"There is a lot of discomfort about market valuations at current levels, while foreign investors are also not bullish," said Siddarth Bhamre, head-research, Religare Broking. "It may not be a good idea to make aggressive purchases at current levels."

“Participants noted that, because monetary policy worked importantly through financial markets, an unwarranted easing in financial conditions, especially if driven by a misperception by the public of the committee’s reaction function, would complicate the committee’s effort to restore price stability,” according to minutes of the Federal Open Market Committee’s Dec. 13-14 meeting released in Washington on Wednesday.

After the deal goes through, Ant -- in which ecommerce titan Alibaba has a stake -- will have contributed a total of 9.25 billion yuan and control half of its shares

At 10:28 a.m. ET, the Dow Jones Industrial Average was down 37.17 points, or 0.11%, at 33,099.20, the S&P 500 was up 0.44 points, or 0.01%, at 3,824.58, and the Nasdaq Composite was down 26.38 points, or 0.25%, at 10,360.61

"In my view ... it will be appropriate to continue to raise rates at least at the next few meetings until we are confident inflation has peaked," Kashkari said in an essay posted on the regional Fed bank's website, even as he noted increasing evidence price pressures appear past their worst.

"M&M Finance finally witnessed a breakout from the same in July 2022 but the move fizzled out after the initial uptick. After retesting the upper band of the channel, it rebounded strongly again and now inching toward its record high," Ajit Mishra, VP - Technicals, Religare Broking, said.

That was the weakest reading since May 2020, when the economy was slammed by the first wave of COVID-19 cases, and pushed the index just below the 48.7 level, which the ISM says is consistent with a recession in the broader economy.

It has an asset base of over Rs 60,000 crore in 10 states across the parent company and two Infrastructure Investment Trusts (InvITs), IRB infrastructure said.

The Dow Jones Industrial Average rose 28.77 points, or 0.09%, at the open to 33,165.14

The People's Bank of China will step up financing support to spur domestic demand and support a stable real estate market, its statement read

The stock is seen to be breaking out of a downwards sloping trendline after making a Double Bottom pattern at an important support zone on the daily timeframe after 12 months. The RSI indicator is also seen to be making a double bottom formation near its support zone, which can be used to boost the bullish view. The 200 EMA is at Rs 692 and the stock is comfortably trading above it whereas momentum oscillator RSI (14) is around 56 on the daily time frame, indicating strength by sustaining higher levels. Observation of the above factors indicates that a bullish move in the stock is possible for targets up to Rs 880. One can initiate a ‘buy trade’ in the range of Rs 815-817 with stop loss below Rs 775 on daily closing basis.(Mitesh Karwa, Research Analyst, Bonanza Portfolio)(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Benchmark index Sensex tumbled about 635 points to conclude Wednesday trading at 60,657. Despite this free fall in the markets, 10 stocks from the BSE small-cap index managed to touch new 52-week highs.The 52-week high is the highest price at which a stock has traded during the last year. Some traders and investors use this technical indicator as an important factor to analyse a stock's current value and to predict its future price movement.

The People's Bank of China will step up financing support to spur domestic demand and support a stable real estate market, the central bank said in a statement after a meeting.

Technical patterns suggest that the momentum is likely to continue on the upside and short-term traders can buy the stock now for a target of Rs 270, suggested experts

The overall tone of the minutes is still likely to show inflation has top billing among policymakers. It has been slowing for several months, but as of November the Fed's preferred inflation gauge - the personal consumption expenditures price index - was still rising at a 5.5% annual rate, more than twice the U.S. central bank's 2% target.

Option data suggests a broader trading range between 17,800 and 18,500 zones with an immediate trading range between 17,900 and 18,250 zones.

Market benchmarks Sensex and Nifty tumbled 1% on Wednesday ahead of the release of Fed meeting minutes late at night and amid continuous foreign fund outflows, a weak trend in index majors Reliance Industries and HDFC Bank. All sectoral indices reeled from selling pressure.The 30-share BSE Sensex slumped 637 points to settle at 60,657.45. Nifty at the close settled with a drag of 1% at 18,043. From the Nifty pack, Divis Labs, HDFC Life, Maruti Suzuki and UltraTech Cement were the top gainers.Here are the stocks that hogged the limelight today:

In respect of the stock split, the record date has been fixed as January 10, 2023. The company, in its filing with the exchanges on December 29, intimated about the record date and said, "We would like to inform to the exchange that Board of the Directors of the Company

Sensex ends 636 points or 1.04% lower at 60,826, and Nifty 50 closes with cuts of 190 points or 1.04% at 18,127

The 1-month lock-in expires for Dharmaj Crop Guard, Uniparts India, Sula Vineyards, Landmark Cars, KFin Technologies and Elin Electronics, stated Nuvama Alternative & Quantitative Research in a report.

