Chris Wood, chief analyst at Jefferies, has expressed confidence in the re-election of the BJP government, led by Prime Minister Modi, in the 2024 Indian polls. Wood believes Modi has achieved a "phenomenal transformation" of physical infrastructure, leading to improved capital returns. Though there are concerns over the BJP's declining majority and its recent loss in the Karnataka elections, Wood argues that national-level support is driven by Modi's dramatic reforms. The expert praised India's direct benefit transfer (DBT) scheme, which has significantly reduced in welfare leakages and gained support from the urban and rural poor.

Under the two terms of the Narendra Modi-led government, Dalal Street investors had a good time despite implementing demonetization, GST, and the COVID-19 pandemic. The Nifty 50 has doubled in value in 9 years, with foreign and domestic institutional investors pouring in a net of $49.21 billion and ₹7 lakh crore, respectively. Post-pandemic, Indian equity markets increased significantly, making it one of the best-performing emerging markets in the MSCI index. The IT sector gave the best returns to the investors, followed by the financial services and FMCG sectors. Investors remain bullish on India due to its positive macro side improvement and stability.

India is set to see at least four new Real Estate Investment Trusts (REITs) listed on the stock exchange between the second half of 2021 and early 2025, if the performance of the stock market stays consistent, according to Anshuman Magazine, head of CBRE India. The introduction of REITs has been a success in India, allowing retail investors to participate in the real estate market, monetising rent-yielding assets and unlocking the broad potential of real estate assets. Institutional investors are also attracted by the reliability of these assets as REITs offer them a better return on investments.

A number of financial services companies came under pressure after the budget. 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 which are announcing their Q4 result. We take a look at what analysts are saying for select financial service stocks.

Foreign institutional investors (FIIs) have increased their net longs in Nifty and Single Stock Future (SSF), while domestic institutional investors (DIIs) have sold equities. FIIs pumped in $3.1bn in May while DIIs sold equities worth $372m. HNI and retail clients increased their short positions in the index while reducing their longs marginally in SSF. Bulls maintained their upper hand throughout the May series and continue to hold the grounds. The auto, IT, realty, and FMCG sectors recorded gains in May while the PSU bank and pharma sectors recorded losses. The Nifty can move higher but crossing 18,660 will remain a challenge, according to a Nuvama report.

Medplus Health Services' shares rose by 12% to Rs 772.7, due to its two-fold rise in profits in the March quarter, primarily boosted by strong sales in its key retail test. The company sold medicines online besides through its retail outlets throughout India resulting in a revenue increase from retail of about 29% to Rs 1,241 crore, which accounted for almost all of its total revenue. At present, the stock is trading at 11.5% higher, with a year-to-date increase of 24%. The average target price for the stock is Rs 808, with a consensus Buy recommendation from six analysts.

This corporation’s trend is bullish to sideways. Based on the options chain analysis, the range is between Rs 160 and Rs 170. Let us plan a trade around this.

Medplus Health Services' shares rose by 12% to Rs 772.7, due to its two-fold rise in profits in the March quarter, primarily boosted by strong sales in its key retail test. The company sold medicines online besides through its retail outlets throughout India resulting in a revenue increase from retail of about 29% to Rs 1,241 crore, which accounted for almost all of its total revenue. At present, the stock is trading at 11.5% higher, with a year-to-date increase of 24%. The average target price for the stock is Rs 808, with a consensus Buy recommendation from six analysts.

Chris Wood of Jefferies predicts that the Sensex will reach 100,000 in a matter of time based on a trend 15% EPS growth assuming a five-year average one-year forward PE multiple of 19.8x is sustained. However, Wood also highlights two stress points in Indian equity - Modi's re-election and a reduction in retail investor activity. Nevertheless, dedicated emerging market investors are slightly overweight in India relative to history, despite India's neutral weighting in the MSCI benchmarks being inappropriately low.

On the candlestick screener, a bullish reversal pattern helps identify stocks that can convert into an uptrend from a downward zone in the future. Here are two NSE stocks that have established an Inverted Hammer pattern and are hinting at a bullish reversal in the future. (Source: StockEdge)

Goldman Sachs maintained a neutral rating on Cummins India, whereas Credit Suisse maintained an outperform rating on the company. CLSA has a buy rating on Phoenix Mills, and Morgan Stanley maintained an overweight rating on Page Industries with concerns over the company’s weaker Q4 performance. While Cummins India's prospects are tied to internal combustion engines, Phoenix Mills is seen as a strong play on discretionary consumption demand, and Page Industries expects margin recovery to lead to revenue growth.

