After having corrected in the past three consecutive trading sessions, the Indian stock market closed on a higher note on Wednesday ahead of expiry of September futures & options contracts on the NSE. The stock market oscillated between gains and losses in morning trade while it was only in the second half of the session that the market gained decisive upward momentum. Positive opening of European markets and a firm rupee partially supported the upmove in domestic equities. Nifty closed with a gain of 39 points at 8,745, while BSE Sensex ended with a gain of 69 points at 28,293.

On the global front, Asian stocks closed on a mixed note. Hong Kong’s Hang Seng advanced 0.20%, China’s Shanghai Composite ended marginally lower, while Japan’s Nikkei slipped 1.3%.

European stocks rose with investor sentiment buoyed by a rally in the banking sector. The FTSE 100 is up 0.63% while the CAC 40 and DAX have gained 0.8% each.

Mangalore Chemicals & Fertilizers jumped 6.5% to Rs.47.50 on the BSE. The company said in a notice to BSE that its shareholders have rejected the proposal of transaction with Zuari Agro Chemicals Ltd.

Mphasis fell 3.3% to Rs.521. The company has announced a dividend of Rs.20 a share.

Nandan Denim climbed 12.6% on its plans to issue 50 lakh convertible warrants on preferential basis to foreign investors at Rs.200 each including premium of Rs.190.

Motherson Sumi Systems gained 1% after the Reserve Bank of India allowed foreign investors to hike their stake in the company to up to 30% from 24% earlier.

Dilip Buildcon gained 2.6%. The National Highways Authority of India (NHAI) has awarded four laning of 127 km of national highway stretch between Lucknow and Sultanpur to Dilip Buildcon. The project would be constructed at a cost of Rs.2,845 cr.

Mahindra and Mahindra inched up 0.60% after the company having announced the launch of the Intelli-Hybrid technology variant of its popular SUV Scorpio for the Delhi and NCR market at a starting price of Rs.9.35 lakh (ex-showroom).

Coal India slipped 1% to Rs.329. Its buyback offer will open next week on October 3, 2016 and would remain open till October 18. The company plans to buy back 1.7% (10.89 cr) fully paid up equity shares at Rs.335 per share totaling Rs.3,650 cr.

Karur Vysya Bank gained 1.4% to Rs.476. The bank seeks members’ approval for sub-division of shares in the ratio of 1:5.

Ahluwalia Contracts (India) advanced 1% after the company having received new order aggregating Rs.151.39 cr from Bharat Electronics .

Jindal Stainless zoomed 9% after the company received approval from Orissa Industrial and Infrastructure Development Corporation (IDCO) vide its letter dated 24 September 2016 conveying its no objection for effecting the transfer or right to use of the land on which the Hot Strip Mill and the Coke Plant of the company are located, to Jindal United Steel and Jindal Coke, respectively.

Balaji Telefilms jumped 8.8% after after the Board of Directors of the company at its meeting held on 27 September 2016 having considered and approved a composite scheme of arrangement between the company and its wholly owned subsidiaries viz. Balaji Motion Pictures and Bolt Media and their respective shareholders and creditors.

Vivimed Labs has soared 9.7% to Rs.112.65 after investor Ashish Kacholia acquired nearly two percentage point stake in the company through open market.

Federal Bank rallied 4.2% to Rs.75.50 after a huge block deal. Around 6.50mn shares of the bank changed hands in a single block deal.

The rupee was trading up by 2 paise at 66.46 per US dollar.

Out of 1,847 stocks traded on the NSE, 575 declined and 1,033 advanced today.

Top 5 Nifty Gainers: ONGC (2.13%), GAIL (1.65%), Reliance Ind. (1.48%), Hero Motocorp (1.24%) and Bajaj Auto (1.24%)

Top 5 Nifty Losers: Bharti Airtel (-0.82%), Hind. Unilever (-0.47%), Wipro (-0.46%), Dr. Reddys Lab (-0.34%) and ICICI Bank (-0.31%)

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The Indian stock market ended in the red as indices extended losing streak to third consecutive trading session on Tuesday. The Nifty fell below 8,700 for the first time in 9 sessions. After starting off on a positive note markets remained subdued in the first half, however as the day progressed selling pressure accentuated. Weak global cues and profit booking weighed on the domestic markets. Nifty closed with a loss of 16 points at 8,706, while BSE Sensex ended with a loss of 71 points at 28,224.

On the global front, Asian stocks closed mixed on Tuesday. Nikkei index and China’s Shanghai Composite ended marginally higher, while Hong Kong’s Hang Seng edged higher by 1%.

In Europe, the FTSE 100 was trading marginally down. The CAC 40 and DAX dipped over 0.50% each.

Yes Bank gained 1% after the bank raised Rs.330 crore (approximately $50 million equivalent) through the issue of 7-year Green Infrastructure Bonds to FMO, the Dutch Development Bank, on a private placement basis.

Coal India closed marginally lower at Rs.332. The company said in a notice to BSE that its share buyback offer will open on 3 October to 18 October.

Bank of India slipped 1.1% to Rs.116.50. Bank of India has sold 18% stake in the insurance joint venture Star Union Dai-ichi Life Insurance Company Ltd (SUD) to its Japanese partner.

