Infy Spoils The Show; Nifty Below 9850.
Aug 18, 2017 | 18:10 PM IST
Aug 18, 2017 | 18:10 PM IST
Share Market News 18 August 2017
The market opened positive but Infosys CEO and MD's resignation news slashed the market down and INFY stock itself tanked around 10% in today's market but there is no change in buyback plan. Oil and Gas sector rallied in profit booking market. Sensex lost 270.78 points to 31524.68, Nifty lost 66.75 points to 9837.40.
Top Gainers
Infratel by 4.13% to 395, BPCL by 2.21% to 504.60, Eicher Motors by 2.14% to 31589.95, Hindustan Unilever by 2.09% to 1201.90 and Ultratech Cement by 2.01% to 4012.
Top Losers
INFY by 9.57% to 923.15, Sun Pharma by 3.65% to 470.45, ZEEL by 2.99% to 511, Vedanta Ltd by 2.10% to 298.40 and NTPC by 1.92% to 173.40.
Analysis of Top Gainer and Loser
Infratel is the top gainer in today's market as the price is at support level in strong uptrend pattern due to that a huge buying was seen in this stock.
Infy is the top Loser in today's market because its CEO and MD resigned from his post and there is uncertainty in the market that who will lead this company in coming days.
Key Market News-
A little pressure created in the market by the resignation of CEO and MD of Infosys as this is one of the largest IT companies in India and business giver to SMSE IT companies. This resignation is a result of conflict between the board of directors and CEO. We think that a capable person will be appointed to this post and the fundamentals are good for the long-term investors.
There is positive news on employment front in the USA as American citizens filing for unemployment benefits decreased to a six-month low last week due to increasing manufacturing activity and increasing interest rate in the USA.
Stocks to Watch
Infratel is on the upside while Infosys is on the downside.
Infratel is currently trading at Rs.395.30, up by Rs.15.95 or 4.20% from its previous closing of Rs.379.35 on the NSE. The scrip opened at Rs.381 and has touched a high and low of Rs.396.75 and Rs.379.95. respectively. So far 4426449(NSE) shares were traded on the counter. The current market cap of the company is Rs.73022 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.425 on 25-July-2017 and a 52 week low of Rs.281.75 on 28-Feb-2017.
Infosys is currently trading at Rs.923.25, down by Rs.97.50 or 5.56% from its previous closing of Rs.1020.85 on the NSE. The scrip opened at Rs.1017.90 and has touched a high and low of Rs.1017.90 and Rs.884.20 respectively. So far 1613884(NSE) shares were traded on the counter. The current market cap of the company is Rs.212030 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.1095 On 11-August-2016 and a 52 week low of Rs. 884.20 on 18-August-2017.
At Niveza India Pvt Ltd., we all come to work everyday to take the challenges of stock market head on and to change people's perception that stock market investment is like a gamble. Over the years, we have built our profile as a company which has brought optimum value to our subscribers through our well-researched stock recommendations.... More>>
Disclaimer: Niveza does not guarantee the accuracy or completeness of information on the site, nor does Niveza assume any liability for any loss that may result from reliance upon any such information or recommendations. Information and recommendations on the site are for general information only. Nothing contained herein is an offer to sell nor solicitation to buy any securities.