The Indian equity market ended in the red as indices extended losing streak to second consecutive trading session on Wednesday. Today’s major decline was led by the IT, teck, FMCG and power, stocks, while metal, basic materials, auto, pharma and banking were among the gainer. Nifty closed with a loss of 19 points at 8,624, while BSE Sensex ended with a loss of 59 points at 28,005.
On the global front, Japan’s Nikkei advanced 0.89%. Hong Kong’s Hang Seng ended in red.
European stocks edged lower ahead of the closely-watched release of the US Federal Reserve’s latest minutes. The FTSE 100 was trading down, DAX and the CAC 40 were trading lower around 0.5% each.
Reliance Communications jumped 3.3% to Rs.49.55 after the company announced the introduction of Next-Gen APP-TO-APP CALLING in the country and worldwide, launching the ‘Calling Ka Naya Tareeka’ offer for existing and new customers.
Radico Khaitan jumped 9% to Rs.101.40 on the BSE. The company recorded a rise of 25% in its net profit at Rs.21.53 crore for the quarter ended June 30, 2016 as compared to Rs.17.19 crore for the quarter ended June 30, 2015.
Zee Learn soared 11.2% to Rs.33.60 after it revised its share swap ratio for the proposed merger with Tree House at 1:1.Earlier, the companies had agreed to swap 53 shares of Zee Learn for 10 Tree House for the merger plan.
Hero MotoCorp rallied 2% to Rs.3,360 on BSE. The company said in a notice to BSE that Sunil Kant Munjal’s tenure as Joint Managing Director of the Company ends on 16 August 2016. He has also resigned from the Board of Directors of the company with effect from the same date.
Strides Shasun fell 4.7%. The company’s June quarter net profit was at Rs.41.7 crore. It clocked sales of Rs.869 crore for the period in focus, up 43% YoY.
Hathway Cable & Datacom rose 2.3% after it approved the initial public offering (IPO) of its unit GTPL Hathway Private (GTPL).
Piramal Enterprises soared 3.6% after the company announced that it has entered into an agreement to acquire a US-based CDMO.
Suzlon Energy rose 2% to Rs.16.80 after the company issued repeat order from ReNew Power Ventures, India’s leading renewable energy Independent Power Producer. The order comprises 48 units of S97 120m Hybrid Tower and 15 units of S97 90m tubular tower with a rated capacity of 2.1 MW each.
Just Dial Ltd dropped 3.5%. The company posted a net profit of Rs.38.9 crore for the quarter ended June 30, 2016 as compared to Rs.36.1 crore for the quarter ended June 30, 2015.
KNR Constructions jumped 9% to Rs.699. The company reported its net profit jumped 86.6% to Rs.30.21 crore in the quarter ended June 2016 as against Rs.16.19 crore during the previous quarter ended June 2015.
Infosys slipped 1.7% to Rs.1,033. The Royal Bank of Scotland announced last week that it will no longer pursue its plan to separate and list a new UK standalone bank, Williams & Glyn (W&G), and instead will pursue other options for the divestment of this business.
InterGlobe Aviation climbed 3.5% to Rs.857.80 after Citi upgraded the stock to “buy” from “neutral”, adding that A320 delivery concerns were unwarranted, as per media report.
USDINR trade today at 66.78 per US dollar.
Out of 1,460 stocks traded on the NSE, 611 declined and 791 advanced today.
Top 5 Nifty Gainers: Adani Ports & Sez (3.02%), Bharti Airtel (1.69%), ICICI Bank (1.58%), NTPC (1.49%) and Tata Motors (1.13%).
Top 5 Nifty Losers: Coal India (-1.68%), L&T (-0.73%), Asian Paints (-0.63%), Wipro (-0.60) and Hind Unilever (-0.59%)
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