Profit Booking Dragged the Market Down; Nifty Holds 10,350

Profit Booking Dragged the Market Down; Nifty Holds 10,350

Nov 07, 2017 | 06:06 PM IST

Profit Booking Dragged the Market Down

Share Market News 07 November 2017

The market opened positive but a huge profit booking was seen in the market in all the sectors in the afternoon session. Despite profit booking, IT index was up 2.22%. Sensex lost 360.43 points to 33370.76, Nifty lost 101.60 points to 10350.20.

Top Gainers

HCL Tech by 3.78% to 877, HPCL by 2.98% to 447, INFY by 2.87% to 955.35, Tech Mahindra by 2.51% to 472 and TCS by 1.67 to 2710.

Top Losers

Lupin by 16.86% to 860.25, Cipla by 7.11% to 608.25, SBIN By 3.57% to 317.25, Bharti Airtel by 3.37% to 514.60 and UPL by 3.31% to 736.70.

Analysis of Top Gainer and Loser

HCL Tech is the top gainer in today's market as the price was at the support level and a huge buying was in this stock.

Lupin is the top loser in today's market as the company has received a warning letter from USFDA to manufacturing facilities at Goa and Indore (Pithampur Unit II).

Key Market News-

A huge selling was seen in the market as crude oil prices have been rising in the world market and pharma stocks have also put pressure on the index.

Cipla presented outstanding number as a profit grew of 17.7% for the quarter ended September 2017. Revenue from the operations grew 8.8% to Rs.4,082 crore in July-September quarter, compared with Rs.3,751 crore in the corresponding period driven by strong operational performance and other income.

Stocks to Watch

HCL Tech is on the upside while Lupin is on the downside.

HCL Tech is currently trading at Rs. 876.75, up by Rs. 31.70 or 3.75% from its previous closing of Rs. 845.05 on the BSE. The scrip opened at Rs.850 and has touched a high and low of Rs.880 and Rs. 844.30. respectively. So far 2980306(NSE) shares were traded on the counter. The current market cap of the company is Rs.121941 Crore. The BSE group stock has touched a 52 week high of Rs.943 on 23-October-2017 and a 52 week low of Rs.736 on 27-April-2016.

Lupin is currently trading at Rs.859.90, down by Rs.174.65 or 16.88% from its previous closing of Rs.1034.55 on the NSE. The scrip opened at Rs.1037 and has touched a high and low of Rs.1041 and Rs.845.45 respectively. So far 25028579(NSE) shares were traded on the counter. The current market cap of the company is Rs.38880 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.1728.25 On 27-July-2017 and a 52 week low of Rs.845.45 on 07-November-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

Nifty Above 10,500 As IT & Metals Shine

Our Analysis Better than expected WPI inflation data, Corporate earnings especially IT giant TCS & higher metal commodity prices helped Indian market to rally for 9th successive days
Read More>>

Go For A Credit Card! It’s An Asset Not A Liability

Cash is messy. You have to carry a big stash of cash with you wherever you go. After making transactions, you have to carry coins and a bigger wad of notes of lower denomination. While making petty purchases, if you can't tender exact cash, it
Read More>>

Share Market News: Today's Nifty & Sensex Updates

Share Market News
Read More>>

Best Stocks To Buy For Long Term Investment

Note - We have updated this Long Term Investment article to suit the current market
Read More>>

Market Ready To Take Off; Last Call For Investors

Our Analysis With every positive trigger like better CPI inflation, strong Industrial output & easing of US-China trade war
Read More>>