Nifty IT fell 1%, dragged by Tech Mahindra, Infosys, and TCS. Meanwhile, Nifty Bank, Nifty Financial Services, and Nifty Media declined 0.7%-1.6%. The market capitalisation of all listed companies on BSE declined by Rs 2.03 lakh crore to Rs 309.27 lakh crore. The market breadth was skewed in the favour of the bears. About 2,463 stocks declined, 1,224 gained, and 108 remained unchanged on the BSE

Closing Bell: Infy, banks drag Sensex 523 points lower; Nifty below 19,150; Welspun India soars 9%, Adani Ent drops 2%

The markets regulator, in July, sent a notice to Kapoor asking him to pay Rs 2.22 crore in a case of misselling the private sector lender's Additional Tier-1 (AT1) bonds and warned of arrest and attachment of assets as well as bank accounts if he fails to make the payment within 15 days.

Shares of Kering fell 3.5% to their lowest since early 2020 as the French luxury group posted a bigger-than-expected drop in third-quarter sales on slowing demand for high-end clothes and accessories.

Keeping an eye on what big investors do can really help regular investors, especially because those big investors often put a lot of money into something after doing a lot of research. According to a study by ETMarkets, foreign institutional investors (FIIs) have consistently increased their stakes in 81 small-cap stocks listed on the BSE during the past four quarters (from December 2022 to September 2023).Our analysis demonstrates that among these 81 stocks, 66 have yielded double-digit returns over the past year. It's important to mention that 21 stocks from this list have seen a significant boost in their value, becoming "multibaggers" within a year, and we've highlighted 8 stocks that have risen by over 180% in the same time. (Data Source: ACE Equity).

It is normally said and there is enough evidence to support it, that if the market is falling because of fear of economic slowdown or there are fears of a recession, then metals would be the first sector to get hit. The question is whether this round of fall in the Indian market is due to those fears? The answer is most likely No. What the Indian market is witnessing is correction of valuations, which have gone extremely high due to excess liquidity chasing Indian stocks for the past six months. So, there is a good chance that sectors like metals which are more impacted by what is happening in China would be able to perform much better even in bearish times, as the Chinese government makes another round of effort to pull the economy out of the slowdown.

"With the recent geopolitical tensions raising the index volatility, we feel the index will remain range-bound in the short term and will look for the festive season demand trend in November 2023 and assembly election results in early December 2023 to take a decisive trend," InCred Equities said.

Nasdaq 100 Index futures dropped as Microsoft Corp. and Google’s parent Alphabet Inc. delivered a mixed picture of big tech earnings. Contracts on the Nasdaq sank 0.8% and those on the S&P 500 were down 0.5%.

It is normally said and there is enough evidence to support it, that if the market is falling because of fear of economic slowdown or there are fears of a recession, then metals would be the first sector to get hit. The question is whether this round of fall in the Indian market is due to those fears? The answer is most likely No. What the Indian market is witnessing is correction of valuations, which have gone extremely high due to excess liquidity chasing Indian stocks for the past six months. So, there is a good chance that sectors like metals which are more impacted by what is happening in China would be able to perform much better even in bearish times, as the Chinese government makes another round of effort to pull the economy out of the slowdown.

From the Sensex stocks, Tata Steel and JSW Steel were the top gainers, rising 1.5-2%. Nestle, SBI, HCL Tech, and UltraTech Cement also opened higher. On the flip side, NTPC, Infosys, Power Grid, Airtel, and Kotak Bank opened in the red.

The decline was mainly attributed to a fall in advertising spending by businesses amid rising interest rates. Indian broadcasters are grappling with slowing advertising spending as businesses clamp down on discretionary investments to rein in costs amid high inflation and aggressive interest rate hikes.

Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. SR+ Reports is a complimentary offering to ETPrime members. Click here to know more.

Kaynes Technology India Ltd is a leading end-to-end and IoT-enabled integrated electronics manufacturer. The company has seen fresh order inflows almost doubling every year since FY20. Its revenue/EBITDA/PAT is set see a robust CAGR of 41%/46%/55% over FY23-26, driven by a strong order book growth and an improving margin profile, says Sneha Poddar of Motilal Oswal Financial.

Earlier, the tax authorities had issued a show cause notice to the company alleging a shortfall in tax payments by Delta Corp and its two subsidiaries, Highstreet Cruises and Entertainment Pvt. Ltd and Delta Pleasure Cruise Company Private Limited.

