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Indian Indices: Indian equity benchmarks traded on a weak note throughout the day and ended the session in negative territory as investors remained cautious over the blast in Manchester at a pop concert. The markets tried to recover from their intraday lows but LOC tension dragged the market in last hour of trade. The Indian army said that it is engaging in ‘punitive fire assaults’ on Pakistani posts that were aiding infiltrators into India. The explosion struck an Ariana Grande concert in northern England on Monday, killing at least 19 people and injuring dozens. Some selling also crept in on report that as the implementation of Goods & Service Tax (GST)is nearing, there are concerns that it could put pressure on the working capital of industries. According to credit rating agency- India Ratings and Research (Ind-Ra), GST implementation will affect the working capital cycle of business in the initial phase owing to the lock up of input credit and noted that easy liquidity in the system is essential to minimize the magnitude of such disruption at the earliest and to absorb the sudden changes in requirement of short term finance.

The BSE Sensex ended at 30351.42, down by 219.55 points or 0.72% after trading in a range of 30316.92 and 30610.64. There were 8 stocks advancing against 22 stocks declining on the index. The broader indices ended in red; the BSE Mid cap index was down by 1.70%, while Small cap index was down by 2.01%. (Provisional)

The CNX Nifty ended at 9381.00, down by 57.25 points or 0.61% after trading in a range of 9370.00 and 9448.05. There were 18 stocks advancing against 33 stocks declining on the index. (Provisional)

Crporate Front: Markets regulator Sebi has proposed to make electronic book mechanism mandatory for all private placement issues on debt basis that have a threshold of Rs 50 crore. Currently, the mechanism is mandatory for all private placements of debt securities with an issue size of Rs 500 crore or more.

Macroeconomic front:The Reserve Bank of India has fixed the reference rate of the rupee at 64.7751 against the US dollar and 72.7489 for the euro. The corresponding rates were 64.5632 and 72.2333, yesterday.According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 84.0327 and 58.37 per 100 yens, respectively, based on reference rates for the dollar and cross-currency quotes at noon. The SDR-rupee figure will be based on this rate, the statement added.

On the global front:

On the global front, Asian markets closed mixed, reacting to the news of a deadly suicide bombing at a pop concert in Manchester. Japanese manufacturing activity expanded at the slowest pace in six months in May as export orders slowed, in a warning sign that global demand may be weakening. European markets were trading in green as investors digested deadly suicide bombing news and further political and economic turmoil in the euro zone.

Commodity Updates:

Top Sectoral& Stock Screening: The only gainer on the BSE was Auto up by 0.17%, while Realty down by 2.84%, Healthcare down by 2.77%, Power down by 1.99%, Utilities down by 1.92% and Consumer Durables down by 1.82% were the top losing indices on BSE. The top gainers on the Sensex were Maruti Suzuki up by 2.54%, Mahindra & Mahindra up by 1.49%, Wipro up by 0.92%, Tata Steel up by 0.72% and Hero MotoCorp up by 0.69%. (Provisional)

Top Nifty Movers: The top gainers on Nifty were Maruti Suzuki up by 2.48%, Mahindra & Mahindra up by 1.69%, Eicher Motors up by 1.43%, Wipro up by 0.90% and HCL Tech up by 0.88%. On the flip side, Adani Ports & Special Economic Zone down by 6.84%, AurobindoPharma down by 6.11%, Cipla down by 5.40%, Sun Pharma down by 3.87% and Bajaj Auto down by 3.49% were the top losers.

Global Signals:

Asian markets were trading mostly in red; Nikkei 225 decreased 65 points or 0.33% to 19,613.28, Jakarta Composite decreased 52.39 points or 0.91% to 5,697.06, Shanghai Composite decreased 13.73 points or 0.45% to 3,061.95 and FTSE Bursa Malaysia KLCI decreased 6.16 points or 0.35% to 1,768.79. On the flip side, KOSPI Index increased 7.71 points or 0.33% to 2,311.74, Taiwan Weighted increased 10.58 points or 0.11% to 10,007.84 and Hang Seng increased 11.81 points or 0.05% to 25,403.15.All the major European Markets were trading in green; UK’s FTSE 100 was up by 17.65 points or 0.24% to 7,513.99, France’s CAC increased 37.06 points or 0.7% to 5,359.94 and Germany’s DAX was higher by 67.18 points or 0.53% to 12,686.64.European markets were trading mostly in green; France’s CAC increased 1.29 points or 0.02% to 5,325.69 and UK’s FTSE 100 increased 30.02 points or 0.4% to 7,500.73. On the flip side, Germany’s DAX decreased 1.29 points or 0.01% to 12,637.40.