Stock Specific Rally Continues Despite Huge Selling In The Market

Nov 13, 2017 | 09:55 PM IST

Share Market News – 13 November 2017

The market opened positive and traded in a very narrow range despite some of the companies presented a very good number in the market but a huge profit booking was seen in the afternoon session. Sensex lost 281 points to 33,033.56, Nifty lost 96.80 points to 10,225.

Top Gainers

TCS by 1.76% to 2756.55, M&M by 1.30% to 1411, Sun Pharma by 1.14% to 533.85,UPL by 0.67% to 740 and HPCL by 0.37 to 418.40.

Top Losers

Adani Ports by 4.49% to 412, Aurobindo Pharma by 4.32% to 708.10, ONGC By 3.58% to 184.25, Coal India by 3.52% to 274.35 and Infratel by 3.22% to 413.

Analysis of Top Gainer & Loser

TCS is the top gainer in today's market as the price is at a resistance level and a huge buying was seen in the market.

Adani Ports is the top loser in today's market as the company has presented poor numbers as Adani Group reported a 7.88 percent decline in consolidated net profit and price was at a resistance level and due to that, a huge profit booking was seen in this stock.

Key Market News-

PC Jeweller presented very good numbers for the second quarter as its stand-alone profit has increased about 40% for the second quarter due to increased sales and management is positive about coming quarter result too.

The biggest news for today's market is that 23rd GST council meeting outcome which happened in Guwahati. The Government has reduced GST on 178 items and reduced their tax slabs, which is a positive news for some of the sectors in the market but increasing crude oil prices and pressure on Indian currency is pressurizing the market.

Stocks to Watch

UPL is on the upside while Hindalco is on the downside.

UPL is currently trading at Rs.739, up by Rs.4.55 or 0.62% from its previous closing of Rs.735.10 on the BSE. The scrip opened at Rs.733.70 and has touched a high and low of Rs.744.70 and Rs.724.45. respectively. So far 1294509(NSE) shares were traded on the counter. The current market cap of the company is Rs.37541 Crore. The BSE group stock has touched a 52 week high of Rs.902.50 on 01-August-2017 and a 52 week low of Rs.584.20 on 22-November-2016.

Hindalco is currently trading at Rs.260.90, down by Rs.3.15 or 1.19% from its previous closing of Rs.264.05 on the NSE. The scrip opened at Rs.264 and has touched a high and low of Rs.265.25 and Rs.258 respectively. So far 5439255(NSE) shares were traded on the counter. The current market cap of the company is Rs.58524 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.278.55 On 18-October-2017 and a 52 week low of Rs.147.40 on 27-December-2016.

 

ABOUT AUTHOR

Niveza Editorial Desk : We are a team of stock market nerds trying to stay ahead of the herd. We spend our grey cells everyday to pave a smooth road for our clients in the shaky world of stock market. While...
FULL BIO

LEAVE A COMMENT

RECOMMENDED READING

Gujarat Election Exit Polls Create A Bull Run

Market This Week: The market continued last week's optimism and started on a positive note. Investors were worried about Gujarat elections and were waiting for some positive news to enter the market again. Exit polls came in
Read More>>

Gujarat Election’s Exit Polls Pushes Sensex Over 195 Points

Share Market News – 14 December 2017 The market opened on a positive note and continued to trade in a mildly positive trend after the US Federal announced a rate hike by 25 bps. During the afternoon session, the
Read More>>

Sensex Loses Over 200 Points, Nifty Closes Below 10,250

Share Market News – 12 December 2017 The market opened on a negative note and continued to trade in negative due to selling pressure was seen on the upper level. During the afternoon session, selling pressure was seen. In
Read More>>

Market Bullish, Make Hay While The Sun Shines

Market This Week Market started on a negative note this week due to the panic caused by the Monetary policy. However, the RBI Governor kept rates unchanged and there weren’t
Read More>>

Free Research Report - Srikalahasthi Pipes Ltd

Srikalahasthi Pipes Ltd has a power generation capacity of 14.5MW, comprising of 12MW waste heat recovery of coke oven plant and 2.5MW captive power plant, which runs on blast gas furnace. Around 75% of the power requirement is internally met,
Read More>>