The benchmark Sensex witnessed a notable rise of approximately 486 points on Monday, closing at 65,205. During this significant surge, five stocks listed on the BSE FMCG index achieved new highs within the 52-week timeframe. The 52-week high is an important factor for certain traders and investors, serving as a vital technical indicator to assess a stock's current value and anticipate possible price changes. It signifies the highest price at which a stock has been traded in the past year.

Russia, seeking to nudge up global oil prices in concert with Saudi Arabia, will reduce its oil exports by 500,000 bpd in August, Deputy Prime Minister Alexander Novak said on Monday, further tightening global supplies.

Thanks to $10 billion-strong support by foreign institutional investors in the first quarter of FY24, the bulls are having a dream run on D-Street. Both Sensex and Nifty are hitting fresh all-time highs. For those invested in the market, this is a rewarding period. ETMarkets has identified 7 Nifty stocks that are available for less than Rs 1,000 and are among the most well-established companies in India. Watch

The Relative Strength Index (RSI) is a momentum oscillator used by investors to assess whether a stock is overbought or oversold. When the RSI value crosses above 70, it indicates that the stock is in an overbought zone. StockEdge reported over 40 stocks trading up recently, and ETMarkets selected 10 stocks that are currently in an overbought zone. Some of the stocks include Indian Bank, IDBI Bank Ltd, and Tata Consultancy Services Ltd. Please note that the data is subject to change.

After a recent rally, the Nifty index closed at a record high above 19,300 levels and has been consistently making higher highs and higher lows. Analysts suggest that the index needs to hold above the 19,250 zone to continue its upward movement towards the 19,400 and 19,500 zones. On the downside, support is seen at 19,100 and 19,000 levels. Traders should be cautious about potential profit booking due to temporary overbought conditions. Bank Nifty is also expected to continue its upward momentum with a target of 45,500 levels.

The Golden Crossover is a technical chart pattern used by traders and investors to assess stock movement. It occurs when a shorter-term moving average crosses above a longer-term moving average, creating a bullish signal. This pattern helps identify potential trend reversals and entry points for investors, and provides confirmation for long-term investors. Ten stocks that have experienced the Golden Crossover, including 3M India Ltd, ABB India Ltd, and Hero MotoCorp Ltd, have been highlighted by Trendlyne. However, it is important to note that the current market price may differ slightly from the closing price on Trendlyne.

Several stocks, including Hero MotoCorp, Coal India, Bosch, Bajaj Finance, UPL, Tata Power, DLF, Indian Oil Corporation, and Hindustan Unilever, closed above their 20-day Simple Moving Average (SMA) on June 30, 2023. Crossing the 20 SMA indicates potential bullish momentum and a positive trend for these stocks. These companies operate in various sectors, such as automotive, mining, finance, agrochemicals, power, real estate, and consumer goods. However, it is important to note that this article was generated using AI, and the views expressed do not represent those of the Economic Times.

On the domestic equity market front, the 30-share BSE Sensex rallied 486.49 points to hit a fresh record of 65,205.05 and the wide-based Nifty settled at an all-time high of 19,322.55. Both indexes hit fresh record highs earlier in the session. Financial services stocks were among the top gainers on Nifty's sectoral indexes, rising 1%. Index heavyweights HDFC and HDFC Bank gained 1.75% and 1.08%, respectively, after approving July 1 as the effective date of their $40 billion merger.

Stocks such as Biocon, Coal India, Tata Consultancy Services, Indian Overseas Bank, Emami, Bandhan Bank, and Kotak Mahindra Bank have all closed above their 200-day Simple Moving Averages (SMA) on June 30, 2023. This indicates potential upward momentum and a possible bullish trend for these stocks. Biocon specializes in healthcare solutions, Coal India is a major player in the energy sector, TCS is a global leader in IT services, Emami focuses on consumer goods, and Bandhan Bank and Kotak Mahindra Bank are prominent private sector banks.

The Association of Mutual Funds in India (AMFI) is set to release the results of its stock categorization review, with expected changes to the largecap, midcap, and smallcap categories. According to Nuvama Institutional Equities, seven stocks will be upgraded to the largecap category, including Punjab National Bank and Shriram Finance. Additionally, nine stocks are likely to be downgraded from smallcap to midcap, such as Punjab & Sind Bank and Bharat Dynamics. Nuvama also predicts the movement of eight stocks from largecap to midcap, and ten stocks from midcap to smallcap.

