Mkts end at record highs, up over 1% for the week; PSU Banks extend gains

SI Reporter | New Delhi Last Updated at November 3, 2017 15:49 IST Tiny URL Add to My Page Print Email 2311 markets, stocks, sensex, nifty, bse, nse ALSO READ Sensex, Nifty end at record closing highs; realty, PSU bank stocks gain Sensex trades flat, Nifty holds above 9,650; Tata Motors top gainer Markets snap 8-session rally; Nifty settles below 10,150 ahead of Fed meet Sensex trades flat, Nifty below 9,500; broader markets buck trend –– ADVERTISEMENT –– Benchmark indices ended at record highs on Friday as Public sector banks continued their rally. The indices hit fresh highs at intra-day deals too with Nifty50 climbing to 10,461 and Sensex touching 33,726 levels. Investor sentiment has been upbeat in India with the government’s recent announcement of a recapitalisation plan for banks. The broader NSE Nifty ended 0.3% up at 10,452 to end the week 1.2% higher while Sensex ended 0.3% higher at 33,685, to post a weekly gain of 1.6%. Meanwhile, positive trend was seen in Asian markets as global investors gave a guarded reception to Republican plans for massive US tax cuts, while welcoming the appointment of a centrist at the helm of the Federal Reserve. CATCH ALL THE LIVE UPDATES 03:49 PM Market rundown by Mr. Anand James, Chief Market Strategist of Geojit Financial Services "Resurgence in banks continued edging indices higher, even as new Fed chair stoked optimism that on - going FII buying in equities could continue. Market breadth was, however, relatively flat, as investors searched for more domestic cues, and could look for clues from pre - budget talks. " 03:46 PM Top Sectoral loser: Nifty Pharma Source: NSE 03:44 PM Nifty Chart for the day Source: NSE 03:42 PM Sectoral trend Source: NSE 03:41 PM Nifty PSU Bank index extends gains Source: NSE 03:40 PM Top Sensex gainers and losers Source: BSE 03:38 PM Broader Markets In broader markets, the BSE Midcap index fell 0.07% while BSE Smallcap index gained 0.5% 03:36 PM Markets at close Benchmark indices ended at record highs on Friday as Public sector banks continued their rally. The indices hit fresh highs at intra-day deals too with Nifty50 climbing to 10,461 and Sensex touching 33,726 levels. The S&P BSE index settled at 33,685, up 112 points while the Nifty50 index ended at 10,452, up 28 points 03:16 PM Reliance Nippon AMC to make stock market debut on Nov 6 Reliance Nippon Life Asset Management (RNAM), which successfully concluded its initial public offer (IPO) last week, will make its stock market debut on Monday. The company's IPO was oversubscribed 81.54 times during October 25-27, data available with the NSE showed. The Rs 1,540-crore offering saw healthy demand in all three investor categories. READ MORE 03:00 PM Tata Power Q2 profit falls 44% at Rs 269 cr on lower income Tata Power Co Ltd reported an about 44 per cent slump in quarterly profit, hurt by lower income from its power generation business, missing analysts' forecasts. Profit came in at Rs 269 crore ($41.63 million) in the quarter ended Sept. 30, compared with a profit of Rs 476 crore a year earlier, the company said on Friday. 02:48 PM Amtek Auto zooms 20% as Bharat Forge participates in acquisition process Shares of Amtek Group companies – Amtek Auto, Metalyst Forgings and Castex Technologies – have locked in their respective upper limit of circuit breaker on the BSE after Bharat Forge said that it has participated in the process of acquiring Amtek Auto. Ametk Auto was locked in upper circuit of 20% at Rs 29.70 on the BSE with only buyers seeing on the counter. Till 01:52 PM; a combined 12.63 million shares changed hands and there were pending buy orders for 4.88 million shares on the NSE and BSE. READ MORE 02:30 PM Market Check Index Current Pt. Change % Change S&P BSE SENSEX 33,651.09 +77.87 +0.23 S&P BSE SENSEX 50 10,854.35 +24.03 +0.22 S&P BSE SENSEX Next 50 36,261.35 -18.66 -0.05 S&P BSE 100 10,895.20 +19.22 +0.18 S&P BSE Bharat 22 Index 3,808.41 +3.07 +0.08 02:15 PM Punjab National Bank up 8% as Q2 profit beats estimates Punjab National Bank (PNB) moved higher by 8% to Rs 212 on the BSE in noon deals after the bank reported a better than expected net profit at Rs 561 crore in September quarter (Q2FY18). Analysts on an average expected profit of Rs 298 crore for the quarter. The state-owned bank had profit of Rs 549 crore in a year ago quarter. The assets quality of the bank improved sequentially as well as yearly with gross NPAs as a percentage of advances stood at 12.31% and net NPAs at 8.44 per cent as of end-September 2017. The gross NPAs and net NPAs were at 13.66% and 8.67%, respectively, in Q1FY18. It was 13.63% and 9.10%, respectively, in Q2FY17. READ MORE 02:03 PM Ujjivan Financial surges 10% post September quarter results Ujjivan