03:30 pm Market
closing
After a sluggish day, the market ended on a flat note. The
Sensex ended up 33.17 points at 27241.78 and the Nifty was up 26.60 points at
8200.70. About 1406 shares have advanced, 1427 shares declined, and 126 shares
are unchanged.
TCS, HDFC, L&T, Hindalco and Sun Pharma are top gainers
in the Sensex. The top losers are Maruti, BHEL, ITC, HUL and Cipla.
03:00pm Market Update
The Sensex fell 39.51 points to 27169.10 while the Nifty
rose 1.80 points to 8175.90. The market breadth was negative as declining shares
outnumbered advancing ones by a ratio of 1401 to 1294 on the Bombay Stock
Exchange.
Gujarat Gas, Reliance Capital, State Bank of India, Union
Bank of India, Bank of India and Tata Steel were most active shares on
exchanges.
02:45pm Interview
RB Kabra, President, HSIL said the company has plans to pare
its long-term debt by raising capital worth Rs 250 crore. The current debt for
the company including the working capital stands at Rs 950 crore, out of which
Rs 550 crore is long-term debt and Rs 400 crore is working capital debt.
The company plans to raise capital in the next few weeks,
said Kabra.
The company has also scaled down the overall revenue growth
outlook from 20 percent to 15 percent. The lower growth forecast was on back of
a drop in a business category which they have now exited, said Kabra. The
building products business would grow at around 16-18 percent but the packaging
product would continue to do well this year.
Talking about the market share he said, with the total
ceramic sanitary ware market being divided in to two parts, organised and
unorganised, the company per se has 40 percent market share out of the overall
60 percent organised market.
Meanwhile, Kabra said the company will continue its focus on
premium products because customers nowadays prefer aesthetically better looking
products.
02:25pm Nikkei update
Japanese stocks ticked up today, with sentiment buoyed by
bullish expectations for 2015 helping to overcome slight losses from
profit-taking in the morning session.
The Nikkei benchmark closed up 0.1 percent at 17,818.96 in
quiet trade. The average added 1.1 percent over the holiday-shortened week,
which saw the thinnest trade volume since May.
Market heavyweight Fanuc Corp added 0.4 percent, accounting
for a third of the Nikkei's overall gains.
The broader Topix gained 0.4 percent to 1,427.50, while the
JPX-Nikkei Index 400 gained 0.3 percent to 12,693.12, reports Reuters.
02:00pm Market Check
Equity benchmarks continued to be rangebound with the Sensex
falling 53.04 points to 27155.57 and the Nifty losing 2.70 points to 8171.40.
About 1231 shares have advanced, 1369 shares declined, and 132 shares are
unchanged.
The volumes were abysmal today with cash market volumes at
less than Rs 6,000 crore.
UR Bhatt of Dalton Capital expects the Nifty to be in the
range of 7900-8300 till the Budget and public sector banks could be the big
gainers of 2015.
In the largecap space, ITC, Zee Entertainment, ICICI Bank,
Grasim, Maruti Suzuki, Tata Motors and BHEL fell 0.9-1.3 percent whereas Jindal
Steel and DLF topped the buying list on Nifty, up 2.5-3 percent. HCL
Technologies, Hindalco, Tech Mahindra, Sesa Sterlite, Infosys, HDFC and TCS
gained 0.6-1.6 percent.
The rupee continued to slip on month end dollar demand,
trading at 63.65 to the dollar versus a close of 63.51 on Wednesday. Dollar
inflows are likely to pick up only next week.
In important news in the telecom space today, Bharti Airtel
decided to charge higher tarriff for voice over internet protocol (VOIP), said
it would charge VOIP players 16 times the rate of normal data pack charges.
Telecom minister Ravi Shankar Prasad said the government will look into it and
come back with a structured response. More information please visit this site www.bigprofitbuzz.com
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