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Stocks that were in focus include names like DMart, which declined 1.8%, Delta Corp, which fell 8%, and SpiceJet, whose shares dropped 8.51% on Monday.

Independent market expert Mahantesh Sabarad believes that while the margins of HDFC Bank have not disappointed, the phase of improvement in asset quality seems to be over and future growth may not be uniform across the sector. Sabarad also mentions that the NIM (Net Interest Margin) number is slightly better than expected, and the solid profitability is due to a decrease in overall costs. He cautions that it is too early to determine if HDFC Bank can sustain its growth rate of 18-20% in the coming quarters.

“We have got a lot of stocks and they are very exciting stocks because they moved up – the railways, the defence stocks. Some of them continue to excite us. The playground is much bigger than the current players, market caps tell us right now. So, there is a lot more scope over there, but there is also some scope in the financial market industry.”

India VIX was up by 4.24% from 10.61 to 11.07 levels on Monday. Volatility slightly moved up after the cool-off in the last four sessions and brought some discomfort to the bulls in the market.

The analysis revealed seven stocks which were held by mutual funds across more than 100 schemes as of the last month, and have given high returns in 2023. Of the 7 stocks, four stocks have even turned multibaggers.

From the Sensex pack, HDFC Bank, Tata Steel, Bajaj Finance, and Axis Bank opened with the gains, while HUL, L&T, and TCS opened with cuts.

Jefferies maintained a buy rating on HDFC Bank with a target price of Rs 2030. Higher liquidity buffers drag margins, but it will improve from Q4 onwards.

Avenue Supermarts Ltd., incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 251684.03 Crore) operating in Retail sector.

India has surpassed China in both economic growth and stock market performance in recent years. The MSCI India index has grown 7.5% this year, while the MSCI China index has declined 7.6%. Over a five-year period, Indian stocks have risen 63% compared to a -18% return in the Chinese market. Factors such as infrastructure investment, foreign funds, and retail investors have contributed to the outperformance of Indian stocks.