Sectorial Tussle in the Market
May 23, 2017 | 18:26 PM IST
May 23, 2017 | 18:26 PM IST
Share Market News - 23 May 2017
Today market opened negative due to huge selling pressure in pharma and reality sector stocks but market stabilised due to buying in automobile companies. Adani ports down 5% due to cautious news about company's future. Sensex lost 205.72 points to 30365.25; Nifty lost 52.10 points to 9386.15.
Top Gainers
Maruti by 2.48% to 6867.95, M&M by 1.69% to 1328.35, Eicher Motors by 1.43% to 27578.05, Wipro by 0.90% to 525.90 And HCL Tech by 0.86% to 864.85.
Top Losers
Adani Ports 6.71% to 330.65, Aurobindo Pharma by 6.11% to 540, Cipla by 5.35% to 532.95, Sun Pharma by 3.87% to 615.35 And Bajaj Auto by 3.49% to 2812.50.
Key Market News
There is positive news for core sector companies, according to International Stainless Steel Forum (ISSF), India has reached ahead of Japan to become the second-largest stainless steel producer in the world after China. India's stainless steel production rose to 3.32 million tonne for 2016 showing an impressive growth of about 9% over 3 million tonnes in 2015.
Watch Videocon Industries as it is trading 20% lower circuit from last 2 trading sessions.
Share Market Investment Ideas - Stocks to Watch
SREI Infrastructure Finance is on the upside while Videocon Industries is on the downside.
SREI Infrastructure Finance is currently trading at Rs.102.15, up by Rs.4.90 or 5.04% from its previous closing of Rs 97.25 on the NSE. The scrip opened at Rs.97.25 and has touched a high and low of Rs 103.50 and Rs 94.35.respectively. So far 2185988(NSE) shares were traded on the counter. The current market cap of the Company is Rs.5128 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.116.40 on 15-May-2017 and a 52 week low of Rs.42.35 on 24-May-2016.
Videocon Industries is currently trading at Rs.65.60, down by Rs.16.35 or 19.95% from its previous closing of Rs.81.95 on the NSE The scrip opened at Rs.65.60 and has touched a high and low of Rs.64.80 and Rs.64.80 respectively. So far 168655(NSE) shares were traded on the counter. The current market cap of the company is Rs.2167 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.114.90 on 06-Octomber -2016 and a 52 week low of Rs.64.80 on 23-May-2017.
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