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GDP Numbers Keep The Market In A Narrow Range

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Share Market News – 31 May 2017

Today’s market opened flat and traded in a very narrow range due to mixed signals from the global market and the Q4 GDP numbers due this evening. Sensex lost 13.60 points to 31145.80; Nifty lost 3.30 points to 9621.25.

Top Gainers

M&M by 3.86% to 1413.70, Indiabulls Housing Finance by 3.31% to 1150.50, Ultratech Cement by 2.86% to 4199, Lupin by 2.64% to 1159.75 And IOC by 2.29% to 429.15

Top Losers

Vedanta Ltd by 2.61% to 238.50, INFY by 2.02% to 976.05,
Aurobindo Pharma by 1.77% to 570.05, Coal India by 1.72% to 263.10 And Tata Power by 1.70% to 81.

Key Market News

According to Moody’s, India's GDP will grow by 7.5% in current fiscal and the government's reform will help to achieve 8% in coming four years. Earlier this week, the World Bank projected India's GDP will grow by 7.2% in the current fiscal on reform momentum and improved investment scenario.

M&M presented an outstanding numbers today as its fourth-quarter. Profit increased by 26.3% (Q-O-Q). Consolidated annual profit rose 13% to Rs 4,050 crore against Rs. 3,554 Crore in FY16 and consolidated revenue for the year rose 10.6% to Rs. 88,983 Crore against 78,015.60 Crore in FY 16

Stocks to Watch

Jindal Poly Films is on the upside while Indoco Remedies is on the downside.

Jindal Poly Films is currently trading at Rs.399.60, up by Rs.52 or 14.96% from its previous closing of Rs 347.60 on the NSE. The scrip opened at Rs.359.25 and has touched a high and low of Rs 407 and Rs 360.respectively. So far 1593519(NSE) shares were traded on the counter. The current market cap of the Company is Rs.1747 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.489.05 on 08-June-2016 and a 52 week low of Rs.300 on 27-December-2016.

Indoco Remedies is currently trading at Rs.179, down by Rs.10.65 or 5.62% from its previous closing of Rs.189.65 on the NSE. The scrip opened at Rs 189.45 and has touched a high and low of Rs.198.50 and Rs.179 respectively. So far 453630(NSE) shares were traded on the counter. The current market cap of the company is Rs.1649 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.360.35 on 07-September-2016 and a 52 week low of Rs.179 on 31-May-2017.

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