Indian Auto Sector Shines Amid Overall Equity Market Losses

Indian equity markets closed in the red for the second consecutive day on Thursday, with Metal and Energy sectors correcting by over 0.5%. However, the auto sector outperformed, bucking the broader market trend.

Several companies including CSB Bank, Hindustan Zinc, CG Power and Industrial, Butterfly Gandhimathi, Glenmark Life Sciences, Sunteck Realty, Central Bank, and CreditAccess Grameen are set to announce their Q2 results on Friday, October 20, 2023.

Shares of Hindustan Unilever (LON:) Limited (HUL) were in focus following the release of its Q2 results. The company reported a year-over-year net profit increase of around 4%.

Similarly, IT firm Cyient and small-cap pharmaceutical company Aarti Drugs also reported marginal net profit increases for the July-September period.

Meanwhile, shares of KPI Green, Anand Rathi Wealth, Angel One, HCL Technologies, and Dalmia Bharat will trade ex-dividend. This means that investors who purchase these stocks going forward will not be eligible for the next round of dividends that these companies distribute.

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