It has been a positive start to the month of June as the Indian stock market closed the first trading session in the green. The gross domestic product (GDP) number for January-March quarter was robust however it failed to build the momentum. India’s GDP grew 7.9% in the January-March quarter of 2015-16, taking the overall economic growth to a five-year high of 7.6% for the entire fiscal. Even the country's manufacturing PMI came in at 50.7 as against 50.5 in April indicating an uptick in the manufacturing data.
Sentiment was also buoyed as the production of eight core sectors jumped 8.5% in April on the back of pick-up in output of refinery products, fertilisers, steel, cement and electricity.
Telecom, FMCG, Teck, IT and realty index on the BSE ended with smart gains. On the other hand, banking, auto, industrial, finance, capital goods, metal and power index ended with losses.
Adani Ports, Asian Paints, Bharti Airtel, ITC, Bharti Infratel, TCS, Coal India, Idea Cellular, ACC and Wipro were among the gainers on NSE, whereas SBI, Tata Motors, Bank of Baroda, Cipla, Tata Motors DVR, Hindalco and ICICI Bank were among the losers today.
Finally, the BSE Sensex ended with a gain of 46 points at 26,714. The BSE Sensex opened at 26,668 touched an intra-day high of 26,857 and low of 26,672.
The NSE Nifty closed with a gain of 20 points at 8,180. The NSE Nifty opened at 8,179 hit a high of 8,215 and low of 8,171.
The India VIX (Volatility) index fell by 1.3% to 16.0450. Out of 1,400 stocks traded on the NSE, 597 declined and 759 advanced today. The BSE Midcap index slipped 0.3% while BSE Smallcap index up 0.2%.
The rupee was trading down 16 paise at 67.42 per US dollar.
On the global front, Asian stock market closed on a mixed note. In China, the Shanghai Composite index closed down marginally, while Hong Kong’s Hang Seng index and Nikkei 225 ended lower.
In Europe, The FTSE 100 was trading lower by 0.69%. DAX and the CAC 40 are trading down 0.7% each. Brent crude futures traded down 60 cents at $49.29 per barrel, with US crude down 51 cents at $48.59 a barrel.
Jindal Saw jumped 14% to Rs.46. The company reported 10.2% increase in net profit at Rs.106.17 crore for the quarter ended March 31, 2016. The company's sales declined 13.26% to Rs.1803.55 crore in the quarter ended March 2016 as against Rs.2079.14 crore during the previous quarter ended March 2015.
Aviation stock closed on a mixed note after aviation turbine fuel hiked by 9.2% to Rs.46,729.48 per Kl. SpiceJet gained 0.15% to Rs.68.35, while IndiGo dropped 3% and Jet Airways closed down by 2%.
Shares of Unichem Laboratories closed 1.13% higher to Rs.265.50 on BSE after the company yesterday said that it has earmarked Rs.200 crore capital expenditure for FY17. According to the company, most of the funds would go into the company's upcoming API plant in Kolhapur, Maharashtra. "In the current year we are looking at around Rs 150-200 crore of capex which may get spilled over to FY2018 also," Unichem Laboratories VP Finance and CFO Rakesh Parikh said in an analyst call yesterday.
Vakrangee jumped 2.4% to Rs.183.50 on BSE. The company announced a partnership with Aramex India Pvt Ltd, a leading global provider of logistics and transportation solutions. With this partnership, Vakrangee has added another essential and widely used service to the basket of services that are being offered through its last-mile retail outlets known as “Vakrangee Kendra”.
Stocks of public sector oil marketing companies closed marginally lower on BSE after the oil marketing companies hiked petrol prices by Rs.2.58 per litre and diesel by Rs.2.26 per litre, with effect in Delhi from midnight. Shares of IOC, BPCL, GAIL gained in the range of 1% to 2%. The S&P BSE Oil and Gas opened at 9,377.60 and hits a high of 9,393.06 and a low of 9,354. HPCL ended 0.15% lower.
