Shares of Adani Group's companies, including Adani Green and Adani Power, rose by 4%, while Adani Transmission, Adani Total Gas, and NDTV's shares surged by 5% each for the fourth day in a row. Adani Enterprises' shares have gained about 35% since Friday, while the combined market capitalisation of Adani stocks has risen by 16% to INR 11 lakh crore ($148bn) in the last four trading sessions since the Supreme Court appointed committee's report on the Hindenburg issue was made public. US-based GQG Partners has further hiked its stake in the conglomerate by 10%.

Indian mining conglomerate Vedanta Group’s long-term financial health is under question as its billionaire owner, Anil Agarwal, seeks to reduce gross borrowings of $6.8bn at Vedanta Resources. While bonds due to be paid this month are close to 100 cents on the dollar, subsequent bonds are said to lack confidence, with prices around just 70 cents on the dollar for some. In addition, share prices for Vedanta companies have dropped this year, hitting fundraising efforts and increasing use of equity as collateral. Landmark dividend payments of $830m have been announced, but reduced cash reserves in subsidiaries disappoint.

The country’s largest insurer and a leading institutional investor in Adani Group saw the market value of its holdings increase by over Rs 6,200 crore since April to Rs 45,481 crore, thanks to the stellar rally in the stocks.

Sensex falls over 200 points, Nifty below 18,300; SpiceJet gains 4%, JSW Energy sheds 2%; Mahindra CIE Automotive, Adani Power, Biocon are some of gainers in the morning trade.

Indian market is set to consolidate, following sluggish global signals. S&P BSE Sensex & Nifty50 demonstrated negligible growth with a positive bent on Tuesday. India VIX inclined from 12.57 to 12.60 on Tuesday but still considered to have stable volatility. According to Chandan Taparia of Motilal Oswal Financial Services Ltd, “options data” indicate trading ranging 18150 to 18500. Sharekhan, an independent technical analyst and together with experts from BNP Paribas, also suggests the purchase of the stock of Balkrishna Industries, Mastek, ICICI Bank, among others.

Indian stock markets traded lower on Wednesday, following the negative global market sentiments. Banking and IT stocks observed significant selling. Power Grid, Bajaj Auto, Dr Reddy’s, and Britannia experienced gains, while Adani Ports, ICICI Bank, Hindalco, HDFC, and Indusind Bank were among the top laggards in the Nifty50 pack. Global markets also traded lower due to the uncertainties surrounding the US debt ceiling crisis. Meanwhile, the Indian rupee was at Rs 82.80 against the US dollar.

Manappuram Finance and Rossari Biotech shares traded ex-dividend on May 24. Manappuram had earlier announced an interim dividend of Re 0.75 per equity share, resulting in a dividend yield of 2.70%. Meanwhile, Rossari Biotech has paid a meagre Rs 0.5 per share as equity dividend in the last 12 months, and at current CMP levels, this results in a dividend yield of 0.07%. In the March quarter, Manappuram Finance reported a 59% growth in its consolidated net profit at Rs 415 crore.

In the NSE list of stocks with a market cap of over Rs 10,000 crore, six stocks crossed their previous 5-year high value at the close on May 23, suggesting bullishness in counters, according to stockedge.com's technical scan data. Take a look.

JPMorgan retained Ashok Leyland as overweight with a target price of Rs 175 as the company reported yet another quarter of margin beat, and the management commentary on future market share, demand, and discounting trends will be essential. Goldman Sachs stayed neutral with a target price of Rs 3370 on Dixon Technologies after seeing the company beat its Q4 2021 Street expectations. HSBC upgraded Godrej Consumer to buy, citing its robust structural growth and tenable valuation. Lastly, Nomura sustained a buy rating on Ashok Leyland with a target price of Rs 184 post-March quarter results.

"Can Fin Homes remain our top pick in HFC space. We expect RoAs of over ~2% for FY24E and FY25E, driving strong RoE (return on equity) of 18-20% for the respective years going ahead. We believe the current valuations of 2.0x/ 1.7x FY24E/ FY25E book value estimates are reasonable vs ROA trajectory of over ~2%," Rahul Malani, Deputy VP - Research, Sharekhan by BNP Paribas, said.

