After gaining for two consecutive trading sessions, the Indian equity market closed lower on Friday. The key benchmark indices dropped in the morning trade on Friday on profit-booking by participants as the August derivatives series began on a negative note. Today’s decline was led by the telecom, consumer durables, banking, metal and realty stocks. On the other hand, auto, pharma, oil & gas and utilities stocks were among the major gainers. The Bank of Japan’s policy decision, weighed on investor sentiment too. Nifty closed with a loss of 28 points at 8,639, while BSE Sensex ended with a loss of 157 points at 28,052.
On the global front, Asian shares closed in red after the Bank of Japan kept interest rates and government bond buying unchanged after the conclusion of a two-day monetary policy meeting. The Bank of Japan expanded monetary stimulus through increase in purchases of exchange-rated funds. Japan’s Nikkei closed in green, while Hong Kong’s Hang Seng and China’s Shanghai Composite dropped between 0.5%-1.3%.
Eicher Motors rallied 6.6% to Rs.22,465.80 on BSE. The company posted a net profit after taxes and profit of joint ventures of Rs.376 crore for the quarter ended June 30, 2016 as compared to Rs.237 crore for the quarter ended June 30, 2015.
Gujarat State Fertilizers & Chemicals Ltd fell 5% to Rs.70 after the company said its net profit fell 54% in June quarter to Rs.46.30 crore as compared to Rs.100.94 crore a year ago.
Gujarat Alkalies & Chemicals Ltd jumped 13% to Rs.273. The company said its net profit for the June quarter rose 95.1% to Rs.86.26 crore as compared to Rs.44.21 crore a year ago.
Larsen & Toubro Infotech gained 1.6% to Rs.691 after it reported 34.97% rise in net profit at Rs.235.80 crore for the quarter ended June 30, 2016 against Rs.174.70 crore in the corresponding quarter a year ago.
Thirumalai Chemicals Ltd dropped 8% to Rs.333. The company said its net profit stood at Rs.20.24 crore in June quarter, up 6.08% from Rs.19.08 crore a year ago. Net sales fell 17.7% to Rs.217.77 crore.
Karnataka Bank slipped 4% to Rs.146. The bank reported a net profit of Rs.121.54 crore in June quarter, up 11.16% from Rs.109.34 crore a year ago.
Alembic Pharmaceuticals Ltd rose 2.2% to Rs.627. The company reported a net profit of Rs.103.75 crore, up 44.6% from Rs.71.67 crore a year ago. Net sales rose 4.1% to Rs.314.97 crore.
USDINR trade today trading down 2 paise at 67.05 per US dollar.
Out of 1,419 stocks traded on the NSE, 786 declined and 591 advanced today.
Top 5 Nifty Gainers: TCS (3.49%), Bajaj Auto (2.80%), Wipro (2.56%), Maruti Suzuki (2.16%) and Tata Motors (2.09%).
Top 5 Nifty Losers: ICICI Bank (-2.23%), L&T (-1.41%), Lupin Ltd (-0.76%) and Coal India (-0.21%).
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