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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