In the NSE list of stocks with a market cap of over Rs 10,000 crore, nine stock prices crossed above their 200 DMAs (Daily Moving Averages) on May 23, 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.

The stock price of this company has been sliding lower since February, when it made a failed attempt to surpass its previous peak. After forming a short-term bottom in March, the price has been rising gradually and has now given a trendline breakout. Before the breakout, the price was consolidating just below the resistance level. This observation,along with a rise in volume, increases the reliability of the breakout.

The markets on Tuesday extended their upside journey, with the Nifty ending the day with a modest rise of one-fifth of a percent. Although the index formed its high in the afternoon, it gave up most of its gains in the last hour of the trading day.

Indian equity strategists have scaled back their year-end outlook as a new bull run in India's already-richly valued stock market is unlikely, according to a Reuters poll. The Sensex and Nifty 50 indexes were expected to gain 3.8% and 4.6%, respectively, from Tuesday's close to end-2023, slightly downgraded from a February poll. Over 70% of analysts believe Indian stocks will trade in a narrow range for the next three months. While an end to the RBI's modest rate-hiking cycle was positive, the high probability of a U.S. recession this year is likely to limit Indian stocks' gains.

Nifty futures on the Singapore Exchange traded 82.5 points, or 0.45 per cent, lower at 18,376.50, signaling that Dalal Street was headed for negative start on Wednesday. Here are some stocks which are expected to see some action in trade today.

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 Tata Comm and Bajaj Finserv while Nooresh Merani has a buy/sell recommendation on ICICI Bank and Piramal Enterprises for today's trading session. Check out the targets and stoploss.

On the candlestick screener, a bearish reversal pattern helps identify stocks that can convert into a downward trend from the current uptrend. So, here are 4 NSE stocks with m-cap between Rs 1000 and Rs10,000 crore that have established a Gravestone Doji pattern and signify bearish reversal. (Source: StockEdge

Indiabulls Housing Finance Company and Delta Corp are the two stocks under trade ban on May 23. The availability of banned stocks for trading in the cash market remains the same. An open interest of over 95% of the market-wide position limit places a stock in the ban period, which continues until open interest falls below 80%. Traders who trade in indices do not face a security ban. Nifty gained momentum to close above 18,350 levels, and its lower-end support stands at 18,200 levels.

The Indian market closed flat but positive on Tuesday for the third consecutive day. Sectorally, utility, power, oil and gas, and energy stocks witnessed buying, while capital goods, IT, and realty stocks saw selling. Adani Enterprises surged over 13%, India Oil Corporation hit a 52-week high, and Balkrishna Industries rose over 5% on Tuesday. Viral Chheda, Sr. Technical Analyst at SSJ Finance & Securities, recommends buying Adani Enterprises and Indian Oil Corporation, while booking profits on Balkrishna Industries.

The Futures Short Position Scan conducted on Tuesday revealed Aggressive New Short positions on the counters of 4 midcap stocks. This is a bearish indicator, as it signifies that the futures OI has increased while price has decreased. (Source: StockEdge)

Shares opened lower in Japan, South Korea and Australia while futures for Hong Kong’s benchmark slid following drops of more than 1% for the S&P 500 and Nasdaq 100. Oil extended gains to a third day after the Saudi energy minister warned short-sellers of pain ahead.

On the candlestick screener, a bullish reversal pattern helps identify stocks that can climb into an uptrend from a downward zone in the future. Here are 3 NSE stocks that have established a hammer pattern and signify a bullish reversal. (Source: StockEdge)

World's richest man, Bernard Arnault, lost around $11.2 billion from his fortune in one day due to the softening of the US economy, which is likely to dampen luxury goods demand. The investor of LVMH, offering brands such as Louis Vuitton, Moet & Chandon, and Christian Dior, experienced a 5% fall in LVMH shares in Paris. Despite the shares' slump, Arnault still has a net worth of $191.6 billion, having added $29.5 billion so far this year. Deutsche Bank analysts forecast that the international investors may become selective with European luxury stocks due to slowing growth in the US, which might affect the LVMH share price as well.

