Header Ads Widget



Flat Close for Markets as Metal, Auto Stocks Drag While PSUs Shine

It was a relatively flat day for markets as the Sensex and Nifty closed marginally lower. Metal and auto stocks skidded while PSU banks and media stocks cruised higher. 

In numbers, the Sensex slipped 0.16% to end at 65,846 and the Nifty edged 0.14% lower to 19,570. Hero Moto, SBI Life, Cipla, TechM and Wipro shone as top gainers. On the losing side were Adani Enterprises, Power Grid, Hindalco, M&M and Divi's Labs.

In quarterly earnings, Hindalco profits fell 40% YoY, Coal India net dipped 10% and Adani Ports net rose 83%. The Concord Biotech IPO saw robust 25x subscription. 

Other updates were - rising credit card defaults, higher July fuel consumption, big bank write-offs and Aeroflex getting IPO approval.

Stocks in focus included Power Finance on bonus issue plans, Tata Power’s hydro projects deal, Infibeam subsidiary listing and stake sale by and to Adani Green promoters. Hero Moto also received 25,000 bookings for Harley bikes.

That sums up key highlights for the day! If you enjoyed this, be sure to bookmark us for your daily market musings.

Disclaimer: I'm just providing this for education purpose. Please do your own research before investing!

Post a Comment