Small & Midcap Gained In A Range-Bound Market

Share Market News 07 Aug 2017

Todays market opened flat and traded in very tight range as some profit booking was seen in IT and pharma sector stocks also buying was seen in oil and gas and consumer durables sector stocks. Sensex lost 51.74 points to 32273.67; Nifty lost 9 points to 10057.40.

Top Gainers

Tata steel By 4.33% to 600.80, IOC 2.64% to 430, SBIN by 1.75% to 310.60, Adani Port by 1.64% to 413.30 And BPCl By 1.55% to 525.95.

Top Losers

Infratel by 1.86% to 399, Tata Motors DVR by 1.78% to 250.45, INFY by 1.75% to 966.50, NTPC by 1.75% to 174.25 And Dr.Reddy by 1.68% to 2202.

Analysis of Top Gainer and Loser

Tata Steel is the top gainer in today's market stock has been trading at 52 weeks higher level as the first quarter result to be announced today itself and many analysts have a bullish view on the result.

Infratel is the top loser in today's market due to normal profit booking was seen in the stock as the price is trading at a resistance level but the stock still has potential to give more returns in future.

Key Market News-

There is possibility of government imposing an anti-dumping duty on a certain variety of Chinese pneumatic radial tyres to protect domestic players from cheap imports because Automotive Tyre Manufacturers' Association (ATMA) had filed an application on behalf of Apollo Tyres, J K Tyre Industries and Ceat Ltd to start of anti-dumping investigation and imposition of the duty concerning imports.

Dr. Lal Path labs presented good numbers today as the consolidated net profit increased 11% to Rs. 44.4 crore for the quarter ended June 30 compared to 40 crores in the last fiscal. Consolidated total income has also increased to Rs. 256.8 crore compared to Rs. 229.2 crore for the same period a year ago.

Stocks to Watch

Sarda Energy is on the upside while HDIL is on the downside.

Sarda Energy is currently trading at Rs.343.55, up by Rs.57.25 or 20% from its previous closing of Rs.286.30 on the NSE. The scrip opened at Rs.309.95 and has touched a high and low of Rs. 343.55 and Rs.308.70. respectively. So far 1101805(NSE) shares were traded on the counter. The current market cap of the company is Rs.1248 Crore. The BSE/NSE group stock has touched a 52 week high of Rs. 343.55 on 07-August-2017 and a 52 week low of Rs.126.30 on 17-August-2016.

HDIL is currently trading at Rs.69.25, down by Rs.6.50 or 8.58% from its previous closing of Rs.75.75 on the NSE. The scrip opened at Rs 75 and has touched a high and low of Rs.75.40 and Rs.68.50 respectively. So far 36543682(NSE) shares were traded on the counter. The current market cap of the company is Rs.3009 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.102.65 On 09-September-2016 and a 52 week low of Rs 52.30 on 27-December-2016.