Shares of the Indian Energy Exchange (IEX) fell 18% in two trading sessions due to the Ministry of Power's directions to initiate a market coupling process. This could make prices uniform across platforms, which could reduce the role of energy exchanges. The government entity will make the price discovery, and the exchanges will only serve as an aggregation platform. Analysts advise investors to avoid the stock until the coupling issue is clarified. Market coupling means that a government entity will make the price discovery based on which power will be dispatched on platforms like IEX.

The S&P 500 ended higher on Friday, led by a rally in Tesla, but missed session highs. The market is closely watching the Federal Reserve's policy meeting and inflation data next week. Tesla shares rose by 4.06%, as General Motors agreed to use the company's Supercharger network. The S&P 500 gained 0.11% to 4,298.86 points, marking an extension of its winning streak to four consecutive weeks. Traders predict 72% chances of the Federal Reserve holding interest rates while consumer prices data on Tuesday will help shape expectations of further rate hikes in July.

Goldman's chief U.S. equity strategist David Kostin said in a note to clients the firm's 2023 earnings per share forecast for the S&P 500 of $224 remains unchanged and assumes a soft landing for the U.S. economy, as the economics team projects only a 25% probability of a recession over the next 12 months.

Life Insurance Corporation of India (LIC) has raised its stake in state-owned steel production firm SAIL by about 2 per cent through an open market acquisition. LIC bought 8.26 crore shares or 2.001 per cent of equity capital at an average price of Rs 66.18 per unit, the insurer said in a regulatory filing

The Securities and Exchange Board of India (SEBI) has cancelled the registration of Emkay Commotrade for giving access to illegal 'paired contracts' on the defunct National Spot Exchange (NSEL). SEBI said it raised doubts on the company's competency to act as a registered securities market intermediary and that the company cannot be called a 'fit and proper person' for holding the certificate of registration. The NSEL's 'paired contracts' trading scheme saw investors incur a loss of INR 5,500 crore ($736.8m). Emkay's clients must withdraw or transfer their securities or funds within the next 15 days.

Shares of Tesla jumped nearly 7% following a partnership between General Motors (GM) and Ford to use Tesla's electric-vehicle charging network, which could make Tesla Superchargers a new industry standard in the US. This move ensures that the country's EV market can access Tesla's North American Charging Standard (NACS), which presents a big win for the rare partnership, making it the primary network in the country. The tie-up will increase the pressure on other automakers to upgrade their networks to work with Tesla's. Tesla's charging network is more widespread and reliable than the alternative combined charging system.

Despite global economic activity slowing down, the absence of any significant financial accidents, robust employment conditions, and stronger balance sheets have aided in withstanding the normalisation cycle better than expected. However, the pressure on demand conditions may continue to rise due to higher nominal yield curves and tightened lending standards. Although corporate earnings have surpassed expectations, inflation will likely remain elevated compared to pre-Covid levels. The worst of the inflation scare may be over, but central banks are unlikely to resort to rate cuts unless there is a threat to financial stability. RBI's proactive stance has supported India's growth momentum, but fiscal deficit run rate is 6%, and pre-emptive loosening can backfire, resulting in higher inflation. Thus, rates may remain higher for longer, and short-term funds may provide healthier accruals without taking significant duration risk.

The deal was executed at a weighted average price of Rs 1,855.64 and Canada Pension fund took home Rs 6,123 crore through the stake sale. As of March quarter, Canada Pension fund holds 4.6% stake. With the sale of the latest stake, the holding of Canada Pension fund came down to 3%.

Equity-linked saving schemes offer tax benefits under Section 80C of the Income Tax Act. Equity mutual funds have a lock-in period of 3 years and gains are taxed at 15% for less than a year. The top five tax-saving mutual funds on the basis of returns for 3 years are Quant Tax Plan (33.04%), BOI AXA Tax Advantage (23.75%), Mirae Asset Tax Saver Fund (20.04%), Canara Robeco Equity Tax Saver (19.84%), and IDFC Tax Advantage (ELSS) (18.89%). For 5 years, the top five funds are Quant Tax Plan (22.50%), BOI AXA Tax Advantage (18.26%), Mirae Asset Tax Saver Fund (18.22%), Canara Robeco Equity Tax Saver (17.26%), and IDFC Tax Advantage (ELSS) (16.24%).

