Gold price plunged Rs 350 to Rs 60,170 per 10 gram in the national capital on Tuesday amid a decline in the precious metal's prices globally, according to HDFC Securities. The yellow metal had closed at Rs 60,520 per 10 gram in the previous trade.Silver also tumbled Rs 660 to Rs 72,880 per kilogram.

In India's real estate market, prospective homebuyers often face a dilemma of whether to rent or buy a property, given the emotional, financial, and social benefits and drawbacks involved in either option. While homeownership offers long-term benefits of asset creation and a sense of security, renting provides financial flexibility, freedom from maintenance responsibilities, and affordable outgoings. The decision to rent or buy will depend on your current circumstances, priorities, financial capacity, long-term goals, and personal preferences, suggesting that renting can be a good short-term option until a stable income is achieved, followed by investing in a first home in the 30s after evaluating financial capacity and goals.

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.

Indian equity index Nifty was in a narrow range of 30-40 points, forming a small-bodied candle on the daily charts. The Nifty is making higher highs and higher lows from the past two sessions. Support zones for an up move are at 18,333, 18,442 and 18,550, whereas the downside supports exist at 18,281 and 18,181. Volatility was slightly up during the day but lower levels continued comforting bulls at support zones. Analysts suggest traders buy on dips and focus on midcap stocks that exhibit impressive movements for the future.

Indian households are reducing their debts at a faster pace than most emerging economies, making domestic consumption an attractive sector for investment, according to Zerodha co-founder Nikhil Kamath. Data shows household debt as a percentage of GDP fell from 42% in 2008 to 35.5% in 2022, while corporate debt dropped from 107.3% to 87.7%. Conversely, the government's debt rose from 71.6% in 2008 to 82.1% in 2022. As Indian companies have cut debt, there is room for further capital expenditure and less financial risk.

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. The article lists the top five liquid funds in terms of returns, namely Quant Liquid Direct Fund, Mahindra Manulife Liquid Fund Direct, IDBI Liquid Fund Direct, Aditya Birla Sun Life Liquid Fund Direct, and Baroda BNP Paribas Liquid Direct Fund.

From the Sensex pack, Bajaj Finserv, Tata Motors, Asian Paints, ITC, IndusInd Bank, SBI and Tata Steel were the top gainers, while Reliance, TCS, HDFC, HUL closed lower.

Closing Bell: Sensex snaps 2-day rally, ends flat; Nifty holds above 18,300; Adani stocks surge up to 13%, DLF drops 2%

Indian equity markets have become reasonable due to a moderation in the last 18 months and valuation risks appear to have been addressed, according to the founder of 3P Investment Managers, Prashant Jain. Jain believes there is not much room for multiples to increase and the vulnerability of the market from foreign outflows is lower. The profits to GDP ratio is almost back to 4.5-5%, and a 12-14% profit growth is sustainable unless Indian growth rates increase. Jain suggested there are very few places in the market where margins or profits can grow faster than topline growth.

Vedanta announces its first interim dividend of Rs 18.50 per equity share. May 30 has been fixed as the record date with the payout being Rs 6,877 crores. Over the past 5 financial years, Vedanta has paid out Rs 217.65 per share as a total dividend payout to investors. Vedanta reported a 67.5% YoY drop in its March quarter net profit at Rs 1,881 crores, with revenue from operations dropping 5.4% to Rs 37,225 crores. The company's EBITDA margin was 29% in Q4, down from 39% in March quarter of FY22.

Food delivery giant Zomato posted its Q4 earnings recently where it narrowed its year-on-year and sequential losses. Well, what does that mean? Should you buy, hold or sell - let's see what the top brokerages say. Watch!

Shares of budget airline, SpiceJet, have plummeted by over 20% on Tuesday due to its financial struggles and lessors pushing for the carrier to clear its dues. SpiceJet has also experienced various grounded planes, which has led to the defaulting of lease rental payments. The airline aims to return four out of the 25 grounded aircraft to operations by June 15 and more to follow in the next few weeks. While SpiceJet is targeting the return of planes, analysts have noted that the company's competitor, IndiGo, has gained 12% on a year-to-date basis.

