Asian shares faltered on Thursday after Wall Street took a late spill, while investors stuck to bets for sizable cuts in U.S. interest rates this year even if the kick off might now be a little later than first hoped.

Stocks that were in focus included names like L&T, which fell 4.22%, PB Fintech, which jumped 10.2%, and Voltas, whose shares increased 7.09% on Wednesday.

U.S. stocks tumbled on the last trading day in January after the Federal Reserve held interest rates steady while dashing hopes for interest rate cut as soon as March.

Brokers and analysts have turned bearish on the company with one report saying the central bank's decision would 'end the operations of Paytm Payments Bank'.

The Budget Day is highly anticipated as it forecasts the economic outlook of the Nation and its impact on the equity markets. The benchmark and Nifty indices have seen significant gains, indicating a bullish market. The Angel One Research team recommends buying stocks like MTNL, Petronet LNG, Shree Digvijay Cement Co, and Shriram Finance in the short to medium term.

“The RSI oscillator has again given a positive crossover implying a positive momentum. Traders can buy for a target of Rs 344-362 in the next 3-4 weeks,” Ruchit Jain, Lead Research, 5paisa.com, said.

The revenues for the quarter grew nearly 10% while the net profit rose 16.5%. Both the domestic and US markets reported double-digit growth in revenues. The operating margin (Ebitda margin) rose 140 bps to 28.1%. The company has been charting a strong growth trajectory in recent quarters leading to the stock gaining almost 40% in the past one year.

​​As of Dec 31, MF schemes held 3.15 crore shares compared to 1.78 crore in Sept 2023, according to Rupeevest. Schemes from Mirae Asset MF, Quant MF, and Nippon India MF are amongst the fund houses that added shares of Paytm in Dec.

The value of payments done via UPI in December was over ₹18.2 lakh crore, up from ₹12.8 lakh crore a year ago, according to the data from the National Payments Corporation of India.

Godrej Consumer's consolidated net profit rose 6% year-on-year to Rs 581 crore in the December quarter. Revenue from operations during the third quarter increased 2% year-on-year to Rs 3,660 crore.

IPO exits by private equity (PE) firms led to the aggregate tally decline. It also meant that 'volatile portfolio flows' were higher than 'durable FDI' flows during the period.

In the past 10 years in February, foreign investors have been buyers on six occasions and sellers on four. In the past two years, February has seen outflows.

In the first week of February, clients of these brokers must pay as much as 100% upfront margin for all new positions within the margin trading facility (MTF) in the cash segment in an attempt to discourage traders from taking excessive risks in the event of sharp swings.

The decision, driven by a few considerations, was communicated by the Securities & Exchange Board of India (SEBI) in a January 24 email to the fund custodians - banks and institutions who keep custody of securities and act as bookkeepers of the FPIs - three persons aware of the matter told ET.

The NTPC stock, also a part of the S&P BSE Sensex index, rose from Rs 236 on October 27, 2023, to Rs 324 on January 29, 2024. This translates into an upside of 37% in just three months. The momentum pushed the stock to a fresh record high of Rs 325 on January 29, 2024. It rose over 4% in a week after remaining rangebound last month. The stock has been making higher-top and higher-bottom structures in the last 6 out of 7 months on the monthly charts. Dips, if any, were largely bought into, which indicates that it is in an uptrend.

The US central bank confirmed in a statement that it was holding its benchmark lending rate steady between 5.25 percent and 5.50 percent, and said it is unlikely to start cutting rates without "greater confidence" that inflation is moving "sustainably" towards its long-term two percent target.

The Google-parent slumped 6.1%, pushing the S&P 500 communication services sector 3.0% lower, after reporting holiday-season advertising sales below expectations and projecting higher AI-related spending.

Ahead of the US monetary policy decision, Indian equity indices advanced on Wednesday, led by the financial, auto, pharma, IT, and energy stocks. The S&P BSE Sensex closed 0.86% higher at 71,572, while the NSE Nifty 50 index closed above the 21,700 level."The short-term trend of Nifty remains up and the market is waiting for the triggers from the key economic event of Union Budget 2024, which is scheduled on February 1. High volatility is likely on Thursday and one may expect chances of a decisive upside breakout of 21,800 levels soon," said Nagaraj Shetti, HDFC Securities.Here are 6 stock recommendations for Thursday:

The Nasdaq Composite dropped 185.71 points, or 1.20%, to 15,324.19 at the opening bell, while the Dow Jones Industrial Average fell 40.53 points, or 0.11%, at the open to 38,426.78.

