Consumer Durable Shined; Market Stable

Aug 04, 2017 | 06:06 PM IST

Share Market News – 04 August 2017

The market opened negative on profit booking in pharma sector but market gained on a positive side due to a huge buying that was seen in consumer durable stocks. The index gained 4.21% in today's market. Metals and oil and gas sector also gained in today's market. Due to decreasing inflation, increasing FDI inflow and decreasing oil prices rupee has closed to 2 years higher level. Sensex gained 87.53 points to 32325.41; Nifty gained 52.70 points to 10066.40.

Top Gainers

IOC By 8% to 418, BPCl By 5.87% to 518.75, Tata Steel by 3.84% to 580.80, Eicher Motors By 3.17% to 31700 And Coal India By 3.08% to 249.20.

Top Losers

Dr.Reddy by 3.70% to 2338, Tata Power by 2.96% to 80.20, Aurobindo Pharma by 2.24% to 724.70, Sun Pharma by 2.24% to 724.70 And Bosh 1.58% to 24458.05.

Analysis of Top Gainer and Loser

Indian Oil Corporation Limited (IOC) is the Top Gainer in today's market as its numbers beat the estimate of the analysts as it was estimated around 3,063 crore but actual numbers came is Rs. 4,549 crore in first quarter of FY17 compared to Rs. 8,269 last year a 45% down. The new kerosene policy is also going to benefit the profit margin of the company.

Dr Reddy is the top loser in today's market as the stock has been plunging since the bad numbers of the first quarters.

Key Market News-

There is positive news for handloom sector as the government has announced a 6,000 cr subsidy to encourage handloom industry in India and abroad.

PNB presented very good numbers this quarter as it registered 12% increase in net profit at Rs. 343 crores during the first quarter of 2017-18 compared to the net profit of Rs.262 crore last year. Credit growth grew at 6.8% during this quarter.

Stocks to Watch

IOC is on the upside while Biocon is on the downside.

IOC is currently trading at Rs.418.95, up by Rs.31.90 or 8.24% from its previous closing of Rs.387.05 on the NSE. The scrip opened at Rs.395 and has touched a high and low of Rs.426.80 and Rs.393.respectively. So far 15607606(NSE) shares were traded on the counter. The current market cap of the company is Rs.202879 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.450.90 on 15-May-2017 and a 52 week low of Rs.268.65 on 15-August-2016.

BIOCON is currently trading at Rs.357, down by Rs.17.85 or 4.76% from its previous closing of Rs.374.85 on the NSE.The scrip opened at Rs 352.40 and has touched a high and low of Rs.359.60 and Rs.346.50 respectively. So far 9593344(NSE) shares were traded on the counter. The current market cap of the company is Rs. 21441 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.438.85 On 17-July-2017 and a 52 week low of Rs 268.11 on 25-July-2016.



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 pave a smooth road for our clients in the shaky world of stock market. While...



Market Rallied Amid Geopolitical Tension; Banks Gained

Share Market News – 16 August 2017. Today's market opened positive factoring to positive global cues but profit booking was seen in mid session of the market, however, a great
Read More>>

Small and Midcap Rallied Post WPI Data

Share Market News – 14 August 2017 A great recovery has seen in market after bearish run of last 4 trading session specially in Small cap, Midcap and Metals sector stocks.
Read More>>

SEBI's List Left The Market 'Shell' Shocked!

Market This Week The market is below 10,000, yes you a heard it right. There was huge selling seen in this week especially in mid cap and small cap companies because of SEBI
Read More>>

How To Find The Right Stocks For Long-Term Investment

In the stock market, there is a distinction between an investor and a trader. Though both of them use the same medium - stocks - to reach their objective, there remains a sea difference between their style and approach. The investor is the one who
Read More>>

Profit Booking Continues; Nifty Below 9850

Share Market News – 10 August 2017 There was huge selling seen in today's market as yesterday's profit booking continued in each sector especially in midcap and smallcap
Read More>>