The Indian equity market ended with losses for second consecutive trading session on Monday. Weak global cues, profit booking and a weak rupee dampened the sentiment. Urjit Patel’s appointment as the new RBI Governor too failed to bring any cheer on the street. The new governor will take charge for a 3 year term from 4 September 2016. Market participants were also jittery as they await the speech by Fed chair Janet Yellen at an annual summer gathering in Jackson Hole, for indications of how policymakers view the interest rates outlook. Nifty closed with a loss of 38 points at 8,629, while BSE Sensex ended with a loss of 91 points at 27,985.

On the global front, Asian stocks closed lower on Monday. Nikkei index edged higher after BOJ Governor Haruhiko Kuroda said there is “sufficient chance” the central bank will add to its easing at next month’s policy meeting. China’s Shanghai Composite ended marginally lower, while Hong Kong’s Hang Seng gained 0.26%.

European markets were mixed. The FTSE 100 was trading marginally down. The CAC 40 and DAX inched up 0.27% each.

Welspun India hit 20% lower circuit at Rs.82.30 after Target Corp said it was severing ties with the company over a cotton supply dispute. Target Corp said that after an extensive investigation it had confirmed that Welspun, which uses Egyptian cotton to make bedsheets and pillowcases sold by the retailer, substituted another type, of non-Egyptian cotton, to make these sheets between August 2014 and July 2016.

Sun TV Network fell 4.8% to Rs.458.85 on the BSE. The company posted a net profit of Rs.233 crore for the quarter ended June 30, 2016 as compared to Rs.195.8 crore for the quarter ended June 30, 2015.

Indraprastha Gas jumped 4.3% to Rs.729.15 on the BSE. The company posted a net profit after tax of Rs.148 crore for the quarter ended June 30, 2016 as compared to Rs.102.5 crore for the quarter ended June 30, 2015.

Fortis Malar Hospitals hit 20% upper circuit at Rs.68.50 on the BSE. Fortis Healthcare said its board has approved demerger of its diagnostics business into another group firm Fortis Malar Hospitals, a move aimed at ensuring independent growth of hospital as well as diagnostics business verticals.

Oberoi Realty climbed 5.2% to Rs.313.50 on the BSE. The company posted net profit after taxes, minority interest and share of profit of associates of Rs.108.9 crore for the quarter ended June 30, 2016 as compared to Rs.81.9 crore for the quarter ended June 30, 2015.

Aviation stocks closed higher on BSE. Domestic air passenger traffic jumped by nearly 26% in July, registering double-digit growth for the 24th consecutive month with lower fares attracting more fliers, as per media reports. Jet Airways and Spice Jet closed above 1% each. IndiGo gains 2.2% on BSE.

USDINR trading down 14 paise at 67.20 per US dollar.

Out of 1,455 stocks traded on the NSE, 795 declined and 588 advanced today.

Top 5 Nifty Gainers: Infosys Ltd (1.74%), TCS (1.73%), GAIL (1.61%), WIPRO (0.57%) and Asian Paints (0.51%).

Top 5 Nifty Losers: BHEL (-3.00%), SBI (-1.31%), Bajaj Auto (-1.24%), ICICI Bank (-1.09%) and ITC Ltd. (-1.08%)

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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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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%)

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