After Thursday’s smart run up, indices took a breather today amid lackluster day of trades. Weak global cues, profit booking and weak rupee dampened the sentiments. On the other hand, Nifty Bank index continued to out-perform. Today’s decline was led by the realty, telecom, IT and pharma stocks, while metal, consumer durables, oil & gas, banking and industrial stocks were among the gainer.. Nifty closed with a loss of mere six points at 8,667, while BSE Sensex ended with a loss of 46 points at 27,127.
On the global front, Japan’s Nikkei and China’s Shanghai Composite ended marginally higher, while Hong Kong’s Hang Seng slipped 0.37%.
European shares were trading in red. The FTSE 100 is trading marginally down. The CAC 40 and DAX dropped over 0.77% each.
SBI jumped 4.2% to Rs.258.50 on BSE. The board of State Bank of India Ltd cleared the proposed merger of five associate banks and Bharatiya Mahila Bank with itself.
Shipping Corporation of India dropped 5% after the company’s net profit slipped 72.56% to Rs.55.91 crore for the quarter ended on June 30, 2016, compared to the same period last year. The company had posted a net profit of Rs.203.78 crore for the quarter ended June 30, 2015.
V-Guard Industries gained 1% to Rs.1,763 after the company announced that it has fixed 31 August 2016 as the record date for 10 for 1 stock split.
Coal India dropped 1.4% to Rs.334. As per media reports, Government of India’s impending stake-sale in the company. GoI currently holds 79.65% in Coal India as on 30 June 2016.
Ultra Tech Cement gained 1.1% to Rs.3915 on the BSE. The cement company is planning to raise Rs.500 crore through issuance of secured redeemable non-convertible debentures (NCDs) on private placement basis.
Bharti Airtel slipped 0.44% to Rs.350. Singapore Telecommunications said that it has signed a conditional share purchase agreement with Temasek Holdings to acquire 7.39% stake in Bharti Telecom Ltd, holding company of India’s largest telco Bharti Airtel Ltd, and 21% in Thailand’s Intouch Holdings public Co. Ltd for a total of $1.8 billion.
India Cements soared 5.2% to Rs.132. The company reported 16% jump in its net profit at Rs.44 crore for the April-June quarter. India Cements had reported a net profit of Rs.38 crore on sales of Rs.1,221 crore in the corresponding quarter of last fiscal.
USDINR trading down 22 paise at 67.02 per US dollar.
Out of 1,860 stocks traded on the NSE, 701 declined and 899 advanced today.
Top 5 Nifty Gainers: Hindustan Unilever (1.97%), ITC Ltd. (1.00%), CIPLA (0.98%), BHEL (0.78%) and Adani Ports & Sez (0.49%).
Top 5 Nifty Losers: Lupin Ltd (-1.59%), Sun Pharma (-1.29%), Tata Steel (-1.24%), ICICI Bank (-1.20%) and Hero Motocorp (-1.11%)
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