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Nifty At 10,440; Banks Are Ruling The Market

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Equities

Share Market News – 01 November 2017

It was a historic day for the Indian market as the market opened positive and three indices have made an all-time high i.e. Sensex, Nifty, and Bank Nifty. Other sectors i.e FMCG and metals have participated in the rally also but some profit booking was seen in consumer durables and pharma sectors stocks.

Top Gainers

Bharti Airtel by 9.21% to 543, SBIN by 4.64% to 320, ICICI Bank by 4.42% to 313.35, Vedanta Ltd by 3.47% to 343.35 and Hindalco by 3.09 to 275.65.

Top Losers

Eicher Motors by 4.04% to 30931, Infratel Ltd by 3.81% to 425.30, Dr. Reddy By 3.01% to 2355, UPL by 2.16% to 782 and HCL Tech by 1.50% to 841.

Analysis of Top Gainer and Loser

Bharti Airtel is the top gainer in today's market as the stock has broken its major resistance level and due to that, a huge buying was seen in the stock.

Eicher Motors is the top loser in today's market as profit booking was seen in the stock as the price is at the resistance level.

Key Market News

Sugar stocks were in focus as the government has increased 5% price of ethanol to ease pressure on suppliers of the fuel and cut crude imports.

Good news for new entrepreneurs as the Indian government is making the efforts to make the business-friendly environment and India's rank has improved 30 spots to secure a place among the top-100 countries on World Bank's ease of doing business ranking list in 2018.

Stocks to Watch

SBIN is on the upside while Escorts Ltd is on the downside.

SBIN is currently trading at Rs.319.85, up by Rs.14.05 or 4.59% from its previous closing of Rs.305.80 on the BSE. The scrip opened at Rs.309.40 and has touched a high and low of Rs.321.45 and Rs.309.40. respectively. So far 34907283(NSE) shares were traded on the counter. The current market cap of the company is Rs. 276052 Crore. The BSE group stock has touched a 52 week high of Rs.351.30 on 26-October-2017 and a 52 week low of Rs. 235 on 09-November-2017.

Escorts Ltd is currently trading at Rs.740.95, down by Rs.19.20 or 2.53% from its previous closing of Rs.760.15 on the NSE. The scrip opened at Rs.766 and has touched a high and low of Rs. 780.90 and Rs.738.15 respectively. So far 2284341(NSE) shares were traded on the counter. The current market cap of the company is Rs.9076 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.787.15 On 31-October-2017 and a 52 week low of Rs.270 on 22-November-2016.

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