The S&P 500 and Nasdaq indexes reached their highest in 14 months as economic data eased concerns about inflation, increasing bets that the U.S. Federal Reserve is nearing the end of its aggressive interest-rate hike campaign. This helped offset worries about future rate hikes and boosted companies like Apple and Microsoft, which both reached record highs. Traders believe there is a 67% chance of a 25-basis point rate hike in July, followed by a potential rate cut by December. All 11 S&P 500 sector indexes rose, and the Dow Jones Industrial Average also increased.

Private investment firm Bain Capital has sold partial stake in private lender Axis Bank via block deal on Thursday, while many domestic and foreign funds lapped up the shares.

The Reserve Bank of India may need to tighten retail credit norms as the unsecured loan portfolio for the banking sector doubled in four years to reach INR 11.1tn ($148bn) and risky borrowing among less-privileged sectors grew. Unsecured personal loans circulated by banks and NBFCs rose 20.2% in Q4 2022 over the same period the previous year.

Companies in India are turning to high-yield bonds and other alternative sources of finance after the removal of taxation benefits on market-linked debentures and debt mutual funds. The move has triggered a demand for private credit funds, alternative investment funds (AIFs), family offices, and high-net-worth individuals (HNIs). Private firms with ratings between BBB and A+ have seen limited appetite among qualified institutional buyers, and that has prompted them to seek funding elsewhere.

The brokerage placed IT giants Infosys, TCS, and Mphasis under its 'negative catalyst watch', and downgraded Persistent Systems to 'underperform' from 'neutral'. "We expect most IT services firms to miss current expectations," said JP Morgan in a note to clients.

Yet plenty on Wall Street have cause for concern. Think sobering economic signals in the bond market, rich equity valuations and febrile market patterns across decades of business cycles.

Jain who is incharge of the supervision, financial inclusion and consumer protection departments among others at the RBI said corporate governance is invariably the root cause of supervisory concerns. Supervisors must closely examine the business models adopted by banks and meticulously assess whether these models align with the institutions' risk appetite, he said.

​​Wipro is expected to get $32 million whereas Punjab National Bank, Bajaj Finance, Varun Beverages, and Adani Transmission could see inflow of $20 million each. Infosys, HCL Tech, and Equitas Small Finance could see an outflow between $13 million and $34 million.

The Sensex slipped below the 63,000-mark to end at 62,917.63, down 310.88 points or 0.49% from the previous close. The Nifty fell 67.80 points or 0.36% to settle at 18,688.10. The broader markets resisted selling pressure and closed Thursday's session in the green.

Samvardhana Motherson International, a major player in the auto component industry, recently experienced a breakout from a falling resistance, indicating the presence of bulls, according to experts. One to two-month target price for the stock is above Rs 90.

The S&P 500 and Nasdaq hit fresh 14-month highs, while the Dow touched a six-month peak during the session, underpinned by signs of economic resilience, a better-than-expected earnings season and bets that interest rates are near their peak. At 12:32 p.m. ET, the Dow up 1.13%, the S&P (0.83%) and the Nasdaq Composite (0.61%)

Morgan Stanley and Bernstein are both optimistic about the growth prospects of Reliance Industries Ltd. Morgan Stanley sees both refining and chemicals margins expanding to reverse a four-quarter earnings downgrade cycle, while Bernstein predicts that RIL's new energy business will become the new pillar of growth.

The European Central Bank (ECB) has reportedly begun to consider evening out the "corridor" between the ECB's three interest rates, as the bank moves away from its policy of cheap money and towards a situation where banks must borrow from the central bank. The move, which was discussed at length during a policy meeting last week, would be achieved by making the spreads between the rates more equal. However, the policy was parked for now to avoid blurring the ECB's policy message.

