The BSE Sensex and NSE Nifty swung between gains and losses on Tuesday as concerns about earnings continued to weigh, although higher Asian shares supported sentiment. Sensex closed 31.44 points up at 26,590.59 and snapped its 6-day losing streak. Similarly, Nifty closed 9.90 points up 8,060.70.

Domestic shares have fallen for six consecutive sessions till Monday, after some disappointment over earnings, including at economy bellwether Larsen & Toubro. Sensex shed 911.66 points, or 3.31 per cent, in the past six trading sessions till Monday.

Gaurav Jain, director, Hem Securities, said, “Indices snapped its past losing streak on the back of strong global indices and improved core sector growth.”

Share price of Larsen & Toubro fell 1.17 per cent for the third consecutive session with disappointment over its earnings and outlook weighing on the stock.

Tilaknagar Industries shares closed 17.53 per cent up at Rs 27.15 after the company inked a pact with Scotland-based Three Stills Company to explore opportunities to distribute scotch whisky in the country.

In the 50-share index, NTPC, Power Grid, ACC, Mahindra & Mahindra and Hindalco gained between 1.60 per cent and 2.40 per cent. On the other hand, Asian Paints, Lupin, Tata Steel, Tata Motors, Adani Ports slid between 1.40 per cent and 1.95 per cent.

Sectorwise, the BSE Consumer Durables index declined the most, down 0.71 per cent, followed by BSE Capital Goods (down 0.54 per cent), BSE Realty (down 0.12 per cent) and BSE Bankex (down 0.11 per cent).

The BSE IT index and BSE Oil & Gas gained 0.91 per cent and 0.82 per cent, respectively.

Vinod Nair, head, fundamental research, Geojit BNP Paribas Financial Services, said, “It is possible that volatility will prevail till the outcome of the Bihar election. Exit poll results before the end of the week could provide some guidance before the actual outcome on November 8.”

Overall market breadth for the day remained evenly balanced as advances to declines ratio for Niftys stood at 24:25 for the day. Volumes for Nifty stocks stood lower at 1,365 lakh vis-à-vis 1,402 lakh logged in Monday’s trading session.

Companies such as Voltamp, Bajaj Hind, Neyveli Lignite, KSB Pumps, Pricol, Omaxe, SCI, Bata India, Punjab Chemicals, Canara Bank, JK Lakshmi, Sparc, Century Ply and JB Chem Pharma may announce their earnings on Wednesday.

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Markets through the day

3.30 pm: Markets ended a six-session losing streak on Tuesday as higher Asian shares supported sentiment though concerns about earnings capped gains. Sensex closed 31.44 points up at 26,590.59 while Nifty closed 9.90 points up 8,060.70.

3.21 pm: Sensex was up 31.80 points at 26,590.82. Foreign institutional investors (FIIs) have sold in three out of the previous six sessions, depriving markets of some momentum, after they had been heavy net buyers in October.

2.55 pm: Share price of  liquor maker Tilaknagar Industries jumped over 18 per cent after the company inked a pact with Scotland-based Three Stills Company to explore opportunities to distribute scotch whisky in the country.

The company has entered into an MoU with the Three Stills Company to explore opportunities to distribute scotch whisky in India, Tilaknagar Industries said in a regulatory filing.

2.38 pm: Meanwhile, Adani Power reported that its consolidated net loss for the September quarter narrowed to Rs 369.08 crore helped by higher sale of electricity. The net loss after taxes and minority interest stood at Rs 369.08 crore for the said quarter compared with Rs 798.71 crore a year earlier. The share price of Adani Power was down 2.53 per cent at Rs 30.80. The benchmark index Sensex was up 56.74 points at 26,615. Nifty was up 14.60 points at 8,065.40.

2.11 pm: Multiplex chain operator PVR reported 346.20 per cent rise in consolidated net profit at Rs 41.05 crore for the second quarter ended September 30. The company had reported a consolidated net profit of Rs 9.20 crore for the July-September quarter of last fiscal. The share price of PVR was down 2.12 per cent at Rs 843. Sensex was up 41 points at 26,600.

2.00 pm:  European stock markets fell on Tuesday, pegged back by a drop in the shares of British bank Standard Chartered and carmaker Volkswagen.

1.35 pm: The benchmark BSE Sensex wiped off their initial gains and was trading 40 points down at 26524. NSE Nifty was down 3.30 points at 8,047.

1.20 pm: The broader indices were trading in green; the BSE Midcap index was up by 0.29 per cent, while BSE Smallcap index was up by 0.50 per cent. The gaining sectoral indices on the BSE were Power up by 0.85 per cent, IT up by 0.81 per cent, TECk up by 0.54 per cent, Metal up by 0.54 per cent and Healthcare up by 0.23 per cent, while Capital Goods down by 0.33 per cent and Consumer Durables down by 0.42 per cent were the only losing indices on BSE.

12.52 pm: Shares of United Spirits were trading over 5 per cent up after the liquor major on Monday posted a net profit of Rs 929.3 crore for the second quarter ended September 30, 2015, on the back of Rs 870 crore share sale in United Breweries. Sensex was up 59.32 points at 26,618.

