The Sensex and Nifty closed lower on Tuesday, pausing after a three-day rally, as investors booked profits after the central bank kept its policy interest rate unchanged and retained FY17 GDP growth forecast at 7.6%. Today’s decline was led by the telecom, oil & gas, metal, pharma, FMCG and capital goods stocks, while consumer durables stocks is among the gainer. Nifty closed with a loss of 33 points at 8,678, while BSE Sensex ended with a loss of 97 points at 28,085.

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

On the economy front, the GST constitutional amendment bill was passed by the Lok Sabha. Prime Minister Narendra Modi in Lok Sabha said that with GST, the government intends to bring uniformity in taxation.

Lupin dipped 5% to Rs.1,607 on Tuesday despite the pharma major reported 55% rise in consolidated net profit at Rs.882 crore for the quarter ended June 30, 2016 against Rs.568.60 crore in the corresponding quarter a year ago.

Polaris Consulting & Services Ltd rose 3.3% to Rs.197. The company reported a net profit of Rs 39.72 crore in June quarter, up 8.21% from Rs.36.71 crore a year ago.

Idea Cellular Ltd dropped 6% to Rs.97.15 on BSE. The company posted a net profit after tax of Rs.2204 million for the quarter ended June 30, 2016 as compared to Rs.8548 million for the quarter ended June 30, 2015.

Wheel India Ltd jumped 8.6% to Rs.1,324. The company said its net profit rose 88% to Rs.14.62 crore in June quarter as against Rs.7.77 crore a year ago.

Godrej Properties Ltd gained 1.7% to Rs.378.25. The company reported a net profit of Rs.43.48 crore, up 9.2% from Rs.39.82 crore a year ago.

Sundram Fasteners Ltd climbed 11% to Rs.213.55. The company reported 96% increase in its net profit to Rs.75.55 crore in June quarter as compared to Rs.38.51 crore a year ago.

Provogue India Ltd soared 7.6% to Rs.4.79. The company said in a notice to BSE that its board approved share allotment to its lenders upon statutory debt restructuring. The company allotted 11.90 crore shares to its seven lenders at Rs.7.66 a share under SDR.

REC jumped 2.2% to Rs.228. The board of Rural Electrification will meet on Thursday to consider issuing bonus shares to its shareholders, the company said in an exchange filing.

USDINR trade today down five paise at 66.89 per US dollar.

Out of 1,490 stocks traded on the NSE, 902 declined and 533 advanced today.

Top 5 Nifty Gainers: Adani Ports & Sez (5.18%), NTPC (1.06%), Bharti Airtel (1.06%), Bajaj Auto (0.83%) and TCS (0.71%).

Top 5 Nifty Losers: Lupin Ltd. (-1.65%), Reliance Ind. (-0.95%), Dr. Reddys Lab (-0.92%), ITC Ltd. (-0.76%) and GAIL (-0.70%).

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The Indian equity market rallied for third consecutive session on Monday ahead of RBI policy review on Tuesday. The NSE Nifty index rose to a 15-1/2 month high thanks to positive cues from the Asian and the European markets. The Sensex hit its highest level since 1 August 2016, while Nifty hit its highest level since 16 April 2015. Nifty closed with a gain of 28 points at 8,711, up 132 points, while BSE Sensex ended with a gain of 104 points at 28,183.

Britannia Industries rallied 9.4% to close at Rs.3152 after the company reported rise of 13% in its consolidated net profit at Rs.219.13 crore for the quarter ended June 30, 2016 as compared to Rs.193.66 crore for the same quarter in the previous year.

Wockhardt tumbled 9.8% to Rs.915. The US Food and Drugs Administration issued an import alert on Wockhardt’s Ankleshwar plant for alleged violation of good manufacturing practices.

Tata Coffee jumped 9.7% to Rs.126.55 after the company reported its net profit rose 135.6% to Rs.64.10 crore in the quarter ended June 2016 as against Rs.27.21 crore during the previous quarter ended June 2015.

Amara Raja Batteries jumped 3% to Rs.927 after it posted a rise of 6.82% in its net profit at Rs.130.66 crore for the quarter ended June 30, 2016 as compared to Rs.122.32 crore for the same quarter in the previous year.

HPCL climbed 4.5% to Rs.1314. The Reserve Bank of India has allowed foreign investors to hike their stake in Hindustan Petroleum Corp. to up to 40% under a portfolio investment scheme.

HDFC spurted 1.7% while Max Financial Services Ltd slipped 1.5%. The merger of Max Financial Services Ltd, its unit Max Life Insurance Co. Ltd and HDFC Life Insurance Co. Ltd will be an all-stock deal. Under a two-step process recommended to the boards of the companies, Max Life will first get merged into Max Financial in a 1:1 share swap ratio.

