Foreign institutional investors (FIIs) have increased their purchases of shares in India, leading to a revival of the Indian stock market and making it one of the best performing emerging markets. In April alone, FIIs purchased INR11,630 crore ($1.7bn) of shares, compared with INR7,935 crore the previous month. This was based on a series of factors including easing inflation both in India and the US, the Reserve Bank of India's decision to pause rate hikes, and a good set of March quarter earnings. Financial services, automobiles and fast-moving consumer goods were among the top sectors receiving investment.

From the Sensex pack, IndusInd Bank, Tata Motors, and Power Grid were the top gainers, rising over 1% each. HCL Tech, Reliance, UltraTech Cement, ICICI Bank and L&T also opened higher. Whereas, SBI, Tata Steel, HDFC, Titan and Airtel opened with cuts.

Sensex gains 100 points, Nifty tops 18,300; Sanofi jumps 3%, Mankind Pharma drops 2%; Indiabulls Real Estate, Shipping Corporation of India, Ircon International are some of the top gainers in the morning trade.

Several Indian companies, including Larsen & Toubro, Godrej Consumer Products, and Dr Reddy’s Laboratories, are expected to record double-digit growth in their topline and bottomline figures for the March quarter due to healthy execution and strong order books. L&T’s core engineering business is expected to drive the topline with a healthy opening order book. Meanwhile, Revlimid, the cancer drug, is expected to have contributed significantly to growth in Dr Reddy’s US sales.

The Indian market is expected to rise on Wednesday following positive global signals, with the Sensex and the Nifty50 closing flat on Tuesday. The weekly maximum Call OI is placed at 18,300 and then towards 18,400 strikes while the maximum Put OI is placed at 18,200 and then towards 18,100 strikes. Stocks recommended by analysts with short-term horizons include Metropolis Healthcare, Laurus Labs, Chambal Fertilisers, Axis Bank, Coal India, Tata Communications, AU Small Finance Bank, Divi's Laboratories, and Naukri.

Nifty futures on the Singapore Exchange traded 37 points, or 0.20 per cent, higher at 18,348, signaling that Dalal Street was headed for positive 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 AU Small Finance and Divi's Lab while Nooresh Merani has a buy/sell recommendation on Coal India and Axis Bank for today's trading session. Check out the targets and stoploss.

The markets on Tuesday went into a corrective mode with the Nifty seeing offloading of shares in the second half of the session, closing almost flat. Again, stock- specific opportunities are seen emerging.

Shares of Bharat Heavy Electricals, Gujarat Narmada Valley Fertilizers and Chemicals, Manappuram Finance and Canara Bank are under futures and options (F&O) ban for trading on Wednesday. However, the stocks will be available for trading in the cash market. The F&O ban is in place when the open interest crosses 95% of the market-wide position limits. The ban lifts when the open interest falls below 80%. Meanwhile, the Karnataka assembly election, Q4 earnings and US inflation data are being closely monitored by investors.

In the Nifty200 pack, five stocks' prices crossed above their 200 DMA (Daily Moving Averages) on May 9, 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:

PTC India and its financial services unit, PTC India Financial Services (PFS), have been given 21 days by India's market regulator, the Securities and Exchange Board of India, to respond to legal notices issued to them regarding alleged corporate governance lapses. Investigations by the regulator reportedly unveiled preliminary evidence of governance and listing norm violations. The regulator's investigation resulted from allegations levelled by three independent directors of PTC India Financial Services in January.

PayPal late on Monday estimated adjusted operating margin expansion of 100 basis points this year, compared with its earlier forecast of 125-basis-point growth. The company is focusing on enterprise-focused unbranded checkouts, which are less profitable than its own branded checkout button.

New York Federal Reserve President, John Williams, has said that it is too early to conclude whether the Fed is done with interest rate hikes, observing that any additional policy firming may be required to curtail inflation. Williams maintained that the vibrant job market remains strong and expects the economy to grow moderately this year. However, he anticipates that the inflation rate will fall to 3.25% this year and return to the 2% target by 2025. At the moment, traders are still pricing in the strong possibility of a rate cut this year, with many forecasting that the Fed will remain unchanged during its June meeting.

