Foreign fund managers increased selling of Indian equities in early August due to tariff concerns, a weak rupee, and poor corporate earnings. Financial services and IT stocks experienced the most significant selling pressure. Investors offloaded shares worth ₹34,022 crore across various sectors, driven by muted earnings expectations and uncertainty surrounding India-US relations, impacting market sentiment.
Tamilnad Mercantile Bank Q1 profit jumps 35% on strong income growth
Tamilnad Mercantile Bank reported a 35% year-on-year rise in June quarter net profit to Rs 412 crore, driven by higher income and net interest income.