Stock market in India rallied on 7 June 2016 after the Reserve Bank of India kept an accommodating stance in its second bi-monthly policy review for the current fiscal. RBI Governor Raghuram Rajan kept benchmark repo rate unchanged at 6.5% and CRR at 4%. The central bank also left statutory liquidity reserve unchanged. Nifty closed with a gain of 65 points at 8,266, while BSE Sensex ended with a gain of 232 points at 27,010.

On the global front, most of the Asian indices closed their day on a positive note. Hong Kong’s Hang Seng ended higher by 1.42%, while Japan’s Nikkei 225 closed with gains of 0.58%. The European indices also witnessed buying interest. The FTSE 100 was up 0.47%, France’s CAC 40 gained 1.18% and Germany’s DAX was up 1.66%. The rupee was trading at Rs 66.75 to the dollar at the time of writing.

Pharma stocks are trading mixed with IPCA Labs and Ajanta Pharma leading the gains. As per a leading financial daily, Gavis Pharmaceutical LLC, the US arm of Lupin Ltd has received a final nod from the US health regulator to launch Voriconazole tablets. The drug is used to treat infections in skin, abdomen, kidney, bladder wall and wounds.

Vfend tablets and Vfend oral suspension had sales of US$ 92.8 million and US$ 15.9 million, respectively in the US as at the end of FY16.

The company has stated that it shall commence marketing the drug in the US shortly.

Many companies including the likes of Ajanta Pharma and Zydus Cadila Pharma have received US FDA approvals to sell this drug. Hence, the competition seems to be tough in this segment.

Lupin is an India-based transnational pharmaceutical company. It is engaged in manufacturing and marketing of branded and generic formulations, and active pharmaceutical ingredients (APIs). The Mumbai-based firm has launched 9 products in the US market and received approvals for 20 products from the USFDA so far this fiscal. On an overall basis, over 160 product filings are pending for approval with the USFDA between Lupin and Gavis together. Lupin has a portfolio of 124 products in the US market.

Stock of Lupin closed the day up by around 1.3%.

Moving on to the news form the banking space. Axis Bank has raised US$ 500 million at the London stock exchange through the issue of green bonds. Green bonds are a relatively new asset class carrying a lower coupon rate and are a cheap source of finance.

The proceeds from the bonds will be invested in renewable energy, transportation and infrastructure projects. The notes have been issued at a price of 99.479 at a yield of 2.9%.

Talking about renew ables, government has an ambitious target of 100 gigawatt (GW) solar energy by 2022. The funds raised could help to achieve this mammoth goal.

USDINR trade today trading up 18 paise at 66.78 per US dollar.

Out of 1,807 stocks traded on the NSE, 616 declined and 916 advanced today.

Top 5 Nifty Gainers: Bharti Airtel (2.48%), BHEL (1.59%), ONGC (1.41%), ICICI Bank (1.24%) and HDFC (0.98%).

Top 5 Nifty Losers: Asian Paints (-1.21%), Infosys Ltd (-1.00%), Coal India (-0.68%), HDFC Bank (-0.62%) and TCS (-0.55%)

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After opening on flat note, indices were stuck in a narrow trading range throughout the day. Investors maintained cautious approach ahead of Reserve Bank of India’s (RBI) monetary policy review due on Tuesday. Nifty closed with loss of 20 points at 8,201, while BSE Sensex ended with a loss of 66 points at 26,777.

On the global front, Asian stock market closed on a mixed note with Japan shares losing ground. The Shanghai Composite closed down 0.15%. Hong Kong’s Hang Seng index gained 0.39% and Japan’s Nikkei 225 ended lower by 0.38%.

European stocks rose on Monday. The FTSE 100 was trading higher by 1%. DAX and the CAC 40 are trading marginally higher.

Sugar stocks closed higher on BSE. ICRA expects the supply correction during sugar year 2015-16 to benefit the domestic sugar manufacturers. Dwarikesh Sugar Industries rallied 5.6% to Rs.233. The company has appointed ‘Strategic Growth Advisors’ for strengthening the investor relationship function of the company with stakeholders to boost the strategic growth of the company with their specialized knowledge, according to reports.

Sun Pharma dropped 1.7% to Rs.726. The company announced that as a part of its manufacturing consolidation in the US, one of its wholly owned subsidiaries has entered into an agreement with Frontida BioPharma.

Biocon jumped 3.3% to Rs.726 on BSE. Mylan and Biocon announced the presentation of data from the HERITAGE study at the 2016 American Society of Clinical Oncology (ASCO) Annual Meeting in Chicago, June 3-7. The study confirmed the efficacy, safety and immunogenicity of MYL-1401O, the proposed biosimilar trastuzumab co-developed by Biocon and Mylan, in comparison to branded trastuzumab.

Jubilant Life Sciences rallied 4% to Rs.367. The company received ANDA final approval for Levetiracetam Injection USP, 500 mg/5 mL (100 mg/mL), the generic version of Keppra Injection 500mg/5mL (100mg/mL) of UCB, which is used for the treatment of epilepsy.

Bharat Forge dropped 1.4% to Rs.741. The company said its North America Class 8 truck orders in May fell 30% to 14,100 units from a year ago. The order inflows have now declined continuously for 15 consecutive months and slipped 32% on yoy basis over the April 2015-May 2016 period.