Asian stocks struggled to advance as investors awaited US consumer price data that could dampen hopes for interest rate cuts this year, if inflation fails to decline significantly. The greenback was steady. The Nikkei fell 0.4%, the MSCI's Asian-Pacific index fell 0.3%, and the S&P 500, which fell 0.5% overnight, saw futures remain steady in Asia's morning trading. The current belief is that economists will expect the headlines of April's US consumer price data to remain steady, but sticky figures could derail investors' bets that interest rates will drop.

The Indian stock market ended mixed on Tuesday. S&P BSE Sensex was flat while the Nifty50 managed to maintain 18250 levels. Telecom, IT, and auto stocks witnessed buying while selling was seen in public sector, utilities, and realty. Stocks like Mahanagar Gas, Indraprastha Gas, and Firstsource Solutions were up. Experts recommend buying MGL, IGL, and FSL on current dips as they are looking good on the chart and more upside can be seen in the next 6-8 months.

US stock indexes closed lower as investors turned cautious ahead of economic reports and a meeting between political leaders to discuss the debt ceiling. The market was anxiously waiting for the US consumer price index report, which will give an insight into whether inflation is easing, and for the meeting between US President Joe Biden, Republican House Speaker Kevin McCarthy, and other congressional leaders, to discuss the debt ceiling.

In the last four months, at least six members have faced the issue of a freeze on their client bank accounts, according to ANMI. The settlement process of a large mutual fund was also stalled recently after a client filed a complaint against a broker with the Mumbai police.

The fast moving consumer goods major is seen reporting a double-digit growth in the consolidated net profit for the March quarter, on the back of a similar growth in the topline.

An expert panel investigating the Adani Group following allegations of financial irregularities has submitted a report to India’s Supreme Court. It is not clear if the six-member committee, set up after claims by US research firm Hindenburg, reviewed all the concerns outlined by the top court in March. The group was asked to assess how to protect consumers better, if regulatory lapses existed, and the broader impact. The Securities and Exchange Board of India has also sought more time to conclude its probe.

Kotak Mahindra Bank will provide a ₹1,200 crore term loan at 16-17%, which will be used to repay debt raised from Goldman and Varde at 21%, the same person said.

​​The strong inflows more than made up for the $4.1 billion outflow in the first two months of 2023, eking out a $404 million net inflow for the calendar year so far.

The Indian Banks’ Association has approached the Reserve Bank of India (RBI) to facilitate capital relief for banks and financial institutions (FIs) in order to boost trade credit insurance penetration in the trade finance line of business. This move is expected to propel forward factoring and bill discounting products that are backed by trade credit insurance.

Analysts said the disruption by ONDC, where consumers are buying food and grocery at cheaper prices, has hurt investor sentiment in loss-making Zomato.

In the last four months, at least six members have faced the issue of a freeze on their client bank accounts, according to ANMI. The settlement process of a large mutual fund was also stalled recently after a client filed a complaint against a broker with the Mumbai police.

JPMorgan believes the $45 billion worth of investments and capex across business verticals to be fully value accretive by FY25. This is not priced in by the current stock price which offers an attractive risk-reward, the brokerage said.

The company’s daily trend is bullish to sideways. Based on the options chain analysis, the range is between Rs 4,500 and Rs 5,500. Let us plan a trade around this.

Chart patterns suggest bullish trends still remain in Indian Energy Exchange stock. Short-term traders may look to purchase the stock now or on marginal dips and aim for a target of Rs 178 in the next 1-2 months.

"IEX has been trading in a corrective phase for the last one and a half years and the last six months of price action resulted in the formation of a broadening formation. It has witnessed a breakout from the same now. Participants can consider accumulating in the range of Rs 157-162," Ajit Mishra, VP - Technical Research, Religare Broking Ltd., said.

The Securities and Exchange Board of India (Sebi) observed large-scale reversal of trades in the illiquid stock options segment of BSE, leading to the creation of artificial volumes on the bourse.

