Negative Streak Ends As Sensex & Nifty Close In Green

psu offers offe a good long term opportunity

Share Market News 16 November 2017

The market opened on a positive note and continued to trade in the positive range. In the afternoon session, huge buying was seen as midcaps outperformed. Bank Nifty helped Nifty to stay above 10,200. Sensex gain 346.38 points to 33,106.82, Nifty gain 96.70 points to 10214.75.

Top Gainers

Infosys by 4.01% to 989.95 , Bajaj Finance by 3.73% to 1777.75, SBIN by 2.77% to 333.95, AuroPharma by 2.54% to 713.75, Reliance Industries by 2.44% to 905.25.

Top Losers

Adani Ports by -2.21% to 398.10, Coal India by -1.23% to 269, Ultratech Cement by -0.85% to 296.50, BPCL by -0.70% 501.15, ZEEL by -0.46% to 537.70.

Analysis of Top Gainer and Loser

Infosys is the top gainer in today's market as the price is at a good level and a huge buying was seen in the market.

Adani Ports is the top loser in today's market after presenting a dismal Q2 result.

Key Market News-

REC to provide Rs.14,000 loan for 2,400 MW Patratu power plant. The project cost of Rs.18,668 crore is funded in debt: equity ratio of 75:25 and Rs.14,000 crore (entire debt component of the project) is sanctioned by REC as a sole lender for the project. The REC and PVUNL signed a loan agreement for establishing 3x800 MW Patratu Super Thermal Power Project Phase-I in Jharkhand," a statement by REC said.

Union Budget Date: Finance Minister Arun Jaitley is likely to present Union Budget 2018-19 on February 1, keeping with the practice that began last year. The budget for the next financial year will be particularly crucial as it will be the last full-year budget of the National Democratic Alliance (NDA) government before the 2019 Lok Sabha elections.

Stocks to Watch

Bank Of Baroda is on the upside while Divis Labs is on the downside. Bank of Baroda is currently trading at Rs.183.75, up by Rs.8.55 or 4.88% from its previous closing of Rs.175.20 on the NSE. The scrip opened at Rs.176.75 and has touched a high and low of Rs.184 and Rs.175.25, respectively. So far 21563190(NSE) shares were traded on the counter.

The current market cap of the company is Rs.42,165.71 Crore. The NSE/BSE group stock has touched a 52 week high of Rs.206.65 on 26-October-2017 and a 52 week low of Rs.133.80 on 20-October-2017.

Divis Labs is currently trading at Rs.1005.15, down by Rs.10.55 or 1.04% from its previous closing of Rs.1015.70 on the NSE. The scrip opened at Rs.1016.00 and has touched a high and low of Rs.1030.80 and Rs.1002.25 respectively. So far 665741(NSE) shares were traded on the counter. The current market cap of the company is Rs.26695.52 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.1205.60 On 15-November-2016 and a 52 week low of Rs.532.65 on 29-May-2017.

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