Singapore-based Sion Investment Holdings has sold a nearly 13.7% stake in CMS Info Systems, which has been purchased by Abu Dhabi Investment Authority and Norges Bank, picking up 1.29% and 1.69% of the stake, respectively. Meanwhile, three domestic fund houses – SBI Mutual Fund, 360 One Mutual Fund, and IIFL Mutual Fund – have added stakes in CMS Info Systems. Public stakeholders include mutual funds, which have a 10.02% stake, while foreign investors have a 12.94% stake.

Axis Securities predicts that macroeconomic scenarios will dictate the market in the upcoming months, with rural and domestic-focused themes expected to gain momentum. It has revised the December 2023 Nifty target upwards to 20,200, indicating an upside of 9-10% from the current level. Axis Securities recommended investors maintain liquidity, awaiting the market dips to build a position in quality companies with high earnings visibility. Midcaps are identified as growth sweet spots, while small caps are bottom-up plays. In the year-to-date, both foreign and domestic investors have been net buyers in the Indian equity market.

Post the latest transaction, CPPIB's shareholding has been reduced to 2.68 per cent from 4.34 per cent stake at the end of March.

Canada Pension Plan Investment Board on Friday divested around 1.7 per cent stake in private lender Kotak Mahindra Bank for Rs 6,123 crore through an open market transaction. According to the bulk deal data available with the BSE, Canada Pension Plan Investment Board (CPPIB) offloaded 3.30 crore shares, amounting to a 1.66 per cent stake in Kotak Mahindra Bank

The Dow Jones Industrial Average rose 18.83 points, or 0.06%, at the open to 33,852.44.

Amidst a market downturn on Friday, the benchmark Sensex declined 223 points, closing at 62,625. Surprisingly, despite this decline, nine stocks from the BSE midcap index achieved new 52-week highs. The 52-week high is an important technical indicator for traders and investors, as it reflects the highest price at which a stock has traded over the past year. It serves as a significant measure for assessing a stock's current value and predicting future price trends

Maan Aluminium has approved a 1:2 equity share split, which is intended to increase the stock's liquidity. The Board of the Indian company has also approved a 1:1 bonus issue of equity shares to existing shareholders, subject to approval at the annual general meeting. Bonus shares will be fully paid additional shares and issued to shareholders in proportion to the number of shares they already own, increasing liquidity and lowering the stock's price to make it more affordable to investors. The company produces aluminium for several industries and its share price has nearly tripled investors' wealth in the last year.

The negative trend in the Nifty is indicated by bearish divergences in RSI and MACD, with immediate support placed around the 18450 levels but resistance found at the 18750 levels. The index is retracing its prior rise from 18060 – 18777, but a negative divergence needs to be confirmed before a negative outlook is established. The monthly expiry contract of the 18600 put option indicates traders are confident of a close-by bottom despite the current small profit booking phase, while Nifty's make-or-break support is at 18389.

The National Stock Exchange (NSE) of India has warned investors against individuals collecting funds as Angel One Industry and Zerodha Industry, promising assured returns on investments. These entities are not registered members of the exchange. Exchanges caution investors of unregistered trading firms and advisors who guarantee returns. SEBI has recently taken steps to check illegal practices of advisory in the market, due to the rise of individual financial and investment advisors termed as "finfluencers". Last month, a well-known YouTube finfluencer was ordered to pay settlement and disgorgement fees for violating investment advisor regulations.

Analysts are sceptical about the growth prospects of the insurance sector, despite lucrative valuations. The sector has underperformed the benchmark Nifty by 13% in the past 12 months, leading Macquarie to downgrade HDFC Life, ICICI Prudential Life and SBI Life to "Neutral" from "Outperform". The bank has also cut its FY25E value of new business estimates by 2-6% and target prices by 15-17%. Macquarie has forecast a lower value of new business CAGR at 9-15% for FY23-26E against 16-22% for FY22-25E.