Financial Services soared 10% to Rs 377 on the BSE in intra-day trade after the company announced that its consolidated net loss declined to Rs 11.95 crore in September quarter (Q2FY18) from Rs 74.94 crore in June quarter (Q1FY18). “The net loss during the quarter declined on account of moderate growth in revenue and consequently higher net interest income (interest earned minus interest expended) and lower credit costs in Q2FY18,” Ujjivan Financial Services said in a statement. READ MORE 01:46 PM SAIL nears 5-year high on expectation of good Q2 results; up 60% in 1-month Steel Authority of India (SAIL) surged 7% to Rs 85.70 in intra-day trade, extending its 36% rally of the past two weeks on the BSE, ahead of its September (Q2FY18) results next week. The stock was trading at its highest level since December 4, 2014. In the past one month, the stock has outperformed the market by surging 60% as compared to just 7% rise in the S&P BSE Sensex. READ MORE 01:25 PM Punjab National Bank Q2 profit up 2%, beats estimates India's state-run Punjab National Bank, the country's fourth-biggest lender by assets, reported a 2 per cent rise in second-quarter profit, beating forecasts. Net profit rose to Rs 561 crore for the quarter ended September 30 from Rs 549 crore a year earlier, the state-run bank said on Friday. 01:11 PM Torrent to buy Unichem's domestic biz for Rs 3,500 cr Ahmedabad-headquartered pharmaceutical giant Torrent Pharmaceuticals is likely to announce the acquisition of Unichem Laboratories' domestic business for a consideration of about Rs 3,500 crore after market hours on Friday. READ MORE 12:54 PM Markets checkGainers Losers Top Turnover Trending Index Current Pt. Change % Change S&P BSE SENSEX 33,633.61 +60.39 +0.18 S&P BSE SENSEX 50 10,849.42 +19.10 +0.18 S&P BSE SENSEX Next 50 36,358.61 +78.60 +0.22 S&P BSE 100 10,895.99 +20.01 +0.18 S&P BSE Bharat 22 Index 3,822.52 +17.18 +0.45 12:28 PM PMI Services activity grows for 2nd straight month in October Services sector activity in India expanded for the second consecutive month in October, driven up by rising new orders — the fastest pace since June — amid positive demand conditions, says a monthly survey. READ MORE 12:14 PM Bitcoin is very definition of a bubble: Credit Suisse CEO The speculation around bitcoin is the “very definition of a bubble,” Credit Suisse Group AG Chief Executive Officer Tidjane Thiam said as the currency exceeded $7,000 for the first time. READ MORE Bitcoin 11:56 AM Buzzing stocks Shares of cable service providers such as Hathway Cable & Datacom Limited (Hathway), Den Networks, Siti Networks and Dish TV India rallied by up to 20% after Hathway reported good set of numbers for the quarter ending September 2017 (Q2FY18). READ FULL REPORT 11:36 AM About Trump's 'safe' choice Jerome Powell and US Fed Markets breathed a sigh of relief after President Donald Trump named Jerome Powell his pick to be the next chair of the Federal Reserve. If confirmed, Powell – considered a “safe” choice – would take over from current Chair Janet Yellen in February, becoming one of the world’s most powerful people. So what’s the big deal? Economist Greg Wright explains why who leads the US central bank matters to us all. READ FULL REPORT 11:15 AM Infy, TCS, Cognizant are downsizing India’s information technology (IT) industry could significantly fall short of its targeted generation of 130,000-150,000 new jobs this year as large companies such as Cognizant, Infosys, and Tech Mahindra (TechM) shed people to embrace automation and focus on productivity of the workforce. READ FULL REPORT 11:05 AM Markets check At 11:00 am, the S&P BSE Sensex was trading at 33,647, up 74 points, while the broader Nifty50 was ruling at 10,444, up 20 points. 10:46 AM Bharti Airtel top gainer Bharti Airtel was up 4% to Rs 565 on the BSE in early morning trade after about 185 million equity shares of the company exchanged hands on the counter. READ MORE airtel 10:21 AM HEG hits new high on stellar Q2 performance HEG was locked in upper circuit of 5% at Rs 1,841, also its new high on the BSE, after the company reported stellar performance in September 2017 (Q2FY18) with net profit Rs 114 crore. The company, a leading graphite electrode manufacturer in India, had recorded a net loss of Rs 14 crore in a year ago quarter. It had posted loss of Rs 50 crore in the entire previous financial year 2016-17. READ MORE 10:10 AM Edelweiss Securities on Hindalco We are upbeat on sustained high spreads and EBITDA margin in excess of 10%. We see Novelis generating quarterly EBITDA of $270-300 mn through to FY19E on improved demand outlook and ongoing cost efficiencies. This would not only aid healthy free cash generation of $400-450 mn per year, but also accelerate deleveraging. Maintain ‘BUY/SO’ with a TP of Rs 325, implying ~7.0x FY19E EBITDA. 