In the Nifty500 pack, eight stocks are witnessing Golden Crossovers, according to stockedge.com's technical scan data. Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside. These stocks' 50-day simple moving averages (SMA) crossed their 200-day SMAs on June 26.

India's consumer technology stocks, including One 97 Communications and Zomato, have outperformed their Chinese counterparts this year, rising more than 20% as of September 2023. The strong performance was supported by the firms' focus on profitability and India's economic growth potential. Meanwhile, China's tech giants have seen a lacklustre performance as share prices remain below January levels, due to geopolitical and regulatory risks. With India's growth potential and favourable ties with the West, investors are turning to Indian companies despite their smaller market cap and revenue compared with China's tech firms.

On Monday, the markets traded within a limited range, with the Nifty opening in the positive territory and hitting the day’s high soon. However, the headline index could not hold on, ending the session with a small gain of little over one-tenth of a percent.

Indian equity benchmarks showed little movement on Monday as global markets weakened. Shree Cement's stock fell, Policybazaar rose while Apar Industries saw a sudden increase in share value. Investors are recommended to sell Shree Cement's shares, buy on dips Policybazaar's shares, and buy on dips Apar Industries' shares as they continue their prior rising trend. Technical indicators are positively poised on the medium-term timeframe chart, and the key support levels are estimated for the respective stocks.

The stock of this company has gained a substantial upside of 38% over the last three months. Recently, the price failed in its attempt to close above the June peak. The candle formed at the top resembles a Spinning Top, which suggests a lack of confidence in the ongoing trend. The lack of participation is visible in the volume.

Asian stock markets were hesitant on Tuesday as investors awaited signals on the interest rate outlook. They were also concerned about potential risks to China and geopolitical turmoil following an aborted mutiny in Russia. MSCI's Asia Pacific stocks minus Japan index gained 0.08%, while Japan's benchmark Nikkei average fell by as much as 1%. S&P Global has reduced China's economic growth forecast to 5.2% from 5.5% for 2023, representing the first time a major credit ratings agency has cut China's forecast this year, further maligning China's uneven recovery from the coronavirus pandemic.

US stocks closed lower on Monday as investors remained cautious due to the uncertainty surrounding the future of Russia after the weekend mutiny. Meta Platforms, Alphabet, and Tesla were among the biggest drags on the main indexes, with growth stocks experiencing a sell-off after a recent rally. Additionally, the start of the second quarter's final week prompted profit-taking in growth stocks. The Dow Jones Industrial Average fell by 12.72 points, the S&P 500 lost 19.51 points, and the Nasdaq Composite dropped 156.74 points. The energy sector was the biggest industry index gainer, rallying by 2.2% as oil prices rose.

We see the next 12 months as a transformational period for this stock as various projects are lined up for commissioning. Its capacity would increase by 65% in two phases. We upgrade the stock to buy with a target of Rs 740,” Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities, said.

Swaminathan Janakiraman, a nominee director representing State Bank of India (SBI), has resigned as the Director of the company.

Bids for the debt-laden textile company Sumeet Industries have been weaker than lenders' expectations as high input costs and weak demand in the industry have kept large bidders away. Banks received bids ranging from ₹90 crore to ₹150 crore indicating a recovery of just 22%, much lower than the ₹250 crore or 40% recovery expected.

State-run Bank of India (BoI) is looking to sell the Rs 670-crore debt of KSK Mahanadi Power and has set a reserve price of Rs 301 crore, which will result in a recovery of 45% on the debt. The lender has set the reserve price on an all-cash basis and will hold open bidding Wednesday. Thereafter, the highest bid will form the base price for the Swiss Auction, which will be held later. BoI's recovery expectation is higher than those for the State Bank of India and Union Bank of India.

IRFC raised ₹1,940 crore through bonds maturing in October 2028 at a rate of 7.45% and ₹2,000 crore through bonds maturing in October 2026 at a rate of 7.41%, sources aware of the development said. The bonds are rated AAA by rating agencies Crisil, ICRA and Care.

Under the format for compliance report on governance, Sebi said infrastructure investment trusts (InvITs) and real estate infrastructure trusts (REITs) will have to disclose the name of the investment managers, the composition of the board of directors of the investment managers as well as the composition of committees, meetings of the board of directors, along with meetings of committees, on a quarterly basis.

