Tussle Between Bulls and Bears
May 02, 2017 | 18:37 PM IST
May 02, 2017 | 18:37 PM IST
Share Market News 02 May 2017
Todays market opened positive and ended flat due to profit booking and Federal Reserve policy is due on 3rd May 2017. Sensex gained 2.78 points to 29921.18; Nifty gained 9.75 points to 9313.80.
Top Gainers
Indiabulls Housing Finance by 5.71% to 1075.05, HDFC by 3.15% to 1585.55, BPCL by 3.07% to 741.30, ONGC by 2.81% to 191.80 And Maruti by 2.53% to 6690.
Top Losers
Lupin by 2.57% to 1303.90, Tata Motors DVR by 2.48% to 273.05, ACC by 2.12% to 1592, Bharti Airtel by 2.11% to 348 And Tata Motors by 1.83% to 150.50.
Key Market Drivers
RERA (The Real Estate Regulation Authority) came into effect from May 1. Nine states and five union territories have implemented RERA fully, while 14 states and union territories have implemented only the draft policy. The government is very strong in terms of improving discipline and bringing transparency in the real estate sector. However, RERA may bring in consolidation in the industry because many small developers may not have processes and resources to take on the challenges that RERA will throw at them like compliance, having huge resources etc.
The US Federal Reserve is expected to keep the interest rate unchanged as the rate-setting committee is still waiting to see to what extent Trump administration policies on tax, regulation and spending will be able to make it through Congress (USA Parliament). Since the last meeting, economic data has been mixed. As the consumers have resorted to calculated spendings the economy grew at a sluggish 0.7% annual pace in the first quarter.
Share Market Tips - Stocks to Watch
Indiabulls Housing Finance is on the upside while Lupin is on the downside.
Indiabulls Housing Finance is currently trading at Rs.1075.05, up by Rs.58.10 or 5.71% from its previous closing of Rs 1016.95 on the NSE. The scrip opened at Rs.1024.20 and has touched a high and low of Rs 1080 and Rs 1020.10 respectively. So far 3691916(NSE) shares were traded on the counter. The current market cap of the Company is Rs.43114 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.1080 on 02-May-2017 and a 52 week low of Rs.616.05 on 27-December-2016.
Lupin is currently trading at Rs.1303.90, down by Rs.34.45 or 2.57% from its previous closing of Rs.1338.35 on the NSE The scrip opened at Rs.1354 and has touched a high and low of Rs.1360 and Rs.1300.05 respectively. So far 1289018(NSE) shares were traded on the counter. The current market cap of the company is Rs.60444 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.1750 on 18-July-2016 and a 52 week low of Rs.1300.05 on 02-May-2017.
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