Crude Oil Price Issue Drags The Market Down; Nifty Holds 10,100

Share Market News 15 November 2017

The market opened in negative and continued to trade in negative. In the afternoon session, huge selling pressure was seen, but late recovery helped the market to cover some losses which helped Nifty to close above 10100. Sensex lost 181.43 points to 32760.44, Nifty lost 68.45 points to 10118.05.

Top Gainers

BPCL by 2.83% to 507, Asian Paint by 2.42% to 1183, Ambuja Cement by 2.27% to 277.50, Tech Mahindra by 1.66% to 496, Eicher Motors by 1.46% to 30530.

Top Losers

Infratel by 4.17% to 380.40, Sun Pharma by 4.09% to 504.55, VEDL by 4.03% to 296.50, UPL by 2.89% 721.25, Hindalco by 2.82% to 253.65.

Analysis of Top Gainer and Loser

BPCL is the top gainer in today's market as the price is at a good level and a huge buying was seen in the market.

Infratel is the top loser in today's market after the parent company reduced its equity stake in the company through a secondary share sale. The sale was for a total consideration of over Rs.3,325 crore (USD 510 Million) and was executed at a price of Rs.400.6 per share, representing a discount of 3.6 percent to the previous days closing price.

Key Market News

Godrej Industries has presented a very good numbers for the second quarter as its profit has increased about 53% for the second quarter on year on year basis due to increase in sales and management is positive about coming quarter result.

The biggest news for today's market was Indias trade deficit came at $14.02 billion in October, highest since November 2014, from $8.98 billion in the previous month. Oil imports in the month of October rose by more than 27% as compared to previous fiscal, while total exports fell by 1.1% year-on-year to $ 23.10 billion, while the total imports surged 7.6% at $ 37.12 billion. The jewellery imports rose by 24.5% in October to $ 2.31 billion, while the non-oil imports were at $ 27.83 billion up 2.2% year-on-year.

Stocks to Watch

BPCL is on the upside while Infratel is on the downside.

BPCL is currently trading at Rs.507, up by Rs.13.95 or 2.83% from its previous closing of Rs.493.05 on the NSE. The scrip opened at Rs.495 and has touched a high and low of Rs.508.80 and Rs.495, respectively. So far 4117602(NSE) shares were traded on the counter. The current market cap of the company is Rs.109,558.11

Infratel is currently trading at Rs.394.75, down by Rs.20.75 or 4.99% from its previous closing of Rs.415.50 on the NSE. The scrip opened at Rs.406 and has touched a high and low of Rs.406.40 and Rs.391.50 respectively. So far 131335426(NSE) shares were traded on the counter. The current market cap of the company is Rs.72,874.56 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.482.80 On 17-October-2017 and a 52 week low of Rs.281.75 on 28-February-2017.