Market Down Due To Profit Booking & Global Cues

May 18, 2017 | 06:28 PM IST

Share Market News - 18th May-2017

Today’s market opened negative and Sensex dragged by double century due to profit booking as well as negative global news. Sensex lost 223.98 points to 30434.79; Nifty lost 96.30 points to 9429.45.

Top Gainers

Wipro by 2.85% to 525.10, TCS by 2.84% to 2525, Infy by 0.78% to 960.25, Sun Pharma by 2.66% to 448.90 And ICICI Bank by 2.25% to 309.45.

Top Losers

Yes Bank by 3.93% to 1397.55, Grasim by 3.74% to 1127.10, Bosch Ltd by 3.68% to 23300, Bank of Baroda by 3.05% to 185.90 And Eicher Motors 3.03% to 28213.

Key Market News

Edelweiss Financial Services presented an outstanding numbers today as 40% increase in its net profit at Rs.170 crores in the fourth quarter ended March 2017, up from Rs.122 crores in Q4 of the previous year and the net profit in FY17 rose by 47% to Rs.609 crores from Rs.414 crores in FY16. The company's board recommended 30 per cent dividend per share.

India's cabinet approved plans to build 10 nuclear reactors with a combined capacity of 7,000 megawatts (MW), more than the country's entire current capacity. This is a positive news for all businesses as well as farmers because it will help to access 24 hour electricity without any interruption.

Stocks to Watch

Avanti Feeds is on the upside while Glenmark Pharma is on the downside.

Avanti Feeds is currently trading at Rs.1378.90, up by Rs.77.10 or 5.92% from its previous closing of Rs.1301.80 on the NSE. The scrip opened at Rs.1280 and has touched a high and low of Rs.1408.40 and Rs.1250. Respectively. So far 587113(NSE) shares were traded on the counter. The current market cap of the Company is Rs.6271 crores. The BSE/NSE group stock has touched a 52 week high of Rs.1408.40 on 18-May-2017 and a 52 week low of Rs.411 on 09-November-2016.

Glenmark Pharma is currently trading at Rs.674.75, down by Rs.23.25 or 3.33% from its previous closing of Rs.698 on the NSE The scrip opened at Rs.691 and has touched a high and low of Rs.697 and Rs.672.50 respectively. So far 3841099(NSE) shares were traded on the counter. The current market cap of the company is Rs.19054 crores. The BSE/NSE group stock has touched a 52 week high of Rs.993 on 01-November-2016 and a 52 week low of Rs.672.50 on 18-May-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 pave a smooth road for our clients in the shaky world of stock market. While...
FULL BIO

LEAVE A COMMENT

RECOMMENDED READING

Niveza Quick Stock Reviews Of The Week

Which stocks to buy and which stocks to let pass? That is the critical question every investor faces on numerous occasions. News portals and channels only add to noise and confusion. Here is a list of the most happening stocks of the week. We have
Read More>>

Banks & Metals' Boost Sent Nifty Above 9850

Share Market News – 23 August 2017 Today's market opened gap down due to profit booking that was seen in consumer durables and FMCG counter but market gained momentum in last
Read More>>

Oil & Gas Outperform In The Range-Bound Market

Share Market News – 22 August 2017 Today's market opened gap up due to the positive closing of global peers but traded in a very narrow range and profit booking was seen in
Read More>>

Infy Spoils The Show; Nifty Below 9850.

Share Market News – 18 August 2017 The market opened positive but Infosys CEO and MD's resignation news slashed the market down and INFY stock itself tanked around 10% in
Read More>>

Metals 'Steel' The Show; Infosys Down

Market This Week This week, a great pull back was seen in the market after last week's downside due to geopolitical tension, profit booking and 'Shell' shock from SEBI. The
Read More>>