The Indian equity market ended with sharp cuts on Friday(24^th June) after Britain voted to leave the European Union fueling a wave of global uncertainty. Indices opened with a huge gap down with the NSE Nifty breaching past the 7950 mark while BSE Sensex tumbled over 1000 points. However, benchmarks began staging a smart come back in the second half. The pound collapsed to a 31-year low and there was pandemonium in the currency markets as well crude oil too slipped sharply. Nifty closed with a loss of 182 points at 8,089, while BSE Sensex ended with a loss of 605 points at 26,398.

On the global front, Asian markets ended in red. In China, the Shanghai Composite index ended 1.34%. Hong Kong’s Hang Seng index closed 3% lower, while Nikkei 225 cracked 8.6%.

European stocks faced the heat following after Britain voted to leave the European Union in a landmark referendum. The FTSE 100 was trading down 5%. DAX and the CAC 40 are down over 7.5% respectively.

Omax Autos climbed 3.4% to Rs.66.50 on BSE. The company has announced that Railway Division of the Company has successfully secured order for supply of Railway parts from Indian Railways for order value estimated between Rs. 90-100 crores. Formal Purchase Order would be received by the company in due course of time.

Gujarat Industries Power Company dropped 1.2% to Rs.86.50 on BSE. The company has informed BSE that GIPCL has emerged as successful Bidder in the e-Reverse auction held on June 23, 2016 for selection of Bidder for another 40 MW Solar Power Project in Gujarat Solar Park, Village Charanka, Dist. Patan, Gujarat under NSM Phase-ll, Batch IV.

Tata Motors plunged 8% to Rs.449 on Brexit jitters.

Bank of India slipped 1.6% to Rs.94.90. The bank has announced that the Bank has raised Rs.1000 crore by issue of Basel-Ill Compliant Additional Tier I Bonds (Series-ll).

Glenmark Pharmaceuticals dropped 2% to Rs.759.10 on BSE. The company has been granted tentative approval by the US Food & Drug Administration (U.S. FDA) for Olmesartan Medoxomil Tablets, 5 mg, 20 mg and 40 mg, the generic version of Benicar Tablets of Daiichi Sankyo, Inc.

Sun Pharmaceuticals Industries Ltd closed marginally higher 0.27% to Rs.754. The company on Thursday said it will buy back 7.5 million shares from the public at a price of Rs.900 each. The buyback price, announced after market hours on Thursday(23rd June), is almost 20% above the company’s last traded price of Rs.751.70 on the BSE.

USDINR trade today trading down 69 paise at 67.94 per US dollar.

Out of 1,429 stocks traded on the NSE, 1,110 declined and 278 advanced today

Top 5 Nifty Gainers: Dr. Reddys Lab (1.96%), SBI (1.40%), Hind. Unilever (1.09%), BHEL (0.97%) and L&T (0.89%).

Top 5 Nifty Losers: TCS (-2.22%), Infosys Ltd Axis Bank (-1.48%), Maruti Suzuki (-1.45%), Wipro (-0.94%) and Tata Steel (-0.93%)

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After being cautious for the past two trading sessions, stock market in India surged higher on Thursday tracking a strong upswing in the European equity markets as UK voters began to cast ballots on ‘Brexit’ referendum. The rally was sparked by buying in the banking, auto, Financials, industrial, pharma, consumer durables and oil & gas stocks. On the other hand, realty, telecom and power were among the major losers on BSE. Nifty closed with a gain of 67 points at 8,270, while BSE Sensex ended with gain of 237 points at 27,002.

On the global front, Asian markets closed on a mixed note. The Shanghai Composite index closed marginally lower. Hong Kong’s Hang Seng index and Nikkei 225 gained ended higher.

Reliance Communications rallied 4.2% to Rs.49.70 on BSE. It informed that ICRA Limited upgraded its outlook to Stable from negative on the Long Term rating ‘BBB+’ of the company. It has also reaffirmed rating of A2+ for Short-Term Fund Based / Non Fund Based Limits and Commercial Papers of the company.

Natco Pharma jumped 3.9% to Rs.549.60 on BSE. As per media reports, the pharma company received USFDA approval for Sorafenib Tablets.

