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%)

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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%)

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The Indian equity market witnessed its biggest one day loss in percentage terms since June 24 on Monday on account of weak global cues, profit booking and a weak rupee further dampened sentiment. The Sensex and Nifty witnessed its biggest one day loss in percentage terms since June 24. The Bank Nifty fell most since April 5, 2016. Nifty closed with a loss of 151 points at 8,716, while BSE Sensex ended with a loss of 444 points at 28,354.

Market sentiment was also influenced by investors treading cautiously ahead of IIP data and CPI inflation due to be released today.

On the economy front, India’s direct tax collections for the current fiscal year (April 1 to August 31) has increased by 15% to reach Rs.1.89 Lakh crore, the Ministry of Finance said.

The Cabinet on Monday approved the process, formation and functioning of the GST Council, which will decide on the rate of tax under the new indirect taxation regime.

On the global front, Asian stocks closed in red. The Shanghai Composite index and Nikkei 225 fell over 1.5% each, while Hong Kong’s Hang Seng index tanked 3.5%.

European stock markets opened lower as investor sentiment has been rattled by concerns that the US Federal Reserve could be considering an imminent interest rate hike. The FTSE 100 was trading down by 1.5%. The CAC 40 and DAX slipped 2% each.

Tata Motors slipped 3.3% to Rs.554. Tata Motors has reported a 16% rise in global sales at 86,288 units, including that of Jaguar Land Rover (JLR) vehicles, in August. The company had sold 74,639 units in August 2015.

IT stocks were the gainers led by depreciation of rupee against dollar. Infosys advanced 1.7%, whereas TCS and Wipro closed marginally up.

Suprajit Engineering gained 1% with the company announcing the successful completion of acquisition of Wescon Controls, Wichita, USA, through its wholly owned subsidiary Suprajit USA Inc, by purchasing 100% outstanding equity share capital from Shell Topco LP managed by a Private Equity Fund – Nova Capital, UK.

Shares of public sector undertaking (PSU) banks closed lower by 4.7% on the National Stock Exchange. The Nifty bank index fell the most in more than 2 months. The PSU bank Nifty opened at 3,204.20 and hit a high of 3,220.90 and a low of 3,156.95. Today, Fitch said they are most at risk of breaching capital triggers due to poor buffers and weak prospects of raising funds for implementation of Basel III. Oriental Bank of Commerce and Bank of India plunged over 6%.

HDIL cracked 10.8% to Rs.90. The company has posted a net profit after taxes, minority interest and share of profit of associates of Rs.40.9 crore for the quarter ended June 30, 2016 where as the same was at Rs.58.4 crore for the quarter ended June 30, 2015.

Mangalam Timber Products Ltd hit 20% upper circuit at Rs.36.35 after the company informed BSE that the commercial production of captive thermal power plant at Company’s Nabarangpur plant has commenced.

Reliance Defence tanked 13.5% on the back of net loss of Rs.134.5 crore for the quarter ended June 30, 2016 as compared to net loss of Rs.167.3 crore for the quarter ended June 30, 2015.

The rupee was trading down 25 paise at 66.93 per US dollar.

Out of 1,482 stocks traded on the NSE, 1,245 declined and 185 advanced today.

Top 5 Nifty Gainers: NTPC (1.73%), Adani Portz and Sez (1.35%), SBI (1.11%), Asian Paints (1.05%) and Cipla (0.99%)

Top 5 Nifty Losers: Coal India (-2.16%), Tata Steel (-1.89%), ONGC (-1.73%), TCS (-1.45%) and Tata Motors (-1.38%)

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.