FMCG In Green Amid Profit Booking Frenzy

Share Market News 27 June 2017

Todays market opened negative on normal profit booking as Nifty rallied 5.40 from last 3 months. FMCG sector settles in green despite profit booking seen in each sector. Sensex lost 179.96 points to 30958.25; Nifty lost 63.55 points to 9511.40.

Top Gainers

Indian Oil Corporation by 1.77% to 390.20, GAIL by 1.54% to 359.60, Bharti Airtel by 1.32% to 371.05, ONGC by 1.20% to 160 And Hero MotoCorp by 1.09% to 3700.

Top Losers

Bank of Baroda by 4.20% to 154.10, ACC by 3.73% to 1575.60, Zee Entertainment Enterprise by 3.72% to 490.80, UltraTech Cement by 3.19% to 3871.55 And SBI by 3.10% to 280.

Analysis of Top Gainer and Loser

IOC is the top gainer in today's market as it is benefiting from lower crude prices and increasing profit margin due to overall cost reduction. Growing diesel demand will aid its bottom line.

Bank of Baroda is the top loser in today's market as Stock is in downtrend from last one and half month and trading at strong support level so panic selling was seen in this stock.

Key Market News-

According to sources, the government is working on changing the financial year with the calendar year it could commence from January instead of April as the centre appears to make the historic transition to end the 150-year-old tradition. The government appointed a high-level committee last year to study the feasibility of shifting the financial year to January 1. The panel that was appointed to review the prospects submitted its report to the Finance Minister in December. Madhya Pradesh will become the first state to declared shifting of its financial year format to January-December from 2018.

There is positive news for the semi-skilled or unskilled workforce as World Bank has cleared a USD 250-million loan for making Indian youth more employable through reskilling, in a move that is seen to aid the Skill India Mission. Under the programme, adults in 15-59 years of age, underemployed or unemployed, will get the skill training. The programme will provide placement and entrepreneurship opportunities to women and enhance their exposure to skill training.

Stocks to Watch

Jaiprakash Associates is on the upside while Bank of Baroda is on the downside.

Jaiprakash Associates is currently trading at Rs.21, up by Rs.2.25 or 12% from its previous closing of Rs.18.75 on the NSE. The scrip opened at Rs.19.90 and has touched a high and low of Rs. 22.50 and Rs.19.80. respectively. So far 327188802(NSE) shares were traded on the counter. The current market cap of the company is Rs.5105 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.22.50 on 27-June-2017 and a 52 week low of Rs.6.70 on 25-November-2016

Bank of Baroda is currently trading at Rs.154.85, down by Rs.6 or 4.20% from its previous closing of Rs.160.85 on the NSE. The scrip opened at Rs 160.75 and has touched a high and low of Rs.160.75 and Rs.153.20 respectively. So far 11027711(NSE) shares were traded on the counter. The current market cap of the company is Rs.35765 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.202.50 on 05-May-2017 and a 52 week low of Rs.135.25 on 09-November-2016.