The company's clients include foreign, private, and public sector banks, and the end-user of its services include some of the largest e-commerce companies, retail chains, NBFCs, insurance firms, according to information available on the firm's website.

Sensex ends 636 points or 1.04% lower at 60,826, and Nifty 50 closes with cuts of 190 points or 1.04% at 18,127

For a business to expand and grow, it is essential to infuse fresh cash into it, but a heavy debt on the balance sheet is what no companies wish, rather it’s something they dread.ET Markets found six companies that have reduced their debt by over 25% in FY22 on a year-on-year (YoY) basis while their sales and profit growth numbers rose over 25%. We have excluded entities whose total debt and sales amount was below Rs 100 crore in FY21. Only stocks with a current market cap of over Rs 5,00 crore have been added to the list.From the BSE universe, 34 companies have made the cut. Interestingly, 6 stocks from the list have gained anywhere between 50 and 90% so far in FY23 (Data Source: ACE Equity).

Closing Bell: Sensex snaps 2-day rally, crashes 637 points; Nifty below 18,050; JSW Steel sheds 4%, Wipro 2%.

The price requirement is as per the current global market capitalisation cut off levels, and these levels change on a daily basis. The market cap cut-off date will be any one day in the latter half of January, the brokerage said.Shares of Power Finance Corp have risen nearly 14% since December. The stock on Wednesday snapped its seven-day winning streak.

Investors are anxiously awaiting the release of Fed minutes of the December meeting, which would hint whether the US central bank has slowed down its tightening path. "Inflation might prove to be harder to bring down and that should keep the risks elevated that the recession that hits the US economy could be harsher than what most are anticipating. The Fed will remain loud and clear that a lot of work remains to bring down inflation," said Edward Moya of OANDA.

The primary market route is attractive since companies tend to offer valuation discounts -- typically 10-35% -- to listed peers to provide valuation comfort. It also offers investors an opportunity to gain an early exposure to the companies with several earnings growth triggers.

AMFI stock categorization is mainly referred to by active equity mutual fund managers. As the stocks move up from lower categorization to higher (say small-cap to mid-cap and midcap to large-cap), it increases their visibility. Fund managers typically further analyse such stocks and add them as per their rationale while complying with the scheme mandate.

“We hereby inform you that Venugopal Lambu has resigned from the position of whole-time director and president, Markets II, to pursue opportunities outside the company,” LTIMindtree said in a statement.

We first looked at the average daily turnover of each bucket of stocks. On average, a large-cap stock has Rs. 270 cr of volume traded daily vs. Rs. 52cr for mid-caps vs. Rs. 6cr for small caps.

The company also explained the prospects of the business to expand upto 1 GW in renewable energy in the next two to three years. The board further confirmed the appointment of a consultant for a comprehensive study, including feasibility, financing and ramping up.

“Relentless run of interest rate hikes from the Federal Reserve, and China's Covid crisis will keep investors guarded. Investors will be keeping an eye on the Federal Reserve's December meeting minutes to trickle in on Thursday. Technically, Nifty’s biggest make-or-break intraday support is now placed at 17,971 mark,” Prashanth Tapse, Senior VP (Research) at Mehta Equities said.

As per Trendlyne data, the highest target price for the stock goes up to Rs 75, while the average target price estimate is Rs 67, which shows an upside potential of 9% from the current market prices. Out of the 12 analysts covering the stock, ten have strong buy ratings and two have buy ratings.

Shares of ABB India, which have rallied over 23% in the last one year, are now on the radar of technical analysts. Prabhudas Lilladher has given an upside target of Rs 3000–3200 and a stop loss near Rs 2550 on the stock.

At the December meeting, policymakers opted for a half-point rate hike, following four three-quarter-point moves. But they also signaled another 75 basis points worth of increases this year — more than what Fed watchers had been expecting, given the lower inflation readings in recent months.

