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Latest News:

Market Range Bound But Pharma Soars

By
stock, share, market

Share Market News – 1 June 2017

Today’s market opened flat due to disappointing GDP numbers. The GDP figures suggest a slow fourth quarter due to demonetisation. However, the GDP result did not have any major negative impact as the market traded in a very narrow range. Sensex lost 8.21 points to 31137.59; Nifty lost 5.15 points to 9616.10.

Top Gainers

Adani Ports by 3.39% to 350.50, Infratel by 2.84% to 377, Hindustan Unilever by 2.58% to 1094.55, Tech Mahindra by 2.18% to 398.50 And Bosch Ltd. by 2.03% to 23812.10

Top Losers

IOC by 3.68% to 413.65, Vedanta Ltd by 3.16% to 231.10, ICICI Bank by 2.01% to 319.90, Hindalco by 197.70% to 197.70 And Bharti Airtel by 1.48% to 366.05.

Key Market News

Next big trigger for the market is - how the monsoon will perform in coming months. Also, the outcome of Reserve Bank of India’s (RBI) policy review later in the month of June.

Pharma index tanked 15% last two weeks after most of the pharmaceutical companies got USFDA observations for their plant and continuing increased competition and the challenging pricing environment in the biggest market US and domestic concern over generic drugs.

Good revival seen in Pharma sector companies as shares of pharmaceutical companies were trading higher for the third straight trading session, with the Nifty Pharma index gaining more than 5% during the period due to 1) Price is at strong support zone for most of the companies 2) Some of the Pharma companies presented very good numbers for the 4th quarter.

Stocks to Watch

Zicom Electronic Security Systems is on the upside while R J Biotech is on the downside.

Zicom Electronic Security Systems is currently trading at Rs. 28.40, up by Rs.4.70 or 19.83% from its previous closing of Rs 23.70 on the NSE. The scrip opened at Rs.23.05 and has touched a high and low of Rs 28.50 and Rs 23.10.respectively. So far 534954(NSE) shares were traded on the counter. The current market cap of the Company is Rs.117 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.52.60 on 31-August-2016 and a 52 week low of Rs.23.10 on 01-June-2017.

R J Bio-Tech is currently trading at Rs.19.20, down by Rs.4.80 or 20% from its previous closing of Rs.24 on the NSE. The scrip opened at Rs 19.40 and has touched a high and low of Rs.19.40 and Rs.19.20 respectively. So far 15000(BSE) shares were traded on the counter. The current market cap of the company is Rs.18.18 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.39 on 19-July-2016 and a 52 week low of Rs.19.20 on 01-June-2017.

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