Zomato's stock is exhibiting a bullish pattern after a prolonged consolidation phase, with potential upside of up to 45%. The company's improving fundamentals are likely to support its rise. Although Zomato's 12-month returns of 14.7% were a touch short of Nifty50's 15.8%, its shares have recaptured important simple moving averages. According to Rajesh Palviya of Axis Securities, the shares have been trading in a range between Rs 80 and Rs 40, with a "triangular" pattern formed on the weekly chart. Kotak Institutional Equities and top brokerages also have a "buy" stance on the stock.

It's always fascinating to see stocks that consistently perform well in the stock markets. ET Markets has identified five such stocks that have consistently provided a price return of over 25% in each of the last four fiscal years. These stocks have multiplied investors' wealth by 5-20 times in just the past four years. To make our selection, we only considered stocks with a market capitalization of over Rs 1,000 crore (Data source: ACE Equity). According to Trendlyne data, except for Sanmit Infra, the other four stocks display more strengths than weaknesses on the SWOT analysis.

GQG has been buyers in Adani Group stocks in the last few days. Have raised the stake to over $2bn in the process; ET NOW's Ajaya Sharma is here with the details.

Vedanta announces its first interim dividend of Rs 18.50 per equity share. May 30 has been fixed as the record date with the payout being Rs 6,877 crores. Over the past 5 financial years, Vedanta has paid out Rs 217.65 per share as a total dividend payout to investors. Vedanta reported a 67.5% YoY drop in its March quarter net profit at Rs 1,881 crores, with revenue from operations dropping 5.4% to Rs 37,225 crores. The company's EBITDA margin was 29% in Q4, down from 39% in March quarter of FY22.

India's insurance sector saw an 11% decline in Annual Premium Equivalent (APE) in April 2023 due to the rundown by the state-run Life Insurance Corporation of India (LIC). However, the long-term prospects of the sector remain strong as people are increasingly viewing insurance schemes as a risk-mitigation necessity, rather than just a tax-saving or investment tool. While LIC reported a 25% drop in overall APE, HDFC Life was relatively strong, as ICICI Prudential Life was weak and SBI Life Insurance Company was moderately down. Kranthi Bathini, Director-Equity Strategy at WealthMills Securities, suggested that the outlook for the insurance sector should improve by Q2/2024.

“Within five years, we would like to be one of the largest investors in Adani Group depending on the valuation, after the family,” Jain, GQG’s chief investment officer, said in an interview. “We would certainly want to be partners in any of Adani Group’s new offerings.”

Most of the MNC pharma companies have formed their subsidiary and a large majority of new drugs launched in India were via this route. This essentially meant that listed Indian companies were selling some brands in limited space.

Adani Enterprises has seen a 38% rally in the three days after the initial findings of the Supreme Court-led panel were released in the Adani-Hindenburg case. Adani Green Energy has also turned into a multibagger with a rise of 114% from its January lows, while shares of Adani Ports and Special Economic Zone have reached levels seen prior to the Hindenburg report, rising 8%. The Supreme Court panel did not find any regulatory lapse with respect to stock price manipulation as alleged by Hindenburg Research. Adani Total Gas and ACC are yet to see a visible recovery, rebounding only 14% from their 52-week lows.

The market value of all 10 Adani stocks has increased by around Rs 1.8 lakh crore in just three trading sessions due to investors perceiving the Supreme Court-appointed committee's report on Hindenburg allegations as a clean chit to the Adani Group. Adani Enterprises' shares are up around 38%, leading to a gain of around Rs 76,000 crore, while Adani Ports' shares have gained over Rs 25,000 crore in market capitalisation. Other top gainers include Adani Wilmar, Ambuja Cements and Adani Green Energy. The committee's report found no pattern of manipulation in the steep stock price rise of Adani companies.

Finolex Industries' stock price rose by 14% in a month, hitting a fresh 52-week high in May, and chart patterns suggest that the rally may not be over yet. Traders can buy the stock for a target of Rs 230 in the next 1-2 months, according to experts. The momentum helped the stock hit key moving averages, the Relative Strength Index is placed at 67.7, and MACD is above its center and signal Line, all positive indicators for the bulls. The stock has been in an uptrend since October 2022, and it recently broke out from a Descending Triangle pattern with strong volumes.

