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.

Shares of Ashok Leyland, a commercial vehicles maker, increased by 4% after the company reported a 5% YoY rise in vehicle sales in June 2023. The company's medium and heavy commercial vehicle sales were up 6% while light commercial vehicle sales increased by 2% YoY. The stock has seen a 14% surge in the last month, and analysts have an average target price of Rs 180. In Q4 FY23, the company's net profit dropped by 17% YoY, but revenue rose by 33%. For FY23, net profit more than doubled, and revenue grew by 67%.

Shares of HDFC, which has merged with HDFC Bank, surged over 3% as traders sought arbitrage opportunities ahead of the delisting date. The merger deal will create the world's fourth largest bank in terms of market value. Analysts expect the merger to result in strong growth and profitability, with a 15.7% market share. The bank is expected to see loan and deposit growth of around 17% and 19%, respectively. The merger became effective on July 1, with a share swap ratio benefiting HDFC shareholders. The record date for share allotment under the merger deal is July 13.

Indian equity indices are trading at fresh all-time high levels. Amid this backdrop, a host of analysts have shared their tech views on particular stocks that can rally up to 10% in the short term. These stocks include Hindustan Petroleum and LTTS. Here are 4 tech picks from various analysts:

Shares of most Adani Group companies have rebounded in the June quarter after a tumultuous March quarter. Adani Enterprises saw a net gain of over 36% in the quarter, while Adani Power gained more than 30%. The recovery was driven by the group's efforts to reduce debt, decrease pledged shares, and positive initial findings by a Supreme Court-appointed panel. However, concerns remain as SEBI continues to investigate the matter and US authorities are reportedly looking into investments in Adani stocks. GQG Partners expressed confidence in the group and made significant investments.

Goldman Sachs has given a 'Buy' rating for UltraTech Cement and KPIT Technologies, with target prices of Rs 8,720 and Rs 1,200, respectively. The brokerage firm expects strong volume growth for UltraTech Cement and sees market share gains for the company. For KPIT Technologies, Goldman Sachs anticipates growth in revenue due to exposure to the growing electric vehicle and driverless car market. On the other hand, Morgan Stanley has an 'Underweight' stance on MCX and a price target of Rs 1,125, citing the average daily traded value as a key driver of the company's profits and share price.

Sensex hits 65K, up nearly 300 points; Nifty above 19,250; UltraTech, M&M gain 2% each; HDFC, Tata Motors are some of the gainers in the morning trade.

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.

ET Now spoke to various experts and here's what they have to recommend for today's trading session. Kunal Bothra has a buy/sell recommendation on HDFC Bank and Maruti Suzuki while Nooresh Merani has a buy/sell recommendation on Bharat Forge and Bandhan Bank for today's trading session. Check out the targets and stoploss.

Indian stock indices, S&P BSE Sensex and Nifty50, reached new all-time highs on Friday, closing with gains. The Sensex rose by 803 points or 1.26% to 64,719, while the Nifty50 climbed 217 points or 1.14% to 19,189. The Nifty Bank also saw gains of nearly 1%. The positive performance was attributed to global data, strong foreign institutional investor (FII) buying, and progress in monsoon. The auto sector is expected to be in focus due to monthly sales data releases, and economic data locally and globally will influence market movements.

Nifty futures on the GIFT Exchange traded 23 points, or 0.12 per cent, higher at 19,368, signaling that Dalal Street was headed for positive start on Monday. Here's a slew of stocks that will be in focus today for various reasons.

Indiabulls Housing Finance has been placed under the futures and options (F&O) ban, but will still be available for trading in the cash market. The ban on a stock occurs when the open interest (OI) crosses 95% of the market-wide positions limits (MWPL) and is only lifted when the OI falls below 80%. Traders who deal with indices are not affected by security bans. Indiabulls Housing's MWPL stood at 97.2% on Friday, with OI at 59.5 million, up by 9.9% from the previous session.

