The Indian stock market carried on with its northward journey and rallied for the third straight session tracking a positive trend seen in Asian markets after weak US data reduced the already low chance of an interest rate hike by the Federal Reserve at next week’s meeting. The domestic market came off their intra-day highs as investors booked profits at higher levels amid weak European cues. The Nifty50 gave up its gains of the day slipping below the 8,800 mark. Nifty closed with a gain of 37 points at 8,780, while BSE Sensex ended with a gain of 186 points at 28,599.

On the global front, Asian stocks closed on a mixed note. The Nikkei 225 ended higher by 0.69%. Markets in China, Hong Kong, Taiwan, South Korea and Malaysia were closed for the Mid-Autumn festival.

European stocks were trading lower on Friday. The FTSE 100 was trading marginally lower. DAX and the CAC 40 were trading down by 0.5% each.

Polyplex Corporation soared 2.8% after the company completed acquisition of its entire equity stake in its step down subsidiary Peninsula Beverages and Foods.

Suzlon Energy advanced 1%. Suzlon Group, one of the leading renewable energy solutions providers in the world, today announced its maiden order win from Oil India Ltd (OIL) for 52.50 MW project capacity.

United Breweries inched up 1% to Rs.828 on the BSE. Around 18.5 lakh shares were traded in a single block at Rs. 822 on the BSE.

Punjab National Bank slipped 0.61% on the BSE. The bank has informed BSE that consequent to receipt of capital funds to the tune of Rs.2112 crore from the Government of India on September 14, 2016, the Bank has issued and allotted 16,43,70,768 equity shares of face value of Rs.2 each at a premium of Rs.126.49 i.e. at a price of Rs.128.49 per equity share on a preferential basis.

Hero MotoCorp climbed 2%. Hero FinCorp has raised Rs 1,000 crore from ChrysCapital, Credit Suisse, and the group promoters to expand finance to retail and corporate customers.

ONGC Ltd gained 1.4%. ONGC signed agreements with Russia’s national oil company Rosneft PJSC to acquire an additional 11% stake in its unit, JSC Vankorneft, which has a licence to produce hydrocarbons from the Vankor field in Siberia.

Den Networks zoomed 7.8%. The company informed BSE that a meeting of the Board of Directors of the Company will be held on September 20, 2016, inter alias, to discuss and approve the proposal for Preferential Issue of Equity Shares.

Reliance Defence and Engineering Ltd surged over 2% after media reports said that the company can participate in Rs.3 Lakh crore worth Indian Navy projects after the Defence Acquisition Council cleared its capacity assessment.

The rupee was trading  up four paise at 66.98 per US dollar.

Out of 1,356 stocks traded on the NSE, 714 declined and 596 advanced today.

Top 5 Nifty Gainers: Maruti Suzuki (2.25%), Axis Bank (2.11%), ITC Ltd (2.08%), Hero Motocorp (2.06%) and Adani Portz and Sez (1.98%)

Top 5 Nifty Losers: BHEL (-2.40%), Tata Steel (-2.14%), Tata Motors (-1.50%), Asian Paints (-1.23%) and ICICI Bank (-1.15%)

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.

The Indian equity market spent the entire day in a narrow range after the recent slide and Nifty ended marginally higher for the second consecutive session after a dull session on Thursday. The domestic market closed higher for the second consecutive session. However, as the day progressed, a sudden bout of buying in the FMCG, pharma, energy and telecom stocks lifted the benchmarks. On the other hand, consumer durables, utilities, power, banking, auto and oil & gas stocks were under pressure. Nifty closed with a gain of 16 points at 8,743, while BSE Sensex ended with a gain of 41 points at 28,413.

On the global front, Asian stocks closed on a mixed note. Markets in China, Taiwan and South Korea were closed for public holidays on Thursday.

European stocks were mixed ahead of monetary policy decision from the Bank of England. The FTSE 100 and DAX were marginally up, while CAC 40 was trading in red.

Reliance Communications Ltd dropped 2.4% to Rs.49.80. RComm has signed an agreement to merge its wireless business with smaller rival Aircel Ltd. The new entity will combine R-Com’s wireless business and Aircel’s operations in India.

Sun Pharmaceutical Industries Ltd advanced 1%. The pharma company said its buyback offer of 75 Lakh equity shares will open on 22 September. The issue will close on 5 October.

Yes Bank slipped 2.5% after the media report, the Securities & Exchange Board of India is looking into the lender’s notices to stock exchanges about the planned equity placement (QIP).

Ashok Leyland tumbled 3.6% to Rs.81.55. The Board of automobile components firm Hinduja Foundries Ltd has given its nod for amalgamating the company with Ashok Leyland subject to regulatory and shareholders approval of both the companies.

BEML dropped 12.3% to Rs.900. BEML Ltd’s standalone net loss widened to Rs.107.10 crore for the quarter ended June 30, 2016. The company had posted a net loss from ordinary activities after tax of Rs.68.10 crore in the year-ago period, the company said in a BSE filing.

