Indian markets experienced heavy selling pressure due to modest GDP and corporate earnings estimates. Only four smallcap stocks posted double digit weekly returns, while 176 fell significantly. Foreign investors sold nearly $2 billion, and rising US bond yields impacted sentiment. Key earnings and macro data, including India’s CPI release, will guide market direction.
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.