The Indian equity market closed flat on Thursday on F&O expiry day amid excessive volatility. In continuation to Wednesday’s trade, sentiments were downbeat in the first half, tracking escalation in Tata Group’s feud and feeble Asian markets. Indices surged in mid-afternoon trade after buying was seen in pharma and FMCG shares. Firm opening in European markets too supported sentiments.

Nifty closed almost unchanged at 8,615, while BSE Sensex ended with a gain of 79 points at 27,916.

On the global front, Asian stocks dropped as investors reacted to a slew of earnings at companies from Samsung Electronics to Nintendo. Japan’s Nikkei closed down 0.27%. China’s Shanghai Composite and Hong Kong’s Hang Seng closed lower.

European stocks were trading lower as investors focused on earnings and new data but continued to fret with rising concerns that OPEC countries would not reach an agreement over a production cut. The FTSE 100 and CAC 40 were marginally down 0.3% each, while the CAC 40 slipped 0.65%.

A total of 69 stocks registered a fresh 52-week high in trade today, whereas 15 stocks touched a new 52-week low on the NSE.

ONGC closed flat at Rs 291 on the BSE. The company has posted a net profit of Rs 4,975 crore for the quarter ended September 30, 2016 as compared to Rs 4681.4 crore for the quarter ended September 30, 2015.

Maruti Suzuki closed marginally lower at Rs 5859. The company has posted a net profit of Rs 2,398 crore for the quarter ended September 30, 2016 as compared to Rs 1,497 crore for the quarter ended September 30, 2015.

TVS Motor Company soared 3% after the company has reported a revenue growth of 20.6% for the quarter ended September 2016. Total revenue grew to Rs. 3726.31 crore in the quarter ended September 2016.

Infibeam Incorporation rallied 7% after the company said that it has entered into an Memorandum of Understanding (MoU) with IL&FS Township & Urban Assets (ITUAL) for undertaking and implementing projects in digital space and e-commerce for Central Government, various State Governments and Private Partners. Infibeam Incorporation shall set up a special purpose vehicle (SPV) which will be located at GIFT Two Building, GIFT City.

Just Dial tumbled 5.3% after the company posted a net profit of Rs 29.6 crore for the quarter ended September 30, 2016 as compared to Rs 40.5 crore for the quarter ended September 30, 2015.

Lakshmi Machine Works Ltd fell 5.5% to Rs 4,245 after the company said its net profit for the September quarter fell 31.7% to Rs 37.92 crore against Rs 55.54 crore a year ago.

ITC Ltd gained 2% on the BSE. The company posted a net profit of Rs 2,500 crore for the quarter ended September 30, 2016 as compared to Rs 2,262.5 crore for the quarter ended September 30, 2015.

Hinduja Ventures Ltd rose 4.5% to Rs 550 after the company said in a notice to BSE that it will sell 1.35% stake in Indusind Media at Rs 466 a share. Further, the board has decided to sell 61,147,056 equity shares of Rs 10 each held by the company in Hinduja Energy (India) Limited and has appointed a committee of directors to look into this matter.

Noida Toll Bridge Co Ltd hits 20% lower circuit at Rs 17.85. The ride between Delhi and Noida on the DND Flyway became toll-free after the Allahabad high court on Wednesday ordered the private concessionaire to stop collecting user-fee from commuters, saying they were being illegally taxed.

The rupee was trading down three paise at 66.86 per US dollar.

Out of 1,543 stocks traded on the NSE, 1,011 declined and 487 advanced today.

Top 5 Nifty Gainers: Coal India (2.43%), Tata Motors (2.32%), Dr. Reddys Lab (1.82%), Axis Bank (1.37%) and Hero Motocorp (1.10%)

Top 5 Nifty Losers: ICICI Bank (-1.71%), Bharti Airtel (-1.11%), CIPLA (-1.03%), GAIL (-0.92%) and Wipro (-0.62%)

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