Target Price: Rs 651Stop Loss: Rs 610BPCL has regained strength after a throwback and closed near the high indicating strength in the upward move. The increase in volume suggest that the buyers are interested in the security at the current rate. Price is trading above Fast (21) and Slow (50) EMA indicating a bullish trend in the security. On the momentum front, RSI is trading in a higher range, which indicates an upward move in the security.(Kunal Kamble, Sr. Technical Analyst, Bonanza Portfolio)

The Dow Jones Industrial Average rose 99.92 points, or 0.26%, at the open to 38,372.67.

Despite a premium listing, the muted opening was due to the highly competitive market environment in which the company is operating and also the current market sentiments.

The S&P BSE Sensex rose over 200 points while the Nifty50 closed above 21,800 level. Sectorally, buying was seen in oil & gas, public sector, energy and metal stocks while selling was seen in IT and healthcare stocks.

The index is currently placed at the edge of breaking above the immediate hurdle of 21,850 level and a decisive move above this resistance is likely to pull Nifty towards 22,000-22,100 levels in the short term. Immediate support is at 21,720 level, said Nagaraj Shetti of HDFC Securities.

Over 15 mutual fund (MF) schemes have reduced their investments in four stocks during January 2024 compared to December 2023, according to an MF analysis by ETMarkets. Notably, among these stocks, three have seen a share price rise ranging from 10% to 50% in the fiscal year 2024 to date, whereas one stock declined around 12% during the same period (Data Source: ACE MF). Check the list to see if you hold any of these stocks:

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

The special session would be divided into two parts - the first session would begin from 9:15 am and run till 10 am. Trading in this session would be done from the primary site. In the second session from disaster recovery site, trading would be held for one hour from 11:30 am till 12:30 pm.

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 Wednesday's trading session, five stocks saw top short covering. Here's the list:

"The key trigger of Jana SFB’s strong fundamentals is that it intends to strengthen its liability franchise with a focus on growing its deposit base to attain a stable and low-cost source of funding. Thus, we advise the investors who have been allotted the shares to hold them for the long term," said Shreyansh V Shah, Research Analyst, StoxBox.

Mankind Pharma has built a strong distribution network, which, along with its assertive marketing, has helped create mega brands like manforce, prega news, acnestar, health OK. Led by ramp-up of specialty divisions, increased chronic contribution and improved field force productivity, Mankind is likely to report 14% domestic sales CAGR over FY23-26, says Purvi Shah of Kotak Securities.

IT companies, which earn a significant share of their revenue from the US, lost about 3%, after data showed that inflation in the world's largest economy slowed less than expected in January, hurting market expectations of an early Federal Reserve rate cut.

Analysts said the negative performance falls significantly short of pre-listing expectations and raises questions about investor confidence in the bank's prospects.

IT companies, which earn a significant share of their revenue from the US, lost about 3%, after data showed that inflation in the world's largest economy slowed less than expected in January, hurting market expectations of an early Federal Reserve rate cut.

However, FPIs' contribution to Indian equity market capitalisation fell marginally during the quarter under review to 16.83 per cent from 16.95 per cent in the previous quarter.

In the last three days, including this morning when markets opened for trading, all those investors who have overloaded small caps in their portfolio have probably gone through three different emotions. Monday , my portfolio has gone dramatically, should I sell. Tuesday, my portfolio value has recovered, it was just a correction, should I buy more. This morning, once again why the value of my portfolio is down, should I sell. For all those who have gone through these emotions. Let the market be volatile, don't make volatile decisions. Corrections are part of any market and especially when valuations are high, the frequency and magnitude of correction will be higher. For all those who are looking to deploy more money and are focussed on small caps, it would be better to put more checks and balances, both qualitative and quantitative and be selective in buying stocks. More importantly, even after putting in all the efforts of checks and balances, be ready to see a short term drawn down in the value of your portfolio, because if there is a deep correction in the markets, small caps, stocks tend to shed more weight.

