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Latest News:

Bulls Take Charge; Metal Sector Shined

By
IDS

Share Market News – 26 September 2017

The market opened downside but huge buying was seen in small-cap and metals sector stocks in the afternoon session as the market was at its major support level of 9800. On currency front rupee closed to its 6-month low level. Sensex lost 26.87 points to 31599.76, Nifty lost 1.10 points to 9871.50.
Top Gainers
Vedanta Ltd by 3.54% to 317.65, ONGC by 3.34% to 170, Indiabulls Housing Finance by 2.95% to 1239.50, Tata Steel by 2.38% to 655 and Axis Bank by 2.19 to 512.70.

Top Losers

BPCL by 3.83% to 468.50, Infratel by 3.82% to 376.40, Tata Power by 2.44% to 79.85, Hindustan Unilever by 2.42% to 1217 and Asian Paints by 2.08% to 1172.

Analysis of Top Gainer and Loser

Vedanta Ltd is the top gainer in today's market due to a huge buying that was seen in the stock as the price was at a support level.
BPCL is the top loser in today's market as the company is planning to increase its presence in the renewable energy space. Though this is a positive news for the long term it will put pressure on the company for the short term.

Key Market News-

Very positive news for power sector companies as the government is planning to provide electricity for all by December next year and have launched the scheme i.e. Saubhagya and it includes that all villages will get electricity by the end of this year. The government has set the deadline for electrifying all villages by May 1, 2018, and it also aims to provide 24X7 power to all by March 2019.

Positive news for companies as the government is planning to undertake a "census" of above 10 lakh active registered companies to verify their details including addresses and background of directors as this would increase the transparency of business.

Stocks to Watch

Indiabulls Ventures is on the upside while BPCL is on the downside.

Indiabulls Ventures is currently trading at Rs.244.35, up by Rs.23.50 or 10.64% from its previous closing of Rs.220.85 on the BSE. The scrip opened at Rs.217.50 and has touched a high and low of Rs.248.90 and Rs.215.30. respectively. So far 5300712(NSE) shares were traded on the counter. The current market cap of the company is Rs.10814 Crore. The BSE group stock has touched a 52 week high of Rs.295 on 15-September-2017 and a 52 week low of Rs.18.50. on 27-December-2016.

BPCL is currently trading at Rs.469.25, down by Rs.17.90 or 3.67% from its previous closing of Rs.487.15 on the NSE. The scrip opened at Rs.483 and has touched a high and low of Rs.485.55 and Rs.460.05 respectively. So far 3210056(NSE) shares were traded on the counter. The current market cap of the company is Rs.102139 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.546.10 On 04-September-2017 and a 52 week low of Rs.372.02 on 21-September-2016.

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