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Indian markets end on a flat note
Mon, 1 Jun Closing

Indian equity markets ended the day just above the dotted line after a volatile trading session today. The Indian indices began the day's proceedings on a flat note and the morning session saw them inching upwards. However, profit booking was witnessed during the final hour of trade. BSE-Sensex closed higher by 20 points while NSE-Nifty closed flat. S&P BSE Midcap and S&P BSE Smallcap underperformed and ended just below the dotted line. Sectoral indices were mixed. Capital goodsoods and Realty sector witnessed majority of the buying activity while Healthcare and Banking stocks declined the most.

European markets are mixed. The CAC 40 is higher by 0.15%, while the DAX is leading the FTSE 100 lower. They are down 0.42% and 0.18% respectively. Asian markets finished broadly higher today with China stock market leading among the pack. The Shanghai Composite is up 4.71% while Hong Kong's Hang Seng is up 0.63% and Japan's Nikkei 225 ended marginally up. The rupee was trading strong by 15 paise at 63.67 against the American currency in the mid-session.

According to a leading financial daily, Power generation machine maker Bharat Heavy Electricals Limited (BHEL) has won power cycle piping package contract for revival of NTPC's 3x660 MW Barh Super Thermal Power Project, Stage-I. This project is located at Barh in Patna district of Bihar and valued at Rs 3.69 bn. NTPC awarded this contract to BHEL after terminating deal with a foreign company. BHEL's scope in the order includes design, engineering, manufacture, supply, erection and commissioning of the complete power cycle piping package of the project. Earlier, BHEL had received an order from Ratnagiri Gas & Power Private Limited (RGPPL) for restarting the 1,967 MW Gas Turbine based Combined Cycle Project at Ratnagiri. The scrip of BHEL ended the day in green up 0.7% on the BSE.

As per the leading financial daily, Hindustan Construction Company (HCC) today said it has sold its entire 26% stake in Mumbai-based Vikhroli Corporate Park to Blackstone Purchase Entities for about Rs 2 bn. While HCC owned 26% of the stake, the remaining 74% is owned by ILFS Milestone Fund and others. Reportedly, the transaction is an integral part of the company to monetize the non-core assets and further reduce the debt of the company. HCC shares ended the day at Rs 29.05 a piece up (0.35%) from its previous close.

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