Nifty shuts below 8,700 mark

The BSE Sensex ended with a loss of 88 points at 28,091. The BSE Sensex opened at 28,159 touched an intra-day high of 28,211 and low of 28,014.

The NSE Nifty closed with a loss of 18 points at 8,691. The NSE Nifty opened at 8,722 hitting a high of 8,723 and low of 8,663.

The Indian equity market has opened in red with focus in Tata Group stocks. The domestic market is trading in a negative zone. The Sensex and Nifty dragged down by the stocks of Tata Group companies after Cyrus Mistry was ousted as chairman of salt-to-software conglomerate Tata Sons, in a move that caught markets by surprise.  

The S&P BSE Sensex is trading at 28,085 down 94 points, while NSE Nifty is trading at 8,683 down 26 points.

The BSE Mid-cap Index is trading down 0.35% at 13,538 whereas BSE Small-cap Index is trading UP 0.03% at 13,506.

ICICI Bank, Adani Ports, Cipla, Sun Pharma, Axis Bank, Lupin and Maruti Suzuki are among the gainers, whereas Tata Steel, HDFC, HDFC Bank, TCS, NTPC, GAIL and Bharti Airtel are losing sheen on BSE.

Some buying activity is seen in pharma, banking, capital goods and industrial and energy sectors, while oil & gas, telecom, metal and utilities are showing weakness on BSE.

The INDIA VIX is up 1.62% at 14.5650. Out of 1,885 stocks traded on the NSE, 904 declined, 689 advanced and 292 remained unchanged today.

A total of 51 stocks registered a fresh 52-week high in trades today, while four stocks touched a new 52-week low on the NSE.

Tata Group stocks are trading 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% while Tata Metaliks tumbled 3%.

Dr Reddys Laboratories inched up 0.63%. The company has posted a net profit after tax, minority interest and share of profit of associates of Rs 309 crore for the quarter ended September 30, 2016 as compared to Rs 775 crore for the quarter ended September 30, 2015.

Idea Cellular dipped 2.3% 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.

HDFC Bank is trading down by 1% at Rs 1255. The bank will announce its Q2 numbers today.

ONGC slipped 1%. The board of Oil and Natural Gas Corporation will on Thursday consider issuing a bonus share to increase liquidity ahead of government disinvestment.

Bharti Infratel zoomed 3.6%. The company posted 31% increase in consolidated net profit at Rs 776.6 crore for the September quarter of the current financial year.

GTL Infra tanked 4.8% to Rs 5.35. New Avenue Brookfield-Reliance Infratel, Canadian pension fund and Abu Dhabi investor show interest in co's 27,000 telecom towers that will be auctioned to convert Rs 3,300-crore debt into equity under strategic debt restructuring process, as per media reports.

Reliance Capital slipped 1%. Reliance Capital reported a consolidated net profit of Rs 253 crore for the second quarter, up 1% from the year-ago period, as it made provision to beef up reserves in general insurance business.

Tata Metaliks slumped 3.3%. The company said its consolidated net profit rose by 7% to Rs 22 crore for the quarter ended September 30, 2016.

Adani Transmission tanked 2.4% after the company reported a 38.6% drop in consolidated net profit at Rs 99.5 crore in the quarter ended September 30.

Mahindra CIE Automotive Ltd gained 1.5%. The September quarter net profit Rs 14.5 crore compared with Rs 9.4 crore last year. The September quarter total income from operations Rs 443 crore compared with Rs 432 crore last year.

Sasken Communication Technologies jumped 4.8%. The board of directors of Sasken Communication Technologies will meet on October 27 to consider a buyback of fully paid-up equity shares, and decide the quantum and mode of acquisition and other related matters.

Indiabulls Real Estate slipped 1.3% after the company reported its consolidated net profit at Rs 141.6 crore for the quarter ended September. Total revenue for the quarter rose 15 per cent from a year ago to Rs 911.9 crore, the company said in a release.

The rupee opened lower by eight paise at 66.93/$ as against the previous close of 66.85/$.

Asian markets opened in the green as overnight US indices rallied as markets looked beyond earnings & fresh merger activity re ignited the bulls.

The PNB Housing Finance IPO which saw encouraging response will hit the market today. Geo-political issues remain in focus after militants attacked a police academy in Pakistani city of Quetta killing dozens of cadets.

Nifty breaks 8700, Sensex falls over 100 pts; HDFC twins drag

The 30-share BSE Sensex was down 127.57 points at 28051.51 and the 50-share NSE Nifty fell 34.65 points to 8674.30. The broader markets too remained under pressure on weak breadth. About 1169 shares declined against 862 advancing shares on the BSE. 

HDFC, HDFC Bank, HUL, Bharti Airtel, NTPC and GAIL were down more than 1 percent whereas ICICI Bank, Axis Bank, Sun Pharma and Maruti were gainers in morning. 