09:53 AM Buzzing stock Shriram City Union Finance shed over 3% to Rs2,245 after the company posted a decline of 3% in its net profit at Rs 198.30 crore for second quarter ended September of this fiscal. The company's net profit stood at Rs 204.49 crore in the July-September quarter of the previous fiscal. SCUF 09:26 AM Sectoral trend: All sectoroal indices were trading in green sectors Source: NSE 09:22 AM Sensex heatmap at open heatmapSource: BSE LOAD MORE First Published: Fri, November 03 2017. 15:30 IST READ MORE ON SENSEX NIFTY ASIAN MARKETS JAMES POWELL Q2 EARNINGS TATA POWER HINDALCO FEDERAL RESERVE MARKETS NEWS PREVIOUS STORY NEXT STORY Bitcoin trade to be hit in India? Govt may shut down cryptocurrency dealers Amtek Auto zooms 20% as Bharat Forge participates in acquisition process Reliance Nippon AMC to make stock market debut on Nov 6 Punjab National Bank up 8% as Q2 profit beats estimates Ujjivan Financial surges 10% post September quarter results SAIL nears 5-year high on expectation of good Q2 results; up 60% in 1-month Hathway, Den Networks rally upto 20% after strong Q2 results by Hathway Bharti Airtel up 4% after huge block deal HEG hits new high on stellar Q2 performance; stock zooms 1127% in 2017 Derivative strategy on Jain Irrigation by HDFC Securities RECOMMENDED FOR YOU Advertisements Invest in your future Open a demat account The IBM Cloud. AI ready. Built for your business. Four-sided curved ceramic body Smart Phone. Click here Business Standard book for IBPS: 3000 GK Questions: GST, Budget 2017, Demonetisation The IBM Cloud. Designed for data. Yours. Xiaomi Mi Mix 2 now available in India Make hay while the sun shines Open a demat account Full screen display smartphone made for the world. Rs 3599/- Business Standard Premium - Access best of our content across devices You Might Also Like Nifty outlook and trading ideas from Prabhudas Lilladher for today's trade Nifty outlook and trading ideas from Prabhudas Lilladher for today's trade New India Assurance IPO reasonably valued New India Assurance IPO reasonably valued Infosys to expand team to put GSTN on track Infosys to expand team to put GSTN on track HEG hits new high on stellar Q2 performance; stock zooms 1127% in 2017 HEG hits new high on stellar Q2 performance; stock zooms 1127% in 2017 NTPC blast: Rahul Gandhi leaves Gujarat tour midway, rushes to Raebareli NTPC blast: Rahul Gandhi leaves Gujarat tour midway, rushes to Raebareli Piramal Group in race to buy stakes in Binani Cement, Electrosteel Steels Piramal Group in race to buy stakes in Binani Cement, Electrosteel Steels Promoted Stories China Left Rattled As India Builds New Road Near Ladakh Sector Amid Doklam Standoff China Left Rattled As India Builds New Road Near Ladakh Sector Amid Doklam Standoff News GST Will Have Positive Impact On India's Economy, Slowdown Is Temporary, Says World Bank GST Will Have Positive Impact On India's Economy, Slowdown Is Temporary, Says World Bank News Mumbai’s Playboy Club Is India’s Best Nightclub Mumbai’s Playboy Club Is India’s Best Nightclub LiveInStyle.com Vitara Brezza Price Starts @ ₹7.24L (incl. GST). Check On-Road Price for Free Vitara Brezza Price Starts @ ₹7.24L (incl. GST). Check On-Road Price for Free Carwale Check Out Credit Card Offers from Top Banks! Check Out Credit Card Offers from Top Banks! BankBazaar.com Own a home with 99% Funding from 2nd Nov. Own a home with 99% Funding from 2nd Nov. Tata Value Homes Recommended by GO LIVE MARKET BSE 33685.56 112.34 (0.33 %) NSE 10452.50 28.70 (0.28 %) STOCK WATCH TOP GAINERS TOP LOSERS BSE NSE COMPANY PRICE() CHG(%) HATHWAY CABLE 38.25 19.91 RAIN INDUSTRIES 309.20 10.47 DEN NETWORKS 92.35 10.27 S A I L 86.75 8.64 ARVIND LTD 440.80 8.61 > More on BSE Gainers LATEST NEWS IN THIS SECTION ALL G Srinivasan, CMD, The New India Assurance Company Limited during the IPO Press Conference in Mumbai. (Photo: Kamlesh Pednekar) Lukewarm response to New India IPO as HNIs stay away; LIC plays saviour markets, stocks, sensex, nifty, bse, nse Mkts end at record highs, up over 1% for the week; PSU Banks extend gains Bitcoin trade to be hit in India? Govt may shut cryptocurrency dealers Bitcoin trade to be hit in India? Govt may shut down cryptocurrency dealers Amtek auto, Amtek Amtek Auto zooms 20% as Bharat Forge participates in acquisition process More > MOST POPULAR READ SHARE COMMENTED Stake sale, Bidding Piramal Group in race to buy stakes in Binani Cement, Electrosteel Steels Torrent Torrent to buy Unichem's domestic biz for Rs 3,500 cr; announcement today Samir Mehta Samir Mehta is building Torrent Pharma through a string of acquisitions Suzuki Motor's President Toshihiro Suzuk Suzuki CEO worried over India's electric push despite sales boom DERIVATIVES INDEX STOCK INDEX INSTRUMENT TYPE EXPIRY DATE OPTION TYPE