ICICI Bank said in an exchange filing that its board on June 29 will consider a proposal for the delisting of equity shares of ICICI Securities pursuant to a scheme of arrangement with the Bank under a special provision of the SEBI Regulations, 2021.

Markowitz was best known as the father of modern portfolio theory, which he introduced in 1952 in an article published by the Journal of Finance. He broke with traditional investment analysis by focusing on combinations of assets, rather than individual securities.

Janakiraman will look after the departments of consumer education and protection, supervision, financial inclusion and development, inspection, premises, and Rajbhasha. Deputy governor Michael Patra will handle the departments of monetary policy, financial markets regulation, financial markets operations, deposit and credit guarantee corporation, and economic and policy research, amongst others.

Barely months before unveiling the CBDC pilot in both retail and wholesale segments, the central bank allowed rupee settlement for international trade as a step towards internationalisation of the rupee. Banks from 18 countries have opened rupee vostro accounts since July last year, helping their importers settle payments in the rupee.

Analysts said gains in the stock market have been restricted in the past when 70% of the stocks on the NSE 500 index trade above the 200-DMA.

Jindal Steel & Power is set for transformation through multiple expansion projects worth ~Rs240 billion, commencing in 2QFY24E. Long-term investors are advised to purchase stock for a target of Rs 740, a 30% upside from Rs 568. The two-phase increase in capacity and higher backward and forward integration proposed over FY2024-26E is forecasted to structurally improve the company's margin profile

Adani Group has denied knowledge of the US Securities and Exchange Commission subpoenaing its investors over representations made by the company to them following allegations by Hindenburg Research that offshore companies were used to manipulate share prices. The group added that its disclosures were public record, and that regulators frequently sought access to such material

Adani Group has denied knowledge of the US Securities and Exchange Commission subpoenaing its investors over representations made by the company to them following allegations by Hindenburg Research that offshore companies were used to manipulate share prices. The group added that its disclosures were public record, and that regulators frequently sought access to such material

US technology and megacap stocks led declines on Monday, resulting in U.S. stocks edging lower as investors worry about the impact of further interest rate hikes on the economy. Growth stocks, particularly Meta Platforms, Alphabet, and Tesla fell between 2.7% and 4.9%. In contrast, the S&P 500 energy sector gained 1.8% as oil prices rose. Economic data, including a key inflation gauge, durable goods, and the University of Michigan's consumer sentiment index, are expected this week. Most policymakers see at least two more quarter-point rate increases by the end of this year.

Small Cap World Fund sold 7.7 lakh shares, or almost 1%, at an average price of Rs 1,437, making a gain of Rs 110 crore. The venture capital firm held approximately 8% stake in the company at the end of the March quarter. Aavas Financiers, predominantly a publicly owned company with 60.8% stake, offers housing loans to customers in semi-urban and rural areas.

Passive funds, designed to track the Nifty indices, contribute to the success of the passive funds sector, which has now achieved a total of Rs 7 lakh crore AUM, as of May. Growth in this sector has come from the failure of large-cap active funds to provide big returns.

Benchmark equity indices Sensex and Nifty closed on a mixed note in a volatile trade on Monday amid weak trends in the global markets. While auto, IT and pharma shares advanced in a restricted trade, selling in index heavyweight Reliance Industries, HDFC twins and Tata Consultancy Services capped the gains.In a lacklustre trading, the 30-share BSE Sensex dipped 9.37 points to settle at 62,970, logging its third day of decline. Nifty managed to end in the green at 18,691. Meanwhile, broader markets emerged strong and posted recovery.From the Nifty pack, top gainers included Cipla, Adani Enterprises, Hero Motocorp, Tata Consumer Products and Divis Labs.“The headline index Nifty has remained sideways during the session. On the lower end, it found support at the 21EMA on the daily timeframe. The trend remains complex as long as it stays within the bands of 18,500-18,800. A decisive breakout on either side might trigger a directional move. Till then we expect a market where the dips would be bought and rises would be sold into,” said Rupak De, Senior Technical analyst at LKP Securities.Here are the stock recommendations for Tuesday:

The Reserve Bank of India (RBI) has imposed penalties on several entities for failing to comply with regulatory norms. Standard Chartered Bank-India was fined Rs 30 lakh for contravening certain provisions of the RBI's KYC Directions. Equifax Credit Information Services, Experian Credit Information Company of India, TransUnion CIBIL, and CRIF High Mark Credit Information Services were also fined for non-compliance with Credit Information Companies Act regulations. Other banks and co-operative lenders were also penalised for similar reasons. RBI noted that the penalties were not intended to judge the validity of any transaction or agreement involving the entities.

