money and would be allotted after following due procedure/conditions for allotment.

2:09 PM IST Markets check Index Current Pt. Change % Change   S&P BSE SENSEX 34,030.63 -26.20 -0.08   S&P BSE SENSEX 50 10,971.60 -8.18 -0.07   S&P BSE SENSEX Next 50 37,036.91 +187.53 +0.51   S&P BSE 100 11,032.33 +2.55 +0.02   S&P BSE Bharat 22 Index 3,784.78 +12.53 +0.33 Source: BSE

1:48 PM IST Buzzing stocks   Shares of Anil Ambani led Reliance Group (ADAG) companies continued their upward journey and rallied by up to 28% on the BSE on the back of heavy volumes in an otherwise subdued market.   Reliance Power, Reliance Home Finance, Reliance Naval and Engineering and Reliance Capital were up more than 4% each. On comparison, the S&P BSE Sensex was trading 5 points lower at 34,052 at 12:45 PM. Reliance Power and Reliance Nippon Life Asset Management have hit their respective 52-week highs on the BSE in intra-day trade. READ MORE

LIVE UPDATES

IT stocks decline, TCS top loser among pack

Source: NSE

Auto stocks in focus

Source: NSE

Sectoral Trend

Source: NSE

Top Sensex gainers and losers

Source: BSE

Markets at close

The S&P BSE Sensex e nded the day at 33,812, down 244 points while the broader Nifty50 ended the day at 10,435, down 95 points
IndusInd Bank raises Rs 3,193 cr from overseas lenders to expand business
 
IndusInd Bank on Monday said it has raised $500 million (about Rs 3,193.75 crore) term loan from overseas lending bodies to expand its business.
 
The private sector bank has concluded the syndicated term loan facility from a group of overseas investors, it said in a regulatory filing.
 
The fundraising, along with the funds raised during the ongoing financial year from multilateral institutions ADB and OPIC, will help the bank expand its lending to clients, it said. READ MORE
Auto sales

Auto major Mahindra and Mahindra (M&M) reported an 8% increase in total sales at 39,200 units in December.
 
It had sold 36,464 units in the same month previous year, M&M said in a statement.
Buzzing Stock
 
Share price of Phoenix Mills rose 6 percent intraday Monday as it has acquired 22.67% stake in its subsidiary company.
 
The company has entered into a share purchase agreement (SPA) with HBS Realtors (HBS) and Graceworks Realty & Leisure (GRLPL) on December 29, 2017 for acquisition of entire 22.67 percent shareholding of HBS in GRLPL, a subsidiary of the company.
Maruti auto sales
 
The country's largest car maker Maruti Suzuki India (MSI) today reported 10.3% increase in total sales at 1,30,066 units in December 2017 compared to 1,17,908 units in the same month of 2016.
 
The company's domestic sales stood at 1,19,286 units, up 12.1%from 1,06,414 units in December 2016, MSI said in a statement.
Buzzing Stock
 
Shares of Bank of India added nearly 5% intraday Monday as it has received fund from government of India.
 
The bank has received infusion of Rs 2257 crore from Government of India in the form of common equity tier- 1 capital, which is being kept as share application money and would be allotted after following due procedure/conditions for allotment.
Markets check

Index Current Pt. Change % Change
 
S&P BSE SENSEX 34,030.63 -26.20 -0.08
 
S&P BSE SENSEX 50 10,971.60 -8.18 -0.07
 
S&P BSE SENSEX Next 50 37,036.91 +187.53 +0.51
 
S&P BSE 100 11,032.33 +2.55 +0.02
 
S&P BSE Bharat 22 Index 3,784.78 +12.53 +0.33

Source: BSE
Buzzing stocks
 
Shares of Anil Ambani led Reliance Group (ADAG) companies continued their upward journey and rallied by up to 28% on the BSE on the back of heavy volumes in an otherwise subdued market.
 
Reliance Power, Reliance Home Finance, Reliance Naval and Engineering and Reliance Capital were up more than 4% each. On comparison, the S&P BSE Sensex was trading 5 points lower at 34,052 at 12:45 PM. Reliance Power and Reliance Nippon Life Asset Management have hit their respective 52-week highs on the BSE in intra-day trade. READ MORE
Market outlook by Kotak Institutional Equities
 
CY2017: It’s not coming back. 
 
