Market Summary
Nifty declined for the third straight day due to the weak performance of Nifty IT and Nifty Private Bank.
Companies
Reliance (+1%) rose after the company's arm inked a deal with Manchester City to spur the India push. Britannia (+1%) rose due to margin improvement and high earning visibility.
Sectors
Nifty FMCG (+0.03%) rose due to strong performance of Britannia, United Spirits, Nestle India and ITC. Nifty IT (-2%) declined due to weak performance of TCS, Tech Mahindra, Infosys, Wipro and HCL Tech. Nifty Media (-1%) declined due to weak performance of PVR, Dish TV, INOX Leisure and Zee Entertainment.
News of The Day
1.Sigachi Industries (+20%) rose after the company announced a board meeting to consider raising of funds through equity or convertible warrants. (Business Standard)
2. Rama Steel Tubes (+10%) rose as stock turned ex-date for 4:1 bonus. (Business Standard)
3.IDBI Bank (+8%) rose after SEBI allowed the govt to re-classify its stake in IDBI Bank as public for ease of divestment. (Business Line)
4.Landmark Cars (+5%) rose and hit a new high after a weak market debut. (Business Standard)
5.Dabur India (-3%) declined due to weak Q3 business updates. (Money Control)
Market Sentiment
Expert of The Day
Latest Blog:
$300 Bn Electronic Manufacturing Sector by 2026!
Articles You Like to Read
Green hydrogen has got a spark that it deserves. (Source: Mint)
More climate-tech investments needed for a sustainable, green future. (Source: Mint)
Technology has a bright future beyond the clutches of capitalism. (Source: The Local Report)
Latest on our Social:
Follow our Socials
Looking for fantastic content on the stock market, trading and investing?