Using the candlestick scanner, one can identify stocks where the bulls are currently ruling the roost, nonetheless, the bears are quietly making a move. So, here are 5 stocks that established Bearish Harami Cross in trade on May 25, 2023. This pattern is indicative of an upcoming change in the current bullish trend. (Source: StockEdge).

From the Sensex pack, NTPC, HCL Tech, Infosys, Tech Mahindra, Wipro and Reliance opened with gains, while Sun Pharma, IndusInd Bank, Power Grid, Axis Bank, and ICICI Bank were trading with cuts.

Indian markets are set to consolidate due to muted global cues, with the BSE Sensex rising by nearly 100 points on Thursday, while the Nifty50 closed above 18,300. India VIX was down by 4.5% to 12.52 levels and has given strength to the bulls. Options data suggests a trading range of 18,000 to 18,600 zones and immediate trading range between 18,100 to 18,500 zones. Short-term traders can consider buying Bharti Airtel, PFC, and Tata Power, according to lead technical analyst Pritesh Mehta.

Sensex gains over 100 points, Nifty above 18,350; Page Industries tanks 10%, Voda Idea rises 3% on Q4 show.

Although Indian stock market valuations have dropped to their 5-year and 10-year historical averages, analysts still lack comfort in recommending investors to put money aggressively. However, nearly 50% of index stocks are below their 10-year averages, which can offer decent returns. UPL has the highest upside at 35% despite brokerage Prabhudas Lilladher slashing its FY24E/25E estimates by 16%/12% and target multiple from 14x earlier to 12x. Meanwhile, HDFC Bank, SBI, Axis Bank, and M&M have upwards of 20% upside potential each in the next 12 months.

Shares of Page Industries fell 15% in early trade after the clothing company reported a 59% YoY drop in net profit for Q4 2022-23. Revenue from operations was also down 13%. Brokers had mixed opinions on the stock’s outlook with Morgan Stanley maintaining its 'Overweight' stance and setting a price target of INR43,068, Kotak Institutional Equities recommending a 'Sell' rating and a price target of INR33,000 and Nuvama downgrading the stock from 'Hold' to 'Reduce' and setting a price target of INR36,800. Despite the company's weak performance, its board declared a fourth interim dividend of INR60 per equity share.

The Futures Short Position Scan conducted on Thursday revealed that aggressive new short positions have been taken on six counters. This is a bearish indicator as it signifies that the futures OI has increased while the price has decreased. (Source: StockEdge)

Nikola has been trying to raise cash for operations by selling equity, like other electric vehicle (EV) firms, in a turbulent market, and on Wednesday urged shareholders to vote in favor of increasing the number of shares at its annual shareholder meeting next month.

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 RIL while Nooresh Merani has a buy/sell recommendation on HCL Tech and L&T Fin Holdings for today's trading session. Check out the targets and stoploss.

In the NSE list of stocks with a market cap of over Rs 10,000 crore, eight stocks crossed their previous 5-year high value at the close on May 25, suggesting bullishness in counters, according to stockedge.com's technical scan data. Take a look.

Nifty futures on the Singapore Exchange traded 47 points, or 0.25 per cent, lower at 18,419.50, signaling that Dalal Street was headed for negative start on Friday. Here are some stocks which are expected to see some action in trade today.

In the NSE list of stocks with a market cap of over Rs 10,000 crore, eight stocks crossed above their 200 DMA (Daily Moving Averages) on May 25, 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.

Japanese stocks rose by 0.7% on Friday, with the Nikkei rising for a seventh consecutive week on the back of foreign inflows and production upgrades by US chip maker Nvidia. Meanwhile, MSCI's broadest index of Asia-Pacific shares outside Japan was up by 0.3%, with stocks mostly subdued, apart from the Japanese market. However, Hong Kong exchanges were shut for a holiday. A deal is expected to be reached soon between President Joe Biden and Congress to raise the government's debt ceiling; US Treasury estimates suggest it will run out of funds within a week in the absence of such a deal.

