Rally in US stock futures was led by Nasdaq 100 futures, rising 0.65%, followed S&P futures were up around 0.23%, while Dow Jones climbed 0.06%.
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Rally in US stock futures was led by Nasdaq 100 futures, rising 0.65%, followed S&P futures were up around 0.23%, while Dow Jones climbed 0.06%.
The Nifty 50 closed 35.75 points, or 0.15%, lower at 24,435.95. The Sensex declined 187.90 points, or 0.24%, to 77,966.35.
Last checked, BSE Sensex was trading 0.80% lower at 77,527 levels, while NSE Nifty50 was trading 0.82% lower at 24,271 levels.
Under the $85 crude scenario, he expects India's balance of payments to remain positive at around $48 billion, providing some comfort despite the risks posed by higher oil prices.
His stance comes even as Indian equities remain richly valued, with the Nifty trading at around 20-21 times trailing earnings. Khandelwal acknowledged that valuations are not cheap, but said they need to be considered alongside the earnings outlook.
Khandelwal expects financials to benefit from healthy credit growth and supportive liquidity. The sector is also among the areas he favours over the next six to 12 months as he looks for businesses where earnings upgrades could still be ahead.
Kotak Securities has retained its Sell' rating and Rs 1.25 lakh FV, warning that rising crude oil & natural rubber prices could keep profitability under pressure, while a new competitor in key tyre categories could further raise the heat.
Silver 999 fine was at Rs 2,36,150 per kg at India level. Silver 925 sterling was at Rs 2,18,439 per kg. Notably, Silver prices have rallied 107.49% over the last one year.
Utilities, energy and industrial stocks were all higher, while large-cap technology stocks continued to weigh down the index.
For the past two years, value meals and promotions have been the industry's most dependable source of customers looking for less expensive meals due to inflation.