Benchmark indices traded bullish ahead of Jan F&O expiry and gained 1%.Market sentiments were supportive ahead of Union Budget 2017 to be presented next week. However, the global sentiments were mixed as the dollar remained soft amid uncertainty over U.S. President Donald Trump’s policies and his withdrawal from the Trans-Pacific Partnership trade deal.
The Auto and Metal stocks were the major gainers of the day while IT and Media were the losers for the day.
Global Markets Update
Samsung Electronics Co Ltd expects profit growth in 2017 despite challenges arising from political uncertainty, after record chip earnings glossed over the Note 7 smartphone fiasco.
U.S. President Donald Trump formally withdrew the U.S. from the Trans-Pacific Partnership trade deal on, distancing America from its Asian allies, as China’s influence in the region rises.
HDFC Bank Q3 standalone NII for the period came in at Rs. 8309 crores showing a 17.6 percent YoY growth. Gross NPA’s for the period recorded a 23 percent you jump to Rs. 5232 crore. Asset quality measured in terms of gross NPA as a percentage of gross advances worsened slightly to 1.05 percent.
M & M Financial Services Ltd’s shares moved higher after posted consolidated revenue for the quarter surged 9.5 percent YoY basis to Rs. 1735 car. However, net profit for the quarter declined 87.9 percent YoY basis to Rs. 12 car.
HCL Technologies registered a 2.30 percent rise in consolidated net profit at Rs 2,062.04 crore for the quarter. Revenue from operations jumped 2.56 per cent to Rs 11,814.20 crore.
Asian Paints registered 1.5percent increase in consolidated net profit at Rs 489 crore for the third December quarter of the current fiscal. It had posted the net profit of Rs 482 crore in the corresponding quarter last year.
Bharti Infratel reported 25 percent increase in consolidated net profit to Rs 620 crore for the December quarter of the current fiscal. It had posted the net profit of Rs 495 crore in the same period of last fiscal, 2015-16.
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