Closing Bell: Sensex extends gains to day 2, ends 318 pts higher; Nifty near 18,400; Ujjivan SFB, DLF surge 7% each.

At least 15 PMS funds delivered returns of at least 10% in April. Among them, Green Portfolio's Super 30 Dynamic Fund was the top performer with 17% returns. Negen Capital's special situations and technology fund followed with 13.63% returns, while Basant Maheshwari's equity fund, Hem Securities' SME fund, Invasset, Bonanza, Lake Water Advisors, Aequitas and Badjate Stock and Shares, and Samir Arora-run Helios Capital's India Rising Fund were also among the top gainers. Only two PMS funds had negative returns, while Hem Securities' India Rising SME Stars topped the returns chart for the last year with over 38% returns.

The Nifty Bank index is just 83 points away from its all-time high of 44,151.80, with all stocks trading in the green. Santosh Meena, Head of Research at Swastika Investmart, says the index has been showing strong leadership and is expected to reach a new high. HDFC Bank and State Bank of India have contributed to the positive momentum. However, Meena warns about potential profit-booking at current levels, and that the 20-day moving average could offer a support level on the downside. The S&P BSE Sensex and Nifty50 were also trading positively, and 14 of 15 sectoral indices were in the green.

ETMarket's analysis of BSE smallcap stocks reveals that 12 stocks from the have shown a consistent increase in prices, trading volumes, and delivery volumes over the last three sessions. Notably, out of these stocks, five have demonstrated a double-digit price increase. This is indicative of a bullish trend in these stocks, as it suggests that not only are the prices rising, but the volumes and delivery volumes are also increasing, thereby indicating a heightened level of investor interest in these particular securities. (Data Source: ACE Equity)

The Sensex-30 derivatives are made up of 30 of the largest and most actively traded companies on BSE.

Tyres stocks have been in limelight with them witnessing sharp up move even before this phase of rally started. The supplier of raw material to these tyre companies also should see an increased demand. These are B2B players which are into manufacturing carbon black. The word B2B is normally associated with the digital world, but there are many companies whose products go as consumable or what is commonly called as raw material in the manufacturing sector.

Despite BJP's loss in the Karnataka Assembly election, Nifty crossed 18,400 and Nifty Bank reached near an all-time high. Experts suggest that the result would not affect the 2024 Lok Sabha elections. The analysis of seven state elections of 2018/19 reveals that national parties gain substantial vote share in national elections versus state elections. Analysts expect the government to turn populist over the next 12 months, and consumer staples are expected to benefit from this shift. They advise a long-term overweight call on industry and banks.

The Securities and Exchange Board of India (SEBI), in a court filing, said it has already approached eleven overseas regulators for information to examine if the Adani group had violated any norms regarding its publicly available shares.

Japanese shares closed higher, with the Nikkei gaining 0.8%, its highest in 1-1/2 years, supported by upbeat company earnings and yen weakness. Topix rose 0.9% to nearly a three-decade high. The U.S. dollar gained against major currencies, particularly the yen, boosting exporters' shares. Cosmetic maker Shiseido, beer manufacturer Asahi Group, phone company NTT, SBI Shinsei Bank, and bearings-maker NSK were among those reporting strong earnings that boosted individual stock prices. However, medical equipment maker Olympus and Rakuten Group failed to perform, holding back further Nikkei gains.

Bharat Petroleum Corporation Limited (BPCL) has recorded a breakout from an ascending triangle formation on its weekly charts, opening up potential for the stock to reach INR 400 levels. Short-term traders are suggested to buy the stock for a possible target of INR 400 in the next 3-4 weeks. The stock formed a strong base above INR 288 levels and is trading below short-term moving averages such as 5 and 10-DMA on the daily charts but above 30, 50 and 200-DMA. Momentum indicator RSI has given a range breakout, which has bullish implications.

