Bulls Charge Ahead; Sensex Gain 275 Points

Bulls Charge Ahead; Sensex Gain 275 Points

Bulls Charge Ahead

Share Market News 12 September 2017

Today's market opened positive because of decreasing tension between North Korea and the USA and positive buying seen in the global market. Healthcare and Oil sectors were the top gainers in the market. Production activity increased in July with increased consumer inflation. Sensex gained 276.50 points to 32158.66, Nifty gained 87 points to 10093.

Top Gainers

BPCL by 4.36% to 534.60, GAIL by 3.85% to 410, Tata Motors by 3.53% to 388.55, Bank Of Baroda by 3.46% to 142.20 and Sun Pharma by 3.42% to 483.45.

Top Losers

IndusInd Bank by 2.86% to 1740, Wipro by 1.06% to 297.95, Hero Motocorp by 0.78% to 3913.80, ONGC by 162.05% to 162.05 and Powergrid by 0.51% to 214.50.

Analysis of Top Gainer and Loser

BPCL is the top gainer in today's market due to the company got the Maharatna Status from the government earlier the company had Navratna status.

IndusInd Bank is the top Loser in today's market due to profit booking that was seen in stock as the price is at the resistance level.

Key Market News-

CPI numbers came today and it's higher than expected as everyone was expecting a CPI Inflation would be 3.20% but actual number came is 3.36% on monthly basis due to an increase in food prices and higher services costs in GSTs resulting inflationary impact.

Indias industrial output (IIP) increased by 1.2% in July compared to the 0.1% in June due to increased production as companies producing fresh inventories after clearing up the stock in the previous month ahead of GSTs rollout. The manufacturing sector grew 0.1%, Infrastructure or construction goods grew 3.7% in July and consumer non-durables jumped 3.4% in July.

Stocks to Watch

Bajaj Steel is on the upside while Kamat Hotels is on the downside.

Bajaj Steel is currently trading at Rs.162.35, up by Rs.27.05 or 19.99% from its previous closing of Rs.135.30 on the BSE. The scrip opened at Rs.132 and has touched a high and low of Rs.162.35 and Rs.132. respectively. So far 19986 BSE) shares were traded on the counter. The current market cap of the company is Rs.38 Crore. The BSE group stock has touched a 52 week high of Rs.172 on 28-April-2017 and a 52 week low of Rs.117.50 on 11-August-2017.

Kamat Hotels is currently trading at Rs.92.25, down by Rs.10.20 or 9.96% from its previous closing of Rs.102.45 on the NSE. The scrip opened at Rs.103 and has touched a high and low of Rs.903 and Rs.92.25 respectively. So far 1095210(NSE) shares were traded on the counter. The current market cap of the company is Rs.222 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.104.70 On 11-September-2017 and a 52 week low of Rs.25.30 on 23-November-2016.

 

ABOUT AUTHOR

Niveza Editorial Desk : We are a team of stock market nerds trying to stay ahead of the herd. We spend our grey cells everyday to a pave a smooth road for our clients in the shaky world of stock market. While tracking the mood swings of the market we bring our clients the most rewarding deals.

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