The Vedanta Group, led by billionaire Anil Agarwal, has secured an $850m loan from JPMorgan Chase and Oaktree as it tries to find funds to pay back a $500m bond. The debt of the Indian mining operation, which suffered a setback after zinc mining unit sale to Hindustan Zinc was blocked, is causing investors concern, with the news agency Bloomberg reporting that Vedanta Resources bonds due to be repaid this year and in 2026 are trading below 70 cents to the dollar.

Wall Street stocks closed lower on Tuesday as investors grew increasingly concerned about a lack of progress regarding US debt limit talks. Short-term Treasury yields also rose, with one-month bills hitting record highs of 5.888%. Meanwhile, traders are waiting for minutes from the Federal Reserve's May 2-3 meeting due on Wednesday which could reveal the central bank's next likely step on interest rates. Michael Wilson, an equity strategist at Morgan Stanley, has stated that a US debt default is not yet priced into the market.

Commercial vehicles maker Ashok Leyland Ltd reported a nearly 17% year-on-year (YoY) drop in net profit for the quarter ended March to Rs 751.41 crore, despite a rise in revenue.

Earlier in March, GQG had invested ₹15,446 crore in four Adani Group companies - flagship Adani Enterprises, Adani Ports and Special Economic Zone, Adani Green Energy and Adani Transmission - through block deals. The value of this investment is estimated to have crossed ₹25,000 crore as per latest stock prices.

​​The recovery, totalling about ₹10,090 crore on factoring in the target company's cash balances and the Hinduja offer, falls short of the ₹12,500-13,000 crore estimated liquidation value.

Shares of BPCL surged as much as 2.6% before closing the day at ₹366.20 apiece on the NSE, up 1.27% from the previous close.

The capital raised by Adani Green Energy will be used to repay an outstanding $750 million, three-year bond issued in 2021 that's due next year. The money is likely to be kept in a dedicated redemption reserve account and paid on the due date, said people aware of the matter.

Shares of PB Fintech opened over 5% higher in Tuesday's trading but could not hold on to any gains, ending at ₹617 on the NSE, down 0.35% from the last close.

The funds raised will be utilised partly for the acquisition of distressed assets and servicing of debt. This fundraising comes ahead of the repayment obligation of ₹1,250 crore due on June 1, which was borrowed in December 2019 at a lower rate of 11.5%. This is the largest fundraising in over three years for Edelweiss ARC, considering its previous fundraising of ₹1,250 crore in December 2019.

The lender reported a sustained momentum in borrower additions. In the fourth quarter of FY23, it added nearly 5.5 lakh customers compared with over three lakh in the third quarter and 92,642 crore in the first quarter.

Resolution professional Satyendra Khorania confirmed the extension of the timeline through an email response. Bidders for the distressed company include India's largest private sector company, Reliance Industries, and Kolkata-based MCPI, which is a part of The Chatterjee Group (TCG).

The last FATF evaluation happened in 2010, and the upcoming review assumes significance in the wake of alleged lobbying by a few countries against India and the Hindenburg report on Adani companies, a person familiar with the subject told ET.

And as it did through 2022, banks were quick to charge retail borrowers more on loans for buying cars, homes or vacations. By contrast, the pace of transmission was positively more circumspect for corporates seeking credit, which is more often than not priced in line with a lender's internal weighted average cost of capital.

The committee's report released on Friday said it had not found 'regulatory failure' on allegations of price manipulation in the conglomerate's stocks and violation of minimum public shareholding rules. Since the report has been made public, Adani group stocks have run up between 6% and 40%, helping the group companies recoup ₹1.78 lakh crore in market value.

In its report dated May 19, Jefferies stated: "While this is not a meaningful segment for Siemens's growth prospects in transmission and railways, it has led to implied loss for investors as it was sold at lower EV/ sales." The brokerage said the unit accounted for 7% of Siemens India's FY22 sales and 9% of its profits.

Term sheet of the block deal shows it is a clean out deal which means the stake of M&M in the Mahindra CIE Automotive will drop to nil. M&M held a 3.20% stake in Mahindra CIE Automotive at the end of March 2023, according to BSE data.

