SC upholds validity of e-voting for winding up of six Franklin schemes
Petrol price crosses Rs 88-mark in Delhi, diesel breaches Rs 85 in Mumbai
ITC sinks 4% as investors unimpressed by Q3 numbers
Ex-ICICI Bank CEO Chanda Kochhar granted bail in PMLA case
Motherson Sumi Q3 profit nearly triples to Rs 798 crore
Let us take a quick glance at what happened on the Dalal Street today.
The bulls failed to sustain their grip on the market as benchmark indices gave up their gains to end largely flat for the day. Weak cues from other Asian and European markets as well as the strength in the US dollar dampened risk appetite on the Street. For the day, Nifty ended 10 points lower but held above the 15,150 mark. Sensex rose 13 points.
ITC, RIL, Bharti Airtel and Sun Pharma were the biggest drag on the benchmarks, but they were partially offset by the strength in some large private banks. ITC slumped 4 per cent on disappointment over its Q3 performance.
Among the gainers, shares of Adani Ports and ICICI Bank rose 3 per cent each. Motherson Sumi jumped 10 per cent after a stellar earnings show.
We have with us Paras Bothra of Ashika Stock Broking to discuss what investors can expect from ITC going ahead and his sectoral picks post the Q3 earnings season.
Welcome to the show, Mr Bothra!
1) Which sectors would you recommend investors to bet on after the Q3 numbers?
2) Is it worth buying ITC after its Q3 numbers and today’s correction?
Major Asian markets settled mixed. European markets were trading lower in the first few hours of trade. US stock futures were hinting at a negative start for US equities later in the day.
That’s all for now.
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