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Lending oil some support, the dollar weakened on Wednesday after posting big gains in the previous session. A weaker dollar typically boosts demand for oil as dollar-denominated commodities become cheaper for holders of other currencies.

From the Sensex pack, Bajaj Finance and Bajaj Finserv were the top laggards, falling over 5%

" If you look at historical patterns of the last 50 years, once the trend changes, it typically lasts for two, three years at least. So those investors who are used to investing in highly valued growth stocks will keep on investing in those stocks and they will keep on underperforming. I think that is the challenge which investors will face."

The company states that the quality of its profits should see meaningful improvement, led by gross margin recovery and continued marketing investments translating to high single-digit EBITDA growth

“Coming to the complex generics opportunity, Cipla and Lupin are most exposed. We like Cipla more than Lupin because at least in the near term, there are multiple assets waiting to play out. For Cipla this year, we are hoping to see generic Advair, generic Abraxane which is most likely in the price but beyond that, there will be a generic Qvar, there will be a generic Teriparatide and potentially a generic Flovent as well.”

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“For our IT services companies, the fundamentals have not been as bad as what the stock performance appears to show. So yes, it has had but the point is that those are what we call tech companies in the US. Microsoft, Google etc are completely different from our services companies.”

From the 30-share pack, Bajaj Finance and Bajaj Finserv were the top losers, falling over 6%. ICICI Bank, Power Grid, Titan, Infosys, Axis Bank, Wipro, and Tech Mahindra were also traded with cuts.

The brokerage likes Astral for its leadership presence in the CPVC segment, strong retail franchise, superior revenue/earnings growth, and healthy return ratios. Astral has also forayed in paints and bathware businesses in FY23.

A total of 5,516 shares changed hands on the counter till 01:43PM (IST)