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The net profit stood at Rs 199.5 crore against Rs 445 crore in the year-ago period. The new business premium for the quarter was 7.3% higher at Rs 4253 crore against Rs 3963 crore.The annualised premium equivalent (APE) grew sequentially, by 32% for Q2-FY2023.

Due to the continued resilience shown by the banking index, the futures open interest has been relatively lower in Bank Nifty, and fresh shorts were not seen during the week. However, stock-specific significant Call writing positions are visible among PSU and private sector heavyweights. Hence, we may see limited upsides in this pack.

The Board of Directors of the Company, at their meeting held on 13.10.2022, fixed the record date as Friday, the 28th day of October 2022, for the purpose of identification of shareholders of the Demerged Company to whom the shares of the resulting company, would be required to be issued and allotted by the resulting company pursuant to the Scheme,” said the filing with the exchange.

A seasonally dull quarter followed by prospects of higher interest rates kept the sector under pressure for a while now. However, incentives from governments like Maharashtra, as well as reports of a surge in housing sales in select cities, present a case of looking out for value buying in this beaten-down sector.

Going forward, FPI flows are expected to remain volatile in the coming months due to ongoing geo-political risk, elevated inflation, expectation of rising treasury yields, etc, Shrikant Chouhan, Head-Equity Research (Retail) at Kotak Securities, said.

The total crypto market cap is now near $900 billion. The market will likely be range bound till November 2, the day the US Fed announces another interest rate hike. Occasional rallies to the upside can occur, however. Macroeconomic conditions globally, including the possible collapse of a major bank (Credit Suisse or Deutsche Bank), can spook the markets in the short term.

“From the market earnings side, we believe this quarter would bear some brunt of the margin impact because of higher input costs but going forward, given that input cost pressures have abated, margins should bottom out and start improving in the second half of the year. Of course, the high frequency data in terms of various indicators seems to support this.”

Investors at first seemed more confident that the Fed would reverse course, but anxiety returned as they worried about how much damage would be inflicted before that happened. Where the markets go from here, and how to position an investment portfolio, depend on whether and how deftly the Fed changes its strategy.

Global markets will continue to be tracked, given that US Fed rate hike fears persist and have kept foreign institutional investors on a sell mode. In the week ended October 14, FIIs net sold Indian equities worth $854 million, compared with just $84 million worth of shares sold in the preceding week.

ACC, Can Fin Homes, Heidelberg Cement, Indowind Energy, Jindal Drilling & Industries, Bank of Maharashtra, Maharashtra Seamless, Oriental Hotels, Pioneer Distilleries, PVR, RPG Life Sciences, Tanfac Industries, Tata Coffee, Tata Metaliks, Thangamayil Jewellery, Elixir Capital, Spandana Sphoorty, Craftsman Automation and Choice International, among others.