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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.

“We hereby inform that a meeting of the board of directors of the company is scheduled to be held on Wednesday, November 23, 2022, at 11:00 A.M through video conferencing, inter alia, to consider and approve the allotment of bonus equity shares,” the company said in a BSE filing.

"Financial markets are trying to find the balance between the room for further rate hikes versus the extent to which the U.S. and global economy will slow," said Masayuki Kichikawa, chief macro strategist at Sumitomo Mitsui Asset Management.

Market participants believe that new highs are on the cards. Analysts suggest that positions in select stocks can reward investors.