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Gold futures on MCX were trading higher, gaining 0.36% or Rs 196 at Rs 54,247 per 10 grams. However, silver futures jumped 0.78% or Rs 522 at Rs 67,556 per kg.

Expert: Nooresh Merani, an independent technical analyst told ETNow - IndusInd Bank: Buy| Target Rs 1350| Stop Loss Rs 1160

Citigroup maintained its buy rating on Hindustan Unilever with a target price of Rs 3050. The company announced entry into Health and well-being which is a positive sign, the brokerage said.

If I look at it from a behaviour perspective it is not happening on a immediate basis. But if you look at it from a longer term perspective then maybe it will take many more years to reach that crisis. I do not think it is happening. I think inflation is settling down, when we look at the core CPI number, things are changing globally. So I am not that pessimistic at this point in time the way market participants are.

The stock quoted a 52-week high price of Rs 742.25 and a 52-week low of Rs 455.05.

On the technical charts, the RSI of the stock stood at 69.71.

Hindustan Unilever, incorporated in the year 1933, is a Large Cap company (having a market cap of Rs 640216.63 Crore) operating in FMCG sector.

A total of 4,232 shares changed hands on the counter till 12:13PM (IST).

Jefferies believes that select demand pockets like private capex revival and PLI upside may remain healthy. While recommending a bottom-up approach in stock selection, it has come out with 5 midcap stock ideas for 2023:

China has managed to avert a hard landing by offering a relief package to the residential property developers, whether the sector will see a meaningful recovery remains a medium-term issue, according to GREED & fear.