Bulls Ruled the Market, Sensex Rested Above 31000!

Share Market News 26 May 2017

Today's market opened positive due to huge buying in metal sector. Furthermore, the positive news from global markets, as well as domestic cues, helped Sensex and Nifty closed at its all-time high. However, opposite to bull run, Pharma sector Dragged due to domestic as well as USFDA observations concerns. Sensex gained 278.18 points to 31028.21; Nifty gained 85.35 points to 9595.10.

Top Gainers

Tata Steel by 5.49% to 511.30, Vedanta Ltd by 4.15% to 242.25, Hindalco by 4.04% to 198.25, Indiabulls Housing Finance by 3.92% to 1086.55 And BPCL by 3.60% to 753.

Top Losers

Sun Pharma 4.36% to 565.75, IOC by 2.97% to 425.90, Cipla by 2.53% to 491.25, Lupin by 2.47% to 1112 And TCS by 2.08% to 2570.05.

Key Market News

As per the FDI Intelligence India held its No.1 position as world's most preferred destination for FDI investment for the second consecutive year. India has attracting USD 62.3 billion in 2016. India has continued to stay ahead of China and the US as far as FDI inflows were concerned in the last year.

In 2016, FDI by capital investment witnessed a rise of 2% to USD 62.3 billion in 809 projects. Due to the reform measures affirmed by the government which including implementation of GST, approval of inflation targeting, financial inclusion, liberalisation of FDI, steps taken to restrict black money and supporting digitalisation.

ITC presented good numbers today as its standalone net profit increased 12.13% to Rs 2,669.47 crore for the fourth quarter of 2016-17.as compared to net profit of Rs 2,380.68 Crore for the fourth quarter of last fiscal.

Stocks to Watch

Tata Steel is on the upside while Sun Pharma is on the downside.

Tata Steel is currently trading at Rs.511.75, up by Rs.27.05 or 5.58% from its previous closing of Rs 484.70 on the NSE. The scrip opened at Rs.486.90 and has touched a high and low of Rs 514.80 and Rs 485.50.respectively. So far 16240203(NSE) shares were traded on the counter. The current market cap of the Company is Rs.49706 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.514.80 on 26-May-2017 and a 52 week low of Rs.297.40 on 24-June-2016.

Sun Pharma is currently trading at Rs.567.65, down by Rs.23.90 or 4.04% from its previous closing of Rs.591.55 on the NSE. The scrip opened at Rs.590.60 and has touched a high and low of Rs.598.45 and Rs.564.90 respectively. So far 10814562(NSE) shares were traded on the counter. The current market cap of the company is Rs.136411 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.854.50 on 05-August-2016 and a 52 week low of Rs.564.90 on 26-May-2017.