DLF shares inched up 5.4% to touch a fresh 52-week high of INR459.6 ($6.30) on 17 May 2021, after the developer reported a 41% YoY rise in net profit to INR570 crore ($77.9m) for Q1 2021. The boost was driven by the jump in DLF’s EBITDA by 8% to INR397 crore ($54.3m) YoY. The company's margins stood at 27.4% during the same reporting period. While DLF's revenue from operations slipped 6% to INR1,456 crore ($199m), the company's scrip rallied roughly 40% in the past year.

For a short period volatility came back on the street and it was appearing that bias would turn toward bears. During this period there where stocks 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.

In the NSE list of stocks with a market cap of over Rs 1000 crore, nine stocks crossed their previous five-year high value at the close on May 12, suggesting bullishness in counters, according to stockedge.com's technical scan data. Take a look

Adani Group's stocks have fallen following the appointment of a panel to examine regulatory compliance violations and disclosures. Adani Enterprises was down 3.45% at INR 1,896.95 while Adani Total Gas fell 4.77% to trade at INR 779.30. Adani Transmission was down by 3.61% at INR 852.85, Adani Green Energy dropped 1.98% to INR 877.90, while Adani Wilmar dipped 1.36% to INR 386.90. ACC, Ambuja Cements and NDTV's shares were also down between 0.7% and 1.5%. The Special panel's report was submitted to India's Supreme Court, which is now hearing the matter in which stock regulator SEBI was given three months to complete its probe.

Tata Motors' Q4FY23 earnings report showed a net profit of Rs 5,407.8 crore compared to a loss of Rs 1,032 crore in Q4FY22, which led to a rise of over 4% in the company's shares. Top brokerages including Jefferies, Nuvama, Emkay, and Prabhudas Lilladher have a 'Buy' recommendation on the counter.

In the Nifty500 pack, these six stocks closed above their 200 DMAs (Daily Moving Averages) on May 3, 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:

Tata Communications shares are expected to break out of a narrow trading range soon. The major long-term trend remains bullish, and the stock has given returns of 29% over a year, outperforming the Nifty50 by 13%. The consolidation has become narrower over the past 8-10 months, and any range breakout on either side may confirm the stock's further direction. The daily, weekly, and monthly Relative Strength Index remains flat, indicating a lack of strength on either side. Kotak Institutional Equities maintains an "Add" stance with a revised target price of Rs 1,300, while Motilal Oswal has a "Neutral" recommendation with a target price of Rs 1,200.

Shares of DMart fell by up to 5% after the company's Q4 EBITDA and margins fell short of expectations. Despite an increase in consolidated PAT by 8%, YoY revenue increased by only 21% due to a decline in gross margins to 13.4%, YoY and QoQ. This was due to the inferior mix of products. Brokerages have reduced their target prices on the stock. Prabhudas Lilladher remains optimistic with a Buy rating and target price of Rs 4,447, citing DMart's potential to expand their store count and D’Mart Ready.

“We are bottom-up stock pickers with a style bias towards growth at a reasonable price, and manage around Rs 4,586 Crores invested in Indian equities. This is best demonstrated when we discover stocks early in their growth cycle before the broader market chances upon them,” Rajnish Girdhar, CEO, Karma Capital, said.

Adani Enterprises Ltd. and Adani Transmission Ltd., two companies of Gautam Adani’s group, have received approval to raise up to $2.6bn in a Qualified Institutional Placement. The board of the flagship company, Adani Enterprises, approved up to $1.5bn, while Adani Transmission can seek up to $1.1bn via similar means. The shares of Adani Group were hit by allegations of accounting fraud and stock manipulation by US short-seller Hindenburg Research earlier this year. The move to raise funds comes as the group looks to win back investors and continue its comeback strategy.

In the NSE list of stocks, four stocks with a market cap of over Rs 1000 crore have been 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. The 50-day simple moving averages (SMA) of these stocks crossed their 200-day SMAs on May 12.