Closing Bell: Sensex falls for 2nd straight day, ends 223 pts lower; Nifty below 18,600; HAL rallies 6%, Voltas drops 3%

The market capitalisation of all listed companies on BSE declined by Rs 73,059 crore to Rs 286.72 lakh crore. The market breadth was skewed in the favour of the bears. About 1,796 stocks declined, 1,739 gained, and 113 remained unchanged on the BSE.

Do you know which were the 5 most loved and least preferred mutual funds in FY 2023? Do you think any mutual fund from your portfolio could be a part of it? Well, let's find it out in today's video. Watch!

Nifty ended FY23 with 11% EPS growth on a high base of 34% growth in FY22. Shifting focus from the Nifty universe to the volatile Nifty Next50 pack, also called Junior Nifty, 15 stocks stole the limelight this season. These are some of the fastest-growing companies of the last financial year, with up to 108% profit growth.

After enjoying four consecutive days of gains, the benchmark index Sensex ended on a negative note on Thursday. Nevertheless, ETMarkets.com has shortlisted ten stocks from the BSE200 index that have demonstrated consistent share price growth over the past five trading sessions. With the exception of a couple of stocks, most of these stocks are trading near their highest point of the past 52 weeks. Over the course of the last five days, these stocks have experienced gains ranging from 3-15%. (Data Source: ACE Equity)According to Trendlyne SWOT analysis, all of these stocks exhibit more strengths than weaknesses, indicating a favourable outlook.

Paytm's shares increased by 5% to reach Rs 809.4 on BSE after global brokerage firms BofA and CLSA revised their ratings upwards on the fintech company. BofA upgraded Paytm to 'Buy' and raised its target to Rs 885, while CLSA maintained its 'Buy' rating and put the target at Rs 850. CLSA predicted a potentially negative impact if the RBI allows First Loss Default Guarantee for non-regulated entities, as Paytm's profitability and business model may suffer. Analysts also noted Paytm's expansion into new businesses, such as lending and insurance, as a driver of bullish outlook.

Greenlam Industries saw a jump of 11% in its shares in Friday's intraday trade on BSE after it announced that it started commercial production at its new Tamil Nadu plant. The plant has the potential to yield an annual revenue of INR 400 crore at full capacity and has an 18.9 million square meters p.a. capacity. Earlier, Greenlam informed of setting up a manufacturing facility for plywood and other products at Tindivanam in Tamil Nadu with INR 125 crore investment. The shares traded up 6.3% on Friday, while the average target price of the stock is INR 393.

Institutional investors such as foreign portfolio investors and mutual funds have increased their stakes in at least 20 Indian stocks in the past three quarters, but only 10 of these investments have yielded double-digit returns in FY23. The stocks that have rewarded the institutional investors include L&T Finance Holdings, Maharashtra Scooters, Arvind Smartspaces, Devyani International, Syngene International, BHEL, Hikal, Mayur Uniquoters, Tata Coffee, and Natco Pharma. Only stocks with a market capitalisation of at least INR 500 crore are included in the study.

First, it was the Ukraine war, which led to logistic issues at some important ports. Second, sudden changes in climatic conditions in China and Pakistan lead to a drop in production of rice. Will this bring an opportunity for rice exporting companies of India and also the retail investors?

Speciality chemical manufacturer Aether Industries' shares rose 7.5% to reach Rs 1,056 ($14.58) during Friday's BSE trade. This was attributed to the firm signing a license agreement with Saudi Aramco Technologies Company. The commercialisation deal for sustainable Converge polyols technology is expected to open the way for Aether's activities in manufacturing and commercialisation of the product series. There is potential revenue worth targeting within the polyol market if Aether attains its objectives and the company has signed an LoI with a US-based oilfield services international in another boost to its commercial sphere.