IRB Infrastructure Developers gained 1% to Rs.257 after receiving a letter of award from the National Highways Authority of India (NHAI) for the Rs.2,100 crore highway project in Rajasthan and Gujarat.

Pfizer slipped 1%. Pfizer has completed the process of transferring four products to Piramal Enterprises after getting necessary regulatory approvals.

BPCL dropped 1.7% to Rs.610. BPCL Kochi Refinery is all set to become a world-class refinery with crude oil processing capacity of 15.5 MMTPA, Union Minister Dharmendra Pradhan said.

8K Miles Software Services Ltd jumped 2.7%. 8K Miles Software has informed BSE that the Board of Directors of the Company has fixed October 13, 2016 as the record date for the purpose of ascertaining the eligibility of the shareholders entitled for stock split & free share issue.

Suven Life Sciences inched up 1% after the company was granted two product patents, one each in India and Japan, for the molecules to be developed for the treatment of neuro-degenerative diseases.

The rupee was trading up 13 paise at 66.46 per US dollar.

Out of 1,461 stocks traded on the NSE, 806 declined and 597 advanced today.

Top 5 Nifty Gainers: GAIL (1.29%), Dr. Reddys Lab (0.95%), SBI (0.90%), Bharti Airtel (0.88%) and HDFC (0.80%)

Top 5 Nifty Losers: Reliance Ind. (-1.59%), Wipro (-0.63%), Infosys Ltd. (-0.52%), Hind. Unilever (-0.45%) and TCS (-0.44%)

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The Indian equity market ended in the red as indices extended their losing streak to a second consecutive trading session on Monday. The domestic market extended its fall and hit a fresh intra day low in afternoon trade as European stocks declined in early trade there. Nifty closed with a loss of 109 points at 8,723, while BSE Sensex ended with a loss of 374 points at 28,294.

On the global front, Asian Markets closed in a negative territory. Japan’s Nikkei dropped 1.3%. Hong Kong’s Hang Seng ended in red.

European markets opened sharply down on Monday following steep losses in Asia and also sell-offs in oil and gas shares and German lender Deutsche Bank AG pushed the market’s benchmark toward its worst performance in almost three months.

The FTSE 100 was trading down by 1.25% while, DAX and the CAC 40 were trading lower around 1.9% each.

Marksans Pharma jumped 11% to Rs.53 after the company announced that USFDA has granted approval for an Abbreviated New Drug Application (ANDA) for Loratadine Liquid Filled Capsules 10 mg.

Vardhman Textiles Ltd climbed 3% to Rs.1,071 after the company said in a notice to BSE that it will buyback 6.13 million shares at Rs.1,175 per share or 13% premium to Friday’s closing price.

Muthoot Finance Ltd dropped 1.1% to Rs.368 after a huge block deal in which around 3.06 million shares of the company changed hands.

IFCI Ltd slipped 5.6% to Rs.29 after news reports said that the Supreme Court has ordered the Union government to ensure proper inquiry into the financial irregularities of the Industrial Financial Corporation of India, as per media reports.

Coal India inched up 1.1% to Rs.332.65. Coal India has asked for alternative coal blocks from the Mozambique government since it did not find any commercially viable reserves in the block it was allotted a few years ago.

ABG Shipyard advanced 0.48%. Lenders led by State Bank of India and ABG Shipyard have hired investment bank Rothschild to find a buyer for a majority stake in the company as they struggle to save Rs 16,000 crore worth of loans given to it, as per media reports.

ONGC tanked 3.8% to Rs.250.50. The Board of state-owned ONGC has approved the signing of a preliminary agreement for buying a stake in the Gujarat government’s firm GSPC’s KG basin gas block.

Canara Bank gained 0.60% on the BSE. The bank said it will raise additional equity share capital not exceeding Rs.1,128 crore, including premium, by way of a rights issue, said a report.

NHPC closed down 2.1% after the government has put off the proposed share sale of NHPC to its employees citing ‘technical reasons’. Earlier, the Centre had said it plans to sell 6.288 crore shares of Rs.10 each to eligible employees at a discounted price of Rs.20.66 a share.

Rain Industries soared 4.7% after Rain Cements commenced operations of a waste heat recovery-based power plant to generate up to 7 MW of gross electrical energy from waste heat at the Kurnool plant in Andhra Pradesh.

Dilip Buildcon Ltd gained 1% to Rs.237 after the company informed BSE about the receipt of Letter of Award from National Highway Authority of India (NHAI) dated 22nd September, 2016 to the Company for the project Chichra to Kharagpur in the State of West Bengal under EPC mode.

The rupee was trading lower by three paise at 66.68 per US dollar.

Out of 1,460 stocks traded on the NSE, 611 declined and 791 advanced today.

Top 5 Nifty Gainers: TCS (1.39%), Infosys Ltd (1.09%), Reliance Ind. (0.91%), Coal India (0.83%) and Sun Pharma (0.78%)

Top 5 Nifty Losers: Bharti Airtel (-1.36%), ICICI Bank (-1.22%), ONGC (-0.96%), L&T (-1.42%) and BHEL (-0.88%)

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