What is the current market situation in Indian market indices ended lower on the last trading day of the week as volatility was caused by the Reserve Bank’s announcement.
What are shares doing at the moment
The banking sector index fell after the Reserve Bank of India (RBI) decided to cut the repo rate by 0.25 basis points in its monetary policy meeting.
Moreover, the market witnessed high volatility as investors struggled to make sound decisions due to continued foreign investment outflows. For the third consecutive day, the market indices closed with a decline.
LIC’s net profit up 17%
Public sector insurer LIC has reported a net profit of Rs 11,056 crore for the third quarter. This is a 17 percent increase over the net profit of Rs 9,444 crore in the same period last year.
This was due to a 30 percent reduction in employee welfare and other expenses.
Foreign Investment
Foreign investors sold shares worth Rs 470 crore yesterday.
Crude Oil
Global crude oil prices rose 0.73 percent to $74.83 per barrel yesterday.
Rupee Value
The Indian rupee appreciated by 9 paise against the US dollar to Rs 87.50.
Mahindra’s profit up 19%
In the third quarter of the current financial year, Mahindra & Mahindra, which is engaged in the manufacture of automobiles, has reported a net profit of 19 percent.
Due to increased demand for SUVs, it has earned a net profit of Rs 2,964 crore in the period between October and December.
Moreover, the company’s revenue increased to Rs 30,538 crore during the same period, an increase of 20 percent compared to the previous year.
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