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Price close above upper band of falling channel containing last two months decline signalling technical pullback likely in coming sessions.

“Most multi asset allocators have a reasonably high skew towards equity as an asset class over and above the mandatory requirement. Given that these are not categories which are recommended from a one year perspective, one could initiate investment but typically, even these are investments which play out full mettle over a three-year horizon.”

Indian Oil Corporation, incorporated in the year 1959, is a Large Cap company (having a market cap of Rs 110286.87 Crore) operating in Gas & Petroleum sector.

The government is also expected to ensure enough spending to revive the rural economy ahead of the elections. According to Nomura analysts, election related spending can support demand in sectors like FMCG and two-wheelers.

Hero Motors, the auto components arms of Hero Motors Company Group, has raised growth equity capital from private equity firm GEF Capital Partners and its LPs for 10% stake to expand its EV venture, as part of which it will set up new facilities in India and Thailand.

The FMCG major, Marico expects to post low single-digit YoY growth in the consolidated revenue for the December quarter. It expects gross and operating margins to improve both YoY and sequentially, but operating profit could see a moderate growth.

Economic data also released on Wednesday revealed that U.S. job openings fell less than expected in November, though a survey from the Institute for Supply Management (ISM) showed that U.S. manufacturing activity contracted again in December.

One reason we are more constructive on equities in 2023 is the big drop in sentiment during 2022,” Bank of America’s strategists including Savita Subramanian wrote in note to clients. “It has been a bullish signal when Wall Street strategists were extremely bearish, and vice versa.

Based on the submissions made by the company and its commitment to strengthen its recovery practices and outsourcing arrangements, tighten the process of onboarding third party agents and strengthen accountability framework as per its Board approved action plan, the RBI has informed the company of its decision to lift the restrictions.

On Wednesday, the resolution applicants submitted a resolution plan to the administrator, giving details about the upfront and deferred payments, employee payments, trade creditors and other conditions.