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On the technical charts, the RSI of the stock stood at 77.14.

A total of 33,458 shares changed hands on the counter till 01:09PM (IST).

When the closing price falls below the VWAP, it signifies that the closing price is lower than the average price at which it was traded throughout the day, with the average being weighted by trading volume.

In the backdrop of a very strong 2023, Bhandwaldar expects moderation in returns in 2024 atleast for the broader market. Largecaps may outperform mid- and smallcaps in 2024, in his view.

Investors are willing to go beyond the traditional debt and equity instruments.

“We have taken chips off the midcaps, we are putting them into largecaps. Three names, which I can suggest would be HDFC Life. Insurance stocks are hitting new highs. Second would be Godrej Properties. It is a proxy to gold and the stock is hitting all time highs. The third would be L&T Technologies. Presence in defence and allied areas makes it a very good choice.”

Adani Enterprises shares alone have gained about 18% in two sessions. The stock on Tuesday witnessed temporary trading halt after surging 10%.

The stock quoted a 52-week high of Rs 933.5 and a 52-week low of Rs 737.6.

"Instead of taking a static asset allocation based on the current economic environment, anyone with a longer time horizon & moderate risk should have significant allocation towards an agile balance advantage fund. Through the balanced advantage fund, one is taking professional expertise on asset allocation between equity and fixed income. Typically, these funds have lower volatility than the equity index and opportunity for long term compounding."

A total of 2,209 shares changed hands on the counter till 11:52AM (IST).