Nifty Above 10,700 For First Time; Sensex Misses The 35K Milestone

Share Market News 15-January-2018

The market on Monday began on a positive note as Sensex was up by 180 points to trade above 34,700 levels while Nifty was up by 50 points to trade above 10,700 for the first time. The broader market also started on a positive note, too. The market extended gains as Sensex rose over 350 points to trade close to the 35K mark while Nifty was up by 100 points to inch towards the 10,800 mark. The market traded steady at its high points as Sensex was up by 320 points and Nifty continued to trade above 10,750 levels while broader market underperformed indices.

In the afternoon session, the market steadied after strong morning rally as Sensex was up by 290 points and Nifty trade around 10,750 levels. Broader market continued to trim morning gains to underperform benchmark indices. In last hour of trade, the market gave up some morning highs as Sensex was up by 270 points and Nifty continued to trade around 10,750 levels. Broader market continued to underperform indices. The market closed higher but off the days high. Sensex closed 251.12 points up at 34,843.51, Nifty closed 60.20 points up at 10,741.50.

Top Gainers

HDFC by 5.80% to Rs.1,863, ICICI Bank by 3.70% to Rs.329.45, Ambuja Cement by 2.84% to Rs.277.05, ZEEL by 2.79% to Rs.607.50, Ultratech Cement by 2.62% to Rs.4,521.

Top Losers

Eicher Motors by 2.57% to Rs.27,912.30, GAIL by -2.10% to Rs.490.65, ONGC by -2.04% to Rs.196.65, Bajaj Finance by -1.87% Rs.1,737, Hero Motocorp by -1.83% to Rs.3,620.05.

Analysis Of Top Gainer And Loser

HDFC is the top gainer in today's market as the firm said it will raise around Rs.11,104 crore from marquee institutional investors like KKR, GIC and Premji Invest, among others. Separately, the countrys largest mortgage lender will also be raising up to Rs.1,896 crore through qualified institutional placement (QIP).

Eicher Motors is the top loser in today's market as selling pressure was seen in the stock. The stock fell nearly 7.5% so far this year. Since 1 November 2016, it fell over 13%.

Key Market News

Index of Industrial Production (IIP) grew at a five-year high of 8.4 percent in November. This rebound partly reflects the strength seen in exports, points to the sharp payback from GST-related disruptions and some recovery from the lingering impact of cash ban.

Retail inflation spiked to a 17-month high of 5.21 percent in December, which was much above RBI's comfort zone of 4 percent.

India's wholesale inflation eased marginally to 3.58 percent in December after hitting an eight-month high of 3.93 percent in November. The wholesale inflation rate, measured by WPI, is a marker for price movements in bulk buys for traders and broadly mirrors trends in shop-end prices.

Stocks To Watch

GNFC Ltd. is on the upside while IDFC Bank Ltd. on the downside.

GNFC Ltd. is currently trading at Rs.539.20, up by Rs.55.60 or 11.50% from its previous closing of Rs.483.60 on the NSE. The scrip opened at Rs.484.50 and has touched a high and low of Rs.546.80 and Rs.484.50 respectively. So far 61,05,782 (NSE) shares were traded on the counter. The current market cap of the company is Rs.8,401.16 Crore. The NSE/BSE group stock has touched a 52 week high of Rs.548.50 on 24-October-2017 and a 52 week low of Rs.234.45 on 24-January-2017.

IDFC Bank Ltd. is currently trading at Rs.64.30, down by Rs.3.20 or 4.74% from its previous closing of Rs.67.50 on the NSE. The scrip opened at Rs.68.70 and has touched a high and low of Rs.69 and Rs.63.90 respectively. So far 9,38,24,383 (NSE) shares were traded on the counter. The current market cap of the company is Rs.21,862.19 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.71.15 on 10-July-2017 and a 52 week low of Rs.51.20 on 18-December-2017.