Profit Booking Continue; Nifty Hold 10,300

Share Market News 08 November 2017

The market opened positive but a huge profit booking was seen in the market in all the sector in the afternoon session. Despite profit booking in the market, IT index was up as buying was seen in these stocks. Sensex lost 151.95 points to 33218.81, Nifty lost 47 points to 10303.20.

Top Gainers

Tech Mahindra by 4.14% to 490, Axis Bank by 3.91% to 547.75, Asian Paints by 2.33% to 1168, Cipla by 2.21% to 621 and Sun Pharma by 2.16% to 539.

Top Losers

Vedanta by 3.65% to 323.45, Bharti Airtel by 3.51% to 496.30, Tata Motors By 2.51% to 440.50, Lupin by 2.37% to 839.50 and Yes Bank by 2.34% to 304.40.

Analysis of Top Gainer and Loser

Tech Mahindra is the top gainer in today's market as the price was at the resistance level and fresh buying was seen in this stock.

Vedanta is the top loser in today's market as profit booking was seen as the price was at the resistance level.

Key Market News-

A huge selling was seen in the market as crude oil prices have been rising in the world market and some pressure was seen in the from metals sector stocks as most of the stocks were down due profit booking.

Ashok Leyland presented good numbers this quarter as net profit of the company grew by 13.5% to Rs.334.2 crores against Rs.294.4 crore same quarter last year. Revenues increased 30.8% to Rs 6,047 crore against Rs.4,622.4 crore reported in the same quarter last year.

Stocks to Watch

HCL Tech is on the upside while Lupin is on the downside.

HCL Tech is currently trading at Rs. 878.60, up by Rs.1.85 or 0.21% from its previous closing of Rs. 876.75 on the BSE. The scrip opened at Rs.882 and has touched a high and low of Rs.884.75 and Rs. 865.35. respectively. So far 1910907(NSE) shares were traded on the counter.

The current market cap of the company is Rs. 121990 Crore. The BSE group stock has touched a 52 week high of Rs.943 on 23-October-2017 and a 52 week low of Rs.736 on 27-April-2016.

Lupin is currently trading at Rs.12540687, down by Rs.18.65 or 2.17% from its previous closing of Rs.859.90 on the NSE. The scrip opened at Rs.862 and has touched a high and low of Rs.882 and Rs.836.70 respectively. So far 12540687(NSE) shares were traded on the counter. The current market cap of the company is Rs.38069 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.1728.25 On 27-July-2017 and a 52 week low of Rs.836.70 on 08-November-2017.