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The GST on all medical services should be scrapped and a compulsory discount on medicine should be implemented where such medicines have to be bought in hospitals, as well as limiting the MRP of medicines to no more than twice the price at which the company sells them to distributors.

Key levels would be 17,770-17,800 on the downside and 18,250 zone on the upside which if breached decisively can trigger for fresh upside move

“China reopening is a big theme for the global commodity prices and demand which could lead to some support for the metal stocks specifically. If you look at some of the base metal prices, they have been hitting three month, six month highs. ”

“The Fed might have an opportunity to dial back a little bit on the aggressive rises that we have seen. In that case, we will become accustomed to perhaps a 25 bps hike in February rather than 50 bps. The market might expect green shoots of an easing cycle by the end of 2023. One can see markets moving in a way that will get slightly ahead of the path of central banks’ tightening policies.”

We still think that the RBI would not turn too restrictive. But we reckon the situation is fluid and the extent of global disruption and disinflation will remain key to the RBI’s reaction function ahead,” economist Madhavi Arora at Emkay Global Financial Services said.

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Growth in the net interest income for the lender was the strongest in at least three quarters. The net interest income for the reported quarter increased nearly 25% on-year to Rs 22,988 crore. In the preceding three quarters, the growth in net interest income was 10-19%.

Right now it is the internet and the technology shares of China and the consumption oriented ones which are getting money, so a little surprising. Secondly, given the dollar level, normally you would see emerging market inflows coming in and growth stories like India tend to benefit whenever the dollar index starts to go down.

The stock has managed to give a breakout of the last two trading sessions’ corrective moves. Looking at the overall setup, we are bullish on Canara Bank and we expect that this upward momentum is likely to continue towards the Rs 335-340 zone. So, Canara Bank is a ‘buy’ with a stop loss of Rs 318.

Capital goods is an average performer and is mostly placed in the middle of the table. Healthcare and FMCG stand true as defensive sectors with positive returns in 7 and 9 out of the last 10 years respectively.