Bank shares jumped on Tuesday, emerging as the top gainers in the day's trading, as investors lapped up shares of some larger lenders amid uncertainty over near-term market prospects. The Nifty Bank index advanced 2.1% on Tuesday, while the benchmark Nifty gained 0.5%. Ten of the 12 stocks on the Nifty Bank index gained at close on Tuesday.
Open FlipThis Dhanteras, jewellery and gold demand dropped 10-15% by volume, but value sales rose 25% due to high prices, with consumers opting for lightweight and diamond-studded jewellery, and silver demand increasing 30-35%. Total gold sales are estimated at 22 tonnes, down 12% from last year, with gold prices up 30% year-on-year.
Open FlipDeepak Fertilisers and Petrochemicals on Tuesday reported a more than three-fold surge in second-quarter net profit at ₹210 crore on Tuesday, benefitting from strong sales growth across its business segments. In the last year, the fertiliser maker’s consolidated net profit came in at ₹60 crore. The company's revenue from the three months ending September 30 was up 13.3% on an year-on-year.
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