The Indian market’s (Nifty-50 Index) 29% return in CY2017 sets a high bar for CY2018, especially as a large part of our 23% growth in net profits for FY2019 may be largely discounted in the market’s current high valuations. The market’s performance in CY2018 will largely depend on (1) FY2019E earnings being met (largely discounted) and (2) continued confidence in FY2020E earnings as domestic and global macro-environment factors may be less favorable than in CY2017.
Domestic, global flows are expected to stay favourable in early 2018
 
Benchmark indices gained about 28-29 per cent in 2017, their best yearly performance in three years. The gains came despite corporate earnings disappointing and the economy growing at a sluggish pace. Many stocks saw their valuations get re-rated, taking multiples way above their historic averages. This was made possible by the highest-ever investments by domestic mutual funds (MFs) and supportive global portfolio flows. READ FULL STORY
Gayatri Projects hits 52-week high
 
Gayatri Projects hits 52-week high of Rs 235, up 4% on the BSE, after the company announced it has bagged a new order of Rs 583 crore contract from National Highways Authority of India (NHAI).
 
The order is for rehabilitation and uprgadation of Cuttack-Angul Section of NH-42 (NEW NH-55) to 4-lane (km. 0+400 to k.m.60+200) in the state of Odisha under NHDP Phase-III on EPC Mode, pkg-1, Gayatri Projects said in a statement. READ MORE


Ten stocks that will offer best growth and value in new year 2018
 
Year 2017 was good for the market, with the Nifty gaining 29 per cent, largely on the back of sentiment or price-earnings expansion, rather than an uptick in earnings. This, however, could change with brokerages expecting a healthy growth in earnings in 2018, driven by policy reforms and a revival in private capital expenditure.
 
Clean-up of the distressed assets, revival of rural demand on the back of normal monsoons and farm loan waivers, and higher infrastructure spending should help consumption and macro-driven sectors, such as financial, automobiles, fast-moving consumer goods and infrastructure among others. CLICK HERE FOR DETAILS
Interview of the day
 
Entering into the new year, SHANKAR SHARMA, vice chairman and joint managing director at First Global tells Business Standard that investors should ignore all the noise around elections, policies of global central banks, global macros, etc and spend some time researching stocks before and do bottom-up stock picking.
 

Buzzing stocks 
 
Shares of real estate companies DB Realty and Unitech surged upto 18%, extending their rally in past eight trading sessions in otherwise range-bound market. These stocks hit their respective 52-week highs on the BSE in intra-day trade.
 
DB Realty was locked in upper circuit of 10% at Rs 63.40 on the BSE, after the real estate developer said its promoter increased their holding in the company through open market purchase. CLICK HERE FOR FULL REPORT
Gallant Ispat, Gallant Metal surge 20% as trading in shares normalize
 
Shares of Gallant Ispat and Gallant Metal was locked in upper circuit of 20% after the trading of these stocks normalized with effect from today.
 
“Company no longer fall under the list of suspected "shell companies' and shares of the company will be shifted from Graded Surveillance Measures (GSM) VI category and trading in shares will be normalized w.e.f January 1, 2018,” these companies has said in a separate regulatory filing. READ FULL REPORT
5 triggers that will drive markets in 2018
 
While the year 2017 turned out to be a rewarding one for Indian markets, the New Year 2018 will keep investors on the edge of their seats as they take cues from a number of events lined up. While higher oil prices and a widening fiscal deficit could be making them nervous, a political stability with recent election victories of the Bharatiya Janata Party (BJP), in power at the Centre, and signs of an earnings revival would lend them some confidence.
 
Markets check

Index Current Pt. Change % Change
 
S&P BSE SENSEX 34,081.14 +24.31 +0.07
 
S&P BSE SENSEX 50 10,987.54 +7.76 +0.07
 
S&P BSE SENSEX Next 50 37,020.78 +171.40 +0.47
 
S&P BSE 100 11,044.85 +15.07 +0.14
 
S&P BSE Bharat 22 Index 3,789.52 +17.27 +0.46

Source: BSE
Oil and Fed raise risks to equity rally
 
In 2016, a large section of the investment fraternity worldwide expected the tide to turn against global equities. Markets had been on a roll for eight consecutive years since 2009 and it was time for the onset of the historical eight-year bear cycle. 
 
It’s been two years since and the bears are yet to emerge out of the woods. While the doomsayers are making themselves heard, the bulls seem to be very much in control as we enter 2018. READ MORE
Investors will be safer in large-caps, say experts
 
With the Sensex and the Nifty rallying over 30 per cent each, and small- and mid-cap indices gaining over 60 per cent and 50 per cent, respectively, 2017 was an exciting year for stock market investors. The good news: Many retail investors, who started systematic investment plans (SIPs), have benefited greatly from this rally.  However, 2018 may not be the same.
 