Bharti Airtel is expected to benefit from a migration of subscribers from Vodafone India and Bharat Sanchar Nigam Limited in India, according to analysts. Bharti Airtel, along with Reliance Jio Infocomm, are likely to gain as the sector consolidates. The sector is moving away from three to four fights to a duopoly, the analysts from Prabhudas Lilladher said. The telecoms industry lost 1.1 million net wireless subscribers in February, according to regulator TRAI, but Jio and Bharti each gained a million.

India’s Adani Group faces a court-monitored investigation by the Securities and Exchange Board of India (SEBI) into alleged corporate-governance violations in the wake of a short-seller report. Despite company sales data and emerging-market investor support validating the company's reputation, Adani remains under regulatory scrutiny. As the SEBI weighs enforcing penalties and fines, Adani Enterprises and Adani Transmission are preparing to launch a fundraising offering that will seek to help the companies overcome the fallout from the allegations and compensate for the loss incurred by the collapse of the group's public offering in January.

Sensex gains 150 points, Nifty above 18,350; Tata Motors jumps 4%, Dish TV tumbles 5%; Future Consumer, Tata Motors, Ujjivan Small Finance Bank are some of the top gainers in morning trade.

Jefferies maintained an underperform rating on Hindustan Petroleum Corporation Limited (HPCL) citing weak marketing and transitory refining weakness. CLSA retained a buy rating on Manappuram Finance as yields fell but growth became visible. Credit Suisse upheld an underperform rating on Dr Lal Pathlabs despite the likelihood of short-term growth favored by geographical diversification and higher pricing.

From the Sensex pack, Tata Motors was the top gainer, rising 5% after the firm reported a net profit of Rs 5,407 crore for the March quarter against a loss of Rs 1,032 crore in Q4FY22. Asian Paints, Power Grid, L&T, Nestle, Infosys, HUL and Tech Mahindra also opened higher.

Six Indian stocks, including Bharat Heavy Electricals, Delta Corp, Gujarat Narmada Valley Fertilizers and Chemicals, Manappuram Finance, Canara Bank and Punjab National Bank, have been placed under a futures and options (F&O) trade ban. The F&O contracts of a stock are placed in this ban period when the open interest on it is higher than 95% of the market-wide position limits or MWPL. The ban continues until the open interest falls below 80%.

The S&P BSE Sensex rose over 100 points and Nifty50 closed above 18300 on Monday, as the Indian market tracks mixed global cues. The India VIX dropped by 2.78%, which is reassuring for buyers in the marketplace. The weekly maximum call OI is placed at 18300 and then towards 18500 strikes, while the maximum put OI is placed at 18200 and towards 18300 strikes.

Positive global cues led to the Indian market closing higher, with the S&P BSE Sensex gaining over 100 points and the Nifty50 closing above 18300 levels. The auto, banking, and FMCG sectors saw buying, while power, oil & gas, and utility stocks saw selling. Zensar Technologies and Glenmark Pharma are among the stocks that witnessed a surge in prices, and Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd., recommended buying these two stocks. Gour also recommended buying Tata Motors, which has been consolidating over the past 1.5 years.

The price of this company has fallen from the January peak of Rs 124 and was attempting a bounce back making a lower high at Rs 112. Now the price has given a rising-wedge breakdown by breaching the lower-trendline support. The price has formed a bearish Marubozu candle and its volume has also increased, which increases the probability of the pattern working out.

Nifty futures on the Singapore Exchange traded 54.5 points, or 0.30 per cent, lower at 18,269.50, signaling that Dalal Street was headed for negative start on Monday. Here are some stocks which are expected to see some action in trade today.

On Friday, the markets opened low and remained in a struggle to show a better performance. The Nifty, after hitting a low point early, ended the day with a marginal gain of one-tenth of a percent. The Banknifty outperformed the headline index.

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 ICICI Bank and DLF while Nooresh Merani has a buy/sell recommendation on L&T and Apollo Hospitals for today's trading session. Check out the targets and stoploss.

​​In the pharmaceutical sector, fewer incidents of regulatory breaches and attractive valuations drove fund managers to add stocks such as Alkem Laboratories, Ajanta Pharma, and Dr Reddy’s Laboratories.

