The Dow Jones Industrial Average rose 40.77 points, or 0.12%, at the open to 33,715.15.

Led by gains in private bank, realty and auto stocks, domestic indices rallied in Monday’s session. Nifty topped 18,264 levels at close, up over 1% or nearly 200 points, while Sensex added 710 points and settled at 61,764. Top gainers from the Nifty pack included stocks like IndusInd Bank, Tata Motors, Bajaj Finance, Bajaj Finserv and ONGC, while laggards were Coal India, Adani Enterprises, Sun Pharma and Britannia.

Valuation master Aswath Damodaran outlined the parameters and methodology for valuing banks, in a blog post which aimed to educate investors on the intrinsic value and worth of banks. Damodaran indicated that for banks, one can only value equity and therefore use price-to-earnings or price-to-book as parameters for valuing banks, with the future free cash flows to equity used as a measure of intrinsic value.

India's markets regulator, Sebi, has said that more than 1.9 million investors in PACL have received INR9.2bn ($128m) in refunds. PACL was found to have raised INR600bn ($8.3bn) from the public via illegal collective investment schemes in the name of agriculture and real estate businesses over a period of 18 years. The refunds have been processed in phases for investors who put money into PACL. A total of 3,747 investors with claims of up to INR15,000 have received payment of INR24.5m.

IndusInd Bank shares rebounded 5% higher to close at INR 1,128.30 on Monday after the chief risk officer, Ramaswamy Meyyappan, tendered his resignation to join an MNC bank. The bank has identified a new CRO and is completing necessary formalities. Jefferies analysts retained their "Buy" rating on the bank, stating that Meyyappan's resignation didn't warrant the 5% correction in share prices on Friday 25 June, and the stock's valuations remain attractive. IndusInd Bank's standalone net profit rose 50% to INR 2,040 crore in Q4, while the net interest income rose 17% to INR 4,669 crore.

Sensex ended 710 points higher to inch closer to the 62,000-mark while Nifty zoomed past the 18,250 level on Monday. This rally resulted in four auto stocks from the BSE Auto index to hit new 52-week highs, a crucial technical indicator for numerous traders and investors. This indicator helps in evaluating a stock's current value and predicting its future price movements. The 52-week high is the highest price at which a stock has been traded during the previous year.

The Nifty index ended above 18,250 points and formed a bullish candle on the daily chart, indicating that it is still in buy mode as long as it remains above the support of 18,200 points. Supports are placed at 18,181 and 18,081, while the index has a broader trading range between 17,800 to 18,500 points and an immediate trading range between 18,100 to 18,400 points. The daily and hourly momentum indicators signal a buy, and the consolidation range is estimated to be between 18,000 to 18,300 points. The expanding triangle shows that the Nifty may have obstacles at 18,330 to 18,350 points.

The rally comes despite some foreign brokerages taking neutral-to-bearish stance on Indian equities. BofA Securities had last week made a case for booking profits when Nifty is at 18,000 and buying into the dips if it moves towards 16000 level.

The rally comes despite some foreign brokerages taking neutral-to-bearish stance on Indian equities. BofA Securities had last week made a case for booking profits when Nifty is at 18,000 and buying into the dips if it moves towards 16000 level.

Closing Bell: Sensex rallies 710 pts, Nifty above 18,250; Tata Motors surges 5%, Adani Transmission tanks 5%.

Shares of Bank of India fell almost 9% on Monday on the NSE as investors reacted to the slippage in net NPA during the January to March quarter. Although the bank saw a 5.32% quarter-on-quarter jump in its net NPA, its NNPA was down 18% YoY. Bank of India reported a 115% jump in consolidated profit after tax for the March quarter, while also planning for a capital raise of INR4,500 crore in FY24. Gross Non-Performing Assets and core net interest income also posted positive results.

Sensex trades closer to the 62,000 points mark, while Nifty exceeds the 18,250 level. The total market capitalisation of all BSE-listed stocks rose by Rs 2 lakh crore to Rs 275.86 lakh crore. The rally comes despite some foreign brokerages taking a neutral-to-bearish stance on Indian equities.

Equitas Small Finance Bank reported a 58% YoY rise in net profit for Q1 at INR 190 crore ($25.5m) and a total income of INR 1,394.41 crore. Following the announcement, shares in the bank surged 7.5% to reach INR 78.35 on Monday. The Board of Directors also recommended a dividend of Re 1 per equity share. Analysts have advised buying Equitas' stock, with YES Securities predicting 25% loan CAGR and 33% earnings CAGR over FY23-25 and expecting RoE to surpass 16% in FY25.

