The Indian equity market ended with smart gains amid a highly volatile session. After opening on a flat note indices remained under pressure and slipped lower in the first half. However, as the day progressed, a sudden bout of buying in the oil and gas, energy, pharma, IT, metals stocks lifted the benchmarks. On the other hand, FMCG, consumer durables, banking and realty stocks were under pressure. Nifty closed with a gain of 20 points at 8,529, while BSE Sensex ended with a gain of 41 points at 27,788.
On the global front, Asian stocks closed on mixed note. The Shanghai Composite index and Hong Kong’s Hang Seng index closed marginally lower. Nikkei 225 gained 1.3%.
MindTree slumped 8.4% to Rs.562.The company reported a consolidated net profit of Rs. 123.5 crore for the quarter ended 30th June, 2016 registering a decline of 7.14% qoq and 3.74% yoy.
Ashoka Buildcon jumped 4.3% after the company received Letter of Award (LOA) from National Highways Authority of India (NHAI) for the Project viz. Request for Proposal For “Two/Four laning with paved shoulders of Govindpur (Rajgunj)-Chas-West Bengal Border section of NH-32 in the State of Jharkhand on NHDP Phase – IV on EPC mode.
JSW Energy zoomed 1.4% to Rs.81.30. JSW Energy agreed to acquire the 500 MW (2X250 MW) thermal power plant located at Bina in Madhya Pradesh.
Jaiprakash Power Ventures soared 5.4% Rs.6.40. The company posted a net loss of Rs.1961.60 million for the quarter ended June 30, 2016 where as the net profit was at Rs.669.60 million for the quarter ended June 30, 2015.
HUL dropped 2.7% to Rs.895. The company’s standalone revenue stood at Rs.8218.18 crore, rising 5.27% qoq and 3.62% yoy. The company is aiming to become the largest e-commerce player in the grocery/FMCG segment soon.
Idea Cellular jumped 2.4% to Rs.106 after the company slashed the rates of its 4G, 3G BIG Internet packs by upto 67%.
Camlin Fine Sciences surged 3.8% to Rs.95. The company said that State Level Environment Impact Assessment Authority, Gujarat, has granted environment clearance to set up a manufacturing facility for hydroquinone /catechol and its downstream products at the Dahej SEZ. It had investment plans of Rs.180 crore for the unit.
USDINR trade today trading four paise at 67.16 per US dollar.
Out of 1,420 stocks traded on the NSE, 840 declined and 618 advanced today.
Top 5 Nifty Gainers: Coal India (2.52%), GAIL (2.10%), BHEL (1.83%), Dr Reddys Lab (1.60%) and Hero MotoCorp (1.45%).
Top 5 Nifty Losers: Wipro (-3.14%), ICICI Bank (-1.15%), Tata Motors (-1.06%), HDFC (-0.80%) and Maruti Suzuki (-0.63%)
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