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.

 

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