Titan Company's shares have surged by more than 19% in the past year, outperforming the 10% returns of Nifty50, and are looking set for a potential 17% upside. Analyst Rajesh Palviya suggests that the stock has strong momentum, and there is an expected breakout zone of 2,900 levels based on the formation of a "rounding bottom" pattern. Meanwhile, Sharekhan has retained a 'buy' rating on Titan and believes its revenue growth target of 20% CAGR between FY2022 and FY2027, along with consistent margin improvements, will lead to significant cash flow improvements.

Smallcap firm Servotech Power Systems witnessed a 5% rise in shares after reporting a 363% increase in net profit at INR 6.05 crore ($812,537) for Q4 FY23, up from INR 1.30 crore in the same period the previous year. The company's revenue from operations amounted to INR 115.3 crore in the March quarter, a YoY uptick of 125.8%, and other income surged to INR 4.67 crores as against INR 400,000 in Q4 FY22. Servotech Power Systems' total revenue rose 134% YoY to INR 119.98 crore in Q4.

Coal India's shares fell by 3.2% to Rs 230 on Monday after reporting an 18% YoY decline in consolidated net profit for Q4 FY23 at Rs 5,528 crore. However, for FY23, the state-owned Maharatna firm posted a massive 62% YoY growth in profit after tax at Rs 28,125 crore. Despite provisioning a massive Rs 8,153 crore towards wage revision for non-executive manpower, higher volume sales and increased premiums in e-auction bolstered the company’s profitability. While Jefferies retained a hold rating, Motilal Oswal retained a buy rating for Coal India.

Smallcap firm Servotech Power Systems witnessed a 5% rise in shares after reporting a 363% increase in net profit at INR 6.05 crore ($812,537) for Q4 FY23, up from INR 1.30 crore in the same period the previous year. The company's revenue from operations amounted to INR 115.3 crore in the March quarter, a YoY uptick of 125.8%, and other income surged to INR 4.67 crores as against INR 400,000 in Q4 FY22. Servotech Power Systems' total revenue rose 134% YoY to INR 119.98 crore in Q4.

Sensex trades closer to the 62,000 points mark, while Nifty exceeds the 18,250 level. The total market capitalisation of all BSE-listed stocks rose by Rs 2 lakh crore to Rs 275.86 lakh crore. The rally comes despite some foreign brokerages taking a neutral-to-bearish stance on Indian equities.

Japanese shares closed lower on Monday due to concerns over the US banking sector and a strengthening yen against the dollar. The Nikkei fell by 0.71% to 28,949.88, whereas the Topix index slid 0.21%. Furthermore, oil explorers and banks performed the worst in the Tokyo Stock Exchange's sub-indexes, dropping1.71% and 1.27%, respectively. Meanwhile, SoftBank Group Corp, one of the biggest losers of the day, saw a decline in stock prices by 0.97%, as Uniqlo's brand owner Fast Retailing Co Ltd fell by 3.13%. However, Itochu Corp rose by 1.35%, while Marubeni Corp edged up 0.1%.

Stock broking space is a big opportunity, but like all other opportunities, it comes with its own risks. Change in the regulatory environment and technology is bringing challenges every day. After a gap of four years, which has seen many ups and downs with market share moving to new age companies, select companies which have moved into new areas of wealth management and other related services are attracting interest.

JP Morgan has rescued First Republic, an international bank that had failed, by taking on the bank's depositors and excluding billions of dollars in liabilities left with the Federal Insurance Deposit Corporation (FDIC). The Reserve Bank of India has formulated Utkarsh 2.0, a strategy framework for the period 2023-25, which aims to foster monetary and financial stability, ensure the development of an efficient and inclusive financial system, and promote balanced and equitable economic development. The framework has 60 strategies culminating in the desired outcomes and serves as a longer-term plan than the annual plans previously adopted.

From the Sensex pack, IndusInd Bank, Power Grid, Kotak Bank, Tata Motors and HDFC were the top gainers

Experts suggest that Tata Motors' recent breakout from an inverse head and shoulder pattern on the daily charts indicates room for the stock to head towards Rs 535 in the next 2 months. The stock is trading below 5 and 10-DMA but above 30, 50, 100, and 200-DMA on the daily charts. Traders can buy the stock on dips for a possible target above Rs 500-600 in the next 2 months. The RSI readings on a weekly and daily basis are higher than the 60-point cutoff, and if the stock maintains above Rs 535, it is likely to rise to Rs 584.

