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Here are the top stories to start your day.
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⭐ ITC Q3 profit zooms
In the December quarter, the cigarette-to-biscuit manufacturer’s net profit rose 21% YoY to ₹5,031 crore. It sustained its strong growth momentum across segments including FMCG and cigarettes. The management said that consumer sentiments improved but remained below pre-pandemic levels.
⭐ Banking sector resilient: RBI
The banking sector remains resilient and stable, said the Indian central bank. This comes amid concerns over the loans given by banks to the Adani Group companies. Meanwhile, the Nifty Bank index sharply rebounded on Friday, rising 2%.
⭐ Key rate decision this week
The Reserve Bank of India’s (RBI) monetary policy meeting and corporate earnings will drive the markets this week, according to the analysts. The street is expecting a rate hike of 0.25% as the inflation continues to ease.
Global markets (at 9:15 AM today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.24% |
| Nikkei 225 (Japan) | ▲ 0.78% |
| Hang Seng (Hong Kong) | ▼ 2.36% |
| SSE Composite (China) | ▼ 1.02% |
| Dow Jones (US) (February 03) | ▼ 0.38% |
| NYSE (US) (February 03) | ▼ 0.50% |
| Nasdaq (US) (February 03) | ▼ 1.59% |
| S&P 500 (US) (February 03) | ▼ 1.05% |
Fact of the day
North Korea and Cuba are the only two countries in the world where you can't buy Coca-Cola.