https://drive.google.com/file/d/1wmR615gGybwRQdt_itMtw9H5RAUSJHbJ/view?usp=drivesdk
๐ Nifty surged to approach its 52-week high, with the Sensex rallying 1,500 points in just two days, signaling strong pre-Diwali momentum.
๐ Foreign Institutional Investors (FIIs) made a decisive comeback, turning net buyers with an infusion of over Rs 3,000 crore in the past week, reversing a prolonged selling trend.
๐ IT bellwether Infosys bolstered market confidence with a solid 13% YoY jump in Q2 net profit and a 9% rise in revenue, also announcing a Rs 23 per share dividend.
๐ป The earnings season revealed a mixed landscape as Zee Entertainment and Eternal (Zomato) both reported a steep 63% YoY decline in quarterly net profit, pointing to sectoral headwinds.
The market today was dominated by bullish fervor, largely ignited by the renewed confidence of foreign investors. This influx of capital, coupled with positive earnings from an industry leader like Infosys, provided a strong narrative for the rally. However, the undercurrent tells a more complex story. The significant profit erosion at companies in the media and consumer tech spaces acts as a crucial reality check, indicating that the recovery is not uniform across the board. For now, sentiment and liquidity are in the driverโs seat, but investors will be keenly watching to see if broader earnings can catch up to the marketโs optimism.
Stay sharp.
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