Market Summary

Nifty traded under pressure and lost due to mixed global cues, the decline was widespread but Nifty Realty, Nifty Metal, and Nifty PSU Bank were amongst the top losers.

Companies

Maruti Suzuki (+1%) rose after the company announced a record number of sales in CY 2022. Coal India (-3%) declined after the company announced 19% minimum wage hike.

Sectors

Nifty Metal (-2%) declined due to weak performance of JSW Steel, Hindalco, Vedanta, SAIL and NMDC. Nifty Realty (-2%) declined to weak performance of Indiabulls Realty, Godrej Properties, Hemisphere, DLF and Phoenix Mills. Nifty PSU Bank (-2%) declined due to weak performance of Canara Bank, JK Bank, PNB, BOB and Central Bank.

News of The Day

1.​​Cabinet approved Rs 19,744 cr National Green Hydrogen Mission. (Business Standard)

2. Ambuja Cements formed a wholly-owned subsidiary Ambuja Shipping Services. (Mint)

3.​​TVS Electronics (+20%) rose due to heavy trading volumes. (Business Standard)

4.Allcargo Logistics (+1%) rose after Jefferies initiated a buy coverage. (BQ Prime)

5.Avenue Supermarts (-3%) declined due to the slow pace of revenue growth in Q3. (CNBC TV 18)

Market Sentiment

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