Key benchmark indices ended lower in a volatile session of trade. The barometer index, the S&P BSE Sensex fell 70.58 points or 0.25% to settle at 28,223.70. The Nifty 50 index shed 16.65 points or 0.19% to settle at 8,706.40. The indices moved in a narrow range in positive terrain till late trade before slipping into the red as European stocks reversed intraday gains. Key indices declined for the third straight day. The Sensex and the Nifty, both, settled at their lowest level in over four weeks.

Shares of public sector banks declined. Shares of most private sector banks fell. Metal & mining stocks fell. Capital goods stocks were mixed. IT stocks advanced.

The Sensex fell 70.58 points or 0.25% to settle at 28,223.70, its lowest closing level since 29 August 2016. The Sensex fell 114.94 points or 0.4% at the day's low of 28,179.34. The barometer index gained 138.46 points or 0.48% at the day's high of 28,432.74.

The Nifty shed 16.65 points or 0.19% to settle at 8,706.40, its lowest level since 29 August 2016. The Nifty shed 32.55 points or 0.37% at the day's low of 8,690.50. The index gained 45.45 points or 0.52% at the day's high of 8,768.50.

In overseas stock markets, European stocks dropped with the energy sector under pressure after Iran poured cold water on hopes for an output-cap deal at a meeting of major oil producers this week. Members of the Organization of the Petroleum Exporting Countries and those outside the cartel are meeting tomorrow, 28 September 2016 in Algiers at the International Energy Forum. Most Asian stocks rose with sentiment buoyed by the US presidential debate where Hillary Clinton appeared to gain momentum over Donald Trump. Investors were reacting to the first televised debate between US presidential nominees Hillary Clinton and Donald Trump yesterday, 26 September 2016. Clinton appeared to have edged out her Republican opponent based on reports on the initial market reaction.

US stocks extended losses yesterday, 26 September 2016 as worries about Germany's Deutsche Bank weighed on the financial sector and as investors awaited the US presidential debate. US presidential elections will be held on 8 November this year.

Closer home, the market breadth indicating the overall health of the market turned negative from positive in late trade. On BSE, 1,454 shares fell and 1,229 shares rose. A total of 216 shares were unchanged. The BSE Mid-Cap index rose 0.11%. The BSE Small-Cap index gained 0.13%. Both these indices outperformed the Sensex.

The total turnover on BSE amounted to Rs 2879.83 crore, lower than turnover of Rs 3435.24 crore registered during the previous trading session.

Among the sectoral indices on BSE, the S&P BSE Telecom index (down 1.52%), the S&P BSE Capital Goods index (down 1.12%), the S&P BSE Oil & Gas index (down 0.72%), the S&P BSE Metal index (down 0.68%), the S&P BSE Industrials index (down 0.66%), the S&P BSE Auto index (down 0.47%), the S&P BSE Bankex (down 0.47%), the S&P BSE Utilities index (down 0.34%), the S&P BSE Energy index (down 0.32%), the S&P BSE FMCG index (down 0.29%) and the S&P BSE Power index (down 0.27%), underperformed the Sensex. The S&P BSE Finance index (down 0.2%), the S&P BSE Basic Materials index (down 0.18%), the S&P BSE Consumer Discretionary Goods & Services index (down 0.14%), the S&P BSE Realty index (up 0.22%), the S&P BSE Consumer Durables index (up 0.27%), the S&P BSE Teck index (up 0.36%), the S&P BSE Healthcare index (up 0.59%) and the S&P BSE IT index (up 0.70%), outperformed the Sensex.

Shares of public sector banks declined. IDBI Bank (down 1.6%), Bank of Baroda (down 1.53%), Syndicate Bank (down 1.26%), Punjab National Bank (down 0.21%), Allahabad Bank (down 1.43%), State Bank of India (SBI) (down 1.07%), Union Bank of India (down 0.7%), Bank of India (down 1.1%) and United Bank of India (down 0.7%) edged lower. Corporation Bank (up 1.52%) and UCO Bank (up 1.33%) rose.

Shares of most private sector banks fell. Axis Bank (down 1.19%), ICICI Bank (down 0.91%), Federal Bank (down 0.62%), RBL bank (down 0.88%) and Kotak Mahindra Bank (down 0.51%) edged lower. HDFC Bank (up 0.07%) and IndusInd Bank (up 0.54%) rose.

Yes Bank rose 0.83% after the bank said that it will raise Rs 330 crore or around $50 million through an issue of seven year Green Infrastructure Bonds to FMO, the Dutch development bank on a private placement basis. The amount raised will be used to finance green infrastructure including solar and wind projects in the renewable energy space. The announcement was made during market hours today, 27 September 2016.

