U.S. stocks advanced on Monday as market participants looked ahead to this week's slew of megacap earnings, economic data and the Federal Reserve's monetary policy meeting.

A strong economic outlook is helping U.S. stocks weather a rise in Treasury yields, though that could change if factors such as tighter monetary policy drive yields higher or if they move up too fast, Goldman Sachs strategists said.

Here's what Avdhut Bagkar, Derivatives & Technical Analyst at StoxBox, recommends investors should do with these stocks when the market resumes trading today.

“From the last almost one year Indus Tower stock has been consolidating in a broader range of 135-210 and sustaining below its 200-Days exponential moving average on weekly charts. Traders can buy for a target of Rs 280,” Shitij Gandhi, Senior Technical Analyst, SMC Global Securities, said.

Buoyant global market conditions further contributed to the rally on D-Street, with the odds shortening on an early resumption to the rate easing cycle by the US Federal Reserve.

The company made a Rs 3540 crore provision on its AIF investments registering a loss of Rs 2378 crore in December 2023 from a profit of Rs 3545 crore in the previous year despite healthy growth in its loan book.

Leading PSU NTPC Ltd reported 7% year-on-year growth in its consolidated net profit at Rs 5,209 crore in the quarter ended December 2023.

Among them, about 20 stocks, including Zee Entertainment, FSN E-commerce, Restaurant Brand, GMM Pfaudler, Karnataka Bank, Prince Pipes and others, could give minimum returns of 10% over the next 12 months, according to Bloomberg consensus estimates.

With a sharp rally in the Reliance stock, the net worth of Mukesh Ambani, the chairman of Reliance Industries, jumped $6.7 billion on Monday to $111.1 billion, according to the Forbes Real-Time Billionaire list.

The telecom stock rose from Rs 185 on 26th December 2023 to Rs 225 on 25 January 2024, which translates into an upside of over 21% in a month. The momentum pushed the stock to a fresh 52-week high of Rs 236 on 24th January 2024. It rose over 4% in a week and nearly 30% in the last three months.

The benchmark S&P 500, which rose over 16% in the last two months of 2023, has notched a series of all-time closing highs this month as well as confirmed a bull market on Jan. 19. Meanwhile, BlackRock raised its overall U.S. stocks view to "overweight" from "neutral."

The chief of the Securities and Exchange Board of India(Sebi) on Monday said there are many divergent and diverse views right now, even among the broking community. Last year in September, the National Stock Exchange had submitted a proposal to Sebi to allow an evening session, between 6 pm and 9pm, when market participants can continue trading futures and options contracts after the regular session, between 9.15 am and 3.30 pm, is over.

The FPIs’ assets under management (AUM) in the power sector rose by 39% to $31 billion in the past three months compared with 16% growth in their total equity AUM. Power stocks received an FPI inflow of $242 million over the past month, accounting for 8% of the total inflow.

Securities market regulator Sebi on Monday cautioned against a round-the-clock trading window from an infrastructure resilience perspective and highlighted that it has neither heard officially from anyone nor formed any opinion on the issue so far

State-owned Punjab National Bank (PNB) on Monday said the board of the bank has given green signal for raising Rs 7,500 crore through Qualified Institutions Placement (QIP)/Follow-on Public Offer (FPO) during 2024-25.

The recent 7% rally in Reliance Industries (RIL) shares took place on Monday. Investors were eagerly buying the stocks, which sent the price up around 7% to a new lifetime high of Rs 2,905 on BSE. This surge in price was significant, as during the day, the market capitalisation of India's most valued stock increased by Rs 1.2 lakh crore to Rs 19.6 lakh crore.

Sectorally, buying was seen in energy, oil & gas, utilities, and the public sector while IT and FMCG stocks saw some selling pressure.

The company made a Rs 3540 crore provision on its AIF investments registering a loss of Rs 2378 crore in December 2023 from a profit of Rs 3545 crore in the previous year despite healthy growth in its loan book.

The Dow Jones Industrial Average rose 6.40 points, or 0.02%, at the open to 38,115.83.

Investors' wealth climbed Rs 6 lakh crore on Monday, with the BSE Sensex rallying nearly 2 per cent, driven by heavy buying in Reliance Industries and a rally in Asian markets. The 30-share BSE Sensex jumped 1,240.90 points or 1.76 per cent to settle at 71,941.57. During the day, it soared 1,309.55 points or 1.85 per cent to 72,010.22.

