Global Cues Drag The Market Down; Nifty slides below 10,200

Global Cues Drag The Market Down; Nifty slides below 10,200

Global Cues Drag The Market Down

Share Market News 14 November 2017

The market opened negative and traded in a very narrow range despite good numbers presented by some of the companies, the market but a profit booking was seen in an afternoon session. Sensex lost 91.62 points to 32,941.87.56, Nifty lost 38.40 points to 10,186.60.

Top Gainers

Hero Motocorp by 2.10% to 3685 , Axis Bank by 1.91% to 587.60, Reliance 1.40% to 887.50, Bajaj Auto by 1.40% to 3268.00, Bajaj Finance by 1.34% to 1752.

Top Losers

Infratel by 4.99% to 394.75, IOC by 2.48% to 387, LT by 2.38% to 1211, HindPetro by 2.27% 410.55, VEDL by 2.07% to 308.20.

Analysis of Top Gainer and Loser

Hero Motocorp is the top gainer in today's market as the price is at near support 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-

Cadila Healthcare has presented a very good number for the second quarter as its profit has increased about 33% for the second quarter due to increased sales in the US. The management is positive about coming quarter result as the company has launched new medicine in US market and are lined up to launch more generic version medicines.

The biggest news for today's market is that Inflation at the wholesale level rose to 6 months high of 3.89% in October as the prices of food articles, led by Onions & Vegetables rose sharply. Inflation based on the WPI (Wholesale Price Index) was 2.60% in September. Even yesterday CPI (Consumer Price Index) rose up to a 7 Month high of 3.58% on costlier food items, especially vegetables. This is one of the negative news for the market.

Stocks to Watch

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

Vakrangee is currently trading at Rs.649.50, up by Rs.33.25 or 5.40% from its previous closing of Rs.616.25 on the BSE. The scrip opened at Rs.659 and has touched a high and low of Rs.659 and Rs.639.60. respectively. So far 5115474 (NSE) shares were traded on the counter. The current market cap of the company is Rs.34,384.63 Crore. The BSE group stock has touched a 52 week high of Rs.659.00 on 14-November-2017 and a 52 week low of Rs.234.05 on 02-November-2016.

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.

 

 

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 a pave a smooth road for our clients in the shaky world of stock market. While tracking the mood swings of the market we bring our clients the most rewarding deals.

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