Indian shares declined for a third consecutive session today. Weak global cues and profit booking weighed on the domestic bourses. The domestic market started off on a positive note but then slipped into the red. It then remained in the negative zone throughout most of today’s session and closed with a marginal loss. Nifty closed with a loss of 12 points at 8,698, while BSE Sensex ended with a loss of 45 points at 28,061.

On the economy front, the Reserve Bank of India (RBI) has proposed widening the definition of a branch to make it easier for banks to meet the norm of opening 25% banking outlets in un banked rural centres.

On the global front, Asian markets closed on a tentative note, following a warning from the IMF that a Fed rate hike will create a major disorder across Asian markets. As a result, the Hang Seng and Nikkei 225 closed lower. Markets in China remained closed for the Golden Week public holidays.

European markets remained subdued over speculation on curtailment of stimulus measures by the European Central Bank (ECB).The CAC 40 and DAX and FTSE are trading in red, while FTSE 100 gained 1%. The pound sterling slumped to a three-decade low, raising eyebrows across financial markets.

South Indian Bank tanked 3.2% to Rs.23.95 on the BSE. The bank has posted a net profit of Rs.110.5 cr for the quarter ended September 30, 2016 as compared to Rs.93.4 cr for the quarter ended September 30, 2015.

Bombay Dyeing & Manufacturing Company climbed 2.6% after a block deal. Around 20.5 lakh shares were traded in a multiple block at Rs.57.40-59.10 on the NSE and BSE.

IDBI Bank rallied 3% to Rs.72 on the BSE. The government is looking to get IDBI Bank’s stalled disinvestment plan moving again, and has instructed the lender’s Management to bring its stake down to 52%.

Telecom stocks closed lower by 1% on the BSE. India’s ‘big bang’ spectrum auction ended with a whimper on Thursday, with the Centre receiving bids worth about Rs.65,789.12 cr, just about 40% of the total worth of spectrum that was placed on the block.

Reliance Industries closed lower on the BSE after its telecom unit Reliance Jio acquired 214.6 MHz spectrum in three bands for Rs.13,672 cr. Idea Cellular ended flat after acquiring 349.2 MHz spectrum in four different bands for Rs.12,798 cr. The company can now provide 4G services in 20 circles. Bharti Airtel slipped 1% to Rs.319 after it acquired 173.8 MHz spectrum in three bands, worth Rs.14,244 cr.

Steel Strips Wheels Ltd climbed 3.2% after the company bagged order for supply of 115,000 caravan steel wheels for European Union trailer market, according to its exchange filing.

UCO Bank slipped 0.53% after the bank said it will sell 7.17 cr shares to LIC on a preferential basis, which may fetch about Rs.270 cr to the bank.

DHFL slipped 1% after the company slashed lending rate by 0.2% to 9.35% to cash in on the festival fervour.

ABG Shipyard ended marginally lower on the BSE. The company has decided to divest its subsidiary Western India Shipyard Ltd and will invite bids from prospective investors.

Tata Steel soared 4.4% to Rs.406. Tata Steel on Thursday said its sales rose by 12% to 2.62 mn tonnes (MT) in the quarter ended September 30, 2016.

Grasim Industries advanced 1.6%. The company said that as part of its proposed merger scheme, 10 shares of Aditya Birla Nuvo Ltd (ABNL) will get 15 shares of the firm.

Orient Cement dropped 6.6% to Rs207. Orient Cement said it will acquire two cement plants of debt-laden JP Group for Rs.1,950 cr in an all-cash deal, a move that will help the CK Birla Group firm enter central and eastern regions of the country.

Jaiprakash Power Ventures zoomed 2.2% to Rs4.66. This was on news of the company considering and accepting the recommendations of the Committee of Directors (for restructuring) as well as of the Audit Committee for acceptance of Offer of Orient Cement Ltd for acquisition of 2 Million Ton Per Annum Nigrie Cement Grinding Unit as a going concern basis at a consideration linked to a total enterprise value of Rs.500 cr subject to mutually agreed adjustments, execution of definitive agreement and all such approvals, as might be required.

The rupee was trading down 3 paise at 66.72 per US dollar.

Out of 1,497 stocks traded on the NSE, 755 declined and 684 advanced today.

Top 5 Nifty Gainers: Tata Steel (2.12%), CIPLA (2.11%), Asian Paints (1.90%), Infosys Ltd (1.68%) and GAIL (1.16%)

Top 5 Nifty Losers: Bharti Airtel (-1.25%), ONGC (-1.10%), HDFC (-1.03%), Adani Ports & Sez (-0.95%) and NTPC (-0.91%)

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The Indian equity market continued on yesterday’s lackluster note and lost further ground today. After opening on a flat note, indices remained under pressure and slipped lower in the second half. Weak global cues, coupled with lower crude oil prices, rupee and profit booking weighed on the domestic markets. Nifty closed with a loss of 34 points at 8,710, while BSE Sensex ended with a loss of 115 points at 28,106.

On the global front, Asian stocks traded firm with the Hong Kong’s Hang Seng and Nikkei 225 each advancing 0.56%. Mainland Chinese markets remained closed for the National Day holiday.

European markets remained subdued over speculation on curtailment of stimulus measures by the European Central Bank (ECB).The CAC 40, DAX and FTSE 100 each have slipped 0.3%.

Jaiprakash Power Ventures climbed 10% to Rs.4.45 on the BSE. The company has informed BSE that a meeting of the Board of Directors of the company will be held on October 6 to consider the recommendations of the Committee of Directors (for Restructuring) regarding proposals of restructuring including divestment of one or more units and to review the progress made in the reduction of company’s debt.

Indian Oil Corporation soared 5.4% to Rs 649.45 after fixing October 19 as the record date for the purpose of ascertaining the eligibility of shareholders, for issuance of bonus shares in the ratio of 1:1 i.e. one new bonus equity share of Rs 10 each for every one existing equity share of Rs 10 held.

Grasim Industries zoomed 2% to Rs 1,008 on the BSE. The company has fixed October 8, as the Record Date for the purpose of sub-division of each equity share of the company having a face value of Rs 10 each fully paid-up into 5 equity shares of face value of Rs 2 each fully paid-up.

Goa Carbon jumped 16% after the company reported a net profit of Rs 4.62 cr for the quarter ended September 30, 2016.

Transformers and Rectifiers (India) surged 8.7% after the company said it had entered into a joint venture (JV) agreement with Chinese firm Jiangsu Jingke Smart Electric Company.

Goodyear India soared 13% on the BSE in intra-day trade, after Goldman Sachs bought stake in tyre maker through the open market.

Sagar Cements advanced 1.5% after the company reported cement production and sales figures for September 2016. The company’s sales were up by 29% on a consolidated basis and lower by 15% on a standalone basis.

NMDC rallied 4% after the company fixed prices of Lump Ore at Rs 2,100/WMT, while the prices of Fines have been fixed at Rs 1,760/WMT. The Ore prices are excluding Royalty, DMF, NMET, Cess, Forest Permit Fee etc.

Phillips Carbon Black advanced 2% to Rs 275 after the Board approved amalgamation of Goodluck Dealcom unit with self.

Bosch gained 1.5% after the company expressed plans to buy back 8.78 lakh shares at a price of 23,000 a share. Bosch had fixed September 27 as the record date.

Jindal Steel & Power tanked 5% to Rs 79.20. The company has defaulted on interest repayments to its bondholders due on September 30, 2016.

The rupee was trading down by 17 paise at 66.67 per US dollar.

Out of 1,501 stocks traded on the NSE, 922 declined and 535 advanced today.

Top 5 Nifty Gainers: Tata Motors (1.77%), Axis Bank (1.14%), M&M (0.78%), Tata Steel (0.77%) and Lupin Ltd. (0.76%)

Top 5 Nifty Losers: Bajaj Auto (-1.37%), HDFC (-1.17%), Asian Paints (-1.12%), Cipla (-1.04%) and Dr Reddys Lab (-1.03%)

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Indian equities snapped their three-day winning streak; the market was weighed down on profit-booking particularly in IT, banking and technology stocks. Nifty closed with aloss of 25 points at 8,743. It opened at 8,806, while BSE Sensex ended with a loss of 114 points at 28,221.

On the global front, Asian stocks traded firm with the Hong Kong’s Hang Seng and Nikkei 225 each advancing 0.5%. Mainland Chinese markets remained closed for the National Day holiday.

European stocks are trading soft as markets digest hawkish comments from US Federal Reserve officials. The CAC 40, DAX and FTSE 100 each have slipped 0.48%.

HDFC slipped 0.61% to Rs.1,421. The company announced that income from dividend rose 7.3% yoy to Rs.456 cr in Q2FY2017.

Adani Transmission rallied 7.4% to Rs.43.05 on the BSE. Reliance Infrastructure said it has signed a binding term sheet with Adani Transmission for a sale of 100% stake in its transmission assets.

Alembic Pharmaceuticals zoomed 3% on the BSE. The company’s Formulation Facility located at Panelav has received Establishment Inspection Report (EIR) from US Food & Drug Administration (USFDA) for the inspection carried out in March, 2016.

ICICI Bank ended lower by 1% at Rs.255 on the BSE. ICICI Bank announced a 0.05% reduction in its marginal cost of funds-based lending rate to 9.05%.

Bharat Forge erased morning losses and closed marginally higher on the BSE. A media report stated that its class 8 truck orders in U.S. fell by 27% to 13,800 units in September 2016.

NBCC gained 1.4% to Rs.280 after the company received orders worth Rs.1,117 cr in September. The company said the order includes a Rs.440 cr hospital construction contract from the Labour Ministry and a Rs.270 cr contract for construction of the University Grants Commission building complex.

Punjab & Sind Bank slipped 0.5% after the bank said it will raise Rs.500 cr by issuing Basel III-compliant bonds through a private placement.

Bhushan Steel advanced 1%. The company said its shareholders have approved the company’s proposal to raise up to Rs.1,155 cr through issue of redeemable cumulative preference shares.

Jubilant Life Sciences slipped 0.41% to Rs.645.The company announced that its wholly own subsidiary Jubilant Pharma Ltd, through one of its units Jubilant DraxImage Inc. Montreal Canada (JDI), has received approval from TGA, Australia for Lyophilized kit for the preparation of Technetium 99m Macro-Aggregated Albumin (MAA) Injection.

The rupee was trading down by 9 paise at 66.54 per US dollar

Out of 1,406 stocks traded on the NSE, 574 declined and 777 advanced today.

Top 5 Nifty Gainers: GAIL (2.72%), Reliance Ind. (2.32%), BHEL (1.68%), ONGC (1.67%) and Hind. Unilever (1.07%).

Top 5 Nifty Losers: Axis Bank (-1.19%), Infosys Ltd. (-0.69%), Adani Ports & Sez (-0.32%), Wipro (-0.29%) and Coal India (-0.20%)

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.