The domestic market fell for the fourth straight session as lenders pared most of their early gains to close lower along with software exporters while select energy and auto stocks made a comeback ahead of US Federal Reserve Chair Janet Yellen’s testimony to the US Congress today. Yellen is likely to speak on the possible impact of US president-elect Donald Trump’s policies and the outlook for inflation.

Though buying interest in select index majors pushed the index higher in the middle, it failed to hold at a higher level and again retraced to the day’s low in the end.

Nifty closed with a loss of 32 points at 8,080, while BSE Sensex ended today’s trading with a loss of mere 71 points at 26,228.

On the global front, a drop in oil prices weighed on Asian markets on Thursday. Chinese shares headed for their third successive session of losses apprehending that the US Fed will raise rates in December. The Shanghai Composite index and Hong Kong’s Hang Seng index closed marginally lower. Nikkei 225 closed in green.

In Europe, the FTSE 100 was trading up by 0.2%. DAX and the CAC 40 were trading in red.

Lupin Ltd closed marginally higher on the BSE. The company announced that its US subsidiary, Gavis Pharmaceuticals LLC., U.S.A. (collectively Lupin) has received final approval for its Hydrocodone Bitartrate and Acetaminophen Tablets USP from the USFDA to market a generic equivalent of Mikart, Inc’s Hydrocodone Bitartrate and Acetaminophen Tablets.

IT stocks dropped 1.4% on the BSE after Nasscom said on Wednesday that India’s software services industry will grow at a slower pace than estimated earlier. Nasscom now expects the IT exports to grow between 8% to 10% in the current fiscal, slower than the earlier projection of 10 to 12%. TCS tanked 2.5%, HCL Tech and Wipro closed down 1.5% each, while Infosys slipped 1.3%.

Bharti Airtel dropped 4.3%. Bharti Airtel announced completion of the merger of its subsidiary Bangladesh telecom unit with Robi Axiata Limited.

Greenply Industries jumped 6%. The company informed on BSE that MSCI has announced changes to its constituents for the MSCI Global Small Cap Indices as part of the change. Change in constituents for the MSCI Global Small Cap indices will take place at the close of November 30, 2016.

Indraprastha Gas rose 2.2%. The company posted a net profit of Rs 144 crore for the quarter ended September 30, 2016 as compared to Rs 102 crore for the quarter ended September 30, 2015.

Voltas fell 7.8%. The company reported 7% increase in consolidated net profit at Rs 72 crore for the quarter ended on September 30, 2016. It had posted a net profit of Rs 67 crore in the July-September quarter a year ago.

Shipping Corporation of India tanked 8% after the company posted standalone net loss of Rs 20 crore for the second quarter ended September 30, 2016-17. The company had posted standalone net profit of Rs 162 crore in the July-September quarter of the 2015-16 fiscal.

Engineers India soared 2.6% to Rs 265. Engineers India reported a 21% jump in net profit in the September quarter at Rs 94 crore as compared to Rs 77 crore in the same period a year before, and declared a 1:1 bonus share.

Axis Bank advanced 0.50% to Rs 474. The bank has cut marginal cost of fund-based lending rate (MCLR) by 0.15-0.20%.

The rupee was trading up 13 paise at 67.81 per US dollar.

Out of 1,506 stocks traded on the NSE, 999 declined and 471 advanced today. The BSE Midcap and Smallcap indices ended up.

Top 5 Nifty Gainers: Bharti Airtel (1.91%), Asian Paints (1.28%), BHEL (0.79%), ONGC (0.73%) and Lupin Ltd (0.71%).

Top 5 Nifty Losers: ITC Ltd (-1.44%), Tata Motors (-0.36%), Tata Steel (-0.24%) and Maruti Suzuki (-0.16%)

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: +91-9891224488.

The Indian stock market see-sawed between the negative and positive zone throughout the day and ended lower on Wednesday. The domestic market slid for a third straight day as investors continued to assess the impact of the Prime Minister’s move to ban high denomination banknotes.

Nifty closed with a gain of mere three points at 8,112, while BSE Sensex ended today’s trading with a loss of mere six points at 26,299.

On the global front, Asian stocks closed on a mixed note. The Shanghai Composite index and Hong Kong’s Hang Seng index closed marginally lower. Nikkei 225 gained 1%.

In Europe, the FTSE 100 was trading down 0.24%. DAX and the CAC 40 were trading lower by 0.3% each.

