Profit Booking Dragged the Market Down; Nifty Holds 10,350

Profit Booking Dragged the Market Down; Nifty Holds 10,350

Profit Booking Dragged the Market Down

Share Market News 07 November 2017

The market opened positive but a huge profit booking was seen in the market in all the sectors in the afternoon session. Despite profit booking, IT index was up 2.22%. Sensex lost 360.43 points to 33370.76, Nifty lost 101.60 points to 10350.20.

Top Gainers

HCL Tech by 3.78% to 877, HPCL by 2.98% to 447, INFY by 2.87% to 955.35, Tech Mahindra by 2.51% to 472 and TCS by 1.67 to 2710.

Top Losers

Lupin by 16.86% to 860.25, Cipla by 7.11% to 608.25, SBIN By 3.57% to 317.25, Bharti Airtel by 3.37% to 514.60 and UPL by 3.31% to 736.70.

Analysis of Top Gainer and Loser

HCL Tech is the top gainer in today's market as the price was at the support level and a huge buying was in this stock.

Lupin is the top loser in today's market as the company has received a warning letter from USFDA to manufacturing facilities at Goa and Indore (Pithampur Unit II).

Key Market News-

A huge selling was seen in the market as crude oil prices have been rising in the world market and pharma stocks have also put pressure on the index.

Cipla presented outstanding number as a profit grew of 17.7% for the quarter ended September 2017. Revenue from the operations grew 8.8% to Rs.4,082 crore in July-September quarter, compared with Rs.3,751 crore in the corresponding period driven by strong operational performance and other income.

Stocks to Watch

HCL Tech is on the upside while Lupin is on the downside.

HCL Tech is currently trading at Rs. 876.75, up by Rs. 31.70 or 3.75% from its previous closing of Rs. 845.05 on the BSE. The scrip opened at Rs.850 and has touched a high and low of Rs.880 and Rs. 844.30. respectively. So far 2980306(NSE) shares were traded on the counter. The current market cap of the company is Rs.121941 Crore. The BSE group stock has touched a 52 week high of Rs.943 on 23-October-2017 and a 52 week low of Rs.736 on 27-April-2016.

Lupin is currently trading at Rs.859.90, down by Rs.174.65 or 16.88% from its previous closing of Rs.1034.55 on the NSE. The scrip opened at Rs.1037 and has touched a high and low of Rs.1041 and Rs.845.45 respectively. So far 25028579(NSE) shares were traded on the counter. The current market cap of the company is Rs.38880 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.1728.25 On 27-July-2017 and a 52 week low of Rs.845.45 on 07-November-2017.

 

ABOUT AUTHOR

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.

LEAVE A COMMENT

RECOMMENDED READING

Looking For Multibagger Stocks? Here’s How To Find Them

What Is A Multibagger Stock? If you are a stock investor, you don't need any introduction to the word--multibagger. A multi-bagger stock is the one whose value has risen multiple times and it has given manifold growth on the capital invested.
Read More>>

Sensex At All-Time High, Nifty Above 11K; Reliance & IT Shine

Our Analysis This week market started inched higher as Sensex hit all-time high & Nifty well above the 11,000 mark led by heavyweights like Reliance TCS, HDFC twin. The earnings season
Read More>>

Free Share Market Tips Today: Stop & Read Before You Invest In Stocks

Various popular stock market news portals and TV channels discuss trending stocks and provide free share market tips based on technical charts and often without in-depth research. Our research desk analyses these trending stock market tips and pro
Read More>>

Demystifying Warren Buffett’s Investment Mantra

What Rakesh Jhunjhunwala is to India, Warren Buffett is to the world. From his investment style to his holdings, everything is a subject to a severe scrutiny of the entire investor community. The reason he's followed and even revered by the in
Read More>>

Fundamental Analysis: The Long-Term Growth Indicator – Part 2

The key to success lies is in details. This phrase is the bedrock of fundamental analysis. Fundamental analysis is all about going into great details of the prospect and finding out the real value of the business. The process of fundamental an
Read More>>