It was in 2005 that RIL first hit the Rs 1 lakh crore market cap and now today, its market cap stands above Rs 20 lakh crore. Here's a look at some interesting facts about RIL's m-cap journey: (Source | TOI)

Whether it is an individual or a company, interest rates matter to every segment of the economy, the only difference is how strong is this co-relationship. For an individual, his or her EMI, right from home loans to personal loan to auto loan is decided by interest rates. For companies the cost of capital is decided by interest rates and capital is the lifeline for all companies. When it comes to companies, there are certain sectors which get impacted by movement in interest rates more than others. The reason is that both the demand for their product and service and their own ability to grow and have better margins has strong co-relationship with interest rates. Now with higher probability of interest rate coming down, will companies from contracting and construction space which work on wafer thin margins have better margins? If Yes, then order books which in any case are brimming may deliver more than expected.

Indian shares declined on Wednesday, led by IT and financials, after hotter-than-expected US inflation fuelled concerns of further delay in interest rate cuts, weighing on sentiment. However, in today's trade, five large & midcap stocks from the Nifty200 index hit a new 52-week high. Here's a list:

As we know, the prices of financial instruments like stocks, forex, and commodities fluctuate in fractions of a second.

Whether it is an individual or a company, interest rates matter to every segment of the economy, the only difference is how strong is this co-relationship. For an individual, his or her EMI, right from home loans to personal loan to auto loan is decided by interest rates. For companies the cost of capital is decided by interest rates and capital is the lifeline for all companies. When it comes to companies, there are certain sectors which get impacted by movement in interest rates more than others. The reason is that both the demand for their product and service and their own ability to grow and have better margins has strong co-relationship with interest rates. Now with higher probability of interest rate coming down, will companies from contracting and construction space which work on wafer thin margins have better margins? If Yes, then order books which in any case are brimming may deliver more than expected.

PSU stocks have rallied, partly supported by the govt's capex push but sector-specific reasons have also helped. The PSU Bank index has advanced 78% YoY, outperforming the private banks by 70 ppt, while oil PSUs have seen a sharp rally since October 2023 as the govt chose not to cut auto fuel prices despite a busy election calendar and a drop in crude oil prices.

Adani Green Energy (AGEL) shares rose nearly 4% to Rs 1,882 in Wednesday's trade on BSE after the firm said that it has operationalized 551 MW solar capacity in Khavda, Gujarat, by supplying power to the national grid.

The issue saw participation from corporates, insurance firms, wealth funds and institutional investors. The issue, launched on February 6, was fully subscribed, and closed on the same day.

In intraday trade, shares of the wealth management firm hit its 52-week high of Rs 3,898 and Rs 3,895 apiece on the NSE and the BSE, respectively.

The price action was accompanied by strong volumes with nearly 3.60 crore shares changing hands on the NSE around 10:15 am. The total traded value of the share stood at Rs 528.56 crore. The uptick in today's session has broken the stock's five-session losing streak.

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

Cash-strapped SpiceJet is short on liquidity, and investors are apprehensive about fund infusion, CNBC-TV18 said, citing sources. Additionally, the airline company has also delayed salary payments to many of its employees.

A clutch of brokerages remains optimistic about the long-term story of Hindalco expecting the company to benefit from Novlis capex, over time. While Jefferies, Motilal Oswal and JM Financial have reiterated their buy views, Kotak Institutional Equities has an 'Add' stance. Nuvama on the other hand has recommended a hold and cut the price target.

After a phase of correction, there have been signs of some respite both in private and PSU banking space. In the case of the private sector, except HDFC bank which is still quoting close to its recent lows, others have been able to start their upward journey once again. In the case of PSU banks, in the last two days of volatility movement, they have been the ones which have been able to recover faster indicating continued interest in the space. Now this is again a risker trade but for traders, it is time to keep a watch on private banks as they might see a bounce back when FPI’s turn net buyers. Also this would mean that Bank Nifty which has underperformed may make a strong comeback. Yes, there will be higher volatility in short term, but if induced by volatility if one is taking any sell decision in the private banking space, one should remember that the banks in question have created wealth in the long term and even the best of the wealth creators go through a phase of consolidation due to factors like over ownership and what might appear to be a phase of under performance.

