Stock Trading Ideas and Market Updates

Market Snippet
Benchmark indices traded lower as the profit booking pulls off the nifty 50 in absence of fresh cues as most global markets halted trading on Monday. The fiscal budget of 2018 is going to be the next major trigger for the domestic equities. Nifty ended the very first trading session of New Year 2018 on bearish note at 10498.70. Realty shares were the major gainers of the day while Private Banks shares were the losers of the day.

Global Markets Update
Most share indices in the Asian were closed today, with trade to resume only after the Year’s weekend. The stronger global economy, as well as domestic political stability and the Bank of Japan’s ultra-easy monetary policy helped lift Japanese corporate earnings in 2017, which in turn helped push the Nikkei up 19.1 percent and the Topix up 19.7 percent. The Nikkei ended the last trading session down 0.08 percent at 22,764.94 points, while the broader Topix was also down 0.08 percent at 1,817.56.

Nifty

Stock Snippets

The country’s largest car maker Maruti Suzuki India (MSI) today reported 10.3 per cent 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 per cent from 1,06,414 units in December 2016.

IndusInd Bank said it has raised USD 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.

SBI has given a new year’s surprise to its customers by reducing lending interest rate by 30 basis points (bps) to 8.65 percent. Base rate reduced from 08.95% p.a. to 8.65% p.a. w.e.f. 01.01.2018. Base rate is the minimum lending rate below which banks cannot lend. This may not make a huge impact on the bank but will help a large number of customers who have borrowed loans at base rate (prior to April 2016).

Mahindra and Mahindra reported an 8 per cent increase in total sales at 39,200 units in December. It had sold 36,464 units in the same month previous year. In the domestic market, sales were up 7 per cent to 36,979 units last month compared to 34,411 units in December 2016. Exports also grew 8 per cent to 2,221 units

Infosys has divested its minority stake from ANSR Consulting Holdings for $1 million. The company had picked up a 5 % stake in the firm in 2015 for $1.4 million, with no board rights. ANSR offers services for establishment and operations of global inhouse centres, captive units of MNCs.

Union Bank of India has invited initial bids from asset reconstruction companies, banks, financial institutions, and non-banking finance companies for the proposed sale of non-performing loans of 17 accounts worth Rs1,287 crore.

Punjab National Bank announced raising interest rates by up to 1.25% on domestic term deposits of up to Rs10cr for different tenures, effective January 1, 2018.

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