Most companies in India today, in whichever sphere they operate, are beefing up their IT capabilities. Banks have been compelled to do so as customers prefer transactions on the app or online.
In their September quarter earnings commentaries, top FMCG players like HUL, ITC and Nestle flagged worry over uneven rains, the impact of crop output and rising prices of some commodities (wheat, maida, sugar, potato, coffee, etc).
Despite an early dip, the Nifty, however, showed remarkable resilience, rebounding 113 points to conclude the session 46 points down at 19,625. The Sensex, which fell 843 points in the last six trading sessions, closed at 65,629.