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"It is very important to diversify across sectors in mid and smallcaps. However, we believe that even within the same sector, companies can have diverse outcomes based on quality of management. We have seen examples of the same in sectors such as consumer durable financing and pipes where leading companies have delivered vastly superior returns compared to the average of the sector."

As a result of the massive surge in share prices, the Ahmedabad-based businessman’s wealth grew 116 per cent in the last one year and in absolute terms, he earned Rs 5,88,500 crore, according to IIFL Wealth Hurun India Rich List 2022.

A total of 205,392 shares changed hands on the counter till 10:10AM (IST)

“One should keep some powder dry because there will be heightened volatility in the interim. We definitely seem to be decoupling from emerging markets and right now, developed markets in the short run. But one cannot completely be decoupled if yields go up aggressively and if there is reasonably quantitative tightening.”

HDFC Asset Management Company Ltd., incorporated in the year 1999, is a Large Cap company (having a market cap of Rs 41140.28 Crore) operating in Financial Services sector.

The Nifty Pharma index was trading 0.27 per cent down at 12540.15.

"Wealth creation in the equity market is a mix of variables that are in an individual’s control and certain variables which are not as much. The festive season has brought significant cheer with celebrations after two years of disruptions thus fueling demand for discretionary categories like apparel, jewellery, footwear, retail, hotels etc. The expected strong earnings outlook has led to a run up in most stocks in the discretionary space."

Fortis Healthcare Ltd. key Products/Revenue Segments include HealthCare Services, Other Operating Revenue, Lease Rentals, Pharmaceuticals and Export Incentives for the year ending 31-Mar-2022.

Mishra Dhatu Nigam Ltd., incorporated in the year 1973, is a Mid Cap company (having a market cap of Rs 4191.89 Crore) operating in Metals - Ferrous sector.

At 9.18 am, the BSE Sensex was trading 419.41 points or 0.71 per cent lower at 59,037.37. Nifty50 was trading at 17,585.70, down 132.60 points or 0.75 per cent.