STRIKE PRICE SUBMIT SI Reporter | New Delhi Last Updated at November 3, 2017 15:49 IST Tiny URL Add to My Page Print Email 2311 markets, stocks, sensex, nifty, bse, nse ALSO READ Sensex, Nifty end at record closing highs; realty, PSU bank stocks gain Sensex trades flat, Nifty holds above 9,650; Tata Motors top gainer Markets snap 8-session rally; Nifty settles below 10,150 ahead of Fed meet Sensex trades flat, Nifty below 9,500; broader markets buck trend –– ADVERTISEMENT –– Benchmark indices ended at record highs on Friday as Public sector banks continued their rally. The indices hit fresh highs at intra-day deals too with Nifty50 climbing to 10,461 and Sensex touching 33,726 levels. Investor sentiment has been upbeat in India with the government’s recent announcement of a recapitalisation plan for banks. The broader NSE Nifty ended 0.3% up at 10,452 to end the week 1.2% higher while Sensex ended 0.3% higher at 33,685, to post a weekly gain of 1.6%. Meanwhile, positive trend was seen in Asian markets as global investors gave a guarded reception to Republican plans for massive US tax cuts, while welcoming the appointment of a centrist at the helm of the Federal Reserve. CATCH ALL THE LIVE UPDATES 03:49 PM Market rundown by Mr. Anand James, Chief Market Strategist of Geojit Financial Services "Resurgence in banks continued edging indices higher, even as new Fed chair stoked optimism that on - going FII buying in equities could continue. Market breadth was, however, relatively flat, as investors searched for more domestic cues, and could look for clues from pre - budget talks. " 03:46 PM Top Sectoral loser: Nifty Pharma Source: NSE 03:44 PM Nifty Chart for the day Source: NSE 03:42 PM Sectoral trend Source: NSE 03:41 PM Nifty PSU Bank index extends gains Source: NSE 03:40 PM Top Sensex gainers and losers Source: BSE 03:38 PM Broader Markets In broader markets, the BSE Midcap index fell 0.07% while BSE Smallcap index gained 0.5% 03:36 PM Markets at close Benchmark indices ended at record highs on Friday as Public sector banks continued their rally. The indices hit fresh highs at intra-day deals too with Nifty50 climbing to 10,461 and Sensex touching 33,726 levels. The S&P BSE index settled at 33,685, up 112 points while the Nifty50 index ended at 10,452, up 28 points 03:16 PM Reliance Nippon AMC to make stock market debut on Nov 6 Reliance Nippon Life Asset Management (RNAM), which successfully concluded its initial public offer (IPO) last week, will make its stock market debut on Monday. The company's IPO was oversubscribed 81.54 times during October 25-27, data available with the NSE showed. The Rs 1,540-crore offering saw healthy demand in all three investor categories. READ MORE 03:00 PM Tata Power Q2 profit falls 44% at Rs 269 cr on lower income Tata Power Co Ltd reported an about 44 per cent slump in quarterly profit, hurt by lower income from its power generation business, missing analysts' forecasts. Profit came in at Rs 269 crore ($41.63 million) in the quarter ended Sept. 30, compared with a profit of Rs 476 crore a year earlier, the company said on Friday. 02:48 PM Amtek Auto zooms 20% as Bharat Forge participates in acquisition process Shares of Amtek Group companies – Amtek Auto, Metalyst Forgings and Castex Technologies – have locked in their respective upper limit of circuit breaker on the BSE after Bharat Forge said that it has participated in the process of acquiring Amtek Auto. Ametk Auto was locked in upper circuit of 20% at Rs 29.70 on the BSE with only buyers seeing on the counter. Till 01:52 PM; a combined 12.63 million shares changed hands and there were pending buy orders for 4.88 million shares on the NSE and BSE. READ MORE 02:30 PM Market Check Index Current Pt. Change % Change S&P BSE SENSEX 33,651.09 +77.87 +0.23 S&P BSE SENSEX 50 10,854.35 +24.03 +0.22 S&P BSE SENSEX Next 50 36,261.35 -18.66 -0.05 S&P BSE 100 10,895.20 +19.22 +0.18 S&P BSE Bharat 22 Index 3,808.41 +3.07 +0.08 02:15 PM Punjab National Bank up 8% as Q2 profit beats estimates Punjab National Bank (PNB) moved higher by 8% to Rs 212 on the BSE in noon deals after the bank reported a better than expected net profit at Rs 561 crore in September quarter (Q2FY18). Analysts on an average expected profit of Rs 298 crore for the quarter. The state-owned bank had profit of Rs 549 crore in a year ago quarter. The assets quality of the bank improved sequentially as well as yearly with gross NPAs as a percentage of advances stood at 12.31% and net NPAs at 8.44 per cent as of end-September 2017. The gross NPAs and net NPAs were at 13.66% and 8.67%, respectively, in Q1FY18. It was 13.63% and 9.10%, respectively, in Q2FY17. READ MORE 02:03 PM Ujjivan Financial surges 10% post September quarter results Ujjivan Financial Services soared 10% to Rs 377 on the BSE in intra-day