Stock market in India ended in the green for fifth consecutive trading session. Healthy macro-economic data and positive global cues lifted the indices to close higher on Friday(1st July). Healthy buying was witnessed in capital goods, pharma and oil & gas stocks.Even, mid-cap and smallcap stocks participated in the rally. Nifty closed with again of 41 points at 8,328, while BSE Sensex ended with a gain of 145 points at 27,145.
On the global front, Asian markets closed in green. Hong Kong’s Hang Seng index and Nikkei 225 climbed 1% respectively. The Shanghai Composite index closed marginally up.
Oil marketing companies stocks surge higher after Petrol price was slashed by 89 paise a litre and diesel by 49 paise a litre on Thursday. Indian Oil Corporation jumped 7.3% to Rs.473 on the BSE. Bharat Petroleum Corporation zoomed 2%. Hindustan Petroleum Corporation Ltd climbed 2.5% to Rs.1020.55 on BSE.
KPIT Technologies tumbled 14.3% to Rs.157.50 on BSE. The company issued a margin warning for Q1 FY17 expecting a drop in revenues of around 4% in Q1 with a consequent drop in profitability.
Gujarat NRE Coke zoomed 3.2% to Rs.3.18 after the company said its board approved allotting 24.47 million shares at Rs.11.03 a share to IDBI Bank on preferential basis.
ITC Ltd jumped 2.8% to Rs.252.35 on BSE. The stock was traded ex-bonus (1:2) on Friday.
Shriram Transport Finance Company gained 2% Rs.1,225 on the BSE. The company has informed BSE that it is considering raising of funds through various options of borrowings including by way of issue of Secured Redeemable Non-Convertible Debentures (NCDs) on private placement basis. Based on the market conditions the meeting(s) of Banking and Finance Committee will be held during the current month ending July 31, 2016 to consider and approve the terms of such borrowings.
Sandur Manganese & Iron Ores Ltd jumped 4.3% to Rs.601 after the company has informed BSE that the Central Empowered Committee (CEC), constituted by the Hon’ble Supreme Court of India has vide letter dated June 27, 2016 (received on June 30, 2016) communicated its approval for enhancement of Company’s Manganese Ore production limit to 0.254 Million Tonnes Per Annum (MTPA) which was hitherto reduced from 0.55 MTPA to 0.18 MTPA as intimated to the Exchange on January 24, 2013.
India Tourism Development Corp Ltd dropped 5.6% to Rs.249 after media report said that the government is planning to sell its 12.03% stake in the company via offer for sale. The government has invited bids by 21 July to appoint merchant bankers for the stake sale.
Adani Transmission rose 1.3% to Rs.39 after the company said it is in pact with GMR Energy to buy 74% stake in Maru Transmission Services Co and 46% stake in Aravali Transmission Services with an option to acquire 100% stake in a manner consistent with Transmission Service Agreement and applicable consents. The Value for 100% stake of both the projects is at Rs.100 crore.
SML Isuzu slipped 1.2% to Rs.1145 on BSE. The company has sold 1,560 vehicles during June 2016 against 1,529 vehicles sold in June 2015. The cumulative sales for April-June 2016 stood at 4,893 vehicles, a rise of 28.4 per cent as compared to 3,810 vehicles sold in April-June 2015.
Maruti Suzuki closed marginally down after June sales have dropped 13.9% to 98,840 units yoy. This includes 92,133 units in the domestic market and 6,707 units of exports. The company had sold a total of 1,14,756 units in June 2015.
Sintex Industries jumped 3.5% to Rs.84 and NIIT Technologies gained 1% to Rs.517, as both stocks will be added in NSE futures & options segment.
USDINR trade today trading up 11 paise at 67.41 per US dollar.
Out of 1,473 stocks traded on the NSE, 635 declined and 793 advanced today.
Top 5 Nifty Gainers: Tata Motors (3.43%), ONGC (2.96%), BHEL (2.20%), ICICI Bank (1.75%) and SBI (1.59%).
Top 5 Nifty Losers: ITC Ltd (-2.20%), Hind. Unilever (-1.02%), Hero Motocorp (-0.58%) and Bajaj Auto (-0.41%)
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