Despite a rally in the domestic equity market on Thursday, the market closed lower on Friday due to profit booking, a weaker rupee and lower crude oil prices. The market saw a secular sell-off in today’s trading session as all the sectoral indices closed in red and fell the most since February 11. Sentiment also weighed the fallout of PM Narendra Modi’s decision to demonetise currency and withdraw high denomination bank notes.

Nifty closed with a loss of 229 points at 8,698, while BSE Sensex ended today’s trading with a loss of 699 points at 26,819.

Asian shares stumbled on Friday and emerging market currencies skid lower as investors fear higher interest rates under the incoming President Donald Trump who will spark capital outflows from the region. Shanghai Composite and Nikkei 225 closed in green while Hang Seng fell 1.4%.

In Europe, the CAC 40 and FTSE are trading in red, while DAX is trading marginally up.

State Bank of India tumbled 3% on the BSE. The bank has posted a net profit of Rs 2,538 crore for the quarter ended September 30, 2016 as compared to Rs 3,879 crore for the quarter ended September 30, 2015.

Sun Pharma zoomed 3.3% after the company reported an over two-fold jump in its consolidated net profit to Rs 2,235 crore for the September quarter. The company had posted a net profit after taxes, non controlling interests, share of profit/loss of associates and joint ventures of Rs 1,028.8 crore for the same period a year ago.

Noida Toll Bridge Company slipped 8.6% after Supreme Court refused to stay Allahabad High Court’s order which made DND flyover toll free.

Indiabulls Real Estate zoomed 6% after the company announced that the board will meet on November 24, to consider buyback of equity shares.

The rupee was trading down 55 paise at 67.17 per US dollar.

Out of 1,479 stocks traded on the NSE, 1,348 declined and 110 advanced today.

Top 5 Nifty Gainers: SB (2.57%), Dr Reddys Lab (1.97%), Wipro (1.50%), ONGC (1.06%) and ITC Ltd (1.01%).

Top 5 Nifty Losers: Asian Paints (-7.43%), Tata Motors (-7.37%), Tata Steel (-5.35%), Maruti Suzuki (-4.86%) and HDFC (-4.80%)

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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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