Shares of PB Fintech, the parent company of Policybazaar, rose 5.6% following a significant reduction in its Q4FY23 losses to Rs 8.9 crore, compared to last year's Rs 220 crore. Revenue from operations rose 61% YoY to Rs 869 crore. Brokerage firm Morgan Stanley gave an 'overweight' call on the counter, Kotak maintained an 'add,' and JM Financial recommended a 'buy.' Nuvama suggested a 'hold' for the stock. Morgan Stanley estimates that further premiums mobilized in the quarter were worth ~Rs40-50mn. However, contributions of such business to premiums and revenues were low.

Nifty witnessed a small phase of volatility but the bias of that volatility was still bullish, clearly indicating that the equation is still in favor of bulls. From a luggage maker to southern Indian based jewellery retail chain which was among the first to make foray into northern Indian markets have seen an improvement along with price action supporting the bulls. 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.

After underperforming the markets for more than nine months, some of the IT stocks are witnessing increased activity. Will they sustain or it is just another dead cat bounce. Stock Reports Plus, powered by Refinitiv, is a comprehensive research report that evaluates five key components of 4,000+ listed stocks - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores.

Mutual funds in India sold stakes in the country's 3 largest private banks in April, with ICICI Securities estimating that they sold over INR 14,000 crore ($1.9bn) worth of stakes in Axis Bank, ICICI Bank and HDFC Bank, while buying mortgage lender HDFC which is set to merge with the private bank. According to reports, funds also showed interest in IT firm Infosys after foreign investors dumped stocks in the business calling the recent Q4 earnings report "shocking." Investors are being advised to view their options with caution.

Vivriti Asset Management has secured debt financing from the International Finance Corporation and an anchor commitment from M&G Catalyst for its asset-backed securities fund, which has a target size of $250m. The Vivriti India Retail Asset Fund has already raised $106m from the two investors. Over the 10-year period, the fund will funnel international capital towards non-banking financial companies specialising in small- and medium-sized enterprise finance, used vehicle finance and microfinance.

Adani Ports shares surged 8% to hit a day's high of INR785.95 ($10.57), nearing pre-Hindenburg report levels, after a high-powered independent committee cleared the company of any irregularity in share trading. All 22 analysts with coverage have buy ratings for the stock, with the average target price INR834.2, Trendlyne data showed. Adani group has been in the news after a short-seller flagged a number of issues around the group's debt and inflated values. However, Adani stocks are not undervalued, said Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Top brokerage firms have released their recommendations for various companies. BofA Securities maintained an underperform rating on BPCL and Citi maintained a buy rating on Sun Pharma and Power Grid. Goldman Sachs retained its sell rating on Thermax, while Jefferies issued a hold rating on Shree Cement. Despite BPCL's Rs 7,840 crore Q4 PAT, BofA Securities maintained a target price of Rs 315. Citi believes that Sun Pharma is among the top picks in the Indian Pharma space.

Bharat Petroleum Corporation (BPCL) recorded a standalone net profit of INR 6,478 crore in Q4FY23. The figure more than doubled from the year-ago period on the back of growth in fuel marketing margins and refining margins. BPCL reported a net profit of INR 2,501 crore in Q4FY22. The company's Q4FY23 earnings beat estimates led by refining, with higher domestic sales. BofA maintained an 'Underperform' stance on the stock, while Nuvama has a 'Buy' recommendation, and HDFC Securities retained an 'Add' rating with a target price of INR 390.

Adani group stocks added nearly Rs 80,000 crore in overall market cap of its 10 listed companies on Monday riding on the Supreme Court-appointed expert committee's report which said that it could not conclude any regulatory failure on the part of Adani group companies.

Despite inflation, cost pressures and a weak global environment, 28 smallcap Indian companies have beaten challenges to report more than 20% YoY growth in earnings consistently in the last four quarters, according to ETMarkets. The publication's analysis considered smallcaps with a minimum capitalisation of INR 10bn ($15.5m). At least 10 of the 28 companies reported returns of more than 50% over the past year, including Apar Industries and Anant Raj.

"BOB reported a strong quarter on the back of strong business growth and lower provisions. We estimate FY25 RoA/RoE of 1.1%/16.4%. We reiterate our buy rating with a target of Rs 240," Sneha Poddar, Associate Vice President at Motilal Oswal Financial Services Limited, said.

