Mid-market commentary: August 4, 2016

The Indian markets witnessed trading in a tight range during the mid-market session. The same scenario was seen in the global segment, wherein the Hang Seng and Nikkei were seen in positive territory. The Nifty is trading up by 8 points at 8552 and the Sensex is up by 33 points at 27730. The indices are trading on a positive note between 0.09-0.12 per cent each.

The advance-decline ratio is on the positive side. On the NSE, 1381 shares are in the green and 1044 shares are in the red.

Top 5 Nifty Gainers: Tata Motors is leading the gainers' list so far and is trading higher by 4.4%. Tata Motors (DVR), Tata Steel, Bank of Baroda and Hero MotoCorp are among other gainers.

Top 5 Nifty Losers: Lupin is leading the losers' list so far and is trading lower by 1.2%. It is followed by BPCL, Coal India, ICICI Bank and Infosys.

In the mid-market session, 10 out of the 13 sectors are seen trading in the green zone. Auto has seen the highest gains and is trading higher by 280 points. Healthcare and Metals were up by 93 points and 80 points respectively. Mid-caps and small-caps also were both up by around 50 points each.

All the Asian markets are trading on a positive note since morning. Nikkei is the top gainer so far and is up by 171 points. The Hang Seng is trading higher by 130 points. The Straits Times and KOSPI were also trading on a positive note.

Buzzer: Punj Lloyd: The construction and engineering company Punj Lloyd’s subsidiary Pt Engineering sold its entire stake in UK-based Simon Carves Engineering to Engineers and Constructors International Inc for Rs 13 crore. The stock of Punj Lloyd surged nearly 5 per cent.

Dr Reddy's & Natco Pharma: Dr Reddy's completed acquisition of 8 ANDAs (Abbreviated New Drug Applications) from Teva Pharmaceuticals Industries and an affiliate of Allergan Plc. Natco Pharma received final nod from US FDA for generic versions of Tamiflu oral capsules.

NBCC (India): The realty stock received an order of Rs 250 crore for construction of construction of 30 bedded ESIC hospital at Baltikuri, West Bengal.

Lupin: Rating agency Credit Suisse has downgraded outlook to ‘underperform’ amid unfavourable risk to reward ratio.

Suzlon: Pune based renewable energy solutions provider Suzlon announced turnkey order win of 75.60 MW capacity from PSUs and SMEs. The stock may react to the announcement in the coming sessions.

Nifty future trading in the wide range at 8550-8630, today’s closing level will decide further moves.