IIFL Finance, a non-banking finance company, has raised $175 million through external commercial borrowing (ECB). The funds were raised from HSBC, Union Bank's Sydney branch, and Bank of Baroda's IFSC unit. This brings the total ECB raised by IIFL Finance to $275 million since March. The company aims to strengthen its asset liability position, support growth, diversify borrowing sources, and lower overall borrowing costs. The money has been priced at SOFR plus 200 bps. IIFL Finance operates over 4,000 branches and offers various types of loans. It closed FY23 with a net income of Rs 1,607.5 crore and a low NPA ratio.

Several S&P BSE 100 stocks, including Ashok Leyland, Cholamandalam Investment & Finance, Dr Reddy's Labs, HCL Tech, HDFC, HDFC Bank, IndiGO, IndusInd Bank, IOC, and ITC, reached new 52-week highs, indicating strong growth and investor confidence. Notable achievements include Ashok Leyland hitting a high of Rs 173.85, Cholamandalam Investment & Finance reaching Rs 1,168.00, and Dr Reddy's Labs hitting Rs 5,176.25. These stocks represent diverse sectors such as commercial vehicles, non-banking financial institutions, pharmaceuticals, technology, housing finance, airlines, and banking.

Several stocks, including IDBI Bank, Tata Consultancy Services, Punjab National Bank, Mphasis, Marico, Union Bank of India, UCO Bank, Indian Railway Catering and Tourism Corporation (IRCTC), Bosch, and Indian Bank, have crossed their 50-day Simple Moving Average (SMA) on June 30, indicating potential short-term upward momentum. These stocks represent a range of industries, including banking, IT services, consumer goods, and engineering, suggesting positive developments in these sectors.

Shares of Vasa Denticity surged 20% after investor Ashish Kacholia acquired a stake in the company. Kacholia purchased approximately 4.39 lakh shares while some existing shareholders sold their shares. Since its listing on the NSE SME platform, the stock has nearly tripled, increasing by around 207%. Vasa Denticity is an e-commerce dental products company and has plans to expand its portfolio and become a hub of innovation and quality for dental professionals. The company has shown strong financial growth with a high return on equity and capital employed, as well as increasing revenue and orders.

Tata Consultancy Services (TCS), an IT major, is expected to announce a share buyback proposal along with its quarterly results, according to Jefferies. TCS had previously announced a buyback worth Rs 18,000 crore in 2020. Other IT companies such as Wipro are also engaging in share buybacks. Jefferies predicts that IT companies may report a decline in revenue and margins due to wage hikes. Motilal Oswal expects a modest YoY growth in revenue and a drop in profit for the June quarter. IT companies have been cautious in their guidance amid a challenging global environment.

Among Sensex stocks, ITC, Reliance, Bajaj Finance, and SBI were the top gainers, surging 2-3% each. HDFC, UltraTech Cement, M&M, HDFC Bank, Tata Steel and ICICI Bank also ended higher.

Shares of Paytm parent One 97 Communications have surged 61% while those of PB Fintech are up 60% and Zomato 28% so far this year, in a sign of revival in new-age stocks. From 52-week lows, all consumer tech stocks have given double-digit returns. What's fuelling the rally in these tech stocks and how sustainable is it? Here's the lowdown.

The June quarter earnings for the information technology (IT) sector are expected to be weak due to a slowdown in discretionary spending. Factors such as scaled-down budgets, lack of operating leverage, higher costs, transition costs, and pricing pressures are expected to weigh on earnings. IT companies are projected to report a 5.3% YoY revenue growth for the quarter, with a mere 0.4% sequential growth. Analysts also anticipate major IT players like Infosys and HCL Technologies to lower their sales growth outlook for FY24.

The soaring price of Apple shares is causing concern for fund managers who may not own enough of the stock. Apple's weight in stock indexes has reached record levels, with its market capitalization exceeding $3 trillion. However, many investors have smaller allocations to Apple than its relative weighting in indexes due to concerns about holding too much of one position or regulatory limitations. This could hurt the performance of active fund managers who aim to outperform indexes. Only 26 out of 418 US broad market funds have a greater weight in Apple than its weight in the S&P 500.

The Relative Strength Index (RSI) is a valuable technical indicator that measures a stock's momentum and identifies overbought or oversold conditions. An RSI reading above 70 indicates overbought conditions, while a reading below 30 suggests oversold conditions. Understanding the RSI helps investors identify entry or exit points and manage risk effectively.

