Analysts said despite the recent record-breaking run, there is still room for more upside in 2024 spurred by the ongoing momentum of infrastructure building in India.

The stock hit a high of Rs 903 on 19th July 2023, but failed to hold on to the momentum. It took support around Rs 700 levels once in October and then again in November. It witnessed a swift price action last week and rallied more than 5% on Friday, 1st December, which resulted in a strong bullish candle. The supertrend indicator also triggered a buy on the daily charts last week.

In October 2020, Sebi prohibited Atul Kirloskar, Rahul Kirloskar, Alpana Kirloskar, Arti Kirloskar, and Jyotsna Kulkarni from accessing the securities market for six months. This order was challenged in the appellate tribunal, which passed in the interim of December 2020 and stayed Sebi's order subject to an undertaking to the effect that they would not sell their shares in KIL.

Pressuring equities on Monday were higher US Treasury yields, which made returns on stocks less attractive. Megacap names including Nvidia, Meta Platforms and Apple fell between 0.7% and 2.6%. Traders have priced in the likelihood that the central bank will keep rates unchanged next week, with about 59% betting on rate cuts starting as soon as March 2024, according to the CME Group's FedWatch tool.

Meta surged 172% this year through the end of November, outperforming all major US tech companies other than Nvidia Corp. That’s helping to maximize the proceeds for Zuckerberg’s activities outside Meta, which include venture capital, scientific research and impact investments.

The conglomerate's flagship company Bajaj Finance rose 12% so far this year, while shares of Bajaj Finserv have risen 9%. Bajaj Finance is leading with the highest market cap of 4.57 lakh crore among the group firms, followed by Bajaj Finserv and Bajaj Auto.

Domestic benchmark equity indices closed at new all-time highs on Monday, led by banking, financial and energy stocks as key wins for the ruling party in state elections boosted domestic market sentiment. The S&P BSE Sensex closed 2.05% higher at 68,865, while the NSE Nifty 50 index closed above the 20,650 level."A long bull candle was formed on the daily chart with a lower shadow. The huge opening upside gap of Monday remains unfilled. Technically, this pattern indicates strong upside momentum and a decisive upside breakout of the previous top at 20,200 levels. Though Nifty placed at the highs, still there is no indication of any reversal pattern unfolding at the new highs," said Nagaraj Shetti, Technical Research Analyst at HDFC Securities.Here are 4 stock recommendations for Tuesday:

The acquisition values PNP Port at around Rs 700 crore with a current capacity of 5 million tonnes per annum (MTPA) and potential to expand to 19MTPA. This acquisition is part of JSW Infrastructure’s strategic direction to explore opportunities to expand organically and inorganically, to provide end-to-end logistics services near the cargo consumption centres.

The Dow Jones Industrial Average fell 156.12 points, or 0.43%, at the open, to 36,089.38. The S&P 500 opened lower by 30.26 points, or 0.66%, at 4,564.37, while the Nasdaq Composite dropped 136.37 points, or 0.95%, to 14,168.66 at the opening bell.

The VC firm is offering 61 lakh shares or 1.9% stake in the personal care products maker. The deal is expected to be worth Rs 230 crore. The floor price for the sale is set at Rs 368.7-384.1 a share, representing upto 4% discount from the current market price.

The S&P BSE Sensex rallied over 1,300 points while the Nifty50 closed with gains of over 400 points to close at 20,686. The S&P BSE Sensex hit a record high of 68,918 while the Nifty50 hit a high of 20,702. Sectorally, buying was seen in oil & gas, banks, public sector, power and capital goods stocks.

During Monday's trading session, the Sensex benchmark index witnessed a surge of around 1,384 points, concluding the day at 68,865. Amidst this upward movement, five stocks within the BSE capital goods index achieved their highest prices in the last 52 weeks. The 52-week high serves as a vital technical indicator for traders and investors, indicating a stock's peak price over the preceding year. This metric aids in evaluating the current value of the stock and predicting potential fluctuations in its future prices.

In January 2021, Sebi imposed a Rs 25 crore fine on Reliance Industries Ltd(RIL), Rs 15 crore on Ambani, who is the company's Chairman and Managing Director, Rs 20 crore on Navi Mumbai SEZ Pvt Ltd and Rs 10 crore on Mumbai SEZ Ltd in RPL case.

All the sectoral indices recorded gains with oil and gas surging the highest 3.77 per cent followed by Bankex rising to 3.56 per cent. While the power sector index went up 2.99 per cent, financial services advanced 2.98 per cent and utilities jumped 2.94 per cent.