The Sensex closed unchanged on Tuesday, edging up by just 2 points to settle at the 61,761 level. Within this trading session, nine stocks from the BSE consumer discretionary index achieved new 52-week highs. This particular milestone is a significant technical indicator for certain investors and traders as it helps determine a stock's present value and forecast its future price trends. A stock's 52-week high signifies its peak trading price over the previous year.

Indian market regulator SEBI has issued legal notices to government-owned companies PTC India and PTC India Financial Services, demanding explanations on alleged corporate governance lapses. The two firms have been given 21 days to respond to the show cause notice that requires them to explain why action should not be taken against them. SEBI had found preliminary evidence of alleged violations of governance and listing norms. Following the response from the firms, the market regulator will pass a final order that could include monetary penalties or a ban from the capital markets.

Nexus Select Trust, owner of India’s largest mall assets, has launched its IPO to raise Rs 3,200 crore. Malls such as Select Citywalk, Elante Mall come under its umbrella. Upon listing, Nexus will be India’s first REIT with rent-yielding retail real estate assets. Should you subscribe to Nexus Select Trust IPO or not? Let's find out.

The Dow Jones Industrial Average fell 28.84 points, or 0.09%, at the open to 33,589.85.

HPCL is engaged in the business of refining crude oil and marketing petroleum products. Its market capitalisation is Rs 36,194 crore.

With the Reserve Bank of India shifting to a rate cut stance, it is a good time to invest in debt funds. Here are five debt funds that have outperformed conventional fixed deposits in terms of returns. These include the Aditya Birla Sun Life Medium Term Direct Plan-Growth Fund, Bank of India Short Term Income Fund Direct-Growth Fund, Aditya Birla Sun Life Dynamic Bond Retail Fund Direct-Growth Fund, Nippon India Nivesh Lakshya Fund Direct-Growth Fund, and Aditya Birla Sun Life Credit Risk Fund Direct-Growth Fund. The minimum investment required in these funds ranges from Rs. 100 to Rs. 5,000, with minimum SIP investment starting at Rs. 100.

The Nifty formed a small-bodied bearish candle on Tuesday and remained indecisive between bulls and bears. The hourly Nifty time frame chart showed a negative divergence formation in RSI. However, the index needs to hold above the 18181 zones to see an up-move towards the 18350 and 18500 zones, while support is at 18181 and 18081 marks. India VIX increased from 12.64 to 12.67 levels, resulting in a muted market movement, while options suggest a broader trading range of 17800 to 18500 zones. Experts suggest that the Nifty outlook is positive, and trade should take place between 18150 to 18350 levels.

Indian shares were little changed on Tuesday after financials sparked a sharp rise in the previous session amid a rush of corporate earnings and ahead of key macroeconomic data. The Nifty50 closed 0.01% higher at 18,265.95, while the S&P BSE Sensex shed 3 points to end at 61,761.33. Both the indexes had risen over 0.4% during the session. Top gainers from the Nifty pack included stocks like Divi’s Labs, Coal India, IndusInd Bank, Axis Bank, and M&M, while laggards were UPL, ITC, SBI, and Bajaj Finance.“The short-term trend of Nifty remains positive. But, the signs of tiredness have become visible at the important resistance of 18300 levels. Some more consolidation or minor downward correction is not ruled out in the short term before showing another round of upside bounce from the higher lows. Immediate support is at 18100 levels,” Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said.Here are stock recommendations for Wednesday:

Adani Ports and Special Economic Zone, the ports company of Gautam Adani's Adani Group, will prepay $130m of debt and accept a principal amount of $412.7m through purchasing validly tendered 2024 bonds. The purpose of the tender is to repay near-term debt, show comfortable liquidity and improve investor confidence after the group faced allegations of accounting fraud and tax-haven use for stock manipulation.

