Bulls Charged. Nifty Rested Above 9750

Jul 10, 2017 | 06:19 PM IST

Bulls Charged Nifty Rested Above 9750

Share Market News – 10.07.17.

Today’s market opened positive on positive global cues in technical havoc on NSE and reopened around 12.30. Nifty and sensex reached it all time high level after successful breakout. AU small finance bank has successfully listed as it has gained around 48% in opening day. IT and Banks stocks zoomed in todays market. Sensex gained 355.01 points to 31715.364; Nifty gained 105.25 points to 9771.05.

Top Gainers

TCS By 4.22% to 2430.30, Bank of Baroda By 2.40% to 164.40, Tata Motors by 2.09% to 446, Tata Power by 2.08% to 83.40 And Lupin By 2.05% to 1140.15.

Top Losers

M&M by 1.38% to 1357, HDFC by 0.32% to 1624, ITC by 0.21% to 333.60, Eicher Motors by 0.19% to 27800.05 And HDFC Bank by 0.01% to 1667.

Analysis of Top Gainer and Loser

TCS is the Top Gainer in today's market as company likely to given an interim dividend to the equity shareholders if approved by the board . As company is going to declare it in board meeting which is going to held on 13th July 2017.

M&M is the top loser in today's market due to pressurised number presented by company in FY 2016-17 by two wheeler segment. Company is going to phase out hybrid car production and it has temporarily closed hybrid Scorpio production due higher taxation in GST.

Key Market News-

India's steel consumption increased by 4.6% in the first quarter of the current fiscal compared to same period in 2016. Country's steel exports increased by nearly 66% in the April-June period due to rising production in country for sale purpose. There positive news for MSME sector as Indian Railway is going to reserve 358 items i.e. cleaning apparatus, stationery, leather items exclusively for MSME sector. Special status is given to this sector in lie of exempting in paying tender cost and earnest money deposit for participating into the railway tender.

Stocks to Watch

MT Educare is on the upside while Shriram City is on the downside.

MT Educare is currently trading at Rs.80.60, up by Rs.13.40 or 19.94% from its previous closing of Rs.67.20 on the NSE. The scrip opened at Rs.74.95 and has touched a high and low of Rs. 80.60 and Rs.74.95. respectively. So far 392413(NSE) shares were traded on the counter. The current market cap of the company is Rs.317 Crore. The BSE/NSE group stock has touched a 52 week high of Rs. 171.80 on 07-July-2016 and a 52 week low of Rs.59 on 23-May-2017

Shriram City is currently trading at Rs. 2330.30, down by Rs.161.75 or 6.49% from its previous closing of Rs.2492.05 on the NSE. The scrip opened at Rs 2399.95 and has touched a high and low of Rs.2399.95 and Rs.2299 respectively. So far 15943(NSE) shares were traded on the counter. The current market cap of the company is Rs.15352 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.2616.40 On 05-July-2017 and a 52 week low of Rs 1644.65 on 15-November-2016.

 

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