Sensex Closes Lower, Nifty Ends Flat; Midcap Outperforms
Jan 03, 2018 | 11:56 AM IST
Jan 03, 2018 | 11:56 AM IST
Share Market News 03-January-2018
The market started on a positive note on Wednesday as Sensex gained over 100 points while Nifty traded above 10,450 points. The nifty Midcap index also traded on a positive zone after Tuesdays fall of almost 1%. The market extended gains as Sensex was up by 150 points and Nifty was up by 50 points. Broader markets continued to outperform indices as Nifty midcap was up by almost 1%.
In the afternoon session, the market trimmed morning gains with the Sensex traded just around 50 points higher while Nifty continued to hold 10,450 marks. In last hour of trade market gave up all its morning gains as Nifty slipped below 10,450 marks. While Nifty midcap and smallcap continued to outperform. The market ended on a flat note but broader markets outperformed Indices as Nifty midcap was up by 0.68%. Sensex closed 18.88 points lower at 33,793.38, Nifty closed 1.0 points up at 10,443.20.
Adani Ports by 2.86% to Rs.408.75, L&T by 2.66% to Rs.1,283, Hindalco by 1.69% to Rs.276.50, ICICI Bank by 1.68% to Rs.314.90, Ambuja Cement by 1.57% to Rs.272.35.
Dr. Reddy by 2.85% to Rs.2,340.55, Wipro by -2.78% to Rs.309.85, Bajaj Auto by -1.90% to Rs.3,232, ONGC by -1.63% Rs.193.65, Maruti by -1.40% to Rs.9,420.
Analysis Of Top Gainer And Loser
Adani Ports is the top gainer in today's market as company informed that the meeting of the Board of Directors of the company will be held on 18th January 2018.
Dr. Reddy is the top loser in today's market as against company EIR has been issued to the companys Duvvada facility. The report further states that Duvvada facility status continues to be classified as an official action initiated (OAI).
Key Market News
The Insolvency and Bankruptcy Code Amendment Bill was approved by the Rajya Sabha through a voice vote on Tuesday. Last week, the ordinance was passed by the Lok Sabha. The Bill seeks to replace an ordinance which was promulgated in November to prevent unscrupulous persons from misusing or vitiating the provisions of the Insolvency and Bankruptcy Code.
Capital and commodities market regulator, SEBI is planning to open up the commodities market for foreign portfolio investors (FPIs), fund houses and portfolio management services (PMS) by March.
Stocks To Watch
Kiri Industries is on the upside while BEML Ltd. is on the downside.
Kiri Industries is currently trading at Rs.547.30, up by Rs.40.05 or 7.90% from its previous closing of Rs.507.25 on the NSE. The scrip opened at Rs.509.05 and has touched a high and low of Rs.550 and Rs.507.50 respectively. So far 10,03,400(NSE) shares were traded on the counter. The current market cap of the company is Rs.1,647.09 Crore. The NSE/BSE group stock has touched a 52 week high of Rs.623.70 on 03-November-2017 and a 52 week low of Rs.230 on 11-August-2017.
BEML Ltd. is currently trading at Rs.1,525, down by Rs.50 or 3.17% from its previous closing of Rs.1,575 on the NSE. The scrip opened at Rs.1,577.25 and has touched a high and low of Rs.1,603.15 and Rs.1,480.80 respectively. So far 15,46,419(NSE) shares were traded on the counter. The current market cap of the company is Rs.6,344.54 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.1,947 on 19-September-2017 and a 52 week low of Rs.980.65 on 09-January-2017.