Selling Pressure Continues; Small Cap Top Loser

Share Market News 25 September 2017

The market opened downside as selling pressure continues because of the global cues and panic selling was seen in each and every sector but the positive news is that stock-specific rally continued in the market. Sensex lost 295.81 points to 31626.63, Nifty lost 91.80 points to 9872.60.

Top Gainers

Tata power by 1.99% to 82, Coal India by 1.46% to 257.50, ZEEL by 0.84% to 526.10, ICICI Bank by 0.78% to 279.25 and Hindustan Unilever by 0.70 to 1247.

Top Losers

ACC by 4.85% to 3.57, Aurobindo Pharma by 3.41% to 699.50, Adani Ports by 3.33% to 387.85, Ambuja Cement by 2.78% to 262.40 and Ultratech Cement by 2.52% to 3899.

Analysis of Top Gainer and Loser

Tata Power is the top gainer in today's market as the stock's volume increased due to Tata Powers Jojobera quality circle teams have received a prestigious 3 gold awards by Quality Circle Forum of India.

ACC is the top loser in today's market as profit booking was seeing from last 5 trading sessions in stock as its price is at the resistance level.

Key Market News-

The big news for the market is 1) tension created by North Korea in the world. 2) the US fed has given an indication that there would be another rate hike in this year and this is creating pressure on the Indian currency as well as Indian government fiscal stimulus which could increase the fiscal deficit.

Foreign Institutional Investors (FII) have been net sellers in Indian market due to higher valuation of the market.

Stocks to Watch

Tata Power is on the upside while ACC is on the downside.

Tata Power is currently trading at Rs.81.85, up by Rs.1.45 or 1.80% from its previous closing of Rs.80.40 on the BSE. The scrip opened at Rs.81.70 and has touched a high and low of Rs.82.50 and Rs.80.35. respectively. So far 9668182 (NSE) shares were traded on the counter. The current market cap of the company is Rs.22165 Crore. The BSE group stock has touched a 52 week high of Rs.91.15 on 29-March-2017 and a 52 week low of Rs.67. on 11-November-2016.

ACC is currently trading at Rs.1632.65, down by Rs.55.65 or 3.30% from its previous closing of Rs.1888.30 on the NSE. The scrip opened at Rs.1688 and has touched a high and low of Rs.1692 and Rs.1625 respectively. So far 604045 (NSE) shares were traded on the counter. The current market cap of the company is Rs.30640 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.1869.95 On 19-September-2017 and a 52 week low of Rs.1256.55 on 22-November-2016.