The Indian equity market spent the entire day in a narrow range after the recent slide and ended marginally higher for the second consecutive session. The last trading session of the Samvat year 2072 today marked the beginning of the November series of derivatives contracts. Traders remained sidelined by mixed trends in Asia and on the back of expectations from the US Federal Reserve for an interest rate revision by the end of this year.

Nifty closed with a gain of 23 points at 8,638, while BSE Sensex ended with a  gain of 26 points at 27,942.

On the global front, Asian stocks closed marginally higher. Japan’s Nikkei closed up 0.63%. China’s Shanghai Composite and Hong Kong’s Hang Seng closed lower.

European markets were trading lower as earnings season continues amid heightened expectations that the U.S. Federal Reserve will raise rates in the near-term. The FTSE 100 and DAX were marginally down 0.26% each, while the CAC 40 is trading marginally up.

Gems and jewellery stocks like Titan, Gitanjali Gems and PC Jewellers are shining supported by festive buying on the occasion of Dhanteras.

After the 3 day drubbing, Tata Group stocks closed higher on Friday. Tata Motors, Tata Motors DVR, Tata Communications, Tata Metaliks, Tata Elxsi, Tata Teleservices, Tata Sponge Iron, Tata Coffee, Tata Global Beverages were up between 2%-5% on BSE. Only TCS closed in red. Tata group companies lost a combined Rs 27,506.34 crore in market value over the past three days after the ouster of Tata Sons Chairman Cyrus Mistry and his subsequent warning that the group may have to write down about two-thirds of its net worth due to five unprofitable businesses.

Eicher Motors dropped 2.2% after the company posted a net profit after tax, minority interest and share of profit of associates of Rs 413 crore for the quarter ended September 30, 2016 as compared to Rs 284.6 crore for the quarter ended September 30, 2015.

VRL Logistics tanked 6% after the company posted a net profit of Rs 13.8 crore  for the quarter ended September 30, 2016 as compared to Rs. 29.9 crore for the quarter ended September 30, 2015.

Colgate jumped 3.6% after the FMCG company posted a net income of Rs 181 crore for the quarter-ended September.

Tech Mahindra jumped 5%. Tech Mahindra posted a net profit of Rs 872 crore for the quarter ended September 30, 2016 as compared to Rs 983 crore for the quarter ended September 30, 2015.

Glenmark Pharma rallied 3%. Glenmark’s consolidated revenue was at Rs 2,224 crore ($336.55 mn) as against Rs 1,909 crore (US$295.45mn) recording an increase of 16.5%.

MOIL jumped 3% after the company signed a pact with the Madhya Pradesh government to conduct mineral exploration in the State.

The rupee was trading up three paise at 66.83 per US dollar.

Out of 1,519 stocks traded on the NSE, 577 declined and 889 advanced today.

Top 5 Nifty Gainers: HDFC (2.18%), BHEL (1.80%), GAIL (1.38%), M&M (1.13%)  and Tata Steel (1.11%).

Top 5 Nifty Losers: Axis Bank (-1.61%), ONGC (-1.40%), Infosys Ltd (-1.15%), Tata Motors (-1.00%) and Sun Pharma (-0.89%)

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The Indian equity market closed flat on Thursday on F&O expiry day amid excessive volatility. In continuation to Wednesday’s trade, sentiments were downbeat in the first half, tracking escalation in Tata Group’s feud and feeble Asian markets. Indices surged in mid-afternoon trade after buying was seen in pharma and FMCG shares. Firm opening in European markets too supported sentiments.

Nifty closed almost unchanged at 8,615, while BSE Sensex ended with a gain of 79 points at 27,916.

On the global front, Asian stocks dropped as investors reacted to a slew of earnings at companies from Samsung Electronics to Nintendo. Japan’s Nikkei closed down 0.27%. China’s Shanghai Composite and Hong Kong’s Hang Seng closed lower.

European stocks were trading lower as investors focused on earnings and new data but continued to fret with rising concerns that OPEC countries would not reach an agreement over a production cut. The FTSE 100 and CAC 40 were marginally down 0.3% each, while the CAC 40 slipped 0.65%.

A total of 69 stocks registered a fresh 52-week high in trade today, whereas 15 stocks touched a new 52-week low on the NSE.

ONGC closed flat at Rs 291 on the BSE. The company has posted a net profit of Rs 4,975 crore for the quarter ended September 30, 2016 as compared to Rs 4681.4 crore for the quarter ended September 30, 2015.

Maruti Suzuki closed marginally lower at Rs 5859. The company has posted a net profit of Rs 2,398 crore for the quarter ended September 30, 2016 as compared to Rs 1,497 crore for the quarter ended September 30, 2015.

