On the daily chart, the Nifty has bounced back from close to the 50-day SMA after four sessions of losses. Chartists said that the 14-day RSI at 50.33 is falling and remains below its 9-day EMA, indicating that the momentum is weakening.

Shares of Gap climbed as much as 22% on Friday after the apparel retailer lifted its full-year sales forecast signaling that its turnaround strategy of bringing in newer styles is starting to work.

U.S. equity funds saw outflows for the first time four weeks in the seven days ended May 29, hit by rising bond yields and uncertainty over the timing and extent of Federal Reserve interest rate cuts.

The Dow Jones Industrial Average rose 28.8 points, or 0.08%, at the open to 38,140.26.

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 security from extreme bearishness to bullishness. In Friday's trading session, five stocks saw top short covering. Here's the list:

On the daily chart, the Nifty has bounced back from close to the 50-day SMA after four sessions of losses. Chartists said that the 14-day RSI at 50.33 is falling and remains below its 9-day EMA, indicating that the momentum is weakening.

Five key sectors that could be in focus ahead of the Lok Sabha election results. Indian stock markets are abuzz with speculation about PM Narendra Modi's potential third term on June 4 and its impact on the stock market. Many investors are adjusting their portfolios towards sectors likely to benefit if the BJP retains power, given their infrastructure and capex-focused manifesto. Watch!

The major trend of the market remains intact-to-positive till it holds the formation of higher lows on a monthly scale. After hitting a new peak at 23,110 on Monday, the index consistently fell and ended in red each day throughout the week, hitting a low below the 22,500 mark on Thursday.

Who will win the Lok Sabha Elections 2024? Here's what the brokerage houses are betting on? (Source: ET NOW)

Till a few weeks back, expectation of the street was very clear that policy continuity post 4th June. But then there was a bout of selling from foreign portfolio investors (FPI) and a narrative got created that they are selling due to polls. First logical question to counter this narrative would be to ask a counter question. Do they have some kind of insider information, the answer is surely no. Probably, just a few weeks back, after remaining in the dumps for years, the Chinese market came back into limelight, because of better than expected GDP numbers. So, there was a bit of movement of money. So, there is narrative and there is counter narrative. So rather than getting into a debate, there is a way to take care of both. The only thing is, a decision has to be made either today or Monday. Given the fact that there is a high level of noise on the street, more than anything else it is time to manage the risk of emotional decision making.

Indian stocks turn volatile ahead of election results, but historical data shows little impact on long-term investors. S&P BSE Sensex Index has gained post-elections with a median return of over 11% in the last five elections.

Institutional sellers sold up to a 5% stake in CarTrade Tech for around Rs 200 crore through a block deal on Friday, with Axis Securities as the banker. The company has no promoter holding, with a significant portion of shareholding held by institutional shareholders. Mutual funds and foreign portfolio investors held stakes in the company.

The 30-share BSE benchmark Sensex rose 76 points or 0.10% to settle at 73,961. The broader NSE Nifty gained 42 points or 0.19% to end at 22,531.

Till a few weeks back, expectation of the street was very clear that policy continuity post 4th June. But then there was a bout of selling from foreign portfolio investors (FPI) and a narrative got created that they are selling due to polls. First logical question to counter this narrative would be to ask a counter question. Do they have some kind of insider information, the answer is surely no. Probably, just a few weeks back, after remaining in the dumps for years, the Chinese market came back into limelight, because of better than expected GDP numbers. So, there was a bit of movement of money. So, there is narrative and there is counter narrative. So rather than getting into a debate, there is a way to take care of both. The only thing is, a decision has to be made either today or Monday. Given the fact that there is a high level of noise on the street, more than anything else it is time to manage the risk of emotional decision making.

