After gaining for six consecutive trading sessions, the Indian equity market closed lower on Tuesday. Profit booking combined with negative global cues and a weak rupee dampened sentiment. Nifty closed with a loss of 35 points at 8,336, while BSE Sensex ended with a loss of 112 points at 27,167.
On the global front, Asian shares closed mixed. Japan’s Nikkei, Hong Kong’s Hang Seng dropped between 0.6%-1.4% while China’s Shanghai Composite closed in green.
On the political front, PM Narendra Modi inducted 19 new ministers into the Council of Ministers.
Jaiprakash Associates rallied 27.9% to Rs.11.62 on BSE after UltraTech Cement agreed to pay ahigher price to acquire its cement assets.
HCC jumped 10.3% to Rs.23.05. The company has been awarded Rs.2,523 crore contract by the Mumbai Metro Rail Corporation Limited (MMRCL).
Tata Steel gained 1% to Rs.334. The company said its hot steel production rose by 16.66 per cent to 3.01 million tonnes (MT) in the first quarter of the current fiscal.
Reliance Industries rose 0.64% to Rs.992. The company received approval from the Ministry of Environment & Forests (MoEF) to drill eight additional exploratory wells in Tamil Nadu, according to reports.
IFCI dropped 1.4% to Rs.27, after the company sold 2.25 lakh shares in NSE at Rs.3,950 a share. However, the company put on hold selling its remaining 3.05 per cent stake in NSE.
Tata Teleservices jumped 4.5% to Rs.7.19. The company is gradually shutting its CDMA operations running on the 850 Mhz band and writing off its equipment value, said three people familiar with the company’s plans.
USDINR trade today trading down 23 paise at 67.49 per US dollar.
Out of 1,535 stocks traded on the NSE, 829 declined and 646 advanced today..
Top 5 Nifty Gainers: Dr. Reddys Lab (1.31%), Hind. Unilever (1.26%), Bharti Airtel (0.94%), CIPLA (0.83%) and HDFC (0.76%).
Top 5 Nifty Losers: Adani Ports & Sez (-1.33%), NTPC (-1.28%), Infosys Ltd (-1.16%), TCS (-0.67%) and L&T (-0.56%)
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.