Stock market in India started off the week on a bright note despite Reserve Bank of India Governor Raghuram Rajan saying no to a second term. Indices which opened with a gap down, recovered all its losses and managed to close almost near day’s high. The rally was sparked by strong buying seen in the IT, telecom, metals and realty stocks. Even, the mid-cap and small cap stocks participated in the rally. Nifty closed with a gain of 68 points at 8,239, while BSE Sensex ended with a gain of 241 points at 26,867.

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 gained 2% each.

Aviation stocks ended higher after govt decided to permit 100% FDI under automatic route in Brown field Airport projects. SpiceJet rallied 7.4%. Indigo and Jet Airways rose 6% respectively.

Shares of real estate companies closed higher for the second straight day on the bourses after SEBI proposed further relaxations to the real estate investment trusts (Reits) regulations, to attract real estate developers towards launching these instruments. DLF closed higher 4% each.

Unitech soared 6.7% to Rs.6.04.Court orders proceedings against Unitech, top bosses for cheating. The company clarified that Unitech is a professionally managed company and Directors are not involved its day-to-day affairs.

Max Financial Services climbed 5.8% to Rs.500.The Board of Directors of HDFC Standard Life Insurance Company Limited, Max Life Insurance Company Limited and Max Financial Services Limited at their respective meetings approved entering into a confidentiality, exclusivity and standstill agreement to evaluate a potential combination through a merger of Max Life and Max Financial Services into HDFC Life by way of a scheme of arrangement.

Gammon India hit 20% upper circuit at Rs.14.89.The company reported a net profit of Rs 53.38 crore for the quarter ended March 31,2016.

Tata Chemicals dropped 1% to Rs.426. The company decided to supply Di-ammonium Phosphate (DAP) to its customers from inventory in hand and imports, and consequently production of complex fertilizers, including DAP, is being temporarily suspended at Haldia, West Bengal.

Axis Bank slipped 1% to Rs.522. The bank said that the bank’s Marginal Cost of Funds based Lending Rate (MCLR) for overnight loans will be 8.95%, the rate for one month will be 9.05% and for three months it will be 9.25%.

Eros International rallied 2.4% to Rs.211 after the company announced strategic partnership with Vashu Bhagnani by signing a term sheet to acquire a 50% stake in his film company, Puja Entertainment & Films Ltd.

Cadila Health care gained 0.85% to Rs.316. Zydus strengthened its US portfolio with the acquisition of two ANDAs from Teva that are being divested by Teva as a per-condition to its acquisition of Allergan’s generic business.

USDINR trade today trading down 36 paise at 67.43 per US dollar.

Out of 1,439 stocks traded on the NSE, 596 declined and 767 advanced today.

Top 5 Nifty Gainers: ONGC (1.19%), Adani Ports & Sez (1.14%), GAIL (1.08%), Bajaj Auto (1.07%) and M&M (0.93%).

Top 5 Nifty Losers: BHEL (-1.09%), Axis Bank (-1.03%), Asian Paints (-0.88%), Reliance Ind. (-0.81%) and L&T (-0.76%)

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The Indian equity market closed with modest gain son Friday (17^th June 2016) a mid a choppy session. In dices managed to clock in marginal gains tracking positive global cues. The realty, auto, telecom and FMCG stocks were the top gainers followed by metal, finance and IT stocks. On the other hand, health care, capital goods and oil & gas stocks were under pressure. Nifty closed with again of 29 points at 8,170, while BSE Sensex ended with a gain of 100 points at 26,626.

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 gained 1% each.

European markets were trading higher. The FTSE 100 was trading up 1.4%. DAX and the CAC 40 were trading higher 1.2% each.

GOCL Corporation jumped 8.4% to Rs.173 after the company bagged an order worth Rs. 127.71 crores.

Axiscades Engineering Technologies soared 2% to Rs.260 after the company said it has decided to establish its wholly owned subsidiary in Germany.

United Breweries (Holdings) tumbled 3.6% to Rs.21.45. The company said it is seeking legal advice to take appropriate steps after the Enforcement Directorate attached properties worth Rs,1,411 crore belonging to the company and its promoter Vijay Mallya in the IDBI Bank loan default case, as per media reports.

V-Guard Industries zoomed 5.3% to Rs.1,392 on BSE. The company informed BSE that the Board of Directors of the company at its meeting held on June 16, 2016, considered and approved the proposal for splitting of equity shares of the company, subject to the approval of the shareholders in respect thereof, in the 20th Annual General Meeting of the Company.

Carborundum Universal dropped 2% to Rs.215 on BSE. Reserve Bank on Thursday(16^th June 2016)allowed foreign investors to buy more equity in Carborundum Universal as their shareholding had slipped below the prescribed limit.

