The Indian equity market spent the entire day in a narrow range after the recent slide and ended higher on Monday. The first half was comparatively better; thanks to buying in select index majors, but profit taking in last two hours completely reversed the intra-day gains and pushed index to neutral line. Amidst all, stock specific move continued as usual where banking, financial and energy counters attracted maximum attention from the traders. Nifty closed with a gain of 16 points at 8,709, while BSE Sensex ended with a gain of 102 points at 28,179.

On the global front, Asian stocks closed on a higher note. China’s Shanghai Composite closed 1.21% higher. Latest data showed that the Nikkei Flash Japan Manufacturing Purchasing Managers’ Index (PMI) rose to 51.7 in October from September’s 50.4, improving at the sharpest rate in nine months. Japan’s Nikkei and Hong Kong’s Hang Seng ended in green.

European stocks were mixed ahead of monetary policy decision from the Bank of England. The FTSE 100 and DAX were up by 1% each, while CAC 40 is trading marginally higher.

Mindtree tanked 4.8%. The consolidated net profit declined by 23.2% QoQ to Rs. 94.8 cr against Rs. 123.5 cr of last quarter. The consolidated net revenue for the quarter declined by 2.4% QoQ to Rs 1295 cr as the company faced headwinds in all of its business verticals.

Inox Wind gained 1%. ReNew Power Ventures has issued a repeat order to Inox Wind for a 50 MW wind power project to be executed in the State of Gujarat in India. ReNew Power is India’s leading Independent Power Producer of clean energy with more than 3,000 MW of commissioned and under construction assets.

Wipro tanked 3%. The company posted 8.2% year-on-year drop in net profit at Rs 2,070 crore for the second quarter of this financial ended September 30, 2016.

Axis Bank slipped 1% to Rs 521.30. The bank will announce its Q2 numbers today.

Punj Lloyd zoomed 1.3%. Punj Lloyd’s wholly owned subsidiary – Punj Lloyd Infrastructure (PLIL) has executed definitive agreements with India Infrastructure Fund II (a SEBI registered Category I Alternative Investment Fund represented by its investment manager IDFC Alternatives Limited) to divest three operating solar projects aggregating to 45 MW located in Punjab and Rajasthan subject to customary approvals and other conditions precedent.

Mandhana Industries spurted 1.5% after the company has received in-principle approval from Bank of Baroda (Lead bank) for supplication for Strategic Debt Restructuring (SDR) of the company and it is awaiting the advice and approval of the members banks (Term loan and working capital lenders).

GMR Infrastructure gained 2.2% to Rs 13.36. GMR Infrastructure’s airport arm has raised $522.60 million by selling bonds to international investors, as per media reports.

The rupee was trading higher by 4 paise at 66.84 per US dollar.

Out of 1,557 stocks traded on the NSE, 639 declined and 855 advanced today.

Top 5 Nifty Gainers: Sun Pharma (1.01%), Maruti Suzuki (0.72%), Cipla (0.69%), Axis Bank (0.67%) and Hero Motocorp (0.49%)

Top 5 Nifty Losers: Tata Steel (-2.73%), Hind. Unilever (-1.61%), GAIL (-1.49%), TCS (-1.12%) and HDFC Bank (-1.06%)

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The Indian equity market closed with handsome gains on Thursday amid a choppy session. Indices managed to clock in marginal gains tracking positive global cues. The banking, metal, finance stocks were the top gainers followed by consumer durables and basic materials stocks. On the other hand, auto, IT, health care and FMCG were under pressure. After a gap up start, it oscillated in a range till the end while participants were busy reacting to the earnings. The news of the GST Council meeting ending without finalisation of the tax rate dented sentiments a bit and capped an upside in the index. Nifty closed with a gain of 40 points at 8,699, while BSE Sensex ended with a gain of 145 points at 28,130.

On the global front, Asian markets closed in green. The Shanghai Composite index closed marginally higher. Hong Kong’s Hang Seng index gained 0.3% and Nikkei 225 gained 1%.

Yes Bank advanced 1.3%. The bank has posted a net profit of Rs 802 crore for the quarter ended September 30, 2016 as compared to Rs 610 crore for the quarter ended September 30, 2015

KPIT Technologies zoomed 4.3%. The company has posted a net profit after tax, minority interest and share of profit of associates of Rs 56 crore for the quarter ended September 30, 2016 as compared to Rs 74 crore for the quarter ended September 30, 2015.

Quess Corp rallied 6% after the company entered into agreements to acquire stakes in Singapore-based Comtel Solutions and two domestic firms – Terrier Security Services and Simpliance Technologies – for undisclosed sums.

Bayer CropScience tanked 3% to Rs 4380. Bayer reported a marginal increase of 2% in net profit at Rs 159 crore for the quarter ended September 30, on higher sales.

RBL Bank soared 4.7% after the bank registered net profit growth by over a third to Rs 89.89 crore in Q2 FY17. Net interest income for the quarter was Rs 302.94 crore, an increase of 60%.

Ashok Leyland zoomed 1.7% after the company bagged an order from Tanzania government for vehicles, gensets, spares and equipment.

City Union Bank gained 3.5% on the BSE. Around 3.01 million shares of the bank changed hands in two block deals.

HCC Concessions Ltd commenced commercial operations of its Rs.1,720 crore Farakka Raiganj Highways Ltd (FRHL) in Bengal. The stock closed 1.3% higher on the BSE.

