Market Bizzz

Brent crude futures were up 37 cents, or 0.4%, at $87.25 per barrel by 1441 GMT

Moreover, in an outlook that could lean against market expectations for rate cuts by the end of next year, the 19 U.S. central bankers’ new forecasts may well show the federal funds rate remaining at that elevated level at least through 2023.

SBI, the country’s largest lender, received overwhelming response from investors with bids of Rs 16,366 crore, prompting an early closure of the issue. It was scheduled to close next week.

“One of the sector to look for multibaggers is the dairy sector and the space for small ticket items which people eat when they are out on the street. Varun Beverages have done really well because of the opening up of the economy in the last one year. Something similar can happen in the dairy sector. We have companies like Hatsun, Dodla, and Heritage which suffered a lot last year. Now demand is coming back in a strong way and the next one year can be reasonably good. ”

“Indian market will continue to stand out when we compare it to EMs. But, it is very difficult to say whether it will stand out in every week, every month, and every quarter. But, predominantly yes, it will continue to stand out in most of the time frames. India is also likely to continue demanding relatively higher valuations compared to global peers.”

Also, shares of Can Fin Homes (Rs 1.50 per share), Aptus Value Housing Finance India (Rs 2 per share), Hinduja Global Solutions (Rs 5 per share) and Panchsheel Organics (Re 0.8 per share) will trade ex-dividend next week.