Experts predict that United Spirits' stock price may rise towards Rs 1000 levels in the short term. The stock has been trading above its 5, 10, 30, 50, 100, and 200-DMA on daily charts and recently breached the Rs 810 level. Traders are advised to buy the stock now in the range of Rs 815-835 with a target of Rs 1015 in the next 2-4 months and a stop loss below Rs 740. The relative strength index indicates that the stock is overbought, so a pullback may occur. However, the MACD indicator is bullish.

Norges Bank via the Government Pension Fund Global, Neuberger Berman and Union Mutual Fund have purchased shares of Syrma SGS Technologies via open market transactions. Syrma SGS designs and produces electronic systems and provides high-mix, flexible volume and precision OEM manufacturing, as well as RFID tags and high-frequency magnetic components.

Treasury bill yields rose before they fell midday, while the S&P 500 index fluctuated within a 30-point range. Strategists predicted the benchmark index ending the year at 4,150 points. S&P Global data revealed US business activity rose to a 13-month high despite the economic risks.

On Tuesday, the Sensex benchmark index ended flat. However, five stocks from the BSE midcap index managed to reach 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 within the past year.

“It may please be noted that on account of non-availability of directors, the meeting of the board of directors is now cancelled,” the release said.

"United Spirits stock has been gradually inching higher for the last 2 months and surpassed the immediate hurdle around 810 levels. Indications are in the favour of recovery to strength further," Ajit Mishra, VP - Technical Research, Religare Broking Ltd, said.

CreditAccess Grameen expects to grow its assets under management (AUM) by 20-25% annually to reach Rs 50,000 crore over the next four-five years. The microfinance company said that this expansion will be achieved through expanding into new states, focusing on enhancing return ratios and building a diversified assets and liabilities profile. In Q4 2023, the firm achieved the ranking of being the first pureplay microfinance company in the country to cross Rs 20,000 crore in AUM. In addition, it expects to reduce the dominant market share of its top three states and increase its non-microfinance portfolio share to 10-15% by FY28.

Benchmark indices Sensex and Nifty eked out marginal gains in volatile trade to extend the winning streak to a third straight day on Tuesday amid weak trends in global markets as investors turned cautious ahead of the release of the US Federal Open Market Committee (FOMC) meeting minutes. Fag-end selling dragged the 30-share BSE Sensex down from its intra-day high level to end flat at 61,981.79 with marginal gains of 18. Nifty settled above 18,300. Sectorally, Nifty Metal emerged as the top gainer with gains to the tune of 2.6%.From the Nifty pack, top gainers were Adani Enterprises, Divi’s Labs, Bajaj Finserv, Eicher Motors and UPL, while laggards included stocks like Tech Mahindra, Apollo Hospital, Grasim, HCL Tech and Titan.“This consolidation phase is likely to continue till the time we do not get a convincing close above 18,450-18,500 and the Bank Nifty surpasses its all-time high levels of 44,150. A breakthrough at these key levels would ignite a fresh wave of positive momentum in the market. Until then, traders are advised to buy on dips and book profits at higher levels. In terms of support levels, 18,200 is the immediate support, while a stronger support zone exists between 18,050 and 18,100 levels,” said Rajesh Bhosale, Technical Analyst at Angel One.Here are stock recommendations for day:

Investors who need liquidity can consider parking their funds in liquid funds, which primarily invest in money market instruments and debt securities. For short-term investments or liquidity management, opportunities exist in arbitrage funds, ultra short-term funds with a horizon of at least six months, liquid funds with a horizon of one to three months, and overnight funds with a view of less than one month.

Following the release of the Supreme Court-led panel's investigation report, Gautam Adani's net worth reached $55 billion and he now ranks 24th on Forbes' list of wealthiest people. Adani Group stocks rose over 13%, bringing its flagship company shares up by 159% from their 52-week low hit after Hindenburg's report. The apex court gave two more months to the market regulator SEBI for investigating the matter. The second booster shot for Adani stocks came from GQG Partners with 10% raised stake in the group. Other Adani group stocks have recovered 38-125% from their 52-week lows.

The Dow Jones Industrial Average fell 95.98 points, or 0.29%, at the open to 33,190.60.