Share Market News 13-March-2018

The Benchmark indices opened mildly lower on Tuesday as Sensex dropped 100 points & Nifty opened below 10,400 due to profit booking after yesterdays rally. The equity market gained momentum after moderate opening with Sensex rose over 120 points while Nifty traded above 10,450 levels backed by banks & financial stocks. IT index fell 1% due to sharp fall in TCS. Nifty midcap index also gained 1% & PSU bank index rose 4%.

In the afternoon session, the market wiped out morning gains as Sensex fell over 120 points & Nifty traded below 10,400 amid consolidation. Nifty Bank index turned negative while PSU Bank index trimmed gains to 2% from 5% while midcap outperformed frontlines. The Nifty IT Index fell 1.5%.

In last hour of trade, equity benchmark recovered sharply as Sensex was just down by 10 points while Nifty traded above 10,400, amid volatility. The market closed mixed amid last hour volatility. Nifty PSU bank index gained most as it was up by 2.33% while IT index lost 1.46%. Broader market outperformed as Nifty midcap rose almost 1%. Sensex closed 61.16 points down at 33,856.78, Nifty up by 5.45 points at 10,426.85.

Top Gainers

HindPetro by 4.32% to Rs.382.60, BPCL by 4.05% to Rs.464.85, Infratel by 2.65% to Rs.348.50, GAIL by 2.59% to Rs.458, Sun Pharma by 2.31% to Rs.524.50.

Top Losers

TCS by -5.44% to Rs.2,886.10, KotakBank by -1.62% to Rs.1,082.80, NTPC by -1.26 to Rs.169, Hindalco by -1.08% to Rs.225.20, Ambuja Cement by 0.85% to Rs.238.80.

Analysis Of Top Gainer And Loser

HindPetro is the top gainer in today's market as strong buying was seen in the stock.

TCS is the top loser in today's market as Tata Sons, the promoter of major operating companies of the Tata group was planning to raise around Rs.8,200 crore by selling a stake in the IT major, according to investment banking sources.

Key Market News

Indias retail inflation eased more than estimated, indicating that the seasonal disruptions and one-off items that had pushed inflation upwards to a 17-month high are now starting to turn. CPI inflation in India rose 4.4% in February, according to data released by the Central Statistics Office today. Inflation stood at 5.2% in December and 5.07% in January. Food price inflation was at 3.26% compared to a 4.7% in January. Fuel and light inflation stood at 6.8% in February compared to 7.73% in January.

The index of industrial production rose 7.5% in January over a year ago, according to data from the Ministry of Statistics and Programme Implementation. The growth in December stood at 7.1%. Sixteen of the 23 industry groups in the manufacturing sector showed growth. The use-based classification showed that production of primary goods rose 5.8%, while capital goods output increased 14.6%.

Shares of public sector banks surged on Tuesday, following a media report that Bank of India has recovered nearly Rs.7,000 crore worth Standby Letters of Credit in the last two months & the balance of Rs.2,000 crore would be recovered in another two months.

Stocks To Watch

PC Jeweller Ltd. is on the upside while TCS Ltd. is on the downside.

PC Jeweller is currently trading at Rs.364.40, up by Rs.25.90 or 7.65% from its previous closing of Rs.338.50 on the NSE. The scrip opened at Rs.341.80 & has touched a high & low of Rs.379.80 and Rs.338 respectively. So far 1,18,78,717 (NSE) shares were traded on the counter. The current market cap of the company is Rs.14,362.42 Crore. The NSE/BSE group stock has touched a 52 week high of Rs.600.65 on 16-January-2018 & a 52 week low of Rs.189.38 on 14-March-2017.

TCS is currently trading at Rs.2,886.10, down by Rs.166.05 or 5.44% from its previous closing of Rs.3,052.15 on the NSE. The scrip opened at Rs.2,924.90 & has touched a high and low of Rs.2,939.70 & Rs.2,872 respectively. So far 4,40,33,577 (NSE) shares were traded on the counter. The current market cap of the company is Rs.5,53,698.11 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.3,259.05 on 24-January-2018 and a 52 week low of Rs.2,252.80 on 19-April-2017.