3:30 Market close:
The market ended on higher note. The Sensex closed up 153.95 points or 0.6
percent at 27395.73, and the Nifty was up 45.60 points at 8246.30. About 1616
shares have advanced, 1312 shares declined, and 117 shares are unchanged.
Metal stocks ruled the roost with Sesa Sterlite, Hindalco and
Coal India gaining 2-4 percent each. Other gainers in the Sensex were Tata
Motors and Hero Motocorp.
Bharti Airtel fell
over 1 percent while banks in red with some marginal loss. ICICI Bank
and SBI were down 0.2-0.6 percent.
3:10 pm Market data:
The level of investments in domestic shares through participatory notes
(P-Notes) declined to Rs 2.5 lakh crore (USD 39 billion) in November after
hitting nearly a 7-year high in the preceding month.
According to the data released by the Securities and Exchange
Board of India (Sebi), the total value of P-Note investments in Indian markets
(equity, debt and derivatives) dropped to Rs 2,49,210 crore last month from Rs
2,65,675 crore (USD 43 billion) in October.
Investment in October was the highest level since February
2008, when the cumulative value of such investments stood at Rs 3,22,743 crore.
2:50 pm Building
muscles in 2015? Talwalkars Better Value Fitness Limited, popularly known as
Talwalkars has set out an aggressive gym expansion plan for 2015 with its
operations commencing by June.
Company CFO Anant Gawande is confident of beating their 20
percent profit growth guidance by 6-7 percent in the current fiscal backed by
Q4 performance being stronger than Q3. In addition, he sees share of value
added services advancing to 35 percent from 22-23 percent in 3-4 years.
Being country's largest chain of health clubs, the company
is now set to rollout state of the art club, which is anticipated to generate
revenues Q3FY16 onwards,
Meanwhile, its market share stands at 16 percent of
organised market and capex stands at Rs 85 crore for FY15.
2:30 pm Buzzing:
Metal stocks like Hindalco and Tata Steel are also up 2-3 percent with the
index gaining 2.4 percent. The new found love for metal stocks is because the
cabinet is likely to take up Land and Mining ordinances this week which may
give Centre few discretionary powers over states.
The mining ordinance may give the Central government
discretionary powers over states incase they take too long to renew or give
licences for mining and introduce strong penalties in case of any wrongdoings.
The mining ordinance is to do with amendments to MMRDA Act.
Kotak has upgraded Sesa Sterlite to buy from a reduce
rating. The brokerage has set a target price of Rs 250 on the stock, stating
that Sesa Sterlite is likely to gain most from the coal mining auctions.
L&T up 1% on Rs 894 cr order; Morgan Stanley says need more
The market gives up some of its gains, but still holding
firm. The Sensex is up 165.21 points at 27406.99 and the Nifty up 50.30 points
at 8251. About 1682 shares have advanced, 1067 shares declined, and 119 shares
are unchanged.
Sesa Sterlite is up 4 percent. Other gainers are Hindalco,
Coal India, Tata Steel and Tata Motors. Axis Bank, M&M and ICICI Bank are
in red.
As stock market authorities prepare a new framework for
risk-based supervision of various
market entities, top exchanges BSE and NSE have extended the
deadline for brokers to submit necessary details for putting in place this new
model. The two exchanges had earlier asked their members to provide necessary
details by December 24 for this risk-based supervision module.
Meanwhile, the economy is expected to grow "much
better" in 2015-16 as compared with the current financial year, Finance
Minister Arun Jaitley said. The Indian economy grew by 5.3 percent in the
September quarter from a year earlier, and is expected to grow 5.5 percent in
the current financial year that ends on March 31. More information please visit
this site www.bigprofitbuzz.com
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