Mid-market commentary: August 16, 2016

Indian capital markets remained under pressure after disappointing macroeconomic data and weak trend in Asian markets. BSE Sensex is down by 173.5 points or 0.62 per cent at 27981.72, and the Nifty is down 56.55 points or 0.66 percent at 8615.75. About 911 shares have advanced; 1522 shares have declined; and 118 shares are unchanged. 

IIP and CPI data has been released on Friday after market hours. The Industrial Output has grown by 2.1 per cent in June, although down from 4.2 per cent a year ago, on account of weak performance from manufacturing and heavy contraction in Capital Goods.

Oil prices have eased and stand above USD 45 a barrel as the market is weighing the possibility of major producers reaching an agreement to freeze output during a meeting next month. Members of the Organization of Petroleum Exporting Countries (OPEC) as well as non-members are scheduled to meet in Algeria in September.

Stocks to watch:

Bharat Heavy Electricals: Bharat Heavy Electricals (BHEL) has bagged a Engineering, Procurement and Construction (EPC) order for 30 MW Solar Photovoltaic Power Plants.

Natco Pharma: Natco Pharma has received an Establishment Inspection Report for its Kothur facility. The share price of the company will be watched out on Tuesday.

Unitech: According to media reports, Unitech does not have money to refund to home buyers. The share price of the company has dropped by 20 per cent on bourses in early trades. 

HCL Technologies: HCL Technologies has been recognised as a 'Leader' in Gartner Magic Quadrant for Data Centre Outsourcing and Infrastructure Utility Services in North America.

Just Dial/ Power Grid Corporation of India: Just Dial and Power Grid Corporation of India will declare their Q1FY17 results on August 16.