After opening on a flat note, indices were stuck in a narrow trading range throughout the day clocking in minuscule gains. The power, capital goods, industrials and utilities stocks were among the major gainers. On the other hand, IT and health care stocks were under pressure. Nifty closed with a gain of mere seven points at 8,273, while BSE Sensex ended with a gain of 11 points at 27,021.
On the global front, Asian stocks closed on mixed note as weak The Shanghai Composite and Hong Kong’s Hang Seng index closed down. Japan’s Nikkei 225 ended higher by 0.92%.
European shares fell on 8th June 2016. The FTSE 100 was trading marginally up. DAX and the CAC 40 are down 0.5% respectively.
L&T gained 1.5% to Rs.1510 after the company announced that its construction arm along with its joint venture (JV) partner in Qatar, Al Balagh Trading & Contracting, has signed a contract to build a 40,000 seater stadium, as part of the sports infrastructure being readied by the Emirate in preparation of the 2022 Fifa World Cup.
JSW Energy climbed 13.5% to Rs.80.35 on reports that the company might clinch the 860 MW Karnataka SEB power purchase deal.
Rajesh Exports dropped 1.4% to Rs.495. The company has announced that it has bagged Rs. 653 crores worth export order.
Siemens soared 4.2% to Rs.1257 after the company announced that, together with Siemens Bangladesh Ltd., it has won an order worth approximately Rs. 113 crore from Power Grid Company of Bangladesh Limited (PGCB) to design, procure, supply, install, test and commission 230/132kV Gas Insulated Switchgear Substation along with 225/300 MVA, 132/33 KV and 50/75 MVA Transformers at Keraniganj with in Dhaka.
JSW Steel gained 1.3% to Rs.1395. The company reported its highest ever monthly crude steel production for May 2016 at 13.48 lac tonnes showing growth of 16% over the corresponding month of previous year.
Shreyas Shipping & Logistics jumped 4% to Rs.402. The company has entered into vessel sharing arrangement with Shipping Corporation of India to commence two coastal services connecting the Middle East commencing from second week of June.
GMR Infrastructure zoomed 2.8% to Rs.11.84. GMR Infrastructure Ltd led consortium won two projects to build parts of India’s upcoming eastern cargo rail corridor, adding up to 221km, at a cost of Rs.2,280.70 crore.
Telecom stocks ended higher by 0.74%. In a move that can bring cheer to telecom companies, the inter-ministerial decision making body approved lower spectrum usage charge of 3% for the coming auctions of radio waves. This charge was 5% in the last two auctions of spectrum. Bharti Airtel Ltd gained 1%, Idea Cellular down 0.19%, Reliance Communications up 1.65%.
USDINR trade today trading up 6 paise at 66.90 per US dollar.
Out of 1,468 stocks traded on the NSE, 474 declined and 940 advanced today.
Top 5 Nifty Gainers: NTPC (1.79%), ONGC (1.16%), Reliance Ind. (1.04%), Axis Bank (0.75%) and GAIL (0.28%).
Top 5 Nifty Losers: Infosys Ltd (-3.45%), Dr. Reddys Lab (-1.73%), Hind Unilever (-1.68%), HDFC (-1.51%) and Asian Paints (-1.34%)
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