The markets on the last day of the monthly derivatives showed an extra energy with the Nifty closing with a gain of one-fifth of a percent. The markets were able to defend their key support levels on Thursday.

Equity markets in India closed slightly higher due to late buying. Realty index rose 1.10% and FMCG increased by 0.69%. On the contrary, metal, commodities, energy and financial services were the top laggards. HDFC Bank shares have corrected by nearly 5%, and the medium-term chart structure remains bullish. Chalet Hotels rallied over 15%, reaching its all-time high of INR450. Voltas shares, after a short-term correction, consolidated in the range of INR795 to INR810.

Wall Street had a robust day, with chipmaker Nvidia's stock soaring 24% after it forecasted that quarterly revenue would be 50% higher than originally predicted. The announcement led to a jump in AI-related companies, reflecting investors' fervent interest in AI. Other AI companies also saw notable rises, including Advanced Micro Devices, Microsoft, and Alphabet. Conversely, Intel, seen as trailing behind in the AI sector, was down 5.5%, a factor impacting the Dow Jones. Meanwhile, investors monitored debt ceiling negotiations in Washington and examined unemployment figures.

Wall Street had a robust day, with chipmaker Nvidia's stock soaring 24% after it forecasted that quarterly revenue would be 50% higher than originally predicted. The announcement led to a jump in AI-related companies, reflecting investors' fervent interest in AI. Other AI companies also saw notable rises, including Advanced Micro Devices, Microsoft, and Alphabet. Conversely, Intel, seen as trailing behind in the AI sector, was down 5.5%, a factor impacting the Dow Jones. Meanwhile, investors monitored debt ceiling negotiations in Washington and examined unemployment figures.

Private equity and venture capital investment into closely held companies routed through jurisdictions not mentioned will have to undergo scrutiny under the angel tax provisions for valuation.

Zee Entertainment Enterprises has reported a net loss of Rs 196 crore for the three months ended March period. Total income during the quarter under review fell 8% to Rs 1,934 crore.

Himadri Speciality Chemical is in talks to acquire a 10-15% stake in an Australian battery material technology company to enhance an electric vehicle's battery range. The Australian company is developing a silicon-composite battery anode technology which can possibly provide 50% higher energy density than conventional Li-ion battery technology.

An ET poll of 20 economists pegged growth in the January-March period in the 4.1-5.7% range with the median at 5.1%, higher than the 4.4% recorded in the preceding quarter.

Most of them have used improved cash flows to cut debt for better ratings and equity valuations, despite disruptions to business due to the Covid-19 pandemic two years back.

Registrations for external commercial borrowing (ECB) by corporates fell to $26.6bn in the last fiscal year due to rising global interest rates. After gradually increasing during the first three quarters of 2022-23, registrations dropped in Q4. ECB inflows for the year totalled $23.8bn, only marginally higher than outflows.

On Thursday, when the NSE's May contracts expired, traders cut their bearish bets and carried forward bullish positions, helping the benchmark indices eke out gains in a late rally after trading lower for most of the trading session.

Recent data suggest gross domestic product growth this year will be closer to the government's target of about 5%, contrary to expectations of a large overshoot formed earlier in the year. The figures also show a lopsided rebound that's being led by consumer services, while industrial activity lags far behind.

SRF may see its stock price increase towards Rs 2,700 as it is in pullback mode, suggest experts. The company's momentum shows it may be a good option for high-risk traders, according to reports. SRF had a record high of Rs 2,864 in September 2022, but lost steam soon after.

The Nifty FMCG index hit a new record high of 49,825 in intraday trade, and the BSE FMCG index also hit a record high. In the same sector, historical data suggests that FMCG stocks outperform the broader market during correction phases and Piyush Chaudhry recommended three FMCG stocks for trading

Shares in Nvidia, the world’s most valuable chipmaker, soared by 26.3% after it forecast quarterly revenue 50% above estimates, with Microsoft and Alphabet also seeing substantial gains. The Philadelphia SE Semiconductor Index was up 5.9% to its highest level in over a year. In contrast, Intel fell by 6.8% as it has little exposure to artificial intelligence (AI). While the two previous days had seen significant losses, with no end in sight to the U.S. debt ceiling and the threat of a possible default, the Nasdaq posted a 1.53% increase, and the S&P 500 was up 0.57%.

