Key indices register modest losses

Losses for index heavyweight HDFC and stocks of state-run companies pulled key benchmark indices lower. The barometer index, the S&P BSE Sensex, fell 117.35 points or 0.43% at 27,244.61, as per the provisional closing data. The losses for the Sensex were higher in percentage terms than those for the 50-unit CNX Nifty index. The Nifty fell 27.65 points or 0.33% at 8,232.90, as per the provisional closing data. The Sensex and the Nifty remained in negative zone throughout the trading session.

Maruti Suzuki India nudged higher after reporting strong Q2 result. Axis Bank edged lower in choppy trade after announcing Q2 result. Lupin tumbled after reporting weak Q2 results. Vedanta slipped after announcing weak Q2 results. Shares of index heavyweight and housing finance major HDFC extended its post-result slide.

The market breadth indicating the overall health of the market was negative. On BSE, 1,443 shares fell and 1,269 shares rose. A total of 142 shares were unchanged. The BSE Mid-Cap index provisionally rose 0.16%. The BSE Small-Cap index provisionally rose 0.15%. Both these indices outperformed the Sensex.

The total turnover on BSE amounted to Rs 2793 crore, higher than turnover of Rs 2665.21 crore registered during the previous trading session.

In overseas stocks markets, Asian and European stocks dropped on caution ahead of the outcome of a monetary policy review from the US Federal Reserve which could provide clues about the timing of the Fed's first interest rate hike in a decade. The Fed is widely expected to leave benchmark interest rates unchanged near zero after the conclusion of a two-day monetary policy meeting tomorrow, 28 October 2015. US stocks mostly fell yesterday, 26 October 2015, as oil prices slumped.

Maruti Suzuki India advanced 2.99% to Rs 4,519 after net profit surged 42.1% to Rs 1225.60 crore on 13.2% growth in net sales to Rs 13574.80 crore in Q2 September 2015 over Q2 September 2014. Maruti attributed the strong financial performance to increase in sales volumes, material cost reduction initiatives and favourable foreign exchange movement.

Axis Bank edged lower in choppy trade after announcing Q2 results. The stock shed 0.56% at Rs 518.25. The stock hit high of Rs 528.30 and low of Rs 515.80 in intraday trade. Axis Bank's net profit rose 18.93% to Rs 1915.64 crore on 13.75% rise in total income to Rs 12001.01 crore in Q2 September 2015 over Q2 September 2014. The result was announced during market hours today, 27 October 2015.

The bank's ratio of net non-performing assets (NPAs) to net advances stood at 0.48% as on 30 September 2015, with the ratio remaining unchanged from the level as on 30 June 2015. The ratio of net NPA was 0.44% as on 30 September 2014. The bank's ratio of gross non-performing assets (NPAs) to gross advances stood at 1.38% as on 30 September 2015, with the ratio remaining unchanged from the level as on 30 June 2015. The ratio of gross NPA was 1.34% as on 30 September 2014.

Lupin tumbled after reporting weak Q2 results. The stock lost 5.43% at Rs 1,942. The stock hit high of Rs 2,023 and low of Rs 1,932.90 in intraday trade. On a consolidated basis, Lupin's net profit fell 35.1% to Rs 408.80 crore on 2% rise in net sales to Rs 3178.30 crore in Q2 September 2015 over Q2 September 2014. The result was announced during market hours today, 27 October 2015. Lupin attributed the weak financial performance to slowdown in drug approvals in the US and lack of material drug launches during the quarter.

Vedanta slipped after announcing weak Q2 results. The stock fell 0.43% to Rs 104.25. The stock hit high of Rs 106.40 and low of Rs 102.10 in intraday trade. On consolidated basis, Vedanta's attributable profit after tax before exceptional items fell 41% to Rs 974 crore in Q2 September 2015 over Q2 September 2014. Revenue fell 16% to Rs 16349 crore in Q2 September 2015 over Q2 September 2014.

Shares of index heavyweight and housing finance major HDFC extended its post-result slide. The stock dropped 2.75% at Rs 1,276.75. The stock had declined 2.09% to settle at Rs 1,312.85 yesterday, 26 October 2015. HDFC's net profit rose 18.19% to Rs 1604.56 crore on 12.13% rise in total income to Rs 7480.24 crore in Q2 September 2015 over Q2 September 2014. The result was announced during market hours yesterday, 26 October 2015.

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