12.27 pm: Meanwhile, pharma major Lupin informed BSE that it has received final approval from the US drug regulator to market generic Aricept tablets used for treatment of dementia. In a separate filing, the company said it has also received final approval for its Blisovi 24 Fe Tablets from the US FDA to market a generic version of Warner Chilcott’s Loestrin24 Fe Tablets. Lupin shares were trading 0.83 per cent down at Rs 1,883.90 in the noon trade. Sensex was up 78 points at 26,637.

12.20 pm: The BSE Bankex was up 0.48 per cent at 19,873.36. According to Fitch, Indian banks’ stressed asset ratio to improve marginally to 10.9 per cent in 2015-16 from 11.1 per cent in 2014-15. Performance of large private banks significantly superior despite recent asset-quality pressures.

12.06 pm: Brokers said value-based buying in bluechips after recent losses and core sector growth rising to 4-month high of 3.2 per cent in September buoyed trading sentiments. Sensex was up 121.40 points at 26680.55.

11.30 am: Sun Pharmaceutical Industries shares were trading 1.22 per cent up at Rs 876.05 after the drug major on Monday said that it has completed acquisition of the US-based eyecare firm InSite Vision. Sensex was trading 123.72 points up at 26,682.87. NSE Nifty was trading 35.65 points up at 8,086.45.

10.57 am: United Spirits share price soared 5.34 per cent after the liquor major on Monday posted a net profit of Rs 929.3 crore for the second quarter ended September 30, 2015, on the back of Rs 870 crore share sale in United Breweries Ltd. Sensex was trading 105.98 points up at 26,665.13, NSE Nifty was trading 26.85 points up at 8,077.65.

10.37 am: After gaining over 6 per cent on Monday, the share price of Reliance Communications (RCOM) jumped further 1.69 per cent up at Rs 81.25. Reliance Communications on Monday announced the signing of definitive documents for demerger of Sistema’s Indian wireless business, carried on by Sistema Shyam Teleservices (SSTL) under the MTS brand, into RCOM. Nifty was trading 35.50 points up at 8,085.30. Sensex was up 127 points at 26,686.

10.13 am: Coffee Day Enterprises (CDEL) shares were trading 3.13 per cent up at Rs 278.60. The share price of CDEL plummeted nearly 18 per cent on its debut on Monday, making it the worst opening for a company listing on the bourses in calendar 2015.

10.07 am: Amtek Auto shares jumped over 12 per cent in the morning trade on Tuesday after the company informed BSE that it has appointed Morgan Stanley as advisors to assist in the group’s debt reduction plan. At 10.07 am, Amtek Auto shares were trading 12.79 per cent up at Rs 46.65. Sensex was up 96 points at 26,655.

9.54 am: The rupee recovered by 19 paise to 65.40 against the dollar in early trade on fresh selling of the American currency by exporters and banks. The BSE IT index and BSE Healthcare index were up 0.68 per cent and 0.43 per cent, respectively. 

9.28 am: Share price of SML Isuzu jumped over 1 per cent in the early trade on Tuesday after the company on Monday reported 41.51 per cent rise in October sales. The company has sold 784 vehicles during October, 2015 against 554 vehicles sold in October, 2014. Sensex was up 113 points at 26,672.28.

9.15 am: The BSE Sensex and NSE Nifty opened in green on Tuesday on the back of firm global markets. Sensex opened 101.56 points up at 26,660.71. Nifty opened 35.55 points up at 8,086.35.

Companies such ABB, Adani Power, Den Networks, Indian Oil Corporation, PFC, Power Grid, PTC, PVR, Reliance Power, Tech Mahindra, Nesco, Tribhovandas Bhimji Zaveri may announce their earnings on Tuesday.

Share price of Eros International jumped 10 per cent in the early trade on Monday after the company said that it has engaged a US-based law firm to conduct an independent internal review in the wake of an anonymous campaign spreading “false and malicious information” that has negatively impacted the company’s share prices.

Asian share markets crept ahead on Tuesday after the benchmark for US tech stocks hit its highest in 15 years, while a holiday in Japan kept currencies tethered within recent tight ranges.

The Dow ended Monday with gains of 0.94 per cent, while the S&P 500 added 1.19 per cent and the Nasdaq rose 1.45 per cent to its highest close since 2000.

Back home, Sensex and Nifty declined 97.68 points and 15 points at 26559.15 and 8050.80, respectively, on Monday.

The FIIs as per Monday’s data were net sellers in equity and in debt segments both, according to data released by the NSDL.

In equity segment, the gross buying was of Rs 3,413.48 crore against gross sell of Rs 4,776.42 crore. Thus, FIIs stood as net sellers of Rs 1,362.94 crore in equities.

In the debt segment, the gross purchase was of Rs 323.32 crore with gross sales of Rs 606.54 crore. Thus, FIIs stood as net sellers of Rs 283.22 crore in debt.

Indian rupee ended weaker against dollar on Monday on account of sustained demand for dollar from banks and importers despite weakness in American currency overseas. The rupee closed at 65.59, 33 paise weaker from its previous close of 65.26 on Friday.

(With inputs from agencies)