The Indian equity market rallied for the second straight session. Also, increased buying by foreign funds and domestic financial institutions supported trading sentiment. The outcome of the 2016 U.S presidential elections, which will be held today, will have a bearing on global stocks. The frontrunner for the Presidential election is Hillary Clinton from the Democratic Party who is closely followed by Republican Party candidate, Donald Trump.

Nifty closed with a gain of 47 points at 8,543, while BSE Sensex ended with a gain of 132 points at 27,591.

Among other Asian markets, Hong Kong’s Hang Seng was up 0.47% and Japan’s Nikkei closed lower, however, Shanghai Composite Index gained 0.47%.

European stocks were mixed on Tuesday. The FTSE 100 and CAC 40 were marginally up, while DAX is trading in red.

Adani Enterprises climbed 3% after the company announced its plans to form a joint venture with Elbit Incorporated to manufacture unmanned aerial vehicles. The company will hold 51% stake in the joint venture, while the Israel-based firm will own the rest. The new venture will be called Adani-Elbit Advanced Systems India Limited.

Ashok Leyland soared 2.3% after the company posted a net profit of Rs 294 crore for the quarter ended September 30, 2016 as compared to Rs 172 crore for the quarter ended September 30, 2015.

Bharat Forge Ltd slipped 1% after the company posted a net profit after tax of Rs 127 crore for the quarter ended September 30, 2016 as compared to Rs 172 crore for the quarter ended September 30, 2015.

ICICI Bank gained 1.6% on the BSE. The bank reported net profit of Rs 3,102 crore for the quarter ended September 30, 2016 against Rs 3,030 crore in the corresponding quarter a year ago.

Mindtree Ltd zoomed 3% to Rs 442 after a huge block deal. Around 3.65 million or 2.18% stake of the company changed hands in a block deal.

Manali Petrochemical tanked 11.7% to Rs 36 after the company said its net profit fell 37% to Rs 10.39 crore in the September quarter against Rs 16.6 crore a year ago. Its total income fell 18% to Rs 154 crore.

Future Retail dropped 3.7%. Future Retail said it has agreed to buy the retail business of Hyderabad-based Heritage Foods Ltd, promoted by the family members of Andhra Pradesh chief minister N. Chandrababu Naidu, in an all-stock deal. Heritage Foods closed lower by 1.4% on the BSE.

The rupee was trading marginally up by nine paise at 66.65 per US dollar.

Out of 1,500 stocks traded on the NSE, 835 declined and 609 advanced today.

Top 5 Nifty Gainers: There are no gainers currently.

Top 5 Nifty Losers: BHEL (-7.72%), Adani Ports & Sez (-6.50%), ICICI Bank (-5.88%), Hero MotoCorp (-5.70%) and Bajaj Auto (-5.39%)

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The Indian equity market ended higher on Monday snapping a five day losing streak. After gap up start, Nifty remained in a narrow range for most part of the session; however, profit taking in final hour trimmed the intra day gains.

The metal, pharma, banking, financials, FMCG, power and realty stocks ended with gains. On the other hand, telecom and capital goods stocks were among the major losers. The midcap closed 0.59% higher and smallcap soared 1.19%.

Nifty closed with a gain of 63 points at 8,497, while BSE Sensex ended with a gain of 185 points at 27,459.

On the global front, Asian stocks bounced and the dollar strengthened on Monday. Oil prices rose by over 1% with traders citing opportunistic buying after sharp declines in the previous week that brought prices to their lowest since early August because of ongoing weak fundamentals. Japan’s Nikkei closed higher. China’s Shanghai Composite and Hong Kong’s Hang Seng ended marginally up.

In Europe, the FTSE 100 gained 1.3%. The CAC 40 and DAX jumped 1.7% each.

Lupin soared 7% to Rs 1,519 after the company received the inspection closure report from the USFDA for its Goa facility.

Punjab National Bank climbed 6.5%. Punjab National Bank reported a net profit of Rs 549 crore in the second quarter of the current fiscal, a fall of 11% from the Rs 621 crore profit recorded in the corresponding year-ago period.

Dalmia Bharat Ltd gained 1.2% as the Board of Dalmia Bharat and OCL India decided to merge the two entities. The merged entity will have a cement capacity of 25 million tonnes spread across eastern and southern India.

Bank of Baroda rallied 4%. Bank of Baroda reduced the marginal cost of fund (MCLR) based interest rates by 10 basis points across different tenors with effect from November 7.

KPIT Tech gained 1.5%: KPIT Technologies will sell its Berlin-based subsidiary KPIT Medini Technologies AG to ANSYS, but did not disclose the deal size.

Dena Bank dropped 2.5% after the bank posted net loss at Rs 44 crore for the quarter ended September 30, 2016 as compared to net profit of Rs 38.8 crore for the quarter ended September 30, 2015.

HCC climbed 3.8% to Rs 36 on the BSE. The RBI mandated Overseeing Committee (OC) has approved the (S4A) Scheme of Sustainable Structuring of Stressed Assets for Hindustan Construction Company. The ICICI led joint lenders’ forum had proposed the scheme for the infrastructure major.

The rupee was trading down five paise at 66.74 per US dollar.

Out of 1,516 stocks traded on the NSE, 385 declined and 1,090 advanced today.

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