Home / NEWS / Equity Report Outlook|24 carat financial services | 13 September 2017

Equity Report Outlook|24 carat financial services | 13 September 2017

Equity tips:-

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NIFTY:-

                                      Nifty ends in red; OMCs drag  

  • Nifty ended at 10,079 level, down by 13 points, while Sensex closed at 32,186 level, up by 27 points. There were 483 advances, 952 declines and 52 unchanged stocks on NSE, reflecting fairly negative sentiments floating in the market.
  • Major indices in the market were in a upward trend in the first half of the Wednesday’s trading session. Oil marketing companies dragged them down in the closing hours on the back of the buzz that Finance Ministry is unlikely to roll back fuel excise tax hike due o fiscal constraints. The government may thus ask state run oil marketing companies (OMC) to further absorb the increase in the oil prices, reported a leading news agency.
  • BSE Oil & Gas index closed at 15,234 level, down by 263 points or 1.7%. BPCL was the top loser on the index ending at Rs 500 per share, down by 6.3%. Hindustan Petroleum, IOC and OIL also ended in the negative terrain, down by more than 4%. 
  • In the broader markets, BSE Mid-cap index closed at 15,935 level, down by 0.63% while BSE Small-cap index closed at 16,538 level, down by 0.48%. 
  • Bank Nifty ended at 24,831 level, up by 47 points or 0.19%. IDFC Bank was the top gainer on the index closing at Rs 58.9 per share, up by Rs 1.5 per share or 2.61%. 
  • BSE Healthcare index was the top gaining index, which closed at 13,504 level, up by 1.15%. Caplin Laboratories was the top gainer on the index ending at Rs 688 per share, up by 6.07%. 

Market Snap:-

 Sector Watch:-

Index View-:

NIFTY:-

                                                     NiftyTips
  • In Wednesday’s trading session nifty opened on a flat node.
  • Nifty index were in a upward trend in the first half of the Wednesday’s trading session.
  • Oil marketing companies dragged it down in the closing hours on the back of the buzz that Finance Ministry is unlikely to roll back fuel excise tax hike due to fiscal constraints 
    Nifty ended at 10,079 level, down by 13 points with overall loss of 0.14%.
  •  It is trading above its 21 days and 50 days simple moving averages on daily chart. 
  •  In next trading session some profit booking can be observed from higher levels and it can test down side levels of 10130 & 10000 if it breaches its next support level of 10060 while up side 10135 will act as a good resistance level. 

 BANKNIFTY:-  

                                                    BankNifty
  • In today’s trading session Bank nifty opened on a flat node continued its positive momentum and ended Wednesday’s session at 24,831 level, up by 47 points or 0.19%. The stocks within the sector too are witnessing positive momentum since last couple of trading sessions. IDFC Bank was the top gainer on the index closing at Rs 58.9 per share, up by Rs 1.5 per share or 2.61%.
  • Bank nifty Index is trading above its 21 days and 50 days simple moving averages on daily chart.
  • In next trading session some profit booking can be observed from higher levels and it can test down side levels of 24650 & 24600 if it breaches its next support level of 24770 while up side 24950 will act as a good resistance level.

Gainers/Loser:-

GAINERS – NSE

 Losers – NSE

Buzzing Stocks:-

Closing Bell:

                 Gainers:  Tata Power (+4.5%), Sun Pharma, RIL (+3%).

                 Losers:   BPCL (-6%), IOC (-4%), ITC (-2%).

  • Oil Minister to meet PSU Oil companies today on rising auto fuel price. BSE Oil and Gas Index slips over 2%. BPCL, HPCL (-6%), IOC (-5%), IGL (-3.5%) Oil India (-3%), GAIL (-1%).
  • Jubilant FoodWorks stock falls over 4% as customer finds worm in product. Lupin gets final USFDA nod for Metronidazole Tablets. Stock up 1%.
  • Tata Power adds fresh open interest to the tune of ~30 lakh shares, majorly long positive. A triple bottom breakout on daily chart in sync with long build-up is indicating a continued upward momentum for the stock.
  • RIL allots 3.08 bn shares as bonus shares in ratio of 1:1. Stock spurts 3%.
  •  8K Miles Software slips 8% after promoter pledges shares .
  • Idea Cellular stock rallies 6.5% after 42 lakh shares traded on 3 blocks on BSE at Rs 80.25 – 80.70/share.
  •  SBI sets up new group to deal with stressed assets. Stock up 1%.
  •  Wockhardt stock spurts 7% as company may start super drug trials soon.

Market News:-

           Lupin receives USFDA approval for generic Flagyl tablets

  • Pharma major, Lupinannounced that it has received final approval for its Metronidazole tablets USP, 250 mg and 500 mg from the Unites States Food and Drug Administration (USFDA) to market a generic version of G.D. Searle LLC’s Flagyl , 250 mg and 500 mg.
  • Lupin’s Metronidazole tablets USP, 250 mg are the AB rated generic equivalent of G.D. Searle LLC’s Flagyl tablets 250 mg and 500 mg. It is indicated in the treatment of wide variety of infections which are caused by particular types of bacteria and other infectious organisms.
  • Flagyl Tablets has US sales of USD 44.1 million (Rs 282 crore approximately) as reported by IMS MAT 2017.
  • Meanwhile on bourses, the stock ended higher by 1.10% at Rs 992.00 per share on BSE attracting a total traded quantity of 3.09 lakh shares Lupin Limited is a pharmaceutical company. The company is engaged in producing, developing and marketing a range of branded and generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) across the world. The Company offers products in the cardiovascular, diabetology, asthma, paediatrics etc.

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