Sensex Tanks 250 Points Ahead Of Fed Meet; Nifty Below 11,050

Sensex Tanks 250 Points Ahead Of Fed Meet

Share Market News 30-January-2018

The market on Tuesday reversed some previous days gains as Sensex was down by 90 points while Nifty opened below 11,100 level. Bears tightened their grip on D-Street as benchmark indices extended losses, with the Sensex dropping around 250 points while Nifty dropped below 11,050 levels due to selling pressure in banking & financials, technology, FMCG and pharma stocks. Broader market also continued to underperform as Nifty midcap was almost down by 1%.

In the afternoon session, the market remained under selling pressure as Sensex was down by 190 points while Nifty down by 72 points to trade near 11,050 mark. Nifty midcap dropped almost 1% on profit bookings. Equity benchmark didnt showed any sign of recovery in late afternoon trade as Sensex traded lower by 210 points while Nifty dropped by 70 points.

The market closed lower on profit booking. Midcaps also caught in bear trap as Nifty midcap index almost slipped 1%. Sensex closed 249.52 points down at 36,033.73, Nifty closed 80.75 points down at 11,049.65.

Top Gainers

HindPetro by 4.36% to Rs.391.50, IOC by 4.09% to Rs.416, BPCL by 2.36% to Rs.480.90, Hero Motocorp by 1.12% to Rs.3,682.60, Coal India by 1.08% to Rs.305.

Top Losers

Eicher Motors by -2.84% to Rs.26,675, KotakBank by -2.63% to Rs.1,085.80, Bharti Infratel by -2.38% to Rs.345, Bosch Ltd. by -2.24% to Rs.19,433, Bajaj Finance by -2.23% to Rs.1,677.

Analysis Of Top Gainer And Loser

HindPetro is the top gainer in today's market as Crude oil prices fall further for second consecutive day.

Eicher Motors is the top loser in today's market as in the last few months, sales growth of the premium motorcycle unit Royal Enfield, which accounts for nearly all its profits, has cooled off. From a scorching 25-30% year-on-year growth, Royal Enfields monthly sales growth is settling down at around 17-20%, according to Mint.

Key Market News

The Securities and Exchange Board of India (SEBI) is considering either directing stock exchanges to stop giving data feed services to entities trading on exchanges abroad or levy higher fees on the traders, according to a report in Mint. According to the report, two sources say these options are a way of preventing the Indian derivatives business from going offshore.

Agriculture income may fall by up to 25% in the medium term because climate change will hit crop yields, making it imperative to replace power and fertiliser subsidies by direct income support and to drastically expand irrigation, the Economic Survey said. Agriculture accounts for 16% of GDP and 49% of employment in India, making it crucial in the overall economy.

Stocks To Watch

IOC Ltd. is on the upside while Wockhardt Ltd. on the downside.

IOC Ltd. is currently trading at Rs.416, up by Rs.16.35 or 4.09% from its previous closing of Rs.399.65 on the NSE. The scrip opened at Rs.404.85 and has touched a high and low of Rs.422.30 and Rs.399.40 respectively. So far 2,56,28,953 (NSE) shares were traded on the counter. The current market cap of the company is Rs.2,01,811.41 Crore. The NSE/BSE group stock has touched a 52 week high of Rs.462.95 on 31-August-2017 and a 52 week low of Rs.351.10 on 31-January-2017.

Wockhardt Ltd. is currently trading at Rs.827, down by Rs.82.10 or 9.03% from its previous closing of Rs.909.10 on the NSE. The scrip opened at Rs.898.50 and has touched a high and low of Rs.898.80 and Rs.818.20 respectively. So far 46,08,948 (NSE) shares were traded on the counter. The current market cap of the company is Rs.9,129.66 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.1,012 on 08-January-2018 and a 52 week low of Rs.530.65 on 22-August-2017.



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.



Multibagger Penny Stocks: Risky Or Rewarding

The usual trap where every newbie investor gets trapped is multibagger penny stocks. These stocks trade at the most discounted prices. That's why investors initially fell in love with these stocks as prima facie these stocks seemed to be the hi
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>>

Share Market News: Today’s Nifty & Sensex Updates

Share Market News 21st-February-2019
Read More>>

Volatility Ahead, Stick To The Fundamentally Strong Stocks

Our Analysis This week even after the RBI's rate cut announcement the market changed its outlook from bullish to the corrective phase. The market corrected for the fifth consecutive day
Read More>>

What is Multibagger Stocks?

What is a multibagger stock? A stock which can give you manyfold returns. Yes, that's true. Multibagger stocks are defined in a similar manner. The legendary investor Peter Lynch has termed Multibagger stocks in his book One Up On Wall
Read More>>