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“In terms of policy statement, definitely the next three inflation prints are going to surprise positively because of the base effect turning favourable. It is going to provide relief to the MPC members at a time when there is a lot of pressure looking at other EMs to hike policy rates.”

Multiple stocks hit upper circuit limits during the session, surging 20 per cent each. Realty stock Sobha and select jewellery stocks were in demand after they posted strong September numbers. Tata Motors gained after an upgrade. Nelco and Srei Infra hit lower circuits.

The Nasdaq Composite gained 129.89 points, or 0.90 per cent, to 14,631.80 at the opening bell.

Nifty50 formed a small-bodied candle and an Inside Bar on the daily scale, which indicated a tug of war between the bulls and the bears.

“Directionally, real estate still should be good over the next few years but none of these stocks are in the undervalued zone.”

In the international market, gold traded in the green at $1,766 per ounce and silver flat at $22.74 per ounce.

All segments of the market saw buying, especially led by realty names that rallied on the back of Q2 sales updates. Auto stocks along with the IT sector also buzzed throughout the day.

"Unlocking value from investments and land banks will be a very big opportunity. These are the five, six themes the retail investor should bank on."

“The rate cycle is going to continue very aggressively and even in this quarter, we will see strong performances across all the IT companies.”

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