Over 100 stocks are trading with momentum indicator RSI trending down. ETMarkets has picked five stocks in this pack to give insights about their movement trends on October 23, Monday. RSI or the relative strength index computes the ratio of the recent upward traction in the stock price movement relative to its absolute price movement. The RSI value ranges between 0 and 100. Herein the StockEdge data takes into consideration the time period of 14 days to compute RSI. Furthermore, RSI also enables an understanding of the stock’s overvalued or oversold state. (Source: StockEdge)

Mahindra Logistics reported a 4% increase in volumes for its MLL Express business during the quarter. As for warehouse management, Mahindra Logistics continues to show a strong presence with 19 million square feet of warehouse space under its purview within the 3PL business.

The company provides conceptual design, process engineering, integrated manufacturing and life cycle support to leading companies in the automotive, industrial, aerospace, defense, outer-space, nuclear, medical, railways, IT, and other sectors.

In the NSE list of stocks with a market cap of over Rs 100 crore, we have collated a list of 6 stocks that witnessed a 5-year swing high at the close on October 23, suggesting bullishness in counters, according to stockedge.com's technical scan data. Take a look.A 5-year swing high represents the highest price a stock has reached within a five-year timeframe. This level acts as a significant resistance point where the price has historically struggled to go beyond. This occurrence may be seen as a bullish sign, indicating the potential for further upward movement in the stock.However, it's worth noting that this is different from a 5-year breakout, which occurs when a stock's price surpasses a key resistance level that has held for five years.

Short term traders can look to buy the stock on dips for a possible target of Rs 800-850 in the next 3-4 weeks, suggest experts.

The Nifty opened the week on a weak note. The weakness intensified in the last hour of the session to close with a net loss.

Sensex rises 150 points, Nifty above 19,300; Delta Corp surges 7%, NDTV falls 3%; Tata Steel, Bajaj Finserv, HCL Tech are some of the gainers in the morning trade.

The medium-term growth guidance for non-RAC segments remains robust, and the ability to ramp up new segments would be key for re-rating.

In the Nifty 50 pack, three stocks' close prices crossed below their 200 DMA (Daily Moving Averages) on October 23, according to stockedge.com's technical scan data. Trading below the 200 DMA is considered a negative signal because it indicates that the stock's price is below its long-term trend line. The 200 DMA is used as a key indicator by traders for determining the overall trend in a particular stock. Take a look:

Canara Bank’s daily trend is bearish to sideways. The RSI for weekly and daily is showing sideways momentum, however, the RSI for monthly is showing bullish momentum. Based on option chain analysis, the range is between 350 and 400. Let’s plan a trade around this.

On the monthly options front, the maximum Call OI is placed at 19600 and then towards 19500 strikes while the maximum Put OI is placed at 19000 and then towards 19200 strikes.

GIFT Nifty on the NSE IX traded lower by 21 points, or 0.11 per cent, at 19303, signaling that Dalal Street was headed for negative start on Wednesday. Here's a slew of stocks that will be in focus today for various reasons.

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 HUL and ICICI Lombard, while Nooresh Merani has a buy/sell recommendation on Titan and Hero Moto for today's trading session. Check out the targets and stoploss.

From the Sensex stocks, Tata Steel and JSW Steel were the top gainers, rising 1.5-2%. Nestle, SBI, HCL Tech, and UltraTech Cement also opened higher. On the flip side, NTPC, Infosys, Power Grid, Airtel, and Kotak Bank opened in the red.

A standard operating procedure (SOP) finalised by custodians of FPIs and the Securities and Exchange Board of India (Sebi) over the weekend has laid down the ground rules to stop the misuse of such overseas investment entities, two persons familiar with the subject told ET.

As George Orwell said in Politics and the English Language, the decline of language ultimately has political and economic causes. Stockbrokers in India use empty phrases as a tribute to corporate power. So, sales and profit don’t decline for large Indian outsourcing companies, they “degrow.” A workforce doesn’t shrink; the addition of employees turns negative.

Bonds have held onto a bounce-back after the 10-year Treasury yield breached 5% on Monday, with the benchmark yield firm at 4.82% in Tokyo trade.

Stocks that were in focus included names like Kotak Mahindra Bank, which rose 1.85%, Laurus Labs, which gained 9.47%, and Vedanta, whose shares declined 3.37% on Monday.

