The Indian stock market ended with smart gains snapping a two day losing streak thanks to stellar show by the banking stocks. The Nifty Bank closed higher by 1.64% hitting 52-week high. Top gainers in Nifty Bank were IndusInd Bank, Kotak Mahindra Bank, BoB, ICICI Bank and Canara Bank. Nifty closed with a gain of 49 points at 8,673, while BSE Sensex ended with a gain of 118 points at 28,123.
On the global front, Japan’s Nikkei and China’s Shanghai Composite ended in red. Hong Kong’s Hang Seng gained 0.97%.
European shares climb for the first time in five days, rebounding from a two-week low. The FTSE 100 trading marginally up. DAX and the CAC 40 were trading higher around 0.16% to 0.49%.
Shares of oil exploration and production companies gain on BSE after global crude oil prices rose. Cairn India soared 2% on BSE. Oil India and ONGC ended above 1% each.
India Cements rose 1.2% to Rs.126 on the BSE. The company posted a net profit of Rs.43.9 crore for the quarter ended June 30, 2016 as compared to Rs.37.8 crore for the quarter ended June 30, 2015.
Adani Ports and Special Economic Zone jumped 3% to Rs.274.40 on BSE. Around 10 lakh shares were traded in a multiple block on the BSE.
Max India jumped 7.5% to Rs.136 on BSE. Around 7 lakh shares were traded in a single block at Rs.130 on the BSE.
Sudarshan Chemical Industries advanced 0.57% to Rs.364 on BSE. Morgan Stanley Mauritius Company bought 4.08 lakh shares of the company at an average price of Rs.356.96 per share in a bulk deal on the NSE yesterday.
Gammon India jumped 8.9% to Rs.15.90.The company has won a Rs.870 crore contract from NHAI for widening of a highway in Karnataka under NHDP.
Power Grid Corporation of India climbed 4.2% to Rs.181.95 on BSE. The power company is looking to participate in intra-state projects, a deviation from its traditional role as the central power transmission utility that has been prompted by the reforms in state-run power distribution companies.
Bharti Airtel climbed 2% to Rs.352. Singtel is in pact with Temasek to acquire 21% of Intouch Holdings Public Co Ltd and 7.4% of Bharti Telecom Ltd for a total consideration of S$2.47 billion.
Alphageo India rallied 7% to Rs.793. The company said its current order book stood at Rs.1,528 crore. The company also said it is exploring offshore opportunities via partnerships.
USDINR trading down four paise at 66.80 per US dollar.
Out of 1,451 stocks traded on the NSE, 436 declined and 951 advanced today.
Top 5 Nifty Gainers: SBI (3.20%), Asian Paints (1.35%), NTPC (1.08%), BHEL (1.03%) and CIPLA (0.81%).
Top 5 Nifty Losers: Coal India (-1.42%), TCS (-1.16%), Bharti Airtel (-1.04%), HDFC (-0.81%) and Dr Reddys Lab (-0.58%)
To qualify NCFM Capital Market Dealers Module certification examination, register with Intelivisto.com and buy Capital Market comprehensive question bank which features mock test, chapter-wise and full length test as per NCFM standards. It also includes performance analysis tools to analyze the performance. For more information call on: +91-9582000102.