Tussle Between Bulls and Bears

Tussle Between Bulls and Bears

May 02, 2017 | 06:37 PM IST

daily market news 13 june

Share Market News 02 May 2017

Todays market opened positive and ended flat due to profit booking and Federal Reserve policy is due on 3rd May 2017. Sensex gained 2.78 points to 29921.18; Nifty gained 9.75 points to 9313.80.

Top Gainers

Indiabulls Housing Finance by 5.71% to 1075.05, HDFC by 3.15% to 1585.55, BPCL by 3.07% to 741.30, ONGC by 2.81% to 191.80 And Maruti by 2.53% to 6690.

Top Losers

Lupin by 2.57% to 1303.90, Tata Motors DVR by 2.48% to 273.05, ACC by 2.12% to 1592, Bharti Airtel by 2.11% to 348 And Tata Motors by 1.83% to 150.50.

Key Market Drivers

RERA (The Real Estate Regulation Authority) came into effect from May 1. Nine states and five union territories have implemented RERA fully, while 14 states and union territories have implemented only the draft policy. The government is very strong in terms of improving discipline and bringing transparency in the real estate sector. However, RERA may bring in consolidation in the industry because many small developers may not have processes and resources to take on the challenges that RERA will throw at them like compliance, having huge resources etc.

The US Federal Reserve is expected to keep the interest rate unchanged as the rate-setting committee is still waiting to see to what extent Trump administration policies on tax, regulation and spending will be able to make it through Congress (USA Parliament). Since the last meeting, economic data has been mixed. As the consumers have resorted to calculated spendings the economy grew at a sluggish 0.7% annual pace in the first quarter.

Share Market Tips - Stocks to Watch

Indiabulls Housing Finance is on the upside while Lupin is on the downside.

Indiabulls Housing Finance is currently trading at Rs.1075.05, up by Rs.58.10 or 5.71% from its previous closing of Rs 1016.95 on the NSE. The scrip opened at Rs.1024.20 and has touched a high and low of Rs 1080 and Rs 1020.10 respectively. So far 3691916(NSE) shares were traded on the counter. The current market cap of the Company is Rs.43114 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.1080 on 02-May-2017 and a 52 week low of Rs.616.05 on 27-December-2016.

Lupin is currently trading at Rs.1303.90, down by Rs.34.45 or 2.57% from its previous closing of Rs.1338.35 on the NSE The scrip opened at Rs.1354 and has touched a high and low of Rs.1360 and Rs.1300.05 respectively. So far 1289018(NSE) shares were traded on the counter. The current market cap of the company is Rs.60444 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.1750 on 18-July-2016 and a 52 week low of Rs.1300.05 on 02-May-2017.

 

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

Nifty Above 10,500 As IT & Metals Shine

Our Analysis Better than expected WPI inflation data, Corporate earnings especially IT giant TCS & higher metal commodity prices helped Indian market to rally for 9th successive days
Read More>>

Go For A Credit Card! It’s An Asset Not A Liability

Cash is messy. You have to carry a big stash of cash with you wherever you go. After making transactions, you have to carry coins and a bigger wad of notes of lower denomination. While making petty purchases, if you can't tender exact cash, it
Read More>>

Share Market News: Today's Nifty & Sensex Updates

Share Market News
Read More>>

Best Stocks To Buy For Long Term Investment

Note - We have updated this Long Term Investment article to suit the current market
Read More>>

Market Ready To Take Off; Last Call For Investors

Our Analysis With every positive trigger like better CPI inflation, strong Industrial output & easing of US-China trade war
Read More>>