The Indian equity market started the day on a cautious note and closed lower on weak global cues, profit booking and a weak rupee dampened the sentiment. The Sensex hit a 14-week low, while the Nifty hit its lowest level in more than 10 weeks. The domestic market closed near a 3-month low after a sell-off in Chinese shares raised concerns around global growth. Heavy selling pressure was witnessed in auto, telecom, industrial, realty and pharma stocks. Only Banking shares closed in the green on the BSE. Nifty closed with a loss of 63 points at 8,520, while BSE Sensex ended with a loss of 144 points at 27,530.

On the global front, Asian markets fell on Monday. Shanghai Composite and Hang Seng closed lower, while Nikkei 225 closed in the green.

In Europe, the FTSE 100 was trading down by 1%. The CAC 40 and DAX slipped 0.6% each.

UltraTech Cement slipped 1% to Rs 4009. The company has posted a net profit after taxes and Minority interest of Rs 614 crore for the quarter ended September 30, 2016 as compared to Rs 490 crore for the quarter ended September 30, 2015. Total Income has decreased from Rs 6,804.2 crore for the quarter ended September 30, 2015 to Rs 6,667.5 crore for the quarter ended September 30, 2016.

ICICI Bank zoomed 7% to Rs 258.55. Rosneft bought a 49% stake in Essar Oil’s refinery port and petrol pumps, while Netherlands-based Trafigura Group Pte and Russian investment Fund, United Capital Partners split another 49% equity equally. The remaining 2% is held by minority shareholders after delisting of Essar Oil. Rajiv Sabharwal, the brain behind ICICI Bank’s flourishing retail lending business has called it quits and will be replaced by ICICI veteran Anup Bagchi.

NIIT Technologies dropped 6.5% to Rs 411. NIIT Tech reported better-than-expected revenue of Rs 692 crore in the September quarter helped by growth in its banking, financial services and insurance business (BFSI) from the US.

DCB Bank rallied 3.2%. The bank reported 31% year-on-year growth in the net profit of Rs 48.5 crore for the quarter ended September 30 compared with 36.9 crore reported in the year-ago period.

Fortis Healthcare zoomed 4.6%. Fortis Healthcare completed the acquisition of 51% stake in Fortis Hospotel Ltd and also acquired compulsorily convertible preference shares issued by Escort Heart Institute and Research Centre.

Resonance Specialties rallies 5%. One of the company’s manufacturing sites – Vista Organics, Mandideep, (Bhopal) has been recently inspected by the USFDA (US Food and Drug Administration). 483 observations have been issued and EIR (Establishment Inspection Report) is awaited by the company.

LML hit 20% to Rs 12.22 after the company said in a notice to BSE that it intends to commence trial production of its light cargo 3-wheeler vehicle around the end of October 2016.

Steel Strips Wheels Ltd fell 7.8% to Rs 708. The company reported 20% jump in its net profit in September quarter to Rs18.02 crore against Rs15.03 crore a year ago. Net sales fell 2.8% to Rs290.95 crore.

RS Software India Ltd tanked 6% to Rs 70.60 after the company posted a net loss of Rs5.96 crore in September quarter against net profit of Rs7.62 crore a year ago.

GVK Power & Infrastructure Ltd jumped 10.3% to Rs 6.93 after a huge block deal. Around 57.10 million shares or 8.7% stake of the company changed hands.

Ujaas Energy zoomed 3.2% to Rs 24 after the company won an order from Uttarakhand Renewable Energy Development Agency (UREDA) for Grid Interactive Rooftop & small Solar PV Power Plant of up to 5Kwp.

SBI advanced 0.48% to Rs 253. State Bank of India will divest up to 5% of its stake in its life insurance subsidiary, SBI Life Insurance Co. Ltd.

Granules India gained 1.2%. The company informed BSE that Gagillapur facility located at Hyderabad, Telangana, has successfully completed USFDA inspection without any observations. This facility manufactures Finished Dosages (FDs) and Pharmaceutical Formulation Intermediates (PFIs).

The rupee was trading down 15 paise at 66.85 per US dollar.

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

Top 5 Nifty Gainers: Tata Steel (2.57%), HDFC (1.92%), ICICI Bank (1.53%), BHEL (1.14%) and Reliance Ind. (1.09%)

Top 5 Nifty Losers: Asian Paints (-0.94%), Bharti Airtel (-0.45%), ONGC (-0.38%) and TCS (-0.10%)

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.

The Indian stock market recovered from the previous session’s multi-month low and closed marginally higher with financials gaining on the prospect of further rate cuts after inflation cooled to a 13-month low in September. Markets were unable to hold on to their gains as selling pressure in the telecom, IT, technology and consumer discretionary stocks dragged indices lower. On the other hand, oil & gas, capital goods, energy, industrial, realty and banking stocks ended with gains. Nifty closed with a gain of 10 at 8,583, while BSE Sensex ended with a gain of 30 points at 28,507.

On the global front, Asian markets closed mixed on Friday, with investors assessing price increases in China and the possibility of an interest rate hike in the U.S. later in the year. Japan’s Nikkei and Hong Kong’s Hang Seng gained over 0.50%. China’s Shanghai Composite closed higher.

In Europe, the FTSE 100 was marginally up 0.81%. The CAC 40 and DAX gained 1% each.

Infosys slipped 2.3%. The company has posted a net profit of Rs 3606 crore for the quarter ended September 30, 2016 as compared to Rs 3398 crore for the quarter ended September 30, 2015.

L&T rallied 2.5% to Rs 1472.50 on the BSE. L&T Construction has won a major order worth, Rs 3799 crore from the Dedicated Freight Corridor Corporation of India Ltd. (DFCCIL).

Lux Industries jumped 5.3% to Rs 715 on BSE after the company announced that the company’s rating for long term and short term bank facilities have been revised upwards by the rating agency, CARE.

Hindustan Construction Company soared 5.5%. HCC in joint venture with VCCL has won a Rs 367.72 crore order for construction of a safety tunnel in Manipur.

Reliance Communications Ltd gained 2.6% after the company announced the signing of a non-binding Term Sheet with Brookfield Infrastructure Group (Brookfield) in relation to the proposed acquisition of RCOM’s nationwide tower assets and related infrastructure by Brookfield.

Steel Strips Wheels Ltd zoomed 4.8% to Rs 768 after the company announced substantial increase in export orders for supply of Steel Wheels for VW Argentina’s requirements to 34000 wheels from an original order of 7000 wheels. Wheels are being supplied from SSWL’s Chennai plant.

Zee Entertainment Enterprises Ltd dropped 3.4% to Rs 528. Zee Entertainment Enterprises Ltd reached an agreement to buy Reliance Broadcast Networks Ltd, as per media reports. The companies are working on a deal structure, the report added.

Karnataka Bank jumped 3.4% to Rs 149.60. The bank has fixed 25 October as record date for the purpose of determining the shareholders eligible to apply for rights equity shares.

Hindustan Unilever Ltd slipped 2.3% to Rs 841. Hindustan Unilever Ltd plans to raise prices of some skincare products has affected sales in the September quarter, parent Unilever Plc said Thursday. The comment in Unilever’s third-quarter earnings presentation is in line with analysts’ forecasts that India’s largest consumer packaged goods firm by sales will post another quarter of tepid results.

Jammu & Kashmir Bank tanked 9% to Rs 68. Parvez Ahmed, Chairman and Chief Executive since October 6, told investors in a conference call on Thursday that the bank was looking to “deep clean” its balancesheet and aimed to take its provision coverage ratio (PCR) to about 90% over the next six quarters, from 50% currently. PCR is the amount of money a bank has kept aside for potentially bad loans.

Tata Consultancy Services advanced 1.6% to Rs 2366. TCS reported a profit after tax of Rs 6,603 crore for the September quarter. This was 4.51% qoq higher than the June quarter PAT of Rs 6318 crore the firm reported in the June quarter.

ONGC zoomed 2% to Rs 276. ONGC Ltd and Hong Kong-listed United Energy Group Ltd are among bidders for Bangladesh natural gas assets being sold by Chevron Corp, as per media reports.

Cox & Kings slipped 1.3%. Cox & Kings-owned Meininger Hotels has signed an agreement with Beni Stabili SIIQ to set up a 491-bed hotel in Milan, Italy.

The rupee was trading up 19 paise at 66.74 per US dollar.

Out of 1,398 stocks traded on the NSE, 473 declined and 879 advanced today.

Top 5 Nifty Gainers: ICIC Bank (6.39%), Axis Bank (1.79%), SBI (1.45%), NTPC (1.31%) and Coal India (0.75%)

Top 5 Nifty Losers: Bharti Airtel (-2.40%), Asian Paints (-1.44%), M&M (-1.26%), HDFC Bank (-1.18%) and Bajaj Auto (-0.90%)

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.