A long buildup occurs when there is an increase in open interest and trading volumes alongside a rise in the price of the underlying stock in the Futures and Options segment, indicating a bullish trend in the market. In Friday's trading session, five stocks experienced a buildup of fresh long positions. Here's the list:

Indian benchmark equity indices traded higher on Friday, led by financial stocks, with caution setting in ahead of the outcome of the national elections next week. Meanwhile, five midcap stocks from the Nifty500 index reached new 52-week highs in today's trading session. Here's the list:

Brokerages hold a positive view on the metal major Tata Steel despite the firm posting a 64% year-on-year (YoY) decline in its net profit to Rs 611 crore in Q4FY24. The company’s profit was lower by Rs 1,094 crore as compared to the same quarter a year ago and also fell short of D-Street's Rs 991 crore estimates. Meanwhile, the revenue from operations in the reporting quarter too fell 7% YoY to Rs 58,687 crore. Here is how brokerages viewed the Q4 updates:

Given the sheer impact that the govt's policies have had on several sectors, investors have begun to categorise stocks that are direct policy plays into a new basket called Modi stocks. These stocks are related to capex and infrastructure-linked sectors, PSUs, or stocks of some corporate houses.

PTC Industries, a key player in the aerospace and defence sectors, soared 11% after Antique Broking initiated coverage with a 'buy' rating and a target price of Rs 13,010. With robust manufacturing technologies and a strong order book, the company is poised for exponential revenue and profit growth, backed by titanium and super alloy manufacturing.

BofA Securities believes that the company has multiple growth catalysts that will play out over the next 12-18 months. M&M's core business remains steady with market share gains in the SUV segment and a potential turnaround in the tractor biz.

The new Nifty EV & New Age Automotive index, launched by the NSE, aims to track the performance of companies active in the electric vehicles (EV) and new-age automotive segments. This includes manufacturers of electric and hybrid vehicles, hydrogen fuel-based vehicles, green hybrid vehicles, electric batteries, and components. Additionally, it encompasses companies producing or supplying raw materials relevant to EV and autonomous vehicle technologies, as well as, those building autonomous vehicles and supplying related technologies. Here are the top 10 stocks in the new EV index based on weightage:

Adani Group Stocks: Adani Group's FY24 profit surges by 55% to Rs 30,768 crore post Hindenburg crisis. Jefferies favors Adani Enterprises, Adani Ports, and Adani Energy Solutions, citing robust EBITDA growth and strategic initiatives. Adani Ports set to join Sensex on June 24.

231 smallcaps suffer double-digit losses as investors 'sell in May'. Will they come back in June? The stock market cliche of 'sell in May and go away' proved true this year amid general election uncertainties. Concerns over BJP's election performance and significant volatility affected investor sentiments. Benchmark indices like Sensex and Nifty experienced slight declines.

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

Several brokerages have upgraded the target prices of various stocks over the past month. According to Trendlyne data, 10 stocks, including ICICI Bank, SBI, Federal Bank, Maruti Suzuki, and Ambuja Cements, have received up to ten analysts' target price upgrades in the last month. Here is a list of these stocks:

RVNL Share Price: RVNL shares have surged over 1,000% in 2 years driven by strong order inflows and execution. Investors are debating whether to book profits or buy the dip.

Apollo Hospitals shares surged by 3.4% during Friday's early trading session, reaching a peak of Rs 5,955. This uptick followed the company's announcement of a significant 77% year-on-year (YoY) increase in its net profit.

Muthoot Finance shares surged by 4.3% on Friday on the BSE, reaching a day's high of Rs 1,745. This uptick followed the company's announcement of a profit after tax of Rs 1,056 crore, marking a 17% year-on-year (YoY) increase compared to Rs 903 crore reported for the corresponding period last year.

GSM Foils lists on NSE SME at Rs 32 per share, with healthy IPO response of 250 times subscription. The company manufactures Blister Foils and Aluminium Pharma Foils for pharmaceutical packaging, capitalizing on India's robust pharmaceutical industry.

Brokerage firm Macquarie maintained an underperform rating on Zomato and Apollo Hospitals. BofA Securities recommended a buy on HDFC Bank and upgraded M&M to a buy.

