Nikunj Dalmia of ET Now shared his views on the stock market. According Dalmia, "It is a fractured market, a divided market. You need to focus on individual stocks."

One particular stock that Dalmia noted was Aurobindo Pharma. Dalmia said that some high-net worth individuals as well as "real hardcore smart guys" were buying stocks of the company. This indicated that the basic business momentum of the pharma firm was back.

The pharma stock has moved in the range of 175 to 185, with a 52-week high of around 200 and a 52-week low of around INR100. Dalmia advises investors to keep note of Aurobindo. "At a time when pharma is doing well, a stock which is available at a PE multiple of 17-18 times with EPS estimates of about 12-13 times should be on your radar. It has got cleaned out because of institutional selling. Smart guys are gobbling that stock on every decline, keep it on your radar." Dalmian added that "there could be a trading bounce in Aurobindo Pharma."

Meanwhile, Hindustan Unilever Ltd. was at a new all time high. In contrast, the State Bank of India was a new 52-week low.