Live Market- Sensex up 234 points, Nifty climbs to 10,570

stock investmentLatest Market News- Sensex and Nifty, on Thursday opening hours, trade higher against the previous session’s closing, as firmness in Asian stocks boosted sentiment. Traders will be watch on the WPI data due in the afternoon. The Indian rupee strengthened against the US dollar, tracking gains in the Asian currencies market.

The BSE Sensex was trading higher by 234 points to 34,391 while the NSE Nifty rose 72 points to 10,573 levels in the morning hours.

PNB shares fell further by over 7% following the fraudulent transactions which happened on Wednesday. Idea Cellular has approved a proposal to sell shares via a QIP to raise as much as Rs3,500 crore.

On NSE, shares of Hilando, Vedanta, ICICI bank, Bharti Airtel and Infosys are toppers while shares of Indiabuls HF, Asian paints, Wirpo, Aurbindo Pharma and
Sun pharma are losing.

Nestle India Ltd reported a rise in its net profit of 59.57% to Rs. 311.83 fr, for the Q4 ended December 2017, while Sun Pharma reported a 75% fall in Q3 net profit.

The IPO of Aster DM Healthcare Ltd got 45% subscription, the second day of the share sale.

Stock Market watch out for the week ahead, Monday Nifty Prediction

stock market weekly reportsThe benchmark index of BSE slumped on week ended Friday by 316.41 points to settle below 33K mark to 32,832.94 following the worries on the country’s fiscal deficit
and global risk aspects such as rising crude prices.  The NSE too slipped by 104.75 points to 10,121.80. 

In economic front, India’s gross domestic product (GDP) growth recovered to 6.3% in quarter ended Sept 2017 from a low of 5.7% recorded in the previous quarter ended June 2017.

Week Ahead Expectations: The result of the RBI monetary policy meeting, Global markets, FPIs & DIIs investment volume coupled with Rupee v/s Dollar movement and crude oil price will be some of the factors to dictate the market trend on next week.

The RBI’s monetary policy committee will meet on 5th and 6th December 2017 for the fifth bi-monthly monetary policy decision for the fiscal 2018.

The Gujarat elections will also be expected to get triggered markets directions next week.
In the primary market, hospital operator Shalby Limited is seeking to raise up to Rs 4.8 billion by selling IPO in a price range of Rs 245 to 248 which will be open for subscription between December 5 & 7 December 7.

Meanwhile, Indian logistics Service Future Supply Chain Solution’s IPO to raise up to Rs 6.5 billion will open next week, adding to what has been a record year for IPO sales in the country. The offer will be open for subscription from December.6 to 8, as per notice.