NBCC slipped 1% to Rs 251. Government’s offer to sell up to 72 million shares in NBCC India received 1.29 times demand at 3:05 pm local time, as per NSE data.

Suzlon gained 2% at Rs 15. Suzlon announced a joint venture with Canadian Solar for developing two solar projects of 15MW each in Telangana.

Hindustan Zinc inched up 1% after the company reported a 15% dip in net profit during the second quarter ended September 30, 2016 at Rs 1,902 crore on higher depreciation charges.

Tata Coffee Ltd dipped 3.4% after the company reported 62% increase in its consolidated net profit at Rs 44.7 crore for the quarter ended September 30.

Aptech zoomed 3%. The company reported consolidated net profit of Rs 7 crore for the quarter ended September 30 compared to 0.46 crore reported in the year-ago period.

Unitech climbed 4.4%. The Supreme Court directed Unitech to refund the principal cost of flats to 39 buyers who had booked apartments in a Gurgaon project seven years ago and have still not got possession of their homes.

The rupee was trading down 11 paise at 67.78 per US dollar.

Out of 1,480 stocks traded on the NSE, 742 declined and 673 advanced today.

Top 5 Nifty Gainers: GAIL (1.35%), Dr Reddys Lab (1.28%), Lupin Ltd. (0.98%), Wipro (0.49%) and TCS (0.42%)

Top 5 Nifty Losers: Axis Bank (-2.00%), ONGC (-1.63%), HDFC (-1.62%), Reliance Ind. (-1.56%) and Tata Steel (-1.26%)

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Wiping out most of its early gains, the Indian stock market ended lower in a volatile trading session on Wednesday, taking a breather after Tuesday’s surge. The stock market swung between gains and losses due to profit-booking by funds and investors amid weak European cues. After opening with a positive bias, indices failed to carry forward the momentum. Nifty closed with a loss of 19 points at 8,659, while BSE Sensex ended with a loss of 66 points at 27,984.

On the global front, Asian stocks closed on a mixed note. The Shanghai Composite index closed marginally higher after its GDP grew 6.7% in the year to September, precisely in line with forecasts, with tepid private investment compensated for by robust government spending and a heated property market. Hong Kong’s Hang Seng index slipped 0.38%, while Nikkei 225 gained by 0.21%.

European investors awaited the outcome of the latest regional central bank meeting. The FTSE 100 was trading lower by 0.10%. DAX and the CAC 40 are trading down higher by 0.13% respectively.

Mangalore Chemicals and Fertilisers hit 20% upper circuit at Rs 63.35 after the company posted its net profit stands at Rs 15 crore for the quarter ended September 30 on strong operational performance despite revenue degrowth.

Sun Pharmaceuticals rallied 1% to Rs 750. ICGEB and Sun Pharma announced their new collaboration for development of a dengue vaccine, targeted against all the four serotypes of Dengue virus that cause disease in humans.

IDBI Bank rose 4% after media reports said that four bidders were looking to acquire a part of the government’s stake in the lender. GIC of Singapore, Asian Development Bank, IFC and Commonwealth Development Corporation are eyeing stakes in IDBI Bank, reports added.

BHEL rallied 3.7% to Rs 141 after the company commissioned three power projects – Koldam HEP (4×200 MW) of NTPCBSE 0.17%, Parbati HEP Stage-III (4×130 MW) of NHPCBSE 0.59 % and Rampur HEP (6×68.67 MW) of SJVN. As per media reports, the Supreme Court allowed an appeal against Madras High Court’s stay over construction of Ennore SEZ supercritical thermal power project.

L&T Technology Services advanced 0.45%. The company announced that it has secured a new multiyear, multi-million dollar contract with a large global semi-conductor company to provide verification support on their expansive portfolio of offerings and products.

Havells India tanked 4.7%. Havells India on Tuesday reported a 22% YoY jump in net profit to Rs 145 crore for the September quarter, as per new accounting standard Ind-AS.

Sterling Tools galloped 13% after the company informed BSE that a meeting of the Board of Directors of the Company will consider sub-division of the equity shares of the company on Nov 5.

Indian Oil Corporation gained 1.9% to Rs 326.90. CLSA has retained its buy rating on Indian Oil Corporation and raised target price by 20 per cent to Rs 810 from Rs 675.

Tata Power zoomed 3.5%. Tata Power has appointed three independent directors – Anjali Bansal, Vibha Padalkar and Sanjay Bhandarkar – on its board with effect from October 14, 2016.

Hatsun Agro Product Ltd gained 2%. The company is planning to invest around Rs 850 crore during the current fiscal year and next fiscal year, in order to set up two milk processing facilities, along with the expansion of existing facilities and marketing, as per media report.

Ceat dropped 3.3%. The company has introduced a new range of puncture-safe tyres for motorcycles, thereby creating a new segment.

The rupee was trading up four paise at 66.68 per US dollar.

Out of 1,531 stocks traded on the NSE, 636 declined and 832 advanced today.

Top 5 Nifty Gainers: ICICI Bank (4.79%), Adani Ports & Sez (3.39%), HDFC (1.70%), SBI (1.41%) and Bajaj Auto (1.20%)

Top 5 Nifty Losers: ITC Ltd. (-0.33%), Tata Motors (-0.17%), Hind. Unilever (-0.11%), GAIL (-0.09%) and HDFC Bank (-0.07%)

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