Metal & mining stocks fell. Vedanta (down 1.33%), Hindalco Industries (down 2.19%), Jindal Steel & Power (down 1.53%), Tata Steel (down 0.69%), Steel Authority of India (Sail) (down 1.25%), National Aluminum Company (down 0.44%), JSW Steel (down 0.36%), Bhushan Steel (down 0.12%) and Hindustan Copper (down 0.38%) declined. Hindustan Zinc (up 0.11%) and NMDC (up 0.52%) gained.

High Grade Copper for December 2016 delivery was currently down 1.07% at $2.175 per pound on the COMEX.

Capital goods stocks were mixed. BEML (down 0.84%), Havells India (down 0.23%), Crompton Greaves (down 1.37%), Bharat Heavy Electricals (Bhel) (down 1.23%) and L&T (down 1.99%) declined. Thermax (up 1.35%), Siemens (up 0.56%) and ABB (India) (up 0.83%) gained.

IT stocks advanced. HCL Technologies (up 1.21%), TCS (up 1.24%), Infosys (up 0.46%), Tech Mahindra (up 0.07%) and Wipro (up 1.17%) edged higher.

8K Miles Software Services rose 2.75% after the company said its board has fixed 13 October 2016 as the record date for ascertaining the eligibility of the shareholders entitled for stock split and bonus issue. The announcement was made after market hours yesterday, 26 September 2016. On 24 August 2016, 8K Miles Software Services announced that its board approved splitting each equity share into two (2-for-1) and issuing one bonus share for three shares held (1:3).

Auto stocks reversed intraday gains. Mahindra & Mahindra (M&M) (down 0.64%), Ashok Leyland (down 0.37%), Maruti Suzuki India (down 0.94%), Eicher Motors (down 0.37%), Bajaj Auto (down 0.86%), and Tata Motors (down 0.2%) declined. TVS Motor Company rose 0.17%.

Hero MotoCorp declined 0.4%. The company said that it has augmented premium portfolio with the next-gen 'Achiever - 150' aiming to expand its presence in the premium segment. The motorcycle is competitively priced at Rs 62,800 ex-showroom Delhi for the disc variant and Rs 61,800 for the drum variant. The company has launched limited edition Achiever 150 to commemorate the 7 crore milestone of cumulative production. The announcement was made after market hours yesterday, 26 September 2016.

IRB Infrastructure Developers rose 0.53% after the company said that it received letter of award from National Highways Authority of India (NHAI) for the project of six laning from Udaipur to Rajasthan/Gujarat border a stretch of NH-8 in the states of Rajasthan and Gujarat. The project will be on design, build, finance, operate and transfer (DBFOT) mode under National Highways Development Project Phase V. The estimated project cost of the company is approximately Rs 2100 crore. The concession period of the project is 21 years including construction period of 910 days. The company will get tolling rights on project from the appointed date. The company has offered premium of Rs 163.80 crore to NHAI in terms of the concession agreement. The announcement was made after market hours yesterday, 26 September 2016.

Sintex Industries lost 5.76% after the company's board approved allotment of 7.69 crore shares at Rs 65 per share on rights basis to eligible shareholders. The announcement was made after market hours yesterday, 26 September 2016. It may be recalled that shares of Sintex Industries had turned ex-rights on 8 August 2016. The company had fixed 9 August 2016 as record date for the rights issue. The company had approved issue of shares to shareholders in ratio of 26 shares on rights basis for every 151 shares held in the company at Rs 65 per share.

Maithan Alloys fell 5.98% after the company said that due to heavy rains and flood, there has been severe damage to power transformer and other electrical equipment installed at the company's Visakhapatnam plant. The announcement was made after market hours yesterday, 26 September 2016. Maithan Alloys said that due to heavy rains and flood, there has been severe damage to 132 kilovolt (KV) power transformer and other electrical equipment installed at the company's Visakhapatnam plant. The full damage is yet to be ascertained, Maithan Alloys said. The transformer and other electrical equipment are fully insured, the company said. The production at the plant could be significantly affected over the next few months, it added.

Vivimed Labs hit an upper circuit limit of 20% at Rs 102.65 on BSE after a block deal of 36 lakh shares, or 4.44% equity, was struck at Rs 90.50 per share at 13:02 IST on NSE.

Meanwhile, the Asian Development Bank kept its growth estimates for developing Asia for this year and next at 5.7%, saying sustained expansion in China and India can steady the region but warned of risks from a looming US interest rate hike. The Manila-based lender increased its growth forecast this year for China to 6.6% from 6.5% and for 2017 to 6.4% from 6.3%, citing fiscal and monetary stimulus measures in the world's second-largest economy. The projections for India were kept at 7.4% for this year and 7.8% for 2017, driven by strong consumption and an investment revival, the ADB said.

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