MARKETS LIVE: Indices flat; Nifty hovers around 10,500 ahead of F&O expiry

The benchmark indices were trading marginally higher tracking positive trend seen in Asian markets after they rallied to a one-month high. 

Gains were, however, capped as sentiment remained cautious ahead of the F&O expiry of December series due later today. 

Meanwhile, The Centre looks set to breach the fiscal deficit target this year, with lower-than-expected revenue prompting it to go for additional borrowing of Rs 50,000 crore from the market. 

The borrowing is over and above the budget estimate of Rs 5.80 lakh crore for 2017-18, which would lead to the government missing its fiscal deficit target of 3.2 per cent of the gross domestic product (GDP) for the first time in four years.

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CAPITALSTARS CLOSING BELL:27 DEC 2017

CS CLOSING BELL:

NIFTY SPOT DOWN 54 @10476

SENSEX DOWN 142 @ 33867

BANK NIFTY FUTURES DOWN 193 @ 25480

HAVE A NICE DAY!!!!!!

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Investors rush to mutual funds; asset base grows over Rs 6 trillion

In a big surge, mutual funds have added over Rs 6 lakh crore to their asset base in 2017 and the uptrend is likely to continue in the new year, helped by a spirited promotion campaign by the industry and post- demonetisation resurgence of financial investment products.

The industry is looking at an increase of nearly 40 per cent to the total asset under management (AUM) as the year 2017 draws to a close, after attaining a record level of Rs 23 lakh crore at November-end itself -- up from Rs 16.46 lakh crore at the end of December 2016. The investor count is also estimated to have risen by over 1.7 crore during the year.

Moreover, the fund houses are expecting similar 'healthy' growth in AUM to continue in the new year as the penetration levels of mutual funds are still very low in the country and various reform measures initiated by the regulator Sebi should help too.

In 2017, the total asset base of all 42 active fund houses put together has surged by an impressive about 40 per cent. The growth was 24 per cent over the last five years.

The industry's AUM had crossed the milestone of Rs 10 lakh crore for the first time in May 2014 and in a short span of about three-and-a-half years, the asset base shot up more than two-fold to Rs 23 lakh crore in November-end.

This would be the fifth consecutive yearly rise in the industry AUM, after a drop seen for the two preceding years.

The spike in bank deposits and consequent decline in interest rates following demonetisation on November 8, 2016 has also helped mutual funds.

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Jio launches Happy New Year 2018 plans

Reliance Jio is launching two new plans under its Happy New Year 2018 on Friday night with higher data benefits for its subscribers, according to industry sources.

The Rs 199 plan provides free voice, unlimited data (1.2 GB high speed 4G data per day), unlimited SMS and subscription to Premium Jio Apps for all Jio Prime Members for 28 days.

While for high data users, the company is launching Rs 299 plan that will offer free voice, unlimited data (2 GB high speed 4G data per day), unlimited SMS and access to Premium Jio Apps for all Jio Prime Members for 28 days.

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