The Indian equity market ended on a flat note on Wednesday amid lackluster day of trades. Profit booking, coupled with disappointing macro-economic inflation data and lower crude oil prices saw the indices close with negligible losses. Nifty closed with a loss of mere two points at 8,520, while BSE Sensex ended with gains of seven points at 27,815.
On the global front, Asian markets closed in green. The Shanghai Composite index and Hong Kong’s Hang Seng index closed higher. Nikkei 225 gained 0.84%.
NBCC cracked 10.7% to Rs.229.80 on BSE. The Centre cleared a proposal to sell its stake in NBCC India with an aim to meet the Rs.56,500 crore PSU disinvestment target in 2016-17.
ITI galloped 18.7% to Rs.34.15 on BSE. Today, the Cabinet approved the sale of assets of the company. Government of India, which holds 90% stake in the manufacturer of telephone and communications equipment & parts, has been providing support to the company through capital infusion and orders from the state-run companies.
Ruchi Soya Industries ended lower 0.65% to Rs.22.85 on BSE. The company been served with a copy of winding up petition filed by one of its Creditors before the Hon’ble High Court of Bombay. The Company will take appropriate legal recourse in the matter.
RPP Infra Projects soared 4.3% after the company announced that its wholly owned subsidiary, situated in Sri Lanka, bagged order work of High Commission of India Colombo worth of US $10.36mn.
HCC slipped 1.2% to Rs.24. The Joint Lender’s Forum meeting of HCC held on July 12, 2016 (Reference Date) has passed to resolve the account under the recent RBI guidelines ‘Scheme for Sustainable Structuring of Stressed Assets (S4A)’.
Alok Industries gained 2% to Rs.4.25. Report says that lenders led by the State Bank of India are looking to recover loans worth Rs 20,000 crore given to the company.
USDINR trade today trading up nine paise at 67.09 per US dollar.
Out of 1,462 stocks traded on the NSE, 1,007 declined and 414 advanced today.
Top 5 Nifty Gainers: Tata Steel (4.47%), GAIL (3.71%), ONGC (3.01%), BHEL (2.35%) and Coal India (2.00%).
Top 5 Nifty Losers: Lupin Ltd (-1.68%), L&T (-1.20%), Maruti Suzuki (-1.14%), Asian Paints (-0.90%) and Tata Motors (-0.88%)
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