Tata Group stocks remained under pressure after Tata Sons sacked Cyrus Mistry as chairman on Monday. Tata Steel, TCS and Tata Motors were down 1-2 percent.

Bharti Airtel, the country's largest telecom operator in terms of subscribers, is expected to report a 28 percent degrowth in July-September quarter profit at Rs 1,050 crore QoQ on forex loss due to Naira devaluation & interest expenses.

 Revenue is seen falling 0.2 percent quarter-on-quarter to Rs 25,495 crore in Q2. It is traditionally a weak quarter for telecom companies. Hence, analysts say India Volumes may decline due to seasonality, though some pricing pressure may offset the volume decline.

Nifty holds 8700 mark; Auto stocks drag

The S&P BSE Sensex is trading at 28,174 down mere five points, while NSE Nifty is trading at 8,705 down four points.

The rupee opened lower by eight paise at 66.93/$ as against the previous close of 66.85/$.

Asian markets opened in the green as overnight US indices rallied as markets looked beyond earnings & fresh merger activity re ignited the bulls.

The PNB Housing Finance IPO which saw encouraging response will hit the market today. 

Geo-political issues remain in focus after militants attacked a police academy in Pakistani city of Quetta killing dozens of cadets. 

Tata Group stocks will be in focus today 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.

Sensex ends up 102 points; ONGC up 4.5%

Closing Bell:

Finally, the BSE Sensex ended with a gain of 102 points at 28,179. The BSE Sensex opened at 28,157 touched an intra-day high of 28,257 and low of 28,076.

The NSE Nifty closed with a gain of 16 points at 8,709. The NSE Nifty opened at 8,710 hitting a high of 8,737 and low of 8,684.

Live Market:

The Indian equity market climbed along with Asian equities amid a retreat in crude oil prices.The domestic market turned flat after making a higher opening tracking positive trend among global peers.

The S&P BSE Sensex is trading at 28,173 up 96 points, while NSE Nifty is trading at 8,715 up 22 points.

The BSE Mid-cap Index is trading up 0.32% at 13,646, whereas BSE Small-cap Index is trading up 0.73% at 13,531.

GAIL, ICICI Bank, Adani Ports, Power Grid, Maruti Suzuki and SBI are among the gainers, whereas Wipro, Bharti Airtel, Asian Paints, Axis Bank and Hero MotoCorp are losing sheen on BSE.

Some buying activity is seen in banking, power, oil & gas, utilities, finance and energy sectors, while IT, consumer durables, teck and telecom are showing weakness on BSE.

The INDIA VIX is up 1.57% at 14.0475. Out of 1,877 stocks traded on the NSE, 549 declined, 1,037 advanced and 291 remained unchanged today.

A total of 122 stocks registered a fresh 52-week high in trades today, while six stocks touched a new 52-week low on the NSE.

Asian markets opened flat with markets awaiting earnings as strength in the US $ & rise in bond yields gets factored into most markets.

The market would be focused on earnings even as investors pay close attention to FII inflows and currency movement. While FIIs have largely been offloading positions, domestic funds seem to be witnessing positive activity in investments.

The rupee opened lower by one paise at 66.89/$ as against the previous close of 66.88/$.

India's foreign exchange reserves declined by $1.506 billion to USD 366.139 billion in the week to October 14, the Reserve Bank said. Foreign currency assets (FCAs), a major component of the overall reserves, dipped by $1.486 billion to $340.908 billion. Gold reserves remained steady at $21.406 billion.

Sensex, Nifty trade flat; Banking, Oil & Gas stocks lead

The Indian equity market climbed along with Asian equities amid a retreat in crude oil prices.The domestic market turned flat after making a higher opening tracking positive trend among global peers.

The S&P BSE Sensex is trading at 28,128 up 51 points, while NSE Nifty is trading at 8,704 down 11 points.

The BSE Mid-cap Index is trading up 0.08% at 13,613 whereas BSE Small-cap Index is trading up 0.60% at 13,513.

GAIL, ICICI Bank, Adani Ports, Power Grid, Maruti Suzuki and SBI are among the gainers, whereas Wipro, Bharti Airtel, Asian Paints, Axis Bank and Hero MotoCorp are losing sheen on BSE.

Some buying activity is seen in banking, power, oil & gas, utilities, finance and energy sectors, while IT, teck and telecom are showing weakness on BSE.

The INDIA VIX is up 1.73% at 14.0700. Out of 1,874 stocks traded on the NSE, 539 declined, 1,018 advanced and 318 remained unchanged today.

A total of 69 stocks registered a fresh 52-week high in trades today, while two stocks touched a new 52-week low on the NSE.

Asian markets opened flat with markets awaiting earnings as strength in the US $ & rise in bond yields gets factored into most markets.

