Market Summary

Market takes a cue from Wall Street, ends the Friday session 1% higher Financials lead the market. Nifty gains 170 points.

Companies

Infosys(+4%) after declaring Q2 results and announcing buyback. HDFC Bank (+4%) is up after declaring interest rates, Q2 results releasing tomorrow. ONGC (-2%) as Govt. is looking to impose tax on gas.

Sectors

Nifty Bank (+2%) & Nifty Pvt Bank (+2%) are up as bank stocks shine in the market. Nifty OIL & GAS fall after Govt. is looking to levy windfall profit tax on domestic natural gas.

News of The Day

1. Infosys (+4%) becomes the 4th largest company by market capitalization in India as company reported a 23.4% YoY jump in consolidated revenue. (India Times)

2. Mindtree (+2%) shares jump as net profit rises (News18)

3. Singapore Airlines is in Talks with Tata Sons to merge their joint venture Vistara with Air India. (Indian Express)

4. Shares of Anand Rathi Wealth (+3%) after the company posted strong Q2 results. The profits increased by 41% & the consolidated revenue increased by 33% YoY (India Times)

5. MTNL gets shareholders' approval to raise Rs 17,571Cr through government-guaranteed debt bonds on a private placement basis (Economic Times)

Experts of The Day

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