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Indian equities may be trading closer to their historical averages on a forward earnings basis, but valuations in the broader market appear stretched. In light of this, Vivek Goel, of Tailwind Financial Services, recommends moving to a balanced portfolio and increasing allocation to hybrid funds to bolster debt exposure. Goel also suggests favoring largecap stocks due to their relatively lower valuations compared to the broader market.

The Relative Strength Index of the stock stood at 66.08 on Thursday.

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CLSA maintained a buy rating on ICICI Lombard with a target price of Rs 1550. Motor segment is picking up momentum with each passing month.

The Nifty Auto index was trading 0.05 per cent down at 16275.65.

Stocks that were in focus included names like REC, which rose 6.06%, Suzlon Energy, which dropped 1.54%, and Hudco, whose shares jumped 2.63% on Wednesday.

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Dollar shines as oil surge spooks investors

Updated at : 2023-09-28 09:20:02

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Dollar/yen hit 149.71 on Wednesday and traded at 149.40 on Thursday in Asia. The euro dropped 0.7% to a nine-month low of $1.0488 on Wednesday and last bought $1.0511. It is down more than 3% in September to eye its largest monthly fall on the dollar since April 2022.

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