Tokyo shares surged following positive gains on Wall Street, due to optimism about the US economy and expectations of the Federal Reserve not increasing interest rates next week. The benchmark Nikkei 225 index added 1.97%, ending at 32,265.17, whilst the broader Topix index rose 1.50%, reaching 2,224.32. Many analysts expect the Bank of Japan to maintain its current easy money policy during meetings next week, though they will be monitoring any possible suggestions of future changes. The dollar fetched 139.34 yen in Asian trade, compared to 138.89 yen in New York late Thursday.

The provisions of the budget brought a number of financial services under pressure. However, in the Q4 earning season when IT stocks came under pressure it has been financial service stocks including banks which have been able to help nifty recover. On days when global markets are under pressure and the nifty is showing signs of out performance. A number of times this up move is led by financial service and bank stocks. We take a look at what analysts are saying for select financial service stocks.

First, it was the Ukraine war, which led to logistic issues at some important ports. Second, sudden changes in climatic conditions in China and Pakistan lead to a drop in production of rice. Will this bring an opportunity for rice exporting companies of India and also the retail investors?

According to Jefferies, India's most widely-owned sectors, financials and IT, have shown an inverse relationship nearly 70% of the time in the past 14 years. The reason for this lies in macroeconomic trends; banks tend to outperform during times of favourable macros like stable and strong INR, falling yields and strong growth, whereas IT tends to outperform during weakening rupee, rising yields/inflation, and weaker macros. Jefferies' model portfolio is overweight lending financials by 2 ppt while IT is the largest underweight by 4 ppt.

Kotak Mahindra Bank's shares fell over 1% during Friday's trading session, following a block deal in the counter. The Canada Pension Plan Investment Board was expected to sell 3.3 crore shares, amounting to a 1.6% stake in the private lender, at a price range of Rs 1,792-1,886 per share. The lower end of the floor price is approximately a 5% discount. Foreign investors own a significant stake of 36.7% in the bank, while mutual funds own 10.99% and LIC has about 6.21% stake among other public shareholders.

Shares of Indian Energy Exchange (IEX) fell by 15% to a 52-week low of INR116 ($1.56) on NSE on Friday after the Ministry of Power decided to go ahead with market coupling. An independent third-party will collect buy and sell bids and decide a uniform market price across all exchanges. Brokerage firm Nuvama described this move as a big negative for IEX and recommended a "reduce" rating on the stock with a price target of INR127.

Coromandel International's stock price has formed a strong base above the Rs 840 level, showing a rebound in March 2023 to reclaim its 50 and 200-DMA. The stock largely moved in a range but saw a breakout above Rs 940 in May and climbed above 200-DMA placed at Rs 941. The stock is still down over 12% from its 52-week high of Rs 1,094 recorded on 1st September 2022. According to Technical Analyst Kapil Shah, the stock offers a buying opportunity with a stop loss of Rs 915 and an upside potential of up to Rs 1,000 to 1,050 in the next month.

Brokerage firm CLSA has maintained a buy rating and target price of Rs 850 on Paytm. Motilal Oswal has recommended a buy call on Avenue Supermarts with a target price of Rs 4200. However, Macquarie downgraded HDFC Life to neutral from outperform with a target price of Rs 556, ICICI Prudential Life and SBI Life to neutral from outperform with target prices of Rs 486 and Rs 1306 respectively. The bank remains apprehensive of long-term growth prospects and increasing regulatory risks in insurance companies.

Institutional investors such as foreign portfolio investors and mutual funds have increased their stakes in at least 20 Indian stocks in the past three quarters, but only 10 of these investments have yielded double-digit returns in FY23. The stocks that have rewarded the institutional investors include L&T Finance Holdings, Maharashtra Scooters, Arvind Smartspaces, Devyani International, Syngene International, BHEL, Hikal, Mayur Uniquoters, Tata Coffee, and Natco Pharma. Only stocks with a market capitalisation of at least INR 500 crore are included in the study.

