Tuesday, 24 October 2017

Market Update: CNX Realty outperforms; ONGC, UltraTech top gainers; Tata Steel hits 52-week high

The top gainers in the Nifty were ONGC which gained 2.23 percent while Tata Steel was up 1.99 percent while Keltech Energies, Rajapalayam Mills, Saregama India, GNFC and Nalwa Sons Invstments were some of the stocks that hit 52-week highs on the BSE.

FREE TRAILS TIPSThe Indian benchmark indices, Nifty as well as the Sensex were trading on a positive note on Tuesday morning trade with the Nifty adding 26 points at 10212 while the Sensex gained 0.31 percent, up 101 points at 32613.01. Bank Nifty was was up 0.75 percent led by Yes Bank which gained 2.29 percent followed by Bank of Baroda, PNB and Axis Bank. ICICI Bank was up over 1 percent in the morning trade.

The top gainers in the Nifty were ONGC which gained 2.23 percent while Tata Steel was up 1.99 percent. NTPC, Vedanta and UltraTech Cement were the othet top Nifty gainers.The most active stocks were Axis Bank, Bharti Airtel and Reliance Industries followed by Reliance Capital and GNFC. FREE TRAILS TIPS

On the BSE, the stocks which gained the most were NCC which jumped 5.92 percent while Sobha was up 4.63 percent.Prestige Estates, Coromandel International and Delta Corp were the other top gainers.


CNX Realty zoomed 1.76 percent led by Godrej Properties, Sobha, Delta Corp and HDIL. The Nifty midcap index was also trading in the green with stocks like Andhra Bank, India Cements, Jaiprakash Associates and Syndicate Bank trading in the green.

The stocks that hit 52-week high on the NSE included Zuari Agro Chemicals, Lumax Industries, Tata Steel, Kiri Industries and Page Industries. On the BSE, Keltech Energies, Rajapalayam Mills, Saregama India, GNFC and Nalwa Sons Invstments were some of the stocks that hit 52-week highs.

On Tuesday morning, the market breadth was strong with 34 advances as against 16 declines. On the Sensex, 1374 advanced while 715 stocks declined.

Technical Analyst Ashwani Gujral of ashwanigujral.com has a buy on Tata Steel with a stop loss of Rs 700, target of Rs 735 and Coromandel International with a stop loss of Rs 490, target of Rs 520.

Mitessh Thakkar of mitesshthakkar.com has a buy on GMR Infra with a stop loss of Rs 16.75 for target of Rs 18.20 and has a buy on Grasim Industries with a stop loss of Rs 1162 for target of Rs 1220.

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