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Nifty Rested Above 10000; Banks & Metal Shine

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Share Market News – 26 July 2017

Today's market opened positive after yesterday's range bound trading and conquered 10,000 mark on closing basis. Banks and Metal sector supported the market. Sensex gained 154.19 points to 32382.46; Nifty gained 56.15 points to 10020.70

Top Gainers

Yes Bank By 6.44% to 1722, IndusInd Bank By 2.43% to 1580, Tata Steel by 2.34% to 565.90, Vedanta Ltd. By 2.28% to 280.50 And Cipla By 2.17% to 574.60.

Top Losers

Axis Bank by 3.32% to 526.85, ZEEL by 1.60% to 530.10, Ambuja Cement by 1.19% to 264.60, Asian Paint by 1.18% to 1136.55 And ACC by 0.93% to 1710.

Analysis of Top Gainer and Loser

YES Bank is the top gainer in today's market due to outstanding number presented by company in the first quarter of FY 17-18 which is Rs. 965.52 crore profit after tax (PAT) as compare to Rs 731.81 previous year increasing by 31.93%. Stock split is also announced by the board in the ratio 1:5

Axis Bank is the top loser in today's market due to sluggish numbers reported by company as net profit declined by16% in the first quarter of FY 17-18. As per our view, numbers were pressurised due to higher provisions for NPA, increased credit costs and lower operating income.

Key Market News-

According to commerce and industry minister Nirmala Sitharaman, Foreign Direct Investment (FDI) inflows has increased 23% in the first two months in the country (YOY Basis) i.e. $10.02 billion, or about Rs. 64,524 crore compared to $8.12 billion, or about Rs. 52,289 crore in last year.

There is cautious view on the inflation front as according to Japanese financial services major Nomura, inflation is going to rise above the Reserve Bank of India's mid-point target (4 per cent on CPI front with core inflation above 6.3 per cent in 2018) led by rural wages, minimum support prices, a closing output gap and the supply demand mismatch. Estimating headline and core CPI inflation to rise to 4.4% and 5.2% respectively by end-2017 and average 5.3% and 6.3% in 2018.

Stocks to Watch

Yes Bank is on the upside while Tata Metaliks is on the downside.

Yes Bank is currently trading at Rs.1711.95,up by Rs.94.10 or 5.82% from its previous closing of Rs.1617.85 on the NSE. The scrip opened at Rs.1624.70 and has touched a high and low of Rs. 1724 and Rs.1605.25.respectively. So far 8549132(NSE) shares were traded on the counter. The current market cap of the company is Rs.78348 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.1724 on 26-July-2017 and a 52 week low of Rs.1090.55 on 26-December-2016

Tata Metaliks is currently trading at Rs.700.40,down by Rs.37.10 or 5.03% from its previous closing of Rs.737.50 on the NSE. The scrip opened at Rs 732 and has touched a high and low of Rs.732 and Rs.697.10 respectively. So far 389121(NSE) shares were traded on the counter. The current market cap of the company is Rs.1768 Crore. The BSE/NSE group stock has touched a 52 week high of Rs.787.90 On 11-July-2017 and a 52 week low of Rs 280 on 22-November-2016.

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