A day after global and domestic cues heavily dented investors’ sentiments, the Indian stock market ended with handsome gains on Thursday amid positive global cues.

Finally, a late bout of buying across metal, banking, power, realty, pharma, telecom and utilities stocks lifted the benchmark although the auto and IT counters continued to trade soft. However, the key benchmark came off day’s high in the last hour of trade on further selling in Infosys and HDFC.

Nifty closed with a gain of 87 points at 8,519, while BSE Sensex ended with a gain of 265 points at 27,518.

Asian shares rebounded on Thursday and the dollar firmed after global markets made a remarkable comeback from the shock of Republican Donald Trump’s presidential victory, dumping safe-havens for the tempting returns of risk assets. Hong Kong’s Hang Seng was up 1.89% and Japan’s Nikkei closed soared by 6%, however, Shanghai Composite Index gained 1%.

In Europe, the FTSE 100 and CAC 40 were trading higher by 1%, while DAX advanced 0.96%.

Banking sector stocks closed higher as banks are expected see improved liquidity when people start tendering cash after the government decided to withdraw 500 and 1,000 rupee notes. PNB zoomed 12%, BoB climbed 9%, while SBI rallied 8.4% on the BSE.

Financial stocks were among the biggest percentage gainers on the NSE index today as investors welcomed the government’s decision to withdraw higher denomination banknotes. The BSE Finance index closed 2.4% higher.

Bank of India surges 13% after the bank posted a net profit of Rs 127 crore for the quarter ended September 30, 2016 compared to a net loss of Rs 1,126 crore for the quarter ended September 30, 2015.

Lupin slipped 2%. Lupin reported its profit surged 58% from a year ago on strong sales growth in the US, the drugmaker’s biggest market. Net profit at India’s third largest drugmaker rose to Rs 662 crore for the quarter.

Dhanuka Agritech rallied 7% after the net profit for the quarter came in at Rs 49.21 crore as compared to Rs 37.7 crore in the corresponding period last year. The company’s total income from operations was at Rs 310 crore as against Rs 270 crore last year.

Fortis Healthcare dropped 1.4% after the company posted a net profit of Rs 38 crore for the quarter ended September 30, 2016 as compared to Rs 61 crore for the quarter ended September 30, 2015.

Bajaj Electricals dropped 5.6%. The company posted a net profit of Rs 16.7 crore for the quarter ended September 30, 2016 as compared to Rs 18.7 crore for the quarter ended September 30, 2015.

Motherson Sumi Systems rallied 6% after the company posted a net profit of Rs 480 crore for the quarter ended September 30, 2016 as compared to Rs 380 crore for the quarter ended September 30, 2015.

USDINR trade today trading up by 13 paise at 66.56 per US dollar.

Out of 1,401 stocks traded on the NSE, 253 declined and 1,124 advanced today.

Top 5 Nifty Gainers: Sun Pharma (5.11%) and BHEL (0.25%).

Top 5 Nifty Losers: Asian Paints (-3.62%), ICICI Bank (-3.50%), Hero MotoCorp (-3.48%), GAIL (-3.37%) and Tata Motors (-3.03%)

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The Indian stock market closed lower after PM Modi announced an unprecedented ban on high-denomination bank notes to curb black money. The recovery in the markets was led by shares of pharma majors with significant exports to the US.

The domestic market crashed on opening with the Sensex sinking over 1,600 points while the Nifty slumped to near 8,000 levels. Sentiment also remained subdued due to uncertainty sparked by the country’s move to withdraw larger bank notes from circulation.

The domestic market pared losses and hit intraday high in mid-afternoon trade after Republican Donald Trump was declared as the 45th President of the US. The Sensex recovered after hitting its lowest intraday level in more than five months, while the Nifty recovered after hitting its lowest intraday level in 4.5 months.

Nifty closed with a loss of 112 points at 8,432, while BSE Sensex ended with a loss of 339 points at 27,253.

Among other Asian markets which closed in red, Hong Kong’s Hang Seng was down 2.2% and Japan’s Nikkei closed lower by 5.6%, however, Shanghai Composite Index fell 0.61%.

European stocks fell sharply on Wednesday and were poised for their worst day since the Brexit vote in the UK as global markets were left stunned by the rising possibility of Republican candidate and political outsider Donald Trump becoming the next US President. The FTSE 100 and CAC 40 were marginally lower, while DAX slipped 1%.

Lupin advanced 1.3% after the pharma company posted a net profit after tax and minority interest of Rs 662 crore for the quarter ended September 30, 2016 as compared to Rs 419.8 crore for the quarter ended September 30, 2015.

Tata Communications slipped 1.5%. The company on Tuesday reported a dip of 64% in its consolidated net profit at Rs 40 crore for the September quarter, mainly due to impairment charges on its investment in South Africa-based firm Neotel. The company had posted a net profit of Rs 112.3 crore in the same period a year ago.

Va Tech Wabag rallied 6%. The company posted a net profit of Rs 28.4 crore for the quarter ended September 30, 2016 as compared to Rs 24.12 crore for the quarter ended September 30, 2015.

Mangalore Refinery and Petrochemicals fell 1.5% after the company reported a net profit of Rs 415.9 crore for the quarter ended September 30, 2016 as compared to net loss of Rs 913.4 crore in the corresponding quarter last year.

PTC India Financial Services zoomed 7% to Rs 41.35 on the BSE. PFS reported a decline of 59% in standalone net profit at Rs 84.9 crore for the July-September quarter of the fiscal. Company’s profit in corresponding July-September quarter was at Rs 211.4 crore.

The rupee was trading marginally up by 13 paise at 66.48 per US dollar.

Out of 1,468 stocks traded on the NSE, 1,230 declined and 204 advanced today.

Top 5 Nifty Gainers: Tata Steel (8.18%), CIPLA (6.12%), SBI (5.68%), Adani Ports & Sez (4.94%) and ICICI Bank (4.28%).

Top 5 Nifty Losers: Asian Paints (-1.90%), Infosys Ltd. (-0.88%), HDFC (-0.79%), Wipro (-0.32%) and Lupin Ltd. (-0.13%)

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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%)

To qualify NCFM Capital Market Dealers Module certification examination, register with Intelivisto.com and buy Capital Market comprehensive question bank which features mock test, chapter-wise and full length test as per NCFM standards. It also includes performance analysis tools to analyze the performance. For more information call on: +91-9582000102.