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The benchmark 10-year government bond yield ended at 7.1077%, lowest since Apr. 27. It had risen five bps in last two sessions, to end at 7.1811% on Monday. The 10-year 7.26% 2032 bond yield ended at 7.0789%, after closing at 7.1354% on Monday.

“There could be a little bit of softness in terms of growth kicking in over the next six to nine months but having said that, India is a much more domestic growth story. We should comfortably be able to have a growth of 6-7% this year and get back to 7% growth in FY24-FY25.”

“Large banks have been leading the rally in the market for the past three odd months and my sense is that large banks is the way forward because while credit growth has been growing quite rapidly, deposit growth has not grown at equal measure. So, the small banks will face an issue related to raising of funds and deposits.”

“Cement has benefitted from the fall in raw material cost and that 30-40% drop will add to the EBITDA level. Clearly volumes are going to pick up and the largest amount of uptick will happen in the South which means companies like Dalmia Bharat, Ramco Cements as well as national players like UltraTech will benefit. JK Lakshmi will benefit from sheer valuation comfort.”

At 9.17 am, the BSE Sensex was trading 349.13 points or 0.58 per cent higher at 60,464.26. Nifty50 was trading at 18,035.50, up 99.15 points or 0.55 per cent.

The stock recently gave a breakout from the neckline of the inverse head and shoulder pattern earlier in September and the formation of a flag pattern on daily charts adds to a bullish stance.

The Nifty Realty index was trading 0.0 per cent at 480.4.

The partially convertible rupee firmed to 79.16 per U.S. dollar, its highest level since Aug 5, compared to the previous close of 79.5225. It outperformed emerging market peers that were mixed despite weakness in the dollar index.

If you had one share of Bajaj Finserv, your shareholding in the stock shall increase by (1x5x2) considering a 5:1 stock split and 1:1 bonus shares. For every share held post the split and bonus in Bajaj Finserv, you will own 10 shares and its share price will also reduce by one-tenth to Rs 1700 per share.

The stock traded at a P/E multiple of 33.59, while the price-to-book value ratio stood at 4.97.