Stock market closed: Indian markets closed with a decline on the second trading day of the week. Nifty fell 43 points to 17,722, Sensex fell 221 points to close at 60,286. Nifty Bank closed at 41,491 with a gain of 116 points. Out of 50 Nifty stocks, 31 closed in the green and 19 in the red. 7 out of 12 shares of Nifty Bank closed in green and 5 closed in red mark. Buying in 9 stocks of Sensex while selling in 21. Selling was seen in FMCG, auto stocks. Energy, metal, IT stocks were under pressure. There was a slight rise in realty, banking, and pharma stocks.
Nifty Losers
Nifty Gainers
Rupee closes 4 paise stronger
INR strengthened by 4 paise and closed at Rs 82.70. It had closed at Rs 82.74 on Monday.
AMBUJA CEMENTS Q3 FY23 (QoQ)
Income increased by 12.3% to Rs 4,128.5 crore vs Rs 3,675.6 crore
EBITDA is up by 104% to Rs 626.1 cr vs Rs 305.9 cr
Profit up by 166% to Rs 369.9 cr vs Rs 168.9 cr
Margin 15.1% vs 8.3%
Source: Exchange filing
Fitch Ratings: Indian banks bear very little risk
According to Fitch Ratings, the loan obtained by the Adani Group from Indian banks is 0.8–1.2% of the total loan given. Adani Group’s exposure by itself is not sufficient to account for substantial risk to the standalone credit profiles of banks. Public-sector banks may face risk in the form of pressure to provide exposure to the Adani Group if foreign banks reduce their exposure.
Source: Fitch Ratings
Aditya Birla Fashion and Retail Q3 FY23 (YoY)
Income up by 20% to Rs 3,589 crore vs Rs 2,987 crore
Net profit down by 94% to Rs 11.21 cr vs Rs 196.8 cr
EBITDA is down by 25% to Rs 435.63 cr vs Rs 582.11 cr
Margin 12.1% vs 19.5%
Source: BSE Filing
Mid-day market update
Today the stock market opened with strength, but it could not maintain it for a long time. The Sensex is trading at 60,174, falling 332 points to 12.48. At the same time, the Nifty is trading at 17,686 after falling 78 points.
Nifty rising stocks
Nifty Losers
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