In the Nifty 200 pack, we have collated a list of 8 stocks that witnessed a 5-year swing high at the close on June 30, suggesting bullishness in counters, according to stockedge.com's technical scan data. Take a look.A 5-year swing high represents the highest price a stock has reached within a five-year timeframe. This level acts as a significant resistance point where the price has historically struggled to go beyond. This occurrence may be seen as a bullish sign, indicating the potential for further upward movement in the stock.However, it's worth noting that this is different from a 5-year breakout, which occurs when a stock's price surpasses a key resistance level that has held for five years.

In the Nifty200 pack, five stocks crossed above their 200 DMA (Daily Moving Averages) on June 30, according to stockedge.com's technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend. Take a look:

The $7.5 billion derivative trade from the Singapore Exchange (SGX) has shifted to the NSE International Exchange (NSE IX), resulting in the rebranding of SGX Nifty futures contracts as Gift Nifty. Gift Nifty will now trade in NSE IX, which operates under the regulatory framework of the International Financial Services Center Authority. SGX Nifty has been suspended for trading and will eventually be delisted. There will be no significant impact on retail traders and investors, as it is simply a migration from one exchange to another. Gift Nifty will be accessible for almost 21 hours, overlapping with trading hours in Asia, Europe, and the US.

Starting Monday, derivatives contracts of SGX Nifty, previously traded on the Singapore exchange, will begin trading on NSE's International Financial Services Centre (IFSC) in India. The shift is part of an arrangement between NSE and SGX. SGX Nifty/GIFT Nifty is a derivatives contract on NSE's Nifty index, allowing investors to gauge Nifty performance before Indian market opens. Nifty contracts on NSE are in rupees, while GIFT Nifty contracts are in US dollars. GIFT Nifty trading on IFSC offers benefits such as exemption from securities transaction tax, commodities transaction tax, dividend distribution tax, capital gains tax, and income tax.

Equity benchmarks reached new record highs last week due to foreign fund inflows and a positive global market trend. Stocks in focus were HDFC AMC, which saw a 11.5% rise, KFin Technologies, with a gain of 6.77%, and Easy Trip Planners, which fell 3.22%. Analyst Pravesh Gour recommends buying HDFC AMC for the long term, as it has formed a double bottom formation and has strong volume support. He suggests buying KFin Technologies due to its impressive structure and positive trend. However, he advises avoiding Easy Trip Planners due to its continuous downtrend formation and negative technical indicators.

For investors looking for signs of real economic recovery, not just the stock market rally, here are some stocks that can give a minimum of 20% returns over the next twelve months, recommended by India’s top brokerages.

Asian shares rose, driven by demand for tech stocks in Japan. The outlook for the Chinese economy and U.S. interest rates is expected to be determined this week. China's recovery is currently below expectations, with the Caixin manufacturing survey forecasted to dip in June. The Bank of Japan's survey showed improved business sentiment, while Japanese stocks surged due to offshore buying. MSCI's Asia-Pacific index slightly increased, while S&P 500 futures and Nasdaq futures remained steady. The tech sector could be further boosted by Tesla's record vehicle deliveries in Q2 and Apple's market valuation surpassing $3 trillion.

"We expect the uptrend in Indian equities to continue in the near term. Next week the market will take cues from economic data to be released locally as well as globally.," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services

Promoter entity Fortitude Trade and Investment has sold its entire stake in Adani Transmission Ltd for about Rs 2665 crore through bulk deals on Friday. Meanwhile, GQG partners has bought a stake worth Rs 1,676 crore in the company.

The futures short position scan conducted on Friday revealed Aggressive New Short positions on 5 mid cap stocks. This is a bearish indicator, as it signifies that the futures OI has increased while price has decreased. (Source: StockEdge)

"Traders can look to buy this stock in the range of Rs. 42-41 for potential targets of Rs. 47 and Rs. 49. The stop loss on long positions should be placed below Rs. 38," Ruchit Jain, Lead Research, 5paisa.com, said.

According to Sebi's new regulations, FPIs - other than sovereign funds, pension funds and public retail funds - having more than 50% of their equity assets under management in a single corporate group or with total equity exposure of ₹25,000 crore or more would have to share the identities of their ultimate beneficial owners (UBOs) who are the last natural persons behind the multiple vehicles in an FPI structure. The rules are expected to be notified soon.

