The Indian stock market rallied for the second consecutive session on Wednesday. Today’s upsurge was led by the realty, pharma, power, oil & gas, energy, FMCG, basic materials and banking stocks. On the other hand, telecom and consumer durables stocks were among the major losers. Nifty closed 37 points higher at 8,566 points, while BSE Sensex ended with a gain of 128 points at 27,916.
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%.
Wipro tumbled 2% to Rs.538.60. The IT major disappointed as consolidated Profit after tax (PAT) of the company stood at Rs. 2052 crore in Q1 FY17 as compared with Rs.2238 crore in Q4 FY16.
Anant Raj hit 20% upper circuit to Rs.56.45 after the company’s board has approved demerger of some operations. Under the plan, the company will demerger the real estate division of Anant Raj Agencies into Taurus Promoters & Developers and the remaining business of Anant Raj Agencies will be merged with Anant Raj. This demerger is being done to simplify the promoter holding structure in Anant Raj.
Aurobindo Pharma zoomed 5% after the company received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Rosuvastatin Calcium Tablets, 5 mg (base), 10 mg (base), 20 mg (base) and 40 mg (base).
DHFL gained 1.4% to Rs.220 on BSE. The company has posted a net profit after tax of Rs.2,014 million for the quarter ended June 30, 2016 as compared to Rs.1,732.80 million for the quarter ended June 30, 2015.
Bharat Heavy Electricals Limited soared 3.4% after the company has successfully commissioned the third unit of the 4×40 MW Teesta Low Dam Hydro Electric Project (HEP) Stage-IV in West Bengal.
Glenmark Pharmaceuticals jumped 2.3% to Rs.853 after the company said it has received final approval from the US health regulator USFDA for Rosuvastatin calcium tablets, used in lowering cholesterol.
Steel Strips Wheels Ltd climbed 1.8% after the company has bagged its maiden export order from Mobius Motors, Kenya. Supplies would be executed from SSWL’S Dappar plant in Punjab.
USDINR trade today trading up eight paise at 67.18 per US dollar.
Out of 1,444 stocks traded on the NSE, 440 declined and 945 advanced today.
Top 5 Nifty Gainers: ONGC (0.94%), CIPLA (0.82%), Asian Paints (0.66%), Sun Pharma (0.58%) and Wipro (0.54%).
Top 5 Nifty Losers: Axis Bank (-1.58%), BHEL (-1.49%), Dr Reddys Lab (-1.20%), TCS (-0.74%) and M&M (-0.71%)
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