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As of August 23, 2023, several stocks have risen above their 20-day Simple Moving Average (SMA), indicating potential shifts in momentum.

"Infrastructure and cement sectors offer good value in the market. He notes that the infrastructure sector is richly valued due to the order book and future growth, while the cement sector has experienced a price correction and is now undervalued," says Sunil Subramaniam. . However, he does not consider PSU banks to be undervalued, as there is always a discount compared to private sector banks. Subramaniam also expresses concerns about the metals sector.

The Securities and Exchange Board of India (Sebi) conducted an examination of SIMR before issuing a show cause notice on July 11, 2023, for alleged violations.

The government is tasked with overseeing at least one review of the International Monetary Fund (IMF) $3 billion standby arrangement; and steering the country through to a national election that is in theory due to take place by November.

Federal Reserve Chair Jerome Powell will speak at Jackson Hole on Friday around U.S. trading hours. His comments will be watched for any cues on whether more rate hikes are needed and what he makes of the recent move in U.S. Treasury yields.

The IPO comprises a fresh equity issue of 1.38 crore shares and an offer for sale (OFS) of 30.4 lakh shares. About 50% of the offer is set aside for qualified institutional buyers, 15% is reserved for non-institutional investors, and 35% for retail investors.

The Relative Strength Index of the stock stood at 60.82 on Thursday.

A total of 235,327 shares changed hands on the counter till 02:00PM (IST)

Jio Financial Services hit the 5% lower circuit for the fourth session in a row since listing on Monday.

“Some of these stocks do have value. They had not participated. They were deeply undervalued and now the market is finding some value in them. Some of these, especially the public sector stocks, could continue to do well on the back of strong order books, strong demand and growth in business.”