After gaining for two consecutive trading sessions, the Indian equity market closed lower on (21st June 2016)Tuesday. Profit booking combined with negative global cues and a weak rupee dampened the sentiment. Market participants also were cautious ahead of the UK referendum scheduled on Thursday. In addition, investors were also seen concerned about US Federal Reserve Chairperson Janet Yellen’s testimony to the US Congress. The testimony can provide further cues towards the next phase of the key lending rate hikes. Nifty closed with a loss of 19 points at 8,220, while BSE Sensex ended with a loss of 54 points at 26,813.
On the global front, Asian shares closed mixed. Japan’s Nikkei and Hong Kong’s Hang Seng gained between 0.7%-1.3% while Singapore’s Straits Times and China’s Shanghai Composite closed in red.
European shares were trading flat with a slight negative bias. The FTSE 100 was trading down 0.30%. DAX and the CAC 40 were trading on a mixed note.
Auto stocks gained 0.58% on BSE. The auto stock rose in a weak market on hopes that above normal monsoon would drive demand for two-wheelers and tractors among others. Ashok Leyland rallied 2.4% to Rs.102. Motherson Sumi Systems, M&M and Amara Raja Batteries closed above 1% each.
Mandhana Industries hit 20% lower circuit on BSE today after it was reported that the company will demerge its retail operations into Mandhana Retail Ventures. Meanwhile, the company may ink new contract with Being Human, promoted by Salman Khan.
Muthoot Finance rallied 3% to Rs.268 on BSE after the company announced the completion of acquiring its insurance broking arm.
Siti Cable Network climbed 2.8% to Rs.38.05 on BSE. The company said in a notice to BSE that its promoters to hike stake in the company by up to 3.67% and buying of shares will start on 27 June.
Bliss GVS Pharma soared 6.2% to Rs.94.85 on BSE after the government yesterday revised the FDI norms for the Indian pharma sector. The scrip yesterday also surged by more than 10%.
Gammon India hit 20% upper circuit at Rs.17.86 on BSE. The company reported a net profit of Rs.53.38 crore in March quarter as compared to net loss of Rs.73.53 crore a year ago.
Take Solutions climbed 3% to Rs.169. The company is planning to sell its supply chain management business to focus more on the life sciences sector that contributes over 75% of revenue, as per media reports.
Man Infra tumbled 3.6% to Rs.44.25. The company received order worth Rs.751.69 crore from Bharat Mumbai Container Terminals Private Limited for development of the fourth container terminal at JNTP in Mumbai.
Kesar Terminals & Infrastructure jumped 13% to Rs.513. The company informed BSE that a meeting of the Board of Directors of the company will be held on June 24, 2016, inter alia, to consider issue of bonus shares.
Entertainment Network zoomed 2.5% to Rs.740 after the parent company said it will be investing $100 million in marketing technology platform Columbia, as per media reports.
Godawari Power & Ispat dropped 2.5% to Rs.57.50 on BSE. The company suspended mining operations at Rajnandgaon in Chhattisgarh due to labour unrest.
Balaji Telefilms dipped 1.1% to Rs.109 on BSE. The company informed bourses that ‘Udta Punjab’ has grossed Rs 53.80 crore in its opening weekened worldwide, with India contributing Rs 45.40 crore and international markets contributing Rs 8.40 crore.
Tata Motors rose 1% to Rs.485 on BSE. Tata Motors’ subsidiary — Jaguar Land Rover (JLR) has launched 2 litre petrol derivative of Land Rover Discovery Sport at a starting price of Rs.56.50 lakh (ex-showroom, Delhi).
Hindustan Construction Company dipped 2% to Rs.20.35. The company is planning to raise Rs.1,000 crore through issue of securities.
Supreme Infrastructure gained 1.2% to Rs.118.95. The company bagged two land development projects for Navi Mumbai Internationl Airport for Rs.398 crore.
USDINR trade today trading down 21 paise at 67.51 per US dollar.
Out of 1,415 stocks traded on the NSE, 701 declined and 644 advanced today.
Top 5 Nifty Gainers: Dr. Reddys Lab (2.46%), ICICI Bank (1.05%), M&M (0.82%), Cipla (0.68%) and Asian Paints (0.67%).
Top 5 Nifty Losers: Tata Motors (-1.77%), Hind. Unilever Axis Bank (-0.84%), Tata Steel (-0.61%), Reliance Ind. (-0.53%) and GAIL (-0.31%)
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