Benchmark indices rallied on the very first trading session of Feb F&O expiry supported by a rally in financial firms and optimism ahead of the Budget next week.However, the sentiments of the global market were subdued on the last trading session of the week as china was closed today. Nifty ended the session to close at 8672.
The FMCG stocks were the losers for the day while PSU banks stocks were the gainers of the day.
Global Markets Update
Microsoft Corp profit rose 3.6 percent in fiscal second-quarter helped by growth in its fast-growing cloud computing business, but it saw a slight decline in margins in the unit that includes its flagship cloud platform Azure.
President Trump will seek quick progress toward a bilateral trade agreement with Japan in place of a broader Asia-Pacific deal he abandoned this week when Japanese P.M. visits him.
Colgate-Palmolive Ltd posted a revenue decline of 8.4 percent YoY in 3Q in line with estimates and 22% net profit decline to Rs 128 crores due to lower volumes and impact of demonetisation.
Maruti Suzuki launched the all new VXi variant of WagonR in both manual transmissions as well as automatic transmission. WagonR is amongst India’s top 5 selling cars, and till Dec 2016 Maruti has sold 131,756 units of the car.
Eveready Industries India Ltd recorded stable revenue of Rs 345 crore beating revenue estimates of a lower Rs 330 crore. The street expected the volumes from batteries to lose traction, but stable battery volumes boost the street sentiments.
ITC Ltd’s revenue grew 4.7% percent YoY basis to Rs 13,570 crore. PAT was in line with estimates with a 5.8 percent yoy basis growth.Net profit grew supported by revenue growth and accounting other income of Rs 688 Cr. Due to steady volumes and lower employee benefit costs EBITDA grew 2 percent.
Wipro reported 2 percent quarter on quarter rise in consolidated net profit for December quarter Rs 2,109.6 crore compared to Rs 2,070.40 crore posted for the sequential quarter ended September 30, 2016.
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