The private sector lender said that shareholders' nod would be sought in the annual general meeting for the capital raise plan.

The meeting came a day after the country passed a heavily adjusted annual budget in hopes of securing a last gasp bailout from an International Monetary Fund programme that expires on June 30.

The meeting came a day after the country passed a revised annual budget in hopes of securing a last gasp bailout from an International Monetary Fund programme that expires on June 30.

Investors fear the Federal Reserve's aggressive monetary tightening will hurt the U.S. economy

On Monday, Indian markets closed mixed after early gains. The S&P BSE Sensex was flat with a negative direction, while the Nifty50 index rose marginally. Notable stocks included ICICI Securities, which rose by 10%, as well as Natco Pharma, up nearly 3%, and SJVN, up 6.5% to reach a fresh 52-week high

India's Securities and Exchange Board has introduced disclosure formats for compliance reports on governance and annual secretarial for REITs and InvITs for the financial year 2023-24 onwards. Investment managers of InvITs and REITs will have to disclose essential details including the name of investment managers, the board of directors' composition, meeting details of committees and the board of directors on a quarterly basis. Investment managers of these investment vehicles will have to submit the annual secretarial compliance report in a new format to the stock exchanges within 60 days from the end of each fiscal year.

India's Securities and Exchange Board introduced a supplementary process for trading in the secondary market based on blocked funds in an investor's bank account to block unauthorised trading using investor's money. Similar to the Application Supported by Blocked Amount-like facility available for the primary market, the new facility will be provided by integrating Reserve Bank of India-approved Unified Payments Interface mandate service of a single-block-and-multiple-debits with the secondary market trading and settlement process called UPI block facility. The new facility will become effective by January 1, 2024, and will eliminate the custody risk of client collateral and reduce capital requirements for members.

Despite a lacklustre trade that caused minor losses, some large-cap stocks drove the performance of S&P BSE Sensex resulting in a notable market advancement. ICICI Bank, Maruti, Infosys, Tata Motors, and Titan emerged as the top five gainers for June 26 with significant contributions to the market's upward movement. Investors can analyze their financial performance, market share, growth potential, and other relevant factors to make informed investment decisions. However, thorough research, analyzing financials, and staying updated on market trends are essential before investing.

The BSE Bankex Index had a mix of advancements and declines among its constituent bank stocks. ICICI Bank, SBI, IndusInd Bank, Axis Bank, and AU Small Finance Bank were the leading contributors to the index's modest gains, while Federal Bank, Canara Bank, Bank of Baroda, Kotak Mahindra Bank, and HDFC Bank led to its decline. Investors are advised to thoroughly research the financials and stay up-to-date on market trends before making any investment decisions.

India's VIX rose slightly but stayed at lower levels, resulting in a choppy market with little movement. Options data indicates a narrower trading range with a shift between zones of 18,500 to 19,000. Analysts have said that until there is a decisive breakout on either 18,500-18,800 band, trends will remain complex. A minor upside bounce can be expected, but weakness under the crucial support of 18,650 levels will bring the next round of weakness in the market. Immediate resistance is at 18,760 levels.

The S&P BSE Sensex witnessed a minor loss of 0.01% on Monday, primarily caused by the underperformance of Reliance Industries, HDFC Bank, TCS, Larsen & Toubro, and Bharti Airtel. These companies contributed significantly to the decline in the market. Investors may delve into their financial performance

Several BSE Smallcap stocks reached their 52-week high and generated market excitement. AstraZeneca Pharma, Apar Industries, Force Motors, Angel One, Venus Pipes & Tubes, Surya Roshni, Talbros Automotive, and Landmark Cars were among eight prominent stocks that led this bullish trend.

