Nifty Closes Above 9800

Jul 12, 2017 | 07:02 PM IST

Share Market News12 July 2017
Today's stock market opened positive due to global cues as well as earnings season. A huge pull back has been observed in midcap stocks as Nifty is on track to cross the 10000 mark in coming days. Oil stocks rallied in today's market due to good recovery of crude oil in global market.
Sensex gained 57.73 points to 31804.82; Nifty gained 30.05 points to 9816.10.

Top Gainers

ACC By 3.22% to 1704, Infratel By 2.71% to 420.95, Ambuja Cement by 2.33% to 261.10, IndiaBulls Housing Finance by 2.32% to 1110.30 and Hindustan Unilever By 2.30% to 1131.90.

Top Losers

TCS by 1.41% to 2441, M&M by 1.02% to 1376, Hero Motocorp by 0.72% to 3721.20, Aurobindo Pharma by 0.71% to 695 And Coal India by 0.39% to 253.50.

Analysis Of Top Gainer & Loser

ACC is the Top Gainer in today's market as some of the rating agencies upgraded the target with overweight rating. Stock has continuously been rallying from last three to four trading days.

TCS is the top loser in today's market as company is going to declare the result on 13th of July and according valuation the numbers will be pressurised due to domestic as well as global slowdown. And the New Start-up Policy of USA which is going to be applicable from 17th July 2017 will keep all IT companies cautious.

Key Market News-

Bajaj Corporation presented a mixed numbers today as 5.30% (YOY) increase in net profit at Rs.54.97 crore against Rs.52.20 crore in last year quarter but total revenue of the company decreased by 7.17% to Rs.197.43 crore during the quarter under review as compared to Rs.212.68 crore in the same period last year.

Another reason for the Indian IT industry to be cautious step is the United States Citizenship and Immigration Services announcing the delay in the “start-up” visa program on Monday.
According to the visa guidelines:
1) Entrepreneurs are eligible to stay statewide with a 30-month renewable visa.
2) Foreign nationals who had begun ventures in the United States, are eligible only if they have received USD 100,000 in government grants or USD 250,000 in venture capital investments.
This move is not good for Indian IT industries.

Stocks To Watch

Rico Auto is on the upside while Balaji Telefilms is on the downside.

Rico Auto is currently trading at Rs.74.50, up by Rs.10.70 or 16.77% from its previous closing of Rs.63.80 on the NSE. The scrip opened at Rs.64 and has touched a high and low of Rs. 76.55 and Rs.64 respectively. So far 11692041 (NSE) shares were traded on the counter. The current market cap of the company is Rs.1009 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.76.55 on 12-July-2017 and a 52 week low of Rs.41 on 19-July-2016

Balaji Telefilms is currently trading at Rs.159.30, down by Rs.12.05 or 7.03% from its previous closing of Rs.171.35 on the NSE. The scrip opened at Rs 170.65 and has touched a high and low of Rs.173.40 and Rs.157.10 respectively. So far 2056318(NSE) shares were traded on the counter. The current market cap of the company is Rs.1206 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.177.45 On 11-July-2017 and a 52 week low of Rs 73.60 on 23-November-2016.

 

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

Stop! Read Before You Invest In These Trending Stock Market Tips

Various popular stock market news portals and TV channels discuss trending stocks and provide free tips but without in-depth research. We create well-researched equity analysis on these trending stock tips in a single place so you don't waste your
Read More>>

Free Research Report - KNR Constructions Ltd

KNR Construction Ltd (KNRCL) is one of the leading infrastructure company
Read More>>

Moody's Changed The Mood Of The Market; Sensex & Nifty Up

Market This Week The week started with the council meeting of GST where they reduced the GST tax slab of 178 items, especially on daily used items and AC/Non AC restaurants to
Read More>>

How Would You Manage Your Wealth If YOU Were An HNI?

What things come to your mind when you hear High Networth Individual (HNI)? Most likely it will be a fleet or swanky cars, plush mansions, exotic foreign vacations, ivy league education, etc. Right? That's all true! When you have money living a
Read More>>

Negative Streak Ends As Sensex & Nifty Close In Green

Share Market News – 16 November 2017 The market opened on a positive note and continued to trade in the positive range. In the afternoon session, huge buying was seen as
Read More>>