In the fiscal year 2023, the combined ratio - an indicator of profitability, which is calculated by measuring the sum of incurred losses and operating expenses as a percentage of earned premium - rose for almost all general insurers.

On the candlestick screener, a bullish reversal pattern helps identify stocks that can move uptrend from a downward zone in the future. So, here are 6 stocks with m-cap above Rs 1000 crore that have established a Bullish Harami pattern and hint at bullish reversal in the future. (Source: StockEdge)

State Bank of India (SBI) and Punjab National Bank (PNB) had given loans to Parenteral Drugs, a contract manufacturer of liquid formulations which is undergoing corporate insolvency. A binding offer by NARCL for the pharma company had triggered a Swiss Challenge auction, following which SBI invited counter offers from other asset reconstruction companies (ARCs).

As much as 67.73% of the shareholders at the AGM voted in favour of the special resolution, while 32.27% voted against. "The resolution was defeated as it needed to be supported by 75% of the total voting," the company said in a regulatory filing on Saturday.

Customers can now withdraw cash seamlessly from ICCW-enabled ATMs of any bank by using the 'UPI QR Cash' functionality. The transaction will be facilitated through a single-use dynamic QR code displayed on the ATM screen without using a PIN or a physical debit card.

Bearish reversal scan on the candlestick screener can help in ascertaining stocks which can slip downward from an uptrend zone. Here is a list of 4 major stocks that have established a Shooting Star pattern and signal bearish reversal. (Source: StockEdge)

​Chart patterns suggest that the zone of 18,900-18,950 for the Nifty will be strong support going forward. Until the index sustains above the level of 18,900, we may witness the continuation of this strong momentum up to the level of 19,450-19,500. However, if the index slips below 18,900, profit booking up to 18,650-18,500 could be witnessed. Options data suggest a broader trading range of 18,900-19,500 for the upcoming week.

some stocks that can give a minimum of 20% returns over the next twelve months, recommended by India’s top brokerages.

"This substantial growth - adding $3.5 trillion-4 trillion to our economy (in nominal terms) - equals what even the entirety of Europe is likely to achieve," he said. "It is no wonder that companies worldwide are recognising the significance of this opportunity."

SGX Nifty, the Singapore Exchange-traded futures on India's key equity NSE Nifty 50 Index, will be known as GIFT Nifty from July 3, and all outstanding orders will be transferred to the GIFT City, the new financial hub in the western Indian state of Gujarat.

The stock rose from Rs 31 as on March 28, 2023, to Rs 41 as on June 28, 2023, which translates into an upside of over 31% in a matter of three months. The stock rose more than 14% in a month.

The Indian market continued its upward trend for the third consecutive day, with the S&P BSE Sensex rising over 800 points and the Nifty50 closing just below 19,200 levels. Stocks in the IT, auto, capital goods, and public sector sectors saw significant buying. Nippon Life AMC, HDFC Asset Management Company, and Mahindra & Mahindra were among the stocks that performed well. Technical analysis suggests that Nippon Life may experience further bullish momentum after a price dip, while HDFC AMC and Mahindra & Mahindra have shown positive breakout patterns.

Even as the global market sentiment remained weak, Indian equities on Friday hit another fresh all-time high driven by continued FII inflows. Nifty gained over 1% to close at 19,189, after topping 19,200 levels intraday. Market buoyancy was broad-based with broader markets also notching fresh highs. On a weekly basis, Nifty climbed 2.8%.“The near-term uptrend of Nifty remains intact and one may expect Nifty to reach up to 19,500 levels in the coming week. Immediate support is at 19050 levels,” Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said.Here are stock recommendations for Monday:

Last week, the combined market valuation of the top 10 most valued firms in India increased by Rs 1.88 lakh crore. HDFC Bank and Tata Consultancy Services saw the biggest gains. The BSE Sensex also reached a lifetime closing high, increasing investor optimism. The market valuation of HDFC Bank surged the most, followed by TCS, Infosys, and Reliance Industries. Reliance Industries remained the most valued company, with TCS, HDFC Bank, ICICI Bank, and Hindustan Unilever following suit.