Several stocks, including Indian Bank, Canara Bank, Thermax, Tata Consultancy Services, Wipro, Atul, and Sun TV Network, closed above their 100-day Simple Moving Average (SMA) on June 30, 2023. This indicates potential short-term upward momentum and the emergence of a bullish pattern. These stocks belong to various sectors, including banking, engineering, IT services, chemicals, and media. Please note that this article has been generated by AI and contains data sourced from StockEdge. The opinions expressed in this article do not represent those of the Economic Times.

The recent rally in the stock market may be nearing its end, according to experts. They cite several short and medium-term risks, including potential global economic recession, signs of slowdown across sectors in India, and stretched valuations. The banking sector may no longer be attractive, as interest rates have peaked, while the IT sector is facing headwinds from the global economic fallout. Additionally, the consumption side of the economy is looking cloudy, with lower discretionary spending and inventory pile-ups. A 5-6% correction is needed to clear the froth, and investors are advised to be cautious in the short term.

The RSI or Relative Strength Index of a stock is the ratio of the recent upward price movement to the absolute price movement. The value of RSI ranges between 0-100. The data computes the value of RSI by taking 14 days as the reference period. So, here are 9 largecaps whose RSIs have crossed 70 mark from below, suggesting an overbought state. (Source: StockEdge)

Shares of Paytm parent One 97 Communications have surged 61% while those of PB Fintech are up 60% and Zomato 28% so far this year, in a sign of revival in new-age stocks. From 52-week lows, all consumer tech stocks have given double-digit returns. What's fuelling the rally in these tech stocks and how sustainable is it? Here's the lowdown.

The Indian stock market is currently at its highest level ever, with the benchmark index Sensex scaling past the 65,000 mark on Monday. The market has been consistently rising for the past three trading sessions. Despite the overall market being at an all-time high, ETMarkets has identified nine Sensex stocks with a significantly lower price-to-earnings (P/E) ratio compared to their respective industry average. These stocks have a trailing twelve months (TTM) P/E value is 20% lower than their industry average P/E. Among these stocks, four are from the IT sector (Data Source: ACE Equity).When a stock's price-to-earnings (P/E) ratio is lower than the P/E ratio of its industry, it is generally regarded as being undervalued in comparison to its peers within the same industry.

Shares of Reliance Industries (RIL) surged over 2% to a near six-month high on news of a potential Jio 5G phone launch. Despite this positive development, Jio's bundled handsets, JioPhone Next, have reportedly seen limited sales despite heavy discounting. Meanwhile, Reliance Industries and bp Plc announced the start of production from the MJ oil and gas field, which will increase India's natural gas output. Outlook remains positive, with Jefferies giving a 'Buy' tag to RIL and a price target of Rs 3,125, anticipating faster revenue growth and limited downside.

Motilal Oswal has reiterated a 'Buy' rating on One 97 Communications stock, with a price target of Rs 1,050. The brokerage believes the stock has the potential for gains of over 21% from current levels. Motilal Oswal highlights the fintech company's strong business momentum and ability to maintain a high-quality loan portfolio as key factors for its positive outlook. The recommendation follows BofA Securities' 'Buy' rating on the stock with a price target of Rs 1,020. The stock fell nearly 2% on Monday due to profit booking.

The Relative Strength Index (RSI) is an important tool for analyzing stock movement and identifying potential opportunities. RSI indicates whether a stock is overbought or oversold and helps understand its strength and momentum. A declining RSI may signal a loss of upward momentum, while a high RSI suggests the stock may be overbought. RSI can be used alongside other indicators to validate trading signals and support investment decisions. ETMarkets has picked 10 stocks with declining RSI for further exploration.

Several S&P BSE Smallcap stocks, including ADF Foods, Amara Raja Batteries, Anant Raj, Angel One, The Anup Engineering, Apar Industries, Arman Financial Services, and Arvind, reached new 52-week highs, indicating positive market sentiment. These companies operate in various sectors such as Indian food products, automotive and industrial batteries, real estate development, financial services and wealth management, precision engineering, specialty oils, power transmission conductors, microfinance and SME loans. They are known for their strong performance and diverse portfolios in their respective industries.

Technical analysis tools are used for better prediction of future trends and prices of stocks. Average Directional Index (ADX) is one of the indicators or tools. Here's a list of 6 major stocks that are entering the consolidation phase after a strong trend as the ADX of these counters has crossed 40 from above. (Source: StockEdge).

Pakistan's benchmark share index rose over 6% after securing a $3 billion financial package from the IMF. Auto stocks increased as import restrictions are expected to ease. Automakers, including Pakistan Suzuki Motor and Honda Atlas Cars, experienced gains of 7.5% while Indus Motor Co. rose 6%. With the import ban lifted and the IMF deal secured, companies in the auto sector will not face any supply chain issues.

