Auto, Realty Stocks Push Market Higher; Nifty Near 10,600
Feb 26, 2018 | 17:17 PM IST
Feb 26, 2018 | 17:17 PM IST
Share Market News 26-February-2018
The equity benchmark began the week on a positive note as Sensex climbed over 100 points while Nifty opened above 10,500, tracked positive Global cues. The equity market extended gains from opening trade as Sensex traded higher by 250 points and Nifty eyed 10,600, led by Nifty Realty, Auto, Private bank Index. Nifty midcap and smallcap gained over half a percent.
In the afternoon session, the market continued to trade higher as Sensex climbed over 250 points while Nifty gained 78 points. Bulls took control in D- Street as Sensex jumped over 320 points while Nifty traded near 10,600. The broader market also traded higher but underperformed the market.
In the last hour of trade, the market strongly traded higher as Sensex remained over 300 points gain while Nifty gained 92 points. The market ended the day on a strong note, marking a continuity in its upward trend for march series. Nifty Auto, Realty, Bank Index led the rally, with Nifty midcap and smallcap also closed in green. Sensex closed 303.60 points up at 34,445.75, Nifty up by 91.55 points at 10,582.60.
Maruti Suzuki by 4.04% to Rs.9,050, Tata Motors by 3.50% to Rs.372.80, L&T by 3.25% to Rs.1,344, IndusInd Bank by 2.91% to Rs.1,691.35, UPL by 2.90% to Rs.720.90.
Sun Pharma by -2.50% to Rs.555.40, TCS by -1.63% to Rs.3,025.60, Tech Mahindra by -1.61 to Rs.611.45, Infosys by -1.36% to Rs.1,139.95, ITC by -1.12% to Rs.266.05.
Analysis Of Top Gainer And Loser
Maruti Suzuki is the top gainer in today's market as after a long consolidation strong buying was seen in the stock. Also, sales of Maruti Suzuki's Nexa branded models have surpassed both Tata Motors and Mahindra between the April 2017 and January 2018 period.
Sun Pharma is the top loser in today's market as investors turned wary of observations issued to its Halol plant by the US drug regulator. USFDA had made three observations after inspecting its factory at Halol in Gujarat, for failing to meet good manufacturing practice standards.
Key Market News
Indias economy grew at its fastest pace in a year in the October-December quarter as consumers, businesses and the government stepped up spending, a Reuters poll predicted. Gross domestic product (GDP) grew 6.9% in the October-December quarter from a year earlier, according to the poll of more than 35 economists, taken over the past week. If the data, due at 5.30 pm on 28 February, matches the consensus, the quarter will have the best growth rate in 2017.
In order to facilitate and encourage participation by retail investors in financially sound companies, BSE today said it has waived the transaction charges on Sensex 30 stocks from March 12. Currently, transaction charges range from Rs 0.50 - 1.5 per trade for securities under group A, B and other non-exclusive scrips.
The Financial Intelligence Unit (FIU) under the finance ministry has released a list of nearly 9500 non-banking financial companies (NBFCs) which have been categorised as 'high-risk financial institutions'. The list released by FIU-India on its website shows the names of NBFCs which have been categorised 'high risk' and found non-compliant to the Prevention of Money Laundering Act (PMLA) rules as on January 31.
Stocks To Watch
Oberoi Realty Ltd. is on the upside while Oriental Bank of Commerce is on the downside.
Oberoi Realty is currently trading at Rs.548.80, up by Rs.67.85 or 14.11% from its previous closing of Rs.480.95 on the NSE. The scrip opened at Rs.481.50 and has touched a high and low of Rs.574.40 and Rs.481.50 respectively. So far 22,95,099 (NSE) shares were traded on the counter. The current market cap of the company is Rs.18,999.05 Crore. The NSE/BSE group stock has touched a 52 week high of Rs.574.40 on 26-February-2018 and a 52 week low of Rs.317.60 on 01-March-2017.
Oriental Bank of Commerce is currently trading at Rs.94.20, down by Rs.11.90 or 11.22% from its previous closing of Rs.106.10 on the NSE. The scrip opened at Rs.99 and has touched a high and low of Rs.99.95 and Rs.92.60 respectively. So far 5,01,28,889 (NSE) shares were traded on the counter. The current market cap of the company is Rs.3,293.81 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.191 on 05-May-2017 and a 52 week low of Rs.92.60 on 26-February-2018.
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 a pave a smooth road for our clients in the shaky world of stock market. While tracking the mood swings of the market we bring our clients the most rewarding deals.
LEAVE A COMMENT
LEAVE A COMMENT
Share Market News –27-March-2018 The Benchmark indices started on a positive on Tuesday, with Sensex rose nearly 200 points & Nif
Share Market News –26-March-2018 The Benchmark indices opened flat as Sensex was down 12 points & Nifty started below 10,000, ami
Share Market News –20-March-2018 The Benchmark indices extended previous day’s losses as Sensex was down by 100 points & Nifty fe
Share Market News –19-March-2018 The Benchmark indices opened the week mildly higher as Sensex added over 50 points & Nifty opene