IDFC First Bank and Apollo Tyres are among the Nifty Midcap100 stocks which have demonstrated a strong recovery from their 52-week lows, attracting investor attention. IDFC First Bank saw its price increase by 157.36% from its 52-week low of Rs 29.9, while Apollo Tyres witnessed an increase of 123.18% from its 52-week low of Rs 179.9

Several stocks in the Nifty Smallcap 100 index have shown an impressive recovery from their 52-week lows, with standout performers including Mazagon Dock Shipbuilders and Jindal Stainless. Mazagon Dock Shipbuilders witnessed a remarkable increase of 429.49%, while Jindal Stainless marked an increase of 233.11%. Other notable recoveries include KEI Industries, Raymond, Cyient, Tanla Platforms, KPIT Technologies, and RBL Bank, demonstrating effective management strategies, resilience, and capacity to navigate market challenges and capitalize on growth opportunities. These recoveries highlight the potential for growth and market resilience within the Nifty Smallcap 100 index.

Passive funds have witnessed a consistent rise in popularity, with total assets under management (AUM) of all exchange-traded funds and index funds that track the Nifty 50 indices crossing the Rs 7 lakh crore mark in May-end. As of May 31, 2023, there were 251 passive funds tracking 101 unique Nifty indices. Nifty indices-linked passive funds account for around 72% of total equity and debt passive funds AUM and 75% of the total number of passive funds in India. The AUM of passive funds surged to Rs 7.17 lakh crore as of May 31, 2023.

Closing Bell: Sensex ends flat after rangebound trade; Nifty below 18,700; Sun Pharma soars 9%, Apollo Tyres drops 3%.

Private equity dealmaking has declined to four-year lows as firms contend with high interest rates and recession scares. According to Dealogic, private equity deal volumes have fallen 63% from last year to $293.5bn. Private equity investors are increasingly shunning businesses with unpredictable cash flows and pursuing fewer deals, amid rising borrowing costs and the interminable trade conflict. The difficult market for initial public offerings has also contributed to the slowdown, making it harder for private equity firms to exit investments. However, some believe that the industry could soon rebound thanks to a backlog of stored-up funding.

The legacy of Michael Milken and his junk bonds continues to persist with today's US junk loan market standing at $1.4tn. The HYB market is currently experiencing a high default rate at 6%, coinciding with a surge of the Indian equity market with over 30% of listed companies experiencing gains of over 30% in just three months. Central bank's synchronised interest rate hikes can lead to the uncovering of hidden excesses, just as it did when interest rates reached 5% in 2005 before the Global Financial Crisis emerged. As investors, it is essential to remain aware of potential risks during market cycles.

ICICI Securities shares closed over 10% higher as Board of Directors of ICICI Bank mulls delisting of its institutional and retail broking arm.

The Insurance Regulatory Authority of India has given insurers permission to launch group and individual unit-linked life and health insurance products without prior approval. While general insurance has been flourishing in India, the growth of life insurance moderated in April and May 2023 after a surge in March, just prior to regulatory changes. SBI Life is targeting a 20% CAGR in APE over FY23-2025; ICICI Lombard is expecting growth in the motor segment, health segment profitability improvements and benefits from the Bharti AXA merger to help improve the combined ratio and ROE.

The current market offers investment opportunities among Nifty 500 companies that are trading at a discount of 30% or more from their 52-week highs. The top 10 companies include Indian Overseas Bank, JK Paper Ltd., Jindal Worldwide Ltd., Laurus Labs Ltd., Laxmi Organic Industries Ltd., MMTC Ltd., Mahindra Logistics Ltd., Meghmani Finechem Ltd., PVR INOX Ltd., and Page Industries Ltd. Investors need to analyze these companies' financial performance, industry trends, and growth prospects before deciding to invest. It is advisable to carry out thorough research and seek professional advice to minimize risks and maximize returns.

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 a period of 14 days to compute RSI. It is a bullish signal as the RSI has crossed above 50 from below.

RattanIndia Power’s shares jumped 19% on Monday as the company announced that it has refinanced its senior debt with a Rs 1,114 crore loan led by Kotak Mahindra Bank. The power generation company has fully repaid the balance of senior debt to Goldman Sachs and Varde Partners. The trading of the company's shares involved large volumes as over 15.13 crore shares traded on the NSE with an intraday high of Rs 5.60. The company has private power generation capacity of 2,700 MW installed power plants.

These four metal stocks give bearish signals, indicating that may be time to sell the counters as the MACD drops below the signal line. Take a look: (Source: StockEdge)