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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The domestic equity markets started Tuesday’s trading session with a marginal decline led by profit booking, coupled with negative global cues as oil prices dipped and Chicago Fed President Charles Evans said that the Fed could raise short-term interest rates by three quarter-point moves by the end of 2017.

Tata Group stocks closed in a negative zone after Ratan Tata took back control of the Tata Group after Cyrus Mistry was abruptly removed as Chairman of the $100 billion coffee-to-steel business empire. Tata Steel fell 2.5%, TCS slipped 1.2% while Tata Metaliks tumbled 4.9%.

Nifty closed with a loss of 18 points at 8,691, while BSE Sensex ended with a loss of 88 points at 28,091.

On the global front, Asian stocks edged lower on Tuesday. Japan’s Nikkei closed gains at 0.75%. China’s Shanghai Composite and Hong Kong’s Hang Seng ended marginally lower.

European stocks were trading in green on Tuesday, ahead of economic data this week that is likely to influence policy of the world’s main central banks. The FTSE 100 is marginally up 0.43%. The CAC 40 and DAX gained 0.3% each.

Adani Ports & Special Economic Zone soared 9.4% on the BSE. The company has posted a net profit after tax, minority interest and share of profit of associates of Rs 1091 crore for the quarter ended September 30, 2016 as compared to Rs 677.6 crore for the quarter ended September 30, 2015.

IDBI Bank tumbled 3% after the bank posted a net profit of Rs 55.5 crore for the quarter ended September 30, 2016 as compared to Rs 119.5 crore for the quarter ended September 30, 2015.

HDFC Bank closed 1% lower at Rs 1250 on the BSE. The bank posted a net profit of Rs 3455 crore for the quarter ended September 30, 2016 as compared to Rs 2869 crore for the quarter ended September 30, 2015.

Adani Enterprises dropped 5% after the company posted a net profit aftex taxes, Minority Interest & Share of Profit / (Loss) of Associates of Rs 63 crore for the quarter ended September 30, 2016 as compared to Rs 298.7 crore for the quarter ended September 30, 2015.

Arvind jumped 12% to Rs 404 on the BSE. The company posted a net profit aftex taxes, Minority Interest & Share of Profit / (Loss) of Associates of Rs 72 crore for the quarter ended September 30, 2016 as compared to Rs 70.7 crore for the quarter ended September 30, 2015.

Federal Bank climbed 8.3% after the bank posted a net profit of Rs 201 crore for the quarter ended September 30, 2016 as compared to Rs 161.3 crore for the quarter ended September 30, 2015.

Bharti Infratel zoomed 2.4% after the company posted 31% increase in consolidated net profit at Rs 777 crore for the September quarter of the current financial year.

Idea Cellular dipped 2% after the company posted an 88% plunge in its consolidated net profit at Rs 91.46 crore in the September quarter due to higher expenses.

The rupee was trading up by one paise at 66.84 per US dollar.

Out of 1,543 stocks traded on the NSE, 884 declined and 593 advanced today.

Top 5 Nifty Gainers: Bharti Airtel (2.44%), Hero Motocorp (2.42%), Bajaj Auto (1.43%), Maruti Suzuki (1.35%) and M&M (1.19%)

Top 5 Nifty Losers: Axis Bank (-8.00%), ICICI Bank (-2.75%), Tata Motors (-2.31%), ITC Ltd. (-1.68%) and Asian Paints (-1.32%)

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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%)

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.