​​ Extending gains to the fifth consecutive session, the Nifty Bank index, popularly known as Bank Nifty, closed above 44,000-levels for the first time on Wednesday. Analysts, in a poll, said the index could move up as much as 7% in the near-term over its close of 44,049.1 on Wednesday.

Banks and non-bank lenders said while big corporates are accessing the offshore market and alternative investment funds (AIF) for incremental capex, MSMEs that rely on the bank and NBFC funding are taking fresh term loans to add new plants and factories.

Lenders led by IDBI Bank had invited expressions of interest from asset reconstruction companies to take over the debt of NFC after attempts to initiate an insolvency process against the company were stonewalled by the promoter.

The stock recently created a strong base above Rs 500-550 levels in December. Hence, traders can look to buy the stock now or on dips towards Rs 540 levels for a possible target of Rs 580-600, suggested experts

Poonawalla Housing Finance is a lender in the affordable segment of the housing finance market with 128 branches across India. It had its assets under management at Rs 5612 crore at the end of September. It made a net profit of Rs 33 crore in the second quarter of FY23.

The Federal Open Market Committee raised its benchmark rate by 50 basis points to a 4.25% to 4.5% target range. Policymakers projected rates would end next year at 5.1%, according to their median forecast, before being cut to 4.1% in 2024 -- a higher level than previously indicated.

The Dow Jones Industrial Average rose 0.54%, the S&P 500 gained 0.58% and the Nasdaq Composite added 0.57% in early trading.

“Jubilant Ingrevia has been forming a ‘Higher Top Higher Bottom’ structure on the daily chart and prices are trading in a ‘Rising Channel’ which indicates a short-term uptrend and post the recent correction,” Ruchit Jain, Lead Research, 5paisa.com, said.

Small negative candle was formed on the daily chart with minor upper and lower shadow. Technically, this pattern indicates a high wave or doji type candle pattern after a rise. Normally, such candle formations after a reasonable rise signal volatility at the highs and sometimes it acts as a reversal pattern post-confirmation.

The order came after Sebi issued a show cause notice in June to COT, Jitendra Kumar Ganeshlal Bata, Goutam Sarvar and Mukeshbhai Ramanbhai Muniya for providing investment advisory services without obtaining registration from Sebi in violation of IA (Investment Advisers) norms.

The sale of the business is expected to enhance shareholders’ value in the long term, as Poonawalla Fincorp focusses on building a tech-led and digital-first financial services company

“Considered and approved to recommend the issue of bonus shares in the ratio of 1:1 for the approval of the members in the ensuing 37th Annual General Meeting of the Company,” said the company in the filing with the exchanges.

The Dow Jones Industrial Average fell 22.57 points, or 0.07%, at the open to 34,086.07

Benchmark indices Sensex and Nifty ended with gains on Wednesday, extending the previous day’s rally amid lower level of inflation on the domestic front and better-than-expected inflation readings from the US. The 30-share BSE Sensex climbed 145 points to settle at 62,678. The broader NSE Nifty advanced 52.30 points to end at 18,660. “Nifty remained range-bound following a start with an upside gap. On the higher end, however, it failed to move beyond the resistance of 18,700. The trend remains positive as long as it holds above 18,500. On the higher end, the directional up move may come above 18,700 only. Till then, Nifty may remain within the range of 18,500-18,700," said Rupak De, Senior Technical Analyst at LKP Securities. Here are 6 stock recommendations for Thursday:

The last date to submit bids is now January 7 against previously fixed December 16.

This is at an over 7% discount to Wednesday’s closing price of Rs 734.90

Also on Dec. 5, the Group of Seven leading economies implemented a $60 price cap on Russian seaborne oil to try to limit Moscow's ability to finance its war in Ukraine.

Benchmark index Sensex closed a tad higher by about 144 points at 62,677 on Wednesday. During this rally, five stocks from the BSE Capital Goods Index managed to touch new 52-week highs.The 52-week high is the highest price at which a stock has traded during the last year. Some traders and investors use this technical indicator as an important factor for analysing a stock's current value and for predicting its future price movement.

The keenly awaited outcome of the Fed meeting would be announced by the US central bank at 12:30 am IST followed by a press conference by Fed Chair Jerome Powell at 1 am

Benchmark indices ended higher on Wednesday, led by information technology and metal stocks, as cooler-than-expected US inflation data boosted bets that the Federal Reserve will slow the pace of interest rate hikes. Sensex ended 145 points higher at 62,678, while Nifty added 52 points and topped 18,660 level. Sectorally all the indices ended in the green, barring Nifty FMCG.Here are the stocks that attracted investors’ attention in Wednesday’s trade:

“Nifty is now placed at the crucial resistance of 18,650 level and is not showing any strength to surpass the hurdle decisively. A sustainable up move from here could confirm an upside breakout of the resistance and any failure is likely to result in minor downward correction ahead,” said Nagaraj Shetti of HDFC Securities.

The debentures are proposed to be listed on BSE. Debenture Trust Deed will be duly executed as per the requirements of and within the period of time prescribed under the Companies Act and rules specified therein.

In the Sensex pack, Tech Mahindra, Tata Steel, NTPC, SBI, IndusInd and Power Grid were the top gainers, rising about 1-2%

The Securities and Exchange Board of India (SEBI) is considering reducing the size of REITs, allowing them to hold just a single asset or a diversified portfolio, to increase supply and flexibility for investors, said the official.REITs in India must now have a minimum asset value of 5 billion rupees ($60 million). The possibility that SEBI may lower the minimum has not been reported previously.

RCF commands a dividend yield of over 2%. For the previous fiscal year ending March 2022, the company declared a dividend of Rs 3.85 or 38.5%. Considering the current share price, it amounts to a dividend yield of 2.85%.

