Post Market Analysis 28-10-2021

Benchmark Indian stock indices plunged by more than 1.8%, weighed by losses in PSU bank, metal, realty, oil & gas, power, pharma indices down by 2-5 percent. The Sensex fell 1.89% to 59984.70 and Nifty dropped 1.94% to 17857.25.

Broader markets also tanked as mid-cap stocks and small-cap stocks came under heavy selling pressure lost over 1 percent each.

Indian rupee down 11 paise to 74.92 against the US dollar on Thursday.

Kotak Mahindra Bank: Private lender Bank has announced that it has partnered with the National Payments Corporation of India (NPCI) to launch Kotak RuPay Veer Platinum and Kotak RuPay Veer Select Credit Cards on the RuPay platform, These contactless cards come with a zero joining fee. 

IndusInd Bank: The bank share price rises 6% after Q2 profit jumps 72%, Net interest income, the difference between interest earned and interest expended, grew by 11.6 percent to Rs 3,658.40 crore from the year-ago quarter.

Adani Ports: Adani Ports share price falls more than 7% post Q2 earnings down by 30.52 percent fall in its consolidated net profit at Rs 968.3 crore , The company has also told exchanges that it is planning to exit its investment in Myanmar by June 2022.

Punjab National Bank: The bank shares declines upto 10%, after interest income falls in September quarter,PNB’s provisioning for bad loans fell to ₹ 2,693 crore versus provisioning of ₹ 3,811 crore during the same period last year.