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.

 

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