We recommend focusing on stocks based on the sectoral trend. We expect the positive tone to continue in banking and FMCG sectors while pharma and IT stocks may continue to trade lackluster. Besides, it’s prudent to keep the leveraged positions hedged, especially overnight trades, citing the upcoming data and events and staying selective on the broader front.
GAIL shares jump 4% as Q2 net profit rises over 8% to Rs 4,650 crore, revenue grows 17%
GAIL shares rose nearly 4% after the company reported strong second-quarter profit and revenue growth, supported by its gas marketing and transmission businesses. Investor sentiment