Banks & Metals’ Boost Sent Nifty Above 9850
Aug 23, 2017 | 22:03 PM IST
Aug 23, 2017 | 22:03 PM IST
Share Market News 23 August 2017
Today's market opened gap down due to profit booking that was seen in consumer durables and FMCG counter but market gained momentum in last hour as huge buying was seen in banks and metals sector stocks. Small cap and midcap also gained in today's market. Sensex gained 276.16 points to 31568.01, Nifty gained 86.95 points to 9852.50.
Top Gainers
Indiabulls Housing Finance by 3.90% to 1222.20, Bharti Airtel by 2.70% to 433.50, Tata Steel by 2.53% to 635.25, Adani Ports by 2.49% to 385 and Vedanta by 2.41% to 300.15.
Top Losers
Tech Mahindra by 1.74% to 431.70, Tata Power by 1.69% to 78.70, Infratel by 1.29% to 382.85, Eicher Motors by 1.28% to 30580.15 and Hindustan Unilever by 0.80% to 1190.
Analysis Of Top Gainer & Loser
Indiabulls Housing Finance is the top gainer in today's market due to a huge buying in this stock as the price is trading at an all-time high range as a few days back it presented very good numbers for the first quarter.
Tech Mahindra is the top loser in today's market due to profit booking as the stock has been in the downtrend and the stock is trading at the resistance level.
Key Market News-
Tata power renewable business presented outstanding numbers for the first quarter as net consolidated profit increased by 339% to 142 crores compared to first quarter of previous year.
There is very positive news for micro finance institutions (NBFC-MFIs) as it has grown 26% during the first quarter of the current fiscal over the same quarter of last year according to the latest industry report.
Stocks to Watch
Indian Metals is on the upside while Quess Corp is on the downside.
Indian Metals is currently trading at Rs.559.70, up by Rs.93.25 or 19.99% from its previous closing of Rs.466.45 on the NSE. The scrip opened at Rs.472.85 and has touched a high and low of Rs.559.70 and Rs.472. respectively. So far 841469(NSE) shares were traded on the counter. The current market cap of the company is Rs.1518 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.827 on 21-March-2017 and a 52 week low of Rs.145 on 03-August-2017.
Quess Corp is currently trading at Rs.810.25, down by Rs.59.45 or 6.84% from its previous closing of Rs.869.10 on the NSE. The scrip opened at Rs.850 and has touched a high and low of Rs.868.80 and Rs.801.15 respectively. So far 391627(NSE) shares were traded on the counter. The current market cap of the company is Rs.10261 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.970 On 18-July-2017 and a 52 week low of Rs.505.60 on 16-August-2016.
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