Cigarette stocks closed in red after the Union Cabinet is likely to soon consider a proposal to completely ban foreign direct investment in the tobacco sector. ITC tumbled 3.6% on the NSE.

PC Jeweller fell 8% on the BSE. Jewellery companies, whose business mainly runs on cash transactions, have been reeling under the government’s move to ban the usage of high value currency notes.

HDFC gained 2.5% to Rs 1,257 on BSE after the company said that it intends to raise Rs 2,000 crore through issue of senior, secured, non-convertible debentures on private placement basis.

Tata Global Beverages jumped 3.6%. The company reported 48% increase in consolidated net profit at Rs 108 crore for the quarter ended September 30, 2016. Tata Global Beverages had posted a net profit of Rs 73 crore in the July-September quarter a year ago.

Ambuja Cements, ACC closed lower on the BSE after Lafarge Holcim increased its shareholding to 63% of the total Ambuja shares through its subsidiary. It also increased its holding in ACC Ltd., a subsidiary of Ambuja, to 4.48%, the company said in a BSE filing.

Elgi Equipments rallied 4.4% to Rs 175 after the revenue was reported to be 8.4% below the estimate of Rs 373 cr, while net profit was reported 3% lower than the estimated figure of Rs 19 cr.

PSU Oil stocks closed in red after petrol price on Tuesday was cut by Rs 1.46 a litre and diesel by Rs 1.53 per litre.

The rupee was trading down 10 paise at 67.84 per US dollar.

Out of 1,431 stocks traded on the NSE, 809 declined and 574 advanced today. The BSE Midcap and Smallcap indices ended up.

Top 5 Nifty Gainers: Tata Motors (2.46%), Axis Bank (1.98%), BHEL (1.90%), SBI (1.44%) and GAIL (1.42%).

Top 5 Nifty Losers: Bajaj Auto (-1.88%), Hero Motocorp (-1.62%), Wipro (-1.20%), Asian Paints (-1.17%) and Dr Reddys Lab (-1.12%)

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: +91-9891224488.

The Indian equity market ended in the red as indices extended their losing streak for the second consecutive trading session. Nifty ended below the 200-DMA. The stock market dropped to a near five-month low and closed lower for the second straight session as automakers, real estate, metal and FMCG companies continued to extend their losses on the anticipated slowdown in spending as a result of the nationwide cash crunch. Also, negative global cues, depreciating rupee and lower crude oil prices dampened the sentiment.

Nifty closed with a loss of 188 points at 8,108, while BSE Sensex ended today’s trading with a loss of 514 points at 26,305.

Asian markets closed mixed on Tuesday amid rising fears of a rate hike by the US Federal Reserve. Nikkei 225 and Shanghai Composite closed in red while Hang Seng gained 0.5%.

In Europe, the DAX was trading marginally up. The CAC 40 and FTSE 100 gained 0.4% each.

Jet Airways fell 10.6% to Rs 380 on the BSE. The company posted a net profit of Rs 108 crore for the quarter ended September 30, 2016 as compared to Rs 87.6 crore for the quarter ended September 30, 2015.

AIA Engineering Ltd gained 1% on the BSE. The company posted a net profit of Rs 112 crore for the quarter ended September 30, 2016 as compared to Rs 99 crore for the quarter ended September 30, 2015.

Corporation Bank soared 13% to Rs 47.65 on the BSE after the bank posted a net profit of Rs 206 crore for the quarter ended September 30, 2016 as compared to Rs 188 crore for the quarter ended September 30, 2015.

Tata Motors tanked 10%. The company posted a net profit after tax, share of profit of joint ventures and associates of Rs 848 crore for the quarter ended September 30, 2016 as compared to net loss of Rs 1,740 crore for the quarter ended September 30, 2015.

Suzlon Energy rallied 5.3%. The company has posted a net profit of Rs 238 crore for the quarter ended September 30, 2016 as compared to net loss of Rs 202 crore for the quarter ended September 30, 2015.

The rupee was trading down 44 paise at 67.68 per US dollar.

Out of 1,526 stocks traded on the NSE, 969 declined and 498 advanced today.

Top 5 Nifty Gainers: Asian Paints (4.52%), TCS (3.83%), Infosys Ltd (2.93%), Maruti Suzuki (2.65%) and Tata Motors (2.49%).

Top 5 Nifty Losers: Lupin Ltd (-2.06%), Dr Reddys Lab (-1.99%), Tata Steel (-1.32%), Coal India (-4.86%) and Cipla (-1.04%)

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.