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Hindalco Industries Ltd., incorporated in the year 1958, is a Large Cap company (having a market cap of Rs 90336.34 Crore) operating in Metals - Non Ferrous sector.

“BFSI as a sector looks very interesting and particularly private sector banks like HDFC, Kotak, Axis Bank and ICICI Bank are capex oriented plays. We are seeing numbers of all of these companies coming out with flying colours. So. one needs to increase SIPs in equities, maybe also into banking SIPs if somebody is a little more of risk-taker but at least increase their banking allocation into their portfolios.”

Citing a slowdown in economic growth, pressure on current account deficit due to soaring oil prices and compression in the margin cycle, James Sullivan, Head of Asia Pacific Equity Research, JPMorgan, said they are taking a relatively cautious outlook for India as a whole.

“Banks have borne the maximum brunt of FII selling which continues unabated even now. Once that settles down, we have seen some of the stocks like ICICI Bank, HDFC Bank seeing some kind of consolidation. Once this massive selloff from FIIs abates, these would be the ones which pick up first as the market recovers.”

On PNB, Morgan Stanley said Q4 profit was 81 per cent lower than its estimates despite a big beat on costs.

Cera Sanitaryware Ltd., incorporated in the year 1998, is a Mid Cap company (having a market cap of Rs 5166.19 Crore) operating in Building Materials sector.

In the IPO, Delhivery will issue fresh equity shares worth Rs 4,000 crore. Existing shareholders and promoters will offload shares worth Rs 1,235 crore.

Among Sensex stocks, Mahindra & Mahindra fell 2.5 per cent to Rs 864.35. Tata Steel declined 2.46 per cent to Rs 1,137.60. Bajaj Finance fell 2.41 per cent to Rs 5,666.50. UltraTech Cement, HDFC Bank, Sun Pharma and IndusInd Bank were some other Sensex stocks, which declined over 2 per cent.

The dollar index, which measures the greenback against six major peers, slipped about 0.1% to 103.92 on Thursday, but was still close to the 104.19 level reached at the start of the week for the first time since late 2002. The consumer price index climbed 8.3% on an annual basis in April, easing from 8.5% in March but outstripping the 8.1% estimate of economists.

Stocks fell and the dollar held firm on Thursday as data showed U.S. inflation persistently high, and investors worried about the economic toll of aggressive interest rate hikes to tame it. U.S. markets whipsawed after the news, then closed sharply lower. S&P 500 futures rose 0.5% in a bumpy Asia session. Foreign exchange trade was also volatile, but has left the dollar index within a whisker of a two-decade high.