The S&P 500's 20% gain from its October 12 closing low shows the start of a new bull market, but there is no set definition or regulatory body that declares one, leading to varied opinions among market participants. While the most commonly accepted definition is a 20% rise from a low, it is open to interpretation. Further, some analysts require a time element to their bear market criteria, necessitating a low to remain intact for at least seven months, to remove the risk of a rapid reversal. Finally, various other viewpoints exist on what constitutes a bull or bear market, with no consensus reached yet.

The S&P 500 has officially entered a bull market, defined as a 20% or more rise from the most recent low. The new bull market began on October 13, 2022, but the stock market's rally is largely due to the US economy not falling into recession despite inflationary fears. The prevailing belief now is that the Federal Reserve will soon stop raising interest rates, but the persistent inflation could change that. Most of the gains for the S&P 500 this year have come from a small group of stocks, sparking concerns over its sustainability and the limited breadth of the rally.

The Futures Long Position Scan revealed Aggressive New Long positions on the counters of 4 Tata Group stocks. This indicates a bullish sentiment in the market, as the average traded and delivered quantity for 5 days along with the cumulative open interest, and the price for the stocks have increased. Therefore, these NSE counters indicate a bullish trend. (Source: StockEdge)

Equity benchmarks, BSE Sensex and Nifty, ended in negative territory after RBI kept the interest rate unchanged. Paytm gained 6%, Nestle was up 4%, while Bajaj Finserv's shares fell nearly 1% on Thursday. Amol Athawale, VP-Technical Research Analyst at Kotak Securities has suggested 740-735 is the level to watch out for Key trades for Paytm while Inox Wind could rally towards 155-160. Bajaj Finserv still has a positive medium-term texture with a sacrosanct support zone of 20-day SMA or 1440 for trend following traders.

Equities across the Asia-Pacific region soared to their highest point since mid-February after an overnight rally on Wall Street, with investors betting that the US Federal Reserve would not raise rates this coming week. The positive speculation was supported by falls in Australian and Japanese bond yields in line with those in US Treasury bonds, and the US dollar remained subdued during early Asian trading. MSCI’s broadest index of Asia-Pacific shares rose by 0.6%, boosted by a 1.66% jump in Japan’s Nikkei. However, traders’ fears over future rate hikes were not eliminated, with the odds still holding at one in four for a rate increase on 14 June.

US stocks closed higher on Thursday amid the likelihood of a stable economy. The CBOE Volatility index, described as Wall Street's fear gauge, reportedly dropped to its lowest level since the pandemic. Traders are expecting the US central bank's interest rate to stay at 5%-5.25% during its monetary policy meeting next week but see a rate hike in July. Computer expert Inc gained 2.49% after Wells Fargo gave the company an "overweight" rating, while Apple, Nvidia and Tesla rose between 1.55% and 4.58%. Meanwhile, GameStop fell 17.89% after the video-game retailer ousted its CEO and posted a losses above expectations.

"FACT stock has given a pole and flag pattern breakout on the daily frame and took support at its 50-DEMA. With fertilizer stocks in season, this stock is likely to get support from the entire sector," Shivangi Sarda, Analyst, Derivatives and Technical Research, Motilal Oswal Financial Services Ltd, said.

Canada Pension Fund will likely sell partial stake in private lender Kotak Mahindra Bank through block deals today, according to reports.

“We have received comments from stakeholders which are being evaluated. Some more work is to be done. At this point of time it will not be correct to infer that (June) 30th will be the date when it will be launched,” deputy governor M Rajeshwar Rao, who is in charge of regulations said.

Addressing media after the monetary policy announcement on Thursday wherein the central bank has for the second time in a row left the key policy rates unchanged, governor Shaktikanta Das said, "The RBI is not planning to issue any separate guidelines to regulate financial market influencers since the Sebi is already doing so".

The Reserve Bank of India has kept interest rates unchanged for the second consecutive meeting of the Monetary Policy Committee, with the repo rate remaining at 6.5%. Governor Shaktikanta Das suggested that the real interest rate meant a cut in policy rates was possible as the interest rate cycle may have peaked. The inflation target mandate, a monetary policy objective aimed at controlling the rate of price increases, emerged in 2016 after years of price increases led to negative real interest rates and spawned financial instability.

The Bank Nifty snapped its four-day winning streak to slip below 44,000. The gauge of top banking stocks settled at 43,995.25, down 277.05 points or 0.63% from the previous close.

