Profit Booking Drags The Market; Oil & Gas Top Gainers

Share Market News 19 September 2017

Today's market opened on a positive note but market traded in a very narrow range at a higher level and some profit booking was seen in metals and consumer durables sector. SEBI's update on shell companies was due on 18th of September but SEBI missed the date we will provide an update on the same. Sensex lost 21.39 points to 32402.37, Nifty lost 5.60 points to 10147.50.

Top Gainers

GAIL by 5.43% to 422, Tata Motors by 4.77% to 424.25, Tata Motors DVR by 3.36% to 241.35, Infratel by 2.06% to 397.10, and Kotak Bank by 1.91% to 1036.45.

Top Losers

Coal India by 2.38% to 258.25, Aurobindo Pharma by 2.04% to 746.70, Sun Pharma by 1.26% to 514.50, Hindalco by 1.20% to 246.50 and SBIN by 1.02% to 267.65.

Analysis of Top Gainer and Loser

GAIL is the top gainer in today's market as the price of crude oil is gaining momentum and fresh breakout was seen in stock at the upper level as some of the broking firms upgraded their target.

Coal India is the top loser in today's market due to some profit booking that was seen on the higher level as the stock had rallied in previous trading session over some positive news.

Key Market News-

According to Moddys India, foreign direct investment (FDI) would increase in coming days because reforms carried out by the government and the recent implementation of the goods and services tax and the bankruptcy code.

To double the income of farmers, the center has directed the states to make their own policy and strategy to achieve the target of doubling farmers' income by 2022.

Stocks to Watch

Gail is on the upside while Coal India is on the downside.

Gail is currently trading at Rs.420.85, up by Rs.20.60 or 5.15% from its previous closing of Rs.400.25 on the BSE. The scrip opened at Rs.414 and has touched a high and low of Rs.422.90 and Rs. 409.25. respectively. So far 8927518(NSE) shares were traded on the counter. The current market cap of the company is Rs.71060 Crore. The BSE 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.

Coal India is currently trading at Rs.258.55, down by Rs.6 or 2.27% from its previous closing of Rs.264.55 on the NSE. The scrip opened at Rs.262 and has touched a high and low of Rs.362.95 and Rs.257.10 respectively. So far 5364163(NSE) shares were traded on the counter. The current market cap of the company is Rs.160275 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.349.95 On 17-August-2017 and a 52 week low of Rs.233.70 on 11-August-2016.