​Dabur India promoter Burman family on Wednesday bought a 3.6 per cent stake in diversified financial services group Religare Enterprises for Rs 277 crore through open market transactions.

​Markets regulator Sebi has restrained an individual from the securities markets for a period of two years for providing unregistered portfolio management services.

​Three entities paid markets regulator Sebi a fee of Rs 22.75 lakh to settle a case pertaining to breach of investment limit by Oneil Quant Fund that led to flouting of Alternative Investment Fund (AIF) rule.

​Tech giants on Tuesday talked up how customers are lapping up their generative AI-powered products, but mounting costs of developing the cutting-edge features irked investors hoping for a big boost to sales from the new technology.

As we approach the Interim Budget 2024, the crypto industry anticipates with earnestness that the government will address the prevalent challenges, signalling a critical juncture for the sector.

During the first nine months of FY24, the company achieved the highest-ever customer collections, totaling Rs 2,515 crore, reflecting an enhancement in operating efficiencies. Cash flow from operations for 9M FY24 stood at Rs 2,826 crore, reflecting a notable increase of 35% for the same period in 9M FY23. Additionally, the operating surplus for 9M FY24 surged to Rs 965 crore, marking a substantial 101% rise from the same period in FY23. The company’s current cash balance stands at Rs 822 crore.

Short covering refers to the buying of shares 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:

India’s largest infrastructure company pruned the FY24 guidance for operating margin before depreciation and amortization (EBITDA margin) by 50 basis points to 8.25%-8.5% from 8.5%-9%. The management had earlier guided for a gradual improvement in the margin, mostly in the second half.

Stocks that were in focus on Wednesday include names like Godfrey Phillips which was up nearly 10% to hit a fresh record high, PB Fintech which rose 10% to hit a fresh 52-week high and UCO Bank which closed with gains of over 6% on Wednesday

Smallcaps and midcaps have been doing well since last year and are showing no signs of a reversal so far in 2024 too. To dig a little deeper, ETMarkets ran a screener to find out which smallcap stocks have seen consistent buying from both mutual funds as well as FIIs. We found 9 stocks that were exceptional in the last 4 quarters of calendar year 2023. In fact, 2 of these stocks have turned multi-baggers as well!

According to the new regulation, FPIs holding over 50% of their Indian equity AUM in a single Indian corporate group and those having more than Rs 25,000 crore of equity assets under management in Indian stocks are required to provide granular details of all entities with any ownership, economic interest, or control rights in the fund or the entity to Sebi.

The local currency logged a 0.2% increase in January, marking its strongest monthly rise since June 2023. The rupee's Asian peers were down between 0.8% and 3% in the month.

The trend may continue to be volatile on Thursday, especially as the Interim Budget will be delivered. Support on the lower end is situated at 21,500, while a decisive move above 21,750 might trigger a rally towards 22,100 and beyond.

From a Nifty trader's perspective, while the higher timeframe charts continue to look attractive, the cycle of higher-highs – higher-lows is certainly visible on the daily time frame with in-between time-wise correction phases, analysts maintained.

Earnings before interest, taxes, depreciation and amortization or EBITDA surged nearly 17% YoY to Rs 247 crore, and operating margins improved 120 basis points to 15.9%.

Closing Bell: Sensex ends 612 points higher ahead of Fed outcome; Nifty above 21,700; Sun Pharma, TaMo gain 3% each

As 2024 is an election year, Finance Minister Nirmala Sitharaman's budget on February 1 will be an interim one or a 'vote of account'. Historically, on Budget day, the markets are choppy, but the momentum picks up in the short term only to eventually consolidate after 30 days.

The January auto sales figures will start to trickle in from February 1 onwards. Here's a look at what to expect from auto sales numbers. (Source: ET NOW)

Indian shares recovered from a weak start on Wednesday, led by a rise in index heavyweights HDFC Bank and Reliance ahead of the keenly awaited Federal Reserve monetary policy decision. Meanwhile, in today's trade, six BSE PSU stocks hit new 52-week highs. Here's a list:

Kela said that, over the years, the budget's significance has diminished, given the government's continuous policy changes throughout the year. Despite being a vote on account, Kela speculates that this year's budget might be a comprehensive presentation, considering the government's confidence in continuity

Sensex ends over 600 points with Nifty scaling above 21,700-levels as investors anticipate the outcome of the US Fed meeting and tomorrow's Interim Budget. Rally led by bank stocks and Reliance Industries. Broad-based buying seen across auto, realty, and healthcare stocks. Smallcap index outperforms with a 2% rally.