“The huge opening upside gap of Monday remains unfilled. Technically, this pattern indicates strong upside momentum and a decisive upside breakout of the previous top at 20200 levels,” said Nagaraj Shetti, technical research analyst, HDFC Securities.

Short covering refers to the buying of shares in order to close an existing short position or a position that has been sold. Short covering signals a shift in view on a security from extreme bearishness to bullishness. In Monday's trading session, five stocks saw top short covering. Here's the list:

Prime Minister Narendra Modi’s victories in three state elections drove India’s stock market to a new record high. With Sensex and Nifty at all-time high levels, bulls are gunning for newer peaks ahead of the Lok Sabha elections next year. According to past trends, Nifty has rallied 39% in the run-up to elections. (Source: ETNOW)

The company had earlier announced a bonus issue to investors in the proportion of 6:1, which means, for every one share held, investors will get an additional six shares.

Domestic benchmark equity indices hit fresh all-time highs on Monday, driven by financial and energy stocks as state election results boosted market momentum driven by strong macroeconomic data and easing global interest rate expectations. Meanwhile, as per data available on StockEdge, a number of largecap stocks outperformed the benchmark Nifty50 index on a 1-week and 3-month basis as of December 1. Here's a list:

Financial and energy stocks led benchmark equity indices to new all-time highs on Monday as key wins for the ruling party in state elections lifted the broader domestic market, already boosted by strong macroeconomic data and easing global interest rate expectations.Meanwhile, during this rally, 5 midcap stocks from the Nifty200 index managed to hit new all-time highs. Here's a list:

Stocks in the broader markets have had an exemplary run over the past 12 months with Nifty Midcap 100 returning more than 30%. On the back of this bull run, InCred Equities has identified seven stocks with Add recommendations and one with Reduce. Take a look!

A short buildup is when there is a rise in open interest and volumes along with a decrease in the price of the underlying stock in the Futures and Options segment. Short buildup means more people are expecting the prices to go down and creating short positions. In Monday’s trading session, five stocks witnessed a build of fresh short positions. Here's the list:

Closing Bell: Sensex ends at fresh record high, surges 1,384 pts; Nifty above 20,650; Inox Wind climbs 17%, Cyient 10%

The 30-share BSE benchmark Sensex advanced 1,384 points or 2.05% to settle at 68,865. The broader NSE Nifty surged 419 points or 2.07% to end at 20,687. Meanwhile, the market capitalisation of all listed companies on BSE surged by Rs 5.78 lakh crore to Rs 343.45 lakh crore.

There are many sectors which have seen a re-rating in the last nine years. Especially in sectors like railways, defence where both the policy direction and funds both come from the government have seen a strong performance. There is another sector where policy making has an impact but it takes more to show its impact that is PSU banking space. With better than expected GDP numbers and the fact that state elections have thrown results, which street would take a sign of continuation of the current policies of clean up of the sector, will PSU banks see another round of push. ?

ETMarkets spoke to Satish Ramanathan, CIO - Equity, JM Financial Asset Management on why he is cautious on markets, sectors to watch out for in 2024, and when to rejig the portfolio.

A long buildup is when there is a rise in open interest and volumes along with an increase in the price of the underlying stock in the Futures and Options segment. The long buildup is the occurrence of a long (buying) trend in the share market. In Monday's trading session, five stocks witnessed a build of fresh long positions. Here's the list:

The Nifty 50 Index’s 14-day relative strength index — a gauge of price momentum — is nearing a two-standard deviation threshold. Declines of more than 9% on average have followed in the five instances going back to 2018 when Nifty punched above this line, data compiled by Bloomberg show.

The project is estimated to cost Rs 1,544 crore and commissioned within 24 months from the date of transfer of the project SPV. Tata Power will maintain the transmission project for 35 years.

“Some of our users were facing issues with logging into Kite web and adding instruments to the marketwatch. These issues are resolved. We regret the inconvenience caused,” the broking firm said in its tweet.

The landslide victory for Street favourite BJP is not only seen as a validation of a favourable outcome in next year's poll but may also help the ruling party keep populism under check. However, some welfare policies may gain momentum in the upcoming Budget, which will help "Bottom of Pyramid" demand recovery.

Will BJP's stunning victory in three states recharge bulls? -- Swaminathan Aiyar, Consulting Editor, ET NOW joins us to discuss more.

