The Indian stock market ended with handsome gains ahead of expiry of June F&O series on Thursday. Indices extended its winning streak to third consecutive trading session amid positive global cues and firm rupee. Benchmarks opened with a gap up and then gradually surged higher led by gains in the realty, auto, power, consumer durables, oil & gas, banking, basic material and industrial stocks. Even, mid-cap and small cap stocks participated in the rally. Only FMCG index closed in red. Nifty closed with again of 76 points at 8,204, while BSE Sensex ended with a gain of 215 points at 26,740.
On the global front, Asian markets closed in green. The Shanghai Composite index closed marginally higher. Hong Kong’s Hang Seng index and Nikkei 225 climbed over 1% respectively.
DLF soared 7.8% to Rs.144. Billionaire KP Singh and his family is planning to infuse Rs. 10,000 crore into DLF by purchasing shares in a preferential issue with funds raised from the sale of their stake in the company’s rental unit, according to reports.
ITC slipped 0.58% to Rs.366 on BSE. The company will invest Rs.4,000 crore over the next 2-3 years to set up 8-9 factories across the country for manufacturing of food products.
Suven Life Sciences gained 1.3% after the company said in a notice to BSE that it secured three product patents in Europe and Eurasia.
Sobha climbed 3.2% to Rs.319 The real estate company will launch its first luxury apartment project, Sobha City in Delhi-NCR. This project will be one of the largest group housing projects in Gurgaon and it will offer best-in-class living experience to the customers, as per media reports.
Bosch jumped 5.3% to Rs.22,656 on BSE. The board of director will consider on July 1 launching a buyback offer for its equity shares. A meeting of the board of directors of the company will be held on July 1, to consider a proposal for buyback of the company’s equity shares.
Hester Biosciences dropped 2% to Rs.751 on BSE. The board of Hester Biosciences to consider a proposal to raise funds through a qualified institutional placement (QIP) issue.
Though, Vivek Kaul is of the opinion that the implementation of the Seventh Pay Commission won’t have a significant impact on the inflation levels. He has justified the same by making solid points in one of his many articles on the Seventh Pay Commission.
USDINR trade today trading up 29 paise at 67.66 per US dollar.
Out of 1,445 stocks traded on the NSE, 331 declined and 1,060 advanced today.
Top 5 Nifty Gainers: Tata Motors (3.06%), BHEL (2.99%), ICICI Bank (2.33%), Hero Motocorp (2.27%) and Dr Reddys Lab (2.13%).
Top 5 Nifty Losers: Infosys Ltd (-0.14%)
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