Closing Bell: Sensex ends flat, Nifty below 18,300; Mahanagar Gas surges 7%, Bank of Baroda drops 3%

In the Sensex pack, ITC, SBI, Bajaj Finance, and NTPC were the top laggards, falling 1-2%. Power Grid, ICICI Bank, Sun Pharma, Kotak Bank, and UltraTech Cement also closed with cuts. On the flip side, IndusInd Bank, TCS, Axis Bank, Tata Motors, and M&M settled in the green.

Brokerage ICICI Securities has foreseen revenues to grow 64% YoY in the March quarter, driven by strong growth in eSports, gamified early learning and ad-tech segments, while the brokerage is bullish on the stock and has a 'buy' rating.

The S&P BSE Sensex breached the psychological 62,000 mark on Tuesday, just 2.5% away from the December 2022 all-time high. Chief Investment Strategist at Geojit Financial Services VK Vijayakumar warned investors on the valuation front, saying that the upside to the market was likely to be capped despite the momentum being with the bulls.

The S&P BSE Sensex breached the psychological 62,000 mark on Tuesday, just 2.5% away from the December 2022 all-time high. US economy strength, outperformance of Indian markets, foreign institutional investors' action supporting Indian equities, Q4 earnings outperforming estimates and record macro indicators such as GST collections and April Services PMI are among the five key factors behind the market rally. Chief Investment Strategist at Geojit Financial Services VK Vijayakumar warned investors on the valuation front saying that the upside to the market was likely to be capped despite the momentum being with the bulls.

ETMarkets' shareholding scan has identified 86 smallcap stocks that have seen a consistent increase in stakes by retail investors over the last four quarters of FY23. To narrow down the selection, stocks that have gained over 25% in the past year have been considered, resulting in only six stocks making the cut. Retail investors in this context refers to resident individuals holding nominal share capital ofup to Rs 2 lakh. An increase in their shareholding is indicative of their confidence in the company's future prospects. (Data Source: ACE Equity)

Brokerage ICICI Securities has foreseen revenues to grow 64% YoY in the March quarter, driven by strong growth in eSports, gamified early learning and ad-tech segments, while the brokerage is bullish on the stock and has a 'buy' rating.

"Indiabulls Real Estate (IBREL) regrets to inform its shareholders and the public that the sanction to the merger of NAM Estates Private (NAM Estates) and Embassy One Commercial Property Developments (Embassy One) into IBREL has been withheld by the Hon’ble National Company Law Tribunal (NCLT), Chandigarh Bench," Indiabulls said in an exchange filing.

Hero MotoCorp has surpassed an inverse head and shoulder pattern, according to experts. The company recorded the breakout on the daily charts, giving room for the stock to reach the INR 2,700 price level. The start of 2023 saw the stock's resistance at INR 2,500, but after some corrections and reaching INR 2,400, the price action created an inverse head and shoulder pattern. Experts predict a bullish price pattern, topping at INR 2,720 in the following 3-4 weeks if the price remains over INR 2,400.

The stock is down 3% so far in 2023 compared with a gain of 1.5% in the S&P BSE Sensex Index, hurt in part by a decline in crude prices. Thirty-three of the 38 analysts that cover the conglomerate have buy ratings, with many citing attractive valuations as well as optimism for its various oil-related, consumer and telecom businesses.

Swiss banking giant, UBS, has confirmed that Ulrich Koerner, CEO of Credit Suisse will join its board following the acquisition of its domestic rival. The Swiss government imposed the takeover for $3.25bn, prompted by the concern that Credit Suisse may also encounter financial difficulty following a series of scandals. Koerner will be the only executive from Credit Suisse to stay on board at UBS, and will be responsible for managing the integration process and ensuring Credit Suisse’s operational continuity. The merger is expected to be completed in the next few weeks. UBS CEO Sergio Ermotti said it will take time for the integration of the businesses and legal entities.

The stock is down 3% so far in 2023 compared with a gain of 1.5% in the S&P BSE Sensex Index, hurt in part by a decline in crude prices. Thirty-three of the 38 analysts that cover the conglomerate have buy ratings, with many citing attractive valuations as well as optimism for its various oil-related, consumer and telecom businesses.