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On October 31, several major stocks achieved a remarkable milestone by surpassing their 200-day SMA, signaling potential shifts in their stock trends.

The assets under management or AUM in these products have grown more than three times in the last five years and twice as fast as the growth being witnessed in mutual funds, he said. The above growth estimates are based on favourable market conditions with the pace of growth remaining the same.

The Dow Jones Industrial Average rose 29.00 points, or 0.09%, at the open to 33,081.87.

The earnings for interest, tax, depreciation and ammortisation (EBITDA) rose 7.5% to Rs. 3179.4 crore in Q2, and EBITDA margins declined 90 basis points YoY to 26.1%. India formulation sales rose 11.1% YoY to Rs. 3843 crore in Q2FY24. India accounts for 32% of Sun Pharma sales

It has specialized chemistry capabilities in contrast to media intermediates and high-intensity sweeteners. The company has built a long-term customer base of innovator and multi-national generic pharmaceutical companies, supported by multi-year contracts.

"The BFSI space has held up well. Midcap IT has produced another quarter of stupendous earnings and management commentaries are pointing out towards no damage to probably come from either the pricing action or demand dynamics at least at this juncture. A few of the capital good companies obviously have reported a strong set of numbers and though cement companies have disappointed, the reason is obvious. Q2 is expected to be weak for monsoons."