DLF slipped 1.4% to Rs.138 on BSE. According to media reports, global investors have submitted expressions of interest for acquiring stake in realty firm DLF Ltd’s rental arm include sovereign wealth funds such as GIC, Abu Dhabi Investment Authority and private equity firm Blackstone Group Lp.

Green ply Industries slipped 1.4% to Rs.238. The board approved raising upto Rs.100 crore via issue of securities.

Shares of domestic air carrier Spice Jet closed 2.3% lower at Rs.64 on BSE despite the company said that it will soon announce the acquisition of 100 narrow-bodied aircraft in due course.

JSW Holdings rallied 13.5% to Rs.1309.50. The company experienced a spurt in volumes by more than 1,325 times.

Mandhana Industries plunged 10% to Rs.144.25 on BSE. The company announced that it was in the process of demerging the ‘Being Human’ retail business into a separate company – Mandhana Retail Ventures, as per reports.

Control Print gained 2% to Rs.286.20. The company said in a notice to BSE that it have been admitted to trade on National Stock Exchange of India Limited with effect from 24 June.

Thomas Cook India rose 4% to Rs.214.75. The stock gained for the third consecutive sessions.

USDINR trade today trading up 19 paise at 67.28 per US dollar.

Out of 1,385 stocks traded on the NSE, 822 declined and 502 advanced today.

Top 5 Nifty Gainers: There are no gainers.

Top 5 Nifty Losers: Tata Motors (-11.84%), Tata Steel Axis Bank (-9.08%), ICICI Bank (-6.85%), SBI (-5.82%) and L&T (-5.54%)

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After losing steam in the previous trading session, the Indian equity yet again ended with marginal losses on Wednesday(22nd June). Market participants remained cautious ahead of the Britain’s referendum outcome on Thursday(23rd June). Although, indices just lost few points today, internally selling pressure was callous. Barring the realty and health care stocks all the other sectoral indices on the BSE ended with losses. Auto, telecom, industrial, capital goods and power index were top losers. Even the mid cap and small cap index edged lower. Nifty closed with a loss of 16 points at 8,204, while BSE Sensex ended with a loss of 47 points at 26,766.

Major Asian stock markets have opened the day on a mixed note with stock markets in China are trading lower by 0.9%. However, stock markets in Singapore and Japan are trading higher by 0.8% and 0.6% respectively. Benchmark indices in Europe ended their previous session in green with stock markets in Germany ending the day higher by 0.6%.

Meanwhile, Federal Reserve Chair Janet Yellen was optimistic about the economy and played down the risk of a recession. She also added that the UK’s vote on EU membership and a potential economic slowdown in China had raised concerns about the strength of the global economy. Meanwhile, ECB President Mario Draghi said ECB was ready for all contingencies in case of Brexit.

Tata Motors dropped 3% to Rs.472 on BSE. Jaguar Land Rover, Britain’s biggest car maker, estimates its annual profit could be cut by $1.47bn by the end of the decade if Britain leaves the European Union, as per media reports.

Escorts shares soared as much as 14% to Rs.207 and hit their highest level in nearly six years since July2010.

Sharon Bio-Medicine hit 20% upper circuit to Rs.11.62 on BSE. The company informed the exchange that the Board of Directors discussed the current financial position of the company and decided to introduce more profitable products, to increase capacity utilization and get the business to move in the regulated markets, specifically in the United States of America.

Mandhana Industries was locked at 10% lower circuit at Rs.160.The company reportedly said it is in the process of demerging its current retail business.

USDINR trade today trading down 9 paise at 67.59 per US dollar.

Out of 1,815 stocks traded on the NSE, 1062 declined, 507 advanced and 247 remained unchanged today.

Top 5 Nifty Gainers: Sun Pharma (1.91%), Tata Motors (1.28%), Dr. Reddys Lab (1.26%), Lupin Ltd (0.80%) and M&M (0.74%).

Top 5 Nifty Losers: NTPC (-3.15%), BHEL Axis Bank (-1.55%), CIPLA (-1.33%), Tata Steel. (-1.08%) and ONGC (-1.01%)

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.