Both, in terms of bottomline and stock price performance, pharma stocks had been under pressure for a long time. Partly this under performance was due to over valuation at which these companies were trading since 2015. Also stocks came in the overowned category for both the institutional and retail investors portfolio. Last but not the least, close to 2014, USFDA inspections became both more in numbers and stricter, many companies which assumed that they can take care of anything, got a rude shock. After all the head and tailwinds, many companies which had changed their focus, fruits are visible in terms of them moving into new markets and better financials.

The brokerage has a “buy” rating on the stock with a fair value of Rs 3,200, implying an upside potential of nearly 29% from the current levels. So far in 2023, the stock has given 24% returns to investors and hit an all-time high of Rs 2,745.10 in July.

Last month, Nomura had also upgraded the Indian equity market to overweight status saying that valuations may remain expensive. In August, Morgan Stanley had upgraded India to overweight rating and ranked India as the No. 1 market in its basket of Asian emerging markets ex-Japan on the back of a structural uptrend and secular leadership.

The realty stock hit a 52-week high of Rs 564 on 10 October 2023. The stock has been in a strong uptrend after it surpassed the 2009 high of Rs 490 on 31st August 2023.

A decade ago, tenants were attracted to India because of its cost arbitrage, but it has evolved as a key market for the execution of ideas conceptualized in the US due to the availability of skilled personnel.

In July, Al Jazeera had reported that Bank of Baroda officials had linked bank accounts to unrelated mobile numbers to achieve stiff targets to get customers to join the app.

InterGlobe Aviation has given strong index-beating returns in 2023, aided by the robust demand for leisure as well as corporate travel, and market share gains due to financial troubles that some of its peers are reeling under. Attractive valuations and the ability to pass on cost increases in the form of price hikes makes a case for investing in the IndiGo airline owner, according to Arun Agarwal of Kotak Securities.

The markets opened higher and ended on a strong note.

While IT stocks have been underperforming the broader market for more than a year, But at this point of time as second quarter results start to pour in, they witnessed another round of sharp correction. This was in the backdrop of some of the US IT services companies indicating that the operating environment is tough at this point of time. But sometimes, even the management are caught on the wrong foot, like in early 2021 when they went on a hiring spree only to reverse in less than two years. Stock Reports Plus, powered by Refinitiv, is a comprehensive research report that evaluates five key components of 4,000+ listed stocks - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores.

CLSA Asia Pacific Markets and Kotak Institutional Equities have raised their target price on the company by 7-8%, with both the brokerages maintaining a ‘buy’ or ‘add’ rating. The shares closed with over 2% gains at 480.65 rupees on Tuesday, also supported by strength in the broader market.

Ahead of Q2FY24 earnings, a host of brokerages have initiated coverage on several counters. They see a strong potential for value unlocking in these companies, which includes Adani Ports, KPIT Technologies, and Cyient, with a targeted upside of up to 40%. Here is a list of 6 stocks on which brokerages initiated coverage ahead of Q2FY24 results:

That took the gauge, as of Monday’s close, to the weakest-ever level relative to the S&P 500 Index in data going back to 1987. The ratio has since recovered as the emerging-market benchmark rose more than 1% in Tuesday’s session.

Shares of the country’s largest miner closed over 5% higher at 303.25 rupees, and were the best performers on the Nifty 50, which itself ended with a near 1% gain. The shares are up by almost a third in three months, and experts believe there is further steam for the rally to continue in the near term.

The MWPL for Delta Corp stood at 81.8% on Tuesday with OI reported by Trendlyne at 10.8 million. It was down 1.9% from the previous session.

From the Sensex stocks, Axis Bank, ICICI Bank, L&T, Wipro, and Tata Motors opened with gains, while only Power Grid Corporation opened with cuts.

On Dalal Street, investors are betting big on the boom with the Nifty Realty index now trading at 15-year high levels.

Sensex gains 350 points, Nifty nears 19,800; Sunteck rallies 5%, BoB sheds 2%; Vodafone Idea, YES Bank , NBCC (India) are some of the gainers in the morning trade.

Jefferies has a buy rating on Sunteck Realty and Prabhudas Lilladher recommends a buy on Hindalco Industries.

GIFT Nifty on the NSE IX traded higher by 7.5 points, or 0.04 per cent, at 19783.50, signaling that Dalal Street was headed for muted start on Wednesday. Here's a slew of stocks that will be in focus today for various reasons.

Nearly seven dozen stocks are trading with momentum indicator RSI trending up. ETMarkets has picked five stocks in this pack to give insights about their movement trends on October 10, Tuesday, ahead of the market opening today. 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)

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 ICICI Bank and NMDC, while Nooresh Merani has a buy/sell recommendation on NMDC and Bandhan Bank for today's trading session. Check out the targets and stoploss.

India VIX was down by 1.14% from 11.40 to 11.27 levels on Tuesday. Volatility cooled off and comforted the bulls.

There were broad-based gains in the market, but the midcap and smallcap segment saw more action on Dalal Street.

In the Nifty500 pack, we have collated a list of nine stocks that witnessed a 5-year swing high at the close on October 10, 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.

In the NSE list of stocks with a market cap of over Rs 10,000 crore, four stocks' close prices crossed above their 200 DMA (Daily Moving Averages) on October 10, according to stockedge.com's technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend.