As earnings season progresses at a time when sentiments are turning in favor of bulls, stocks from different sectors have seen an improvement in their analyst scores. The selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.

Sensex trades closer to the 62,000 points mark, while Nifty exceeds the 18,250 level. The total market capitalisation of all BSE-listed stocks rose by Rs 2 lakh crore to Rs 275.86 lakh crore. The rally comes despite some foreign brokerages taking a neutral-to-bearish stance on Indian equities.

From the Sensex pack, IndusInd Bank, Power Grid, Kotak Bank, Tata Motors and HDFC were the top gainers

Electric bus manufacturer Olectra Greentech reported a 52% YoY rise in consolidated net profit to INR27.01 crore ($3.6m) for Q4 FY23. The firm's earnings were announced on Friday and sent its stock up over 10% during Monday's session. Olectra Greentech also reported that its consolidated revenue for the quarter stood at INR375.91 crore, up 39% YoY from INR271.3 crore in the same period a year ago. The EV firm's stock has given investors more than 330% returns over the past five years, but despite market ups and downs, its shares have traded with relatively low volatility.

Britannia Industries reported a 47% YoY rise in consolidated net profit for Q4FY23, resulting in several brokerages being positive on the stock. Foreign brokerage JP Morgan has maintained a neutral rating while Morgan Stanley remained a buyer with a target of Rs 5,300. Domestic brokerage houses PhillipCapital and Sharekhan have retained a buy on the counter. However, HDFC Securities has given a reduce on the stock. Challenges of low volume growth and volatility in raw materials are likely to continue, it said.

Marico's Q4 consolidated net profit grew by 20.3% year-on-year and revenues slightly increased by 4%, leading shares to rally to a 9.3% day high at Rs 539.50. Despite an increase in advertising spend, Marico managed to beat earnings expectations due to better-than-expected revenues and expanding margins by 153 bps to 17.5%. Analysts suggest that Marico is a good buy with a target price of Rs 600 as the margin outlook remains strong with favorable input prices and investments into high-growth portfolios. However, some analysts suggest caution due to intense competition across categories and inflationary pressures.

Britannia Industries reported a 47% YoY rise in consolidated net profit for Q4FY23, resulting in several brokerages being positive on the stock. Foreign brokerage JP Morgan has maintained a neutral rating while Morgan Stanley remained a buyer with a target of Rs 5,300. Domestic brokerage houses PhillipCapital and Sharekhan have retained a buy on the counter. However, HDFC Securities has given a reduce on the stock. Challenges of low volume growth and volatility in raw materials are likely to continue, it said.

From the Sensex pack, IndusInd Bank, Power Grid, Kotak Bank, Tata Motors and HDFC were the top gainers

After the company reported strong January-March quarterly results, several top Indian and foreign brokerages took a view on the stock. Among foreign brokerages, Macquarie maintained an ‘outperform’ rating on the stock while Goldman Sachs took a ‘buy’ view. In the domestic pack Motilal Oswal has a ‘buy’ rating while Yes Securities has a ‘neutral’ stance on the counter.

In the NSE list of stocks with a market cap of over Rs 10,000 crore, seven stocks crossed their previous five-year high value at the close on May 05, suggesting bullishness in counters, according to stockedge.com's technical scan data. Take a look.

Aditya Birla Fashion & Retail's acquisition of a 51% stake in TCNS Clothing has led to a 19% drop in the latter's stocks. ABFRL aims to acquire the remaining shares in a merger with TCNS, which will offer public shareholders 11 ABFRL shares for every six TCNS shares they hold. Emkay has suggested that due to the current price of the stocks and the swap ratio for the merger at 1.83, it will be more beneficial for public shareholders of TCNS to tender their shares in the open offer at Rs 503 per share than to swap them.

Britannia Industries reported a 47% YoY rise in consolidated net profit for Q4FY23, resulting in several brokerages being positive on the stock. Foreign brokerage JP Morgan has maintained a neutral rating while Morgan Stanley remained a buyer with a target of Rs 5,300. Domestic brokerage houses PhillipCapital and Sharekhan have retained a buy on the counter. However, HDFC Securities has given a reduce on the stock. Challenges of low volume growth and volatility in raw materials are likely to continue, it said.

