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“Our big theme is that it is time to go wide in Indian markets which means that unlike consensus we are bullish on the midcap and the smallcap sectors. They have corrected significantly that valuations are now below those of largecaps and the breadth of investment opportunities is significant. So broadly domestic oriented sectors till the time we get more clarity.”

Interestingly, the study of August returns suggest that the Nifty shuffled between red and green in the month of August during the last one year as it has delivered positive returns in the even years, whereas negative returns in the odd ones.However, 2021 was the only exception when it logged its best performance, rising close to 9 per cent in August 2021. On the other hand, it has gained 1-3 per cent in the August months of 2012, 2014, 2016, 2018 and 2020.

Ferrari guided for adjusted earnings before interest, tax, depreciation and amortization (EBITDA) of between 1.70-1.73 billion euros this year, versus a previous forecast of between 1.65-1.70 billion euros.

Zerodha said that if a customer explicitly takes an F&O trade that causes their account to go into a debit resulting in a negative margin balance intraday or overnight, for example, exiting a hedged position, then the brokerage charges for orders placed during the duration where the account had negative margins, will be Rs 40 instead of Rs 20.

Rupak De, Senior Technical Analyst at LKP Securities said the daily RSI is in bullish crossover and rising. The trend is likely to remain bullish as long as the Nifty50 holds above 17,000. On the higher end resistance is visible at 17,400-17,500, De said.

On the domestic equity market front, the BSE Sensex ended 20.86 points or 0.04 per cent higher at 58,136.36, while the broader NSE Nifty advanced 5.40 points or 0.03 per cent to 17,345.45.

The Nifty Bank index closed 0.32 per cent up at 38024.0.

Silver also fell sharply by Rs 841 to Rs 58,480 per kg from Rs 59,321 per kg in the previous trade.In the international market, both gold and silver were trading flat at USD 1,771 per ounce and USD 20.25 per ounce, respectively.

“In the past, there was more focus on the margin also because in the last five, six years, the company has turned around on the profitability front. Now there will have to be a correct balance between the right level of profitability and the market share which is what the company’s mantra is going to be going forward.”

Total income during April-June 2022-23 fell to Rs 11,124.36 crore from Rs 11,641.37 crore in the year-ago period as income from other sources was down, Bank of India said in a regulatory filing.The core interest income grew 7 per cent in the quarter at Rs 9,972.64 crore, while other income declined by over 50 per cent to Rs 1,152 crore