Nifty Back at 10,000; Mid & Small Caps Rallied

Oct 10, 2017 | 03:05 PM IST

Share Market News – 10 October 201

The market opened positive and nifty succeed to cross the 10,000 marks in the opening of the market and closed above 10,000. Despite sluggishness in the market the small-cap and midcap rallied in the market. Sensex gained 77.52 points to 31924.41, Nifty gained 28.25 points to 10017.

Top Gainers

UPL by 3.89% to 823.70, Lupin by 2.22% to 1063, Bharti Airtel by 1.99% to 386.50, Powergrid by 1.89% to 204.75 and IndusInd Bank by 1.68 to 1728.05.

Top Losers

IOC by 1.09% to 409.65, Eicher Motors by 1.08% to 31530, Vedanta Ltd. By 0.93% to 321, Hindustan Unilever by 0.92% to 1209 and Ambuja Cement by 0.91% to 277.70.

Analysis of Top Gainer and Loser

UPL is the top gainer in today's market as the stock has been gaining a momentum as some of the rating agencies have maintained the overweight rating on this stock and price is at the support level.

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

Key Market News-

The jewellery and textile stocks were in focus because GST council has made it easy in the jewelry business and relief for synthetic yarn makers in export-related tax refunds and an inverted tax structure made to the textile business.

There is cautious news for job seekers in the field of IT industry as according to Experis IT Employment Outlook Survey "Indian IT professionals are going to face fewer job opportunities in the next 6 months as traditional roles are increasingly getting disrupted in the wake of automation and digitization".

Stocks to Watch

UPL is on the upside while South Indian Bank is on the downside.

UPL is currently trading at Rs.819.60, up by Rs.26.75 or 3.37% from its previous closing of Rs.792.85 on the BSE. The scrip opened at Rs.792.85 and has touched a high and low of Rs.824 and Rs.792.85. respectively. So far 2664726(NSE) shares were traded on the counter. The current market cap of the company is Rs.41633 Crore. The BSE group stock has touched a 52 week high of Rs.902.50 on 01-August-2017 and a 52 week low of Rs.575.85 on 03-August-2016.

South Indian Bank is currently trading at Rs.30.05, down by Rs.1.95 or 6.09% from its previous closing of Rs.32 on the NSE. The scrip opened at Rs.32.25 and has touched a high and low of Rs.32.25 and Rs.29.35 respectively. So far 78293595(NSE) shares were traded on the counter. The current market cap of the company is Rs.5422 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.32.30 On 09-October-2017 and a 52 week low of Rs.16.75 on 27-December-2016.



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...



Gujarat Election Exit Polls Create A Bull Run

Market This Week: The market continued last week's optimism and started on a positive note. Investors were worried about Gujarat elections and were waiting for some positive news to enter the market again. Exit polls came in
Read More>>

Gujarat Election’s Exit Polls Pushes Sensex Over 195 Points

Share Market News – 14 December 2017 The market opened on a positive note and continued to trade in a mildly positive trend after the US Federal announced a rate hike by 25 bps. During the afternoon session, the
Read More>>

Sensex Loses Over 200 Points, Nifty Closes Below 10,250

Share Market News – 12 December 2017 The market opened on a negative note and continued to trade in negative due to selling pressure was seen on the upper level. During the afternoon session, selling pressure was seen. In
Read More>>

Market Bullish, Make Hay While The Sun Shines

Market This Week Market started on a negative note this week due to the panic caused by the Monetary policy. However, the RBI Governor kept rates unchanged and there weren’t
Read More>>

Free Research Report - Srikalahasthi Pipes Ltd

Srikalahasthi Pipes Ltd has a power generation capacity of 14.5MW, comprising of 12MW waste heat recovery of coke oven plant and 2.5MW captive power plant, which runs on blast gas furnace. Around 75% of the power requirement is internally met,
Read More>>