TVS Motor Company soared 3% after the company has reported a revenue growth of 20.6% for the quarter ended September 2016. Total revenue grew to Rs. 3726.31 crore in the quarter ended September 2016.

Infibeam Incorporation rallied 7% after the company said that it has entered into an Memorandum of Understanding (MoU) with IL&FS Township & Urban Assets (ITUAL) for undertaking and implementing projects in digital space and e-commerce for Central Government, various State Governments and Private Partners. Infibeam Incorporation shall set up a special purpose vehicle (SPV) which will be located at GIFT Two Building, GIFT City.

Just Dial tumbled 5.3% after the company posted a net profit of Rs 29.6 crore for the quarter ended September 30, 2016 as compared to Rs 40.5 crore for the quarter ended September 30, 2015.

Lakshmi Machine Works Ltd fell 5.5% to Rs 4,245 after the company said its net profit for the September quarter fell 31.7% to Rs 37.92 crore against Rs 55.54 crore a year ago.

ITC Ltd gained 2% on the BSE. The company posted a net profit of Rs 2,500 crore for the quarter ended September 30, 2016 as compared to Rs 2,262.5 crore for the quarter ended September 30, 2015.

Hinduja Ventures Ltd rose 4.5% to Rs 550 after the company said in a notice to BSE that it will sell 1.35% stake in Indusind Media at Rs 466 a share. Further, the board has decided to sell 61,147,056 equity shares of Rs 10 each held by the company in Hinduja Energy (India) Limited and has appointed a committee of directors to look into this matter.

Noida Toll Bridge Co Ltd hits 20% lower circuit at Rs 17.85. The ride between Delhi and Noida on the DND Flyway became toll-free after the Allahabad high court on Wednesday ordered the private concessionaire to stop collecting user-fee from commuters, saying they were being illegally taxed.

The rupee was trading down three paise at 66.86 per US dollar.

Out of 1,543 stocks traded on the NSE, 1,011 declined and 487 advanced today.

Top 5 Nifty Gainers: Coal India (2.43%), Tata Motors (2.32%), Dr. Reddys Lab (1.82%), Axis Bank (1.37%) and Hero Motocorp (1.10%)

Top 5 Nifty Losers: ICICI Bank (-1.71%), Bharti Airtel (-1.11%), CIPLA (-1.03%), GAIL (-0.92%) and Wipro (-0.62%)

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The Indian stock market closed down for the second straight day, dragged lower by financial stocks such as Axis Bank after the lender reported a quarterly profit slump and on the back of muted second quarter earnings by some companies.

Besides banks, Tata Group stocks extended their fall after the abrupt ouster of Chairman Cyrus Mistry on Monday, lower global crude oil prices and dampened sentiment ahead of the October month F&O expiry on Thursday.

Nifty closed with a loss of 76 points at 8,615, while BSE Sensex ended with a loss of 255 points at 27,837.

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

Axis Bank tanked 8% to Rs 486 on the BSE. The bank has posted a net profit of Rs 319 crore for the quarter ended September 30, 2016 as compared to Rs 1915.6 crore for the quarter ended September 30, 2015.

Cadila Healthcare dropped 4.8% after the pharma company posted a net profit after taxes, Minority Interest & Share of Profit/Loss of Associates of Rs 338 crore for the quarter ended September 30, 2016 as compared to Rs 475 crore for the quarter ended September 30, 2015.

Suzlon Energy gained 0.48% after the company signed a Share Subscription and Shareholders’ Agreement with Ostro Energy Private Limited for setting-up of a solar power project under Prathamesh Solarfarms Limited, presently a wholly owned subsidiary of the Company, and eventually sale of Prathamesh.

Navneet Education inched up 1% at Rs 110 on the BSE. The company announced the acquisition of Chicago-based Britannica’s Indian curriculum business. Under the agreement, the current Britannica business unit will become an independent company with Navneet.

ITC Ltd closed marginally higher on the BSE. The company posted a net profit of Rs 2,500 crore for the quarter ended September 30, 2016 as compared to Rs 2,262.5 crore for the quarter ended September 30, 2015.

Bharti Airtel Ltd zoomed 2%. The company has posted a net profit of Rs 1460 crore for the quarter ended September 30, 2016 as compared to Rs 1536 crore for the quarter ended September 30, 2015.

The rupee was trading up one paise at 66.82 per US dollar.

Out of 1,481 stocks traded on the NSE, 982 declined and 457 advanced today.

Top 5 Nifty Gainers: ITC Ltd. (1.47%), Dr. Reddys Lab (1.13%), Sun Pharma (1.07%), Maruti Suzuki (0.41%) and HDFC (0.38%)

Top 5 Nifty Losers: Asian Paints (-2.31%), Wipro (-1.63%), SBI (-1.58%), Hero Motocorp (-1.45%) and Hind. Unilever (-1.39%)

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