Reliance Communications zoomed 4.7% to Rs.49.25. The company reportedly said it expects to cut down debt by 75% through merger of MTS, Aircel and sales of mobile towers.
Suzlon Energy dropped 5.3% to Rs.15.10. The company posted a net loss after share in minority interest of Rs. 2705.50 million for the quarter ended March 31, 2016, whereas the same was at Rs.12120.60 million for the quarter ended March 31, 2015.
Panacea Biotec soared 12.5% to Rs.117.25 on BSE. The company reported net profit at Rs.72.15 crore in the quarter ended March 2016 as against net loss of Rs.31.39 crore during the previous quarter ended March 2015. The company's sales declined 13.98% to Rs.187.47 crore in the quarter ended March 2016 as against Rs.217.95 crore during the previous quarter ended March 2015.
Maruti Suzuki ended marginally lower on BSE. The company sold 1.2 lakh units in May, which increased by 7.1% compared to 1.15 lakh units sold in year-ago period. The growth was completely driven by domestic business while exports disappointed. Its domestic sales grew by 10.6% to 1.13 lakh units while exports fell 20.8% to 9,872 units against 12,466 units in corresponding period of last fiscal.
Cadila Healthcare slipped 1% to Rs.333 on BSE. The company announced Zydus received final approval from the USFDA for Amantadine Hydrochloride Capsules. The stock is currently trading 1.3% higher at Rs.341 on BSE.
A total of 44 stocks registered a fresh 52-week high in trades today, whereas 34 stocks touched a new 52-week low on the NSE.
ACC Limited, Akzo Nobel India Limited, Alankit Limited, Apcotex Industries Limited, Asian Paints Limited, Biocon Limited, Capital First Limited, Carborundum Universal Limited, Chemfab Alkalis Limited, Cholamandalam Investment and Finance Company Limited, CRISIL Limited, D.B.Corp Limited, Dhanuka Agritech Limited, DPSC Limited, Equitas Holdings Limited, GHCL Limited, Gokaldas Exports Limited, Gokul Agro Resources Limited,Goldstone Technologies Limited, Gruh Finance Limited, HeidelbergCement India Limited,IOL Chemicals and Pharmaceuticals Limited, Jamna Auto Industries Limited, Jayant Agro Organics Limited, JSW Steel Limited, Kohinoor Foods Limited, Kalyani Steels Limited, L&T Finance Holdings Limited, Maharashtra Seamless Limited, Manappuram Finance Limited, Mold-Tek Packaging Limited, Muthoot Finance Limited, Pidilite Industries Limited, Pricol Limited, PVR Limited, Rushil Decor Limited, Shilpi Cable Technologies Limited, SKS Microfinance Limited, Sudarshan Chemical Industries Limited, Tata Motors Limited, The Tinplate Company of India Limited, Tube Investments of India Limited UFLEX, V-Guard Industries were some of the prominent stocks to log a fresh 52-week high during intra-day.
ANG Industries Limited, Austral Coke & Projects Limited, Birla Cotsyn (India) Limited, Commercial Engineers & Body Builders Co Limited, Entegra Limited,Gammon Infrastructure Projects Limited, Goenka Diamond and Jewels Limited, Gujarat NRE Coke Limited, ICSA (India) Limited, IPCA Laboratories Limited, IL&FS Investment Managers Limited, Jaiprakash Associates Limited, Jaypee Infratech Limited, Jaiprakash Power Ventures,Jindal Stainless Limited, Palred Technologies Limited, Pudumjee Paper Products, Prakash Steelage Limited, PSL Limited, Raj Rayon Industries Limited,Rasoya Proteins Limited, Rei Agro Limited, Rohit Ferro-Tech Limited, Sharon BioMedicine LimitedShriram EPC Limited, Signet Industries Limited, SRS Limited,Sterling Biotech Limited, Surana Industries Limited, SVOGL Oil Gas And Energy Limited, Tantia Constructions Limited, Venus Remedies Limited, Visesh Infotecnics Limited, Zicom Electronic Security Systems were some of the notable stocks to record new 52-week low during the day.