Wall Street indexes edged higher as mega-cap stocks rose alongside lower Treasury yields, despite the Federal Reserve's hawkish comments on interest rates. U.S. retail sales rose in May as consumers spent on various goods, and initial jobless claims held steady. Treasury yields fell, increasing the value of growth stocks-sensitive such as Apple and Microsoft. Energy stocks led gains among S&P 500 sectors, supported by rising crude prices. However, Kroger, a big-box retailer, fell after missing its first-quarter revenue targets. U.S.-listed shares of Chinese companies, such as Alibaba, rose almost 3% after China's central bank cut its borrowing cost for the first time in ten months.

The Securities Appellate Tribunal (SAT) Thursday declined to pass an interim order against the Securities and Exchange Board of India (SEBI) direction barring Essel Group Chairman Subhash Chandra and his son Punit Goenka from holding key managerial positions in any listed entity.

Morgan Stanley and Bernstein are both optimistic about the growth prospects of Reliance Industries Ltd (RIL). Morgan Stanley sees both refining and chemicals margins expanding to reverse a four-quarter earnings downgrade cycle, while Bernstein predicts that RIL's new energy business will become the new pillar of growth. Bernstein forecasts that by 2050, Reliance New Energy will be valued at Rs 1,200-2,200/share, equivalent to over 10x the current value. Both firms argue that concerns over RIL's debt are overdone.

Private equity firm Bain Capital has sold a partial stake in Axis Bank, India's third largest private lender, amounting to 0.7% of the lender. In total, the shares sold amounted to INR2,178 crore ($309m), marking the second time in less than a year that Bain Capital reduced its stake in the bank. Following the sale, Bain now holds around 1.3% stake in the bank's capital. Morgan Stanley, Goldman Sachs, Kuwait Investment Authority, Hartford and Nomura were among the domestic and foreign institutions that bought stakes as part of the block deal.

Equity benchmarks Sensex and Nifty buckled under selling pressure on Thursday as investors pared exposure to banking, IT and finance stocks after three sessions of gains amid the US Fed's hawkish stance on interest rates. A weak opening in European markets and the depreciating rupee also sapped risk appetite, traders said. Nifty settled lower by 68 points or 0.36% at 18,688. S&P BSE Sensex lost 0.49% to 62,917.63Meanwhile, broader markets ended in the green, with Nifty Midcap 100 notching around 0.2% gains“The Nifty, experienced a bearish engulfing pattern, indicating a potential reversal of its previous bullish trend. Additionally, it formed a double top on the hourly chart, which further suggests a potential downturn. The Relative Strength Index (RSI) is showing negative divergence, indicating weakening bullish momentum,” Rupak De, Senior Technical at LKP Securities, saidHere are the stock recommendations for Friday:

Wall Street indexes edged higher as mega-cap stocks rose alongside lower Treasury yields, despite the Federal Reserve's hawkish comments on interest rates. U.S. retail sales rose in May as consumers spent on various goods, and initial jobless claims held steady. Treasury yields fell, increasing the value of growth stocks-sensitive such as Apple and Microsoft. Energy stocks led gains among S&P 500 sectors, supported by rising crude prices. However, Kroger, a big-box retailer, fell after missing its first-quarter revenue targets. U.S.-listed shares of Chinese companies, such as Alibaba, rose almost 3% after China's central bank cut its borrowing cost for the first time in ten months.

Equity benchmarks Sensex and Nifty buckled under selling pressure on Thursday as investors pared exposure to banking, IT and finance stocks after three sessions of gains amid the US Fed's hawkish stance on interest rates. A weak opening in European markets and the depreciating rupee also sapped risk appetite, traders said. Nifty settled lower by 68 points or 0.36% at 18,688. S&P BSE Sensex lost 0.49% to 62,917.63Meanwhile, broader markets ended in the green, with Nifty Midcap 100 notching around 0.2% gains“The Nifty, experienced a bearish engulfing pattern, indicating a potential reversal of its previous bullish trend. Additionally, it formed a double top on the hourly chart, which further suggests a potential downturn. The Relative Strength Index (RSI) is showing negative divergence, indicating weakening bullish momentum,” Rupak De, Senior Technical at LKP Securities, saidHere are the stock recommendations for Friday:

Do you know which companies had the highest EBITDA margin in FY23? Which sectors performed well and which ones did not? In this video, Neha Vashishth of ET Markets lists out 10 companies with highest EBITDA margin in FY23. Watch!

