The Indian equity market declined for the fifth consecutive session. A sharp plunge in the rupee against the dollar and exception of strong foreign capital outflows after hints of rate hike in December by US Federal Reserve Chairwoman, Janet Yellen dampened the market sentiment. The Sensexdropped over 100 points during the last trading session while the broader Nifty50 hit a 6-month low. The domestic market posted its worst week since February 12.

Nifty closed with a loss of mere six points at 8,074, while BSE Sensex opened at 26,270, touched an intra-day high of 26,349 and low of 26,118.

Asian markets closed mostly lower on Friday, with the Japanese market leading gains on the back of a relatively weaker yen, helping shares of the country’s big exporters. At the close in Tokyo, the Nikkei gained 0.58% to hit a new 6-month high. Hang Seng closed marginally higher, whereas Shanghai Composite slipped 0.5%.

European indices are trading in red. The FTSE 100 and CAC 40 were trading down by 0.4% each, while DAX is marginally lower.

Meanwhile, IT stocks continue to reel under pressure for the third straight day after Nasscom revised the IT sector’s growth forecast downwards to 8-10 per cent this year, as its biggest members such as TCS, Wipro, and Infosys struggle to grow faster because of an uncertain environment.

Punj Lloyd gained 2.6% to Rs 19.55 on NSE after the company said that its wholly-owned subsidiary executed definitive agreements with India Power Green Utility to co-develop 30 megawatts of solar assets.

Dilip Buildcon advanced 1.6% after the company announced that Northern Coalfields (M.P) has declared DBL-DECO (a joint venture of the Company) as the successful bidder (L1) for Excavation of Overburden of First Dig (Solid) and Re-handling by Mechnical Means at specified places at NIGAHI OCP of NCL at a project cost of Rs 1,469.8 crore.

Career Point rose 1%. The company has acquired 1,68,000 fully paid up equity shares 40% of Rs 10 each of Gyan Eduventure Pvt. Ltd., the subsidiary of the Company and consequently, Gyan Eduventure Pvt. Ltd. has now become a wholly owned subsidiary of the Company.

Canara Bank gained 2.6% after the bank has revised deposit interest rates in different maturities in retail and bulk deposits in the range of 5bps to 25 bps and these are effective from November 21, 2016.

IL&FS Transportation Networks advanced 1% after the company announced that the joint venture of the Company and IL&FS Engineering and Construction Co in the ratio of 51:49, has emerged as the Lowest Bidder for the development of two road projects of Madhya Pradesh Road Development Corporation under Madhya Pradesh District Road II Sector Project. The company had quoted an amount of Rs 213.5 crore for Project I and Rs 161.7 crore for Project 2 respectively. The construction period for Project 1 is 730 days and Project 2 is 548 days.

Deepak Fertilisers dropped 6.2%. The company reported a net profit of Rs 26.96 crore for the quarter ended September 30, 2016 against Rs 28.31 crore in the corresponding quarter last year.

Petronet LNG climbed 8.3%. The company’s net profit of Rs 460 crore in July-September is 82% higher than the Rs 253 crore net profit in the same period a year ago.

Reliance Industries rose 1% after the company entered into a global partnership agreement with GE to enter into the Industrial Internet of Things (IIOT) space by building joint applications on the latter’s Predix platform.

The rupee was trading down 34 paise at 68.15 per US dollar.

Out of 1,367 stocks traded on the NSE, 610 declined and 714 advanced today.

Top 5 Nifty Gainers: Wipro (1.12%), Infosys Ltd (0.56%), ONGC (0.42%), GAIL (0.39%) and Coal India (0.37%).

Top 5 Nifty Losers: SBI (-1.92%), HDFC (-1.67%), Dr Reddys Lab (-1.49%), Asian Paints (-1.46%) and Tata Steel (-1.45%)

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