Monday, 23 October 2017

Market Update: RIL hits record high, Axis Bank most active, Adani Ports, Ambuja Cements top gainers

The top gainers in the Nifty were Adani Ports and Ambuja Cements which added over 2 percent each closely followed by UltraTech Cement and Hero MotoCorp.

NSE Stock Market tipsThe Indian market opened the week on a positive note with both the benchmark indices, Nifty and the Sensex reclaiming some lost grounds. The Nifty was up 0.56 percent or 56 points at 10202.50 while the Sensex gained over 150 points and trading at 32540. The Nifty midcap index was again the outperformer, up 0.77 percent led by Jubilant Foodworks, L&T Finance Holdings and Power Finance Corporation.

Bank Nifty was also trading in the green led by Federal Bank and State Bank of India which gained close to 1 percent. Punjab National Bank was other top gainers in the Bank Nifty which added 0.73 percent while Yes Bank was up 0.75 percent.

The top gainers in the Nifty were Adani Ports and Ambuja Cements which added over 2 percent each closely followed by UltraTech Cement and Hero MotoCorp. HCL Technologies from the IT space was the othet top Nifty gainer, up 1.7 percent. Themost active stock was Axis Bank which was however down 1.18 percent. Reliance Industries and Bharti Airtel were the other moost active stocks in the Nifty index. NSE STOCK MARKET TIPS


On the BSE, the top gainers were GNFC which jumped 4.75 percent while Shriram Trasnport gained 4.13 percent. Idea Cellualar, Rajesh Exports and Indian Hotels were the other top Sensex gainers.

The stocks which hit 52-week high on the NSE included reliance Industries, HCL Tech, Avanti Feeds, Tata Chemicals, IFB Agro, Havells India, Bharti Airtel and GNFC. From the BSE, the stocks that hit 52-week high were National Perox, Britannia Industries, KSB Pumps, Repro India, Pondy Oxides and Siyaram Silk.

The market breadth was strong in the Monday morning trade with 34 advances as against 15 declines. On the BSE, 1056 stocks advanced while 937 declined.

Technical Analyst Mitessh Thakkar of mitesshthakkar.com has a buy on Federal Bank with a stop loss at Rs 119 for target of Rs 134.
Ashwani Gujral of ashwanigujral.com has a buy on Reliance Industries with a stop loss of Rs 900 and target of Rs 935 and a sell on Punjab National Bank with a stop loss of Rs 134 and target of Rs 122.

CLSA has upgraded UltraTech Cement to ‘Buy’ from ‘Outperform’ and has hiked price target to Rs 4,900 from Rs 4,700 while Nomura has maintained ‘Buy’ with price target of Rs 5,150. Morgan Stanley has maintained an overweight on UltraTech with price target of Rs 4,892.

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd

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