Nifty Holds 9600 Mark Despite Negative Global Cues

Share Market News 21 June 2017

Todays market opened negative on negative global cues and traded in very narrow range but stock specific rally continued in the market. Profit booking was seen in metals sector stocks. Sensex lost 13.89 points to 31283.64; Nifty lost 19.90 points to 9633.60.

Top Gainers

Hindustan Unilever by 3.11% to 1127, Reliance Industries by 1.09% to 1427.75, Maruti by 1% to 7279, Kotak Mahindra Bank by 0.86% to 991.55 And Sun Pharma by 0.85% to 528.25.

Top Losers

ONGC by 2.66% to 164.60, Hindalco by 2.62% to 196.70, Bosch by 2.08% to 24201, GAIL by 1.92% to 368 And Tata Motors by 1.90% to 458.50.

Analysis of Top Gainer and Loser

Hindustan Unilever is the top gainer in today's market as the stock is trading at its all-time high level and delivery based buying was seen in this stock as there is a positive news about better-than-expected march-quarter result.

ONGC is the top loser in today's market as global oil prices hit seven-month lows and it will adversely affect profit margin of the company.

Key Market News-

According to World Steel Association (it represent approximately 85 per cent of the world's steel production, including over 160 steel producers) World crude steel output in May increased marginally by 2% to 143 million tonnes over the same month last year.

There is positive news for banking stock as banks' credit growth grew at 6.02% to Rs. 76,58,212 crore in the fortnight ended June 9 from Rs. 72,22,939 crore in the same period of fiscal 2016 as it is was higher than the previous fortnight ended May 26, 2017.

Stocks to Watch

Bhushan Steel is on the upside while GAIL is on the downside.

Bhushan Steel is currently trading at Rs.76.90, up by Rs.12.75 or 19.88% from its previous closing of Rs. 64.15 on the NSE. The scrip opened at Rs.66.40 and has touched a high and low of Rs. 76.95 and Rs.65. respectively. So far 10694158(NSE) shares were traded on the counter. The current market cap of the company is Rs.1741 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.102.70 on 18-May-2017 and a 52 week low of Rs.36 on 29-September-2016

GAIL is currently trading at Rs.368.25, down by Rs.368.25 or 1.85% from its previous closing of Rs.375 on the NSE. The scrip opened at Rs 375.30 and has touched a high and low of Rs.375.55 and Rs.366.70 respectively. So far 1810446(BSE) shares were traded on the counter. The current market cap of the company is Rs.62299 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.433.70 on 03-May-2017 and a 52 week low of Rs.268.31 on 29-September-2016.