Bitcoin remained strong after crossing $50,000 for the first time in over two years, thanks to inflows into exchange traded funds backed by the digital asset. It was last at $49,897.

PSU bank stocks such as Punjab and Sind Bank, Central Bank of India, Bank of Maharashtra, UCO Bank, and Indian Overseas Bank surged by 4-6%. Bank of India and Punjab National Bank (PNB) also rose over 3%.

The Nifty was mildly positive at open but soon drifted into negative territory. It closed with a loss.

Reliance Industries (RIL) becomes the first listed Indian entity to cross Rs 20 lakh crore market cap milestone. Analysts from Morgan Stanley, Jefferies, Sharekhan, and Citi have provided target prices and assessments of RIL's future prospects. RIL's market value has increased by Rs 1 lakh crore in the last two weeks alone.

The company reported net sales at $3.9 billion for the third quarter of fiscal year 2024, which decreased 6% versus the prior year period driven by lower average aluminum prices as shipments were in line with prior year levels.

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 Tuesday’s trading session, five stocks witnessed a build of fresh short positions. Here's the list:

India's retail inflation fell to a three-month low of 5.10% in January, as prices of some food items rose at a slower pace, data showed on Monday.Industrial output rose at a faster-than-expected pace of 3.8% year-on-year in December, led by manufacturing, signalling strength in macroeconomic fundamentals.

Short-term traders can look to buy the stock for a possible target of Rs 841 in the next 1-2 months, suggest experts.

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 Tuesday's trading session, five stocks witnessed a build of fresh long positions. Here's the list:

Among smallcaps, Kaveri Seed was LIC ownership reducing by about half to 2.66% in Q3. In MOIL, LIC stake fell from 7.42% to 5.46% quarter-on-quarter, shows ACE Equity data.

Interestingly, several public sector companies have found them in this list and these stocks have more than doubled retail investors’ money in the last 10 months.

BofA Securities recommended an underperform rating on NHPC with a target price of Rs 63. The Q3 earnings were a miss on lower generation led by lower water availability.

A host of brokerages have upgraded the target prices of several stocks in the last one month. Trendlyne data shows that 8 stocks, including SBI, IndusInd Bank, LTIMindtree and Axis Bank faced up to five analysts' target price upgrades in the last 1 month. Here's a list of these stocks:

Gokaldas Exports manufactures and exports diverse apparel products to various fashion brands and retailers in over 50 countries. With benefits such as the China+1 theme, potential free trade agreements with the UK, Canada, and Europe, and a recovery in demand, the company is likely to see a revenue CAGR of 18% over FY23-26, says Sandeep Raina of Nuvama Professional Clients Group.

Focussing on high value and margin products, expanding production capabilities while simultaneously strengthening the balance sheet through fund infusion has helped the company clock a 17% revenue CAGR between FY18-23, with an improvement in operating margin to 11% in FY23 from -2% in FY18.

Paytm shares fell 8.7% to Rs 385.75 on BSE after Macquarie downgraded the company with a reduced target price of Rs 275 in the base case scenario. Following a ban on Paytm Payments Bank, RBI Governor Shaktikanta Das stated that there is limited scope for reviewing actions.

India's retail inflation fell to a three-month low of 5.10% in January, as prices of some food items rose at a slower pace, data showed on Monday.

India's weightage in the MSCI Global Standard (Emerging Markets) index will reach a historic high of 18.2%. India's representation is expected to increase to around 18.5% after the February rejig, according to Abhilash Pagaria of Nuvama Alternative & Quantitative Research. The quarterly rebalancing could lead to significant inflows from passive FII funds.

Macquarie has increased its Paytm loss estimates by 170%/40% over FY25/26, factoring in a 60-65% decline in revenues due to lower payments and distribution revenues. The brokerage has also assumed a 50% cash burn rate and 20x PE multiple to normalised earnings from its distribution business.

The climb can be attributed to India's standardized foreign ownership limit (FOL) in 2020, the sustained rally in domestic equities and relative underperformance of other emerging markets, especially China, Nuvama Alternative & Quantitative Research said in a note.

REL led by chairperson Rashmi Saluja has sought to obstruct the applications that need to be sent to the regulators for changes in shareholding, control and management of REL, said the letter by the Burmans, promoters of the Dabur Group. The action by the REL management “impedes the ability of regulatory authorities to perform their obligations,” the Burmans said in the letter, a copy of which ET has seen. “It also costs the public shareholders of Religare.”

Stocks that were in focus included names like Global Health, which rose 6.34%, MCX, which dropped 9.03%, and Apollo Hospitals, whose shares jumped 2.6% on Monday.

BAT has 29.03% holding in the cigarette-to-chips conglomerate, as per December 2023 disclosures. Based on Monday’s closing price, BAT’s shareholding is valued at Rs 1.47 lakh crore ($17.75 billion). ITC’s total market capitalisation amounted to Rs 5.07 lakh crore ($61.17 billion). BAT sells cigarettes under brands such as Dunhill, Kent and Lucky Strike. The value unlocking could potentially help it prune leverage and resume a share buyback programme to enhance shareholder value. It launched the 2 billion buyback in 2022, but didn’t renew it last year.

Bitcoin remained strong after crossing $50,000 for the first time in over two years, thanks to inflows into exchange traded funds backed by the digital asset. It was last at $50,0097 in Asian hours.

Traders awaited January's Consumer Price Index (CPI) and Producer Price Index (PPI) this week to gauge prospects for interest rate cuts. This week the market also gets data on industrial production, retail sales and preliminary University of Michigan consumer sentiment.

“CAMS has formed a double bottom structure on the weekly chart, and we see stock bouncing back from that zone. Traders can buy the stock for a target of Rs 3200 in the next 5-7 weeks,” Jay Patel, Research Head at Investmentor Securities Limited, said.

