The Indian equity market erased early losses to end higher on Thursday after European stocks edged higher. The Sensex ended above 29,000 for the first time since April 13, 2015 while the Nifty Midcap index ended at record closing high. Nifty closed with a gain of 35 points at 8,953, while BSE Sensex ended with a gain of 119 points at 29,045.
On the global front, Asian stocks closed on mixed note. The Nikkei 225 ended marginally lower. Shanghai Composite and Hong Kong’s Hang Seng index index closed in green.
European stocks trading mixed ahead of the European Central Bank monetary policy decision later in the global day. The FTSE 100 iched up 0.55%. DAX and the CAC 40 were trading marginally down.
IRB Infrastructure soared 9% after an investment trust backed by the construction company, IRB InvIT Fund, filed a draft offer document with Sebi for an initial public offer (IPO).
TCS tanked 5.1% to Rs.2,321. The IT Company said it will update investors on business trends in Q2 FY17. It is seeing sequential loss of momentum in BFSI vertical and holding back of discretionary spending seen in BFSI vertical in the US, as per media reports.
GAIL India slipped 1.9% to Rs.388.90. The company reported its net profit in April-June 2016 at Rs.1,335 crore compared with Rs.388 crore in the same period a year ago.
Aptech hit 10% upper circuit at Rs.175.05. According to the bulk deal data on the NSE showed that Rajesh Kumar Jhunjhunwala and Rekha Rakesh Jhunjhunwala purchased over 2.5 lakh and 5 lakh shares respectively. The company made a foray into the preschool education sector through a strategic alliance with the city-based Montana International Preschool.
Max Financial Services soared 3.6%. Max Financial Services said it has filed a joint application seeking CCIs approval for amalgamation of Max Life Insurance Company and Max Financial Services into HDFC Standard Life Insurance Company.
Alstom T&D tanked 3.6% to Rs.322. Alstom T&D reported a net loss of Rs.197 crore for the quarter ended June 30 compared with Rs.10.1 crore net profit reported in the year-ago period.
Technofab Engineering galloped 19.3% to Rs.224. Technofab Engineering has received two new orders from Power Grid Corporation of India amounting to Rs.227 crore. The orders have a timeline of 32 months for completion.
The rupee was trading down four paise at 66.41 per US dollar.
Out of 1,413 stocks traded on the NSE, 515 declined and 840 advanced today.
Top 5 Nifty Gainers: ONGC (1.46%), TCS (1.03%), Wipro (0.98%), GAIL (0.98%) and Dr. Reddys Lab (0.56%).
Top 5 Nifty Losers: Hero Motocorp (-2.28%), HDFC (-2.05%), ICICI Bank (-1.76%), Bajaj Auto (-1.71%) and Axis Bank (-1.61%)
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