A host of brokerages have initiated coverage on several stocks wherein they see an upside scope of up to 28%. These stocks belong to various industries such as chemicals, microfinance, defence and ceramics. Here is a list of these 6 stocks:

Indian IT firms are struggling to predict their growth trajectory amidst global upheavals and economic uncertainty. Nonetheless, the sector has a history of showing more resilience than the broader Nifty50 in previous crises, according to a report by Nuvama. Nuvama expects the Indian IT sector to deliver handsome returns in the next two to three years, as enterprises need cloudification and digitisation. In identifying 10 stocks, Nuvama's top pick is LTIMindtree. The valuations of the IT services sector have significantly underperformed the broader index since 2022, due to a slowdown in global tech demand.

In the NSE list of stocks with a market cap of over Rs 1000 crore, five stocks crossed their previous 5-year high value at the close on June 8, suggesting bullishness in counters, according to stockedge.com's technical scan data. Take a look.

The stock price of this NBFC has risen sharply by 29% over the past couple of months from the bottom of Rs 6,995 to the recent top of Rs 7,141. Such a steep rise is difficult to sustain and is now showing signs of faltering. The price is losing the momentum and is struggling to sustain above its supply zone.

The Indian equity market opened marginally higher, led by banking and financial stocks, after positive cues from global peers and a day after the Reserve Bank of India kept rates unchanged. The BSE Sensex was trading higher by 117 points or 0.19% while Nifty50 was up 33 points or 0.18%. On the sectoral front, Nifty Consumer Durables surged by 0.67% and Nifty FMCG rose by 0.30%. Meanwhile, the US's decision to push out a rate hike and trade tensions drove Asian shares up but oil prices fell as US sanctions on Iran were expected to be eased.

Sensex rises 100 points, Nifty above 18,650; EKI Energy surges 11%, IEX tanks 10%; Yes Bank, Vodafone Idea, Manappuram Finance are some of the top gainers in the morning trade.

Fifteen companies, including Voltas, Solar Industries and Asian Paints, among others, turned ex-dividend on June 11. These companies had earlier announced the record date for eligibility of shareholders to receive dividends. Stocks of companies trade ex-dividend on or a day before the record date. Moreover, nine other stocks, including Caplin Point Laboratories and Cigniti Technologies, among others, announced dividends of various amounts per share for their shareholders.

Indiabulls Housing Finance and Manappuram Finance are among the stocks in future and options (F&O) ban for trade. India Cements exited the ban after three sessions. The ban can be reinstated if the open interest (OI) surpasses 95% of the market-wide positions limit and ends once it falls below 80%. The two recently banned stocks will still be available in the cash market. The S&P BSE Sensex and Nifty50 broke their four-session gains. Technical analyst Rajesh Bhosale advised that prices may decrease to Rs. 18,500 if profits are further booked.

Nifty futures on the Singapore Exchange traded 36 points, or 0.19 per cent, higher at 18,756.50, signaling that Dalal Street was headed for positive start on Friday. Here's a slew of stocks that will be in focus today for various reasons. Watch.

In the NSE list of stocks with a market cap of over Rs 1000 crore, 10 stocks crossed above their 200 DMA (Daily Moving Averages) on June 08, 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.

Indian markets are expected to consolidate on Friday. The S&P BSE Sensex fell by 300 points while the Nifty50 slipped below 18700 levels. However, India VIX was down by 1.60%, and the volatility was low, comforting the bulls. The potential broader trading range is estimated to be within 18,450 to 18,900 zones, while the immediate trading range is forecasted between 18,550 to 18,800 zones. Various experts have listed different stock options for traders with a short-term trading horizon, including sell targets for TCS and Kotak Mahindra Bank and buy targets for Power Grid, HDFC Bank, Maruti Suzuki, Havells India, ICICI Bank, NTPC, and Tata Chemicals.

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 Maruti Suzuki and HDFC Bank while Nooresh Merani has a buy/sell recommendation on ICICI Bank and NTPC for today's trading session. Check out the targets and stoploss.