Closing Bell: Sensex ends 145 points higher ahead of Fed outcome; Nifty crosses 18,650; Voda Idea jumps 10%, Yes Bank cracks 8%.

“We expect this outperformance for banks and the tailwind for the sector to continue for 2023. In the short term, after yesterday's inflation print in the US, there is an expectation in some quarters that the US Fed might turn less hawkish in the upcoming policy, which will support the markets,” he added.

Technology heavyweights led the Nikkei higher, with chip making equipment maker Tokyo Electron rising 1.9% to provide the biggest boost to the index. Wafer maker Shin-Esu Chemical gained 3.01%, while air-conditioning maker Daikin Industries rose 1.18%.

The index had rallied more than 1% on Tuesday as equities globally received a boost from softer-than-expected U.S. inflation data that raised hopes of the Fed shifting to smaller rate hikes.

Catering exclusively to the financial services & technology industry, Finbridge Expo has become a mainstream platform for many financial service providers to showcase their products and services. The event would be held from December 17-18 at Nehru Centre, Worli, Mumbai from 17th – 18th December.

The Federal Open Market Committee is widely expected to raise rates by 50 basis points and bring its benchmark target rate to a range of 4.25% to 4.5%, the highest since 2007. Fresh quarterly economic projections released after the meeting will also shed light on how much further policymakers expect rates to go.

In its report, Morgan Stanley said YES Bank is moving in the right direction post 2020 NPA crisis. It stated that the bank has focused on reducing asset quality challenges by accelerating provisions and cleaning up its balance sheet organically as well as via asset sales. It expects gross impaired loans to fall to 9% by end of FY23 from a peak of 22% in March 2020.

In early part of 2022, a sharp rise in the price of polymers and speciality chemicals prices hit the margins of packaging companies. With now prices cooling off, tailwinds for select packaging companies have increased exponentially in a short span of time. The list is based on upside estimated by the analysts, with the highest potential stock coming on the top of the list.

In an exchange filing, the company said that its board of directors are scheduled to meet on December 16, Friday, to consider fund raising plans. The company is likely to raise funds through the issuance of equity shares of the company on a rights basis to the existing equity shareholders, it added in the regulatory filing.

The board of directors of the company, at its meeting held on November 2, 2022, had approved a proposal of the buyback of fully paid-up equity shares of the company through the tender offer route, at a price of Rs 350 per equity share for an aggregate amount not exceeding Rs 190 crore.

In a regulatory filing, the company said that the company has received approval from a US company to buy a mass quantity of flanges, forged fittings and other components.

After a quick correction, domestic equity markets are back in recovery mode, suggest analysts. However, the volatility is not yet over as traders will be looking at Fed meet outcome which may guide the market direction. Analysts believe that select stocks are ready for a breakout on a technical basis and may rally sharply for near-term gains. Here are a few of their recommendations:

Global brokerage Morgan Stanley has initiated coverage on Yes Bank with an underweight rating and a target price of Rs 20.50. The Return on Asset (ROA) recovery beyond 1% will be gradual, said the foreign broker. The global investment bank expects strong RoA improvement to 1% by FY25, which will be helped by higher PPOP margins/lower credit costs, it said.

Morgan Stanley analysts said PSU banks should see relatively higher margin expansion compared to many private banks over F22-F24, reflecting a higher starting point of liquidity, sharp moderation in NPA formation, reducing interest income reversals and lower share of wholesale deposits relative to select private banks.

The stock hit a fresh high of Rs 1,695 on September 2, 2022, but it failed to hold on to the momentum. Momentum suggests that the stock will be able to break above this level. On the price front, the stock price is trading above the crucial short- and long-term moving averages placed at 5,10,30,50,100, and 200-DMA which is a positive sign for the bulls.

Nothing is more important than our health. We need to be financially ready to handle whatever life throws at us. In recent times, the Covid-19 pandemic and its impact have added impetus to the importance of being financially prepared for medical emergencies.

Paytm board believes that this buyback is a sign of confidence that the company is on a clear path to deliver cash flow profitability, and this buyback will not have any impact on its growth plans in the near future or on its profitability plans," the company said.

Declining for the 5th consecutive month, NSE active user clients fell 1% month-on-month to 3.6 crore, according to a report by Motilal Oswal. Data shows that the top five brokers control over 60% of the market. Here is a list of the top 5 stock brokers:

The selling could well be part of a strategy of mutual funds to book profits in the stock which has gone up 3 times in the last 5 years. On the other hand, HDFC Bank has gone up by only about 75% during the period. Even on a year-to-date basis, ICICI Bank is up 22% while its larger peer has returned just about 8%.

Sensex rises 180 points, Nifty above 18,650; NCC gains 3%, Yes Bank 2%; Rupee slips 4 paise to 82.64 against US dollar in early trade.

In the NSE list of stocks with a market cap of over Rs 5,000 crore, seven stocks crossed their previous 5-year high value at the close on December 13, suggesting bullishness in counters, according to stockedge.com's technical scan data. Take a look

“The lower-than-expected November CPI inflation in the US which came at 7.1% YoY and only 0.1% MoM confirms the market expectation that the Fed will hike rate by only 50bp today. The consensus terminal Fed fund rate is now slightly below 5%, which is market positive,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.

Credit Suisse maintained an outperform rating on InterGlobe Aviation with a target price of Rs 2350 on the back of strong plane addition in Q3, particularly 321 NEO. Indigo is leveraging the robust demand environment, it said. The global brokerage firm is of the view that a combination of higher yield and lower costs may lead to a strong Q3.

S&P BSE Sensex closed with gains of over 400 points while Nifty50 reclaimed 18,600 levels on Tuesday.

In the NSE list of stocks, five stocks with a market cap of over Rs 500 crore 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 December 13. Take a look: