Wipro arm buys Israeli Aerospace Firm

Wipro Infrastructure Engineering, a division of Wipro Enterprises Ltd., on Monday announced it has acquired Israel-based aerospace firm H.R. Givon for an undisclosed amount. "The acquisition will help us to broaden product portfolio, expand global footprint and forge deeper customer ties in the aviation and aerospace industry," the city-based company subsidiary said in a statement here. 

The deal is expected to be completed in September after regulatory approvals. The 46-year-old Givon tier-1 supplier to original equipment manufacturers makes structural parts and assemblies for fuselage, wings and empennage of an aircraft. 

"As India is the largest buyer of Israeli military equipment and Israel is the second largest defence supplier to India after Russia, buying Givon will strengthen our ability to address the market, where offset potential is estimated to be $10 billion," the statement said.

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Reliance Mutual Fund buys 7 lakh shares of Astra Microwave

On August 1, 2016 Reliance Mutual Fund bought 7,00,000 shares of Astra Microwave Products at Rs 120.05 on the NSE. 

On Monday, Astra Microwave Products ended at Rs 120.85, down Rs 5.15, or 4.09 percent on the NSE. 

The share touched its 52-week high Rs 155.40 and 52-week low Rs 101.55 on 27 November, 2015 and 21 March, 2016, respectively.

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GM OPENING BELLS

NIFTY 6 DOWN @ 8676

BANK NIFTY 52 DOWN @ 18898

Sensex is up 120.38 28123.50

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Nifty 8900 Call adds 10 lakh shares in Open Interest

Nifty 8600 Put added 6.7 lakh shares in Open Interest on August 1 

Nifty 8500 Put added 4.5 lakh shares in Open Interest 

Nifty 9000 Call added 8.4 lakh shares in Open Interest 

Nifty 8900 Call added 10 lakh shares in Open Interest 

FIIs in F&O on August 1 (Provisional data from NSE) 

FIIs net buy Rs 632 crore in Index Future 

FIIs net buy Rs 673 crore in Index Options 

FIIs net sell Rs 975 crore in Stock Future

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Rupee opens Marginally lower at 66.78 per Dollar

The Indian rupee opened marginally lower at 66.78 per dollar on Tuesday versus previous close 66.74. 

"The BoJ inaction last week and weak US GDP numbers have somewhat halted the recent risk rally. The slump in oil prices also will act as a dampener. 

The USD-INR pair has been rallying on the back of expectations of passage of GST bill coupled with global risk on sentiment." "However, the gains have been capped by aggressive intervention, and the pair has settled in 66.50-67/dollar range, with 66.50/dollar forming a strong support."

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Asian shares subdued, RBA rate Decision Awaited

Asian shares edged lower in early trading on Tuesday, taking their cues from a modestly lower day on Wall Street as US crude oil prices slid. The Reserve Bank of Australia's policy board will decide on Tuesday whether rates should be left at 1.75 percent or trimmed a quarter point to a new record low, with most analysts predicting the need to combat low inflation and a rising currency will win the argument for more stimulus. Not all commentators, however, are convinced the RBA will announce a rate cut when its decision is made public at 0430

 "The majority of economists surveyed expect the RBA to cut interest rates by 25 basis points but we feel that a rate cut is not a done deal," wrote Kathy Lien, managing director of FX strategy for BK Asset Management. She noted that since the last RBA meeting in July, manufacturing activity and consumer prices had increased, full time job growth had rebounded, and business confidence had improved.

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Indian ADRs: Wipro, Dr Reddy's Lab, Tata Motors Gain

Indian ADRs ended higher on Monday. In the IT space, Infosys rose 0.85 percent at USD 16.57 and Wipro gained 2.03 percent at USD 11.57.

In the banking space, ICICI Bank was down 3.17 percent at USD 7.34 and HDFC Bank was up 0.06 percent at USD 69.31. 

In the other sectors, Tata Motors added 0.42 percent at USD 37.99 and Dr Reddy's Laboratories gained 1.95 percent at USD 44.50.

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Wall Street edges lower as Energy sector Weighs

The S&P 500 and the Dow closed slightly lower on Monday, as a drop in oil prices dragged down energy stocks, while tech names Apple and Alphabet helped lift the Nasdaq to its highest close in over a year. 

The S&P 500 had hit a record high earlier in the session, but was unable to hold gains as US crude CLc1 slumped to below USD 40 a barrel, its lowest level since April, before settling at USD 40.06. 

"Oil has once again re-emerged as a real driver of how investors are gauging the trend for equities," said Peter Kenny, senior market strategist at Global Markets Advisory Group in New York. "Now we are beginning to see the glut narrative have an impact on oil and have an impact on equities."

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Top Losers

Symbol                                      LTP                          % chng

ICICIBANK                             250.00                       -4.91

LT                                              1,496.65                      -3.99

BHEL                                       142.00                          -2.67

BANKBARODA                      147.70                         -2.64

ADANIPORTS                       228.75                          -1.57

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Top Gainers

Symbol                                   LTP                           % chng

HCLTECH                           779.00                           3.46

TCS                                        2,704.40                       3.25

TATASTEEL                        364.70                           2.72

HINDALCO                          137.00                            2.58

GRASIM                              5,014.00                         2.44

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