Market Summary

Market closes largely higher led by a healthy move in select large cap majors. Sensex & Nifty gain 1% each

Companies

ITC (+3%) rose as the company announced Ex-Dividend. Eicher Motors (-2%) slips after reporting an in-line set of earnings.

Sectors

Nifty FMCG (+1%) continues to rise due to good Q3 results of ITC, Britannia and HUL. Nifty PSU Bank (+1%) rose due to the strong performance of Indian Bank, Canara Bank & Bank of Baroda. Nifty Realty(-3%) declined due to weak results of India Bulls Real Estate & weak performance of Sunteck Realty & Phoenix Mills Ltd.

Market News

1.Union Bank of India will likely sell its ₹2,077 cr KSK Mahanadi Power and ₹54 cr Raigarh Champa Rail Infrastructure debt to ASREC (Economic Times)

2.IRB Infra's Q3 net profit doubles to Rs 141 cr (India TV)

3.PTC India consolidated net profit rises 51.79% in the December 2022 quarter. (Business Standard)

4.Start-up InsuranceDekho raises $150 mn in funding for expanding business (Business Standard)

5.WPI inflation eases to 4.73% in January, the lowest in 24 months. (Moneycontrol)

Market Sentiment

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