trade after the company announced that its consolidated net loss declined to Rs 11.95 crore in September quarter (Q2FY18) from Rs 74.94 crore in June quarter (Q1FY18). “The net loss during the quarter declined on account of moderate growth in revenue and consequently higher net interest income (interest earned minus interest expended) and lower credit costs in Q2FY18,” Ujjivan Financial Services said in a statement. READ MORE 01:46 PM SAIL nears 5-year high on expectation of good Q2 results; up 60% in 1-month Steel Authority of India (SAIL) surged 7% to Rs 85.70 in intra-day trade, extending its 36% rally of the past two weeks on the BSE, ahead of its September (Q2FY18) results next week. The stock was trading at its highest level since December 4, 2014. In the past one month, the stock has outperformed the market by surging 60% as compared to just 7% rise in the S&P BSE Sensex. READ MORE 01:25 PM Punjab National Bank Q2 profit up 2%, beats estimates India's state-run Punjab National Bank, the country's fourth-biggest lender by assets, reported a 2 per cent rise in second-quarter profit, beating forecasts. Net profit rose to Rs 561 crore for the quarter ended September 30 from Rs 549 crore a year earlier, the state-run bank said on Friday. 01:11 PM Torrent to buy Unichem's domestic biz for Rs 3,500 cr Ahmedabad-headquartered pharmaceutical giant Torrent Pharmaceuticals is likely to announce the acquisition of Unichem Laboratories' domestic business for a consideration of about Rs 3,500 crore after market hours on Friday. READ MORE 12:54 PM Markets checkGainers Losers Top Turnover Trending Index Current Pt. Change % Change S&P BSE SENSEX 33,633.61 +60.39 +0.18 S&P BSE SENSEX 50 10,849.42 +19.10 +0.18 S&P BSE SENSEX Next 50 36,358.61 +78.60 +0.22 S&P BSE 100 10,895.99 +20.01 +0.18 S&P BSE Bharat 22 Index 3,822.52 +17.18 +0.45 12:28 PM PMI Services activity grows for 2nd straight month in October Services sector activity in India expanded for the second consecutive month in October, driven up by rising new orders — the fastest pace since June — amid positive demand conditions, says a monthly survey. READ MORE 12:14 PM Bitcoin is very definition of a bubble: Credit Suisse CEO The speculation around bitcoin is the “very definition of a bubble,” Credit Suisse Group AG Chief Executive Officer Tidjane Thiam said as the currency exceeded $7,000 for the first time. READ MORE Bitcoin 11:56 AM Buzzing stocks Shares of cable service providers such as Hathway Cable & Datacom Limited (Hathway), Den Networks, Siti Networks and Dish TV India rallied by up to 20% after Hathway reported good set of numbers for the quarter ending September 2017 (Q2FY18). READ FULL REPORT 11:36 AM About Trump's 'safe' choice Jerome Powell and US Fed Markets breathed a sigh of relief after President Donald Trump named Jerome Powell his pick to be the next chair of the Federal Reserve. If confirmed, Powell – considered a “safe” choice – would take over from current Chair Janet Yellen in February, becoming one of the world’s most powerful people. So what’s the big deal? Economist Greg Wright explains why who leads the US central bank matters to us all. READ FULL REPORT 11:15 AM Infy, TCS, Cognizant are downsizing India’s information technology (IT) industry could significantly fall short of its targeted generation of 130,000-150,000 new jobs this year as large companies such as Cognizant, Infosys, and Tech Mahindra (TechM) shed people to embrace automation and focus on productivity of the workforce. READ FULL REPORT 11:05 AM Markets check At 11:00 am, the S&P BSE Sensex was trading at 33,647, up 74 points, while the broader Nifty50 was ruling at 10,444, up 20 points. 10:46 AM Bharti Airtel top gainer Bharti Airtel was up 4% to Rs 565 on the BSE in early morning trade after about 185 million equity shares of the company exchanged hands on the counter. READ MORE airtel 10:21 AM HEG hits new high on stellar Q2 performance HEG was locked in upper circuit of 5% at Rs 1,841, also its new high on the BSE, after the company reported stellar performance in September 2017 (Q2FY18) with net profit Rs 114 crore. The company, a leading graphite electrode manufacturer in India, had recorded a net loss of Rs 14 crore in a year ago quarter. It had posted loss of Rs 50 crore in the entire previous financial year 2016-17. READ MORE 10:10 AM Edelweiss Securities on Hindalco We are upbeat on sustained high spreads and EBITDA margin in excess of 10%. We see Novelis generating quarterly EBITDA of $270-300 mn through to FY19E on improved demand outlook and ongoing cost efficiencies. This would not only aid healthy free cash generation of $400-450 mn per year, but also accelerate deleveraging. Maintain ‘BUY/SO’ with a TP of Rs 325, implying ~7.0x FY19E EBITDA. 