Equity benchmarks Sensex and Nifty buckled under selling pressure on Thursday as investors pared exposure to banking, IT and finance stocks after three sessions of gains amid the US Fed's hawkish stance on interest rates. A weak opening in European markets and the depreciating rupee also sapped risk appetite, traders said. Nifty settled lower by 68 points or 0.36% at 18,688. S&P BSE Sensex lost 0.49% to 62,917.63Meanwhile, broader markets ended in the green, with Nifty Midcap 100 notching around 0.2% gains“The Nifty, experienced a bearish engulfing pattern, indicating a potential reversal of its previous bullish trend. Additionally, it formed a double top on the hourly chart, which further suggests a potential downturn. The Relative Strength Index (RSI) is showing negative divergence, indicating weakening bullish momentum,” Rupak De, Senior Technical at LKP Securities, saidHere are the stock recommendations for Friday:

What are the steps to become a professional trader? How do you start in the markets? Neha Vashishth of ET Markets lists out ten quick tips to start a successful journey in stock markets. Watch!

ETMarkets has identified 9 stocks with a market cap of over Rs 10,000 crore that have shown a bullish MACD crossover signal, indicating a potential upward trend. Godrej Industries, Data Patterns (India), Carborundum Universal, UNO Minda, Asian Paints, Bata India, Honeywell Automation India, Indian Oil Corporation, and Coforge are the companies identified. These companies operate in various sectors such as consumer goods, electronics, automotive components, paints, automation, oil refining, and IT solutions, making them significant players in their respective markets and potential opportunities for investors.

Do you know which companies had the highest EBITDA margin in FY23? Which sectors performed well and which ones did not? In this video, Neha Vashishth of ET Markets lists out 10 companies with highest EBITDA margin in FY23. Watch!

Despite the Sensex benchmark index experiencing a decline of 310 points and settling at the 62,917 on Thursday, it's noteworthy to mention that 9 stocks from the BSE FMCG index defied the market downturn and achieved new 52-week highs. The significance of the 52-week high lies in its role as a vital technical indicator for traders and investors. It serves as a means to evaluate a stock's current value and predict future price trends, representing the highest price at which the stock has traded within the past year.

Indian plant-based protein company Evolved Foods has raised INR73m ($1m) in its seed round, led by Rainmatter Health, which is backed by Zerodha, and Kamala Capital. The round also saw a number of angel investors participate. Evolved aims to counter protein deficiency in the average Indian diet, using soy, coconut, rice protein and other ingredients to make its Evolved Plant Meat. “Most Indians don't get enough protein in their diets, and this is a problem," said Dilip Kumar, for Rainmatter Health. "The approach that Evolved Foods is taking to tackle this with their innovative, protein-rich plant-based foods while being mindful of the carbon footprint really resonated with us.

Dow falls 33 points; S&P 500 opens lower by 7.26 points and Nasdaq Composite drops 53.60 points

Markets regulator Sebi has ordered the attachment of bank accounts and shares and mutual fund holdings of fugitive businessman Mehul Choksi to recover dues of Rs 5.35 crore for indulging in fraudulent trading in the shares of Gitanjali Gems. Choksi is the maternal uncle of Nirav Modi, and both of them are facing charges of defrauding Punjab National Bank of over Rs 14,000 crore. To recover dues, Sebi has asked all banks, depositories, and mutual funds not to allow any debit from Choksi's accounts, including lockers, and attach all accounts held by the defaulter.

Seven Nifty500 stocks, including Gland Pharma, Adani Green Energy, Adani Transmission, Piramal Enterprises, Adani Total Gas, Piramal Pharma, and Brightcom Group, have recently witnessed significant falls from their respective 52-week highs, indicating a challenging period for investors. The declines may be due to market volatility, company-specific challenges, industry trends, or broader economic conditions. Monitoring such declines is essential for investors to gauge market sentiment, identify potential investment opportunities, and make informed decisions regarding portfolio management. Investors should closely analyze the factors impacting these industries and evaluate the companies' ability to adapt to the changing landscape.

