Market Rallied Amid Geopolitical Tension; Banks Gained

Share Market News 16 August 2017.

Today's market opened positive factoring to positive global cues but profit booking was seen in mid session of the market, however, a great rally was seen in afternoon session due to huge buying in FMCG and bank stocks. Sensex gained 321.86 points to 31770.89, Nifty gained 103.15 points to 9897.30.

Top Gainers

Tech Mahindra by 4.43% to 420, Cipla by 3.76% to 591.50, Tata Motors by 3.60% to 388.90, Bank of Baroda by 3.30% to 146.95 and Tata Power by 3.08% to 82.

Top Losers

Power Grid by 1.32% to 219.80, Asian Paints by 1.21% to 1140, Yes Bank by 0.99% to 1760.95, NTPC by 0.93% to 170.15 and Ultratech Cement by 0.72% to 3932.

Analysis Of Top Gainer & Loser

Tech Mahindra is the Top Gainer because the price is at a strong support level and due to that a huge buying was seen in the stock.

Power Grid is the top Loser in today's market because of profit booking as the price is at the resistance level.

Key Market News-

There is a positive news on steel production front as the production has increased by 4.6% to 8.45 million tonnes (MT) in July compared to the output of 8.082 MT of crude steel in the last year same period.

Grasim Industries reported good numbers as consolidated net profit for the first quarter increased by 9.47 to Rs.1,248 on the back of rising sales. Total income has risen by 8.18% this quarter to Rs.11,222 crore against Rs.10,373 crore last year.

Stocks to Watch

Radico Khaitan is on the upside while Sanghvi Movers is on the downside.

Radico Khaitan is currently trading at Rs.161.50, up by Rs.17.20 or 11.92% from its previous closing of Rs.144.30 on the NSE. The scrip opened at Rs.144.55 and has touched a high and low of Rs.164.30 and Rs.142.75. respectively. So far 2273167(NSE) shares were traded on the counter. The current market cap of the company is Rs.2142 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.164.30 on 16-August-2017 and a 52 week low of Rs.83.55 on 11-August-2016.

Sanghvi Movers is currently trading at Rs.141.75, down by Rs.12.90 or 8.34% from its previous closing of Rs.154.75 on the NSE. The scrip opened at Rs 156.15 and has touched a high and low of Rs.156.80 and Rs.140.40 respectively. So far 247580(NSE) shares were traded on the counter. The current market cap of the company is Rs.619 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.280.50 On 12-August-2016 and a 52 week low of Rs. 140.40 on 16-August-2017.