Sensex Holds 32000; Banks Top Gainers

Sensex Holds 32000; Banks Top Gainers

Jul 13, 2017 | 06:28 PM IST

Sensex Holds 32000; Banks Top Gainers

Share Market News 13 July 2017
Todays Market opened Gap up due CPI inflation has reduced 1.54 due to decrease in food items like vegetables, pulses and milk products as per numbers presented yesterday and positive cues global market boosted the market to the life time high level on both indexes. Banks and FMCG sector were the top gainer in today's market due to decreased inflation. Sensex gained 57.73 points to 31804.82; Nifty gained 30.05 points to 9816.10.

Top Gainers

Yes Bank By 4.33% to 1581.10, ITC By 3.16% to 339.25, Hindalco by 2.39% to 205.40, Bharti Airtel by 1.98% to 403.95 And Indiabulls Housing Finance By 1.81% to 1227.70.

Top Losers

IOC by 2.69% to 382.05, ONGC by 2.36% to 159, Infratel by 2.09% to 411.50, Asian Paints by 1.01% to 1122.25 And Eicher Motors by 0.86% to 28015.15.

Analysis of Top Gainer and Loser

Yes Bank is the Top Gainer in today's market due to bank is going to use digitise platform for its retail loan business to eliminate paper usage for cost cutting via using technology. The complete loan process would be completed in less than 30 minutes over the next six months.This move will improve automation and increase overall profit margin to the bank. IOC is the top loser in today's market as company going to sale stake in company in next t acquisition is going to affect the business of company. Stock is trading at strong support level.

Key Market News-

There is positive news on inflation front as CPI(Retail) Inflation is reducedto 1.54 to its low level and this would helpful to RBI to cut interest rate in coming days. However The key concern RBI has mentioned to status quo on interest rate i.e. Monsoon uncertainty, 7th Pay Commission by central Govt. Effect GST, Farm loan waivers. IIP numbers are also to its three months low level but this can be adjustments happened due to in the GST.

Stocks to Watch

Majesco is on the upside while IOC is on the downside.

Majesco is currently trading at Rs.367,up by Rs.47.65 or 14.92% from its previous closing of Rs.319.35 on the NSE. The scrip opened at Rs.323.10 and has touched a high and low of Rs. 373.90 and Rs.319.respectively. So far 2156543(NSE) shares were traded on the counter. The current market cap of the company is Rs.857 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.576.30 on 25-July-2016 and a 52 week low of Rs.303.30 on 07-July-2017

IOC is currently trading at Rs.380.95, down by Rs.11.65 or 2.97% from its previous closing of Rs.392.60 on the NSE. The scrip opened at Rs 393.90 and has touched a high and low of Rs.396 and Rs.377.60 respectively. So far 7539774(NSE) shares were traded on the counter. The current market cap of the company is Rs.184888 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.450.90 On 16-May-2017 and a 52 week low of Rs 235.60 on 18-July-2016.

 

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