"Pharma is certainly one of the spaces that one should look at because that is one of the space which has not done anything at all. They have only gone down. I think one should definitely look into some of the frontline pharma stocks like Sun Pharma, Lupin, Cipla. I will also be a little more comfortable with something like Larsen & Toubro or Siemens or ABB."

“The fiasco in the last two days has dampened overall sentiments and certainly disrupted prices across the board,” said Sameet Chavan, chief analyst - technical and derivatives at Angel One. "From an optimist's point of view, its good that the market is approaching the Budget on a lighter note, and any favorable outcome would lift the markets higher," Chavan said, but added that any slight disappointment would result in a further aberration in the market.

​See, ultimately, it is all about content. So if content is good, after the initial first three days which is looking very good, I think then it will boil down to content.

​Yes, the outlook is definitely improving and we will continue to prefer the leaders in the pack. Yes for HUL the royalty issue is a near term negative but in the broader scheme of things I think it is not too much of an issue.

Indias valuation premium to Asian peers has come off the peak but remains well above historical average. “Since 2015, as interest rates moderated, we have seen a large P/E expansion in the Indian market and we think some more time correction is likely.

“We have held a reasonable weight to this sector to keep a balanced portfolio. The expectations were not that high and obviously the numbers are probably coming through better than expected. So yes, we like this space and continue to have good holdings there.”

Nifty began the week near 17950 and ended very close to the same level, forming a Doji candle on a weekly chart, indicating a bearish trend reversal. The volume profile suggests that the Index may find support in the 17750-17850 range.

Net Sales are expected to increase by 16.5 percent Y-o-Y (down 4.9 percent Q-o-Q) to Rs 4,165 crore, according to Nirmal Bang.

Britannia Industries, incorporated in the year 1918, is a Large Cap company (having a market cap of Rs 103817.85 Crore) operating in FMCG sector.

“There is a margin improvement for most companies quarter on quarter but the YoY pressure for most companies is still there. My sense is that in Q4, further margin recovery will happen because of the current crude oil prices and other deflation. There is always a lag of two to three months. So, in Q4, further build up in margins will happen.”

Most of the revenue growth will be driven by price hikes, while food will outperform personal care. Discretionary companies such as paints, jewellery, apparel and QSR face a demand slowdown, say analysts

EBITDA margins to expand by 130bps YoY at 16.4%.

The NSE Nifty index closed 132.7 points down at 17859.45

TCS, JSW Steel, IndusInd Bank, Bajaj Finserv and Tech Mahindra were among the top losers on NSE in today's trade.

Donear Ind, Lambodhara Text, Tainwala Chem, Rama Steel Tubes and Salzer Electro, hit their fresh 52-week highs during the day.

The NSE Nifty index was trading 75.15 points down at 17917.0

The NSE Nifty index was trading 65.7 points down at 17926.45

Lambodhara Text, Rama Steel Tubes, Jagran Prakashan, Salzer Electro and Tainwala Chem, hit their fresh 52-week highs at 10:40AM.

The NSE Nifty index was trading 4.95 points down at 18038.0

The NSE Nifty index was trading 1.55 points down at 18041.4

Kapston Facilities, Eurotex Ind, BLB Ltd., TVS Electronics and Cool Caps Industries Ltd., hit their fresh 52-week highs at 09:59AM.

BF Investment, TD Power Sys, Krishna Defence and Allied Industries Ltd., Pritika Engineering Components Ltd. and Cords Cable Ind, hit their fresh 52-week highs during the day.

"Discretionary spending is at absolutely new highs and the index is 20 to 30% higher on a 2-3 year basis. Phoenix wants to be a city centric large retail-led mall sort of a real estate player but their vision is primary retail led. About 10-15 years ago they tried to go to the then smaller cities such as Indore, Lucknow etc. All those cities have grown much bigger over the years.”

"The performance of 2022 has been as per the trend observed over the past 10 years. Whenever Sensex provided returns of over 25% in a calendar year, the following year has seen a muted return," said Sunil Sanghai of NovaaOne Capital.

“The investment in Lotus underlines our commitment to further boost indigenously developed daily use high-quality products, to serve a broad customer spectrum at affordable prices,” Isha Ambani, the executive director of Reliance Retail, was quoted as saying in the release.

This stock recently touched its 52-week low and in the last 15 years, only 1.11% of trading sessions saw intraday gains higher than 5%. “It is so boringly safe that nobody loves it,” said Sekhar.

“From the last few trading sessions, Britannia is trading in the formation of lower tops and lower bottoms and it might retest its averages. One can go for a short in Britannia at current market price upside. One should keep a stop loss at Rs 4,400 level. I believe it will retest Rs 4,230-4,200 levels on the downside. ”

Sharekhan is bullish on Britannia Industries has recommended buy rating on the stock with a target price of Rs 5060 in its research report dated December 27, 2022.

Promoters held 50.55 per cent stake in the company as of 30-Sep-2022, while FIIs owned 16.65 per cent, DIIs 8.67 per cent.

Despite seeing a dent in earnings performance due to the spike in raw material prices and subdued international demand in 2022, shares of the countrys largest steelmaker have given positive returns for three consecutive years.

“The view on both the indices will remain cautious and stock specific. The market breadth is not doing very well. The 1:4 ratio is there. So the overall view is a little bit cautious. We are not initiating a major long position in this kind of a market because we believe that the downfall is likely to be continued in the coming week as well. ”

Consumer companies have launched low-unit packs (LUPs) to boost sales of premium products in rural and low-income areas. These companies derive 55% of their revenue from urban markets and the remaining from rural ones.

Britannia Industries, incorporated in the year 1918, is a Large Cap company (having a market cap of Rs 107401.97 Crore) operating in FMCG sector.

Britannia, ITC, Bharti Airtel, Adani Ent. and HDFC were among the top losers on NSE.

The NSE Nifty index was trading 34.95 points down at 18350.35

The NSE Nifty index was trading 4.6 points down at 18380.7

Tirupati Forge, Skipper Ltd, FACT, Shriram Pistons and Vinny Overseas, hit their fresh 52-week highs at 10:09AM.

​​A year that saw volume growth drop sharply due to the inflation impact on rural consumption,and profitability bearing the brunt of spiralling commodity prices, most FMCG majorsweathered the storm and managed to report growth in sales and profits.

We dont think that market is much worried about a recession. It had seen a good run-up of more than 2000 points from 16747 to 18887 levels in the last 11 weeks, so a recent decline of 600 points from higher zones is just part of profit booking which is just one-third of the entire upswing.

​Nifty broke down its upsloping trend line support and slipped below the 20-SMA (18,528), indicating weakness ahead in the near term. If Nifty remains below 18,500, it will witness supply on any minor pullback.

Madras Fert, FACT, Indbank Merc, Aries Agro and National Fert, hit their fresh 52-week highs during the day.

Tech Mahindra, Titan Company, Infosys, HDFC and Eicher Motors were among the top losers on NSE in today's trade.

The NSE Nifty index closed 245.4 points down at 18414.9