DSIJ Mindshare

On Friday, Indian equity markets ended on a flat note. Nifty 50 closed the last trading session of the week at 17,314.6 in the red territory, marginally down by 0.10 per cent. Top gainers of the index were Titan, Power Grid Corporation, ONGC, IndusInd Bank and Grasim. 

The domestic indices had a great start to the day but gave up the majority of the gains to end flat. With the exception of BSE Realty and BSE FMCG, almost all the other sectors were trading higher. With gains of over 1 per cent each, BSE Metals and BSE Consumer Durables were the top performing sectors.  

At 12.30 pm on Thursday, the headline equity indices, i.e. Sensex and Nifty 50 were trading higher as investors, all over the world, are eyeing Fed Chairman Jerome Powell’s speech at Jackson Hole Meet today. 

At market close on Friday, the headline equity indices, i.e. Sensex and Nifty 50 ended on the higher side after RBI hiked the repo rate by 50 basis points as was expected by analysts & economists. The repo rate is at 5.40 per cent now whereas standard deposit facility (SDF) and marginal standing facility (MSF) rates stand at 5.15 per cent & 5.65 per cent, respectively.  

The company recorded its second-best quarterly revenue in Q1FY23.  Titan Company Limited on August 5 (Friday) reported a phenomenal rise in its Q1FY23 net profit at Rs 793 crore as compared to Rs 61 crore in the same quarter last year. Its total revenue from operations jumped to Rs 8,961 crore as compared to Rs 3,249 crore year-on-year (YoY).