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“The market has fallen quite substantially and there is absolutely no point in selling stocks if we are holding good quality stocks. I have been bullish on like L&T, I believe is going to be doing very well going forward and if somebody is building their portfolio after correction, L&T definitely is a good buy at current level.”

“The midcap PSU banks saw 50%-100% kind of moves. Some of that also was just more like mean reversion or extrapolation of some sentiment on the banking sector and ‘spread the cheer’ kind of rally. That was probably unsustainable and when we get into 2023, I am not very hopeful of the next three-four months.”

The S&P BSE Sensex fell nearly 1000 points on Friday while the Nifty50 managed to hold on to 17,800 levels.

Automakers are keeping an eye on potential dampeners such as a persistent high inflation, price increase on the back of regulatory changes and higher borrowing costs, notwithstanding a robust order book of nearly 750,000 units of passenger vehicles (PVs) as on November 30, said industry executives.

The structure of the counter looks distorted as it has given a closing below the 200-SMA and is also trading below all its important averages. MACD and RSI are showing weakness and supporting the trend.

Appetite for risk taking was damped by concerns over China’s ability to cope after abandoning its Covid Zero policy. This was most evident in a drop in the Australian dollar, which is particularly sensitive to the outlook for demand in China.

"Going forward, we expect card expenditure to moderate further over the next couple of months due to the end of festive season and inflationary impact on consumer spending," said Bunty Chawla, analyst, IDBI Capital.

The resolution professional, Saurabh Kumar Tikmani backed by KPMG, invited lenders last week to vote on the resolution plans given by the PFC-REC team, Adani Power and Reliance Industries. The voting will end on December 30.

Market capitalisation of Suven Pharma, as on Friday, was ₹12,682.43 crore. ET was the first to report on the sale on December 23. Advent is using Cohance Lifesciences as the vehicle for the acquisition. The platform was created last month for its active pharmaceutical ingredient (API) and contract development and manufacturing businesses comprising three portfolio companies - RA Chem Pharma, ZCL Chemicals and Avra Laboratories.

Chanda Kochhar and her husband Deepak Kochhar were arrested by the Central Bureau of Investigation (CBI) last week in connection with alleged cheating and irregularities in loans sanctioned by ICICI Bank to Videocon Group companies. A special court in Mumbai on Saturday remanded both of them to CBI custody until December 26.