Market Summary

Nifty declined for the second-straight day due to continuous foreign funds outflow.

Companies

Cipla (+2%) rose after the company's arm launched a skincare brand. ITC (+2%) rose due to reasonable valuation and improvement in margin. Bajaj Finance (-7%) declined after the company posted a weaker AUM YoY growth.

Sectors

Nifty FMCG (+2%) rose due to easing of commodity prices. Nifty Oil & Gas (+1%) rose due to strong performance of Adani Total Gas, Gujarat Gas, GAIL, Mahanagar Gas and Petronet LNG. Nifty Auto (+1%) rose due to strong performance of MRF, Bharat Forge, Hero Motocorp, Bajaj Auto and Ashok Leyland.

News of The Day

1.​​JBM Auto (+5%) rose after the company emerged as one of the likely winners of Rs 30 Billion tender of CESL for electric buses. (Mint)

2. Apar Industries (+5%) rose due to a positive outlook. (Business Standard)

3.​​Tyre Stocks rose on expectations of margin improvement amid falling raw material prices. (Business Standard)

4.Lupin (+1%) rose after the company launched a fixed-dose triple drug combination to treat uncontrolled asthma.. (Financial Express)

5.Grasim Industries incorporated a subsidiary for business support systems. (CNBC TV 18)

Market Sentiment

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