The rally continued to second consecutive day as indices scaled to fresh 11-month high on Tuesday. Stock market rallied ahead of IIP and inflation data to be released later in the day. 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 metals, realty and banking stocks lifted the benchmarks to end at day’s high. Even the Nifty Mid-Cap index closed at an all-time high. Nifty closed with again of 53 points at 8,521, while BSE Sensex ended with a gain of 181 points at 27,808.

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 2.4%.

Coal India slipped 1.1% to Rs.316.85. The Board of Directors of the Company will be held on July 11, 2016, inter alia, to consider the proposal for Buy Back of equity shares of the Company and appointment of intermediaries in accordance with all applicable laws.

IDFC Bank jumped 8.4% after the bank announced the acquisition of micro-finance company Grama Vidiyal Microfinance.

Opto Circuits (India) Ltd jumped 18.7% to Rs.13.74. The company announced that wholly owned subsidiary, Eurocor Gmbh, launches Coated Shunt Balloon Catheter, used for DIALYSIS patients which reduces re-intervention and preserves future treatment options.

Shriram EPC soared 10.8% to Rs.28.15. The company said it will take approval of its shareholders for conversion of debt worth up to Rs 1,280 crore into equity shares.

NMDC gained 0.52% to Rs.96.75. The company reportedly said that its production was up by about 28% and sales have increased nearly 17% in the April-June quarter of the current fiscal.

Igarashi Motors India dropped 3% to Rs.680. The company said one of its large shareholders will sell over 3.3 million shares amounting to 10.35% in the company in an offer for sale (OFS) at a floor price of Rs.650.

Tata Power slipped 1.5% to Rs.72.75. Tata Power said that its board has approved raising up to Rs.3,500 crore through issuance of non-convertible debentures in one or more tranches on a private placement basis.

USDINR trade today trading down one paise at 67.13 per US dollar.

Out of 1,466 stocks traded on the NSE, 790 declined and 663 advanced today.

Top 5 Nifty Gainers: BHEL (4.05%), ONGC (4.02%), GAIL (2.23%), Tata Steel (2.10%) and Reliance Ind. (1.20%).

Top 5 Nifty Losers: Maruti Suzuki (-1.19%), L&T (-0.77%), Axis Bank (-0.72%), Bharti Airtel (-0.69%) and ITC Ltd (-0.69%)

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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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The Indian equity market ended with marginal losses on Friday amid another lackluster day of trades. Weak global cues and profit booking saw the indices close with minor losses. Once again indices were unable to find a specific direction for second consecutive day. Barring the consumer discretionary, auto and health care index all the other BSE sectoral indices ended with losses. Telecom, oil & gas, capital goods and banking stocks were among the major losers even the small-cap index ended with losses.. Nifty closed with a loss of 15 points at 8,323, while BSE Sensex ended with a loss of 75 points at 27,127.

On the global front, Asian shares closed in red. Japan’s Nikkei and China’s Shanghai Composite dropped 1% each while Hong Kong’s Hang Seng slipped 0.69%.

European shares were trading flat. The FTSE 100 is trading marginally lower. The CAC 40 and DAX gained over 0.7%.

Jubilant FoodWorks and Westlife Development plunged over 2% on reports that Kerala government has imposed 14.5% ‘Fat Tax’ on Junk Food.

8K Miles Software climbed 10.8% to Rs.1970.10. The company announced 167.69% rise in consolidated net profit figures for the latest quarter ended June 30, 2016.

South Indian Bank gained 1.6% to Rs.22.60 on BSE. The Bank posted a net profit of Rs.950.60 million for the quarter ended June 30, 2016 as compared to Rs.652.90 million for the quarter ended June 30, 2015.

Hatsun Agro Product rose 6%after the Board of Directors of the Company to consider and allot Bonus Equity Shares in the ratio of 2 new equity shares of Re. 1/- each credited as fully paid-up for every 5 existing equity shares of Re.1/- each. The stock was higher by 8% at Rs. 497.75.

Dewan Housing Finance Corporation gained 0.78% to Rs.214 after the stock turned ex-dividend today, 8 July 2016, for final dividend of Rs.2 per share for the year ended 31 March 2016.

Telecom stocks closed lower on BSE. The department of telecommunications will soon issue a demand notice of over Rs.12,500 crore to six telecom operators who were found by the Comptroller and Auditor General of India (CAG) to have under-reported revenues to the tune of Rs.46,000 crore between 2006 and 2010, according to media report. Bharti Airtel Ltd falls 2.3%, Idea Cellular Ltd plunged 3%, Reliance Communications slipped 3.2%.

Zee Learn jumped 8.3% to Rs.32.30. The company’s registered 102.52% rise in net profit figures at Rs.8.02 crore against Rs.3.96 crore in the corresponding quarter a year ago, while total income was up 17.5% at Rs.42 crore versus Rs.35.79 crore.

USDINR trade today trading up six paise at 67.32 per US dollar.

Out of 1,511 stocks traded on the NSE, 917 declined and 546 advanced today.

Top 5 Nifty Gainers: Tata Motors (3.50%), ICICI Bank (3.33%), NTPC (2.97%), Adani Ports & Sez (2.54%) and L&T (2.22%).

Top 5 Nifty Losers: There are no losers currently.

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