Midcaps Saved The Market With Last Hour Buying

Midcaps Saved The Market With Last Hour Buying

Midcaps Saved The Market With Last Hour Buying

Investors looked muted today as the market opened on a flat note and closed marginally on the positive side. Bulls and bears both looked aggressive today and kept market range-bound throughout the session. Midcaps looked stronger with last hour buying. Sensex gain 17.1 points to 33359.9, Nifty gain 15.15 to 10298.75.

Top Gainers

GAIL by 3.99% to 462.5, Yes Bank by 2.48% to 313.7, Bosch Ltd by 2.39% to 19419.7, VEDL by 2.39% to 314.95, Coal India by 2.05% to 278.4.

Top Losers

Ambuja Cements by -3.53% to 264.8, Dr Reddy by -2.17% to 2272.3, Ultratech Cement by -1.92% to 4185, ICICI Bank by -1.91% to 318.9, SBIN by -1.41% to 332.75.

Analysis of Top Gainer and Loser

GAIL Ltd is top gainer today. After posting strong Q2 earnings, buying volume is increasing session after session.

Ambuja Cements is the top loser today. Cement stocks reeled under pressure on Monday after the Supreme Court asked all states and Union Territories to consider prohibiting the use of pet coke and furnace oil by industries.

Key Market News-

As per market reports, the Indian government may soon cut the GST on white goods like refrigerator, washing machine, etc. from the current slab of 28%. This is a positive move for Indian consumer as this can boost liquidity flow in the economy. Consumer durable sector would benefit out of it.

Supreme Court asked all states and Union Territories to consider prohibiting the use of pet coke and furnace oil by industries. Earlier, the Apex Court had banned the usage in states of UP, Rajasthan and Haryana. Further, the government is now considering banning the import of pet coke - a cheap but polluting fuel widely used by cement, paper, chemicals and textile industries.

Stocks to Watch

Coal India is on the upside while JK Lakshmi Cement is on the downside. Coal India is currently trading at Rs.278.35, up by Rs.5.55 or 2.03% from its previous closing of Rs.272.80 on the NSE. The scrip opened at Rs.273 and has touched a high and low of Rs. 280.25 and Rs. 270.05, respectively. So far 30,90,470(NSE) shares were traded on the counter. The current market cap of the company is Rs.172,721.16 Crore. The NSE/BSE group stock has touched a 52 week high of Rs.349.95 and a 52 week low of Rs.233.70.

JK Lakshmi Cement is currently trading at Rs.408.15, down by Rs.19.20 or 4.49% from its previous closing of Rs.427.35 on the NSE. The scrip opened at Rs.420 and has touched a high and low of Rs.420 and Rs.405 respectively. So far 2,22,399(NSE) shares were traded on the counter. The current market cap of the company is Rs.4805.65 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.536.95 and a 52 week low of Rs. 329.30

 

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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.

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