The market would be focused on earnings even as investors pay close attention to FII inflows and currency movement. While FIIs have largely been offloading positions, domestic funds seem to be witnessing positive activity in investments.

The rupee opened lower by one paise at 66.89/$ as against the previous close of 66.88/$.

India's foreign exchange reserves declined by $1.506 billion to USD 366.139 billion in the week to October 14, the Reserve Bank said. Foreign currency assets (FCAs), a major component of the overall reserves, dipped by $1.486 billion to $340.908 billion. Gold reserves remained steady at $21.406 billion.

Nifty above 8700 mark

The S&P BSE Sensex is trading at 28,142 up 65 points, while NSE Nifty is trading at 8,710 up 16 points.

Asian markets opened flat with markets awaiting earnings as strength in the US $ & rise in bond yields gets factored into most markets.

The market would be focused on earnings even as investors pay close attention to FII inflows and currency movement. While FIIs have largely been offloading positions, domestic funds seem to be witnessing positive activity in investments.

The rupee opened lower by one paise at 66.89/$ as against the previous close of 66.88/$.

India's foreign exchange reserves declined by $1.506 billion to USD 366.139 billion in the week to October 14, the Reserve Bank said. Foreign currency assets (FCAs), a major component of the overall reserves, dipped by $1.486 billion to $340.908 billion. Gold reserves remained steady at $21.406 billion.

Nifty shuts below 8,700 mark; Metal stocks drag

The BSE Sensex ended with a loss of 53 points at 28,077. The BSE Sensex opened at 28,163 touched an intra-day high of 28,163.41 and low of 27,958.

The NSE Nifty closed with a mere six points loss at 8,693. The NSE Nifty opened at 8,709 hitting a high of 8,709.10 and low of 8,652.

Among the Nifty stocks, Idea Cellular, Tech Mahindra, Tata Power, HCL Tech and Dr Reddy's were among the gainers whereas Axis Bank, Hindalco, Ambuja Cement, ACC, Cipla and Reliance Industries were among the losers today.

The India VIX (Volatility) index was down 2.36% at 13.8300. Out of 1,505 stocks traded on the NSE, 716 declined and 740 advanced today.

The BSE Midcap and Smallcap indices closed higher.

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

On the global front, Japan’s Nikkei slipped 0.30%. Hong Kong’s Hang Seng and the Shanghai Composite closed in the green.

European stocks saw a mixed trade after the European Central Bank kept its policy rate unchanged after a monetary policy meeting. The FTSE 100 was trading up, DAX and the CAC 40 were trading lower around 0.5% each.

HCL Tech climbed 2% after the company posted a net profit after taxes, minority interest and share of profit/(loss) of associates of Rs 2015.6 crore for the quarter ended September 30, 2016 as compared to Rs 1739.8 crore for the quarter ended September 30, 2015.

Reliance Industries slipped 2.2%. The consolidated net profit grew by 43% to Rs 9,902 cr compared to Rs 6926 cr in the previous year. Petrochemicals EBIT grew by 35.5% to Rs 3417 cr .

Cipla slipped 2% after the pharma company informed BSE that the Supreme Court decided in favour of Union of India in an appeal filed against Cipla and others arising out of the judgement of the Honorable Allahabad High Court. The other petitions filed in the Bombay High Court on completely separate set of grounds related to alleged overcharged amounts are pending and are still subject to the interim stay granted by the Honorable Supreme Court in July 2016.

Wipro gained 1%. Wipro has signed a definitive agreement to acquire Appirio that creates next generation worker and customer experiences for a purchase consideration of USD 500 million. The company will announce its Q2 FY17 numbers today.

NBCC tumbled 4%. NBCC's share sale today garnered 1.54 times subscription from institutional buyers, who put in bids totalling more than Rs 2,700 crore.

Biocon zoomed 2.6%. The company posted 52% rise in net profit over the last year for the second quarter ended September 30, led by growth in its small molecules, biologics and research services.

Gulf Oil Lubricants gained 1.6%. The consolidated net profit grew by 25% yoy to Rs 30 cr against Rs 24 cr in the last quarter.

Praj Industries dropped 5.6%. The company reported that its revenue was 6.3% lower than the street estimate of Rs 219.6 cr. Moreover, net profit was 66.6% lower than the estimated figure of Rs 9.1 cr.

Sadbhav Infra slipped 1.9%.The company signed an EPC agreement worth Rs 283 crore for mainteance and repair works during the development period and construction for four projects with four subsidaries.

Kajaria Ceramics slumped 6.7%. The company posted net profit after taxes, minority interest and share of profit of associates of Rs 64 crore for the quarter ended September 30, 2016 as compared to Rs 59 crore for the quarter ended September 30, 2015.