The gains were led by Jupiter Wagons which jumped 5% to the day's high of Rs 404.40 on the NSE. It was followed by Indian Railway Finance Corporation (IRFC) and Rail Vikas Nigam Limited (RVNL) which were up 4% and 3.2%, respectively around 1:20 pm. Others, including Container Corporation of India (CONCOR), RITES, Indian Railway Catering and Tourism Corporation (IRCTC), Texmaco Rail & Engineering, Titagarh Rail Systems jumped up to 3%.

The NTPC's proposal for NGEL listing was approved by the Department of Investment and Public Asset Management (DIPAM), as per the source. The company is planning to utilise the funds towards energy transition and setting up green energy projects, including solar and green hydrogen.

On a day when the Nifty is trading with strong gains, several investors would be looking at their portfolio and feeling happy about the returns they have made in the smallcap part of their portfolio. This is exactly the opposite of what he or she might have felt just last week when a sharp correction took place in all segments of the markets, especially mid and smallcap stocks. Let the market be volatile, don't make volatile decisions. Now an investor who has taken exposure to small caps should first de-link both these correlations with what is happening to the Nifty. He or she should take a look at individual stocks and then decide to either hold or sell the individual smallcap stocks as in this space, while collective winds do impact these stocks at the end of the day long-term performance is determined by the fundamentals of each company.

Nova Agritech, an agri-input manufacturer, witnessed a solid listing for its IPO. The company's strong market position, diverse product portfolio, and effective marketing strategy contributed to its growth potential. Nova Agritech's consistent financial performance, impressive return on equity (ROE) of 32.1%, and robust PAT margins at 9.7% in FY23 further bolstered investor sentiment. The proceeds from the IPO will be used for investment in its subsidiary, funding capex, working capital requirements, and investment in Nova Agri Sciences.

Sensex and Nifty surged today, led by gains in heavyweight bank stocks like HDFC Bank and LIC. The rally comes ahead of the US Fed meeting and the Interim Budget. The Budget session is expected to be interim, with lower expectations due to the upcoming Lok Sabha elections. The market will focus on any proposals regarding taxation of investments in the capital market. Meanwhile, the Fed is expected to maintain its benchmark interest rate, with questions remaining on the timeline and quantum of rate cuts.

After a long phase of almost two decades, during Covid there was a sudden phase of expansion in price earning multiples which IT stocks were getting. Now as nothing is permanent on markets, a phase of mean reversion or readjustment of valuations started after October 21. It has been more than two years that largecap IT stocks have been going through this and after a gap of a long time, they are showing some early indications at worst might be over. But because there has been a major technological shift in the last two years, it is a trade that only investors with patience should look at taking. 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.

Policybazaar share price: PB Fintech's first-ever profit catapulted its stock to a fresh 52-week high. Target price upgrades served as the icing on the cake. BofA raised the target, retaining its neutral rating. Kotak Institutional Equities maintained a buy view relying on broad-based growth. Nuvama raised the price target but retained the 'reduce' rating on rich valuations. PB Fintech reported a consolidated net profit of Rs 38 crore, against a loss a year ago. Revenue increased 43% YoY to Rs 871 crore.

Just a day after the biggest wealth creator from the NBFC space witnessed a sharp cut, it might appear that NBFC is not a right sector to look at. But go back to history and one would see that the time to look at a sector is when something which is perceived as negative. In the last three months, whether it is the consumer lending or housing finance segment, the RBI has been tightening the laws and regulations for provisioning. The question is why RBI is doing it and whether it will give a boost to a higher and cleaner growth. By cleaner growth, a growth which is less volatile and less accident prone. Given the fact the NBFC sector has a history of meeting with accidents and creating problems for a lot of sectors. The answer tilts toward yes, this regulatory tightening is good and in long term value accretive.

The drug maker on Tuesday reported an 11% year-on-year (YoY) jump in net profit at Rs 1,379 crore for the quarter ended December 31, 2023, as against Rs 1,247 crore a year ago. The company said the net profit was led by new products and base business market share gain in the US, and also new launches and strong volumes in Europe. The Hyderabad-based firm's revenue rose 7% at Rs 7,215 crore as against Rs 6,770 crore crore in the year-ago period.