Stock Specific Rally Continues; Market Stable

Share Market News 20 September 2017

The market opened flat and traded in a very narrow range at a higher level but the stock specific rally continued specifically in Pharma, metals and bank sector. Sensex lost 1.86 points to 32400.51, Nifty lost 6.30 points to 10141.20.

Top Gainers

Dr Reddy by 3.72% to 2325, Bank Of Baroda by 2.46% to 148.10, Tata Steel by 1.63% to 687.45, ITC by 1.44% to 271.70, and ONGC by 1.24% to 167.95.

Top Losers

BPCL by 2.45% to 494.50, Hero Motocorp by 2.39% to 3850, Tata Motors by 2.15% to 414.55, Ambuja Cement by 2.12% to 279.05 and Sun Pharma by 1.81% to 506.45.

Analysis of Top Gainer and Loser

Dr.Reddy is the top gainer in today's market due to fresh breakout that was seen in stock at the upper level and some of the broking firms upgraded their target.

BPCL is the top Loser in today's market as Moody's said the BPCL's combined cash flow from operations in FY18 will prove insufficient for their capital spending and dividend payments and has the shortfall of about Rs. 5,000-7,500 crore will be funded by borrowing.

Key Market News-

World Economic Forum survey has mentioned the following risks for world economy - first is unemployment or underemployment, second fiscal crises and the failure of national governance. It has advised the world leaders to take the necessary steps to resolve these issues.

TRAI had cut the termination price for all mobile to mobile calls by more than 50% to 6 paise per minute from 14 paise that is likely to hamper earnings of the telecom companies in the days to come. Due to this development, the pressure was seen in telecom companies in the intraday market.

Stocks to Watch

Dr Reddy is on the upside while Sheela Foam is on the downside.

Dr Reddy is currently trading at Rs.2314.70, up by Rs.73.15 or 3.26% from its previous closing of Rs.2241.55 on the BSE. The scrip opened at Rs.2250 and has touched a high and low of Rs.2329 and Rs.2240. respectively. So far 1333098(NSE) shares were traded on the counter. The current market cap of the company is Rs.38364 Crore. The BSE group stock has touched a 52 week high of Rs.3399 on 28-October-2016 and a 52 week low of Rs.1901.15 on 11-August-2017.

Sheela Foam is currently trading at Rs.1468.90, down by Rs.67.80 or 4.41% from its previous closing of Rs.1536.70 on the NSE. The scrip opened at Rs.1557 and has touched a high and low of Rs.1557 and Rs.1455.80 respectively. So far 5716(NSE) shares were traded on the counter. The current market cap of the company is Rs.7122 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.1589.50 On 19-September-2017 and a 52 week low of Rs.730 on 09-December-2016.