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The sharp rally in Indian equities in the past few months, which took benchmark indices to all-time highs, was primarily led by sectors such as automobiles, capital goods, and fast-moving consumer goods, while sectors such as metals and information technology lagged. While consensus estimates for Nifty50 earnings growth for FY24 witnessed a cut, it wasn’t steep enough to cloud growth prospects.

With Nifty ending the last 3 August months on a positive note, the overall trend has been more bullish than bearish as there have been 7 winning instances in 12 years. While August 2021 was the best for the index during the period with a monthly return of 8.7%, 2011 was the worst with wealth erosion of 8.77%.

Jefferies downgraded GAIL India to underperform with a target price of Rs 105. The June quarter was a weak print with misses in transmission and Petchem compensated by a beat in trading.

Adani Ports & Special Economic Zone, incorporated in the year 1998, is a Large Cap company (having a market cap of Rs 166503.51 Crore) operating in Shipping sector.

The stock quoted a 52-week high price of Rs 54262.3 and a 52-week low of Rs 34968.6.

Forex traders said the rupee is expected to trade with a negative bias on the strong dollar and some selling by FIIs over the past couple of sessions. However, positive domestic markets cushioned the downside, they said.

​But you know, there is a case we are finding that in a lot of pockets, euphoria is getting built up, especially select pockets where mid-size businesses or the IPO frenzy which is building up.

The Relative Strength Index of the stock stood at 47.8 on Tuesday.

​So, it is a cyclical change which can last for 5-10 years in terms of growth rates in utilities or power utilities.And as you know, the size of these markets is very-very large. We are looking at billions and billions of dollars of investment happening and there are only a few real good quality balance sheets in India who can actually deliver this.

A total of 68,933 shares changed hands on the counter till 10:40AM (IST).