Tuesday's market action signal a formation of spinning top-type candle at the high, said Nagaraj Shetti of HDFC Securities, who said such a formation after a reasonable upmove or at the hurdle could be considered as a reversal pattern post confirmation.

“Cement has benefitted from the fall in raw material cost and that 30-40% drop will add to the EBITDA level. Clearly volumes are going to pick up and the largest amount of uptick will happen in the South which means companies like Dalmia Bharat, Ramco Cements as well as national players like UltraTech will benefit. JK Lakshmi will benefit from sheer valuation comfort.”

“Large banks have been leading the rally in the market for the past three odd months and my sense is that large banks is the way forward because while credit growth has been growing quite rapidly, deposit growth has not grown at equal measure. So, the small banks will face an issue related to raising of funds and deposits.”

The 30-share BSE Sensex closed up 455.95 points at 60571.08

The 30-share BSE Sensex closed up 455.95 points at 60571.08

For the quarter ended June 30 2022, the company reported consolidated net sales of Rs 1,228.23 crore, up 20.89 per cent from the year-ago quarter's net sales of Rs 1,015.91 crore. The company reported a net profit of Rs 164.45 crore for the latest quarter.

The Nifty Pharma index closed 0.24 per cent up at 12745.6.