Market Summary

Market closes in the red amid volatility ahead of US economic data. Financials remain a major drag. Nifty slips by 106 points.

Companies

HCL Tech (+3%) on healthy Q2 earnings & upward guidance revision. Wipro (-7%) after the company missed the profit margins by 9%. Sun Pharma (+1%) stock increased after the news of approval from the SEC comes to sell SR tablet

Sectors

Nifty Bank, Nifty PSU Bank falls after all financial stocks fall today. Yesterday SEBI issued a standard operating procedure for an inter-operable regulatory sandbox

News of The Day

1. As per the latest inflation report: Consumer Inflation in India spiked to 7.4% due to the weaker Rupee and disrupted supplies. (Indian Express)

2. Pennar Industries (+11%) after the company bagged an order worth Rs 1,167Cr. (India Times)

3. Shares of Ugar Sugar (+7%) after the company received consent for the operation of its new distillery. (Economic Times)

4. Tata Tele Services (+5%) partners with Google Cloud to offer Google workspace for Small & Medium Businesses (India Times)

5. Shares of Maharashtra Seamless (+5%) after the company proposed a stock split and bonus issue plan. (Live Mint)

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