After gaining for two consecutive trading sessions, the Indian equity market closed lower on (21^st June 2016)Tuesday. Profit booking combined with negative global cues and a weak rupee dampened the sentiment. Market participants also were cautious ahead of the UK referendum scheduled on Thursday. In addition, investors were also seen concerned about US Federal Reserve Chairperson Janet Yellen’s testimony to the US Congress. The testimony can provide further cues towards the next phase of the key lending rate hikes. Nifty closed with a loss of 19 points at 8,220, while BSE Sensex ended with a loss of 54 points at 26,813.

On the global front, Asian shares closed mixed. Japan’s Nikkei and Hong Kong’s Hang Seng gained between 0.7%-1.3% while Singapore’s Straits Times and China’s Shanghai Composite closed in red.

European shares were trading flat with a slight negative bias. The FTSE 100 was trading down 0.30%. DAX and the CAC 40 were trading on a mixed note.

Auto stocks gained 0.58% on BSE. The auto stock rose in a weak market on hopes that above normal monsoon would drive demand for two-wheelers and tractors among others. Ashok Leyland rallied 2.4% to Rs.102. Motherson Sumi Systems, M&M and Amara Raja Batteries closed above 1% each.

Mandhana Industries hit 20% lower circuit on BSE today after it was reported that the company will demerge its retail operations into Mandhana Retail Ventures. Meanwhile, the company may ink new contract with Being Human, promoted by Salman Khan.

Muthoot Finance rallied 3% to Rs.268 on BSE after the company announced the completion of acquiring its insurance broking arm.
Siti Cable Network climbed 2.8% to Rs.38.05 on BSE. The company said in a notice to BSE that its promoters to hike stake in the company by up to 3.67% and buying of shares will start on 27 June.

Bliss GVS Pharma soared 6.2% to Rs.94.85 on BSE after the government yesterday revised the FDI norms for the Indian pharma sector. The scrip yesterday also surged by more than 10%.

Gammon India hit 20% upper circuit at Rs.17.86 on BSE. The company reported a net profit of Rs.53.38 crore in March quarter as compared to net loss of Rs.73.53 crore a year ago.

Take Solutions climbed 3% to Rs.169. The company is planning to sell its supply chain management business to focus more on the life sciences sector that contributes over 75% of revenue, as per media reports.

Man Infra tumbled 3.6% to Rs.44.25. The company received order worth Rs.751.69 crore from Bharat Mumbai Container Terminals Private Limited for development of the fourth container terminal at JNTP in Mumbai.

Kesar Terminals & Infrastructure jumped 13% to Rs.513. The company informed BSE that a meeting of the Board of Directors of the company will be held on June 24, 2016, inter alia, to consider issue of bonus shares.

Entertainment Network zoomed 2.5% to Rs.740 after the parent company said it will be investing $100 million in marketing technology platform Columbia, as per media reports.

Godawari Power & Ispat dropped 2.5% to Rs.57.50 on BSE. The company suspended mining operations at Rajnandgaon in Chhattisgarh due to labour unrest.

Balaji Telefilms dipped 1.1% to Rs.109 on BSE. The company informed bourses that ‘Udta Punjab’ has grossed Rs 53.80 crore in its opening weekened worldwide, with India contributing Rs 45.40 crore and international markets contributing Rs 8.40 crore.

Tata Motors rose 1% to Rs.485 on BSE. Tata Motors’ subsidiary — Jaguar Land Rover (JLR) has launched 2 litre petrol derivative of Land Rover Discovery Sport at a starting price of Rs.56.50 lakh (ex-showroom, Delhi).

Hindustan Construction Company dipped 2% to Rs.20.35. The company is planning to raise Rs.1,000 crore through issue of securities.

Supreme Infrastructure gained 1.2% to Rs.118.95. The company bagged two land development projects for Navi Mumbai Internationl Airport for Rs.398 crore.

USDINR trade today trading down 21 paise at 67.51 per US dollar.

Out of 1,415 stocks traded on the NSE, 701 declined and 644 advanced today.

Top 5 Nifty Gainers: Dr. Reddys Lab (2.46%), ICICI Bank (1.05%), M&M (0.82%), Cipla (0.68%) and Asian Paints (0.67%).

Top 5 Nifty Losers: Tata Motors (-1.77%), Hind. Unilever Axis Bank (-0.84%), Tata Steel (-0.61%), Reliance Ind. (-0.53%) and GAIL (-0.31%)

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Stock market in India started off the week on a bright note despite Reserve Bank of India Governor Raghuram Rajan saying no to a second term. Indices which opened with a gap down, recovered all its losses and managed to close almost near day’s high. The rally was sparked by strong buying seen in the IT, telecom, metals and realty stocks. Even, the mid-cap and small cap stocks participated in the rally. Nifty closed with a gain of 68 points at 8,239, while BSE Sensex ended with a gain of 241 points at 26,867.

On the global front, Asian markets closed in green. The Shanghai Composite index closed marginally higher. Hong Kong’s Hang Seng index and Nikkei 225 gained 2% each.

Aviation stocks ended higher after govt decided to permit 100% FDI under automatic route in Brown field Airport projects. SpiceJet rallied 7.4%. Indigo and Jet Airways rose 6% respectively.