Seven Indian stocks with a market capitalization over Rs 1,000 crore, featuring a Golden Crossover, have been identified by ETMarkets. This refers to a short-term moving average crossing over a long-term moving average, signaling an upswing in the markets. These crossovers can signify entry points for investors seeking potential price appreciation. They include Novartis India, Tata Metaliks, Vardhman Textiles, HIL, Subros, Nesco and Himatsingka Seide, in the healthcare, pig iron and ductile iron pipes, textile, building materials, automotive air conditioning, exhibition center, and textile production sectors respectively.

The Nifty index ended down 68 points after making consecutive higher highs, forming a short-term top reversal pattern. Analysts predict a range of consolidation between 18,800-18,500 and recommend holding above the 20-day moving average and support levels of 18,636 and 18,550. India VIX dropped slightly, causing premiums to squeeze, and options suggest a broader trading range of 18,450-18,900. The Bank Nifty is forecast to trend lower towards 43,000 and has breached its consolidation range of 44,000-44,500.

The European Central Bank (ECB) increased interest rates for the eighth consecutive time and hinted that more measures may be on the horizon to manage high inflation. Despite decreasing commodity prices, the labour market remains tight, wage growth fast and underlying price pressures, particularly for services, have stayed high, which is why some policymakers have suggested a July rate hike and most are keeping an open mind about September.

Nine stocks from the BSE FMCG index hit new 52-week highs despite the Sensex benchmark index declining by 310 points and settling at 62,917. The 52-week high is a vital technical indicator for traders and investors to evaluate a stock's current value and predict future price trends, representing the highest price the stock has traded within the past year. The stocks include Bombay Burmah Trading Corporation, Mrs. Bectors Food Specialities, Britannia Industries, LT Foods, Godrej Consumer Products, Nestle India, Sula Vineyards, Tata Coffee, and Tata Consumer Products.

Stocks in focus included names like Poly Medicure, which was up nearly 13%, L&T Finance Holdings, which rose nearly 5% to hit a fresh 52-week high, and EPL, which closed flat but is inching towards fresh 52-week highs.

India's benchmark Nifty has provided approximately 5% returns in the last two months due to domestic macro triggers and consistent foreign flows. According to Prabhudas Lilladher, the country is in a strong economic position with a strong GDP forecast for FY24, declining inflation, and an industrial capex revival. The brokerage believes the Nifty is undervalued and valued it at a 12% discount to historical 10-year average PE, with a twelve-month target of 21,013. Prabhudas Lilladher is overweight on auto, banks, IT services, capital goods, healthcare and underweight on metals, cement, consumer, oil and gas, and diversified financials.

The sprawling firm, controlled by Asia’s richest man Mukesh Ambani, plans to use India’s dedicated external commercial borrowing route to secure the loan, the people said, asking not to be identified because the discussions are private.

The bullish hammer candlestick pattern is a popular technical analysis tool used by traders and investors to identify potential bullish reversals in stock prices. In this article, we will explore three large cap Nifty 500 stocks that have formed the bullish hammer candlestick pattern. By understanding this pattern and analysing the stock's recent performance, potential investors can gain valuable insights for their decision-making process.

ETMarkets' screener has identified five oversold Indian stocks with an RSI below 30 and market capitalization above Rs 250 crore. The stocks include Fourth Dimension Solutions Ltd., Indian Energy Exchange Ltd., D P Abhushan Ltd., Veranda Learning Solutions Ltd., and Rachana Infrastructure Ltd. Although these companies have faced recent negative returns, investors may find value in exploring these oversold stocks, especially in growing industries such as technology, power, jewelry, education, and infrastructure.

