Hindalco, Trent drag Indian benchmarks; Fed rate decision in focus

Apollo Hospitals Enterprise

07/11/2024 07:43

** Indian benchmarks NSE Nifty 50  .NSEI  and BSE Sensex
 .BSESN  shed ~1% each 
    ** Aluminium maker Hindalco  HALC.NS  drops 8% after Q2
profit fall at U.S. unit Novelis  NVL.N 
    ** Apparel retailer Trent  TREN.NS  falls 6.5% after
reporting slowest revenue growth in 3 years
    ** HALC, TREN top two pct decliners out of the 45 NSEI
members trading lower on the day   
    ** Meanwhile Apollo Hospitals  APLH.NS  jump ~7% after Q2
profit beat, top pct gainer on NSEI 
    ** Eleven out of the thirteen major subsectors retreat on
the day 
    ** Focus on U.S. Federal Reserve's rate decision, commentary
due after Indian market close
    ** Fed expected to cut rates by 25 basis points
    

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))