Nifty Rangebound At A higher level; Pharma Top Gainer
Sep 13, 2017 | 17:47 PM IST
Sep 13, 2017 | 17:47 PM IST
Share Market News 13 September 2017
Today's market opened positive on yesterday's buying momentum and market rallied near to all-time high level but it cracked in afternoon session due to profit booking. Pharma sector stocks rallied despite some profit booking seen in some other sector. Sensex gained 27.75 points to 32186.41, Nifty lost 13.70 points to 10079.30.
Top Gainers
Sun Pharma by 5.40% to 509.50, Tata Power by 5% to 85.05, Reliance Industries by 3.60% to 853.40, Dr.Reddy by 2.69% to 2223.95 and Bank of Baroda by 1.48% to 143.95.
Top Losers
BPCL by 6.45% to 499.40, IOC by 4.81% to 414, ITC by 2.18% to 271.60, Indiabulls Housing Finance by 1.96% to 1266 and Eicher Motors by 1.46% to 32184.
Analysis of Top Gainer and Loser
Sun Pharma is the top gainer in today's market as the price is at the strong support level and it got permission from USFDA for Fenofibrate Oral Tablet which is used to treat cholesterol problems.
BPCL is the top loser in today's market due to profit booking that was seen in the stock as price is at a resistance level but positive news for long term investor is that it is going to spend 1.08 trillion on capacity expansion of refineries as well as marketing in coming five years as well as it got Maharatna status yesterday.
Key Market News-
There is positive news on GDP front as according to Nomura India's GDP would grow around 7.1% this fiscal because increasing industrial production as companies have started restocking post GST ahead of the festive season and demand will increase in coming days.
There is a scope of Nifty to cross new milestone this year as according to Credit Suisse, Indian market is not near to Bubble zone and it has potential to grow more, especially in following sectors like energy, metals and private sector banks and it also mentioned IT sector as it has potential to grow despite earnings crunch.
Stocks to Watch
Sun Pharma is on the upside while Jubilant Foodworks is on the downside.
Sun Pharma is currently trading at Rs.503.35, up by Rs.19.95 or 4.13% from its previous closing of Rs.483.40 on the BSE. The scrip opened at Rs.484 and has touched a high and low of Rs.510.50 and Rs.479.90. respectively. So far 11440036(NSE) shares were traded on the counter. The current market cap of the company is Rs.120673 Crore. The BSE group stock has touched a 52 week high of Rs.854.95 on 04-August-2016 and a 52 week low of Rs.432.70 on 14-August-2017.
Jubilant Foodworks is currently trading at Rs.1323.35, down by Rs.101.45 or 7.12% from its previous closing of Rs.1424.80 on the NSE. The scrip opened at Rs.1420 and has touched a high and low of Rs.1421 and Rs.1305.05 respectively. So far 2391392(NSE) shares were traded on the counter. The current market cap of the company is Rs.8721 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.1475.45 On 12-September-2017 and a 52 week low of Rs.760.50 on 26-December-2016.
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