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On the technical charts, the RSI of the stock stood at 43.65.

PFC shares rose 6% to Rs 501.65 on BSE after posting a 20% increase in Q1 FY25 net profit to Rs 7,182 crore. Total income grew to Rs 24,736.68 crore. The board also approved an interim dividend of Rs 3.25 per share, with August 20 as the record date.

​So, from that perspective, real estate looks good to us because what will happen that at this point in time the premium segment of the market was doing well and our sense is that with this kind of anticipation of further rate cuts and amendments like these, the growth will broaden up. Overall sense is that the double-digit kind of a pre-sales growth has been largely maintained by most of the players, but valuation also has inched up.

​On August 6, four Nifty500 stocks fell more than 3% below the VWAP, indicating a potential bearish trend. This suggests increased selling pressure as closing prices drop below the average traded price.

Buying action surged across nearly all real estate stocks, with the Nifty Realty index climbing approximately 1.5%, driven by gains in DLF, Macrotech, Oberoi Realty, Prestige, and Godrej Properties.

Gold October futures at MCX opened flat at Rs 68,752 per 10 grams, down 0.31%, while silver was trading at Rs 79,433/kg, down 0.24%. Gold fell due to a rebound in the dollar index. Silver recovered due to positive German factory orders data and bargain buying.

Seth R Freeman of B. Riley Advisory Services observed a notable increase in bankruptcies and how refinancing challenges impact businesses. He discussed the influence of higher interest rates and market dynamics, particularly on mid-sized enterprises and tech stocks. Freeman emphasized the volatile economic landscape and the need for careful navigation of the current financial climate.

Indian equity markets saw high volatility, causing a Rs 1.57 lakh crore fall in market capitalisation. InCred Equities recommended cutting investments in six stocks: Clean Science and Technology, Exide Industries, IndiGo, PG Electroplast, SBI Cards, and Tata Steel, citing competition and operational hurdles. The brokerage firm provided specific target prices and reasons for each recommendation.

As of 30-Jun-2024, promoters held 0.0 per cent stake in the company, while FIIs held 18.32 per cent and domestic institutional investors had 22.75 per cent.