Today's Stock and Equity Market Trading Tips and Services
The S&P BSE Sensex which started on a cautious note on Monday managed to build momentum and surged about 100 points in trade, led by gains in HDFC, SBI, TCS, Axis Bank and ONGC. The 50-share Nifty index also surged past its crucial psychological level of 8600, supported by gains in pharma, IT, oil & gas, and realty stocks.
Tata Motors stock recovers after earlier falling as much as 2.5 pct.Q1 profit nearly halves; cuts sales, production targets for Jaguar Land Rover in China.Analysts trim estimates but keep "buy" rating saying China related weakness looks largely discounted and valuations remain supportive.Valuation: Nearly 3x of FY17 EV/EBITDA for unit JLRand 10x for FY17 earnings for India business - Analysts
The market is surging ahead after initial hiccup. The Sensex is up 173.96 points or 0.6 percent at 28410.35, and the Nifty is up 54.70 points or 0.6 percent at 8619.30. About 1340 shares have advanced, 601 shares declined, and 105 shares are unchanged. HDFC, Dr Reddy's Labs, TCS, SBI and ICICI Bank are top gainers in the Sensex. Among the losers are Tata Motors, ONGC, NTPC, Sun Pharma and M&M.
Jaiprakash Associates falls 4 per cent to hit intraday low of Rs 11.30 after the company reported that its loss in the first quarter of current financial year widened to Rs 465 crore against loss of Rs 81 crore during the same quarter last year.
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