09:53 AM Buzzing stock Shriram City Union Finance shed over 3% to Rs2,245 after the company posted a decline of 3% in its net profit at Rs 198.30 crore for second quarter ended September of this fiscal. The company's net profit stood at Rs 204.49 crore in the July-September quarter of the previous fiscal. SCUF 09:26 AM Sectoral trend: All sectoroal indices were trading in green sectors Source: NSE 09:22 AM Sensex heatmap at open heatmapSource: BSE LOAD MORE First Published: Fri, November 03 2017. 15:30 IST READ MORE ON SENSEX NIFTY ASIAN MARKETS JAMES POWELL Q2 EARNINGS TATA POWER HINDALCO FEDERAL RESERVE MARKETS NEWS PREVIOUS STORY NEXT STORY Bitcoin trade to be hit in India? Govt may shut down cryptocurrency dealers Amtek Auto zooms 20% as Bharat Forge participates in acquisition process Reliance Nippon AMC to make stock market debut on Nov 6 Punjab National Bank up 8% as Q2 profit beats estimates Ujjivan Financial surges 10% post September quarter results SAIL nears 5-year high on expectation of good Q2 results; up 60% in 1-month Hathway, Den Networks rally upto 20% after strong Q2 results by Hathway Bharti Airtel up 4% after huge block deal HEG hits new high on stellar Q2 performance; stock zooms 1127% in 2017 Derivative strategy on Jain Irrigation by HDFC Securities RECOMMENDED FOR YOU Advertisements Invest in your future Open a demat account The IBM Cloud. AI ready. Built for your business. Four-sided curved ceramic body Smart Phone. Click here Business Standard book for IBPS: 3000 GK Questions: GST, Budget 2017, Demonetisation The IBM Cloud. Designed for data. Yours. Xiaomi Mi Mix 2 now available in India Make hay while the sun shines Open a demat account Full screen display smartphone made for the world. Rs 3599/- Business Standard Premium - Access best of our content across devices You Might Also Like Nifty outlook and trading ideas from Prabhudas Lilladher for today's trade Nifty outlook and trading ideas from Prabhudas Lilladher for today's trade New India Assurance IPO reasonably valued New India Assurance IPO reasonably valued Infosys to expand team to put GSTN on track Infosys to expand team to put GSTN on track HEG hits new high on stellar Q2 performance; stock zooms 1127% in 2017 HEG hits new high on stellar Q2 performance; stock zooms 1127% in 2017 NTPC blast: Rahul Gandhi leaves Gujarat tour midway, rushes to Raebareli NTPC blast: Rahul Gandhi leaves Gujarat tour midway, rushes to Raebareli Piramal Group in race to buy stakes in Binani Cement, Electrosteel Steels Piramal Group in race to buy stakes in Binani Cement, Electrosteel Steels Promoted Stories China Left Rattled As India Builds New Road Near Ladakh Sector Amid Doklam Standoff China Left Rattled As India Builds New Road Near Ladakh Sector Amid Doklam Standoff News GST Will Have Positive Impact On India's Economy, Slowdown Is Temporary, Says World Bank GST Will Have Positive Impact On India's Economy, Slowdown Is Temporary, Says World Bank News Mumbai’s Playboy Club Is India’s Best Nightclub Mumbai’s Playboy Club Is India’s Best Nightclub LiveInStyle.com Vitara Brezza Price Starts @ ₹7.24L (incl. GST). Check On-Road Price for Free Vitara Brezza Price Starts @ ₹7.24L (incl. GST). Check On-Road Price for Free Carwale Check Out Credit Card Offers from Top Banks! Check Out Credit Card Offers from Top Banks! BankBazaar.com Own a home with 99% Funding from 2nd Nov. Own a home with 99% Funding from 2nd Nov. Tata Value Homes Recommended by GO LIVE MARKET BSE 33685.56 112.34 (0.33 %) NSE 10452.50 28.70 (0.28 %) STOCK WATCH TOP GAINERS TOP LOSERS BSE NSE COMPANY PRICE() CHG(%) HATHWAY CABLE 38.25 19.91 RAIN INDUSTRIES 309.20 10.47 DEN NETWORKS 92.35 10.27 S A I L 86.75 8.64 ARVIND LTD 440.80 8.61 > More on BSE Gainers LATEST NEWS IN THIS SECTION ALL G Srinivasan, CMD, The New India Assurance Company Limited during the IPO Press Conference in Mumbai. (Photo: Kamlesh Pednekar) Lukewarm response to New India IPO as HNIs stay away; LIC plays saviour markets, stocks, sensex, nifty, bse, nse Mkts end at record highs, up over 1% for the week; PSU Banks extend gains Bitcoin trade to be hit in India? Govt may shut cryptocurrency dealers Bitcoin trade to be hit in India? Govt may shut down cryptocurrency dealers Amtek auto, Amtek Amtek Auto zooms 20% as Bharat Forge participates in acquisition process More > MOST POPULAR READ SHARE COMMENTED Stake sale, Bidding Piramal Group in race to buy stakes in Binani Cement, Electrosteel Steels Torrent Torrent to buy Unichem's domestic biz for Rs 3,500 cr; announcement today Samir Mehta Samir Mehta is building Torrent Pharma through a string of acquisitions Suzuki Motor's President Toshihiro Suzuk Suzuki CEO worried over India's electric push despite sales boom DERIVATIVES INDEX STOCK INDEX INSTRUMENT TYPE EXPIRY DATE OPTION TYPE STRIKE PRICE SUBMIT All that happened in the markets today

