Tuesday 18 July 2017

Markets snap rally; Nifty Settles Below 9,850 Mark

Posted by suhani varma on Tuesday, July 18, 2017 with No comments
 
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Nifty closed at 9,827 level, down by 88 points while Sensex closed at 31,710 level, down by 363 points. There were 606 advances, 1,059 declines and 298 unchanged stocks on NSE, reflecting a fairly negative sentiments floating in the market.Advances declines ratio in Nifty50 index was in the favour of advances. There were 29 advances and 22 declines in Nifty. A total of 47 stocks registered a fresh 52-week high during Tuesday trade, while 19 stocks touched a new 52-week low on the NSE. India VIX closed at 11.49 level, up by 0.28%.

ITC was the biggest contributor to the losses of Nifty and Sensex in Tuesday’s trading session. The stock touched its intraday low of Rs 276.4 per share, down by Rs 48 per share or 15%, posting its biggest intraday fall in five years. Major research agencies had downgraded the ratings for ITC to ‘Sell’. It closed at Rs 284.6 per share, down by Rs 41.15 per share or 12.63%.Cigarette stocks witnessed loss in Tuesday’s trade after govt increased cess on cigarettes by as much as 10%. Godfrey Phillips was down by 5.69% to end at Rs 1,157.6 per share, VST Industries was down by 7.83% to close at Rs 3,281.8 per share.

Domino’s pizza operator, Jubilant Foodworks Limited touched its fresh 52-week high of Rs 1,334.95 per share despite major indices signaling bearish undertone. The company reported 25% rise in its Q1FY18 profits. The stock closed at Rs 1,326.15 per share, up by Rs 51.6 per share or 4.05%.Bank Nifty touched its record high level of 24,022 level, up by 7 points. Punjab National Bank was the top gainer in Bank Nifty index closing at Rs 155.8 per share, up by 1.9%.

Cement stocks gained in Tuesday’s trading session. ACC Limited hit its lifetime high of Rs 1,809 per share, up by 3.57% as the company reported 32.5% increase in its net profit during April-June quarter. Ultratech Cement closed at Rs 4,315.05 per share, down by Rs 32.35 per share or 0.74%. The company reported its net profits for Q1FY18 at Rs 897 crore beating market estimates.Nifty IT index was the top gainer among the sectoral indices on NSE. The index closed at 10,493, up by 47 points or 0.45%. HCL Technologies was the top gainer in the IT index trading at Rs 880.25 per share, up by Rs 12.15 per share or 1.4%.Reliance Industries has snapped its 9-day winning streak to close at Rs 1,521 per share, down by Rs 30.35 per share or 1.96%.


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