The Sensex and Nifty closed lower on Thursday, pausing after a three-day rally. Sentiment was hit after GDP data released late on Wednesday showed India’s economy grew at a much lower-than-expected 7.1% in the April-June quarter, its slowest pace in 15 months. Similarly, the Core Sector growth slowed to 3.2% in July, compared to 5.2% recorded in June. Nifty closed with a loss of 12 points at 8,775, while BSE Sensex ended with a loss of 29 points at 28,423.

Meanwhile, manufacturing output in India grew at its fastest pace in thirteen months in August. The seasonally adjusted Nikkei India Manufacturing Purchasing Managers Indexedged higher in August, at 52.6 compared with 51.8 in July.

China’s official manufacturing purchasing managers’ index, a gauge of factory activity, rose to 50.4 in August, returning to expansionary territory, official data showed today.  China’s Shanghai Composite closed in red. Japan’s Nikkei and Hong Kong’s Hang Seng ended in green.

European stocks edged higher on rebound in crude oil prices after registering sharp losses during the previous trading session. The FTSE 100 was trading up. DAX and the CAC 40 were trading flat around 0.5% each.

Meanwhile, wireless services providers cracked after Reliance Industries announced the launch of Reliance Jio with disruptive pricing strategy in addition to voice calls and national roaming free of cost. The BSE Telecom is closed down 5.7% or 69.52 points at 1,156.58 as against the previous close of 1,226.10.

Banking shares continued at their upward movement with the Nifty Bank and S&P BSE Bankex hitting their fresh 52-week highs on Thursday. Kotak Mahindra Bank and Yes Bank hit a record high while Federal Bank touched a fresh 52-week high.

Mahindra & Mahindra gained 1% to Rs.1452. Domestic sales in August 2016 were at 12,327 units, as against 10,751 units during August 2015.

HCC hits 20% upper circuit after the company announced that the Cabinet decision that needs government agencies to pay 75% of arbitral awards will result in HCC’s debt being reduced by half.

Indo Rama Synthetics dropped 14.6% after the company reported a standalone net loss of Rs.16.56 crore for the first quarter ended June 30.

The rupee was trading down three paise at 66.98 per US dollar.

Out of 1,522 stocks traded on the NSE, 993 declined and 479 advanced today.

Top 5 Nifty Gainers: Adani Ports & Sez (3.07%), Maruti Suzuki (2.14%), Tata Motors (1.86%), HDFC (1.13%) and Asian Paints (1.00%).

Top 5 Nifty Losers: Coal India (-1.86%), Reliance Ind. (-1.86%), Bajaj Auto (-1.62%), Infosys Ltd. (-0.59%) and CIPLA (-0.54%)

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The Indian equity market extended winning streak to third consecutive session ahead of the release of GDP and fiscal deficit data scheduled to be released later today. The benchmark indices have now gained six months in a row, registering its longest run of monthly advances since November 2014. During the session, Nifty touched 8,819-mark, its highest level since April 13, 2015. Nifty closed with a  gain of 42 points at 8,786, while BSE Sensex ended with a gain of 109 points at 28,452.

On the global front, Asian stocks closed on mixed note. The Nikkei 225 and Hong Kong’s Hang Seng index closed lower. Shanghai Composite index closed in green.

European stocks were mixed today as global markets gear up for Friday’s US jobs report. The FTSE 100 and the CAC 40 were trading lower by 0.25% each. DAX was trading up 0.48 %.

Delta Corp tumbled 4.9% to Rs.154.50 on the BSE. Delta Corp Limited is going to acquire Gauss Network, which owns adda52.com, the company said in BSE filing.

Infrastructure stocks closed higher on BSE and NSE after the government approved new norms for the construction sector that will help in quicker resolution of disputes to kick-start stalled projects and make access to financing easier. Hindustan Construction Company Ltd hit 20% upper circuit at Rs.27.50. Simplex Projects Ltd rallied 10.4% to Rs.29 on the BSE.

RBL Bank Ltd ended at Rs. 299.3, up by Rs. 74.3 or 33.02% from its previous closing of Rs. 225 on the BSE. RBL Bank listed at Rs.273.70 on BSE, a 21.64% premium to its issue price of Rs.225.