Experts believe there could be significant volatility due to reasons such as rising crude oil prices, strengthening dollar, and geo-political tensions. And, as the market saying goes, it will be a stock-picker’s year. READ MORE
Select PSBs gain on capital infusion by government
 
Shares of select public sector banks (PSBs) like Bank of India, IDBI Bank, Central Bank of India, Uco Bank, Dena Bank and Bank of Maharashtra were trading higher by up to 6% in early morning trade after the government has pumped in a combined capital of Rs 7,577 crore in these banks.
 
State-owned Bank of India said it has received a capital infusion worth Rs 2,257 crore, which was recently placed under prompt corrective action by the Reserve Bank of India.
 
"The bank has on December 29 received an infusion of Rs 2,257 crore from Government of India in form of common equity tier-1 capital, which is being kept as share application money and would be allotted after due procedure/conditions for allotment," the bank said in a regulatory filing to the BSE. READ MORE
Ten stocks that will offer best growth and value in new year 2018
 
Year 2017 was good for the market, with the Nifty gaining 29 per cent, largely on the back of sentiment or price-earnings expansion, rather than an uptick in earnings. This, however, could change with brokerages expecting a healthy growth in earnings in 2018, driven by policy reforms and a revival in private capital expenditure.
 
While very few sectors and stocks are trading at attractive valuations, given the high expectations, there are stocks in the large-cap space which offer comfort, both on growth as well as on valuations. This is crucial, as in 2018 markets are unlikely to see a smooth run, given the headwinds in the form of further rate hikes by the US and possible liquidity tightening by other central banks, domestic inflation on the rise, expected slippage in India's macros and eight state elections scheduled in the new year.

Click here for 10 stocks, handpicked from the 2018 recommendations of leading brokerages.
Domestic, global flows are expected to stay favourable in early 2018
 
Benchmark indices gained about 28-29 per cent in 2017, their best yearly performance in three years. The gains came despite corporate earnings disappointing and the economy growing at a sluggish pace. 
 
Many stocks saw their valuations get re-rated, taking multiples way above their historic averages. This was made possible by the highest-ever investments by domestic mutual funds (MFs) and supportive global portfolio flows. READ MORE
Top Sectoral Gainer: Nifty Realty

Source: NSE

Sectoral trend

Source: NSE

Sensex heatmap at open 

Source: BSE

Markets at open
 
At 9:18 am, the S&P BSE Sensex was trading at 34,068, up 11 points, while the broader Nifty50 was ruling at 10,525, down 5 points. 

S&P BSE SENSEX 34,059.82 +2.99 +0.01
 
S&P BSE SENSEX 50 10,980.73 +0.95 +0.01
 
S&P BSE SENSEX Next 50 36,925.43 +76.05 +0.21
 
S&P BSE 100 11,034.36 +4.58 +0.04
 
S&P BSE Bharat 22 Index 3,783.33 +11.08 +0.29

Source: BSE

10,426 a key support level for Nifty today: Angel Broking
 
The concluding week of the year traded with a positive bias and eventually wrapped up the activity almost at record close. This has been a remarkable year for Indian markets; in fact, we should put it as, for the equity markets across the globe. The Nifty clocked whopping gains of ~29% in the calendar year 2017 and probably we can count on the fingers of our one hand such spectacular years in the history of Indian markets. READ MORE 
Top developments to track
 
1) India Lower House Approves Changes to Insolvency Code
2) Indian Govt injects equity infusion into 6 major Banks (BoI, Dena bank, CBoI, Bank
of Maharastra and UCO bank)
3) DoT to issue notice to 5 telecos to recover Rs. 2578 crore.
4) Infosys : To divest investment in ANSR Consulting for $1m

Source: Geojit Financial Services
Nifty outlook by Prabhudas Lilladher
 
The year is likely to open with a positive start having Nifty at all time high levels. The IT Index is all set for a takeoff & likely to do well in days to come. Nifty at 10530 with RSI above 63 levels implies scope for further up move. The support for the week is seen at 10400 while resistance is seen at 10650. READ MORE
Top stock pics by Devang Shah
 
AXIS BANK-BUY
CLOSE – Rs- 560
TARGET – Rs 575-585
 
Nifty outlook by Devang Shah
 
Short-term outlook for the market remains positive till Nifty trades above 10,300 levels and expecting target of 10,700-10,850 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 12,000-12,200 levels in medium term. READ MORE
Technical calls
 
BUY HDIL  
   
CMP: Rs 65.55           
TARGET: Rs 73          
STOP LOSS: Rs 60
 
Singapore Nifty
 
At 8:50 am, the S&P BSE Sensex was trading at 10,539, down 19 points or 0.19%, indicating lower opening for the markets. 
Good Morning!

Welcome to Business Standard's market liveblog. 

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel