Nifty shuts......

Nifty shuts above 8200 mark ahead of F&O expiry

29 Jun 2016 04:59 PM

The Indian stock market ended with handsome gains ahead of expiry of June F&O series on Thursday. Indices extended its winning streak to third consecutive trading session amid positive global cues and firm rupee. Benchmarks opened with a gap up and then gradually surged higher led by gains in the realty, auto, power, consumer durables, oil & gas, banking, basic material and industrial stocks. Even, mid-cap and smallcap stocks participated in the rally. Only FMCG index closed in red.

Sentiment got boost after the Union Cabinet approved a higher increase in the basic pay of government employees. Some support also came from Reserve Bank of India’s, Financial Stability Report (FSR) stating that despite global uncertainties, banking sector issues, the economy stands out in terms of growth as compared to other emerging markets and the Indian financial system remains stable.

Shares of mining companies closed higher after the Union Cabinet cleared a new mineral exploration policy. Ashapura Minechem climbed 8.2% to Rs.73.05. Sandur Manganese & Iron Ores soared 2.3%.Deccan Gold Mines hit 20% upper circuit at Rs.48.75.

Among the 51-stocks of Nifty, Bosch, Hero MotCorp, NTPC, BHEL, Wipro, PowerGrid, GAIL, HCL Tech and Ambuja Cement were among the gainers on NSE, whereas Lupin, Coal India, ITC, Bank of Baroda, Bharti Airtel, Tata Motors DVR and Eicher Motors were among the losers today.

Finally, the BSE Sensex ended with a gain of 215 points at 26,740. The BSE Sensex opened at 26,627 touched an intra-day high of 26,776 and low of 26,606.31.

The NSE Nifty closed with a gain of 76 points at 8,204. The NSE Nifty opened at 8,173.10 hitting a high of 8,212.40 and low of 8,157.

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 climbed over 1% respectively.

European stocks gained on Wednesday, as investors picked up equities beaten down after last week’s vote in the U.K. to leave the European Union. The FTSE 100 and the CAC 40 were trading higher by 2% each. DAX gained 1.52%.

The India VIX (Volatility) index was down 8.85% at 16.1550. Out of 1,445 stocks traded on the NSE, 331 declined and 1,060 advanced today.

The rupee was trading up 29 paise at 67.66 per US dollar.

DLF soared 7.8% to Rs.144. Billionaire KP Singh and his family is planning to infuse Rs. 10,000 crore into DLF by purchasing shares in a preferential issue with funds raised from the sale of their stake in the company's rental unit, according to reports.

ITC slipped 0.58% to Rs.366 on BSE. The company will invest Rs.4,000 crore over the next 2-3 years to set up 8-9 factories across the country for manufacturing of food products.

Suven Life Sciences gained 1.3% after the company said in a notice to BSE that it secured three product patents in Europe and Eurasia.

Sobha climbed 3.2% to Rs.319 The real estate company will launch its first luxury apartment project, Sobha City in Delhi-NCR. This project will be one of the largest group housing projects in Gurgaon and it will offer best-in-class living experience to the customers, as per media reports.

Bosch jumped 5.3% to Rs.22,656 on BSE. The board of director will consider on July 1 launching a buyback offer for its equity shares. A meeting of the board of directors of the company will be held on July 1, to consider a proposal for buyback of the company's equity shares.

Hester Biosciences dropped 2% to Rs.751 on BSE. The board of Hester Biosciences to consider a proposal to raise funds through a qualified institutional placement (QIP) issue.

A total of 80 stocks registered a fresh 52-week high in trades today, whereas 18 stocks touched a new 52-week low on the NSE.