Thursday, 25 January 2018

Market Update: L&T, ONGC, Vedanta hit record highs despite broader indices trading flat; SBI falls 2%

The market breadth was in favour of the advances on Thursday morning with 804 stocks advancing as against 782 declines while 418 remained unchanged. On the other hand, 1051 stocks advanced and 948 stocks declined while 85 remained unchanged on the BSE.

 INDIAN STOCK MARKET TIPSThe Indian benchmark indices were trading lower with the Nifty shedding 16 points, trading at 11,070 while the Sensex was down 75 points  and was trading at 36,086.

CNX Infra was the outperforming sector which gained 0.8 percent as stocks like Larsen & Toubro gained 1.34 percent hitting record high while Siemens and Voltas added close to 1 percent each. Reliance Power and Engineers India were the other gainers.

Nifty IT was the biggest drag which was down 1.7 percent as stocks like Tech Maindra, Oracle Financial, HCL Tech and Infosys traded lower.

From the Nifty, the stocks that gained the most were Vedanta which jumped 2.56 percent hitting record highs while Hindalco also notched up 2 percent gain. Cipla, L&T and GAIL India were the other gainers. INDIAN SHARE MARKET TIPS

The most active stocks were State Bank of India which was down over 2 percent while PNB and Biocon shed 3-4 percent each. Bharti Airtel and IDBI Bank were the other active stocks.

From the BSE, the stocks that gained the most included UCO Bank which jumped close to 6 percent followed by NCC and Rain Industries adding 4 percent each. Sobha and Mphasis were the other top gainers.

25 stocks hit fresh 52-week high on NSE including ABB followed by L&T and L&T Tech. Escorts, ONGC and Vedanta from the NSE hit record highs in the morning trade.

From the BSE, ABB, L&T, L&T Tech, NIIT Tech, Escorts, Vedanta and ONGC were some of the stocks which hit fresh 52-week high.

The market breadth was in favour of the advances on Thursday morning with 804 stocks advancing as against 782 declines while 418 remained unchanged. On the other hand, 1051 stocks advanced and 948 stocks declined while 85 remained unchanged on the BSE.
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