“China is more attractive in terms of valuation but has issues regarding COVID and other social issues..China’s open up trade is still awaited and that could shift money away from India and other emerging markets in the short term,” said Satish Ramanathan, CIO - Equity at JM Financial Asset Management.

“Relentless run of interest rate hikes from the Federal Reserve, and China's Covid crisis will keep investors guarded. Investors will be keeping an eye on the Federal Reserve's December meeting minutes to trickle in on Thursday. Technically, Nifty’s biggest make-or-break intraday support is now placed at 17,971 mark,” Prashanth Tapse, Senior VP (Research) at Mehta Equities said.

"The change in categorization doesn’t necessarily lead to incremental inflow or outflow. The active mutual fund managers keep an eye on the list while taking fresh/modifying positions in stocks in different categories of schemes," said Abhilash Pagaria of Nuvama.

CLSA upgraded IndusInd Bank to buy while Axis Bank remains its top pick in the banking space. The global investment bank downgraded Bank of Baroda.

“Relentless run of interest rate hikes from the Federal Reserve, and China's Covid crisis will keep investors guarded. Investors will be keeping an eye on the Federal Reserve's December meeting minutes to trickle in on Thursday. Technically, Nifty’s biggest make-or-break intraday support is now placed at 17,971 mark,” Prashanth Tapse, Senior VP (Research) at Mehta Equities said.

Brokerage firms were majorly positive on the issue, suggesting to subscribe to it, considering the business model. However, a few analysts were skeptical over the company’s business due to rising competition and rich valuations.

While a large majority of small cap stocks are still in correction mode, there are select stocks where analysts have turned positive in the last one year. ET screener powered by Refinitiv’s Stock Report Plus applies different algorithms & filters to all BSE and NSE stocks, and lists down stocks which fulfill the various criteria as specified into the algorithms & filters.

Post-acquisition of Magma Fincorp, the Poonawalla group has strengthened its leadership team, accompanied by reorientation of the customer mix, realignment of the product suite, and implementation of stringent credit policies.

Secondly, we must remember the fundamental principle of finance that risk and return go hand in hand. We are constantly trying to achieve that ideal point where the return on investment is highest.

Indian equity market outperformed the global market in 2022 despite multiple headwinds such as the Russia-Ukraine geopolitical crisis, policy tightening, rising inflation, and volatile FII flows. In comparison to a 4.3% rise in the Nifty 50, the Nifty smallcap declined nearly 20% in CY23. However, a number of brokerages are bullish on a few smallcap stocks that can be a good idea for investors' portfolios for 2023.Indian equity market outperformed the global market in 2022 despite multiple headwinds such as the Russia-Ukraine geopolitical crisis, policy tightening, rising inflation, and volatile FII flows. In comparison to a 4.3% rise in the Nifty 50, the Nifty smallcap declined nearly 20% in CY23. However, a number of brokerages are bullish on a few smallcap stocks that can be a good idea for investors' portfolios for 2023.

"Post-acquisition of Magma Fincorp, the Poonawalla group has strengthened its leadership team, accompanied by reorientation of the customer mix, realignment of the product suite and implementation of stringent credit policies," Sneha Poddar, Associate Vice President at Motilal Oswal Financial Services Limited, said.

Top stock picks: The brokerage is bullish on private banks, insurance, select industrials, consumer discretionary, automobiles and telcos. Stocks in its portfolio include Maruti Suzuki, M&M, Sun Pharmaceutical, Fortis Healthcare, Bharti Airtel, HDFC Bank, ICICI Bank, Axis Bank and SBI Life Insurance.

Sensex flat, Nifty holds above 18,200, DMart falls 2%, IndusInd Bank rises 2%; Divi's Labs, IOC, Sun Pharma are some opening movers.

“Relentless run of interest rate hikes from the Federal Reserve, and China's Covid crisis will keep investors guarded. Investors will be keeping an eye on the Federal Reserve's December meeting minutes to trickle in on Thursday. Technically, Nifty’s biggest make-or-break intraday support is now placed at 17,971 mark,” Prashanth Tapse, Senior VP (Research) at Mehta Equities said.

The markets remained in positive territory on Tuesday, but barely so. The Nifty bank index continues to outperform the headline index Nifty50. One may expect the Nifty to oscillate within a defined range.