GQG Partners, a US-based investment firm, has increased its shareholding in two Adani group companies, Adani Enterprises Ltd and Adani Green Energy Ltd, to over 5%. This move demonstrates GQG's confidence in the group despite recent allegations of accounting fraud and stock manipulation made by a US short seller. GQG purchased additional stakes worth $1 billion, boosting its holdings in Adani Enterprises Ltd to 5.4% and in Adani Green Energy Ltd to 6.54%. The Adani family's stake in Adani Enterprises has reduced to 67.65% as a result of their sale of shares to GQG.

June was a strong month for foreign portfolio investors (FPIs) in India, with a total inflow of Rs 47,148 crore. This marked the fourth consecutive month of net buying in domestic stocks for FPIs. The sustained FPI flows can be attributed to improving macroeconomic conditions and a reversal in FPI strategy. In the first half of 2023, FPIs have invested a total of Rs 76,407 crore. However, FPIs may become more cautious in the future due to rich valuations in India.

The National Stock Exchange is planning to expand its product portfolio by exploring opportunities in electricity derivatives and the voluntary carbon credit market. It also aims to introduce derivative contracts based on corporate bond indices and government bond indices, pending approval from regulators. The exchange is evaluating the voluntary carbon credits market, which could be worth an estimated $150 million. Additionally, the Indian Energy Exchange has announced similar plans to explore opportunities in the voluntary carbon market. The Indian government is developing the Indian Carbon Market to decarbonize the economy through the trading of carbon credit certificates.

From being a must have in portfolio, AMC stocks have seen a long phase of underperformance and now clean out block trades. A headline which says that SEBi has delayed making changes in TER makes AMC stocks move up sharply. A delay in what appears to be a challenge, is enough to bring back interest on the counters. Is it an indication that once the “ challenge” is out of the way, these stocks will again regain their valuations back.

Foreign Portfolio Investors (FPIs) have made a record-high investment of Rs 47,148 crore in Indian equities in June, encouraged by the country's improving macroeconomic situation. However, FPI inflows may slow in July due to the US Federal Reserve's recent comments. FPIs are expected to be cautious because valuations in India are considered high in the short term. The sustained FPI flows are attributed to India's positive domestic indicators, including strong monsoon activity, as well as concerns over China's economic recovery and uncertainties in the US and UK. FPIs have also invested in sectors such as finance, automobiles, and capital goods.

When the nifty is forming a new high everyday, risks are increasing on the street. In such times, it would be better that while looking at growth stocks one also focuses on reducing the risk by taking a hard look at some numbers which are critical indicators. Refinitiv’s Stock Report Plus which lists stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or strong Buy

PE ratio often acts as an anchor when investors are making investment decisions. The reason it is easy to calculate narrative has been going in the market for ages that it lower the PE, cheaper the stock. Given the huge difference in what is value and what looks cheap due to one financial ratio, more often than not, relying on PE may lead to wrong investment decisions.

Despite concerns about a global recession and a local slowdown, the market has performed better than expected, thanks to a relief rally following a prior sell-off. The global economy has demonstrated resilience, and it is projected that the US economy will avoid a deep correction. However, the market may trade in a range with mixed bias in the near term, as equities may underperform due to fundamental and technical parameters. The volatility index suggests stability and optimism, but low levels of volatility are unlikely to be sustained considering the current economic conditions. Nevertheless, the downside risk is adequately mitigated, and a substantial correction is not anticipated. The earnings outlook for India is improving, and the risk is low in India compared to the global market.

So far in FY24, Nifty advanced over 10.5% amid better macroeconomic data, continued FII buying, and declining crude oil prices. Meanwhile, a host of brokerage firms have initiated coverage on several stocks. They see a strong potential in these companies, with a targeted upside of up to 57%. Here is a list of 5 stocks on which brokerages initiated coverage:

Several corporate actions are scheduled for this week. Companies like Adani Enterprises, Mphasis, Biocon, Ashok Leyland, and Axis Bank will trade ex-dividend, while Kansai Nerolac Paints and Aptech will trade ex-bonus. The ex-dividend date is when the share price is adjusted for dividend payouts. Various companies such as ACC, Ambuja Cement, and Bharat Forge will also trade ex-dividend later in the week. Additionally, several companies have fixed dates for their right issues or ex-bonus trading.