Nifty nears 8450, Sensex climbs over 100 pts;

Infosys, ITC fall BHEL, Adani Ports, Coal India, L&T and HDFC are top gainers while HUL, Bharti Airtel, Infosys, Wipro and ITC are losers in the Sensex. 1 Shares of Ajanta Pharma fell as much as 12.35 percent intraday after the company got an import alert from USFDA for selling an unapproved drug in the US from its Aurangabad facility. USFDA notified the import alert on its website on January 20. The import alert falls in the category of 66-41 which relates to marketing or promotion of unapproved products. In this case, Ajanta was found marketing its erectile dysfunction drug Kamarga in United States without proper approvals.

Kamarga uses an active ingredient Sildenafil Citrate (aka viagra).  HCL Tech Q3 net up 2.3%; holds FY17 CC revenue growth at 12-14% The market is holding firm ahead of January Futures and Options (F&O) expiry tomorrow. The Sensex is up 132.57 points or 0.5 percent at 27249.91, and the Nifty up 46.15 points or 0.5 percent at 8437.65. About 1415 shares have advanced, 766 shares declined, and 252 shares are unchanged. BHEL, Adani Ports, Coal India, L&T and HDFC are top gainers while HUL, Bharti Airtel, Infosys, Wipro and ITC are losers in the Sensex. Gold prices drifted lower by 0.17 percent to Rs 28,754 per 10 grams in futures trade today as participants cut their bets amid a weak global trend. Besides, profit-booking by speculators also weighed on gold prices. At Multi Commodity Exchange, gold prices for delivery in February month declined by Rs 49, or 0.17 percent to Rs 28,754 per ten grams in business turnover of 320 lots.

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India Inc needs animal spirit, govt nudge for growth: 

Uday Kotak Confident of India gaining its "rightful place" in coming years on the world stage alongside the US and China, ace banker Uday Kotak has said Indian corporates also need to combine some "animal spirit" with their judicious capital allocation for their own business growth and add to the economy's expansion. |  Confident of India gaining its "rightful place" in coming years on the world stage alongside the US and China, ace banker Uday Kotak has said Indian corporates also need to combine some "animal spirit" with their judicious capital allocation for their own business growth and add to the economy's expansion. 

The Kotak group chief, who has steered one of the most successful banking and financial services sector stories in recent years in India, also favoured nudge from the government and policymakers to the corporates to get that "animal spirit" and said the country should also incentivise delta jobs created in any country. Kotak, who was here to attend the World Economic Forum annual meeting that saw China positioning itself as a new champion of globalisation, told PTI in an interview that India has to take its rightful place over the next 5-10 years and the institutions like his will have to contribute to that journey. On Indian corporates in the past having started to look overseas for expansion through acquisitions, but the process stopping thereafter, Kotak said, 

That also probably because of the reason that they did not necessarily take the best capital decisions and probably our timing was wrong." Asked whether India Inc has learnt its lessons, he said, "I think, it has. The private sector has become more careful and more sort of thoughtful and therefore, we are seeing a slowdown in investments -- both in terms of external investments as well as within India. "To a certain extent, we need to get the balance right between judicious capital allocation with a little bit of animal spirit. At this stage, what I would like to see in India is that a little bit of animal spirit in business and entrepreneurs came back. "A nudge from the government and policymakers that we would love to see growth in businesses and entrepreneurship would certainly be helpful and welcome." He agreed this would also help many from the start-up ecosystem move to the mainstream business arena. Kotak further said this balance between judicious capital allocation and 'animal spirit' would need to be a high focus area as the jobs would finally happen only through successful business growth

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Gold steady as unease with Trump policy weighs on dollar 

Spot gold was mostly unchanged at USD 1,217.42 per ounce by 0337 GMT, after hitting their strongest since November 22 at USD 1,219.59 earlier in the session. Gold prices were steady on Tuesday as the dollar remained under pressure on signs that United States President Donald Trump would adopt a protectionist stance on trade. Spot gold was mostly unchanged at USD 1,217.42 per ounce by 0337 GMT, after hitting their strongest since November 22 at USD 1,219.59 earlier in the session. US gold futures inched up 0.2 percent, to USD 1,218. Trump formally withdrew the US from the Trans-Pacific Partnership trade deal on Monday and told US manufacturing executives he would impose a hefty border tax on firms that import products after moving American factories overseas. "We are looking at gold hitting USD 1,250 within weeks. The rationale is very simple. 

The market  with Trump. With him in power now, the reality starts to bite," said Dominic Schnider of UBS Wealth Management in Hong Kong. "The market starts to realise the euphoria on how he starts to accelerate the growth and is disappointed. Maybe his policies are inflationary rather than growth supportive." Trump's nominee for Treasury Secretary Steven said that an excessively strong dollar was negative in the short term, according to a report by Bloomberg on Monday. That put additional pressure on the dollar. The dollar index, which measures the greenback against a basket of currencies, fell for a third day by 0.2 percent to 99.930. 

Trump's campaign calls for tax cuts and more infrastructure spending have boosted US shares and the dollar, as well as driving a selloff in US Treasury bills, but his protectionist statements and a flurry of off-the-cuff Tweets have kept many investors from adding to risky positions. "Regardless of Trump, the main story for gold is negative interest rates in the US We are not expecting the Fed to raise rates in March and it's just going to be two hikes and that's roughly priced in to the market," Schnider said. Spot gold looks exhausted and may again fail to break a strong resistance at USD 1,219 per ounce before retracing towards a support at USD 1,196, according to Reuters technical analyst Wang Tao. Among other precious metals, silver was flat at USD 17.19 per ounce while platinum gained 0.5 percent, to USD 983.35. Palladium dropped by 0.6 percent to USD 771.80 an ounce, after hitting USD 795.60, its highest since May 2015, in the previous session.

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Will economic compulsions allow for a realty-friendly budget?

The state of the Indian economy, suggests that the government will have to walk a tight rope with the Union Budget 2017-18, amidst forecasts of a slowing economy. Although banks are now flush with R The state of the Indian economy, suggests that the government will have to walk a tight rope with the Union Budget 2017-18, amidst forecasts of a slowing economy. Although banks are now flush with funds, due to the government’s demonetisation drive and limit on the extent of cash withdrawal, the overall effect of the measure has not gone down well, with the health of the economy. The Indian Central Statistics Office, has estimated that economic growth will slow to 7.1% in the current fiscal year ending March 31, 2017. This is slower than the government’s prior estimates and the 7.6% growth, last year. The estimates have been reduced in all the sectors, except agriculture, which has improved due to the positive monsoon season. Analysts, however, warn that these forecasts are toned down, since the real impact will be seen in the upcoming fiscal year.

Moreover, the impact on agriculture will also be visible, as the demonetisation immediately prior to the crop season will take its toll. Similarities with global markets, brings hope to Indian realty The real estate fraternity, nevertheless, remains upbeat and believes that the state of the economy, definitely allows the government to provide relief to the real estate sector and home buyers. They cite the Morgan Stanley report dated December 6, 2016, which suggests that annual Indian property sales is expected to grow, from USD 105 billion in 2015 to USD 462 billion in 2025. Research estimates a 14% compound annual growth rate (CAGR) for property sector demand during 2015-20 (8% volume, 6% pricing) and an 18% CAGR in the five years after that, versus the 12% CAGR (5% volume, 7% price) over the past six years. India in 2015, is also similar to China in 2000-03 on key macro parameters. In the past 15 years, China’s economy and per capita income have quadrupled, urbanisation has doubled and the property segment has grown 10x, to USD 1.3 trillion in annual sales

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