Sensex holds....

Flat end for indices...Sensex holds above 27000

08 Jun 2016 05:25 PM

After opening on a flat note, indices were stuck in a narrow trading range throughout the day clocking in minuscule gains. The power, capital goods, industrials and utilities stocks were among the major gainers. On the other hand, IT and healthcare stocks were under pressure. 
 
Tata Power, HCL Tech, Ambuja Cement, Power Grid, Bank of Baroda, L&T, BHEL and ONGC were among the gainers on NSE, whereas Kotak Mahindra Bank, Infosys, Zee Ent, Asian Paints, Adani Ports, HDFC Bank and Yes Bank were among the losers today.
 
Defence stocks were in demand after US and India agreed to move ahead with the construction of six nuclear reactors in India by an American company. The first such move since the countries signed a landmark civil nuclear deal in 2008. Reliance Defence and Engineering rallied 10.3% to Rs.65.20. BEML zoomed 4% to Rs.870. Walchandnagar Industries soared 10.8% on BSE.
 
India’s Meteorological Department reported that Southwest monsoon has hit Kerala. IMD also said that the coast of Maharashtra may see rains in the next 4 days.
 
Investors were sanguine as the government pitches for a ratings upgrade with Fitch Ratings, citing improved macroeconomic outlook and India’s commitment to fiscal consolidation. In December, Fitch Ratings affirmed India's 'BBB-' rating with a stable outlook.
 
Finally, the BSE Sensex ended with a gain of 11 points at 27,021. The BSE Sensex opened at 27,085 touched an intra-day high of 27,105 and low of 26,973.
 
The NSE Nifty closed with a gain of mere seven points at 8,273. The NSE Nifty opened at 8,286 hitting a high of 8,289 and low of 8,252.
 
The India VIX (Volatility) index was up 1.83% at 15.1420.
 
Out of 1,468 stocks traded on the NSE, 474 declined and 940 advanced today. The BSE Midcap index ended 0.52% higher while the Smallcap index gained 0.89%.
 
The rupee was trading up 6 paise at 66.90 per US dollar.
 
On the global front, Asian stocks closed on mixed note as weak The Shanghai Composite and Hong Kong’s Hang Seng index closed down. Japan's Nikkei 225 ended higher by 0.92%.
 
European shares fell on Wednesday. The FTSE 100 was trading marginally up. DAX and the CAC 40 are down 0.5% respectively.
 
L&T gained 1.5% to Rs.1510 after the company announced that its construction arm along with its joint venture (JV) partner in Qatar, Al Balagh Trading & Contracting, has signed a contract to build a 40,000 seater stadium, as part of the sports infrastructure being readied by the Emirate in preparation of the 2022 Fifa World Cup.
 
JSW Energy climbed 13.5% to Rs.80.35 on reports that the company might clinch the 860 MW Karnataka SEB power purchase deal.
 
Rajesh Exports dropped 1.4% to Rs.495. The company has announced that it has bagged Rs. 653 crores worth export order.
 
Siemens soared 4.2% to Rs.1257 after the company announced that, together with Siemens Bangladesh Ltd., it has won an order worth approximately Rs. 113 crore from Power Grid Company of Bangladesh Limited (PGCB) to design, procure, supply, install, test and commission 230/132kV Gas Insulated Switchgear Substation along with 225/300 MVA, 132/33 KV and 50/75 MVA Transformers at Keraniganj within Dhaka.
 
JSW Steel gained 1.3% to Rs.1395. The company reported its highest ever monthly crude steel production for May 2016 at 13.48 lac tonnes showing growth of 16% over the corresponding month of previous year.
 
Shreyas Shipping & Logistics jumped 4% to Rs.402. The company has entered into vessel sharing arrangement with Shipping Corporation of India to commence two coastal services connecting the Middle East commencing from second week of June.
 
GMR Infrastructure zoomed 2.8% to Rs.11.84. GMR Infrastructure Ltd led consortium won two projects to build parts of India’s upcoming eastern cargo rail corridor, adding up to 221km, at a cost of Rs.2,280.70 crore.
 
Telecom stocks ended higher by 0.74%. In a move that can bring cheer to telecom companies, the inter-ministerial decision making body approved lower spectrum usage charge of 3% for the coming auctions of radio waves. This charge was 5% in the last two auctions of spectrum. Bharti Airtel Ltd gained 1%, Idea Cellular down 0.19%, Reliance Communications up 1.65%.
 
Alphageo (India) hit 20% upper circuit after the company received Letter of Award of contracts from Oil & Natural Gas Corpn for acquisition of 2D Seismic Data in un-appraised on land areas of Indian Sedimentary Basins of India as part of the National Seismic Program by March 2019. The estimated contract value of the awards received is about Rs.1482 crore inclusive of taxes. The stock hit 20% upper circuit for the second consecutive session.
 
Adani enterprises zoomed 2.8% to Rs.74.90 as it is in the process of setting up a copper smelter project with a capacity of one million tonnes per annum at an investment of Rs.10,000 crore at Adani Port Special Economic Zone (APSEZ) in Gujarat.
 
NMDC slipped 1.4% to Rs.90.40. The company has announced buyback of 80.08 crore equity shares, representing 20.2% of the total number of equity shares in the paid-up share capital of the company at Rs.94 per share for an aggregate consideration not exceeding Rs.7527.75 crore.
 
Suzlon rallied 2.8% to Rs.16.30 after the company is reportedly planning to achieve 40% market share in FY17, up from 26% last year. The company is re-orienting by venturing into solar power, re-powering its old sites and eying high growth markets like US and emerging markets such as China, Brazil, South Africa, Turkey and Mexico in the next five years, as per media report.
 
Insecticides (India) zoomed 3.6% to Rs.453 on BSE. The company is reportedly in planning to bring some products from Japan and the US to the Indian market, as per media report.
 
Bharat Forge surged 2.2% to Rs.765 on BSE. The company announced that its joint venture with GE, Alstom Bharat Forge Power has signed a contract worth $219 million approximately (Rs.1495 crore) with NTPC.
 
A total of 52 stocks registered a fresh 52-week high in trades today, whereas 25 stocks touched a new 52-week low on the NSE.
 
Aegis Logistics Limited, Akzo Nobel India Limited, Alphageo (India) Limited, Asian Granito India Limited, Balrampur Chini Mills Limited, Biocon Limited, Blue Coast Hotels Limited, Cineline India Limited, Coromandel International Limited, Dalmia Bharat Limited, DCM Shriram Limited, Deccan Cements Limited, Edelweiss Financial Services Limited, EID Parry India Limited, Finolex Cables Limited, Firstsource Solutions Limited, GIC Housing Finance Limited, Gujarat Narmada Valley Fertilizers and Chemicals Limited, Goa Carbon Limited Goldstone Technologies Limited,HeidelbergCement India Limited, The Indian Hotels Company Limited, IOL Chemicals and Pharmaceuticals Limited, ITC Limited, Jindal Drilling And Industries Limited, Kajaria Ceramics Limited, K.M.Sugar Mills Limited, Kalyani Steels Limited, Lumax Industries Limited, Mahindra & Mahindra Financial Services Limited, Maharashtra Seamless Limited, Mangalam Cement Limited, Mawana Sugars Limited, Mercator Limited, Nagarjuna Oil Refinery Limited, NTPC Limited, Pricol Limited, PVR Limited, Rajshree Sugars & Chemicals Limited, Repco Home Finance Limited,Rushil Decor Limited, Shilpi Cable Technologies Limited, Sree Rayalaseema Hi-Strength Hypo Limited, Steel Strips Wheels Limited, Suprajit Engineering Limited, Tata Metaliks Limited, Tata Motors Limited, Tata Motors Limited, Thiru Arooran Sugars Limited, The Tinplate Company of India Limited, Trigyn Technologies Limited, UFLEX were some of the prominent stocks to log a fresh 52-week high during intra-day.
 
Ankit Metal & Power Limited, Austral Coke & Projects Limited, Birla Cotsyn (India) Limited, Entegra Limited, Gujarat NRE Coke Limited, Hindustan Motors Limited, Impex Ferro Tech Limited, Jayaswal Neco Industries Limited, Jaypee Infratech Limited, KSS Limited, Malwa Cotton Spg. Mills Limited, Metkore Alloys & Industries Limited, Moser-Baer (I) Limited, Omnitech Infosolutions Limited, Prakash Steelage Limited, Rainbow Papers Limited,Raj Rayon Industries Limited, Rasoya Proteins Limited, Rei Agro Limited, Sujana Universal Industries Limited, Tantia Constructions Limited, Usher Agro Limited, Vimal Oil & Foods Limited, Visesh Infotecnics Limited, Welspun Corp were some of the notable stocks to record new 52-week low during the day.