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Benchmark indices ended at record highs on Friday as Public sector banks continued their rally. The indices hit fresh highs at intra-day deals too with Nifty50 climbing to 10,461 and Sensex touching  33,726 levels.

 

Investor sentiment has been upbeat in India with the government’s recent announcement of a recapitalisation plan for banks.

 

The broader NSE Nifty ended 0.3% up at 10,452 to end the week 1.2% higher while Sensex ended 0.3% higher at 33,685, to post a weekly gain of 1.6%.

Meanwhile, positive trend was seen in Asian markets as global investors gave a guarded reception to Republican plans for massive US tax cuts, while welcoming the appointment of a centrist at the helm of the Federal Reserve.

  • 3:49 PM

    Market rundown by Mr. Anand James, Chief Market Strategist of Geojit Financial Services 
    “Resurgence in banks continued edging indices higher, even as new Fed chair stoked optimism that on – going FII buying in equities could continue. Market breadth was, however, relatively flat, as investors searched for more domestic cues, and could look for clues from pre – budget talks. “

    03:46 PM

    Top Sectoral loser: Nifty Pharma

    Source: NSE

    03:44 PM

    Nifty Chart for the day

    Source: NSE

    03:42 PM

    Sectoral trend

    Source: NSE

    03:41 PM

    Nifty PSU Bank index extends gains

    Source: NSE

    Top Sensex gainers and losers

    Source: BSE

    03:38 PM

    Broader Markets

    In broader markets, the BSE Midcap index fell 0.07% while BSE Smallcap index gained 0.5%

    03:36 PM

    Markets at close

    Benchmark indices ended at record highs on Friday as Public sector banks continued their rally. The indices hit fresh highs at intra-day deals too with Nifty50 climbing to 10,461 and Sensex touching  33,726 levels.

    The S&P BSE index settled at 33,685, up 112 points while the Nifty50 index ended at 10,452, up 28 point.

    03:16 PM

    Reliance Nippon AMC to make stock market debut on Nov 6
    Reliance Nippon Life Asset Management (RNAM), which successfully concluded its initial public offer (IPO) last week, will make its stock market debut on Monday.
    The company’s IPO was oversubscribed 81.54 times during October 25-27, data available with the NSE showed.
    The Rs 1,540-crore offering saw healthy demand in all three investor categories.

    03:00 PM

    Tata Power Q2 profit falls 44% at Rs 269 cr on lower income
    Tata Power Co Ltd reported an about 44 per cent slump in quarterly profit, hurt by lower income from its power generation business, missing analysts’ forecasts.
    Profit came in at Rs 269 crore ($41.63 million) in the quarter ended Sept. 30, compared with a profit of Rs 476 crore a year earlier, the company said on Friday.

    02:48 PM

    Amtek Auto zooms 20% as Bharat Forge participates in acquisition process
    Shares of Amtek Group companies – Amtek Auto, Metalyst Forgings and Castex Technologies – have locked in their respective upper limit of circuit breaker on the BSE after Bharat Forge said that it has participated in the process of acquiring Amtek Auto.
    Ametk Auto was locked in upper circuit of 20% at Rs 29.70 on the BSE with only buyers seeing on the counter. Till 01:52 PM; a combined 12.63 million shares changed hands and there were pending buy orders for 4.88 million shares on the NSE and BSE. 

    02:30 PM

    Market Check

    Index Current Pt. Change % Change
    S&P BSE SENSEX 33,651.09 +77.87 +0.23
    S&P BSE SENSEX 50 10,854.35 +24.03 +0.22
    S&P BSE SENSEX Next 50 36,261.35 -18.66 -0.05
    S&P BSE 100 10,895.20 +19.22 +0.18
    S&P BSE Bharat 22 Index 3,808.41 +3.07 +0.08

    02:15 PM

    Punjab National Bank up 8% as Q2 profit beats estimates
    Punjab National Bank (PNB) moved higher by 8% to Rs 212 on the BSE in noon deals after the bank reported a better than expected net profit at Rs 561 crore in September quarter (Q2FY18). Analysts on an average expected profit of Rs 298 crore for the quarter. The state-owned bank had profit of Rs 549 crore in a year ago quarter.
    The assets quality of the bank improved sequentially as well as yearly with gross NPAs as a percentage of advances stood at 12.31% and net NPAs at 8.44 per cent as of end-September 2017. The gross NPAs and net NPAs were at 13.66% and 8.67%, respectively, in Q1FY18. It was 13.63% and 9.10%, respectively, in Q2FY17.
    02:03 PM
    Ujjivan Financial surges 10% post September quarter results
    Ujjivan Financial Services soared 10% to Rs 377 on the BSE in intra-day trade after the company announced that its consolidated net loss declined to Rs 11.95 crore in September quarter (Q2FY18) from Rs 74.94 crore in June quarter (Q1FY18).
    “The net loss during the quarter declined on account of moderate growth in revenue and consequently higher net interest income (interest earned minus interest expended) and lower credit costs in Q2FY18,” Ujjivan Financial Services said in a statement.

