Market Summary

Nifty declined due to the weak performance of Nifty FMCG, Nifty Media and Nifty Consumer Durables.

Companies

HDFC Bank (+1%) rose due to a healthy growth in the balance sheet. Hindustan Unilever (-4%) declined as royal payout hike raised margin concerns. Asian Paints (-3%) declined as Q3 results missed estimates.

Sectors

Nifty Media (-1%) declined due to disappointing Q3 results of PVR and Network 18.

Market News

1. Union Bank Q3 profit rose by 107% (to Rs 2,245 cr). (Money Control)

2. Jindal Stainless (+4%) rose due to a strong business outlook. (Business Standard)

3.​​​​HDFC Life Q3 net profit rose by 15% YoY (to Rs 315 cr). (Economic Times)

4.DCM Shriram’s Q3 profit fell as costs soared. (The Print)

5.Bandhan Bank Q3 net profit fell by 66% (to Rs 290.57 cr) YoY due to high provisions. (Money Control)

Market Sentiment

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