Stock Specific Rally Continues Despite Huge Selling In The Market

Stock Specific Rally Continues Despite Huge Selling In The Market

Stock Specific Rally Continues

Share Market News 13 November 2017

The market opened positive and traded in a very narrow range despite some of the companies presented a very good number in the market but a huge profit booking was seen in the afternoon session. Sensex lost 281 points to 33,033.56, Nifty lost 96.80 points to 10,225.

Top Gainers

TCS by 1.76% to 2756.55, M&M by 1.30% to 1411, Sun Pharma by 1.14% to 533.85,UPL by 0.67% to 740 and HPCL by 0.37 to 418.40.

Top Losers

Adani Ports by 4.49% to 412, Aurobindo Pharma by 4.32% to 708.10, ONGC By 3.58% to 184.25, Coal India by 3.52% to 274.35 and Infratel by 3.22% to 413.

Analysis of Top Gainer & Loser

TCS is the top gainer in today's market as the price is at a resistance level and a huge buying was seen in the market.

Adani Ports is the top loser in today's market as the company has presented poor numbers as Adani Group reported a 7.88 percent decline in consolidated net profit and price was at a resistance level and due to that, a huge profit booking was seen in this stock.

Key Market News-

PC Jeweller presented very good numbers for the second quarter as its stand-alone profit has increased about 40% for the second quarter due to increased sales and management is positive about coming quarter result too.

The biggest news for today's market is that 23rd GST council meeting outcome which happened in Guwahati. The Government has reduced GST on 178 items and reduced their tax slabs, which is a positive news for some of the sectors in the market but increasing crude oil prices and pressure on Indian currency is pressurizing the market.

Stocks to Watch

UPL is on the upside while Hindalco is on the downside.

UPL is currently trading at Rs.739, up by Rs.4.55 or 0.62% from its previous closing of Rs.735.10 on the BSE. The scrip opened at Rs.733.70 and has touched a high and low of Rs.744.70 and Rs.724.45. respectively. So far 1294509(NSE) shares were traded on the counter. The current market cap of the company is Rs.37541 Crore. The BSE group stock has touched a 52 week high of Rs.902.50 on 01-August-2017 and a 52 week low of Rs.584.20 on 22-November-2016.

Hindalco is currently trading at Rs.260.90, down by Rs.3.15 or 1.19% from its previous closing of Rs.264.05 on the NSE. The scrip opened at Rs.264 and has touched a high and low of Rs.265.25 and Rs.258 respectively. So far 5439255(NSE) shares were traded on the counter. The current market cap of the company is Rs.58524 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.278.55 On 18-October-2017 and a 52 week low of Rs.147.40 on 27-December-2016.

 

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.

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