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"We expect banks, manufacturing, and capital goods segments to do well. Budget spending on defense and infra, interest rates peaking and continuing push to Make in India & China + 1 factors are the basis of our expectations. Defensive sectors like Pharma will also be important to combat possible market volatility due to news flow and macro events."

Despite the ongoing output cut by Saudi Arabia and other members of OPEC plus countries, oil output from the cartel has risen for the third straight month in October. This was due to increased production from Nigeria and Angola. Small members in the group have also contributed by managing to overcome factors affecting output and supply. As per the Reuters report, the group pumped 27.90 million bpd in September, with an increase of 180,000 barrels per day.

Palladium tumbled to five-year lows below $1,000 an ounce, hastening a retreat triggered by expectations of surpluses due to the rapid spread of electric vehicles and automakers choosing cheaper platinum for their autocatalysts.

Brent crude futures for January were up 99 cents, or 1.2%, at $81 a barrel at 1451 GMT, while U.S. West Texas Intermediate (WTI) crude futures for December were at $76.67, up 93 cents, also 1.2%.

Powell and other Fed officials said on Thursday that they are still not sure that interest rates are high enough to finish the battle with inflation, with Powell saying that the Fed may get further help in taming price increases from improvements in the supply of goods, services and labor.

On a standalone basis, net profit stood at Rs 847 crore for the quarter ended September 2023, up 55% from Rs 548 crore clocked in the previous year quarter. Revenue from operations rose 12% YoY to Rs 20,676 crore. The company reported an EBITDA of Rs 1,756 crore in the second quarter under review, and margins were at 8.5% in the same period.

On November 9, Thursday, StockEdge highlighted a trend with 18 stocks witnessing a downtrend in Relative Strength Index (RSI). ETMarkets narrows the focus to 5 stocks, unraveling the implications of RSI movements and why investors should pay attention to these signals.

Investment income during the second quarter increased 30% YoY to 47.5 crore. The same stood at Rs 36.6 crore in the corresponding quarter of the previous year. Operating EBITDA for the reporting quarter grew multifold to Rs 142 crore against just 13.4 crore in the last year quarter