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Technology heavyweights led the Nikkei higher, with chip making equipment maker Tokyo Electron rising 1.9% to provide the biggest boost to the index. Wafer maker Shin-Esu Chemical gained 3.01%, while air-conditioning maker Daikin Industries rose 1.18%.

“The company’s financials are good in the sense that they generate a good amount of free cash flow but on the other hand, when I compare FY22 to FY23, the growth is not that meaningful. The company’s margins are very low in the sense that it is a dealership business at best which has no moat but at the same time, a lot of premiumisation is happening in the economy.”

The index had rallied more than 1% on Tuesday as equities globally received a boost from softer-than-expected U.S. inflation data that raised hopes of the Fed shifting to smaller rate hikes.

Catering exclusively to the financial services & technology industry, Finbridge Expo has become a mainstream platform for many financial service providers to showcase their products and services. The event would be held from December 17-18 at Nehru Centre, Worli, Mumbai from 17th – 18th December.

“The Fed is likely to temper the pace of its rate hike and it will be good news for the world at large.More importantly, the dollar strength which has led to so much rupee weakness, might also ease. We are stepping into the New Year with the war against inflation not won but certainly many battles have been won.”

“We find Abans being one of the beneficiaries of the government reforms," said the brokerage. "Moreover, despite the shocks in the past such as the pandemic and current geopolitical situation, Abans Holding was able to grow at PAT levels in the last two years." The company operates in a highly competitive environment and a crowded space where there is little differentiation in terms of product offerings.

Colgate-Palmolive (India), incorporated in the year 1937, is a Large Cap company (having a market cap of Rs 43059.41 Crore) operating in FMCG sector.

In a regulatory filing, the company said that the company has received approval from a US company to buy a mass quantity of flanges, forged fittings and other components.

Later, MCX informed that it is in process of modifying the cotton contract specification and no fresh position would be permitted in cotton January 2023 contracts and the subsequent expiry contracts till such time the revised contract specification gets finalised.

“The reason we think next year is going to be worse than this year is because that is when we really see the consequences of all the monetary policy tightening that has happened around the world because as we know empirically it affects it with the lag and we will see that happening next year; but there is still a lot of uncertainty.”