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In the international market, gold was trading higher at USD 1,770 per ounce while silver was flat at USD 19.94 per ounce.

Most major markets are firmly entrenched in bear market territory as policymakers struggle to check soaring inflation without crushing fledgling growth. However, half-month price changes since 1930 figures show that the first two weeks of July have historically offered the best returns of the year for S&P 500 investors.

“I am sure we will make mistakes and we have made mistakes in the past, we will make mistakes in the future but it is an exciting space and we will continue to use those kinds of criteria to pick up stocks and we will continue to look for ideas within the internet, new age tech space, which is pretty dynamic in India.”

However, they remain positive on the largest steel producer in the country on the back of restocking demand in the September 2022 quarter, which would drive better volumes in the current quarter.

“In pharma we have seen some stability in pockets like Dr Reddy’s and Sun Pharma and as we are approaching quarterly numbers the larger focus would be on the names where there could be an element of surprise or upgrades come through. The IT sector has corrected quite a lot and the rupee, or the dollar-rupee equation is a little bit in its favour, there is a little bit of uncertainty about growth”

Bajaj Finance witnessed the highest ever quarterly increase in its customer franchise of 2.7 million in the initial quarter of FY23. Customer franchise of the company increased from 50.5 million in June 2021 to 60.3 million in June 2022 and new loans booked during the first quarter of 2023 were 7.4 million compared to last year’s 4.6 million, the company said in a filing to the exchanges.

They have upgraded the bank to buy rating and added the stock to their conviction list with a target price of Rs 2,135, which translates into an upside potential of about 26 per cent from prevailing prices.

“This was our best-ever Q1 performance,” it said, adding that 75 per cent of the sales growth required to meet their full-year guidance has been achieved in Q1 itself. “We continue to see good demand across segments and whilst we are monitoring the evolving macro-economic conditions closely, we have not yet seen any negative impact on demand for housing from high credibility developers,” Macrotech said.

Retail and travel and leisure stocks rose 2.6% and 2.2%, respectively, to led gains among the European sectors.Among single stocks, Just Eat Takeaway.com jumped 14.2% after Amazon agreed to take a 2% stake in struggling U.S. meal delivery business Grubhub and said it will offer its Prime members access to the service for one year.

The paper and related products firm has bagged the mega order of Rs 105 crore from National Council of Educational Research and Training (NCERT). The order is for supplying Maplitho paper of 80 GSM in sheets and reels for the printing of textbooks.