Wagers on whether the Fed might hike again this year have pulled back a bit this week and Treasury yields have come sharply down from 16-year highs, yanking the dollar with them.

An all-stock deal could be announced as soon as Wednesday, the person said.

The SEC proposal, first broached in 2022, angered some activist investors who claimed that having to step forward sooner could make it unprofitable to build the ownership positions they need for successful takeover campaigns.

Daly repeated her view that the recent run-up in long-term bond yields could substitute for a further Fed rate hike because the higher yields make it more expensive to borrow and can slow spending and investment.

The 10-year Treasury yield came off its 16-year peak on Tuesday, and was tracking for its steepest single-day drop since August, as trading resumed in the U.S. bond market which had been closed for a holiday on Monday.

​​Chemicals and Petrochemicals with 110 individuals and Industrial Products with 96 are the other industries that have given rise to a large number of richest Indians. The study looked at the wealth of 1,319 individuals across the country with a net worth of at least Rs 1,000 crore.

"Media stocks are on the rise amid the cricket world cup and upcoming elections. We suggest traders buy TV18 Broadcast for potential target levels of 50.50-51 levels in the next 4 weeks," Jay Patel, Research Head at Investmentor Securities Limited, said.

The exchange is set to go live with its new commodity derivative platform from Monday. The exchange will conduct a mock trading session on October 15.

The central bank’s action comes almost three months after a news network exposed how the bank linked bank accounts to unregistered mobile numbers and signed up these numbers to the application. Even though customers were deregistered after they signed up, it led to an artificial increase in the number of downloads and sign-ups.

The profitability of banks is likely to be affected in the second quarter due to higher deposit rates and rising treasury yields. This will slow profit growth as the higher cost of funds impacts banks' net interest margins. The advantage that banks had on net interest margins will decrease as deposit rates reprice higher. US-based brokerage Jefferies expects banks' profit growth to slow to 12% as margins contract.

The Reserve Bank of India (RBI) has announced that it will bring state-owned non-banking finance companies (NBFCs) under the prompt corrective action (PCA) framework from October 2023. The central bank will review the financials of these NBFCs as of March 2024. The PCA framework was initially introduced for NBFCs on December 14, 2021, to address their growing size and systemic importance.

Prakash Chhabria-led Orbit Electricals has filed an appeal in the Supreme Court challenging the non-disclosure of the voting outcome regarding the re-appointment of Deepak Chhabria as the Executive Chairman of Finolex Cables at its annual general meeting (AGM). The Supreme Court hearing is expected to take place this week. Last week, Finolex Cables did not disclose the voting results, and the National Company Law Appellate Tribunal (NCLAT) has reserved its order on the matter. Prakash Chhabria and Deepak Chhabria have previously accused each other of trying to gain control of Finolex Cables.

This decision comes as SBI had categorised the loan as a non-performing asset (NPA) in 2020 when a central bank circular prohibited banks from classifying accounts as NPAs due to the ongoing pandemic.

Market experts that ET spoke to believe that long term investors need to focus on the India growth story rather than feeling concerned over the FPI selling, which has more to do with global geopolitical issues

NSE's Nifty rose 177.5 points, or 0.91%, to close at 19,689.85. BSE's Sensex climbed 566.97 points or 0.87% to close at 66,079.36. Both indices had fallen over 0.7% on Monday as the escalation in geopolitical tensions in the Middle East resulted in oil prices surging.

Industrialist Gautam Adani, despite a 57% erosion in wealth, was ranked second in the list with a wealth of ₹4,74,800 crore. Last year, he was ahead of Ambani by ₹3 lakh crore.

"The rally in Nifty's Realty index broke its September high levels which is an indication of resumption of the uptrend in the segment," said Ruchit Jain, lead research analyst at 5Paisa.com.

The European markets regulator in October 2022 de-recognised six domestic clearing houses, creating hurdles for trading and management of billions of dollars' worth of international flows for the continent's banks operating in India.

After panic signals on Monday, stocks rebounded on Tuesday, brent crude oil shed some gains and the rupee partly recovered and remained only a tad lower against the greenback than the October 6 (pre-war) level, as markets began to gauge the precise impact of the conflict in the absence of any fresh trigger point.

The media stock corrected in line with the muted trend seen in broader markets. However, events like the Cricket World Cup as well as the general elections in 2024 will attract interest amid expectations of higher ad revenue, suggested experts

The pan-European STOXX 600 jumped 2% higher, its biggest one-day percentage gain in nearly a year. The benchmark index fell 0.3% on Monday as military clashes between Israel and the Palestinian Islamist group Hamas sent oil prices surging and investors seeking the safety of bonds and gold

The 10-year Treasury yield came off its 16-year peak on Tuesday, as trading resumed in the U.S. bond market after Columbus Day, also known as Indigenous Peoples' Day

Market experts that ET spoke to believe that long term investors need to focus on the India growth story rather than feeling concerned over the FPI selling, which has more to do with global geopolitical issues

A trend reversal was witnessed in Nifty on Tuesday which ended about 177 points higher to form a bullish inverted Head and Shoulder pattern on the daily chart

Monetary policy in the six-member Gulf Cooperation Council (GCC) is usually guided by policy decisions by the Fed because most regional currencies are pegged to the U.S. dollar.