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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The Indian stock market ended with smart gains on Tuesday as the Sensex and Nifty hit its highest level since October 13, 2016. The Nifty Bank index, which gained 2.2%, was the top performing sectoral gauge led by ICICI Bank. This was the indices biggest single day jump since May 25 of this year. Nifty closed with a gain of 158 points at 8,678, while BSE Sensex ended with a gain of 521 points at 28,051.

On the global front, Asian stock markets rose on Tuesday ahead of China’s release of quarterly growth data and a policy meeting of the European Central Bank later in the week. Japanese shares recovered from a weak start to end modestly higher ahead of the earnings season starting later this week. Hang Seng and Shanghai Composite closed 1% each, while Nikkei 225 closed marginally higher.

European shares were trading in green, up by over 1%.

Cairn India inched up 1.3% to Rs 224 on the BSE after the Delhi High Court dismissed its plea seeking permission to export crude oil extracted from Rajasthan block.

Mastek Ltd jumped 12% to Rs 148 on the BSE. The company reported a net profit of Rs 7.65 crore for quarter-ended September, compared to Rs 3.6 crore previous quarter.

Suven Life Sciences Ltd gained 1.5% after the company announced that it has granted one product patent from Europe and Israel corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and these Patents are valid through 2029 and 2030 respectively.

Bharat Financial Inclusion zoomed 3.5%. Bharat Financial Inclusion has issued Commercial Papers of an aggregate amount of Rs 100 crore on October 17, 2016, which have been rated ‘A1+’ by a leading rating agency. The aggregate Commercial Papers outstanding as on date is Rs 450 crore. Instruments with the aforesaid rating are considered to have a very strong degree of safety regarding timely payment of financial obligations. Such instruments carry the lowest credit risk.

Ashok Leyland rallied 3%. Ashok Leyland unveiled its Circuit series electric bus, the country’s first such indigenously made vehicle. Designed and engineered in India, it’s in line with the company’s vision for the future of mass mobility.

HDFC zoomed 3.8%. HDFC Life has reported 12% increase in net profit at Rs 464 crore during the first half of the 2016-17 financial year.

UltraTech Cement ended maginally higher. UltraTech Cement said its net profit in the quarter ended 30 September rose 25.27% from a year ago because of higher other income.

Logistics stocks closed higher on Tuesday ahead of GST council meeting that begins later in the day. A crucial three-day meeting of the Goods and Services Tax (GST) Council, comprising state finance ministers, starts today, 18 October 2016. The meeting is crucial because the government has set a deadline of 1 April 2017 for the GST rollout. GATI jumped 4.8%, while VRL Logistics gained 2%.

Zensar Technologies dipped 1.1% to Rs 998. The consolidated net revenue for the quarter grew by 2% QoQ to Rs 772 crore against Rs 757 crore in the previous quarter. The consolidated net profit declined by 2.5% QoQ to Rs 74.5 crore against Rs 76.5 crore of last quarter due to fall in other income.

Aarti Industries zoomed 5.3%. The company informed BSE that the Board of Directors approved the buyback up to 12,00,000 fully paid-up equity shares of face value of Rs 5 representing up to 1.44% of the total number of Equity Shares of the Company at a price of Rs 800.

Shriram EPC jumped 12.6% after the company bagged a Rs 61 crore contract for a water supply scheme in Bengaluru. The company has informed the BSE, that it has bagged the contract for a water supply scheme to Robertsonpet (KGF) City under the Centre’s Atal Mission for Rejuvenation and Urban Transformation scheme.

Indian Hume Pipe Company hit 20% upper circuit at Rs 804. Indian Hume Pipe Company Ltd has informed BSE that the Board of Directors will consider the proposal for issue of bonus shares by capitalization of free reserves at their meeting to be held on October 26.

USDINR trading marginally up 18 paise at 66.70 per US dollar.

Out of 1,492 stocks traded on the NSE, 356 declined and 1,093 advanced today.

Top 5 Nifty Gainers: BHEL (4.37%), Wipro (2.32%), GAIL (2.22%), Adani Ports & Sez (2.02%) and Lupin Ltd (1.57%).

Top 5 Nifty Losers: ICICI Bank (-1.78%), ITC Ltd (-1.59%), M&M (-1.28%), Hero Motocorp (-1.03%) and Tata Motors (-0.88%)

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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.