Closing Bell: IT, bank stocks drag Sensex 311 pts lower; Nifty below 18,700; Hero Moto, ZEEL fall 4% each

Varun Beverages, a major PepsiCo franchisee, will split its shares in a 1:1 ratio with the record date set as 15 June. The move is aimed at increasing the stock's liquidity. Varun Beverages revenues in Q1 2021 rose by 38% YoY to INR 3,952 crore ($541.4m), while profits surged 69% YoY to INR 429 crore. The company plans to expand manufacturing capacity, distribution reach, and acquire new territories, which led Sharekhan to suggest it could deliver a 30% CAGR in EPS over CY2022-CY2024. Axis Securities expects Varun to continue the positive momentum.

Among the Sensex stocks, Wipro, IndusInd Bank, SBI, Kotak Bank, HDFC Bank, ICICI Bank, and Infosys closed in the red, while Nestle, M&M, ITC, HCL Tech, and Asian Paints closed higher.

Seven stocks have been identified by ETMarkets as currently overbought based on the Relative Strength Index (RSI) readings. These stocks are Hindustan Aeronautics, JSW Steel, Tata Consumer Products, Britannia Industries, Bharat Electronics, UltraTech Cement and Cholamandalam Investment & Finance Company. The respective market caps of these companies are greater than Rs 75,000 crore and they operate across aerospace and defence, steel manufacturing, fast-moving consumer goods, food, defence electronics, cement, and financial sectors.

India's economic growth, which is one of the strongest in Asia, is expected to continue next year, according to James Cheo, CIO for Southeast Asia, Global Private Banking and Wealth at HSBC. This is due to a rebound in consumer demand, a healthier banking sector, and improved earnings outlook, particularly in the banking and IT sectors. Cheo also predicts that digitalisation will continue to bolster spending in the informal economy, and the weaker USD trend will keep the rupee stable, making Indian local currency (LC) government bonds more attractive.

The European Central Bank is expected to raise interest rates again on Thursday, making this the eighth consecutive rise. Although the Eurozone is falling into recession, the Frankfurt bank is determined to continue its fight against inflation, which is still three times above the ECB's 2 per cent target. China's central bank has also cut a key interest rate today and pumped billions into financial markets, as more data showed that the world's second-largest economy was flagging.

Adani Enterprises, Adani Green Energy, Paytm, and Bank of Baroda have made impressive comebacks from their 52-week lows, defying market odds and creating opportunities for potential gains. Adani Enterprises and Adani Green Energy have nearly tripled and almost doubled their values, respectively, while Paytm and Bank of Baroda have shown substantial rebounds. Investors should keep a close watch on these stocks as they continue their phenomenal recoveries, but it is important to conduct thorough research and seek advice before making any investment decisions.

ETMarkets' screener has identified five oversold Indian stocks with an RSI below 30 and market capitalization above Rs 250 crore. The stocks include Fourth Dimension Solutions Ltd., Indian Energy Exchange Ltd., D P Abhushan Ltd., Veranda Learning Solutions Ltd., and Rachana Infrastructure Ltd. Although these companies have faced recent negative returns, investors may find value in exploring these oversold stocks, especially in growing industries such as technology, power, jewelry, education, and infrastructure.

Traders make use of the Supertrend indicator as it gives precise buy or sell signals on a stock. The indicator is easy to use and gives an accurate reading about an ongoing trend. It is constructed with two parameters, namely period and multiplier. The default values used while constructing a superindicator are 10 for average true range or trading period and three for its multiplier.So, here are the 5 banking names wherein the buy signal is generated as the closing value is higher than the SuperTrend metric and also the price is nearing the SuperTrend support zone when SuperTrend value is within 3% of the low price of the respective trading day.

Varun Beverages' shares jumped 7% post its shares turning ex-split in the ratio of 1:1. The record date for determining entitlement of equity shareholders was fixed at June 15. The stock split had been announced by the FMCG major to increase the liquidity of the stock in the market. Varun Beverages reported a 69% YoY surge in profit amounting to INR429 crore for Q4FY21. The company's revenue from operations surged 38% YoY to INR3,952 crore. Analysts are anticipating the company to register double-digit revenue growth momentum due to increasing distribution reach, manufacturing capacity & on-ground execution capabilities.