Equity benchmarks as well as broader markets erased more than half of early gains amid consolidation. Oil, FMCG and pharma stocks continued to support the market whereas banks and infra stocks were under pressure ahead of RBI monetary policy. The 30-share BSE Sensex was up 65.11 points at 28308.40 and the 50-share NSE Nifty up 18.00 points at 8756.10. The BSE Midcap and Smallcap indices gained 0.2 percent each on positive breadth. About 1368 shares advanced against 781 declining shares on the BSE. HPL Electric & Power shares started off first day on a disappointing note. The stock listed at Rs 190, down nearly 6 percent compared with issue price of Rs 202 per share. PSU oil & gas stocks like ONGC and GAIL were top gainers, rising over 3 percent. Reliance Industries, Sun Pharma, Wipro and Cipla gained over 1 percent while L&T and Coal India fell 1-2 percent.
Today’s Top BSE Gainers : GAIL, ONGC, Cipla, Tata Steel, Relience
Today’s Top BSE Losers : Zee Entertain, Coal India, Larsen, Bank of Baroda, Idea Cellular
Best Share to Buy for Today
- As the Amtek Auto is under the debt of 15000 crore rupees. Mahindra CIE will acquire the business of Amtek Auto. Both the comapnies have gained the around 6% hike in today’s session. With the strong resistence on this level there are no possibitilites for the stocks to move any further up selling would be beneficial for the traders.
- USFDA has removed the import alert from ceftriaxone sodium. Now the pharmaceutical company Wockhardt can produce and sell ceftriaxone API in America. It’s a big good news for the company. The company’s stocks are already trading 2.23% and expected to rise high in upcoming days.
Stocks to Buy Today (Tuesday) : 4 October 2016
Sell Mahindra CIE below: 48.27 Targets: 48.15 — 48.01 — 47.86 Stoploss : 48.42
Buy Wockhardt above: 922.64 Targets: 929.78 — 937.42 — 945.09 Stoploss : 915.06