Ujaas Energy gained 1.3% to Rs.24 on BSE. The company received an order for “Designing, Engineering, Procurement & Supply, Construction & Erection, Testing & Commissioning and Comprehensive Operation & Maintenance for 10 years of 3MW (AC) Solar PV Power Plant on Turnkey Basis in UP.

A total of 50 stocks registered a fresh 52-week high in trades today, whereas 23 stocks touched a new 52-week low on the NSE.

USDINR trade today  trading down two paise at 67.19 per US dollar.

Out of 1,480 stocks traded on the NSE, 742 declined and 673 advanced today.

Top 5 Nifty Gainers: L&T (1.70%), TCS (1.30%), Bharti Airtel (1.21%), Infosys Ltd (1.21%) and Wipro (0.91%).

Top 5 Nifty Losers: Axis Bank (-1.20%), Lupin Ltd (-1.05%), Asian Paints (-0.71%), SBI (-0.52%) and Sun Pharma (-0.44%)

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After taking a breather in the previous session, the bears were back on Dalal Street. The market managed to pare some losses by closing off days low led by decline in the telecom, banking, capital goods, auto and FMCG index. Only the metals index ended with gains. Nifty closed with a loss of 66 points at 8,141, while BSE Sensex ended with a loss of 201 points at 26,525.

On the global front, Asian markets decline. The Shanghai Composite index closed marginally lower. Hong Kong’s Hang Seng index dropped 2% and Nikkei 225 cracked 3.2%.

European stocks were under pressure too as equity indices declined towards their lowest level in nearly 4-months as concerns lingered over Britain’s vote on next week. The FTSE 100 was trading down 0.65%. DAX and the CAC 40 were trading down 0.8% each.

On the economy front, India’s merchandise exports fell 0.79% at US$22.17bn in May 2016 over May 2015. Non-petroleum exports rose 1.01% at US$20.19bn in May 2016 over May 2015. Imports fell 13.16% at US$28.44bn in May 2016 over May 2015.

Maruti Suzuki dropped 3% to Rs.4,084. The stock was the top Nifty loser today. A strong yen adversely impacts Maruti Suzuki India’s operating profit margin. Japanese yen gains beyond 105/$ for first time since Sept 2014 after Bank of Japan kept policy unchanged.

Sterlite Tech jumped 5% to Rs.81.40 on Thursday. The company fixed June 16 as record date for determining eligible shareholders for the proposed de merger, as per reports.

Indian Hotels rallied 2.2% to Rs.130.25 on the BSE amid reports that foreign brokerage house – Morgan Stanley upgraded the stock to overweight from underweight earlier. Morgan Stanley almost doubled the target price for the stock to Rs.160 from Rs.83 earlier.

Deccan Cements Ltd rose 6% to Rs.877 after the company said in a notice to BSE that ICRA upgraded the rating of the company to A from BBB+ citing improvement in operational and financial performance of the company in fiscal year 2016.

TVS Motor closed marginally lower at Rs.291 on BSE. The company aims to increase the share of its best selling scooter model Jupiter to 12% in the highly competitive 110 cc scooter segment in 2016.

3I Infotech Ltd surged 18% to Rs.5.31 on BSE. The company said corporate debt restructuring panel approved debt restructuring scheme. The lenders approved converting 40% debt in to equity shares.

Oil marketing companies such as IOC, BPCL and HPCL shed up to 0.6% after petrol price was marginally hiked by 5 paise a litre and diesel by Rs 1.26 a litre.

Jindal Stainless (Hisar) soared 10.4% to Rs.40.80 on the BSE. The company experienced a spurt in volumes by more than 12.28 times.

State Bank of Mysore hit 20% upper circuit to Rs.657 after Union Cabinet approved the takeover by State Bank of India (SBI) of several subsidiaries, according to reports.

Inox Leisure slipped 0.61% to Rs.221 on BSE. The company announced an association with Paytm, to sell movie tickets to moviegoers.

Pricol jumped 9.3% to Rs.84.The company sold entire shareholding of Integral Investment for a consideration of Rs.27.84 mn.

USDINR trade today trading down seven paise at 67.22 per US dollar.

Out of 1,380 stocks traded on the NSE, 430 declined and 909 advanced today.

Top 5 Nifty Gainers: Axis Bank (1.66%), Maruti Suzuki (1.47%), Coal India (1.38%), HDFC (1.22%) and HDFC Bank (1.14%).

Top 5 Nifty Losers: Infosys Ltd (-0.73%), Sun Pharma (-0.49%), Tata Steel (-0.39%), Hind. Unilever (-0.32%) and Lupin Ltd (-0.27%)

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