Shares of real estate companies closed higher for the second straight day on the bourses after SEBI proposed further relaxations to the real estate investment trusts (Reits) regulations, to attract real estate developers towards launching these instruments. DLF closed higher 4% each.

Unitech soared 6.7% to Rs.6.04.Court orders proceedings against Unitech, top bosses for cheating. The company clarified that Unitech is a professionally managed company and Directors are not involved its day-to-day affairs.

Max Financial Services climbed 5.8% to Rs.500.The Board of Directors of HDFC Standard Life Insurance Company Limited, Max Life Insurance Company Limited and Max Financial Services Limited at their respective meetings approved entering into a confidentiality, exclusivity and standstill agreement to evaluate a potential combination through a merger of Max Life and Max Financial Services into HDFC Life by way of a scheme of arrangement.

Gammon India hit 20% upper circuit at Rs.14.89.The company reported a net profit of Rs 53.38 crore for the quarter ended March 31,2016.

Tata Chemicals dropped 1% to Rs.426. The company decided to supply Di-ammonium Phosphate (DAP) to its customers from inventory in hand and imports, and consequently production of complex fertilizers, including DAP, is being temporarily suspended at Haldia, West Bengal.

Axis Bank slipped 1% to Rs.522. The bank said that the bank’s Marginal Cost of Funds based Lending Rate (MCLR) for overnight loans will be 8.95%, the rate for one month will be 9.05% and for three months it will be 9.25%.

Eros International rallied 2.4% to Rs.211 after the company announced strategic partnership with Vashu Bhagnani by signing a term sheet to acquire a 50% stake in his film company, Puja Entertainment & Films Ltd.

Cadila Health care gained 0.85% to Rs.316. Zydus strengthened its US portfolio with the acquisition of two ANDAs from Teva that are being divested by Teva as a per-condition to its acquisition of Allergan’s generic business.

USDINR trade today trading down 36 paise at 67.43 per US dollar.

Out of 1,439 stocks traded on the NSE, 596 declined and 767 advanced today.

Top 5 Nifty Gainers: ONGC (1.19%), Adani Ports & Sez (1.14%), GAIL (1.08%), Bajaj Auto (1.07%) and M&M (0.93%).

Top 5 Nifty Losers: BHEL (-1.09%), Axis Bank (-1.03%), Asian Paints (-0.88%), Reliance Ind. (-0.81%) and L&T (-0.76%)

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The Indian equity market closed with modest gain son Friday (17^th June 2016) a mid a choppy session. In dices managed to clock in marginal gains tracking positive global cues. The realty, auto, telecom and FMCG stocks were the top gainers followed by metal, finance and IT stocks. On the other hand, health care, capital goods and oil & gas stocks were under pressure. Nifty closed with again of 29 points at 8,170, while BSE Sensex ended with a gain of 100 points at 26,626.

On the global front, Asian markets closed in green. The Shanghai Composite index closed marginally higher. Hong Kong’s Hang Seng index and Nikkei 225 gained 1% each.

European markets were trading higher. The FTSE 100 was trading up 1.4%. DAX and the CAC 40 were trading higher 1.2% each.

GOCL Corporation jumped 8.4% to Rs.173 after the company bagged an order worth Rs. 127.71 crores.

Axiscades Engineering Technologies soared 2% to Rs.260 after the company said it has decided to establish its wholly owned subsidiary in Germany.

United Breweries (Holdings) tumbled 3.6% to Rs.21.45. The company said it is seeking legal advice to take appropriate steps after the Enforcement Directorate attached properties worth Rs,1,411 crore belonging to the company and its promoter Vijay Mallya in the IDBI Bank loan default case, as per media reports.

V-Guard Industries zoomed 5.3% to Rs.1,392 on BSE. The company informed BSE that the Board of Directors of the company at its meeting held on June 16, 2016, considered and approved the proposal for splitting of equity shares of the company, subject to the approval of the shareholders in respect thereof, in the 20th Annual General Meeting of the Company.

Carborundum Universal dropped 2% to Rs.215 on BSE. Reserve Bank on Thursday(16^th June 2016)allowed foreign investors to buy more equity in Carborundum Universal as their shareholding had slipped below the prescribed limit.

Ujaas Energy gained 1.3% to Rs.24 on BSE. The company received an order for “Designing, Engineering, Procurement & Supply, Construction & Erection, Testing & Commissioning and Comprehensive Operation & Maintenance for 10 years of 3MW (AC) Solar PV Power Plant on Turnkey Basis in UP.

A total of 50 stocks registered a fresh 52-week high in trades today, whereas 23 stocks touched a new 52-week low on the NSE.

USDINR trade today  trading down two paise at 67.19 per US dollar.

Out of 1,480 stocks traded on the NSE, 742 declined and 673 advanced today.

Top 5 Nifty Gainers: L&T (1.70%), TCS (1.30%), Bharti Airtel (1.21%), Infosys Ltd (1.21%) and Wipro (0.91%).

Top 5 Nifty Losers: Axis Bank (-1.20%), Lupin Ltd (-1.05%), Asian Paints (-0.71%), SBI (-0.52%) and Sun Pharma (-0.44%)

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