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“In the case of large caps, the valuations are getting into a range where they will be considered expensive compared to where they have credit in the past. But midcap is where the rally has not happened in financials and I would be quite bullish on that space. The other part of the financials which is still inexpensive is the insurance part.”

Futures are now pricing in a 1-in-3 chance that the Fed will raise rates by 100 bps next week. Prior to the inflation data, the debate among market participants was whether the Fed will deliver a 50 bps or 75 bps hike.

Meanwhile, elevated supply of bonds in the second half of this financial year will bring focus back to incremental demand, resulting in a gradual rise of yields, the house said.

The Nifty Realty index closed 0.69 per cent down at 476.25.

According to the data from BSE, 24,76,925 shares exchanged hands in early trade. Similarly, 3,84,31,431 shares exchanged hands on National Stock Exchange (NSE).Shares of Coffee Day Enterprises have risen as much as 153 per cent from their 52-week low.

“The proposed semiconductor manufacturing fab unit will operate on the 28nm technology nodes with wafer size 300 mm; and the display manufacturing unit will produce Generation 8 displays catering to small, medium and large applications,” a joint statement released on Tuesday read.

ETMarkets have considered only those stocks that have doubled wealth in the second half of the last two fiscal years (2HFY20 and 2HFY21). Further, we picked only stocks with a market cap of Rs 500 crore and exclude companies that made losses in any of the last 2 fiscal years.

For the quarter ended June 30, 2022, the company has reported a consolidated total income of Rs 72822.02 crore, down 8.22 % from last quarter total income of Rs 79341.61 crore and up 8.71 % from last year same quarter Total Income of Rs 66988.05 crore.

“Prestige and Brigade are the two names where we see a 30% upside. Apart from that, Bombay being a big market, Lodha and Oberoi are our preferred picks in the Mumbai market. In auto, there is strong growth visibility in Maruti and Mahindra & Mahindra and in two-wheelers, we like Hero Motor.”

A total of 18,181 shares changed hands on the counter till 01:45PM (IST)