NBCC gained 1.6% to Rs.253. NBCC (India) Ltd reported 16% increase in consolidated net profit to Rs.47.09 crore for the quarter ended June 30.

Maruti Suzuki India Limited gained 1.5% after the auto company announced to partner Uber India through a Memorandum of Understanding (MoU). Under the MoU, the Company will train over 30,000 individuals/Uber partner-drivers in safe driving over a period of 3 years.

Gujarat NRE Coke Ltd dropped 2.8% on the BSE. The company’s standalone net loss widened to Rs.108.80 crore for the quarter ended June 30, 2016 as against a net loss of Rs.60.66 crore in the year-ago period.

IVRCL zoomed 2% to Rs.5.52. IVRCL has posted a loss of Rs.151.85 crore for the first quarter ended June 30, 2016, as against a loss of Rs.189.65 crore for the corresponding quarter last year on a standalone basis.

MMTC soared 3.6% to Rs.47.05. MMTC reported a net loss of Rs.7.01 crore for the first quarter ended June 30, 2016. The company had incurred a net loss of Rs.30.55 crore during the corresponding quarter of 2015-16.

The rupee was trading down five paise at 66.94 per US dollar.

Out of 1,458 stocks traded on the NSE, 662 declined and 730 advanced today.

Top 5 Nifty Gainers: Hero Motocorp (3.13%), Bajaj Auto (2.78%), Maruti Suzuki (2.60%), Adani Portz and Sez (2.58%) and Axis Bank (2.42%)

Top 5 Nifty Losers: HDFC (-0.10%), Lupin Ltd (-0.08%) and TCS (-0.03%)

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.

The Indian equity market fluctuated between gains and losses and closed higher on Wednesday. The domestic market snapped a two-day losing streak. Basic Materials, consumer durables, utilities, banking, power, industrial and telecom stocks led from the front, while IT, energy and teck stocks were among the major loser. Nifty closed with a gain of 11 points at 8,727, while BSE Sensex ended with a gain of 19 points at 28,372.

On the global front, Asian markets closed in red. Japan’s Nikkei and Hong Kong’s Hang Seng ended lower, while China’s Shanghai Composite slipped 0.7%.

In Europe, the FTSE 100 was trading marginally higher. The CAC 40 and DAX gained 0.6% each.

Coal India slipped 2% to Rs.324. Coal India recorded a 14% in net profit during the first quarter of the current fiscal on the back of a near 6% fall in income from operations.

Suzlon Energy dropped 7% after the company posted a net loss after taxes, Minority Interest and Share of Profit/(Loss) of Associates of Rs.260 crore for the quarter ended June 30, 2016 as compared to Net Profit of Rs. 1014.3 crore for the quarter ended June 30, 2015.

Future Enterprises soared 4.9%. Future Enterprises reported a standalone net profit of Rs.315.48 crore for the first quarter ended June 2016.

Sun Pharma slipped 1% at Rs.780. The pharma company share buyback offer is set to open on Sept 22 and close on Oct 5. Sun Pharma will buy back up to 7.5 million shares at Rs.900/share.

HCC rallied 8% to Rs.41.10. The company bagged an order worth Rs.181.65 crore from the Department of Atomic Energy to build high rise residential towers at Indira Gandhi Centre for Atomic Research at Kalpakkam in Tamil Nadu.

Gitanjali Gems hit 20% upper circuit at Rs.57.40 on the BSE. The company said its net profit rose 64.6% in June quarter to Rs.22.24 crore against Rs.13.51 crore a year ago. Total income rose 5.36% to Rs.1,727.67 crore.

Sunil Hitech Engineers climbed 5% after the company was awarded order worth Rs.415 crores in the State of Bihar from Bihar State Housing Board under Government of Bihar for Construction of 1054 Flats on 16.50 Acres of Land at Dalpatpur, Dist. Ara in the State of Bihar including complete infrastructure development.

Ajanta Pharma gained 1% after the company announced the receipt of final approval for Aripiprazole Tablets (2mg, 5mg, 10mg, 15mg, 20mg, 30mg), the bioequivalent generic to Abilify from the USFDA.

Lambodhara Textiles jumped 3.5% after the company informed the Exchange that the Company is entering into an lease agreement with Suriya Spinning Mills Unit B and Sri Akkamma Textiles to utilize their sapre capacity of 3,024 spindles and 6,048 spindles respectively for conversion of fiber into yarn.

The rupee was trading up 2 paise at 66.90 per US dollar.

Out of 1,474 stocks traded on the NSE, 439 declined and 982 advanced today.

Top 5 Nifty Gainers: Cipla (2.03%), BHEL (1.81%), ITC Ltd (1.35%), Sun Pharma (1.20%) and Adani Portz and Sez (0.68%)

Top 5 Nifty Losers: Axis Bank (-2.04%), Hero Motocorp (-1.96%), Tata Steel (-1.36%), L&T (-0.86%) and SBI (-0.83%)

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.