Kotak Mahindra Bank jumped 2.8% to Rs.807. The bank said the Reserve Bank had granted approval to Canada Pension Plan Investment Board to buy stake in excess of 5% and up to 5% in the bank.

UltraTech Cement soared 3.6%. The Reserve Bank of India notified that Foreign Institutional Investors/Registered Foreign Portfolios Investors can now invest up to 30% of the paid up capital of Ultra Tech Cement Limited under the Portfolio Investment Scheme (PIS).

Tata Motors jumped 2% to Rs.537. The company plans to reduce the number of platforms used in manufacturing passenger vehicles and increase platform sharing to drive down costs, as per media reports.

Hindustan Copper inched up 0.54% to Rs.66. The company executed a Joint Venture Agreement with Chhattisgarh Mineral Development Corporation Ltd, for exploration, mining and beneficiation of copper and its associated minerals in the state of Chhattisgarh.

Cox & Kings slipped 3% to Rs.187.40 on the BSE. The tour and travel company posted 24% dip in consolidated net profit to Rs.108.07 crore for the first quarter ended June 30, 2016-17 as compared to Rs.141.60 crore for the corresponding period of the previous fiscal.

Zee Entertainment gained 2% to Rs.540 after it announced the sale of its sports business for $385 million (or Rs 2,583 crore) cash to Sony Pictures.

The rupee was trading up three paise at 66.99 per US dollar.

Out of 1,478 stocks traded on the NSE, 772 declined and 648 advanced today.

Top 5 Nifty Gainers: GAIL (2.03%), M&M (1.15%), ICICI Bank (1.14%), Tata Motors (1.03%) and HDFC (0.79%).

Top 5 Nifty Losers: Wipro (-1.24%), Adani Ports & Sez (-1.10%), Asian Paints (-0.97%), HDFC Bank (-0.46%) and L&T (-0.45%)

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The Sensex provisionally settled above the psychological 28,000 mark after reclaiming that level in the opening trade. The Sensex hit its highest level in more than thirteen months in late trade. The Nifty hit its highest level in more than sixteen months in late trade. Nifty closed with a  gain of 137 points at 8,744, while BSE Sensex ended with a gain of 440 points at 28,343.

On the global front, Asian stocks closed on a mixed note. The Shanghai Composite index and Hong Kong’s Hang Seng index closed higher. Nikkei 225 closed in red.

In Europe, the FTSE 100 was trading up 0.31%. DAX and the CAC 40 were trading lower by 1% each.

Bharti Airtel dropped 3% after announcing up to 80% reduction in its 3G and 4G mobile data packs.

Maruti Suzuki India ended higher by 2.8% at Rs.5069 on the BSE. Maruti Suzuki India Limited, India’s leading passenger vehicle manufacturer, today launched the sporty, Swift Deca, a limited edition model of its most popular hatchback. A wide array of features including touch screen multimedia system with Bluetooth, exterior styling kit, sporty body graphics, football themed seat covers and interior styling kit make the Swift Deca even more attractive.

Ramky Infrastructure soared 4.5% to Rs.78.20 after winning NHAI contracts worth Rs.1,646 crore for developing two highway projects in Jharkhand.

Mandhana Industries shares locked up in upper circuit for seventh straight day, after rising by their maximum daily limit of 5%. Strong buying has been witnessed in Mandhana Industries since the textile company last week disclosed that it has finalised an agreement with actor Salman Khan’s ‘Being Human’ Foundation to sell products under the ‘Being Human’ brand.

eClerx Services erased all its early gains and closed lower on Tuesday as weak Q1 earnings and softer revenue and margin guidance weighed on its shares. eClerx shares had jumped as much as 10 per cent in the morning trade on share buyback approval.

Gujarat Mineral Development Corporation Ltd climbed 8.3% to Rs.98.15. The company reported a 56% growth in profit for the first quarter of financial year 2016-17.

The rupee was trading up 11 paise at 67.06 per US dollar.

Out of 1,534 stocks traded on the NSE, 520 declined and 925 advanced today.

Top 5 Nifty Gainers: Tata Motors (2.31%), Hero Motocorp (1.83%), Asian Paints (1.09%), CIPLA (0.86%) and ICICI Bank (0.62%).

Top 5 Nifty Losers: NTPC (-1.08%), TCS (-0.76%), ONGC (-0.66%), BHEL (-0.60%) and Infosys Ltd. (-0.49%)

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