GHCL slipped 5.3% after the company reported a 79% growth in net profit for the second quarter of the financial year. Net profit came in at Rs 90.3 crore against Rs 50.4 crore in the previous year. The company's EBITDA margins saw a growth of 25.4 percent from 21.2 percent in the year ago period.

Jyoti Structures jumped 8.5% after the company received an order from Transco CLSG for 225 kV Line worth $40.82 million.

Kalyani Steel tanked 6.1% to Rs 322 after the company reported a rise in net profit at Rs 37.6 crore against Rs 29.4 crore in the year ago period, its income from operations remained flat at Rs 330 crore. 

Unichem Labs dropped 6% after the company’s net profit fell 11% to Rs 20.5 crore as compared to Rs 23.1 crore in the same quarter last year. The company’s EBITDA margins dropped  from 11% to 10.8 percent. 

A total of 102 stocks registered a fresh 52-week high in trade today, whereas six stocks touched a new 52-week low on the NSE.

Nifty trades below 8,700 level

The Sensex and Nifty declined in opening deals tracking profit-booking in banking shares. At 12:04 PM, the S&P BSE Sensex is trading at 27,999 down 130 points, while NSE Nifty is trading at 8,664 down 35 points.

The BSE Mid-cap Index is trading down 0.07% at 13,551 whereas BSE Small-cap Index is trading up 0.09% at 13,430.

GAIL, Dr.Reddy's, TCS, Wipro, Maruti Suzuki and Bajaj Auto are among the gainers, whereas RIL, ONGC, HDFC, Tata Steel and Axis Bank are losing sheen on BSE.

Some buying activity is seen in realty, IT and teck sectors, while metal, banking, finance, energy and telecom are showing weakness on BSE.

The INDIA VIX is down 0.93% at 14.0325. Out of 1,878 stocks traded on the NSE, 813 declined, 742 advanced and 323 remained unchanged today.

A total of 77 stocks registered a fresh 52-week high in trades today, while five stocks touched a new 52-week low on the NSE.

The rupee opened lower by 9 paise at 66.89/$ as against the previous close of 66.80/$.

Sensex, Nifty flat in early trade

At 9:15 AM, the S&P BSE Sensex is trading at 28,163 up 33 points, while NSE Nifty is trading at 8,709 up mere nine points.

Asian markets opened mixed as overnight US$ rallied to near 6 month highs which saw oil prices correct & saw indices lose ground. The strength in the US$ was also aided by Euro hitting a new 3 month low as ECB chief Mario Draghi indicated no change in bond buy back extension & remained status quo. Weekend blues could see flat trade for today as most participants lighten up for the week ahead.

Nifty managed to close above 8700 & with banks, energy & metals leading the rally expect another attempt @ 8800 next week before expiry of derivative contracts on Thursday.

Reliance results above most estimates & a slew of earnings from heavyweights today could see intra day volatility rise. Rupee, bond yields & foreign flows would be the other key as Nifty retraces lost ground.

The European Central Bank maintained status quo on interest rates even as it struggles to raise growth and inflation. ECB President Mario Draghi maintained that the asset buying will not stop ‘abruptly.’ 

Sensex ends 145 points up

Closing Bell:

Finally, the BSE Sensex ended with a gain of 145 points at 28,130. The BSE Sensex opened at 28,032 touched an intra-day high of 28,213 and low of 28,031.57.

The NSE Nifty closed with a gain of 40 points at 8,699. The NSE Nifty opened at 8,693 hitting a high of 8,727 and low of 8,678.30.

Live Market:
The domestic market is trading higher amid positive global cues along with strong buying among financials and index heavyweight RIL. Banking stocks extend gains. Bank Nifty surges 1.5% or 287 points to 19,700. ICICI Bank was the top gainer from this space, up 4.8% to Rs 278.

The Indian stock market gained amid a rally in Asian markets as crude oil traded near a 15-month high following an unexpected drop in American crude oil stockpiles and ahead of the outcome of the European Central Bank's meeting.

The BSE Sensex rose 200 points while the broader Nifty50 moved above its crucial psychological level of 8,700 on the back of broad-based buying interest amid strong global cues.

At 2:43 pM, the S&P BSE Sensex is trading at 28,131 up 147 points, while NSE Nifty is trading at 8,715 up 57 points.

The BSE Mid-cap Index is trading up 0.24% at 13,585 whereas BSE Small-cap Index is trading up 0.65% at 13,438.

ICICI Bank, Adani Ports, SBI, HDFC, Axis Bank and Bajaj Auto are among the gainers, whereas ITC, HUL and HDFC Bank are losing sheen on BSE.

Some buying activity is seen in banking, telecom, finance, metal, consumer durables and realty sectors, while oil & gas is showing weakness on BSE.

The INDIA VIX is down 2.10% at 14.3050. Out of 1,885 stocks traded on the NSE, 617 declined, 984 advanced and 284 remained unchanged today.