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.

 

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

Sparkling Diwali Offer: Flat 15% Off On Our Stock Recommendation Services

Stock investment has the potential to outperform all the investment instruments be it fixed deposits, real estate or even gold. Stock market, over the years, has made significant contribution in creating wealth for working
Read More>>

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>>

How To Choose The Right Brokerage Firm

The first step of your equity investment is to open your demat account. The demat accounts service is provided by banks e.g. ICICI, SBI etc. and also by independent brokerage firms e.g ShareKhan, Angel Broking, etc. The charges for providing the
Read More>>

Nifty Goes Green! Back To 10,000; Set To Go Higher

Market This Week The market recovered from the bottom and it has succeeded to climb 1,000 points this week as huge buying was seen in almost all the sector especially in
Read More>>

Stock Specific Rally Continue; Oil & Gas Top Gainers

Share Market News – 11 October 2017 The market opened positive but profit booking was seen in the market in an afternoon session and nifty closed below 10000 level but a huge buying was seen in oil and gas sector. Sensex
Read More>>