FIIs who had been bothered by the Indian market’s rich valuations and were hoping for a correction to build more substantial positions in the market may see those hopes evaporating, leaving them with the unsavory choice of either staying out of a market that may not correct or may continue to do well or entering the market at current levels despite their reservations about the market’s valuations in general, Kotak Equities said.

The bullish mode of the market, which was already in place on the street as the nifty touched new high, is likely to get a boost with the narrative that wind in the state election is an indication of what is in store for April 2024. There is greater likelihood of bullish sentiment continuing, so be bullish but more than anything else in the long term what matters for a stock is earnings and valuation. So be selective, avoid impulsive investing, and keep reviewing one’s portfolio and stay away from penny stocks especially. It is very likely that some of the penny stocks will fly and be distributed amongst retail investors. We look at stocks which have witnessed a continuous rise in their score in the last one month. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.

Global energy agencies (such as IEA and EIA) are forecasting a strong trajectory for oil prices in 2024, despite the recent demand-related concerns.

The US Federal Reserve paused hiking interest rates and is cautiously optimistic about the economy. The Fed Rates are at 5-5.25%. Inflation is also around 3.2%, which is comforting and probably the reason why the Fed has paused hikes.

Following the assembly elections results in Chhattisgarh, Madhya Pradesh, and Rajasthan, the Adani group flagship Adani Enterprises hit a 10% upper circuit, while Adani Energy Solutions rose 14%. Adani Power and Adani Green Energy surged over 12%. Adani Total Gas, Adani Ports, and Adani Wilmar advanced 5-8%.

There are many sectors which have seen a re-rating in the last nine years. Especially in sectors like railways, defence where both the policy direction and funds both come from the government have seen a strong performance. There is another sector where policy making has an impact but it takes more to show its impact that is PSU banking space. With better than expected GDP numbers and the fact that state elections have thrown results, which street would take a sign of continuation of the current policies of clean up of the sector, will PSU banks see another round of push. ?

Nifty going found more energy on Friday to close at a new high.

Short-term traders can look to buy the stock for a target of Rs 432 in the next 3-4 weeks, suggest experts.

From the Sensex pack, SBI, ICICI Bank, L&T, NTPC, and Airtel were the top gainers, rising over 2% each. M&M, HDFC Bank, Bajaj Finance, and Axis Bank also opened higher. Whereas only Nestle opened in the red.

Syrma SGS Technology, which provides electronics manufacturing technology solutions, has given multibagger returns in 2023. The company should significantly benefit from the rapid growth in the electronic systems design and manufacturing (ESDM) industry, given its rich experience, strong order book and executional capabilities, says Sneha Poddar of Motilal Oswal Financial Services.

Year-to-date, the S&P BSE Midcap and Smallcap indices have given over 36% and 40% returns, respectively, whereas the benchmark Sensex has given around 11% returns.

From the Sensex pack, SBI, ICICI Bank, L&T, NTPC, and Airtel were the top gainers, rising over 2% each. M&M, HDFC Bank, Bajaj Finance, and Axis Bank also opened higher. Whereas only Nestle opened in the red.

Nifty surged nearly 2.4% last week and logged its fifth consecutive weekly gain, boosted by strong macroeconomic data. Meanwhile, a host of analysts shared their tech views on several stocks which may gain up to 15% in the near term. These stocks include ITC, Apollo Tyres, and HUDCO. Here is a list of 4 tech picks from various analysts:Here is a list of 4 tech picks from various analysts:

Record high for D-St! Sensex surges 900 points, tops 68K; Nifty above 20,550; Vodafone Idea, YES Bank, Punjab National Bank are some of the gainers in the morning trade.

Jefferies maintained a buy rating on Honasa Consumer with a target price of Rs 530. “Honasa is still evolving in its offline journey and will make mistakes in the online. Given the online mix, pushing inventory may not yield much, based on our calculation,” said the note.

ET Now spoke to various experts, and here's what they have to recommend for today's trading session. Kunal Bothra has a buy/sell recommendation on Tata Motors and Exide Inds, while Nooresh Merani has a buy/sell recommendation on ICICI Bank and Can Fin Homes for today's trading session. Check out the targets and stoploss.

Portfolio managers say the results will ensure policy continuity and lift prospects for the stock market as international investors become more confident in their India allocations ahead of national elections. Jefferies Financial Group Inc. sees cyclical stocks benefiting the most from the outcome of the polls while Nuvama Wealth Management says it has become more confident in the government’s capital expenditure.

Many analysts suspect risks are to the upside, with Goldman Sachs tipping 238,000 including a chunk of workers returning from strikes, and a jobless rate of 3.8%.