Tussle Between Bulls and Bears; Market Stable

Tussle Between Bulls and Bears; Market Stable

Pharma Stocks Rallied In The Rangebound Market

Share Market News 09 November 2017

The market opened gap up in the morning trade but profit booking was seen in the market in some of the sectors in an afternoon session. However, the market recovered in last half hour. Consumer durable gained in the market as huge buying was seen in this sector stocks. Sensex gained 32.12 points to 33250.93, Nifty gained 5.80 points to 10309.

Top Gainers

Indiabulls Housing Finance by 3.08% to 1232.50, Bharti Airtel by 2.36% to 507, Bosch Ltd by 2.09% to 21199, ICICI Bank by 2.08% to 311.85 and Asian Paints by 2.07% to 1196.50.

Top Losers

ITC by 1.66% to 261, ONGC by 1.66% to 189.35, Coal India By 1.65% to 283.30, Infratel by 1.64% to 428 and Lupin by 1.34% to 830.

Analysis of Top Gainer and Loser

Indiabulls Housing Finance is the top gainer in today's market as the price was at the strong support level and a huge buying was seen in this stock.

ITC is the top loser in today's market as a profit booking was seen as the company has appointed Sandeep Sule as the new chief executive of its FMCG and cigarette distribution business.

Key Market News-

Tata Motors presented outstanding numbers for the second quarter as consolidated profit during the quarter grew to Rs.2,501.67 crore, from Rs.848.16 crore in same quarter last fiscal. Consolidated revenue from operations (net of excise) increased 10.3% to Rs.70,156 crore, compared with Rs.63,577.37 crore.

Bajaj Electricals presented good number for the quarter 2 as net profit has increased 13.92% to Rs.18.98 crore for the September compared to Rs.16.66 crore during the same period of the previous fiscal.

Stocks to Watch

PC Jeweller is on the upside while GSFC is on the downside.

PC Jeweller is currently trading at Rs.357.65, up by Rs.23.30 or 6.97% from its previous closing of Rs.334.35 on the BSE. The scrip opened at Rs.340.10 and has touched a high and low of Rs.364.80 and Rs.334.20. respectively. So far 2461468(NSE) shares were traded on the counter. The current market cap of the company is Rs.14151 Crore. The BSE group stock has touched a 52 week high of Rs.395.70 on 22-August-2017 and a 52 week low of Rs.143.98 on 15-November-2016.

GSFC is currently trading at Rs.141.40, down by Rs.9.30 or 6.17% from its previous closing of Rs.150 on the NSE. The scrip opened at Rs.144 and has touched a high and low of Rs.146.50 and Rs.139.40 respectively. So far 1246341(NSE) shares were traded on the counter. The current market cap of the company is Rs. 5638 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.164.50 On 07-November-2017 and a 52 week low of Rs.76.75 on 30-September-2016.

 

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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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