One reason investors buy the broad market is to diversify the risk of owning too few stocks. But with five of them dominating the S&P 500, some investors may be wondering if buying a broad market index is too dicey

The Reserve Bank of India (RBI) has implemented new regulations governing one-time settlements (OTS), simplifying instructions across all regulated entities. Under the guidelines, the RBI calls for regulated entities to establish board-approved policies to set out the procedure, precedent and a graded framework for staff accountability. The authority responsible for settling must be at least one level higher than the body responsible for sanctioning the loan, and no approval will go to an official that was part of the loan sanctioning process.

Prior to this, existing guidelines prescribed prudential limits for outstanding borrowing in call and notice money markets for scheduled commercial banks.

All entities regulated by the central bank will have to ensure invocation of default guarantees within 120 days of a loan falling overdue, guidelines issued Thursday by the central bank mandated.

The stock recorded a massive move of over 6% on 6th June, but the momentum fizzled out soon after. It led to a breakout from the Pole and Flag pattern on the daily charts. The stock took support above the 50-DMA earlier in June and in May 2023, suggesting that there is a strong base around those levels.

Indian shares snapped a four-day winning streak on Thursday, weighed by auto and consumer stocks after the Reserve Bank of India pushed bets of a rate cut further ahead, with inflation seen to be staying above its target. The blue-chip Nifty 50 index closed 0.49% lower at 18,634.55, while the benchmark S&P BSE Sensex fell 0.47% to 62,848.64.“Appearance of bearish candle ensures immediate hurdle near 18800 zone, while sustenance below for the same could again lead consolidation with immediate support seen at 18500. The ideal approach remains to focus on stocks specific action,” Amit Trivedi, CMT, Technical Analyst - Institutional Equities, YES SECURITIES, said.Here are stock recommendations for Friday:

The Securities and Exchange Board of India (Sebi) will digitise processing of investors’ service requests and complaints in two phases to provide a mechanism for services and complaints through online mode by registrars to an issue and transfer agents (RTAs). The digitisation will provide benefits, including a database for service requests and complaints, according to Sebi. In the first phase, all RTAs servicing listed firms will have to display a basic website having detailed service request procedures and FAQs. In the second phase, a common website will be operated by qualified RTAs from July 1, 2022.

The Fund will sell about 3.3 crore shares or a 1.6% stake in the bank at a price range of Rs 1,792-1,886. The lower end of the floor price is about a 5% discount.

Hindustan Aeronautics Ltd (HAL) is considering a sub-division of equity shares to increase liquidity in the stock market, according to a filing. As of Thursday, HAL shares had hit a 52-week high after gaining 14% in the past five days. Analysts are optimistic that the strong order book and high revenue growth potential will help the stock rise further. Foreign institutional and mutual fund investors also seem to agree, as they have steadily increased their holdings for the past four quarters. Jatin Gohil, a technical and derivative research analyst at Reliance Securities, said the stock could move towards its channel breakout point of Rs 3,800 in the short to medium term.

The Dow Jones Industrial Average fell 8.04 points, or 0.02%, at the open to 33,656.98.

Eicher Motors, the maker of Royal Enfield (RE) bikes, may witness limited upside due to rising competition in the premium bike segment. Bajaj Auto and Hero MotoCorp are launching new premium bike models in the 250cc and above segment in the coming months, adding 20% to the current premium bike market. Competition may be stiffer this time as Bajaj and Hero enjoy significant brand recognition across India. Additionally, affordability issues and muted performance in certain states may continue to impact the demand. RE has planned to introduce new models to counter emerging competition, and its future volume growth will depend on its strategy's success.

On Thursday, the benchmark Sensex cracked 295 points to close at 62,849. Despite the overall market slide, the BSE healthcare index six stocks reached new highs in the past 52 weeks. This achievement holds considerable significance for certain traders and investors, as it serves as a crucial technical indicator for evaluating the present value of a stock and predicting future price trends. Essentially, it represents the highest price at which a stock has been traded within the previous 12 months.

Nifty formed a downside reversal pattern on Thursday with immediate support levels at 18,580 and 18,530 zones, establishing a broader trading range of 18,450 to 18,900 zones, according to option data. Holding above 18,666 could spur Nifty’s up move towards 18,786 and 18,888 zones. Senior technical analyst Rupak De says Nifty maintaining 18600 supports the trend staying sideways. Technical research analyst Nagaraj Shetti expects a higher bottom of the sequence in the short term, finding cluster support around 18,560-18,450 levels. Meanwhile, Jatin Gedia says the crucial support zone is placed at 18,530 – 18,500 with today's high of 18,778 – 18,800 acting as an immediate hurdle.

L&T Finance Holdings has recommended a final dividend of Rs 2 per equity share for FY 2022-23 to its members, which if approved, will be credited within 30 days from the date of the annual general meeting. The record date for the dividend will be intimated later. Shares will trade ex-dividend the day or a day before the record date. The non-banking financial company reported a 47% rise in net profit for Q4 2020 when compared to the same period last year. The assets under management dropped to Rs 80,893 crore from Rs 88,341 crore in March 2020 because of a reduction in wholesale business.

Stocks that were in focus included names like Tata Tele, which rose nearly 15%, Paytm or One 97 Communications, which closed with gains of over 6%, and Alembic Pharma which rose more than 5% with strong volumes on Thursday.

The Reserve Bank of India (RBI) has kept interest rates on hold and maintained its stance to mitigate inflationary risks, at its latest monetary policy meeting. India's GDP growth forecast remained unchanged at 6.5%, with a marginal cut in CPI inflation from 5.2% to 5.1%. While some expected a change in the policy stance following the sharp fall in CPI inflation to 4.7% in April 2023, RBI MPC chose a wait-and-watch approach, conscious of global geopolitical uncertainty and potential El-Nino disruption to food inflation. The debt market outlook remains positive as rate easing expectations build up for the end of FY2024 locally and globally.

Zomato's stocks hit a 52-week high and rose by 4% in the last five sessions, with shares trading at Rs 76 on NSE. The company has recovered its losses incurred post IPO and narrowed its losses to Rs 188 crore from Rs 360 crore YoY. Both Goldman Sachs and Emkay have recommended a 'Buy' view on the stock post-results. Swastika Investmart's Senior Technical Analyst, Pravesh Gour said long-term investors can expect a rally towards Rs 100 if the stock sustains above Rs 75-76.

India's five largest audit firms dominated the audits of Nifty500 companies in FY23, handling almost two out of every three audits. The Indian Big 5 audit firms managed 551 assignments of the 1,869 companies whose equity shares were listed on NSE, accounting for 29.48% of the total, while the top 10 audit firms accounted for 38%. Deloitte led with 19% of the market capitalisation of the companies they audited with KPMG at 17% and EY at 15%. Auditor resignations dropped from 57 in FY22 to 16 in FY23.

The 30-share BSE benchmark Sensex ended 294 points or 0.47% lower to settle at 62,848. The broader NSE Nifty dropped 92 points or 0.49% to end at 18,634.

Foreign investors have increased the inflow of equity to India over the past two months, with $8.4bn flowing in. This compares to net outflows in the previous two financial years. This shift has helped the Indian indices gain almost 8% in the current financial year, leaving them 200 points away from a record high. Professionals believe this is due to what they call the "3G" factor of India: better growth, improved governance and a greater commitment to the environment. As a result, FPIs are likely to keep considering these factors when allocating funds to the Indian market.

Closing Bell: Sensex snaps 4-day winning streak, falls 294 pts after RBI policy outcome; Nifty below 18,650

The Reserve Bank of India (RBI) has reiterated its policy stance of focusing on withdrawal of accommodation and inflation control while supporting growth. The RBI Governor highlighted positive macro fundamentals in India, despite inflation being projected to be above the target. The Monetary Policy Committee (MPC) has maintained its growth projection for FY2024 at 6.5%, with quarter projections adjusted slightly. An extended pause on rate hikes is expected, with the focus being on bringing down CPI inflation to the 4% target. The liquidity scenario has improved after the withdrawal of INR2,000 notes from circulation.

Infosys, the Indian information-technology bellwether, is experiencing its highest rate of "sell" ratings since 2017 due to recession concerns amid India's economy. Seven analysts downgraded the stock to a "sell" in the last month due to lower IT spending concerns by US lenders. Infosys's slow sales forecast for the current financial year also added to the negative news flow. Despite cheaper valuations and US data points, the shares are now trading at around 20 times forward earnings estimates, leaving 62% of the 47 firms tracking Infosys still having a buy rating on the stock.

Benchmark Sensex has shown positive performance over the past three months, with an overall gain of approximately 5%. While it has been a stable performer, investors may be looking for consistent performers who can capitalize on this upward trend.In this regard, ETMarkets.com has identified 10 stocks from the BSE universe that have consistently achieved gains exceeding 10% in each of the last three months. Remarkably, these stocks have surged anywhere between 40-90% in total during this three-month period. Our selection process focused solely on companies with a market capitalization exceeding Rs 1000 crore. (Data source: ACE Equity)Notably, six out of the ten stocks possess a lower TTM P/E ratio compared to their respective industry P/E ratios. Additionally, the majority of these stocks exhibit more strengths than weaknesses, and most companies have experienced an improvement in annual profits over the past two fiscal years, according to Trendlyne's analysis.

India's one-year OIS rate rate jumped eight basis points to 6.64%, the highest since April 6, while the five-year swap rate jumped 13 basis points to 6.15%, the highest since April 19.

The government spending on infrastructure projects, especially on roads has remained at elevated levels for many years, this had a trickle down effect on many parts of the economy and specially companies which are ET screener powered by Refinitiv’s Stock Report Plus lists down stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy".

The Indian economy relies heavily on the Southwest monsoon since the country gets 75% of its rainfall during this period. A good or bad monsoon season can have a direct impact on the rural income and overall economic growth of the country. Agricultural contributions account for almost 20% of the country's GDP, while nearly half of India's population depends on farm-based livelihood. However, historical trends suggest that the equity market does not react linearly to the outcome of the monsoon, and a tepid forecast tends to work well for the IMD.

Aurobindo Pharma's stock prices have surged by approximately 11% in one month to reach a fresh 52-week high in June 2023. Analysts suggest that the stock may continue to rise and recommend short-term traders to purchase the stock while expecting a target of Rs 890 levels in the next six months. The stock has formed a bullish candlestick pattern on the monthly charts and the weekly scale indicates that it has recovered quickly from the support level. The Relative Strength Index (RSI) is also above 70, suggesting that a pullback might occur.

Inox Wind shares rose by almost 6% to reach Rs 151 after receiving a contract from ABEnergia for a 100 MW wind power plant. The order which forms part of ABEnergia's larger hybrid capacity for its C&I customers will feature the installation of the company's latest new-generation 3.3 MW wind turbine generators at Dayapar, in the Kutch district of Gujarat. The project is set to be commissioned by 2024, whilst Inox Wind will also provide multi-year operation and maintenance services for the plant under the terms of the agreement.

The government spending on infrastructure projects, especially on roads has remained at elevated levels for many years, this had a trickle down effect on many parts of the economy and specially companies which are ET screener powered by Refinitiv’s Stock Report Plus lists down stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy".

The Reserve Bank of India maintained the policy repo rate at 6.5 per cent. As per experts the easing of retail inflation in April and the potential for further decline, indicate the effectiveness of previous policy rate actions. "In a very challenging global environment, RBI navigated the Indian economy, reminds me of Sunil Gavaskar", said Kotak AMC MD Nilesh Shah while talking to ET Now. Watch!

The Reserve Bank of India (RBI) has kept its rates on hold for a second consecutive month despite expectations for a cut. The decision was attributed to concerns over "upside risks" including the potential impact of El Nino on India's monsoon season and continued monetary tightening by central banks globally. Inflation remains higher than the 4% target and last week Canada's central bank made an unexpected rate rise. Some market participants noted the pause signalled that the wait for rate cuts could be an extended one.

SpiceJet is set to receive up to 20 engines on lease from FTAI Aviation as part of its revitalisation programme. The deal will also include maintenance services. The airline said the partnership programme would reduce maintenance expenses and minimise aircraft downtime, and would be critical for providing service on new routes. The first set of engines will be used in reactivating the airline's fleet over the next few months.

Whether it is Nifty, Banknifty or Nifty Auto, all the indices and the market breadth are indicating that bulls are in control of street. The corrections are short lived. Even when there is a correction and volatility the bias of that volatility is still bullish, as indicated by an attempt of nifty to move upward by the end of the trading session. These stocks have seen their score improvement and have moved out of negative territory over the last one month.ET screener powered by Refinitiv’s Stock Report Plus applies different algorithms & filters to all BSE and NSE stocks, and lists stocks which fulfill the various criteria as specified into the algorithms & filters to find those which might help navigate the stock market.

Nilesh Shah, MD of Kotak Mahindra Asset Management Company, compared RBI Governor Shaktikanta Das to opening batsman Sunil Gavaskar for standing without fear in front of a challenging global environment. The RBI is balancing growth and inflation, said Shah. The Indian market would be pleasantly surprised if GDP growth for FY24 came in line with RBI expectations of 6.5%, he added. Meanwhile, at the three-day meeting of RBI’s monetary policy committee, the decision was unanimously made to keep the policy rate unchanged at 6.50%.

Dalal Street's top stock picker, Saurabh Mukherjea, is advocating a 50:50 Indo-American portfolio that can generate significant risk-adjusted returns compared to a standalone portfolio built around either country's stock market. Mukherjea said that diversification, currency effects and asset-liability matching are the three reasons why investors should have an Indo-American portfolio. Over the past 20 years, a 50:50 Indo-American portfolio would have had a better risk-adjusted return than a standalone portfolio from either country.

RSI or the relative strength index computes the ratio of the recent upward traction in the stock price movement relative to its absolute price movement. The RSI value ranges between 0 and 100. Herein the StockEdge data takes into consideration the time period of 14 days to compute RSI. This is a bullish signal as the RSI has crossed above 50 from below.