Nifty on Tuesday ended 385 points higher to form a long bull candle on the daily chart, indicating chances of an upside breakout of the hurdle at 21750 in the short term.

Benchmark equity indices Sensex and Nifty rebounded sharply on Monday, surging nearly 2 per cent, on heavy buying in Reliance Industries and a rally in Asian markets. The 30-share BSE Sensex jumped 1,240.90 points or 1.76 per cent to settle at 71,941.57. During the day, it soared 1,309.55 points or 1.85 per cent to 72,010.22. The Nifty climbed 385 points or 1.80 per cent to 21,737.60.

On Saturday, YES Bank reported robust growth in profit for the quarter ended December 2023, with the bottom line surging more than four times year-on-year (YoY) to Rs 231 crore.

The previous best single-day performance was seen during the Covid rally. In 2020, there were four instances when RIL stock had gained at least 10% with the best of 14.65% coming on 25th March 2020. In the last three months, the stock is up over 27% with analysts pinning hopes on the possibility of eventual listing of Reliance Jio and Reliance Retail after Jio Financial was spinned off into a listed entity last year.

In the last two weeks, there has been a clear divergence in the performance of the banking space. While private sector banks were under pressure, the PSU banks have either been able to keep their head above water or even moved upward. The question is it a rotational trade, where the money stays in banking but moves from private sector to public sector banks or this is due to the fact that PSU banks have actually cleaned up their act and they are set for a long term re-rating. This question becomes important because PSU banks have seen a run up in their stock prices, so should one buy at these levels or not is the open question whose answer even the best of the name on the street are looking for and the fact is it is not easy to come.

Tata Tech’s headcount has increased by 8% from FY23-end despite ongoing ramp-down in Vinfast. This indicates that the company has been able to redeploy resources and back-fill Vinfast revenues.

Earlier in December 2023, shares of Azad Engineering debuted on NSE at a premium of 37.4% (Rs 196) at Rs 720 apiece. The stock got listed at Rs 710 on BSE (up 35.5%) as against the issue price of Rs 524.

European equities kick-started the week on a subdued note, after scaling two-year highs in the previous session, as heavy losses in travel stocks partially outweighed strong performances in the energy sector.

Oil stocks jumped up to 8% on Monday led by gains in state-run Oil & Natural Gas Corporation (ONGC) and market heavyweight Reliance Industries (RIL) on fuel supply concerns in the aftermath of a missile attack on a Trafigura-operated fuel tanker in the Red Sea.

D-Street analysts expect 2024 to be an eventful year for Reliance Industries as the past two years of investments move into the monetization phase. "We think investment cycles will be shorter than in the past 2 decades, with limited impact on balance sheet leverage," global brokerage Morgan Stanley said.

Analysts predict that largecap mutual funds will outperform in 2024, reversing the trend of smallcaps overshadowing largecaps in 2023. Indian Large Caps offer growth potential and attractive valuations, with soaring RoE, robust PAT, and impressive Sales figures. Motilal Oswal Mutual Fund has launched the NFO of Motilal Oswal Large Cap Fund, open for subscription till January 31. Largecaps historically have lower drawdowns and faster recovery compared to small and midcap stocks. With improving macro strength and expected inflows from FIIs, now is an opportune moment to invest in largecap stocks, according to experts.

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

Thanks to the domestic and global flows on a positive outlook, India outperformed most Emerging Markets in 2023 with the Nifty gaining about 20 percent. But that has also pushed it to an expensive territory.

Indian shares advanced on Monday, led by a rebound in beaten-down financials and tracking gains in Asian markets. Meanwhile, in today's trade, six Nifty50 stocks hit new 52-week highs. Here's a list:

After opening in the green, Indian benchmark indices Sensex and Nifty extended their gains sharply on the back of buying action in banking counters and firm global market cues. The BSE Sensex rose 1100 points to the 71,800 level, while the Nifty50 crossed the 21,650 mark in Monday's trade.

