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Barring Reliance Industries and Hindustan Unilever Limited, rest eight firms, including HDFC Bank, ICICI Bank, State Bank of India and HDFC, made gains in their valuation.

According to an analysis by Motilal Oswal Financial Services, incremental additions of demat accounts have been continuously declining since August. The additions stood at 26 lakh in August, fell to 20 lakh in September and further dropped to 18 lakh in October 2022.

However, going forward, buying by Foreign Portfolio Investors (FPIs) is unlikely to turn very aggressive as high valuations in India are a headwind, said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

In a BSE filing, IEX said, “we wish to inform you that a meeting of the board of directors of the company is scheduled to be held on Friday, November 25, 2022, inter-alia, to consider a proposal for buyback of fully paid-up equity shares of the company.”

“Nykaa can be looked into on booking profits at higher levels. I expect the prices to move up slightly higher because of the deal going through but sans any kind of cash flows coming through, I believe the stock will eventually come off. It is only a bear market rally.”

Upbeat US retail sales data for October and hawkish comments from the Fed officials over the rate hike trajectory dented the market sentiments. Back home, domestic inflation moderated mildly but remained above the RBI’s tolerance level.

“None of us has run a company before and we’d like $100 million by next Tuesday,” Bankman-Fried told David Rubenstein in August about the request. “It was not a very compelling pitch for investors.”

The company, which serves 28 Indian cities, including Bangalore, Hyderabad, Delhi-NCR, Chandigarh, Mumbai, Pune, Chennai and Kolkata, through its online channel, is also looking to have presence through offline retail stores besides expanding its product offerings.

“From a two- to three-year perspective, we are increasing our allocation to IT services. That is one theme which we are playing through. We believe a lot of those midcap IT growth could be higher than what the Street is estimating over the next two to three years and valuations are really attractive.”

“Some consolidation is due and that should happen. I do not think we are out of the woods yet. The slowdown is real and some of it will play out. Some consolidation is there but at the same time, there will be individual opportunities. For the next few quarters, it is a stock pickers’ market.”