Skip to main content

Market Update: CNX Pharma outshines, jumps over 2% led by Sun Pharma; BoB up 2%, Jubilant Life falls 7%

The market breadth was in favour of the advances with 1246 stocks advancing while 358 decllined and 402 remained unchanged. On the other hand, in the BSE, 1527 stocks advanced and 546 declined and 87 remained unchanged.

The Indian benchmark indices were trading on a positive note on Friday morning with the Nifty gaining 47 points at 10,429 while the Sensex gained 144 points or 0.43 percent.

Nifty pharma was the outperforming sector with the Index jumping 2.6 percent led by stocks including Sun Pharma zooming close to 5 percent followed by Aurobindo Pharma, Cipla and Divis Labs. Dr Reddy's Labs, Glenmark Pharma and Lupin were the other top gainers.

The PSU banking index was also up 1 percent as stocks like Bank of Baroda gained 2 percent while IDBI bank, PNB, SBI and Syndicate Bank were the other top gainers.

The top Nifty gainers included Sun Pharma which jumped over 4 percent followed by Tata Steel and Aurobindo Pharma which added 3 percent each while Cipla and Bharti Airtel were the other performing stocks.

The most active stock was Jubilant Life Sciences which plunged close to 8 percent, followed by Sun Pharma, Tata Steel, Biocon and Fortis Healthcare.

The top Nifty losers included GAIL India, Eicher Motors, M&M, TCS and Asian Paints.

Avenue Supermarts, Firstsource Solutions and Ipca Labs were some of the few stocks that hit new 52-week high on NSE while Gitanjali Gems Limited, Max India Limited and United Bank of India were the stocks that hit fresh 52-week low.

The top Sensex gainers were Federal bank which was up 4 percent followed by Sun Pharma, Info Edge, Sun Pharma Advanced and Sundaram Fasteners. The top losers were Jubilant Life, Vakrangee, Siemens, Religare and Videocon.

The market breadth was in favour of the advances with 1246 stocks advancing while 358 decllined and 402 remained unchanged. On the other hand, in the BSE, 1527 stocks advanced and 546 declined and 87 remained unchanged.

Goldman Sachs has maintained a buy on Avenue Supermarts and has raised target to Rs 1,672 from Rs 1,611. It expects the company to open 24/28/30 stores in FY19/20/21 as against 18 earlier which will lead to some cannibalization.

Jefferies has retained a buy on Federal Bank with target of Rs 145 per share and feels that picking stake in Equirus Capital is a positive on the strategy. It is of the view that corporate and SME clients could mean additional fee income while better efficiency should result in gradual increase in overall profitability.
www.shristocktips.com

Comments

Popular posts from this blog

Dark secrets of share market

Dark secrets of share market
Stock market has some dark secrets that no broker tells. And what is more surprising is that these secrets belong to the steps taken to make money.
Let’s see how positive things turn negative
1# Commodity price risk
When price of commodity escalates, it brings joy to the companies that see commodities as output. But for companies that see commodities as inputs see loss in increased. Companies that don’t deal in commodities also face difficulties with price escalation. It is so because the customers start selling commodities. And it won’t be an exaggeration to say that commodity pricing effects the entire economy.
2# Headline risk
Do you remember the news of Fukushima nuclear crisis? This news surfaced in 2011 and it drowned all the stocks related to businesses related to nuclear power like uranium miners. It is called headline risk and no business is free from this risk. A torrent ofnews-reports regarding a business can have an adverse effect on its commodity p…

Nifty could slip towards 9,900; 3 stocks which could give up to 11% return

A close beyond 10,400 levels with healthy volumes can pause the current bearishness triggering a short covering to levels of 10,640-10,730.

The Nifty index Futures continued to slide lower for the second month in a row making it 10 percent decline from the record highs. Further, it has broken down from a broadening wedge pattern along with a close below the 200-DMA, affirming weakness dominant in the markets at the moment.

A sustained trade below 10,050 can accelerate the fall to levels of 9,930-9,700. However, a close beyond 10,400 levels with healthy volumes can pause the current bearishness triggering a short covering to levels of 10,640-10,730.

Moreover, the relative strength index or the RSI has turned down from the neutral levels of 50 on two occasions in recent pullbacks suggesting further weakness in the coming trading sessions.

Here is the list of stocks which can give up to 11 percent return:

Arvind Ltd: SELL| Target Rs345| Stop Loss Rs410| Return 11%

On the weekly chart, Arv…

Reliance Infra arm moves Delhi HC over arbitration award against DMRC; stock up 5%

Subsidiary Delhi Airport Metro Express has moved the Delhi High Court seeking execution of the Arbitration award it had won against Delhi Metro Rail Corporation.
Reliance Infrastructure share price rallied 5 percent intraday Tuesday after the company's subsidiary DAMEPL has moved the Delhi High Court over the execution of Arbitration award against DMRC.

"...subsidiary Delhi Airport Metro Express Pvt. Ltd. (DAMEPL) has moved the Delhi High Court seeking execution of the Arbitration award it had won against Delhi Metro Rail Corporation (DMRC)," the company said in its filing.

The arbitral award was recently upheld by a single judge bench of the Delhi High Court.

In its petition filed under section 36 of the Arbitration and Conciliation Act in the division bench headed by Chief Justice of Delhi HC, DAMEPL has sought an order for the execution of the award dated May 11, 2017 passed by the Arbitral Tribunal and direct DMRC to pay a around Rs 5,200 crore, the company said.

Thi…