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MCX December gold futures were trading at Rs 60,977 per 10 gram, up by Rs 151, or 0.25%. They are at five month high levels. Meanwhile, the December Silver futures were trading at Rs 71,955 per kg, higher by Rs 168 or 0.23%.

Sona BLW Precision Forgings Ltd., incorporated in the year 1995, is a Small Cap company (having a market cap of Rs 30866.04 Crore) operating in Auto Ancillaries sector.

A total of 6,301 shares changed hands on the counter till 11:01AM (IST)

“Given the high interest rates, a fair bit of allocation that has shifted to debt instruments and given the kind of risk-off globally, a bit of a move into gold and other precious metals is also happening at this point in time. However, a substantial portion of our assets remain invested in equities and that share will rise as stock price correct.”

Anirudh Garg, Partner & Fund Manager at INVasset LLP, discusses the performance of the INVasset Growth Fund and their investment approach. He highlights the belief in the growth potential of the Indian economy and aims to achieve returns of 1.5 to 2 times that of the Nifty. Garg also mentions the success of their fund, with one investor seeing their investment grow from Rs 55 lakh to approximately Rs 2.05 crore.

Daljeet Singh Kohli, Head of Strategy & Research at Vasuki India Fund, believes that the recent market correction provides an opportunity to buy stocks at cheaper prices. He suggests looking at sectors such as agrochemicals, autos and auto ancillaries, metals, and consumption companies. Kohli also mentions that IT stocks, although facing some delays, are still worth considering for long-term investing. Additionally, he highlights the potential growth in export textiles, particularly home textile companies.

The Nifty October series rollover currently stands at 62.96% while the open interest-wise put-call ratio (PCR) stands at 0.56 for the October monthly series, which indicates a flat-to-bearish bias for the monthly expiry.

India VIX was up by 3.78% from 10.90 to 11.31 levels in the previous trading session. Volatility spiked to 12.17 zones during the day and paved the way for the bears to take over the market.

“This is sort of an opportunity in adversity. There are a lot of opportunities in the capital goods and allied sectors like bearings, power ancillaries. As a theme, if one plays capex very well, plus credit growth, plus a lot of the banks which support capex, this as a theme would play out very well. ”

Among the Sensex stocks, Tech Mahindra and M&M fell around 2.3% each. Tata Motors, Bajaj Finserv, Bajaj Finance, Asian Paints, and Tata Steel also opened lower. Whereas only Axis Bank, HCL Tech, and IndusInd Bank opened higher.