HDFC Bank(+6), Eicher Motors(-5%) & more
Market Summary
Nifty ended at a 13-month high.
Companies
HDFC(+6%) and HDFC Bank(+6%) as Global Index aggregator MSCI Inc removes a major technical overhung on the stocks.
Sectors
Nifty IT (+4%) rises after data revealed that inflation is cooling down in the USA. Nifty Metal(+3%) rises as the dollar index falls.
News of The Day
1. Inox Green Energy IPO subscribed by 10% during the first two hours of bidding. ( Economic Times)
2.Hindalco Industries Limited reported a 35% (Rs 2205 crore) YoY fall in consolidated net profit for the September quarter despite sales growth. (Economic Times)
3. Shares of Apollo Hospitals rallied by 6% (Rs 4539) after the company posted better-than-expected results. The consolidated revenue rose by 14.4% ( Rs 4251 crore). (Economic Times)
4.Mahindra and Mahindra reported a 46% ( Rs 2090 crore) YoY jump in standalone profits after tax. The revenue rose by 57% ( Rs 20,839 crore) YoY.(Economic Times)
5. Kaynes Technology IPO subscribed by 35% on day 2. (Economic Times)
Market Sentiment
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