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Market Snippet

It was a sluggish trading day with the nifty failing to touch 8300. The 50-share index was up 6.60 points at 8273.05 as investors booked profits on recent outperformers, but defense stocks rose after the United States recognized the country as a “major defense partner” during Prime Minister Visit to USA. Defence-sector stocks, including Bharat Electronics, Astra Micro Wave Products Ltd, Reliance Defence and Engineering Ltd jumped between 5.5% to 17.3%. BHEL, Tata power, HCL Tech were the top gainers while Kotak Mahindra bank, Infosys, Asian paints and Adani ports were the top losers.

Global Markets Update:

  • Suzuki Motor Corp’s Chief Executive and Chairman Osamu Suzuki will give up his CEO title while Executive Vice President Osamu Honda will retire.
  • European shares fell retreating after two straight days of gains, as a drop in Austrian bank Erste knocked back financial stocks.

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