Market Goes On A Roller Coaster Ride
Apr 18, 2017 | 18:40 PM IST
Apr 18, 2017 | 18:40 PM IST
Stock Market News 18th April 2017
It was a roller-coaster ride today as the market opened positive and gained almost century in a Nifty and double century in Sensex, but ended in negative due to correction in global markets as geopolitical tensions are on the rise. Sensex lost 94.56 points to 29319.10, Nifty lost 34.15 points to 9105.15.
Top Gainers
Aurobindo Pharma by 1.85% to 664.90, NTPC by 1.48% to 161.65, IOC by 1.33% to 430.10, Hindalco by 1.30% to 183.80 and Bank of Baroda 0.65% to 177.10.
Top Losers
Tata steel by 3.01% to 448.50, Infratel by 2.79% to 334.75, Ambuja cement by 2.75% to 240.05, Eicher motors by 2.51% to 25469.95 and Coal India by 2.31% to 279.20
Key Market Drivers
The White House indicated in an elaborate press briefing this week that the H-1B visa lottery system is likely to end this year and a new program with an emphasis on masters degrees and high skills is likely to be enforced.
Skymet, a private monsoon forecasting agency has predicted monsoons arrival in Kerala between May 28 and May 30, and also predicted the monsoon is likely to be 96 percent of the long-period average. Poor rains can shrink the rural economy, cut food output and stoke prices. When rains are in the adequate quantity, they usually raise farm income and rural demand for consumer goods, which gives a big boost to the economy.
Stocks To Watch- Adani Enterprises is on the upside while Tata Steel is on the downside.
Stock View
Adani Enterprises is currently trading at Rs.144.15, up by Rs.20.80 or 16.86% from its previous closing of Rs 123.35 on the NSE
The scrip opened at Rs.144.15 and has touched a high and low of Rs 160.50 and Rs 124.00 respectively. So far 34,526(NSE) shares were traded on the counter. The current market cap of the Company is Rs.15,936.25 Crore.
The BSE/NSE group stock has touched a 52 week high of Rs.160.70 on 17-April-2017 and a 52 week low of Rs.58.35 on 09-November-2017.
Tata Steel is currently trading at Rs.448.50, down by Rs.11.80 or 2.55% from its previous closing of Rs.462.05/462.40 on the BSE/NSE
The scrip opened at Rs.449.90 and has touched a high and low of Rs.475.90 and Rs.449.25 respectively. So far 18,820 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs.43,728.98 Crore.
The BSE/NSE group stock has touched a 52 week high of Rs.508.75 on 17-April-2017 and a 52 week low of Rs.296.30 on 24-June-2016.
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