The Indian stock market rallied sharply on Monday with the NSE Nifty re-conquering the 8450 mark. The momentum was so strong that not a single sectoral index on the BSE ended in the red. The metal, auto, banking, finance, industrial, power, oil & gas, pharma and energy stocks were the top gainers. Nifty closed with again of 145 points at 8,468, while BSE Sensex ended with a gain of 500 points at 27,627.
On the global front, Asian markets closed in green. The Shanghai Composite index and Hong Kong’s Hang Seng index closed higher. and Nikkei 225 gained 3%.
Coal India closed 2.8% higher at Rs.320 ahead of the board meeting. The company will consider a proposal to buy back its shares at a meeting scheduled for July 11. At present the Central government holds 79.65% stake in the company.
Ashok Leyland slipped 0.59% to Rs.93.35 after the company bagged orders for nearly 3600 Buses from various STUs in the current fiscal.
Cadila Health care rose 3.2% to Rs.370.80 on BSE. The drug major sees big growth opportunity in US and Latin American formulation markets and plans to enhance share in the US generics market by launching complex, oral solids and formulations.
Tata Motors climbed 4% to Rs.484.50 on BSE. Tata Motors Group global wholesales in June 2016, including Jaguar Land Rover, were at 92,551 units, higher by 21%, over June 2015 whereas cumulative wholesales for the fiscal were 2,61,262 units, higher by 12%, over 2015-16.
Surya Roshni rose 2.8% to Rs.172. The company informed that Care rating has upgraded the rating of its short term bank facilities to Care A1 and long term bank facilities to Care A.
Premier Explosives jumped 3%. The company announced that the company delivered its 1000th Akash Missile Booster Grain to Bharat Dynamics Limited at a special event held on July 09, 2016, at its factory premises in Peddakandukuru village in Nalgonda district, Telangana state.
USDINR trade today trading up 16 paise at 67.20 per US dollar.
Out of 1,439 stocks traded on the NSE, 596 declined and 767 advanced today.
Top 5 Nifty Gainers: Axis Bank (1.95%), ICICI Bank (1.70%), Tata Steel (1.13%), Maruti Suzuki (1.12%) and NTPC (0.95%).
Top 5 Nifty Losers: Coal India (-1.44%), BHEL (-0.93%), CIPLA (-0.80%), Sun Pharma (-0.77%) and Dr. Reddys Lab (-0.68%)
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