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Net profit increased to Rs 14,330 crore in the quarter ended September 2023 from Rs 13,265 crore a year earlier due to a 12% growth in advances, led by a 23% growth in loans to small and medium enterprises (SMEs). Total provisions fell sharply to Rs 115 crore in September 2023 from Rs 3039 crore a year earlier because the bank benefited from a Rs 1295 crore write back from accounts which recouped delayed payments earlier. Net profit was in line with a poll of analysts by Bloomberg which had predicted Rs 14,329 crore.

Its expenses trimmed to Rs 146.16 crore from Rs 214.33 crore in July-September period of the last financial year.

Operating profit rose 41% to $10.76 billion, or $7,444 per Class A share, from $7.65 billion a year earlier.

"At least from the headline numbers of NPA, it tells us that there does not seem to be any worry. We will have to look at the granularity in terms of what are the slippages and what are the upgrades. Possibly the upgrades would have been better this time around relative to the other quarters."

The yellow metal was down 0.60% on the week. The ten-year US yields fell 1.82% to 4.58% on Friday and slumped nearly 6% on the week. Likewise, the two-year yields settled 3% lower at 4.84% on the week. The US Dollar fell 1.07% to 105.06 on Friday as it recorded a weekly loss of around 1.50%.

"A very strong buying action was seen in Zomato. Even if you look at the longer-term chart timeframe, since the last seven or eight months, the stock is in an uptrend. If you look at the weekly as well as the monthly chart, the stock is clearly moving in an up-sloping channel. That clearly shows that the trend is intact on the bullish side."

11 stocks within the BSE100 index have consistently demonstrated upward momentum in their share prices in last 5 days.

Vedanta Q2 Results: Consolidated revenue from operations rose 6.3% year-on-year (YoY) to Rs 38,945 crore. Sequentially, the topline rose sharply by nearly 15.4%.

SBI Q2 Results: Net interest income (NII), the difference between interest earned and interest expended, rose over 12% on year to Rs 39,500 crore, and was the above estimated Rs 38,500 crore. Gross non-performing assets ratio as of September end was 2.55%, compared with 3.52% a year ago, and 2.76% a quarter ago. Net non-performing assets ratio as of September end was 0.64%, compared with 0.80% a year ago, and 0.71% a quarter ago.

From a technical perspective, the market formed an Inside Bar on the charts as Nifty formed a lower high and higher low. More importantly, Nifty defended the strong support zone of 18,850-18,900 levels. As of now, unless violated, this zone remains a very strong support zone for Nifty.