Shares of One 97 Communications (Paytm) will rally another 21 percent as a constant improvement in contribution margin and operating leverage will continue to drive the digital payment platform's operating profitability. In the last seven months, the stock of Paytm has gained 94 percent and it has risen 60 percent on a year-to-date basis.

Morgan Stanley said strong trailing investments and cyclical tailwinds (benign asset quality and improving real deposit rates) will help it navigate merger challenges better and return to 17-18 percent earnings per share growth after Year 1.

In a recent analysis by Ruchit Jain from 5paisa.com, two stocks, Grasim Industries and Bank of Baroda, have emerged as attractive buying opportunities. Jain's assessment reveals several positive indicators for these stocks, presenting a compelling case for investors to give them serious consideration.

The dollar index — which measures the American currency against the yen, the pound, the Canadian dollar, the Swedish krona, the Swiss franc and the euro — was last trading nearly 0.2 percent higher at 102.782.