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The surge in household liability, rising by 76% largely going into purchases of houses and automobiles was seen as a sign of rising prosperity.

“I have not found an investable opportunity in AI that I have been able to engage with yet. There is a problem. It is quite hard to invest in companies outside from an India perspective. And looking from an India lens, I have not found anything investable here right now.”

A total of 4,444 shares changed hands on the counter till 10:51AM (IST).

Promoters held 28.07 per cent stake in the company as of 30-Jun-2023, while FIIs owned 16.72 per cent, DIIs 19.59 per cent.

Sterling & Wilson shares are currently trading above their 50-day and 200-day simple moving averages (SMAs). After Monday’s rally, the stock now trades in a strongly overbought zone as suggested by Trendlyne. The day’s RSI and MFI are at 81.2 and 92.3, respectively.

The Nifty futures closed positive with gains of 0.02% at 21079 levels on Monday. India VIX was up by 2.31% from 12.47 to 12.75 levels. Volatility was slightly high but created momentum for new price territory in the market.

"Apart from elections, stronger economic growth and improving earnings outlook should bode well for equities over the next one year. As long as India has the right structural and fundamental themes, I believe 2024 will be good for the investors. There is a possibility of increased FII flows in 2024, given expectations around political stability and peaking/falling interest rates, especially towards the second half of the year."

Companies in defensive sectors such as health, medical innovation and exporters in the electric vehicles supply chain and advanced manufacturing, as well as multinationals such as e-commerce firm PDD Holdings, will top the list.

“Sebi has taken a step in the right direction by ensuring that this minimum amount is spread across the industry and not just a few fund houses like mutual funds and secondly, hopefully we will be able to reduce the friction cost, the KYC cost and the payment cost so that it becomes profitable transaction for the industry.”