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The STOXX 600 rose 1.1% by 0932 GMT. The European basic resources index surged 4.6% to a seven-week high and was set for its biggest weekly gain in more than three months.

The Hyderabad-based Filatex Fashions is likely to carry out this deal for a consideration of $7.55 million or about Rs 62.33 crore. The company is in the process of reaching certain preliminary understandings for the proposed acquisition.

In China and India, the assets that are invested in risk-bearing financial securities are often put into higher-risk products with high return expectations. Allocation of funds is generally more equity-heavy in these markets, it said. In markets like the US, 60% in equities and 40% in bonds has been the mainstay of financial advice for decades, and it continues to be so in multi-asset funds, Morningstar said.

Global brokerage firm Nomura has set a target of Rs 2,850 on the stock saying that the Q2 numbers were in line and asset quality continued to improve. "HDFC continues to gain market share in core mortgages, despite the increased competitive intensity," Nomura analyst Nilanjan Karfa said.

“In the last six days, we have seen FIIs buying to the tune of Rs 14,000 crore, In the last two months, the selling intensity has come down. From here on, for the next six to eight months, it has to be a bottom-up approach rather than a top-down approach and look for companies which can probably weather this global storm.”

The brokerage continues to build-in reasonably strong GRMs over FY23E-FY24E for HPCL, coupled with the rising throughput, will be a key driver of earnings. However, the extent of losses in marketing remains too material to be offset by refining. Furthermore, while the brokerage does build-in a substantial narrowing of losses over the rest of FY23E, any delays/hurdles would pose a tangible downside to our already trimmed FY23E earnings.

In the NSE list of stocks with a market cap of over Rs 1,000 crore, six stocks crossed their previous 5-year high value at the close on November 3.

Demand for branded personal care products from high-income consumers has held up. With prices of certain commodities softening, profits for fast-moving consumer goods companies are expected to improve, according to analysts.

“Bata and Relaxo have had some amount of inventory losses because of raw material pressures due to higher raw material prices that have since come down quite significantly. Demand is on the uptrend both for Relaxo as well as for Bata and the other footwear companies. Both Relaxo and Bata stocks have improved but the stock performance does not reflect that. I would hold on or buy at these levels.”

Markets are watching the payroll figures, and "of importance will be average hourly earnings... to see whether the very acute labour market tightness is easing," Tapas Strickland, senior analyst of National Australia Bank, said in a commentary.