    01:46 PM

    SAIL nears 5-year high on expectation of good Q2 results; up 60% in 1-month
    Steel Authority of India (SAIL) surged 7% to Rs 85.70 in intra-day trade, extending its 36% rally of the past two weeks on the BSE, ahead of its September (Q2FY18) results next week.  The stock was trading at its highest level since December 4, 2014.
    In the past one month, the stock has outperformed the market by surging 60% as compared to just 7% rise in the S&P BSE Sensex.

    01:25 PM

    Punjab National Bank Q2 profit up 2%, beats estimates
    India’s state-run Punjab National Bank, the country’s fourth-biggest lender by assets, reported a 2 per cent rise in second-quarter profit, beating forecasts.
    Net profit rose to Rs 561 crore for the quarter ended September 30 from Rs 549 crore a year earlier, the state-run bank said on Friday.
  • 01:11 PM

    Torrent to buy Unichem’s domestic biz for Rs 3,500 cr
    Ahmedabad-headquartered pharmaceutical giant Torrent Pharmaceuticals is likely to announce the acquisition of Unichem Laboratories’ domestic business for a consideration of about Rs 3,500 crore after market hours on Friday.

    12:54 PM

    Markets checkGainers

    • Losers
    • Top Turnover
    • Trending
    Index Current Pt. Change % Change
    S&P BSE SENSEX 33,633.61 +60.39 +0.18
    S&P BSE SENSEX 50 10,849.42 +19.10 +0.18
    S&P BSE SENSEX Next 50 36,358.61 +78.60 +0.22
    S&P BSE 100 10,895.99 +20.01 +0.18
    S&P BSE Bharat 22 Index 3,822.52 +17.18 +0.45

    12:28 PM

    PMI Services activity grows for 2nd straight month in October
    Services sector activity in India expanded for the second consecutive month in October, driven up by rising new orders — the fastest pace since June — amid positive demand conditions, says a monthly survey.
  • 12:14 PM

    Bitcoin is very definition of a bubble: Credit Suisse CEO
    The speculation around bitcoin is the “very definition of a bubble,” Credit Suisse Group AG Chief Executive Officer Tidjane Thiam said as the currency exceeded $7,000 for the first time.

    Bitcoin

    11:56 AM

    Buzzing stocks 
    Shares of cable service providers such as Hathway Cable & Datacom Limited (Hathway), Den Networks, Siti Networks and Dish TV India rallied by up to 20% after Hathway reported good set of numbers for the quarter ending September 2017 (Q2FY18).

    11:36 AM

    About Trump’s ‘safe’ choice Jerome Powell and US Fed
    Markets breathed a sigh of relief after President Donald Trump named Jerome Powell his pick to be the next chair of the Federal Reserve. If confirmed, Powell – considered a “safe” choice – would take over from current Chair Janet Yellen in February, becoming one of the world’s most powerful people. So what’s the big deal? Economist Greg Wright explains why who leads the US central bank matters to us all.

    11:15 AM

    Infy, TCS, Cognizant are downsizing
    India’s information technology (IT) industry could significantly fall short of its targeted generation of 130,000-150,000 new jobs this year as large companies such as Cognizant, Infosys, and Tech Mahindra (TechM) shed people to embrace automation and focus on productivity of the workforce.

    11:05 AM

    Markets check

    At 11:00 am, the S&P BSE Sensex was trading at 33,647, up 74 points, while the broader Nifty50 was ruling at 10,444, up 20 points.

    10:46 AM

    Bharti Airtel top gainer 

    Bharti Airtel was up 4% to Rs 565 on the BSE in early morning trade after about 185 million equity shares of the company exchanged hands on the counter.

    airtel
  • 10:21 AM

    HEG hits new high on stellar Q2 performance
    HEG was locked in upper circuit of 5% at Rs 1,841, also its new high on the BSE, after the company reported stellar performance in September 2017 (Q2FY18) with net profit Rs 114 crore. The company, a leading graphite electrode manufacturer in India, had recorded a net loss of Rs 14 crore in a year ago quarter. It had posted loss of Rs 50 crore in the entire previous financial year 2016-17.
  • 10:10 AM

    Edelweiss Securities on Hindalco
    We are upbeat on sustained high spreads and EBITDA margin in excess of 10%. We see Novelis generating quarterly EBITDA of $270-300 mn through to FY19E on improved demand outlook and ongoing cost efficiencies. This would not only aid healthy free cash generation of $400-450 mn per year, but also accelerate deleveraging. Maintain ‘BUY/SO’ with a TP of Rs 325, implying ~7.0x FY19E EBITDA.
  • 09:53 AM

    Buzzing stock 

    Shriram City Union Finance shed over 3% to Rs2,245 after the company posted a decline of 3% in its net profit at Rs 198.30 crore for second quarter ended September of this fiscal. The company’s net profit stood at Rs 204.49 crore in the July-September quarter of the previous fiscal.

    SCUF
  • 09:26 AM

    Sectoral trend: All sectoroal indices were trading in green

    sectors

    Source: NSE
  • 09:22 AM

    Sensex heatmap at open 

    heatmap

Source business-standard.com
Via business-standard.com

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