The market ended in red after gaining for the last two days. The Nifty closed below 8350 ahead of Donald Trump’s inauguration as next President Of the United States.

NSE Nifty slipped 85.75 points or 1 percent at 8349.35, while BSE Sensex closed down 274.10 points or 1 percent at 27034.50.

Pharma and oil gas sectors underformed this week while FMCG stocks did better than other indices.

The PSU Banking sector fell 3% on the back of free fall in Canara and Allahabad Bank.

Metal, Media and Realty sectors tumbled more than 2%.

FMCG closed flat where the fall was followed by Mcdowell-N and ITC gaining 1.7% and 0.5% respectively.

Telecom sector stocks continued to rally where IDEA and Bharti Airtel remained top gainers while Axis Bank extended losses and remained among the top losers.

Axis Bank Ltd is currently trading at Rs 450.5, down by Rs 33.2 or 6.86% from its previous closing of Rs 483.7 on the BSE.

Axis Bank :- The bank dragged the index the most by losing more than 7% of its price on Friday.

Havells :- The mid cap stock closed up by more than 3% on a down day.

M&M finance:- The stock closed down by more than 6% in line with the mood of the market.

Meanwhile, MindTree ended 2 percent down post December quarter results. Analysts are concerned about its valuations.

The rupee was trading at 68.18 per US dollar.

Market breadth remained highly negative with 847 advances and 1856 declines.

Top 5 Nifty Gainers: Bharti Airtel (1.56%), Asian Paints (0.43%), ITC Ltd. (0.41%), Bajaj Auto (0.22%), and HDFC Bank (0.02%).

Top 5 Nifty Losers: Axis Bank (-7.17%), Adani Ports & Sez (-3.53%), BHEL (-2.79%), SBI (-2.71%) and Tata Steel (-2.50%)

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The stock market erased morning gains and closed lower on Tuesday due to profit-booking in metal, oil & gas and PSU stocks. European markets, which opened lower, also weighed on domestic shares.

The Nifty Bank index snapped its longest winning run in two years amid weakness in broader market and profit selling. Nifty Bank index closed lower by 0.21%, HDFC Bank and Kotak Bank were the top losers on Bank Nifty index, down by 1%, while Canara Bank and Axis Bank advanced by 2% each.

NSE Nifty closed with a loss of 15 points at 8,398, while BSE Sensex ended with a loss of 53 points at 27,236.

On the global front, Asian stocks closed on a mixed note. Hong Kong’s Hang Seng advanced 0.54%, China’s Shanghai Composite ended marginally up, while Japan’s Nikkei slipped 1.5%.

All European markets were trading in red ahead of UK Prime Minister Theresa May’s speech later today. May is likely to provide details on the UK’s exit from the European Union. Germany’s DAX decreased 83 points or 0.7% to 11,472, France’s CAC decreased 0.54% to 4,856 and UK’s FTSE 100 decreased 0.33% to 7,303.

Reliance Industries tanked 3.3% on the BSE. The company reported a 4% rise in its third quarter net profit after a dip in refinery margins was offset by robust petrochemical earnings. The consolidated net profit of Rs 7,506 crore in October-December quarter, was 3.6% higher than Rs 7,245 crore in the same period quarter a year ago.

NIIT Technologies slipped 2.2% after the company reported consolidated results for the quarter which were largely in-line with street estimates. Its revenue for the quarter came in 0.2% higher than the estimated figure of Rs 692.5 crore. EBITDA for the quarter came in 3.8% higher than the estimated figure of Rs112 crore.

Tata Global Beverages stocks closed flat at Rs 128. The company intends to divest its stake in its joint venture, Zhejiang Tata Tea Extraction.

Hindustan Zinc slipped 1% after the company posted 44% jump sequentially in mined metal production for December quarter.

Logistics stocks closed higher on Tuesday. The government has finally rolled out the date for the long awaited GST implementation, which has now been extended to July 1, 2017. FM Arun Jaitley has informed during a press meet on Monday that the draft of integrated GST and IGST, taxes that will be levied by Centre, SGST and CGST will be finalised in their next meeting on February 18, 2017. Logistics stocks such as Snowman Logistics, Shreyas Shipping & Logistics, Patel Integrated Logistics, Allcargo Logistics, GATI and Aegis Logistics are up by more than 1%.

The rupee was trading up by 14 paise at 67.96 per US dollar.

At close, the market breadth was skewed in favour of the bears. About 752 stocks declined, 682 advanced and 68 remained unchanged on the NSE.

Top 5 Nifty Gainers: NTPC (3.05%), Asian Paints (2.70%), Axis Bank (1.69%), Hero Motocorp (1.63%) and Hind. Unilever (1.52%).

Top 5 Nifty Losers: Reliance Ind. (-3.53%), Coal India (-2.14%), Adani Ports & Sez (-1.68%), ONGC (-1.44%) and HDFC (-1.13%)

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Indian benchmark indices opened on a negative note taking weak cues from the Asian bourses this morning, but recovered in the late morning session itself and thereafter remained standstill throughout the session.

NSE Nifty closed at 8417.15 up 16.80 points, while BSE Sensex closed at 27302.64 up 64.58 points.

LIC Housing Finance reported increase in revenue by Rs 71.48 cr or 2.07%. Its net profit increased by Rs 4.5 cr or 0.91%.

HIL Ltd, a small-cap cement and cement product manufacturer has announced its Q3FY17 results on January 16, 2017 where company posted a de-growth in revenues and a net loss on quarter on quarter basis.

Dewan Housing Finance Corporation Ltd. reported growth in its revenue and net profit by 9.18% and 5.22% respectively.

On the sectoral front, Realty sector remained positive throughout the day and closed making 1.1% gains, banks and financial services too rallied 1%.

Jewellery stocks were gaining in Monday’s trading session. Gitanjali Gems touched a high of Rs 73.50 per share, up by Rs 7.15 per share or 10.77%.

IT tumbled post heavy weight results and ahead of HCL TECH results. Nifty FMCG and Nifty IT closed flat to negative while all other sectors ended in green.

Nifty Pharma closed losing 0.26%. Pharma giants remained under pressure of scrutiny of their business by US government. Sun Pharma was the top loser which pulled down the Pharma index in Monday’s trading session.

The rupee was trading at 68.10 against the US dollar.

Broader markets outperformed that encouraged market breadth to remain positive with 1562 advances and 1218 declines.

Top 5 Nifty Gainers: Tata Steel (2.73%), Tata Motors (2.36%), Adani Ports & Sez (2.28%), SBI (2.17%) and Hero Motocorp (1.49%).

Top 5 Nifty Losers: Infosys Ltd. (-1.80%), Reliance Ind. (-1.36%), ONGC (-1.19%), Sun Pharma (-1.13%) and GAIL (-0.92%)

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