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“There are some pockets of strength and some pockets of not so strong numbers. Services is the other leg which is doing quite well. The number for agriculture is relatively strong at about 4.6%. But this is the early half of the year. When we come to the second half of the year, we might see some of these pockets lose a bit of traction.”

Technical analysts say the chart patterns of benchmark indices do not show indications of topping, nor do the broad market performance point to froth or bubble situations.

“I suspect it is the margin pressure that is really dampening down on the manufacturing performance in Q2 and at least in terms of the outlook for Q3, there are positives and negatives. Q3 clearly kicked off with the good festive season. Some of the heavy numbers like auto output etc. have been pretty decent particularly for passenger vehicles and some other segments.”

The top crypto tokens were trading mixed. Polygon zoomed more than 6%, whereas among the losers, Dogecoin tanked 3% and Litecoin dropped 2%. The global cryptocurrency marketcap was trading mildly higher around $862 billion. The total trading volume was flat at $48.59 billion.

The stock quoted a 52-week high price of Rs 440.75 and low of Rs 206.1.

A total of 3,249 shares changed hands on the counter till 11:16AM (IST)

InterGlobe Aviation, incorporated in the year 2004, is a Large Cap company (having a market cap of Rs 74492.85 Crore) operating in Airlines sector.

Promoters held 51.14 per cent stake in the company as of 30-Sep-2022, while FII and DII ownership stood at 17.72 per cent and 20.94 per cent, respectively.

The stock traded at a P/E multiple of 33.23, while the price-to-book value ratio stood at 12.22.

A host of brokerage firms have initiated coverage on a number of stocks across various sectors, including infrastructure, banking, gold loan, textile and QSR. They majorly have a positive view on these counters and see an upside potential of 155% in these stocks.