In the NSE list of stocks with a market cap of over Rs 10,000 crore, seven stocks crossed their previous five-year high value at the close on May 05, suggesting bullishness in counters, according to stockedge.com's technical scan data. Take a look.

From the Sensex pack, IndusInd Bank, Power Grid, Kotak Bank, Tata Motors and HDFC were the top gainers

Despite the benchmark Sensex failing to give positive returns in the June quarter of the last three financial years, 26 BSE-listed companies have managed to deliver index-beating and multibagger returns. The companies include BLS International, Chemcrux Enterprises, Chennai Petroleum Corp, De Nora India, Elecon Engineering, Gokul Agro Resources, Imagicaaworld Entertainment, Jupiter Wagons, Mangalore Refinery and Petrochemicals, Salasar Techno, and Shree Renuka Sugars. Most have seen lower debt, an improving book value per share, and zero promoter pledge, according to a SWOT analysis by Trendlyne.

Analyst sentiment, which is measured by the proportion of Buy/Hold/Sell ratings, has been hit over the past year, with the percentage of Buy ratings moderating to 71% from 73% a year ago. Further, the percentage of Hold rose to 17% from 16%, and Sell ratings climbed to 12% from 11%, a year ago. According to brokerage firm Motilal Oswal's data, 10 stocks have at least 96% Buy ratings from analysts covering the stocks.

From the Sensex pack, IndusInd Bank, Power Grid, Kotak Bank, Tata Motors and HDFC were the top gainers

Sensex jumps 300 points, Nifty tops 18,150; IndusInd Bank gains 3%, AB Fashion sheds 3%; Aditya Birla Capital, Manappuram Finance, Vodafone Idea are some of the top gainers in morning trade.

The Indian market is set to consolidate on Monday in line with mixed global cues. While the Nifty50 managed to maintain 18000 levels on Friday, the S&P BSE Sensex fell almost 700 points. On the options front, the maximum call OI lies at 18200 and then 18300 strikes while the maximum put OI lies at 18100 and then 17900 strikes. Options data suggests a trading range of 17700 to 18500 zones, while the immediate range is 17900 to 18300 zones. Brokerage firm recommendations include selling Jindal Steel and Canara Bank, as well as buying L&T Finance Holdings and Intellect Design Arena.

The stock price of this company has risen vertically by 25% in the previous month and by 55% in the past 3 months. Such a rise is unsustainable and calls for a bout of profit booking. In the last few sessions, the price has formed three consecutive Dojis and now has formed a bearish Marubozu candlestick which suggests that the profit booking is picking pace.

Nifty futures on the Singapore Exchange traded 35.5 points, or 0.20 per cent, higher at 18,159.50, signaling that Dalal Street was headed for positive start on Monday. Here are some stocks which are expected to see some action in trade today.

The Indian market closed lower due to muted global cues, with the S&P BSE Sensex falling nearly 700 points, and Nifty50 ending near 18,000 levels. Stocks that rose were ITI, Engineers India and TVS Motor Company. Pravesh Gour, Senior Technical Analyst at Swastika Investmart Ltd, recommends that investors consider Engineers India and TVS Motor Company as buys, while ITI is a risky buy. According to the momentum indicator MACD and the RSI, both companies are showing positive signs and have a strong demand zone during any correction.

In the NSE list of stocks with a market cap of over Rs 1000 crore, nine stocks crossed above their 200 DMAs (Daily Moving Averages) on May 5, 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.

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 Glenmark and United Spirits while Nooresh Merani has a buy/sell recommendation on Maruti Suzuki and Ambuja Cements for today's trading session. Check out the targets and stoploss.

As warned over the volatility index’s weakness, the markets went into a correction mode on Friday, with the Nifty ending the day with a loss of just over one percent. The markets are likely to remain defensive even on Monday, if the last hour of trade last week is any indication.

Jefferies and Morgan Stanley have released their recommendations on various companies. Jefferies maintained a buy rating and a target price of Rs 1550 on IndusInd Bank. Meanwhile, Morgan Stanley maintained its overweight stance and target price of Rs 125 on Bank of India. For Britannia Industries, Morgan Stanley suggested buying with a target price of Rs 5300, while Jefferies gave a buy rating on the firm's shares. However, it remained underweight on Aditya Birla Fashion with a target price of Rs 195, despite the lower-than-anticipated balance sheet impact.