Equity markets ended with marginal gains on Thursday, apart from Oil & Gas, PSU Bank and Financials sectors. The US debt ceiling uncertainty and a stronger dollar weighed on investors’ sentiments. Ajit Mishra, VP - Technical Research, Religare Broking, said the index consolidation may continue, citing mixed indications. Traders should focus on handling intermediate volatility, look for opportunities in trends, and focus on sector stocks showing consistency in their trend instead of betting on laggards.

Nvidia Corp.'s optimistic earnings forecast, signalling the game-changing potential of AI, has pushed the chip designer's stock to a 25% increase and a market value of almost $1tn, more than double its value at the start of 2020. Data shows that 27 analysts lifted their price targets on the company given its dominance in the chip market for AI-powered services. The company also said that $1tn worth of equipment in data centres would eventually have to replace AI chips.

Boston Federal Reserve President, Susan Collins, suggests a pause in raising interest rates to evaluate the effect of past interest rate hikes on economic activity. Inflation remains high, however, there are early signs of moderation; the Federal Open Market Committee (FOMC) may pause from raising interest rates given the restrained banking sector and calm inflation. The next FOMC meeting is due to take place on 13-14 June and a pause will allow a complete evaluation of the information available at the time. However, many reserve officials still reserve the possibility of taking action if needed.

Despite the news of Germany's recession, markets were mainly focused on the US debt ceiling limbo. Chipmaking company Nvidia's revenue beat expectations, leading to a 24% rise in premarket trading. Main European markets and Wall Street futures are looking positive. On the other hand, Fitch put the US rating on downgrade watch, and China’s yuan has fallen near its six-month lows. Asia has been divided overnight with Japan plodding higher, but Hong Kong markets have tumbled almost 2%. Fitch’s possible downgrade could affect the pricing of trillions of dollars in Treasury debt securities.

On Thursday, the Sensex benchmark index witnessed a 98-point upswing, reaching the 61,872 mark. As a result, 9 stocks from the BSE 200 index attained new 52-week highs. The 52-week high holds significance for certain traders and investors as a crucial technical indicator for evaluating a stock's present worth and predicting future price trends. It represents the highest price at which a stock has traded during the previous 12 months.

The Nasdaq Composite rose 222.28 points, or 1.78%, to 12,706.44 at the opening bell

Life Insurance Corporation of India’s investment policy is in place and specific stock movements will not affect the same, said Siddhartha Mohanty, chairperson of the country’s largest life insurer, clarifying on the recent movement in Adani Group stocks.

Defying negative global cues, Indian equity markets recovered from the day's low to end higher on Thursday. The S&P BSE Sensex ended 99 points higher at 61,872, while its broader peer Nifty50 ended above the 18,300 level."Nifty remained volatile during the day but found support at the 18200 level before moving higher. The RSI is in a bullish crossover on the lower timeframe, which suggests that the momentum is in favor of the bulls. On the higher end, resistance is seen at 18500. Support is seen at 18200," Rupak De, Senior Technical Analyst at LKP Securities, said.Here are 7 stock recommendations for Friday:

The Nifty FMCG index hit a new record high of 49,825 in intraday trade, and the BSE FMCG index also hit a record high. In the same sector, historical data suggests that FMCG stocks outperform the broader market during correction phases and Piyush Chaudhry recommended three FMCG stocks for trading

Vardhman Special Steels, a producer of special and alloy steels in India, will trade ex-bonus on May 26, according to an announcement of a bonus issue of equity shares in proportion of 1:1. The bonus issue will be subject to approval of shareholders of the company. The issuance of bonus shares aims to increase the liquidity of the stock as well as to decrease its stock price to make it affordable for investors. On Thursday, shares of Vardhman Special Steels closed 2.35% lower at INR414 per share on the NSE.

Himadri Speciality Chemical is in talks to acquire a 10-15% stake in an Australian battery material technology company to enhance an electric vehicle's battery range. The Australian company is developing a silicon-composite battery anode technology which can possibly provide 50% higher energy density than conventional Li-ion battery technology. Himadri produces electrodes using coal-tar pitch to make battery anode material using graphite electrodes. Being able to access the silicon-composite technology will enable the company to secure orders from Indian battery manufacturers and meet the required proportion of localization under the government's PLI scheme.