During the election season, PSU stocks, also known as 'Modi stocks', surged in value by Rs 7 lakh crore as investors showed confidence in PM Narendra Modi's policies and leadership, especially in defence PSUs like Cochin Shipyard and Bharat Dynamics.

The cost of hedging Indian stocks has surged ahead of the general election’s outcome next week. The NSE India Volatility Index rose 88% in May, the most since March 2020, reaching a two-year high of 24.17% on Thursday.

Indian benchmark equity indices opened higher on Friday. Investors await exit polls post-elections and GDP data release. India's fourth-domestic quarter GDP data is due later in the day.

The Nifty opened weak. It largely stayed down and closed with a loss.

HUDCO, a financial institution, has surged over 300% in the past year, with chart patterns indicating potential for further growth. Short-term traders are advised to buy the stock for a target price of Rs 295 based on expert recommendations. The stock hit a record high of Rs 277 on May 23, 2024 and is trading well above crucial moving averages.

Shares of Trump Media & Technology Group dropped 6.5% after a New York jury convicted former President Donald Trump for falsifying documents. The presiding judge, Justice Juan Merchan, set sentencing for July 11, just before the Republican National Convention.

Federal Reserve's John Williams believes monetary policy is restrictive, aiming to bring inflation down to the 2% target.

Asian stocks rose for the fourth month, while the dollar drifted lower. Investors await inflation readings from Europe and the U.S. for interest rate guidance.

Foreigners pulled money from emerging markets in April, with outflows from Indian and Indonesian stocks leading to a -$0.7 billion net outflow. China equities also saw small outflows in April.

India's national election, spanning six weeks and concluding on Saturday, has financial markets eagerly awaiting the verdict after counting on June 4.

The U.S. failed trades rate stood at 1.90% on Wednesday, stable from Friday, per DTCC. Market expected a rise to 4.1% post T+1 implementation, from 2.9%, as per ValueExchange.

Nasdaq dropped due to tech and communication services sector declines, and slower Q1 growth per Commerce Dept. report.

The S&P 500 Index is now dominated by the six major US companies, Microsoft Corp., Apple Inc., Nvidia Corp., Alphabet Inc., Inc., and Meta Platforms Inc., marking a notable shift in market dynamics.

Equity markets faced losses on Thursday due to uncertainty surrounding the election results. Shares of Apollo Hospitals, ICICI Pru Life, Hero MotoCorp, Muthoot Finance, and Welspun Corp were in focus with notable developments. RR Kabel, Premier Explosives, Suven Pharma, and Bharat Dynamics also had updates.

"Exide Industries, this Auto battery manufacturing stock has given a Pole and Flag pattern formation breakout on the weekly frame and is respecting its 20-week EMA. Traders can buy for a target of Rs 530 in the next 2-3 weeks," says Shivangi Sarda, Analyst, Derivatives and Technical Research, Motilal Oswal Financial Services Ltd.

It also enables the applicant to select the appropriate options with respect to their past regulatory track record on the basis of actions of Sebi as well as the details of other ongoing proceedings, if any, as on date of filing the settlement application, the regulator said in a release.

The fund is collected by premiums received from insured banks, interest income from investments, and cash recoveries from failed banks. The deposit insurance limit in India is set at ₹5 lakh per depositor per bank.

In the wholesale segment, the outstanding amount stood at ₹8 lakh in March 2024, from ₹10.6 crore last year, and in the retail segment, the amount climbed to ₹234 crore in March 2024, from ₹6 crore last year. India's CBDC, the Digital Rupee (e₹), is a digital form of its official currency, introduced after the FY23 budget.

The Reserve Bank of India (RBI) Thursday said that banks must reduce their reliance on wholesale deposits to fund loans and be watchful of the risks associated with their advances and trading exposures amid interest rate fluctuations.

The Reserve Bank of India is on a drive to raise the use of technology in key areas like supervision and risk management but flagged the downside risks and how widespread the challenges could be in the adoption of Artificial Intelligence and Machine Learning.