The Indian equity market rallied for the second consecutive session. Positive cues from Asian markets aided the upmove on the domestic bourses. Banking, metal, finance, utilities, capital goods, energy and FMCG stocks led from the front, while IT, telecom, oil & gas, pharma and technology index were among the major losers. Nifty closed with a gain of 80 points at 8,672, while BSE Sensex ended with again of 293 points at 28,152.

On the global front, Hong Kong’s Hang Seng and Japan Nikkei 225 closed in green, while Chinese stocks rose after release of a slew of economic data.

Aditya Birla Nuvo tumbled 17.6% to Rs.1290. The company posted 56.8% fall in consolidated net profit to Rs.305.15 crore in the first quarter ended on June 30, 2016 against Rs.706.23 crore in the same quarter last year. Kumar Mangalam Birla, Chairman of Aditya Birla Group announced the merger of Aditya Birla Nuvo (ABNL) with Grasim Industries. The first step involves merging the two companies and the second would be a spin-off of the financial division.

Hindalco Industries soared 3% after the company posted a nearly 5-fold rise in net profit at Rs.294.07 crore for the quarter ended June 30, 2016 against Rs.61.10 crore in the same period last year.

Grasim Industries closed marginally higher on BSE. The company registered a 63.6% rise in consolidated net profit at Rs.830.22 crore for the quarter ended June 30, 2016 against Rs.507.60 crore in the same quarter last year.

Glenmark Pharma advanced 1.3% to Rs.845.80 after the company reported a 53.2% increase in its net profit at Rs.518.81 crore for first quarter ended June 30, 2016 as compared to Rs.338.57 crore for the same quarter in the previous year.

SP Apparels shares listed at a premium of 13.81% on BSE at Rs.305 against the issue price of Rs.268.

Sun Pharma slipped 0.88% to Rs.802 after the pharma company reported its net profit of Rs.2,033 crore in June quarter compared with Rs.566 crore during the same quarter last year.

Oriental Bank of Commerce jumped 3.7% after the bank reported net profit of Rs.100.7 crore in Q1 compared with Rs.257.84 crore during the same period last year. Gross non-performing assets as a percentage of total advances came in at 11.45 per cent from 9.57 per cent during the previous quarter.

Bank of India soared 10.2% to Rs.114 . The bank has posted a net loss of Rs. 7413.60 million for the quarter ended June 30, 2016 as compared to net profit of Rs. 1297.20 million for the quarter ended June 30, 2015.

State Bank of India climbed 7.2% to Rs.243.20 after the bank’s net profit fell 31.72% to Rs.2520.96 crore on 9.38% rise in total income to Rs 48928.60 crore in Q1 June 2016 over Q1 June 2015. The bank’s gross non-performing assets (NPAs) stood at Rs 101541.18 crore as on 30 June 2016 as against Rs 98172.80 crore as on 31 March 2016 and Rs 56420.77 crore as on 30 June 2015.

Yes Bank rallied 3% to Rs 1,291 on BSE on reports that the stock’s weightage on the MSCI Global Standard Indexes was raised to 1.7% from 0.46% earlier.

USDINR trade today down four paise at 66.87 per US dollar.

Out of 1,424 stocks traded on the NSE, 705 declined and 662 advanced today.

Top 5 Nifty Gainers: Adani Ports & Sez (5.34%), CIPLA (2.02%), Lupin Ltd (0.93%), L&T (0.88%) and ITC Ltd. (0.81%).

Top 5 Nifty Losers: Infosys Ltd (-1.49%), Axis Bank (-1.40%), Tata Motors (-1.21), Sun Pharma (-0.89) and Dr. Reddys Lab (-0.56%)

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After falling for past two trading sessions, the Indian stock market see-sawed between negative and positive zone throughout the day and ended higher snapping its losing streak thanks to renewed buying momentum in the FMCG, oil & gas and IT stocks. Nifty closed with a gain of 17 points at 8,592, while BSE Sensex ended with a gain of 85 points at 27,860.

On the global front, Japanese financial markets are closed today for a national holiday. Hong Kong’s Hang Seng closed in green, while China’s Shanghai Composite ended in red.

Bank of Baroda tumbled 8.9% to Rs.146. The bank said its net profit for the June quarter fell 59.74% from a year ago due to higher provisions and lower net interest income. Net profit for the quarter stood at Rs.423.62 crore as compared to Rs.1,052.15 crore a year ago.

Dilip Buildcon made its debut on the bourses at 10% premium to its offer price of Rs.219 closed higher by 15% at Rs.251.85 on BSE.

Tata Communications closed marginally lower 0.11% to Rs.481. The Lok Sabha passed the Taxation Laws (Amendment) Bill. The Bill, when enacted, will put to rest the Tata Communications- Videsh Sanchar Nigam Limited (VSNL) surplus land issue and boost the government’s plans for non-core asset sales in large public sector undertakings (PSUs) that have land banks.

Punj Lloyd Ltd rose 2% to Rs.20.10. The company posted net Loss for the period of Rs. 2113.90 million for the quarter ended June 30, 2016 as compared to Rs.5818.40 million for the quarter ended June 30, 2015.

VST Industries soared 4.6% to Rs.2,061. The company reported 34.6% increased in its net profit in June quarter to Rs.41.61 crore as against Rs.30.92 crore a year ago.

Sun Pharmaceutical fell 1% to Rs.808. Taro Pharmaceutical Industries’ (Taro Pharma) net profit rose 6.08% to $109.9 million on 8.6% increase in net sales to $233.8 million in Q1 June 2016 over Q1 June 2015.

Lincoln Pharma jumped 7% to Rs.223.55. The company reported a net profit of Rs.10.93 crore in June quarter, up 67.18% from Rs.6.54 crore a year ago.

USDINR trade today down 13 paise at 66.85 per US dollar.

Out of 1,516 stocks traded on the NSE, 897 declined and 567 advanced today.

Top 5 Nifty Gainers: Axis Bank (2.71%), Tata Motors (2.70%), Tata Steel (2.18%), Reliance Ind. (2.09%) and Hero Motocorp (1.67%).

Top 5 Nifty Losers: Infosys Ltd (-0.54%), Dr. Reddys Lab (-0.28%) and Bharti Airtel (-0.22%)

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After opening on flat note, the Indian stock market closed lower for the second consecutive session. However, the benchmarks fell sharply at the fag end of the day as selling pressure accentuated. The decline was led by oil & gas, energy, auto, pharma, power and banking stocks. Even the midcap and smallcap stocks were not spared. Sentiment was also dampened tracking weakness in the European markets. Nifty closed with a loss of 103 points at 8,575, while BSE Sensex ended with a loss of 310 points at 27,775.

On the global front, Japan’s Nikkei and China’s Shanghai Composite closed marginally down, while Hong Kong’s Hang Seng ended in the green.

Mahindra & Mahindra slipped over 2% despite the company reporting 12% rise in standalone net profit at Rs.955.21 crore for the quarter ended June 30, 2016 against Rs.850.09 crore for the same quarter last year.

Birla Group’s units Aditya Birla Nuvo and Grasim Industries fell 4% and 6% respectively, on reports that the parent group plans to merge the two companies.

Motherson Sumi Systems dropped 6.4% to Rs.329. The company has posted a net profit of Rs.439.36 crore for the quarter ended June 30, 2016 as compared to Rs. 379.38 crore for the quarter ended June 30, 2015.

Jubilant Life Sciences surged 7% to Rs.367 after it reported 25.85% rise in consolidated net profit at Rs.164.02 crore for the quarter ended June 30, 2016 against Rs.130.33 crore in the same quarter last year.

Tata Chemicals climbed 8.8% to Rs.504 after Yara International ASA entered into an agreement to acquire the Tata Chemicals Babrala urea plant and distribution business in Uttar Pradesh for $400 million on a debt and cash free basis, including normalised net working capital.

Lupin dropped 3.8% to Rs.1545. The company posted a net profit after taxes & minority interest of Rs.8819.5 crore for the quarter ended June 30, 2016 as compared to Rs.5685.5 crore for the quarter ended June 30, 2015.

Aptech Limited slipped 0.54% to Rs.92.35 after Rakesh Jhunjhunwala on Tuesday bought 700,000 shares of the company.

Nitesh Estates Ltd jumped 5.6% to Rs.13.40. The company said in a notice to BSE that it has decided to sell off the land and has finalized the same with a third party for a total consideration of Rs.26.50 crore. The proceeds of the sale will be utilized to reduce the debts of the Company.

RSWM Ltd fell 6.6% to Rs.450. The company reported 22.7% increase in its net profit to Rs.35.68 crore in June quarter as compared to Rs.29.08 crore a year ago. Net sales rose 4.17% to Rs.726.12 crore.

UCO Bank tumbled 3.8% to Rs.41.10. The bank declared a net loss of Rs.440.56 crore in the June quarter, against a net profit of Rs.256.7 crore a year ago. Its gross NPA ratio touched a record 17.19% from 15.43% at end-March and 7.30% in the year-ago period.

Indian Overseas Bank cracked 3.5% to Rs.26.35. The bank reported a Rs.1450.50 crore loss for the quarter ended June 30, 2016 after a fifth of its advances turned bad. The bank reported a net profit of Rs.14.76 crore a year ago. Gross non-performing assets as a ratio of gross advances were 20.48% at the end of June, higher than the 17.4% reported three months earlier.

Sundram Fasteners Ltd rose 6.5% to Rs.227. The company posted 96.18% increase in its net profit in the June quarter and stood at Rs.75.55 crore compared to Rs.38.51 crore a year ago. Net sales rose 13% to Rs.701.88 crore.

JK Tyre & Industries Ltd slipped 2.7% to Rs.102. The company reported a 14.36% decline in its net profit to Rs.100.26 crore against Rs.117.07 crore a year ago.

Adani Ports and Special Economic Zone climbed 7.8% to Rs.258.55. The company posted a net profit of Rs.8357.10 million for the quarter ended June 30, 2016 as compared to Rs.6389.30 million for the quarter ended June 30, 2015.

USDINR trade today up 12 paise at 66.71 per US dollar.

Out of 1,499 stocks traded on the NSE, 1,116 declined and 335 advanced today.

Top 5 Nifty Gainers: Lupin Ltd. (1.72%), Reliance Ind. (1.45%), ICICI Bank (1.40%), Axis Bank (1.16%) and ITC Ltd. (1.14%).

Top 5 Nifty Losers: M&M (-1.96%), Sun Pharma (-1.92%), SBI (-1.23%), Bharti Airtel (-0.81%) and L&T (-0.75%).

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