GIC will be deploying $500 million in the infrastructure business for a 49% stake. The investment will take place in tranches, with an initial $100 million and $400 million to come in over the next two to three years on a need-to-draw down basis. This will be linked to Sterlite Power winning transmission project tenders and planned capex.

All three major U.S. stock indexes advanced, with interest rate sensitive megacaps providing much of the upside lift as benchmark Treasury yields held steady, comfortably below their recent spike to 5%.

Mahindra Logistics posted net loss of Rs 15.5 crore for the quarter ended September. Revenue from operations stood at Rs 1,365 crore.

“The 89 DEMA has been acting as a support for Dr Reddy’s Laboratories stock and it has shown signs of rebound with good volumes. Traders can buy for a target of Rs 5850-6000 in the next 3-4 weeks,” Ruchit Jain, Lead Research, 5paisa.com, said.

The EV target is to convert 5% of the total fleet to EVs in the next six months. It will reach 50% in three years and 100% in five years. The scheme is applicable to cab aggregators, delivery service providers and e-commerce entities having more than 25 vehicles in their fleet.

Both lenders have provided debt in the form of non-convertible debentures (NCDs) with different terms. Bonds raised from Deutsche Bank are unsecured while Standard Chartered bonds are secured. The Rs 245-crore NCDs issued to Standard Chartered Bank have a clause that the bank would charge 50 basis points more for each rating downgraded of Lodha.

Analysts have raised target price for shares of the country's largest steelmaker by 4-10%, with CLSA Asia Pacific Markets, Nuvama Institutional Equities and Centrum Broking also upgrading rating for the shares. JSW Steel currently has the capacity to produce around 28 million tonne of steel each year, and this is expected to rise to around 37 million tonne over the next 15-18 months as some of the current expansion plans are completed.

Sun Pharma, Mahindra & Mahindra, Grasim, Dr Reddy's and Eicher are other large-cap stocks trading below their 10-year average valuations.

The Piramal Group has sold its bad loans worth ₹531 crore to Omkara Asset Reconstruction Co., including properties like a JW Marriott hotel and a Crowne Plaza unit. The deal was done at a premium, resulting in a profit of over ₹700 crore for Piramal. The loans were initially sold to Omkara ARC in a structured deal, with 15% paid in cash and the rest issued as security receipts.

​Nifty Smallcap index retreated from a 15-year resistance trend line drawn adjoining 2007-21 high, indicating profi t booking after a 50% rally seen during March-October 2023 amid overbought conditions.

A standard operating procedure (SOP) finalised by custodians of FPIs and the Securities and Exchange Board of India (Sebi) over the weekend has laid down the ground rules to stop the misuse of such overseas investment entities, two persons familiar with the subject told ET.

​"With gap between credit growth and deposit growth expanding during the year to 6 percentage points at the peak, banks have been pushed to invest in expanding networks with an objective to boost their deposit mobilisation,'' said Prakhar Sharma, analyst at Jefferies. "It is interesting that different banks are adopting different strategies to drive growth in retail deposits."

"When the Sensex to BSE Smallcap index ratio decreases, it indicates that Sensex stocks are poised to outperform in the short term," said Apurva Sheth, head of market research at Samco Securities. "Conversely, small-cap stocks are expected to outperform when the ratio rises."

“Dr Reddy’s Laboratories has been in a corrective phase in the last couple of months, but this entire down move just seems to be a corrective phase within an uptrend,” Ruchit Jain, Lead Research, 5paisa.com, said.

The Dow Jones Industrial Average rose 153.23 points, or 0.47%, at the open to 33,089.64

The EV target is to convert 5% of the total fleet to EVs in the next six months. It will reach 50% in three years and 100% in five years. The scheme is applicable to cab aggregators, delivery service providers and e-commerce entities having more than 25 vehicles in their fleet.

The benchmark equity indices closed lower for the fourth straight session on Friday, dragged by banking, financial, IT, and metal stocks. The S&P BSE Sensex closed 1.26% lower at 64,572, while the NSE Nifty 50 index ended below the 19,300 level. "The short-term trend of Nifty continues to be negative. Having moved below the support of 19,330, one may expect Nifty to slide down to 18,825 levels 200-day EMA in the near term. Any attempt of upside bounce could encounter resistance around 19,400 levels," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.Here are 4 stock recommendations for Wednesday:

The acceleration of foreign direct investment inflows into India over the past decade reflects the favourable long-term growth outlook for the Indian economy, helped by a youthful demographic profile and rapidly rising urban household incomes.