The Sensex is down 130.03 points or 0.5 percent at 27719.53 and the Nifty is down 44.05 points or 0.5 percent at 8588.70. About 607 shares have advanced, 986 shares declined, and 167 shares are unchanged.
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ONGC, Tata Steel, Bharti Airtel, Adani Ports and ITC are top gainers while Coal India, GAIL, Tata Motors, Infosys and TCS are losers in the Sensex.
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Bank nifty also participated in the rally on Friday and made a high of 19795 and closed at 19708, 235 points up from its previous day’s close of 19473. ICICI Bank has risen by 4.64 percent, which has 19 percent weight age in the Banking Index. The next level of Bank Nifty is 19862.
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India's local search engine Just Dial is expected to report dismal performance in third quarter earnings due to demonetisation. Profit is seen falling 5.2 percent year-on-year to Rs 25.5 crore on weak operational performance, though other income may support.
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Revenue during the quarter may increase 7.1 percent to Rs 183.5 crore compared with Rs 171.33 crore in same quarter last year
Midcaps will continue to outperform and within the market there are certain spaces which are in a bull market of their own. So, metals continue to show strong upside.
Hindalco Industries is a buy with a stop loss of Rs 183 and target of Rs 197.
Stock Future Tips PVR which came off post the news is again beginning to push up. So, that is a buy with a stop loss of Rs 1,275 and target of Rs 1,340
Cement as a commodity is also doing extremely well. So, India Cements is a buy with a stop loss of Rs 139 and target of Rs 152.
Jubilant Life Sciences is also a buy with a stop loss of Rs 688 and target of Rs 720.
Edelweiss Financial Services is again beginning a rally. This is a buy with a stop loss of Rs 109 and target of Rs 120.
Markets regulator Sebi allowed Delhi Stock Exchange (DSE) to exit the stock bourse business following a request from the exchange.
Share Market Tips- DSE made a request to Securities and Exchange Board of India (Sebi) in May 2014 for exiting the stock exchange business.
The regulator has asked the DSE to change its name and not to use the expression "stock exchange" or any variant of this expression in its name, among other things.
DSE, formerly known as Delhi Stock Exchange Association Ltd, was incorporated in 1947. It was later granted permanent recognition on March 1, 1982, as a stock exchange.
Sebi, in May 2012, had issued the guidelines for exit of stock exchanges.
HUL Q3 net may fall; volume de-growth seen on demonetisation
Stock Future Tips Hindustan Unilever’s net profit is likely to shrink 0.5 percent in October-December to Rs 967 crore from Rs 972 crore in corresponding quarter last fiscal.
Its total income may also fall 4 percent at Rs 7450 crore against Rs 7764 crore in year-ago period. It is to be noted that the base quarter had an exceptional loss of Rs 79.6 crore.
Demonetisation is seen hitting the FMCG major's business as margins may contract 40 basis points to 18 percent in Q3 from 18.4 percent (year-on-year).
Yes Bank Q3 profit, NII jump 30%; loan growth strong at 39%
Yes Bank's third quarter earnings beat analysts' expectations on Thursday, with profit rising 30.6 percent to Rs 882.6 crore compared to year-ago period. The growth was driven by strong net interest income, other income and lower provisions.
Net interest income, the difference between interest earned and interest expended, grew by 30.2 percent year-on-year to Rs 1,507 crore, with loan growth of 38.7 percent at Rs 1.17 lakh crore at the end of December 2016.
Equity Tips- Profit was estimated at Rs 813 crore and net interest income at Rs 1,477.2 crore for the quarter.
Other income or non-interest income surged 33.8 percent year-on-year to Rs 998.35 crore and operating profit jumped 26.46 percent to Rs 1,453.8 crore in the quarter ended December 2016.
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RBI Governor Urjit Patel will brief here a parliamentary panel about demonetisation and its impact on the economy and the steps taken by the central bank to deal with the cash crunch today.
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Besides, representatives of the Finance Ministry, including from the department of Economic Affairs, Financial Services and Revenue will brief the members of the Standing Committee on Finance headed by former Union Minister and senior Congress leader Veerappa Moily.
Also, representatives of Indian Banks Association (IBA), State Bank of India (SBI), Punjab National Bank (PNB) and Oriental Bank of Commerce (OBC) are scheduled to be present in the meeting.
The meeting will discuss the "demonetisation of Indian currency notes of Rs 500 and Rs 1,000 and the impact thereof".
The RBI Governor is also scheduled to appear before the Public Accounts Committee of Parliament on the same issue on January 20.
In a surprise move on November 8, Prime Minister Narendra Modi had announced the demonetisation of old Rs 500 and Rs 1,000 notes.
Following the decision, the RBI had put restrictions on withdrawal of cash from ATMs as well as from banks to deal with shortage of new high denomination currency notes. This led to long queues at ATMs and bank branches.
The cash situation has improved gradually with supply of new Rs 500 and Rs 2,000 notes. Yesterday, the RBI increased the daily withdrawal limit from ATMs to Rs 10,000, though it kept the weekly ceiling at Rs 24,000.
All over the country, the banks had to deal with huge rush of people who thronged their branches to deposit the junked notes. The deadline for depositing old notes with banks ended on December 30.
Equity benchmarks failed to hold on to opening gains Tuesday as the Nifty ended below 8400 level amid consolidation, weighed by bank and oil stocks. Investors maintained cautious stance ahead of British Prime Minister Theresa May's speech on Brexit plans due later today. The market opened higher following consensus over GST roll out.
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The 30-share BSE Sensex was down 52.51 points at 27235.66 and the 50-share NSE Nifty slipped 14.80 points to 8398.
3:30 pm Market closing: Benchmark indices ended at over two-month closing highs as Indian market outperformed Asian peers. The Sensex was up 50.11 points or 0.2 percent at 27288.17, and the Nifty up 12.45 points or 0.1 percent at 8412.80. About 1529 shares advanced, 1245 shares declined, and 316 shares were unchanged.
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Tata Steel, Tata Motors, Adani Ports, SBI and Hero MotoCorp are gainers while Infosys, ONGC, Reliance, Sun Pharma and GAIL are losers in the Sensex.