Live Stock Market Updates - Nifty settles above 8,500 mark

Finally, the BSE Sensex ended with a gain of 41 points at 27,788. The BSE Sensex opened at 27,790 touched an intra-day high of 27,826.69 and low of 27,638.

Closing Bell:

Finally, the BSE Sensex ended with a gain of 41 points at 27,788. The BSE Sensex opened at 27,790 touched an intra-day high of 27,826.69 and low of 27,638.

The NSE Nifty closed with a gain of 20 points at 8,529. The NSE Nifty opened at 8,514.30 hitting a high of 8,540 and low of 8,477.

Among the 51-stocks of Nifty, BPCL, Idea Cellular, ICICI Bank, PowerGrid, Lupin, Bosch, Tata MotorsDVR and Zee were among the gainers on NSE, whereas HUL, IndusInd Bank, Yes Bank, Eicher Motors, Axis Bank, Coal India and Hero MotoCorp were among the losers today.

Live Market:

The Indian stock markets were trading on a flat note amid mixed global clues and hopes of passage of the GST bill in Rajya Sabha. The Central Bank of India on Tuesday allocated Rs.22,915 crore for the recapitalization needs of public sector banks during the year 2016-17.

Global rating agency Fitch affirmed India's sovereign ratings at 'BBB-' with stable outlook as it expects India's GDP to accelerate to 7.7 per cent in the current fiscal. Fitch also raised various concerns including weak private investment and monetary policy transmission.

At 2:25 PM, the S&P BSE Sensex is trading at 27,686 down 60 points, while NSE Nifty is trading at 8,490 down 18 points.

The BSE Mid-cap Index is trading down 0.47% at 12,005, whereas BSE Small-cap Index is trading down 0.46% at 11,868.

PowerGrid, ICICI Bank, TCS, Lupin, Tata Motors, Sun Pharma and Adani Ports are among the gainers, whereas HUL, M&M, HDFC Bank, Hero MotoCorp, Cipla, GAILand Axis Bank are losing sheen on BSE.

Some buying activity is seen in oil and gas, utilities, power and energy sectors, while FMCG, consumer durables, realty, finance and banking are showing weakness on BSE.

The INDIA VIX is down 0.20% at 15.9550. Out of 1,835 stocks traded on the NSE, 985 declined, 582 advanced and 268 remained unchanged today.

A total of 41 stocks registered a fresh 52-week high in trades today, while 17 stocks touched a new 52-week low on the NSE.

State Bank of India,PNB, Bank of India, Canara Bank, Allahabad Bank, Indian Overseas Bank, Syndicate Bank and Bank of Baroda etc advanced 1-4% each after the government gave Rs.22,915 crore to PSU banks as first tranche of recapitalisation money.

Mindtree slumped 5.9% to Rs.578.The stock is currently, trading on a 52-week low on BSE. The company reported a consolidated net profit of Rs. 123.5 crore for the quarter ended 30th June, 2016 registering a decline of 7.14% qoq and 3.74% yoy.

JSW Energy zoomed 1.9% to Rs.81.70. JSW Energy has agreed to acquire the 500 MW (2X250 MW) thermal power plant located at Bina in Madhya Pradesh.

Jaiprakash Power Ventures soared 7% Rs.6.50. The company posted a net loss of Rs.1961.60 million for the quarter ended June 30, 2016 where as the net profit was at Rs.669.60 million for the quarter ended June 30, 2015.

HUL dropped 2.3% to Rs.899. The company’s standalone revenue stood at Rs.8218.18 crore, rising 5.27% qoq and 3.62% yoy. The company is aiming to become the largest e-commerce player in the grocery/FMCG segment soon.

National Aluminium Company Ltd rose 1.9% to Rs.47.50 after the state-run company has signed a pact with the Union Ministry of Mines to meet revenue target Rs.7,100 crore revenue from operations.

Gruh Finance slipped 1.4% to Rs.295 after the company posted 19.6 % rise in net profit at Rs.60.18 crore for the first quarter ended June 30.

Wipro trading marginally lower at Rs.549.The IT major will announce its first quarter numbers later in the day on Tuesday.

Ultratech Cement rose 1.7% to Rs.3559.60.The cement company will announce its Q1 results today.

Camlin Fine Sciences surged 4.1% to Rs.95.25. The company said that State Level Environment Impact Assessment Authority, Gujarat, has granted environment clearance to set up a manufacuring facility for hydroquinone/catechol and its downstream products at the Dahej SEZ. It had investment plans of Rs.180 crore for the unit.

Indiabulls Real Estate slipped 1% to Rs.85.50. The company said that it has raised Rs.20 crore through issue of non-convertible debentures on private placement basis.

Syndicate Bank gained 0.45% after the bank said it has raised Rs.930 crore in the form of unsecured non-convertible (UNC).

Idea Cellular jumped 2.5% to Rs.106.55 after the company slashed the rates of its 4G, 3G BIG Internet packs by upto 67%.

Hotel Leelaventure rose 2% after the Delhi High Court passed a judgment on July 15, 2016 setting aside the award passed by the sole arbitrator in favour of the company, under which it was held that the minimum guaranteed amounts set out in the supplemental agreement dated February 07, 1994 between the Company and Airports Authority of India (AAI) had become impossible of performance.

Exide Industries Ltd stock was lower by 2% at Rs.176.The company posted a net profit of Rs. 1960.50 million for the quarter ended June 30, 2016 as compared to Rs. 1557.10 million for the quarter ended June 30, 2015.

Adani Power gained 1.2% to Rs.28.65 after the company seeks shareholders approval to raise up to Rs.10,000 crore through issuance of equity shares or other instruments like GDR, ADR or debentures.

Samruddhi Realty jumped 6.3% after the company has announced that the Board of Directors of the Company has approved the proposal for issue Non Convertible Debentures (NCDs) on private placement basis aggregating to Rs.75 crore in different tranches.

On the international front, Chinese Yuan continues to descend, with values now at 6.7 levels. PBOC is reported to be comfortable with further fall in Renminbi till 6.8 levels against the greenback. Although PBOC has ruled out any practice of competitive devaluation, it is palpable that Beijing will take measures to safeguard exports amid slowing global markets.

Asian markets are trading mixed. Japan's Nikkei gained 0.47%, Hong Kong's Hang Seng and Shanghai Composite are trading marginally down. US markets closed with gains. S&P 500 gained 0.24% to 2,166. The Dow Jones rose 0.09% to 18,533.05.The Nasdaq Composite added 0.52% to 5,055.78.

The National Green Tribunal has directed the Delhi government’s transport department to deregister diesel vehicles that are more than 10 years old.

ICICI Prudential Life Insurance Co. Ltd, an arm of ICICI Bank Ltd, plans to seek a stock exchange listing through an initial public offering (IPO).

According to media reports, more than seven lakh customers with above Rs.10 lakh annual income have so far been identified and stopped from availing of cooking gas subsidy under the government programme to end state support to high-income consumers.

On the political front, Rajya Sabha passed a bill providing for setting up a regional centre for Biotechnology, which will act as a mentor institution and focus on training of skilled manpower as well as work on research and development.

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Author : Ways2Capital