Steel Strips Wheels jumped 6.7% to Rs.441. The company’s promoter – Chandigarh Developers – has increased its stake in the company via open market purchase. The promoter, on June 3, 2016, purchased 24,949 equity shares representing 0.17% stake of the company through open market, according to reports.

Cadila Health care gained 1% to Rs.323 after receiving final approval from the US FDA to market Amantadine hydrochloride capsules.

USDINR trade today trading up 28 paise at 66.96 per US dollar.

Out of 1,442 stocks traded on the NSE, 775 declined and 644 advanced today.

Top 5 Nifty Gainers: SBI (2.54%), ICICI Bank (2.16%), Hind. Unilever (1.37%), Hero Motocorp (1.15%) and M&M (1.11%).

Top 5 Nifty Losers: Adani Ports & Sez (-0.59%), HDFC (-0.53%), Dr. Reddys Lab (-0.48%), Axis Bank (-0.47%) and Lupin Ltd (-0.32%)

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The Indian equity market ended almost unchanged on 3 June 2016 erasing all its early gains. After opening with a positive bias, indices failed to carry forward the momentum. Selling pressure in the telecom, capital goods and realty stocks saw the benchmarks close almost near day’s low. The health care, consumer durables and industrials stocks too ended lower. Even the mid cap and small cap stocks ended with marginal losses. On the other hand, banking, auto and energy stocks ended with gains. Nifty closed with a gain of mere two points at 8,221, while BSE Sensex ended almost flat at 26,843.

On the global front, Asian stock market closed higher ahead of US payroll data. The Caixin China services purchasing managers index eased to a three-month low of 51.2 in May from 51.8 in April. The Shanghai Composite closed up 0.4%. Hong Kong’s Hang Seng index and Japan’s Nikkei 225 ended higher by 0.44% each.

In Europe, the FTSE 100 was trading higher by 0.90%. DAX and the CAC 40 are trading marginally higher by 0.3% respectively.

Axis Bank climbed 3.5% to Rs.542.80 on BSE. The stock was the top Nifty 50 gainer. The bank has allotted senior fixed rate green bonds aggregating to $500 million under the medium term note (MTN) programme through its Dubai International Financial Centre (DIFC) branch. The notes will be listed at the Singapore Stock Exchange and London Stock Exchange. The notes have been priced at 160 basis points over the 5-year US Treasury Note, at a price of 99.479% to yield 2.988%. The notes will be denominated in US dollars, and will bear fixed interest of 2.875% per annum, with interest payable semi-annually in arrears.

Natco Pharma jumped 8.5% to Rs. 518.35. The company announced that its marketing partner, Mylan Inc., has received a tentative approval for its Abbreviated New Drug Application (ANDA) for Sorafenib Tablets, 200mg, with the U.S. Food and Drug Administration (USFDA).

Idea Cellular cracked 10% to Rs.107 after block deal. More than 3% of total equity worth of around Rs.1,400 crore of the company changed hands via multiple block deals. Providence Equity Partners is planning to sell almost half of its stake in telecom operator Idea Cellular Ltd in a block trade for about $209 million (about Rs.1,400 crore), says report.

MOIL surged 5.3% to Rs.233.25 after the company announced that the board will meet on June 7, to consider buyback of equity shares.

NMDC rallied 4.5% to Rs.90.30 on BSE. The board of director of the company to consider the proposal for Buy Back of the fully paid-up equity shares of the Company of face value of Rs. 1 each. In pursuance of the Internal Code of Conduct for Prevention of Insider Trading in dealing with securities of NMDC Limited, the trading window shall remain closed from June 03, 2016 to June 09, 2016 (both days inclusive), in connection with the above scheduled meeting.

HUL gained by 1.8% to Rs.885 after the company separated its food & beverages business into two divisions, appointing a new executive director (ED) for beverages.

Rajesh Exports slumped 4.9% to Rs.536.45. The company is eyeing $150-170mn acquisition in Dubai to expand refining capacity and increase margins, according to reports.

BPCL gained 1% to Rs.1,013 on BSE. The company has announced that it has received shareholder nod to increase FII Investment Limit to 49%.

A total of 60 stocks registered a fresh 52-week high in trades today, whereas 35 stocks touched a new 52-week low on the NSE.

USDINR trade today trading down 3 paise at 67.32 per US dollar.

Out of 1,461 stocks traded on the NSE, 828 declined and 574 advanced today.

Top 5 Nifty Gainers: M&M (2.00%), SBI (1.50%), GAIL (1.50%), CIPLA (0.90%) and HDFC Bank (0.60%).

Top 5 Nifty Losers: Maruti Suzuki (-2.20%), Bharti Airtel (-1.90%), Adani Ports & Sez (-1.40%), Coal India (-1.30%) and Axis Bank (-1.20%)

To qualify NCFM Capital Market Dealers Module certification examination, register with Intelivisto.com and buy Capital Market comprehensive question bank which features mock test, chapter-wise and full length test as per NCFM standards. It also includes performance analysis tools to analyze the performance. For more information call on: +91-9582000102.