Indian equity market closes in red; ITC as top gainer

Housing Development Finance Corp  (HDFC) slumped nearly 36 points or 2.62% to Rs 1338.50 on media reports where company aims to raise more money via so-called “masala” bond. On July 14, HDFC raised Rs.3,000 crore via the “masala” bond, an offshore-traded, rupee-denominated issue.

Ashok Leyland was trading below 3.25 points or 3.55% as the commercial vehicles major maker on Monday said it closed last month selling 10.492 units, down by five per cent over the comparable period last year. 

European markets are lower today with shares in Germany off the most. The DAX is down 0.59% while London's FTSE 100 is off 0.53% and France's CAC 40 is lower by 0.34%.

The share price of Bajaj Auto soared y 15.05 points or 0.55% to Rs 2750.45 on reporting 20% rise in the domestic sales in July month. 

Sun Pharmaceutical Industries surged by 2.80 points or 0.34% to Rs 837.90 at 12.23 pm on BSE after the company said that one of its subsidiaries received final approval from USFDA for its abbreviated new drug application for generic version of Glumetza tablets.

Midcap stocks were major contributor to BSE's trading session. The BSE Midcap surged by 62.49 points or 0.49% to 12771.22. Tata Communication top midcap by soraing nearly 6% to Rs. 459.05 post quarterly results. 

 InterGlobe Aviation slumped over 6% as its parent company of IndiGo reported 7.3% decline in net profit for the quarter ending June 30.

Japanese shares are lower today as the Nikkei 225 falls 0.73%. The stock markets in Hong Kong is closed this time, while Shanghai SE Composite Index is positive by surging over 0.03%. 

Indian Rupee was trading stable below 0.025 paise or 0.04% to 66.746 against US dollar. The rupee opened at 66.77 unchanged from its previous closing. 

Bombay Stock exchange (BSE) index was trading positive with 23 advances and 7 decline; while National Stock exchange (NSE) was with 37 advances and 14 declines.  

On Tuesday trading session, Indian markets were trading positive with Sensex up by 110 points to 28,101.28 and Nifty above 36 points to 8666.35.