Shares in Adani Group rose for a third straight day, with the flagship Adani Enterprises stock increasing by 10%. Adani Wilmar trailed closely with a spike in the share price. In addition, all 10 stocks were trading in positive territory at the beginning of the day. The surge came after a Supreme Court-appointed expert committee ruled out any regulatory failure by Adani Group firms. Investors view Adani Ports & Special Economic Zone as the best long-term investment followed by Ambuja Cement.

Adani Enterprises was the top gainer in Nifty as it rallied another 10% to Rs 2,558.70. Adani Ports added another 7% as all the 10 Adani stocks were in demand.

Sensex gains 150 points, tops 62K; Nifty above 18,350; Adani Enterprises surges 10%, Borosil tanks 6%; Vedanta, Yes Bank, Ambuja Cements are some of the top gainers in the morning trade.

Indian market is slated to trade higher driven by global cues. S&P BSE Sensex rose over 200 points, while Nifty50 closed above 18300. India VIX was up by 2.20% from 12.30 to 12.57 levels. Options data indicates a broader trading range between 18000 to 18500 zones, with an immediate trading range between 18150 to 18450 zones. Traders with a short-term horizon can buy JSW Steel, HCL Technologies, and DLF. While L&T, Bharat Electronics, HCL Technologies, and Bajaj Consumer are recommended by another expert.

A class-action lawsuit against Elon Musk, claiming he cheated Twitter shareholders multiple times during his $44bn purchase of the social media company last year, has been dismissed by US District Judge Charles Breyer in San Francisco. Breyer said the lawsuit's plaintiff, William Heresniak, lacked standing since he contested "wrongs associated with" Musk's buyout, rather than the buyout's fairness. He also found no evidence of Musk aiding two friends, Jack Dorsey and Egon Durban, then on Twitter's board, breach their fiduciary duties by favoring their interests with Musk's support.

Nifty futures on the Singapore Exchange traded 24 points, or 0.13 per cent, higher at 18,359.50, signaling that Dalal Street was headed for positive start on Tuesday. 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 JSW Steel and HCL Tech while Nooresh Merani has a buy/sell recommendation on HCL Tech and L&T for today's trading session. Check out the targets and stoploss.

The stock price of this company has been drifting lower since making a lower high at the Rs 1,620 level in February. Recently it has formed a U-shaped bottom in April and followed it up with a higher low in May, which confirms the reversal in trend and suggests a buying opportunity on sustenance above the Rs 1,280 level, which is the high between the two lows. The recent candle formed resembles a bullish Marubozu candlestick.

Three stocks have been banned for trade under Future & Options on Tuesday, May 23, due to crossing the 95% open interest on these stocks. The three stocks include Indiabulls Housing Finance, Manappuram Finance and L&T Finance Holdings (L&TFH). The Future & Options contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%.

Ashok Leyland's Q4 net sales are expected to increase by 35% YoY to Rs 11,786 crore, with net profit likely to decline 10% to Rs 807 crore. NMDC's Q4 revenue is expected to be in the range of Rs 5,789 crore, down 14% YoY, but profit is likely to jump 75% QoQ. Biocon's Q4 net sales are expected to rise 51%, with net profit likely to fall 58% to Rs 100 crore due to last year's quarter's high base. Biocon's biologics sales are predicted to double YoY to Rs 1900 crore.

In the Nifty200 pack, nine stocks' prices crossed above their 200 DMAs (Daily Moving Averages) on May 22, 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. Take a look:

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 3 major stocks that have established a Three Identical Cows pattern and signify bearish reversal. (Source: StockEdge)

Bulls are driving the domestic equity markets amid firm global cues and positive signals from India Inc's earnings. Select stocks are likely to deliver strong returns in the near term amid this backdrop, believe chart readers. Based on their recommendations, here are 9 stocks where one can ride the momentum:

The markets on Monday remained steadfast in the positive territory, with the Nifty ending the day with more than half a percent rise. The action in the markets, though, was largely in stock-specific areas.

On the candlestick screener, a bullish reversal pattern helps identify stocks that can move into an uptrend from a downward zone in the future. So, here are 4 major stocks that have established a hammer pattern and signify a bullish reversal. (Source: StockEdge)

With just weeks to go before the country runs out of cash, the standoff has become the key topic on trading floors on fears that a US failure to pay its bills will send shockwaves through markets and the global economy.

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