The Indian stock market showed signs of resilience for second consecutive trading session on Tuesday as benchmarks surged higher. Nifty surpassed the 8100 mark while the BSE Sensex ended above the 26, 500 mark. Sentiment got a fillip as European indices too staged a strong recovery ahead of the commencement of a two-day European Council meet. Nifty closed with a gain of 33 points at 8,128, while BSE Sensex ended with a gain of 122 points at 26,524.55.
On the global front, Asian markets closed in green. The Shanghai Composite index and Nikkei 225 closed marginally higher. Hong Kong’s Hang Seng index slipped 0.27%.
Tata Communications climbed 2.4% to Rs.461. Liquid Telecom, a privately owned, pan-African telecoms group, majority owned by Econet Wireless Global, announces that it has entered into an agreement to acquire South African communications network operator Neotel.
Aditya Birla Nuvo rallied 3.7% to Rs.1166 on BSE. The company entered into a joint venture with MMI Holdings, a South African financial services group, to enter the Indian health insurance market. As per the agreements, Aditya Birla Nuvo will hold 51% share in the joint venture company named Aditya Birla Health Insurance Co Ltd (ABHICL).
Gujarat Gas rose 6.5% to Rs.556, as the company was granted permission to develop city gas distribution network (CGD) in Ahmedabad district.
A2Z Infra Engineering jumped 15.2% to Rs.41.80 after the company has informed BSE that a contract has been awarded from Ministry of Energy and Mineral Development vide the Notification of Award/letter of award dated June 23, 2016 for Design, Supply and Construction of MV lines and associated low voltage network in various project areas along Kawanda Masaka 220KV Transmission Line Ref. No. MEMD/ESDP/WRKS/15-16/00010 for contract price of aggregating to USD 3.84 million.
Panacea Biotec hit 10% upper circuit at Rs.127.25. The company has launched indigenously developed high quality anti diabetic drug, TENEPAN for treatment of Type 2 diabetes Mellitus (T2DM).
Trent Ltd zoomed 5.4% to Rs.1,768 on BSE. The board of directors of the company has approved the sub-division of equity shares of the company having a face value of Rs.10 per share into equity shares having a face value of Rs. 1 each. Further, the Board also approved an enabling resolution for raising of funds by issue of Non- Convertible Debentures on a private placement basis upto an amount not exceeding Rs.300 crores.
Siemens jumped 2.8% to Rs.1,290 after the engineering firm announced that it has secured order worth Rs.570 crore from Power Grid.
USDINR trade today trading up seven paise at 67.87 per US dollar.
Out of 1,452 stocks traded on the NSE, 475 declined and 922 advanced today.
Top 5 Nifty Gainers: Hero Motocorp (1.90%), NTPC (1.72%), BHEL (1.72%), Asian Paints (1.48%) and Tata Motors (1.44%).
Top 5 Nifty Losers: ITC Ltd (-0.77%), GAIL Axis Bank (-0.53%), Hind. Unilever (-0.51%), Coal India (-0.21%) and HDFC Bank (-0.09%)
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