The Relative Strength Index (RSI) is an important indicator for investors to assess stock movement. This article explores stocks that are currently overbought but have a bearish RSI trend. The RSI, which ranges from 0 to 100, helps identify whether a stock is overbought or oversold. An RSI above 70 suggests overbought conditions, while below 30 implies oversold conditions. This information can assist investors in making informed decisions and managing risks effectively. The article provides a list of 10 stocks currently in the overbought zone with a bearish RSI trend.

Motilal Oswal, a domestic brokerage firm, has stated that the valuations of Indian stock markets are now more reasonable compared to their highs in October 2021. The Nifty trades at a 12-month forward P/E of 18.8x, at a 6% discount to its long-period average. Nifty EPS grew by about 19% during FY20-23. Despite the Nifty reaching new highs, it has remained almost flat over a two-year period. The bull run has been fueled by strong FII flows, solid corporate earnings growth, and expectations of high-teens earnings CAGR over FY23-25. The upcoming June quarter earnings season will be closely watched.

Indian equities are expected to continue their double-digit gains in the current quarter due to favorable conditions compared to other emerging markets. The Nifty 50 index has historically performed well in the July-September period, with high single-digit to low double-digit returns. Strong foreign portfolio investor (FPI) inflows, supported by strong corporate earnings growth and favorable macroeconomic conditions, have driven the recent market rally. FPIs have shifted their focus from China to India due to the improving Indian macros, GDP growth, and corporate earnings potential. Global fund managers are recommending dedicated allocations to India within Asia in the second half of 2023.

Shares of Mahindra & Mahindra (M&M) rose 3% after the company reported a 15% YoY increase in overall auto sales for June 2023. The utility vehicles segment saw domestic sales of 32,585 vehicles and overall sales of 33,986 vehicles, including exports. However, sales of SUVs were affected by disruptions in engine-related parts and constraints in the supply of specific parts. M&M's domestic sales of small commercial vehicles stood at 19,798 vehicles. The company's farm equipment sector also saw growth, with domestic tractor sales up 9% YoY.

Several mid-cap stocks on the S&P BSE MidCap index reached new 52-week highs, attracting significant investor attention. Some of the notable performers include ABB, Abbott India, Aditya Birla Capital, Ashok Leyland, Cholamandalam Investment & Finance, Cummins India, Exide Industries, Godrej Industries, Hindustan Petroleum, and L&T Finance Holdings. These companies operate in various sectors such as electrification, pharmaceuticals, financial services, automotive, and manufacturing. Please note that the data is sourced from BSE and is current as of 12:45 pm.

MACD or Moving average convergence divergence is a momentum indicator used in technical analysis. The metric shows the relationship between two moving averages of prices. For calculating MACD, 26-day EMA is subtracted from 12-day EMA. Also, a 9-day EMA of the MACD called the signal line, is plotted on the top of the MACD, which provides the likely trading strategy in a stock i.e. a buy or a sell.

HDFC Bank's shares reached a record high after completing its merger with parent company HDFC, making it one of the world's top 10 banks by market capitalization. The $40 billion merger closed on June 30 and allows HDFC Bank to underwrite larger loans, including those for infrastructure. Since the deal was announced, HDFC Bank's shares have risen about 14.5%, outperforming the benchmark Nifty 50 index. The combined entity has a market capitalization of around $157 billion, surpassing major global lenders such as Morgan Stanley and HSBC Holdings. Morgan Stanley considers HDFC Bank's valuation attractive and expects accelerated loan growth.

BSE Ltd will hold a board meeting on July 6 to discuss and approve a proposal for a share buyback, which involves the company repurchasing its own shares. Share buybacks are considered a tax-efficient way to distribute cash to investors and can increase the value of the stock by reducing the number of shares available. Following the announcement, BSE's stock rose over 5%. The company also made changes to its executive team, appointing a new Chief Regulatory Officer, Chief Risk Officer, and Chief Information Officer. BSE is known as the world's fastest stock exchange. In the March quarter, the company reported a revenue of Rs 227 crore and a profit of Rs 88 crore.

