Capital Goods Stocks Rallied; Nifty Reclaims 10,000
Sep 11, 2017 | 17:44 PM IST
Sep 11, 2017 | 17:44 PM IST
Share Market News 11 September 2017
Today's market opened positive due to positive sign from global markets and huge buying that was seen in IndusInd Bank and Bharat Financial Inclusion due to a possible merger between the two companies. Capital goods sector stocks showed its strength as the index gained almost 2.60%. Sensex gained 194.64 points to 31882.16, Nifty gained 71.20 points to 10006.
Top Gainers
IndusInd Bank by 5.55% to 1790, Tata Power by 5.06% to 80.90, GAIL by 3.80% to 394.55, L&T by 3.72% to 1216 and Yes Bank by 3.19% to 1846.
Top Losers
Indiabulls Housing Finance by 1.01% to 1297.95, M&M by 0.99% to 1282.60, TCS by 0.63% to 2455, Sun Pharma by 0.60% to 468.50 and INFY by 0.49% to 879.95.
Analysis of Top Gainer and Loser
IndusInd Bank is the top gainer in today's market due to the possible merger of Bharat Financial Inclusion and bank.
Indiabulls Housing Finance is the top loser in today's market due to profit booking was seen in stock as the price is at the resistance level.
Key Market News
There is positive news for solar sector stocks as the government has issued a new notification for bidding guidelines for solar power projects such as grid curtailment and termination payments which are useful in increasing efficiency for solar power generators companies.
Government(NITI Aayog) is very close to outlining a policy framework for electric vehicles, batteries and charging infrastructure as the government wants to electrify all new vehicles by 2030. It will provide land, a relaxation in regulations and the required infrastructure for Indian and international companies. Moreover, Indian auto part manufacturers and car-makers are taking a proactive role in drawing up early plans for electrification.
Stocks to Watch
Liberty Shoes is on the upside while ANG Lifesciences India is on the downside.
Liberty Shoes is currently trading at Rs.244, up by Rs.40.65 or 19.99% from its previous closing of Rs.203.35 on the NSE. The scrip opened at Rs.204.10 and has touched a high and low of Rs.244 and Rs.201. respectively. So far 2527568(NSE) shares were traded on the counter. The current market cap of the company is Rs.414 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.244 on 11-September-2017 and a 52 week low of Rs.128.55 on 22-November-2017.
ANG Lifesciences India is currently trading at Rs.81.35, down by Rs.14.65 or 15.26% from its previous closing of Rs.96 on the NSE. The scrip opened at Rs.115.20 and has touched a high and low of Rs.115.20 and Rs.81.35 respectively. So far 748800(BSE) shares were traded on the counter. The current market cap of the company is Rs.29 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.115.20 On 11-September-2017 and a 52 week low of Rs.80 on 11-September-2016.
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