Bull Run Continues, Market At Its All-Time High

Share Market News 5 June-2017

Todays market opened positive due to positive news from the global market but traded in a narrow range in the afternoon session but ended its all-time high. Consumer durable gained the most. Sensex Gained 36.20 points to 31309.49; Nifty Gained 21.60 points to 9675.

Top Gainers

Indiabulls Housing Finance by 3.46% to 1171.05, Yes Bank by 2.67% to 1521.35, TCS by 1.99% to 2616, IOC by 1.84% to 422.45 And Infratel by 1.57% to 380.55.

Top Losers

Coal India by 1.58% to 264.55, Ultratech Cement by 1.43% to 4180, GAIL by 1.11% to 397.90, INFY by 1.08% to 959 And Lupin by 0.96% to 1155.

Analysis of Top Gainer and Loser

Indiabulls Housing Finance Limited is the top gainer of today's market due to ICRA, A Moodys Investor Service Company, has upgraded the long-term rating of (IBHFL) to [ICRA] AAA, from its earlier assigned rating of [ICRA] AA+ it also mentioned that the outlook on the long-term rating is Stable. And this is the positive news for the company as this is considered to have the highest degree of safety regarding timely servicing of financial obligations.

Coal India is the top loser of today's market due to the National Company Law Appellate Tribunal has stayed the decision of the competition commission to impose Rs. 591 crore penalty on Coal India for unfair business practices as CCI had imposed a fine of Rs. 591 crore on Coal India Ltd. (CIL) for discriminatory conditions in fuel supply pacts.

Key Market News

According to Global Retail Development Index (GRDI), India has surpassed China to secure the top position among 30 developing countries on ease of doing business as rapidly expanding economy, relaxation of FDI rules and rapid urbanisation and a growing middle class with higher income levels are driving up consumption across the country as the key drivers.

According to the report, the cement industry will grow at 6-7% in the current fiscal with government's focus on infrastructure development being a key driver of demand and normal monsoons, increased focus and outlay for agriculture, infrastructure as well as affordable housing and thrust on the construction of cement concrete roads as demand boosters. Apart from this, the launch of smart cities and urban infrastructure development along with the implementation of GST will also bring opportunities for growth for the sector.

Stocks to Watch

Kirloskar Industries is on the upside while Madhucon Projects is on the downside.

Kirloskar Industries is currently trading at Rs. 1226.65, up by Rs.111.50 or 10% from its previous closing of Rs 1115.15 on the NSE. The scrip opened at Rs.1125 and has touched a high and low of Rs 1226.65 and Rs 1106.respectively. So far 2449(NSE) shares were traded on the counter. The current market cap of the Company is Rs.1180 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.1621.90 on 07-April-2017 and a 52 week low of Rs.627 on 03-June-2016

Madhucon Projects is currently trading at Rs.41.65, down by Rs.10.05 or 19.44% from its previous closing of Rs.51.70 on the NSE. The scrip opened at Rs 49.75 and has touched a high and low of Rs.19.90 and Rs.41.40 respectively. So far 1722166(BSE) shares were traded on the counter. The current market cap of the company is Rs.308 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.65.40 on 17-April-2017 and a 52 week low of Rs.33 on 23-November-2016.