Market Summary

Market fails to hold opening gains, closes at day’s low

Companies

Asian Paints (+3%) rose due to help from a sharp fall in Crude Oil prices. Airtel (-2%) fall a day after Jio’s postpaid move. Reliance (-2%) falls for the 5th straight session, stock at a 52-week low.

Sectors

Nifty Metal (+2%) rose due to a positive view of Jefferies & as China is showing signs of recovery. Nifty PSU Bank (-1%) fell due to weak performance by Canara Bank, Bank of India & Bank of Baroda.

Market News

1.KEC International bags orders worth ₹1,131 Cr across its various businesses.(Mint)

2.SVB fallout: Nazara Tech's subsidiaries transfer most of its cash deposits to external bank accounts. (Moneycontrol)

3.Square Yards’ revenue nears Rs 400 Cr in FY22, losses surged 2.76X (Entracker)

4.Shriram Finance looking to sell 15% stake in housing arm. (Indian Express)

5.Global Surfaces IPO final day sees investors booking 4.54 times, QIB portion 4.15 times. (Money Control)

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