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“In the medium to long term, soda ash demand is going to be firm and the prices are likely to be firm also. A small dip which has happened this quarter may continue for another quarter. We have taken a price correction of around 2.5% to 3%. I do not see any major drop going forward from here. In my view, prices will remain firm or balanced to firm, going forward.”

The strategists estimate the S&P 500 will end 2023 at 4,000 index points -- just 0.9% higher than Friday’s close -- while Europe’s benchmark Stoxx Europe 600 will finish next year about 4% higher at 450 index points. Barclays Plc strategists led by Emmanuel Cau have the same target for the European gauge and said the path to get there will be “tricky.”

FTX and its affiliates filed for bankruptcy in Delaware on Nov. 11 in one of the highest-profile crypto blowups, leaving an estimated 1 million customers and other investors facing total losses in the billions of dollars.

The 30-share Sensex ended 519 points lower at 61,145, while its broader peer, Nifty50, ended just above the 18,150 mark.

Incorporated in 1965, Sanmit Infra engaged in the disposal of biomedical waste, the supply of petroleum products, and the construction of real estate projects. It is an authorized dealer of Hindustan Petroleum Corporation (HPCL).

“The correction could be nearing an intermediate bottom for the Nifty in the 18,150 to 18,090 level. On the downside, that is a good strong support. Traders can start looking and getting into the markets around those areas. Again on the upside, 18400 will continue to act as a hurdle.”

“We have again turned positive on ITC led by a: a) better-than-expected demand recovery and a healthy margin outlook in Cigarettes, b) healthy sales momentum in the FMCG business, c) smart recovery from the Hotels business,” Sneha Poddar, AVP, Fundamental Research, Motilal Oswal Financial Services, said.

For ICICI Securities, the BFSI space witnessed healthy earnings upgrades (led by corporate banks), while marginal upgrades were witnessed in the FMCG, IT and oil & gas space. Domestic brokerage firm Motilal Oswal has maintained an overweight stance on BFSI, auto, consumer & IT and an underweight stance on energy, pharma and utilities.

Incorporated in 1995, Keystone Realtors is a Rustomjee Group company and is one of the prominent real estate developers. It is engaged primarily in the business of real estate construction, development and other related activities.

Motilal Oswal in its report also stated that almost all the relevant OEMs and auto component players indicated that chip supplies are improving, with full normalcy by mid-CY23. However, the major concern is the continued increase in working capital (due to inventory) which led to an increase in net debt in 2QFY23 for auto companies.