The Indian stock market closed lower on Friday with the NSE Nifty closing below the 8550 mark. The benchmarks under-performed the Asian peers, as index heavyweight Infosys posted disappointing results and slashed revenue forecasts. Infosys reported 4.47% fall in consolidated net profit figures at Rs 3,436 crore for the first quarter ended June 30, 2016 against Rs 3597 crore in the sequential quarter ended March 31, 2016. The company reported Rs 3028 crore net profit in the corresponding quarter a year ago. Nifty closed with a loss of 24 points at 8,541, while BSE Sensex ended with a loss of 106 points at 27,836.50.

On the global front, Asian stocks closed on mixed note. The Shanghai Composite index closed marginally lower. Hong Kong’s Hang Seng index and Nikkei 225 gained ended higher.

European markets were trading in red. The FTSE 100 was trading down 0.20%. DAX and the CAC 40 were trading lower 0.47% each.

Infosys dropped 8.8% to Rs.1072 after posting weak numbers in Q1 FY17. The consolidated net profit dropped 4.4% to Rs. 3,436 crore in Q1 FY17 as against Rs.3,597 crore in Q4 FY16. The company posted rupee revenue of Rs.16,780 crore in Q1 FY17 as compared with Rs.16,550 crore qoq while the dollar revenue stood at $2,501 million as against $2,446 million.

TCS dropped 3% to Rs.2442 on BSE. The company registered a net profit of Rs.6,317 crore, up 9.9% yoy but down 0.4% qoq.

Wipro fell 2.8% to Rs.554.5 ahead to Q1 results. The top IT firm will announce its financial results for Q1 FY17 on Tuesday, July 19.

VRL Logistics plunged 5.7% to Rs.313 after huge block deal. Around 4.71 million shares of the company have changed hands in the company in a single block deal.

NIIT Technologies slipped 5.6% to Rs.470.The company posted a net profit of Rs.214.00 million for the quarter ended June 30,2016 as compared to Rs.718.70 mn for the quarter ended June 30, 2015.

LIC Housing Finance jumped 3.5% to Rs.525 on BSE. The company posted a net profit of Rs.407.8 crore for the quarter ended June 30, 2016 as compared to Rs.382.1 crore for the quarter ended June 30, 2015.

Nava Bharat Ventures climbed 4% to Rs.242 after the company said its board will meet on 22 July to consider bonus shares.

DCB Bank slipped 4.3% to Rs.100.40. The bank posted net profit of Rs.47.01 crore for the first quarter ended June, which was marginally up from Rs.46.87 crore posted in the corresponding quarter of FY16.

Tata Motors gained 1.5% to Rs.492.90. The company’s subsidiary Jaguar Land Rover (JLR) is all set to start testing connected, autonomous and self-driving cars on UK roads, with a fleet of 100 to be produced over the next four years.

USDINR trade today trading down 17 paise at 67.08 per US dollar.

Out of 1,426 stocks traded on the NSE, 948 declined and 433 advanced today.

Top 5 Nifty Gainers: Tata Steel (3.80%), Bharti Airtel (3.32%), HDFC Bank (1.95%), HDFC (1.80%) and Tata Motors (1.48%).

Top 5 Nifty Losers: Infosys Ltd (-8.81%), TCS (-3.11%), Wipro (-2.81%), Coal India (-1.48%) and NTPC (-1.20%)

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The Indian stock market ended with smart gains on Thursday tracking firm cues across the Asian and the European markets. Nifty reclaimed 8,550 for the first time since August 11, 2015 as sentiment were upbeat ahead of the Monsoon Session of Parliament, the Narendra Modi government on Thursday reached out to the principal opposition party Congress over the contentious issue of Goods and Service Tax Bill. Nifty closed with a gain 46 points at 8,565, while BSE Sensex ended with a gain of 127 points at 27,942.

On the global front, Asian markets closed on a mixed note. Hong Kong’s Hang Seng index gained 1.1%. Japan’s Nikkei closed nearly 1% higher at 16,385.89 as the yen weakened against the dollar. The Shanghai Composite index ended marginally lower.

Max India which listed today, ended 5% higher at Rs.185 on the BSE.

Jewelery companies closed higher after news report said that the government increased Small Scale Industry (SSI) exemption limit to Rs.10 crore from Rs.6 crore, waived off the levy on sale of traded goods and relaxed various procedural norms.Gitanjali Gems gained 1% to Rs.41.20.

Rajesh Exports soared 2.9% after the company has bagged an export order worth Rs.786 crores of designer range of gold and diamond studded jewelery and medallions from UAE. The order is to be completed by 151h October 2016.

Reliance Industrial Infrastructure Ltd dropped 1.2% to Rs.436. The company reported a net profit of Rs.3.02 crore in June quarter, down 32% from Rs.4.45 crore a year ago.

Hexaware Technologies rose 1.8% to Rs.227.35 at the closing bell on Thursday. News reports stated that the Baring Private Equity Asia is in exclusive talks with Hong Kong-based PCCW to sell a majority stake in Hexaware Technologies. The talks are currently understood to be focused around valuations with Baring seeking a minimum 15% premium over the IT player’s current market price.

India bulls group companies dropped for the second day after its said that the income-tax department has conducted multiple searches on the premises of India bulls group in connection with its probe against the firm on charges of alleged tax evasion.

Titagarh Wagons climbed 3.3% to Rs.95.95.The company said that the certified copy of the Order of High Court of Calcutta sanctioning the Scheme of Amalgamation of the Company’s Wholly Owned Subsidiaries viz. Cimco Equity Holdings Private Limited, Titagarh Marine Limited, Times Marine Enterprises Private Limited and Corporated Shipyard Private Limited with the Company has been duly filed and followed by hard copies thereof submitted to Registrar of Companies (West Bengal) on July 13, 2016.

SPML Infra jumped 5.6% after the company received three major new orders for design and construction of Sewerage System with provision of treated wastewater reuse from Rajasthan Urban Drinking Water Sewerage and Infrastructure Corporation Limited (RUDSICO) for 11 cities in Rajasthan for a total value of INR 1275 crores.

USDINR trade today trading up 18 paise at 66.87 per US dollar.

Out of 1,437 stocks traded on the NSE, 523 declined and 866 advanced today.

Top 5 Nifty Gainers: Adani Ports & Sez (2.79%), M&M (1.81%), Hind. Unilever (1.63%), Tata Motors (1.55%) and Tata Steel (1.35%).

Top 5 Nifty Losers: Infosys Ltd (-5.62%), NTPC (-1.86%), TCS (-1.66%), BHEL (-0.97%) and GAIL (-0.96%)

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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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