[09/02 Market Update] Adani Enterprise (-11%) declined as MSCI is reviewing the free float status.
[09/02 Market Update] Adani Enterprise (-11%) declined as MSCI is reviewing the free float status.
Tribe Daily
Market Summary
Nifty closed with marginal gains following a range-bound session.
Companies
Adani Enterprises (-11%) and Adani Ports (-3%) declined as MSCI is reviewing the free float status of the company and Norway wealth fund sold shares worth $ 200 million as a part of phased disinvestment. HDFC Life (+2%) rose after the firm launched an ad campaign highlighting the importance of family in overcoming challenges.
Sectors
Nifty Metal (-2%) declined due to disappointing Q3 results of Hindalco and Tata Steel.
Market News
1.Page Industries (-3%) declined due to disappointing Q3 results. (Business Standard)
2.Voltas (-1%) declined as Q3 results missed estimates. (CNBC TV 18)
3.Indian Overseas Bank (+1%) rose as Q3 profit rose by 22% to Rs 555 cr. (Devdiscourse)
4.IRCTC (+1%) rose as Q3 net profit rose by 22% to Rs 256 cr. (Economic Times)
5.Hindustan Aeronautics Limited Q3 net profit rose by 24% YoY to Rs 1,155 cr. (Mint)
Market Sentiment
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