Asian stocks opened cautiously on Monday due to the uncertainty surrounding China's policy rate decision and economic data. Investors await U.S. Federal Reserve's meeting outcomes, who are expected to discuss the rate cuts it would implement this year. The market is still expecting 70 basis points of cut by the end of the current year. With the US's inflation persisting, the market expects a recovery in the dollar in the coming months.

Adani Enterprises and Adani Transmission today announced that they would raise funds totalling Rs 21,000 crore through the qualified institutional placement (QIP) route.

Option data suggests a broader trading range in between 17900 to 18500 zones while an immediate trading range in between 18150 to 18450 zones.

Data from the Insolvency and Bankruptcy Board of India (IBBI) showed that out of the total admitted claims of Rs 1.42 lakh crore, creditors realised rs 51,425 crore in FY23, compared to Rs 49,208 crore realised from admitted claims of Rs 2.14 lakh crore a year ago.

The ARC lobby group has been asking the authorities to relax these norms for small-ticket loans. The process may be followed only in case of high-value corporate loans beyond a threshold.

A recent surge in leveraged positions betting that Treasury futures will fall - at a time when Wall Street is increasingly confident that a US recession will soon spur rapid central bank interest-rate cuts - smacks of so-called basis trading, market watchers say. That's when hedge funds seek to profit from a mismatch in pricing between Treasury futures and the deliverable note or bond.

The proposed mechanism would not be applicable to the delisting of non-convertible debt securities of a listed entity that have been delisted by the stock exchanges as a consequence of any penalty or delisted under a resolution plan approved under the IBC.

The company works "with pharmaceuticals, life sciences, biotechnology, agrochemicals, and specialty chemicals companies to deliver active ingredients, intermediates and R&D services," according to its website.

"Our markets may react negatively and if the markets need an excuse to fall, it will take cues from the Karnataka state polls," said Andrew Holland, CEO of Avendus Capital Alternate Strategies.

Make no mistake, the risk is real. Treasury Secretary Janet Yellen said Friday that the US will "have to default on some obligation" if Congress doesn't raise debt limit. It's just equity investors don't seem to care.

Any throwbacks toward 17,800-17,900 levels could present better re-entry opportunities and improved risk-reward setups. At the same time, only a follow-through above the resistance can take the index toward all-time highs. Bank Nifty is near its lifetime highs and might face psychological resistance at the 44,000 mark. We are in a secular uptrend, and any dips can be used as incremental buying opportunities.

The stock rose from Rs 709 recorded on May 12, 2022, to Rs 1555 as of May 12, 2023 which translates into an upside of 119% in one year.

"Varun Beverages stock price has been making higher highs - higher lows from the last three months and consistently shifting its base to higher zones. Any declines are being converted into buying opportunity and it is holding well at its all time high levels," Shivangi Sarda, Analyst, Derivatives and Technical Research, Motilal Oswal Financial Services Ltd, said.

High portfolio churn is conventionally perceived to have a negative impact on investment returns, due to the shorter holding periods for good stocks. However, advanced technology, such as AI, has disrupted this practice. The decision of how much of the portfolio to churn is a function of the returns that an investor can generate from that churn. Recent advances in AI provide investors with more personalized investment capabilities and, ultimately, greater potential returns. As a successful investor, it is important to be both active and passive.

Benchmark indices ended the last week on a positive note after recovery towards the latter half despite mixed global trends. With corporate earnings in the last phase, stock specific action is likely to continue going forward.Further analysts say strong domestic economic data will likely keep markets in upbeat mode."The consistent inflow of funds from foreign institutional investors due to falling US bond yields and the weakness of the dollar helped in controlling the downward pressure in the domestic market," said Vinod Nair, Head of Research at Geojit Financial services.Here are stock recommendations for Monday.

Mutual fund activity has seen significant churn in the month of April with many additions and reductions in the small and midcap space. However, some stocks have found favour from domestic fund houses for three consecutive quarters. Take a look. Source: Nuvama Institutional Equities