Market Rallied to Its all Time High, Auto Sector is the Top Gainer

Market Rallied to Its all Time High, Auto Sector is the Top Gainer

Jul 11, 2017 | 06:43 PM IST

Market Rallied to Its all Time High

Share Market News 11 July 2017

Bulls ruled the today's market as market opened positve and rallied to its all time high level despite terror attack on Amarnath Pilgrimage bus in Jammu and Kashmir. IT and auto sector stocks were the top gainer in todays market due to good rally seen in world market in tecnology sector stocks. Sensex gained 31.45 points to 31747.09; Nifty gained 15 points to 9786.05.

Top Gainers

Bajaj Auto By 2.47% to 2798.05, BPCL By 2.30% to 679.95, Hindalco by 2.30% to 200.30, INFY by 2.25% to 978.60 And Tata Motors By 2.15% to 456.55.

Top Losers

Bharti Airtel by 2.77% to 394.45, Bank of Baroda by 2.67% to 162.15, Cipla by 1.77% to 539.50, Wipro by 1.58% to 264 And Aurobindo Pharma by 1.47% to 699.

Analysis of Top Gainer and Loser

Bajaj Auto is the Top Gainer in todays market as price is at strong support level in strong uptrend pattern. Stock was tanked in previous week over sluggish number on monthly basis but stock has potential to give more returns in coming future.

Bharti Airtel is the top loser in today's market due to increasing uncertainty in the alliance of Bharati airtel and Tata group over the debt of Rs. 30,000 crore and modest 48 million subscribers of Tatas mobile service business.

Key Market News-

To Starting with the earnings session for the first quarter of FY 17-18 Indusind bank has made a blokbuster entry as Profit for the quarter increased by 26.5%(YOY) to Rs 836.55 crore,growth driven mainly by other income, net interest income and operating income. Net interest income has grew by 30.8% to Rs 1,774.06 crore YoY, with loan growth of 24%.

There is positive news for dairy products and agri products busineses as According to The OECD-FAO Agricultural Outlook 2017-2026, India will be the world's largest milk producer by 2026 and India is going biggest producer of wheat by 2026.

Stocks to Watch

NECC is on the upside while Bharti Airtel is on the downside.

NECC is currently trading at Rs.53.70, up by Rs.7.25 or 15.61% from its previous closing of Rs.46.45 on the NSE. The scrip opened at Rs.46.25 and has touched a high and low of Rs. 55.40 and Rs.46.05. respectively. So far 1568512(NSE) shares were traded on the counter. The current market cap of the company is Rs.269 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.111.20 on 07-February-2017 and a 52 week low of Rs.33.50 on 18-July-2016

Bharti Airtel is currently trading at Rs. 395.45, down by Rs.10.25 or 2.53% from its previous closing of Rs.405.70 on the NSE. The scrip opened at Rs 404.15 and has touched a high and low of Rs.408.90 and Rs.393.45 respectively. So far 5565524(NSE) shares were traded on the counter. The current market cap of the company is Rs.157857 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.410.15 On 10-July-2017 and a 52 week low of Rs 283.05 on 09-November-2016.

 

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