Market Down Due To Negative Global Cues; Nifty Holds 9900

Sep 04, 2017 | 06:48 PM IST

Small Midcap Gained In A Range-Bound Market

Share Market News 04 September 2017

Today's market opened negative due to increasing tension over North Korea's Missile test as well as USA Trade sanctions. Metal sector showed it strength in profit booking market as it closed on the positive side. Sensex lost 189.98 points to 31702.25, Nifty lost 61.55 points to 9912.85.

Top Gainers

Coal India by 3.18% to 246.25, Sun Pharma by 2.89% to 500.25, Bosch Ltd by 1.41% to 22480, ONGC by 0.91% to 161.40 and Indiabulls Housing Finance by 0.65% to 1230.35.

Top Losers

IOC by 4.33% to 428.90, Adani Ports by 2.70% to 384.25, ACC by 2.51% to 1772.40, Tata Motors DVR by 2.25% to 219.50 and INFY by 2.17% to 899.95.

Analysis of Top Gainer and Loser

Coal India is the top gainer in today's market after increased August production by 2% and the appointment of new CMD.

IOC is the top loser in today's market due to profit booking was seen in stock as the price is at the resistance level.

Key Market News-

There is cautious news on GDP front as UBS downgraded India's GDP growth rate target to 6.6% comparing to 7.2% previously. It Also emphasizes that the growth would pick up in coming quarters as the economy will normalises GST effect but the structural growth story of the country is intact due to reform push by policymakers and consumption demand on the domestic level.

To attract FDI in India department of industrial policy and promotion (DIPP) is taking pro active role in setting up commercial courts at every district level to improve India's ranking on World Bank's ease of doing business index as this will push foreign investor to invest in India.

Stocks to Watch

Jindal Saw is on the upside while Pradeep Metals is on the downside.

Jindal Saw is currently trading at Rs.108.45, up by Rs.10.95 or 11.23% from its previous closing of Rs.97.50 on the NSE. The scrip opened at Rs.97.55 and has touched a high and low of Rs.110.80 and Rs.95.60. respectively. So far 5752912(NSE) shares were traded on the counter. The current market cap of the company is Rs.3466 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.110.80 on 04-September-2017 and a 52 week low of Rs.44.75 on 02-September-2017.

Pradeep Metals is currently trading at Rs.57.10, down by Rs.6 or 9.51% from its previous closing of Rs.63.10 on the NSE. The scrip opened at Rs.66 and has touched a high and low of Rs.66 and Rs.57 respectively. So far 13654(BSE) shares were traded on the counter. The current market cap of the company is Rs.98 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.84.95 On 11-April-2017 and a 52 week low of Rs.39 on 12-September-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

Market Snapped 3 Day Losing Streak, IT Stocks Lead

Share Market News – 21-February-2018 The equity market opened on positive note on Wednesday as Sensex gained over 150 points while Nifty was up by 45 points to trade above 10,400 levels. Benchmark Indices traded mildly
Read More>>

Market Falls For 3rd Consecutive Day; Nifty Bank Down

Share Market News – 20-February-2018 The Benchmark indices opened flat on Tuesday as Sensex was up by 50 points while Nifty above 10,400 levels ahead of the expiry of Feb F&O contracts later this week. Benchmark Indices
Read More>>

PSU Banks, Metal Stocks Drag The Market Down; Sensex & Nifty In Red

Share Market News – 19-February-2018 The market started off the week on a negative note on Monday as Sensex was down by 115 points and Nifty fell 45 points due to additional correction in PSU banks. Benchmark indices
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>>

Free Research Report- Uflex

UFLEX Limited is an India-based holding company engaged in the manufacture and sale of flexible packaging products and flexible packaging solutions. The Company's products include printed, laminated, metalized, co-extruded, coated, embossed, plain
Read More>>