Market sentiment derived from options can be assessed using the Put-Call Ratio (PCR). There are two types of PCR: volume-based and open interest-based. The volume-based PCR provides short-term analysis, while the open interest-based PCR gives longer-term insights. Traders use the PCR as a contrarian indicator, with a ratio above 1 suggesting bearish sentiment and a ratio below 1 suggesting bullish sentiment. The Option Chain is another tool that traders use to gauge market sentiment by analyzing factors such as open interest, volume, bid-ask spread, and implied volatility. The Max Pain theory suggests that the price of the underlying asset tends to settle near the option strike price where option writers minimize their financial gain.

Japan's Nikkei share average reached a 33-year high, driven by machinery makers and a positive quarterly survey from the central bank indicating a recovery in corporate activities. The index closed at 33,753.33, its highest since March 1990. The broader Topix also rose by 1.41%. Factors contributing to the market's growth include a strong US stock market, a slowdown in inflation, and positive sentiment from the Bank of Japan's survey. Machinery makers and chip-related shares were among the top performers, while department store operators saw a decline in stock value.

Liquor is one of the most taxed businesses in the country. A bottle of a particular brand which cost Rs 400 in one state may cost as much as Rs 1200 in another. State governments don't want to lose their power to tax liquor business. Another big factor in this business is the establishment of the brand. History is filled with examples, where companies have gone down because they invested too much in brands that did not do well, however they still survived for another day to launch a brand.

Morgan Stanley has resumed its overweight rating on HDFC Bank and set a target price of Rs 2,110. The brokerage firm expects loan growth and EPS growth to be around 17-18% YoY after FY24. They believe that the stock is available at an attractive valuation and trades at a discount to its historical mean. The analysts also highlight key drivers for the stock, including strong trailing investments, sustained deposit market share gains, steady margin trends, strong asset quality, and operating leverage. They expect re-rating over the next year as profitability and loan growth improve.

Tube Investments, an auto component company, has seen a 13% increase in its stock price in a month. Experts suggest that the stock could reach the level of Rs 3,700 due to a breakout from a cup pattern on the weekly charts. Short-term traders are advised to buy the stock now or on marginal declines. The stock is currently trading above the neckline of the cup pattern and is supported by various moving averages. The Relative Strength Index (RSI) and MACD indicators are also positive.

Shares of Suzlon Energy surged 10% to Rs 17, extending its winning streak for the sixth consecutive session. In the past six sessions, the stock has gained 24%, and it has risen 47% in the last month and over 175% in the past year. ICICI Securities expects Suzlon Energy to benefit from favorable industry factors and anticipates a significant increase in earnings from FY24 onward. The brokerage firm has initiated a buy rating on the stock with a target price of Rs 22, reflecting a 32% upside potential.

As broader market indices like sensex and nifty continue to form new highs. Some stocks have witnessed consistent improvement in their scores. The selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.

Shares of Mazagon Dock Shipbuilders surged over 7% and hit a 52-week high after the company won a contract worth Rs 2,724 crore from the Indian Navy. The stock has seen a tremendous rally, delivering returns of 435% in the past year. With a market capitalization of over Rs 25,000 crore, Mazagon Dock has become the first shipbuilding company to achieve this milestone. Despite trading in an overbought zone, the stock has been performing well and is above its 50-day and 200-day moving averages.

The market capitalization of BSE-listed firms reached a record high of Rs 297.94 lakh crore as the benchmark Sensex crossed the 65,000 mark for the first time ever. The BSE benchmark has been rallying for the fourth straight trading session. The market capitalization of BSE-listed companies jumped to Rs 2,97,94,780.47 crore. HDFC, HDFC Bank, UltraTech Cement, Tata Steel, Bajaj Finance, ICICI Bank, and State Bank of India were among the major gainers. Foreign Portfolio Investors (FPIs) bought equities worth Rs 6,397.13 crore on Friday. GST collections crossed Rs 1.60 lakh crore mark in June.

Indian equities are expected to continue their double-digit gains in the current quarter due to favorable conditions compared to other emerging markets. The Nifty 50 index has historically performed well in the July-September period, with high single-digit to low double-digit returns. Strong foreign portfolio investor (FPI) inflows, supported by strong corporate earnings growth and favorable macroeconomic conditions, have driven the recent market rally. FPIs have shifted their focus from China to India due to the improving Indian macros, GDP growth, and corporate earnings potential. Global fund managers are recommending dedicated allocations to India within Asia in the second half of 2023.

From the Sensex pack, UltraTech Cement and M&M were the top gainers, rising over 2% each. HDFC, HDFC Bank, Tata Motors, SBI, Wipro and Tata Steel also opened higher. On the flip side, Power Grid, Asian Paints, Axis Bank, Maruti, Tech Mahindra, and Sun Pharma opened in the red.