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The Dow Jones Industrial Average fell 95 points, or 0.3%. The S&P 500 and Nasdaq Composite dipped 0.3%, respectively.

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Looking at the technical setup, the market is likely to trade within the range until a decisive breakout is not seen on either side in the comparable period. Going forward, many stock-specific adjustments are likely to continue and provide substantial trading opportunities.

On portfolio construct in terms of the market cap, we have been most overweight on midcaps in the last couple of years. We would be significantly overweight on midcaps followed by largecaps, followed by smallcaps Midcaps over three years, five years and 10 years have significantly outperformed both largecaps and smallcaps.”

Further, the bank ranked No. 1 in Smart Lending for Aspiring India and New Age 24X7 Banking and secured the third spot in Tech-Enabled Ease of Banking, Institutionalizing Prudent Banking and Governance & Outcome-centric HR.The scrip settled nearly 3 per cent higher at Rs 141.10.

The footwear market is undergoing a unique transformation over the last few years. India’s young populace with high aspirations and having an improved fashion quotient is driving demand, especially for Casual, Athleisure, Sneakers and Women’s footwear, et al., as many brands have made deeper inroads in this space through the EBO channel given the huge growth potential

HUL is the leader in 80 per cent of its product portfolio with an excellent product development strategy and strong distribution backing. More than 75 per cent of products gained volume and value market share in FY2022. The company’s 16 brands garner revenues of more than Rs 1,000 crore, while the two brands have revenues of above Rs 5,000 crore.

“In a rising interest rate scenario with good credit growth, I would prefer banks over NBFCs. Other spaces like insurance, asset management companies, brokerage, tend to be different. Insurance is more stable because there is visibility of first year premiums, renewal premiums and the income of the existing book. AMCs and brokerage houses tend to be a little more cyclical.”

“We are looking at something like 41 million tonnes of sucrose and our domestic consumption is anything between 27 and 27.5 million tonnes. Diversion to ethanol directly as part of juice could be another 5 million tonnes. We would still need to export and that could be anything between 8 to 8.5 million tonnes.

The Nifty50 formed a Hammer-like candle on the daily charts, a bullish sign provided we see a follow-through in Tuesday’s session as well. A Hammer is formed after a price decline. It has a small real body and a long lower shadow. The Nifty50 opened higher, but bears pushed the index towards an intraday low of 17,429 before reversing the trend.