Hindalco Industries Ltd climbed 4% to Rs.49. The company’s arm Novelis reported June quarter net income at $24 million versus loss $60 million year earlier; adjusted EBITDA up 26% to $268 million.

JK Cement gained 2.5% to Rs.766. The cement company reported a net profit of Rs.61 crore in Q1 compared to a net profit of Rs.1 crore in the corresponding quarter of the previous fiscal.

USDINR trade today down four paise at 66.80 per US dollar.

Out of 1,461 stocks traded on the NSE, 625 declined and 785 advanced today.

Top 5 Nifty Gainers: Lupin Ltd. (1.48%), NTPC (1.35%), BHEL (1.32%), ONGC (0.84%) and Coal India (0.83%).

Top 5 Nifty Losers: ITC Ltd. (-1.08%), HDFC (-0.90%), Adani Ports & Sez (-0.79%), Asian Paints (-0.70%) and M&M (-0.53%).

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.

The Indian equity market closed with huge gains on Friday erasing the entire weeks losses. The rally was led by the interest rate sensitive stocks like banking, auto and realty. Metal, industrial, power, and FMCG stocks were among the other major gainers. On the other hand, IT and telecom stocks were among the major losers. Nifty closed at 8683 points, up 132 points, while BSE Sensex ended at 28,078, up 363 points.

On the global front, Asian shares closed on a mixed note. Straits Times was down 0.13% at 2828, while Hang Seng was up by 1.4% at 22,146.09.

Bharat Forge stock closed higher by 13% at Rs.814.The Company posted a net profit of Rs. 1220.60 million for the quarter ended June 30, 2016 as compared to Rs. 1959.70 million for the quarter ended June 30, 2015.

PVR rallied by 10% at Rs.1225.The company inaugurated a 6-screen multiplex marvel at Xperia mall, Palava.

Suzlon Stock was higher by 6% at Rs.17.20.Suzlon Energy Ltd hopes to exit a process of corporate debt restructuring by March 2017, its chairman reportedly said.

Kirloskar Oil stock was higher by 5% at Rs.283.The company reported 40.8% YoY growth in the net profit to Rs. 58.70 crore for the quarter ended June 30.

Bharat Forge Ltd stock was higher by 3% at Rs. 746. The company posted a net profit of Rs. 1220.60 million for the quarter ended June 30, 2016 as compared to Rs. 1959.70 million for the quarter ended June 30, 2015. Total Income has decreased from Rs. 12159.70 million for the quarter ended June 30, 2015 to Rs. 9826.70 million for the quarter ended June 30, 2016.

Future Enterprises Ltd stock was down by 2% at Rs.18. The Board of Directors of the Company has approved to issue of Secured Redeemable Non-Convertible Debentures (NCDs) for a value upto Rs. 1,250 Crore in one or more tranches within a period of one year, subject to approval by the members.

Thomas Cook India Ltd stock was higher by 3% at Rs.202. The net profit rose 55.78% in June quarter to Rs.62.02 crore.

Deepak Nitrite Ltd stock was up by 2.5% at Rs.104. The net profit rose 230% in June quarter to Rs.67.86 crore.

Moving on to the news from the oil & gas sector. According to an article in a leading financial daily, Oil India Ltd andOil and Natural Gas Corp. (ONGC) Ltd paid a total of Rs 14.5 billion to the Assam government as royalty dues on crude oil mined in the state.

As per the reports, Oil India paid Rs 11.5 billion, while ONGC paid Rs 3 billion to Assam chief minister Sarbananda Sonowal.

This was referring to the ministry’s 2008 order asking oil companies to pay 20% royalty on the discounted price at which they sold crude to state refiners as part of the oil subsidy regime. This impacted the revenues of producing states Assam and Gujarat. States insisted that royalty ought to be computed on the basis of the pre-discount price.

Shortly after the BJP formed the government, the ministry ordered ONGC and Oil India to pay Assam royalty at pre-discounted rates retrospectively from February 2014.

USDINR trade today down at 66.81 per US dollar.

Out of 1,512 stocks traded on the NSE, 347 declined and 1106 advanced today.

Top 5 Nifty Gainers: Cipla (1.48%), Reliance Ind. (1.33%), Bajaj Auto (1.21%), Lupin Ltd (1.16%) and SBI (1.05%).

Top 5 Nifty Losers: NTPC (-1.18%), Bharti Airtel (-0.85%), BHEL (-0.51%), L&T (-0.34%) and Tata Steel (-0.29%).

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