Nifty Hovering Around 10,000; Consumer Durable Top Gainer

Oct 09, 2017 | 04:15 PM IST

Share Market News – 09 October 2017

The market opened positive and Nifty had crossed 10,000 level but profit booking was seen in an afternoon session and the market traded in a very narrow range. Despite sluggishness in the market, the consumer durables rallied in a market. Sensex gained 32.67 points to 31846.89, Nifty gained 9.05 points to 9988.75.

Top Gainers

Yes Bank by 1.69% to 372, Tech Mahindra by 1.50% to 463.70, Coal India by 1.46% to 280.75, Dr.Reddy by 1.43% to 2409.85 and Hindustan Unilever by 1.26 to 1222.50.

Top Losers

Aurobindo Pharma by 2.21% to 729.55,ONGC by 1.75% to 170.80,Powergrid by 1.73% to 201.20, GAIL by 1.60% to 445.45 and BPCL by 1.57% to 481.90.

Analysis of Top Gainer and Loser

Yes Bank is the top gainer in today's market as the stock has been gaining momentum from last 4 days as some of the rating agencies have maintained the overweight rating on this stock.

Aurobindo Pharma 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-

There is positive news from IMF, sovereign debt of India is projected to reduce over the next few years with projections for 2017, 2018, 2019 and 2020 being at 67.8%, 66%, 64% and 62% respectively despite the slowdown in GDP rate due to demonetization and GST roll-out. And If it goes below 60% of GDP then India's ratings will also increase in coming days by rating agencies.

There is optimist statement from RBI governor that the growth will pick- up up to 7% in coming quarters as The Nikkei India Services PMI Business Activity Index rose more than 3% in September over August and the core sector IIP (Index of Industrial Production) saw a 4.9% rise in August, The sales of auto and two-wheeler in increasing from last few quarters.

Stocks to Watch

SBI is on the upside while Aurobindo Pharma is on the downside.

SBI is currently trading at Rs.256.85, up by Rs.0.10 or 0.04% from its previous closing of Rs.256.75 on the BSE. The scrip opened at Rs.256.80 and has touched a high and low of Rs.258.60 and Rs.254.25. respectively. So far 8009211(NSE) shares were traded on the counter.

The current market cap of the company is Rs.221412 Crore. The BSE group stock has touched a 52 week high of Rs.315.30 on 19-May-2017 and a 52 week low of Rs.223.20 on 27-July-2016.

Aurobindo Pharma is currently trading at Rs.729.10, down by Rs.16.90 or 2.27% from its previous closing of Rs.746 on the NSE. The scrip opened at Rs.753.80 and has touched a high and low of Rs.756.15 and Rs.725.20 respectively. So far 3113263(NSE) shares were traded on the counter. The current market cap of the company is Rs.42786 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.895 On 06-Octomber-2016 and a 52 week low of Rs.503.05 on 29-May-2017.

 

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