The 9500 Mark, Conquered! Positive Global Cues Ahead

May 16, 2017 | 06:11 PM IST

Share Market News - 16th May-2017

Today’s market opened Positive and Sensex hit double centuries while Nifty closed above the 9500 mark for the first time. Sensex gained 260.48 points to 30582.60; Nifty gained 66.85 points to 9512.25.

Top Gainers

Hero Motocorp by 3.06% to 3623, ACC by 2.86% to 1730, TCS by 2.54% to 2425.10, Bank of Baroda by 2.49% to 193.50 And Bharti Airtel by 2.43% to 373.

Top Losers

Kotak Bank by 1.65% to 957.20, Indiabull Housing by 1.10% to 1051.10, ONGC by 0.94% to 185, M&M by 0.84% to 1364.15 And ZEEL 0.84% to 521.15.

Key Market News

The SEBI (Securities and Exchange Board) of India will issue fresh guidelines for exchange-traded funds (ETFs) with sectorial indices as the underlying, SEBI is considering applying limits on the weightages of individual companies in the indices. SEBI has halted approvals to new ETFs, other than those with Nifty and Sensex as the underlying, over the last year as it is concerned about the excessive weightage of some stocks in sectorial indices.

Theres increasing optimism in the market, as people are hoping that the various schemes implemented by the Govt will help in boosting economic activity, kick start investment cycle, double agricultural income, increase rural consumption, boost manufacturing, curb the supply of black money. The inclusion of goods & services tax (GST) too supports the prevailing bullish sentiment.

Share Market Tips - Stocks To Watch

Avanti Feeds is on the upside while M&M is on the downside.

Avanti Feeds is currently trading at Rs.1205.85, up by Rs.129 or 11.98% from its previous closing of Rs 1076.85 on the NSE. The scrip opened at Rs.1140 and has touched a high and low of Rs 1249 and Rs 1125 respectively. So far 586950(NSE) shares were traded on the counter. The current market cap of the Company is Rs.4075 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.1249 on 16-May-2017 and a 52 week low of Rs.411 on 09-November-2016.

M&M is currently trading at Rs.1366.35, down by Rs.9.30 or 0.68% from its previous closing of Rs.1375.65 on the NSE The scrip opened at Rs.1377 and has touched a high and low of Rs.1378.50 and Rs.1362.25 respectively. So far 516012(NSE) shares were traded on the counter. The current market cap of the company is Rs.85440 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.1508.80 on 09-August-2016 and a 52 week low of Rs.1141.80 on 01-December-2016.

 

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