HDFC Life (+8%) this week, Nifty (-1%) & more
HDFC Life (+8%) this week, Nifty (-1%) & more
Tribe Weekly
Market Weekly
Nifty (-1%) declined this week due to profit booking ahead of Q3 earnings and an indication of further rate hikes by the FED.
Companies
BPCL (+4%) rose due to decline in oil prices. Bajaj Finance (-9%) declined due to weak Q3 updates.
Sectors
Nifty PSE (+1%) rose due to strong performance of Power Finance, BPCL, SAIL and BHEL. Nifty Consumer Durables (+1%) rose due to strong performance of Rajesh Exports, Havells India,Voltas and Amber Enterprise. Nifty IT (-2%) declined due to weak performance of Infosys, LTMindtree, Tech Mahindra and Wipro.
Weekly News
1.Cabinet approved Rs 19,744 cr for National Green Hydrogen Mission. (Business Standard)
2. GST collections jumped by 15% ( Rs 1.49 lakh cr) in December 2022. (Mint)
3.December manufacturing PMI at 26-month high of 57.8 as production picks up. (Business Standard)
4.Center received multiple preliminary bids for 61% stake in IDBI Bank. (Economic Times)
5.HDFC Bank posted a 19.5% loan growth in Q3. (BQ Prime)
Tribe Next Week
January 09: TCS( Tata Consultancy Services) quarterly result & third interim dividend announcement.
January 10: Quest Capitals Market Ltd, Visagar Financial Services Ltd, Excel Realty and Infra Ltd & Gala Global Products Ltd quarterly results.
January 11: National Standard ( India) Ltd, 5Paisa Capital Ltd & Alstone Textiles ( India) quarterly results.
January 12: Infosys, HCL Tech quarterly results & India Consumer Price Index (CPI) YoY release.
January 13: Wipro & Ganesh Housing quarterly results.
Market Sentiment
Latest Blog:
$300 Bn Electronic Manufacturing Sector by 2026!
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