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 Ltd.by 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.

 

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

LEAVE A COMMENT

RECOMMENDED READING

Sparkling Diwali Offer: Flat 15% Off On Our Stock Recommendation Services

Stock investment has the potential to outperform all the investment instruments be it fixed deposits, real estate or even gold. Stock market, over the years, has made significant contribution in creating wealth for working
Read More>>

Stop! Read Before You Invest In These Trending Stock Market Tips

Various popular stock market news portals and TV channels discuss trending stocks and provide free tips but without in-depth research. We create well-researched equity analysis on these trending stock tips in a single place so you don't waste your
Read More>>

How To Choose The Right Brokerage Firm

The first step of your equity investment is to open your demat account. The demat accounts service is provided by banks e.g. ICICI, SBI etc. and also by independent brokerage firms e.g ShareKhan, Angel Broking, etc. The charges for providing the
Read More>>

Nifty Goes Green! Back To 10,000; Set To Go Higher

Market This Week The market recovered from the bottom and it has succeeded to climb 1,000 points this week as huge buying was seen in almost all the sector especially in
Read More>>

Stock Specific Rally Continue; Oil & Gas Top Gainers

Share Market News – 11 October 2017 The market opened positive but profit booking was seen in the market in an afternoon session and nifty closed below 10000 level but a huge buying was seen in oil and gas sector. Sensex
Read More>>