Market Negative But Indiabulls Real Estate Rallied 42% Up

Apr 18, 2017 | 12:02 PM IST

Stock Market News - 17th April 2017

Today's market opened positive but ended negatively despite good WPI numbers. Sensex lost 47.79 points to 29413.66, Nifty lost 11.50 points to 9139.30

Top Gainers

GAIL by 4.37% to 396.30, Grasim by 2.31% to 1074.90, Reliance by 1.95% to 1391.45, Indiabulls housing finance by 1.72% to 973.25 and Powergrid 1.10% to 202.20.

Top Losers

Infratel by 3.22% to 343.60, NTPC by 3.01% to 159.70, Bosh ltd by 2.64% to 22657.75, Sun pharma by 2.49% to 675.50 and Coal india by 1.94% to 285.40

Key Market Drivers

Inflation based on the wholesale price index dropped to 5.70% in March as manufactured goods showed cost slump even as food prices hardened. The WPI inflation, reflecting the annual rate of price rise, in February, was 6.55%.

Shares of Indiabulls Real Estate surged over 42 percent intraday on Monday as investors placed positive bets following the company's announcement of a restructuring exercise.The company further outlined that it may consider REIT listing in India and was looking at statutory changes for the same.

Starting the divestment process for the current financial year, the government has cleared the sale of stakes in multiple state-owned companies. It will be selling 15 percent in NLC India, 10 percent stake each in PFC, SAIL, NTPC & NHPC, 5 percent in REC, and 3 percent in IOC via offer for sale.

Share Market Tips:

Stock to Watch: TCS is on the upside while REC is on the downside.

Stock View:

TCS is currently trading at Rs.2,326.00, up by Rs.11.15 or 0.49% from its previous closing of Rs.2314.85 on the NSE

The scrip opened at Rs.2325.00 and has touched a high and low of Rs.2331.65 and Rs.2318.80 respectively. So far 2781 (NSE) shares were traded on the counter. The current market cap of the company is Rs.458,321.54 Crores.

The BSE/NSE group stock has touched a 52 week high of Rs.2744.80 on 17-April-2017 and a 52 week low of Rs.2051.90 on 17-April-2017.

REC is currently trading at Rs.201.80, down by Rs.0.95 or 0.47% from its previous closing of Rs.201.5 (BSE), 201.4 (NSE)

The scrip opened at Rs.201.80 and has touched a high and low of Rs.204.65 and Rs.200.50 respectively. So far 2,960 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs.39,646.48

The BSE/NSE group stock has touched a 52 week high of Rs.216.25 on 17-April-2017 and a 52 week low of Rs.76.40 on 17-April-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

Metals Shine Despite Profit Booking Bumps; Nifty Below 9500

Share Market News – 28 June 2017 Today’s market opened negative on normal profit booking and negative global cues ahead of monthly F&O expiry, however, metal stocks shined as
Read More>>

FMCG In Green Amid Profit Booking Frenzy

Share Market News – 27 June 2017 Today’s market opened negative on normal profit booking as Nifty rallied 5.40 from last 3 months. FMCG sector settles in green despite profit
Read More>>

PSU Banks Tanked 2.1%; Profit Booking Dragged The Market Down

Share Market News – 23 June 2017 Today’s market opened positive on positive global cues but profit booking pulled the market down ahead of GST rollout on 1st July and falling
Read More>>

Dear Nvestors, Questions YOU Need To Ask

We are heading into an exciting time. The side-effects of demonetisation are behind us and the new tax reform–GST is all set to be rolled out. As an investor, you need to understand the impact of these developments on your investment and day-to-day
Read More>>

GST Impact: Logistic Sector Biggest Gainer

Market this Week The market looked cautious this week as most of the stocks were feeling the heat of the moment and coming down slowly. Retail investors looked like on seller
Read More>>