The governor, however, said an FAQ will be issued this week to address concerns of customers and depositors, including FASTag holders and wallet users, who could be impacted by the RBI restrictions on PPBL. "We take decisions after a lot of consideration and analysis. At the moment, there is no review of the decision (on PPBL)," he told reporters in the national capital on Monday after finance minister Nirmala Sitharaman's customary post-budget address to the RBI board.

The National Payments Corporation of India (NPCI) and banks from both the United States and India are in advanced discussions to establish a real-time payment connection between the two countries. This initiative aims to capitalize on NPCI's progress in establishing cross-border payment systems.

The company is looking for a one-year finance before the asset moves to UltraTech following regulatory clearances, they said, adding that Kesoram is looking to refinance the debt at 12-13%. Talks for the new loan could close by the end of this month, Kesoram Industries added.

There is a notable overlap among the industries discussing operational efficiency most prevalently and those that are discussing AI, the strategists said.

The Nifty PSE (Public Sector Enterprises) index plummeted almost 4% on Monday, its highest single-day decline since January 23, when the index fell 4.3%. The index dropped 2.7% on Friday.

Aurionpro Solutions proposed to raise up to Rs 200 crore through issue of 9.02 lakh shares at Rs 2,215/share on a preferential allotment basis.

Gujarat Fluorochemicals, Ramkrishna Forgings, IDFC, and Welspun Corp are some of the top holdings of Akash Bhansali. Three of his stocks, Arvind Fashion, Vascon Engineers, and PDS, rallied more than 20% in the December quarter.

On Monday, Nifty's Midcap 100 index fell 2.5% - its biggest single-day fall since January 23, and the Small Cap 100 index slumped 4% - its biggest fall in a day since September 12 last year. The Nifty Microcap 250 declined 3.9%. The Sensex and Nifty shed 0.7-0.8% each Monday. On Friday, the small-cap and mid-cap indices fell between 2% and 3%.

China's property bust and increasingly interventionist government, along with deepening geopolitical fissures with the United States, have dramatically dimmed its allure as a destination for international capital.

The impact on fundraising is already visible: The median time to raise a new fund is now 21 months, compared with about 18 months just a couple of years ago, according to the bank's research. And the number of new funds raised last year dropped 29%.

The stock rose from Rs 2,378 on November 9, 2023, to Rs 2,895 on February 9, 2024, which translates into an upside of over 20% in the last 3 months. It has broken out from a 1.5-year-long consolidation placed above 2,600 on the weekly charts in November 2023 and is holding above the same.

Nvidia crossed above Amazon.com in market capitalization, as the euphoria around artificial intelligence catapulted the chipmaker to the fourth-most valuable U.S. company. Their shares were up 0.5% and 0.1%, respectively.

The European Central Bank does not need to dampen the euro zone's economy even more to get inflation under control because demand is still weak, ECB board member Piero Cipollone said on Monday.

Amid short seller attack, Fairfax terms claims of accounting abuse as ‘false and misleading’, shares of Fairfax group companies - Thomas Cook, CSB Bank and Quess Corp- fell on Monday

Nvidia briefly surpassed Amazon.com Inc in market capitalization on Monday, as the euphoria around artificial intelligence catapulted the chipmaker to the fourth most valuable U.S. company.

Benchmark Sensex plunged by 523 points on Monday due to profit-taking in metal and banking shares amid mixed trends in global markets. The 30-share BSE Sensex settled 523 points or 0.73% lower at 71,072.49 as 22 of its components closed in the red and eight in the green. The barometer opened higher and touched a high of 71,756.58 in early trade.However, profit-taking in Reliance Industries, metal giants and banking shares dragged the index to a low of 70,922.57 during intra-day trade.The broader NSE Nifty also closed 166.45 points or 0.76% lower at 21,616.05 with 34 of its constituents ending in the red.Metal, banking and select oil shares succumbed to selling while pharma and IT shares bucked the trend."The daily chart shows the index forming a lower top, signalling diminishing bullish sentiment. The momentum indicator aligns with this bearish outlook, displaying a crossover. The Nifty might remain ‘sell on rise’ as long as it remains below 21,850. On the downside, support is situated at 21,500," said Rupak De, LKP Securities.Here are 5 stock recommendations for Tuesday:

The Nifty500 has gained 18.1% in the past six months, but the wave did not lift all boats. Trendlyne screener of 40 companies from the Nifty500 index identified stocks that gave negative price changes in both the past six months and the year. The chemicals & petrochemicals sector features prominently with 11 stocks, followed by the banking & finance, retailing, and textiles, apparel & accessories sectors with five stocks each. Here's the list of top 10 wealth eroders in the past 6 months.

The Dow Jones Industrial Average fell 14.93 points, or 0.04%, at the open to 38,656.76.

The S&P BSE Sensex fell more than 500 points while the Nifty50 managed to hold on to 21,600 levels. Sectorally, buying was seen in healthcare and IT stocks while public sector, utilities, telecom and realty stocks saw some selling pressure.

​​After peaking at Rs 65,986.9 crore in the March 2021 quarter, these provisions have gradually cooled off since then. In the March 2023 quarter, they had dropped to Rs 17,956 crore, the lowest in five years, aided by a reversal in provisioning from IDBI Bank.

The momentum indicator aligns with this bearish outlook, displaying a crossover. Nifty might remain in sell-on-rise mode as long as it remains below 21,850. On the downside, support is situated at 21,500, Rupak De of LKP Securities said.

Long unwinding refers to selling of positions or stocks owned for a longer period either to book profit or to exit it in anticipation of impending bearishness. In Monday's trading session, five stocks witnessed a top long unwinding. Here's the list:

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: