Equity mutual funds with exposure to IT stocks have seen returns of 15-20% in the last five years. Five technology funds are recommended: ICICI Prudential Technology, Tata Digital India, Aditya Birla Sun Life Digital India, SBI Technology Opportunities, and Franklin India Technology. Each has varying net asset values and trailing returns over different time periods, as well as assets under management, expense ratios, and minimum investment requirements. Despite concerns over recession and cuts in spending, technology investments appear to have weathered the storm.

Over half of equity investors in India are from non-metro areas, according to a study by equity investment advisory firm Research and Ranking. Of the 2,000 respondents, around 50% of investors had not experienced a complete business cycle, suggesting potential limited exposure to market fluctuations, but around 60% adopted a long-term investing approach. The survey also found that 57% of investors yearned to invest a lump sum in equity, while 43% preferred a more measured approach via investing through systematic investment plans.

Radhagobind Commercial will trade ex-split on June 10, after announcing its shares will split in a ratio of 1:10. The company's operations include trading in fabrics and textiles material. The stock split is expected to enhance the liquidity of shares in the market. The stock price will be adjusted according to the split ratio. Meanwhile, three other firms are commencing ex-dividend trading on June 8: Bikaji Foods International is offering Rs 0.75 per equity share, Ponni Sugars (Erode) has declared a dividend of Rs 6.5 per equity share, and Qgo Finance is offering Rs 0.1 per share dividend.

Urban Enviro Waste Management is planning to go public with an IPO on June 12. The company provides solid waste management services, including waste collection, transportation, segregation, and processing across several Indian states. The IPO consists of the fresh issue of 9.2 lakh equity shares and a face value of Rs 10 each, aggregating Rs 9.2 crore, at a price of Rs 100 per share. The net proceeds of the issue will be used for repayment of secured borrowings, working capital requirements, and other general corporate purposes. The IPO will be listed on the NSE Emerge platform.

The Nifty50, the benchmark index of the National Stock Exchange (NSE) of India, broke through the critical resistance level of 18,700 points and even closed higher at 18,726.40 points on Wednesday, signalling an attempt at an uptrend. Analysts predict that the Nifty could reach an all-time-high of over 18,889 in the short term, with immediate support at 18,650 and resistance around 18,900. The Nifty has already broken out of a sideways pattern, which positions it for a positive move ahead of the expected RBI rate decision tomorrow.

Indian stocks continued to rise as the S&P BSE Sensex gained over 350 points on Wednesday. The Nifty50 closed above 18700 levels, scaling to its first high since December 5, 2022. Telecom, utilities, metals, and capital goods sectors showed positive buying trends. Stocks that performed well include Suzlon Energy, Aster DM Healthcare, and Tata Motors - posting either a fresh 52-week high or a volume or price breakout.

A reshuffle in the FTSE index on June 16 is expected to bring a net inflow of $150-200m into Indian equities, according to Nuvama Institutional Equities. Changes to the index's individual stocks are likely to impact different counters in different ways. As a result of the reshuffle, Adani Enterprises may get inflows of $71m while Infosys, HCL Tech and TCS may experience outflows of about $34m, $15m and $8m respectively. Meanwhile, Sensex is to be reshuffled from June 19.

India's Nifty has gained 7.4% on a quarter-to-date basis, with auto stocks leading the upward momentum followed by IT, FMCG and financial stocks. Jefferies has identified 25 stocks in which investors should buy, having predicted that large-cap banking and financial services stocks will be most bullish. The list includes Bajaj Finance, HDFC Life, ICICI Bank, IndusInd, L&T, Reliance Industries, Sun Pharma, Tata Motors and Zomato. Jefferies also offered advice on stocks investors should avoid, with Wipro, Tech Mahindra, Cummins, Asian Paints, Gujarat Gas and Tata Power categorized as 'strong underperforming ideas'.

"Suzlon Group has crossed the 20GW wind energy installations milestone through 12,467 wind turbines installed across 17 countries, spanning six continents, solidifying Suzlon's position as a significant player in the global wind energy landscape," a company statement said.

Closing Bell: Sensex rallies 350 pts, tops 63K ahead of RBI outcome; Nifty above 18,700; Vi surges 9%, Adani Power 5%

India's Nifty has gained 7.4% on a quarter-to-date basis, with auto stocks leading the upward momentum followed by IT, FMCG and financial stocks. Jefferies has identified 25 stocks in which investors should buy, having predicted that large-cap banking and financial services stocks will be most bullish. The list includes Bajaj Finance, HDFC Life, ICICI Bank, IndusInd, L&T, Reliance Industries, Sun Pharma, Tata Motors and Zomato. Jefferies also offered advice on stocks investors should avoid, with Wipro, Tech Mahindra, Cummins, Asian Paints, Gujarat Gas and Tata Power categorized as 'strong underperforming ideas'.

From the Sensex pack, Nestle, Tata Steel, Tata Motors were the top performer, rising 2-3%. Power Grid, Bharti Airtel, L&T, NTPC, and TCS also opened with gains. On the flip side only, Kotak Bank, Maruti, Bajaj Finance, ICICI Bank, and M&M closed in the red.

A reshuffle in the FTSE index on June 16 is expected to bring a net inflow of $150-200m into Indian equities, according to Nuvama Institutional Equities. Changes to the index's individual stocks are likely to impact different counters in different ways. As a result of the reshuffle, Adani Enterprises may get inflows of $71m while Infosys, HCL Tech and TCS may experience outflows of about $34m, $15m and $8m respectively. Meanwhile, Sensex is to be reshuffled from June 19.

Shares of Indian consumer goods companies surged on Wednesday after a favourable monsoon forecast from the Indian meteorological department (IMD). The Nifty FMCG index rose 0.93% in afternoon trade led by UBL and Britannia with Tata Consumer Products and Nestle also making significant gains. Rural demand, which has been muted for a few quarters, is critical for FMCG companies and a positive monsoon is essential for its revival. HDFC Securities expects a normalisation of volume and value growth with an expected rebound for rural demand.

In the recent quarter, smallcap stocks favored by retail investors have witnessed a substantial surge, as per ETMarkets.com analysis. Retail investors have consistently increased their stakes over the past three quarters in 139 smallcaps. Within a span of just over two months (March 31, 2023, to June 6, 2023), nearly 100 stocks from this list have yielded a double-digit return for their investors. Among these, we have identified nine stocks that have delivered returns ranging from 55% to 170% in the recent quarter. (Data Source: ACE Equity)Notably, Trendlyne's SWOT analysis reveals that excluding Future Consumer, these stocks exhibit more strengths than weaknesses.

Analysts are forecasting a comeback of power utilities stocks. Though in some cases there are apprehensions about the lower than normal monsoon playing a spoilsport. On the list are power producers and power distributors. For the purpose of this report, we have selected stocks wherein the count of analysts is at least 2 and the average stock report plus score is a minimum of 6. The list is based on upside estimated by the analysts, with the highest potential stock coming on the top of the list.

While immense wealth can be created through concentration, it is not a rule and diversifying investments is the best way to protect and grow money. Equity, bonds, precious metals, commodities, real estate, currency, and alternatives are the seven asset classes that can help diversify portfolios. Mutual funds offer different funds, providing an easy way to get exposure to many of these asset classes. The allocation of these asset classes should depend on an investor's goals, time horizon, and risk appetite. Owning a few asset classes like equity, fixed income mutual funds, gold/silver, and real estate/REIT offers adequate diversification.

Axis Bank has achieved a market cap of INR3tn ($40bn) as its stock reached a 52-week high of INR981. The stock has yielded returns of 47% over the last year and 142% over three years. For Q1 of FY2021/22, the bank made a net profit of INR6,625 crore, growing 61% YoY, and the bank's advances increased 19% YoY to INR8.45tn. Over 37 analysts recommend buying shares; the bank is currently trading at a rate that suggests an upside potential of 13% to INR1,106.

MACD or Moving average convergence divergence in stock market parlance is a trend-suggestive momentum indicator. The metric shows the relationship between 2 moving averages of prices. (StockEdge).For calculating MACD, 26-day EMA is subtracted from 12-day EMA.Furthermore, a 9-day EMA of the MACD, called the signal line is plotted on the top of the MACD, which provides the likely trading strategy in a stock i.e. a buy or a sell.

Japan's Nikkei index fell 1.82% to close at 31,913.74, posting its sharpest daily drop since March 14. Concerns about a rally and sell-offs ahead of the fixing of special quotation prices added to the caution of investors. However, the index rose as much as 0.6% in early trade, tracking Wall Street higher overnight. Chip-related stocks led the declines while Sharp Corp jumped 3.20%. Of the Nikkei components, 26 stocks rose and 197 fell, while two were flat.

Satin Creditcare Network, a microfinance firm, has seen a breakout from the Cup & Handle pattern on the daily charts, allowing for a potential move to fresh 52-week highs. It rose more than 5% in a week and over 30% in the last three months, as it broke through stiff resistance and hit a 52-week high in early June 2022. Analysts recommend that as long as it holds on to Rs150, bulls will remain in control, and expect prices to potentially touch Rs230 in the next 2-3 months.

Torrent Power shares surged by more than 9% after it signed a MoU with the Government of Maharashtra for the development of pumped storage hydro projects worth INR27,000 crore ($3.7bn). The three projects will have a total capacity of 5.7 GW and will be built over five years, providing a minimum of six hours of energy storage on a daily basis. The stock has been performing well, with gains of INR105 per share or 19% over the past five trading sessions alone.

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

The Indian equity markets have been rangebound so far in June amid mixed global cues. Meanwhile, Stoxbox is bullish on the banking, financial and auto sectors. The brokerage has given a rationale on its 7 techno funda stock picks that can rally up to 14%.

As the nifty continues to move upward, more small caps stocks are joining the party. Even on days when select stocks are bringing nifty under pressure, breadth of small cap seems to be holding out. ET screener powered by Refinitiv’s Stock Report Plus lists down stocks from small cap space with high upside potential over the next 12 months, having an average recommendation rating of “Buy” or "Strong Buy" and also meeting parameters like net margins and return on equity.

The Reserve Bank of India (RBI) is expected to maintain interest rates during its three-day meeting which started on 4 June. Favourable economic conditions, including 4.7% consumer price index-based inflation, easing crude oil prices and 6.1% GDP growth are credited with the rise. The positive data has resulted in widespread optimism among investors that interest rates will not change during the upcoming policy meeting, but Santosh Meena, head of research for Swastika Investmart, argues that the Nifty Bank index is showing signs of exhaustion and may experience profit-taking and a downturn.

Indian conglomerate Adani Group is still struggling to recover from short seller Hindenburg Research’s report on its financial practices in January. While two of Adani's 10 stocks have rebounded, the company has lost over $100bn since the report’s release, as investors reassess the firm's valuation. Abhay Agarwal, founder and fund manager at Piper Serica Advisors, said that the concerns over governance are unlikely to erase all losses in the next three, six or even 12 months. The median decline over four months for 10 Adani stocks is 23%, compared to 19% for shares of other firms targeted by Hindenburg since 2020.

he list also contains a count of analysts evaluating each banking stock for the next 12 months.

Adani Power stocks rose over 5% after the Bombay Stock Exchange increased the circuit limit of the stock from 5% to 20%. Adani Green Energy, Adani Transmission, and Adani Wilmar are among other stocks whose circuit limits have been revised to 10%. The move will likely increase investor participation and boost the Adani Group's market presence. The Group has also repaid $2.65bn of loans recently, boosting investor confidence days after it dismissed fraud allegations made by a US-based short seller.

VA Tech Wabag has received an order worth INR420 crore ($56m) to design, build and operate a water treatment plant in Maharashtra for the City and Industrial Development Corporation of Maharashtra. The plant will process up to 270 million litres of water per day from the Hetwane dam and serve Navi Mumbai's future water requirements. The contract's scope includes design, engineering, supply, construction, installation and commissioning of the plant and operations for 15 years following completion. The Water Treatment Plant will use chlorination and, high-rate clarifiers for the removal of high-suspended solids along with rapid gravity sand filters.

Coal India shares gained following FTSE's announcement that it has increased the free float of the state miner after an offer for sale, which may result in an inflow of $18.5m, according to Nuvama. An additional 6.6 million shares are available for investors, equivalent to 0.7 days' average daily trading. The two-day offer-for-sale, which ran to 1 June, was expected to raise INR42bn ($569.5m) for the government.

Morgan Stanley has maintained an overweight rating on JSW Steel, SBI, Sun Pharma, and Nykaa, while initiating an equal-weight rating on Eicher Motors. The brokerage expects JSW Steel to reach a target price of Rs 580, with a reaffirmed volume guidance of 24.2mt, and sees a steady loan growth of 12-14% for SBI in FY24. Morgan Stanley also expects Sun Pharma to record a high single-digit growth for FY24, with a target price of Rs 1170, and sees Nykaa adding 50 new stores in FY24, with higher gross margins in the fashion segment.

The Rs 607 crore-initial public offering of IKIO Lighting was fully subscribed within five hours of opening on Day 1, led by heavy bidding from retail investors and non-institutional investors. The IPO closes on June 8 and investors can bid for 52 shares in one lot, where one share is being offered at a range of Rs 270-285. Here's analysts' take on the IPO.

Indian equity markets opened higher on Wednesday on hopes of an interest rate pause by major central banks and the Reserve Bank of India's upcoming monetary policy decision. Various sectors such as IT, banking, financial, auto, media, metal, pharma, healthcare and consumer durables witnessed gains. Torrent Power surged 9% due to its commitment to invest INR 27,000 crore in pumped storage hydro projects.

In the Nifty200, nine stocks crossed their previous 5-year high value at the close on June 6, suggesting bullishness in counters, according to stockedge.com's technical scan data. Take a look.

The S&P BSE Sensex and Nifty50 are expected to consolidate following positive global cues, as India VIX rises by 2.15% from 11.12 to 11.38. Maximum call OI is at 18600 with maximum put OI at 18500, causing a broader trading range between 18300 and 18800 and an immediate range between 18450 and 18700 zones. Nifty is holding above 18580 zones for an up move towards 18666 and 18750 zones, with downside support at 18480 and 18442 zones. Stocks such as HPCL, RCF and Jindal Steel are recommended for trading with a short-term horizon.

On Tuesday's Futures Long Position scans, it was found that investors holding long positions in some counters have decided to exit. In Aggressive Long Cover, cumulative open interest and price of stocks have decreased whereas their average traded and delivered quantity for 5 days have increased. So, here are the stocks that witnessed such a positioning. (Source: StockEdge)

Sensex rises 200 points, Nifty above 18,650; Adani stocks gain up to 3%; Rail Vikas Nigam, Ircon International, YES Bank are some of the other gainers in morning trade.

Foreign institutional investors (FIIs) have spent nearly Rs 44,000 crore on Indian stocks since March, with more than a third of that amount used to purchase banks and other financial stocks, according to NSDL data. FIIs are overweighting financial services 6.73% compared with the MSCI India Index. In comparison, the index has an overweight stance averaging 7.83% over the past six months. The FIIs’ overweight positioning in the sector has decreased by 100 bps over the last fortnight, primarily due to the weightage of banks in MSCI Index increasing from 13.18% to 14.14%.

In the Nifty500 pack, eight stocks crossed above their 200 DMA (Daily Moving Averages) on June 6, 2023, according to stockedge.com's technical scan data. The 200-day daily moving average (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:

Bearish reversal scan on the candlestick screener can help in ascertaining stocks where the trend can change downward from an uptrend zone. So, here are 4 stocks (m-cap Rs 10,000 crore and above) that have established a Shooting Star pattern and signal bearish reversal. (Source: StockEdge)

Three stocks, Indiabulls Housing Finance, Manappuram Finance, and India Cements, have been put under the Future & Options (F&O) ban for trade on June 7. The ban period occurs when open interest (OI) exceeds 95% of the market-wide position limit. For traders in indices, there is no such ban. Indian frontline indices have seen minor gains after a period of sideways movement. The Nifty50 is buoyed by a global easing of inflation and high optimism from key players, even after an underwhelming earning season. Upcoming monetary policy announcements suggest a potential rate cut.

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 Grasim and Aurobindo Pharma while Nooresh Merani has a buy/sell recommendation on ACC and Hero Moto for today's trading session. Check out the targets and stoploss.

On the candlestick screener, a bullish reversal pattern helps identify stocks that can move upwards from a downtrend. Here are 6 stocks that have established a bullish engulfing pattern on Tuesday and hint at bullish reversal in the future. (Source: StockEdge)

Tata Power, Marksans Pharma, Optiemus Infracom, Seshasayee Paper and Boards, and Uniparts India stocks have turned ex-dividend on Wednesday. Tata Power announced a dividend of Rs 2 per share while Marksans Pharma declared Re 0.5 per share dividend. Optiemus Infracom approved a dividend of Rs 1.5 per share and Seshasayee Paper and Boards declared a dividend of Rs 6 per share, which is 300% of the face value of the share. Similarly, Uniparts India's board approved a dividend of Rs 6 per share. Shares of companies trade ex-dividend on the record date or a day before, and the stock does not carry the value of the next dividend payment.

In the NSE list of stocks, 10 stocks with a market cap of over Rs 1000 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 June 06.

The stock price of this company peaked in September and has been sliding thereafter, till it bottomed out in March. Now the price has closed just above a trendline resistance after forming a higher low. The candle formed is a bullish Marubozu. The volume has shot up in the breakout candle, which is supportive of the breakout.

Asian-Pacific stock markets rose sharply due to positive sentiment from expected stimulus from China. MSCI's broadest index went up by 0.7%. Meanwhile, China's benchmark equity index increased 0.3%, and Hong Kong's Hang Seng index added 1.2%. In contrast, Japan's Nikkei dropped 1.1%. The US S&P 500 ended higher on Tuesday, supported by strengthening bets that the Federal Reserve would hold interest rates steady at its policy meeting next week. Oil prices stabilized after Saudi Arabia pledged to deepen output cuts, offsetting demand concerns due to slow global economic growth. The gold price was slightly higher, trading at $1,965.19 per ounce.

Nifty futures on the Singapore Exchange traded 40.5 points, or 0.22 per cent, higher at 18,719.50, signaling that Dalal Street was headed for positive start on Wednesday. Here's a slew of stocks that will be in focus today for various reasons. Watch.