After a short rest, bulls are back on the street, the rally is being led by some banks and other PSU’s. The only thing which appears to be a sign of caution is that the mid-cap index and market breadth in that segment is not as bullish as it used to be when the nifty would be witnessing a similar kind of an up move. For investors who are looking to increase their exposure to stocks, it would be better to focus on fundamentals and if there is any improvement in them which has made the overall score go up in the last one month then have a look at those stocks. These 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 SBI Cards and Payment Services plunged over 6% to the day's low of Rs 710.50 on the BSE in Monday's trade reacting to the not-so-optimistic view on the company's growth outlook by a clutch of top domestic brokerages. Following SBI Card's December quarter earnings, Motilal Oswal downgraded the stock to 'Neutral' while Nuvama and InCred reiterated their 'Reduce' ratings.

Birlasoft Ltd, part of the IT sector, has rallied more than 50% in 3 months to hit a fresh record high in January 2024. Short-term traders can look to buy the stock now for a target of Rs 888 in the next 3-4 weeks, suggest experts. The IT stock rose from Rs 526 as on 23rd October 2023 to Rs 822 as on 24th January 2024 which translates into an upside of 56% in just 3 months.

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

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

D-Street analysts expect 2024 to be an eventful year for Reliance Industries as the past two years of investments move into the monetization phase. "We think investment cycles will be shorter than in the past 2 decades, with limited impact on balance sheet leverage," global brokerage Morgan Stanley said.

Cantor Fitzgerald initiates coverage on Adani Enterprises with an overweight rating and a target price of Rs 4,368, signaling a 51% upside potential. Adani Enterprises has limited analyst coverage despite being the 10th largest non-financial stock in India. The company has taken actions to reduce liquidity risk, improve governance, and increase transparency. Adani's airports, roads, and new energy businesses are expected to drive growth. The SOTP valuation values the three main businesses at Rs 3,419/share, with shareholders getting the other six businesses for free. Adani's green hydrogen ambitions could further propel shares higher.

Indian headline indices opened in the green on gains in bank stocks and tracking positive cues from global markets. The top gainers were ONGC, Adani Enterprises, SBI Life, HDFC Bank, and Sun Pharmaceuticals. The top losers were Cipla, Dr Reddy's Laboratories, Bajaj Auto, ITC, and Divi's Laboratories. HDFC Bank stock rose nearly 2% after the banking regulator allowed LIC to up its ownership. Most major Asian indices were trading positive after the China regulators took new steps to support the market.

Adani Enterprises Ltd., the flagship company of the Adani Group, can deliver a gain of over 50%, making it central to India's economic ambitions, a report by the US-based broker Cantor Fitzgerald & Co. has said. Adani Enterprises' current valuation is driven by its airports, roads, and new energy segment, with investors receiving six other businesses for free. Despite previous allegations of fraud, Cantor Fitzgerald sees Adani as too big to ignore.

Nifty opened lower and formed its day’s high in the early minutes of the trade. But it closed with a loss.

Adani Group stocks surge, with Adani Power, Adani Energy Solutions, Adani Enterprises, and Adani Green Energy leading the gains. ACC and Ambuja Cements also rise. Adani Power reports a significant increase in net profit for Q3. The company's revenue from operations and EBITDA also show substantial growth. Adani Power's installed capacity stands at 14,250 MW with a plant load factor of 68.6%. The stock has delivered impressive returns over the past six months and two years. Technical indicators suggest a positive trend for Adani Power.

Traders on Zerodha, India's second largest broking platform, faced a technical glitch, leading to intermittent issues with order placement on the Kite app. Zerodha resolved the connectivity problem and expressed regret for the inconvenience caused. Affected traders sought compensation for their losses and expressed their grievances on social media. This incident follows a similar technical glitch experienced by users of Groww, the largest broker in India, last week.

IRB Infrastructure Developers is the sponsor of IRB Infrastructure Trust. IRB was the EPC contractor for YATL and continues to be the project manager for YATL.

HDFC Bank stock is trading at decadal-low valuations of about 2.1 times to book value. Not just LIC, but other long-term investors are finding value in the stock.

Indian headline indices opened in the green on gains in bank stocks and tracking positive cues from global markets. The top gainers were ONGC, Adani Enterprises, SBI Life, HDFC Bank, and Sun Pharmaceuticals. The top losers were Cipla, Dr Reddy's Laboratories, Bajaj Auto, ITC, and Divi's Laboratories. HDFC Bank stock rose nearly 2% after the banking regulator allowed LIC to up its ownership. Most major Asian indices were trading positive after the China regulators took new steps to support the market.