Indian Markets Close in the Red with FMCG and IT Stocks Leading the Decline
The Indian stock markets witnessed a day of regular buying and selling, with both the Nifty 50 and Sensex closing in the red. The day’s trading session saw a notable decline in FMCG (Fast Moving Consumer Goods) and IT stocks, while PSU (Public Sector Undertaking) bank stocks experienced gains.
Table of Contents
Market Overview
Despite the overall negative sentiment, there were some notable gainers and losers in the Nifty 50.
Top Gainers:
- Coal India: Rs 399.00, ▲ 4.11%
- Adani Ports: Rs 1,190.90, ▲ 3.34%
- Kotak Mahindra: Rs 1,810.00, ▲ 2.59%
- Adani Enterprises: Rs 2,987.85, ▲ 2.48%
- ICICI Bank: Rs 1,011.50, ▲ 1.23%
Top Losers:
- Hindustan Unilever: Rs 2,470.00, ▼ 3.72%
- TCS (Tata Consultancy Services): Rs 3,859.30, ▼ 2.12%
- M&M (Mahindra & Mahindra): Rs 1,624.00, ▼ 1.91%
- IndusInd Bank: Rs 1,536.00, ▼ 1.61%
- HCL Tech: Rs 1,544.00, ▼ 1.53%
Stock Market Quarterly Results
- Net profit increased by 8% YoY to Rs 3,005 cr.
- Net interest income rose by 16% to Rs 6,553 cr.
- Plans to raise Rs 10,000 cr via non-convertible debentures.
ICICI Bank:
- Net profit rose by 23.6% YoY to Rs 10,272 cr.
- Net interest income (NII) increased by 13.4% to Rs 18,678 cr.
- Net NPA ratio stood at 0.44% vs 0.43% in the last quarter.
Corporate Highlights
- Tata Group secured the IPL title sponsorship rights by agreeing to pay Rs 2,500 cr.
- Government-run oil companies spent Rs 89,000 cr on capital expenditure in the first 9 months of the current financial year.
Stocks in News
- Persistent Systems: The company’s board announced an interim dividend of Rs 32 per share, the highest ever.
- HFCL (Himachal Futuristic Communications Limited): Received an order worth Rs 623 cr from a telecom service provider.
- Tata Consumer: Planning to raise Rs 3,500 cr in debt to fund acquisitions of Capital Foods and Organic India.
- Vodafone-Idea (Vi): Tata Communications Transformation Services to Halt Services Over Unpaid Dues In a significant development, Tata Communications Transformation Services has decided to suspend its services to Vodafone-Idea (Vi) due to the telecom giant’s failure to clear its outstanding dues. The move comes as a consequence of non-payment, raising concerns about the financial health of Vi in the highly competitive telecom sector.
IPO Corner
- Upcoming: Airtel subsidiary Bharti Hexacom has filed draft papers for an IPO.
Global Market Snapshot
- Gold and Silver: Holiday.
- USD-INR Exchange Rate: ₹83.08/USD, ▼ 0.08%.
- Dow Jones: 37,863.80, ▲ 1.05%.
- Nasdaq: 15,310.97, ▲ 1.70%.
Long-Term Returns
Past 20 Years:
- Sensex (India): ▲ 13.12% p.a.
- Nifty (India): ▲ 12.81% p.a.
- Dow Jones (USA): ▲ 6.61% p.a.
- Nasdaq (USA): ▲ 10.32% p.a.
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