The Indian equity market ended almost unchanged on 3 June 2016 erasing all its early gains. After opening with a positive bias, indices failed to carry forward the momentum. Selling pressure in the telecom, capital goods and realty stocks saw the benchmarks close almost near day’s low. The health care, consumer durables and industrials stocks too ended lower. Even the mid cap and small cap stocks ended with marginal losses. On the other hand, banking, auto and energy stocks ended with gains. Nifty closed with a gain of mere two points at 8,221, while BSE Sensex ended almost flat at 26,843.
On the global front, Asian stock market closed higher ahead of US payroll data. The Caixin China services purchasing managers index eased to a three-month low of 51.2 in May from 51.8 in April. The Shanghai Composite closed up 0.4%. Hong Kong’s Hang Seng index and Japan’s Nikkei 225 ended higher by 0.44% each.
In Europe, the FTSE 100 was trading higher by 0.90%. DAX and the CAC 40 are trading marginally higher by 0.3% respectively.
Axis Bank climbed 3.5% to Rs.542.80 on BSE. The stock was the top Nifty 50 gainer. The bank has allotted senior fixed rate green bonds aggregating to $500 million under the medium term note (MTN) programme through its Dubai International Financial Centre (DIFC) branch. The notes will be listed at the Singapore Stock Exchange and London Stock Exchange. The notes have been priced at 160 basis points over the 5-year US Treasury Note, at a price of 99.479% to yield 2.988%. The notes will be denominated in US dollars, and will bear fixed interest of 2.875% per annum, with interest payable semi-annually in arrears.
Natco Pharma jumped 8.5% to Rs. 518.35. The company announced that its marketing partner, Mylan Inc., has received a tentative approval for its Abbreviated New Drug Application (ANDA) for Sorafenib Tablets, 200mg, with the U.S. Food and Drug Administration (USFDA).
Idea Cellular cracked 10% to Rs.107 after block deal. More than 3% of total equity worth of around Rs.1,400 crore of the company changed hands via multiple block deals. Providence Equity Partners is planning to sell almost half of its stake in telecom operator Idea Cellular Ltd in a block trade for about $209 million (about Rs.1,400 crore), says report.
MOIL surged 5.3% to Rs.233.25 after the company announced that the board will meet on June 7, to consider buyback of equity shares.
NMDC rallied 4.5% to Rs.90.30 on BSE. The board of director of the company to consider the proposal for Buy Back of the fully paid-up equity shares of the Company of face value of Rs. 1 each. In pursuance of the Internal Code of Conduct for Prevention of Insider Trading in dealing with securities of NMDC Limited, the trading window shall remain closed from June 03, 2016 to June 09, 2016 (both days inclusive), in connection with the above scheduled meeting.
HUL gained by 1.8% to Rs.885 after the company separated its food & beverages business into two divisions, appointing a new executive director (ED) for beverages.
Rajesh Exports slumped 4.9% to Rs.536.45. The company is eyeing $150-170mn acquisition in Dubai to expand refining capacity and increase margins, according to reports.
BPCL gained 1% to Rs.1,013 on BSE. The company has announced that it has received shareholder nod to increase FII Investment Limit to 49%.
A total of 60 stocks registered a fresh 52-week high in trades today, whereas 35 stocks touched a new 52-week low on the NSE.
USDINR trade today trading down 3 paise at 67.32 per US dollar.
Out of 1,461 stocks traded on the NSE, 828 declined and 574 advanced today.
Top 5 Nifty Gainers: M&M (2.00%), SBI (1.50%), GAIL (1.50%), CIPLA (0.90%) and HDFC Bank (0.60%).
Top 5 Nifty Losers: Maruti Suzuki (-2.20%), Bharti Airtel (-1.90%), Adani Ports & Sez (-1.40%), Coal India (-1.30%) and Axis Bank (-1.20%)
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