Each of the two would have numerous personal financial objectives when they started dating or are newly married. They must first know that discussing money with your partner is not just about the practical side of things; it's deeply rooted in trust and communication.

Price growth dropped to an annual rate of 3.1% in January, according to official data; above economists’ expectations of 2.9%. In December, the consumer price index stood at 3.4%.

The management retained its long-term revenue growth guidance at 40%+ YoY on the back of continued strength in Blinkit performance that will more than compensate for the slower growth in food delivery.

According to a report by PRIME Database, Paytm shares worth Rs 7,441 crore were offloaded by foreign investors in the December quarter, making it the top sell by FIIs in the quarter gone by. Their holding value in Paytm's parent company, One97 Communications, dropped to Rs 25,706 crore from Rs 33,148 crore at the end of the third quarter.

The ace investor owns more than 50 stocks, the value of which is estimated to be around Rs 5,000 crore. While multibagger BSE is his largest bet where he held around 1.5% stake at the end of the December quarter, 11 of his bets have given double-digit returns in 2024 so far.

The global investment bank sees 47%/50% CAGR for Airport/ANIL EBITDA over FY24-FY28. The balance sheet is well-placed to take up the rise in capex.

Nifty went into negative territory soon after open. But it found strength to enter the positive zone and close with a gain.

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

About 10 companies posted a profit in the quarter ended December, after reporting losses in the preceding three quarters, data by Ace Equity showed.

The Royal Enfield motorcycle manufacturer on Tuesday reported a strong 34.4% year-on-year (YoY) growth in consolidated net profit for the quarter ended December to Rs 996 crore, and this was tad higher than an ETNow poll of Rs 969 crore.

Price growth dropped to an annual rate of 3.1% in January, according to official data; above economists’ expectations of 2.9%. In December, the consumer price index stood at 3.4%.

The IPO, which comprised fresh equity worth Rs 462 crore and an offer for sale (OFS) of 26.08 lakh shares, received healthy response from investors as the issue was booked 18.5 times at close.

The IPO comprised a fresh equity issue of Rs 450 crore and an offer for sale (OFS) of 15.61 lakh shares. Under the OFS, Oman India Investment Fund, Amicus among others offloaded shares.

Online food delivery aggregator Zomato reported a robust set of numbers for the quarter ended December, which beat analysts’ expectations. The company is set to deliver strong 70% YoY growth in FY24, with Blinkit outpacing the food delivery business because of geographical expansion, improvement in order frequency, and moderation in a competitive environment in the quick commerce industry, says Sneha Poddar of Motilal Oswal Financial Services.

The issue closed on February 9 and was completely a fresh equity issue of Rs 600 crore. Ahead of the issue opening, the company raised Rs 180 crore from anchor investors, where White Oak Capital, Ashoka India, ICICI Prudential, Volrado Ventures among others invested.

Global broking firm Macquarie, which has shared a love-hate relationship with Paytm stock, has downgraded the new-age stock to underperform with a target price going as low as Rs 275.

A host of brokerages have downgraded the target prices of several stocks in the last one month. Trendlyne data shows that 10 stocks, including HDFC Bank, ITC, Bandhan Bank, Polycab India, and HUL faced up to four analysts' target price downgrades in the last 1 month. Here's a list of these stocks:

Price growth dropped to an annual rate of 3.1% in January, according to official data; above economists’ expectations of 2.9%. In December, the consumer price index stood at 3.4%.

Nvidia's shares slipped 0.17%, leaving its stock market value at $1.78 trillion, eclipsing Amazon's $1.75 trillion value after the online shopping and cloud-computing heavyweight's stock declined 2.15%.

The latest shift in rate expectations came after an upside surprise in U.S. inflation on Tuesday which showed the consumer price index (CPI) rising 3.1% on an annual basis, above forecasts for a 2.9% increase.