Erasing opening gains, BSE Sensex dropped more than 1,00 points from day's high to slip below the 61,000 mark, whereas NSE's barometer Nifty50 plunged about 225 points, slipping to 18,162.

“The near-term market construct is not favourable for equities. The rising Covid cases in the US, Korea, Brazil, and China is an area of concern. The situation is dire in China. This might impact market sentiments,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.

Axis Bank also surged over 16% in the last three months, while it has risen over 50% in the last six months. Meanwhile, three leading private sector banks, HDFC Bank, ICICI Bank, and Kotak Mahindra, gained 7%, 18%, and 1%, respectively, in 2022.

Nifty Energy index gained about 18% in 2022, thus ending in the green for the 7th consecutive year. However, the current year's index surge is almost half of the previous year's rally which was about 34% in 2021. For the year, eight out of 10 stocks have given positive returns but only three stocks have outperformed the index, and five stocks have given double-digit returns in 2022, according to data from ACE Equity.Take a look at the key strengths of these 5 stocks on SWOT analysis, according to Trendlyne.com.

“This FDC has been launched under the brand name Zita®-PioMet,” the company said in a BSE filing. “This offers patients with Type 2 diabetes the convenience of once-daily dosing to improve their glycemic control and achieve the targeted HbA1c within 24 weeks,” it added.

A recent study conducted on the basis of the latest equity assets under management (AUM) of the MF industry across the investment pattern and time horizon across the investors' categories threw light on some shocking realities.It revealed that almost 30% of retail and high net-worth investors (HNIs), in MFs churn out or rotate their equity and equity-linked investments in less than one year.

The benchmark Nikkei 225 index lost 0.68 percent, or 180.31 points, to end at 26,387.72, while the broader Topix index fell 0.64 percent, or 12.27 points, to 1,893.32.The dollar fetched 132.08 yen, against 131.69 yen in New York, where the greenback slid further after it dropped from a daily high of 137 yen to 133 yen within minutes of Tuesday's BoJ decision in Tokyo.

Financial service 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, a few select segments of this huge sector are getting some tailwinds.

“The BOJ’s greater emphasis on the need to enhance the JGB market functioning suggests to us an increased likelihood that it will abandon the negative interest rate policy,” Goldman Sachs Japan economist Naohiko Baba wrote in a note.

Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores.

With the acquisition, Shyam Metalics added 1,50,000 tonnes per annum of stainless steel, wire rod and bar mill capacity. The company will invest Rs 7,500 crore over the next 4-5 years to diversify its metals businesses further, the company said in a BSE filing.

"As the gap in growth and profitability narrows over next 12-18 months, we see headroom for PSU banks to close the gap on valuations with private banks further and believe a valuation gap of around 0.50% is more sustainable," Jefferies said in a note.

"The divergence to the tune of Rs 259 crore consists of 13 borrower accounts (with an outstanding balance over Rs 1 crore ) for an amount of Rs 230 crore and 218 borrowers (with outstanding balance lower than Rs 1 crore) for an amount of Rs 29 crore," the filing added.

The NSE listed Tirupati is engaged in manufacturing closed die forged products like auto component bearings gears and forged flanges of mild steel, carbon steel, and stainless steel among other products.

Investec maintained its buy rating on Union Bank with a target price of Rs 240. The company reported a divergence of Rs 260 crore or 64 bps of advances and no material impact on estimates, it said."Increasing instances of internal lapses - a sign of underlying weakness caused due to Covid. Pressure on further valuations, but the event is backwards-looking," Investec said.

“The BOJ’s greater emphasis on the need to enhance the JGB market functioning suggests to us an increased likelihood that it will abandon the negative interest rate policy,” Goldman Sachs Japan economist Naohiko Baba wrote in a note.

Russia’s invasion of Ukraine, spiralling commodity prices that pushed inflation to multi-decades high in developed economies like the US and Europe, steep monetary tightening measures by central banks to tame inflation were the factors behind FIIs pulling out money from the risky asset class.

Earlier a company was prohibited from buying its own shares. In 1998-99, the laws changed, both the Companies Act and Sebi guidelines made provisions for companies to buyback their own shares. Indian regulations require companies to cancel the shares that it buys back unlike in some other countries where it’s allowed to keep those shares alive on its own balance sheet.

Amid rising global recession fears, Dalal Street remains to be volatile in the fag end of the year. Analysts, however, believe that stock-specific actions are likely to remain high on bourses and a handful stocks are on the verge of breakout on the technical charts. Based on their recommendations, here are a seven stocks that can deliver strong returns in next six to eight weeks:

Investec maintained its buy rating on Union Bank with a target price of Rs 240. The company reported a divergence of Rs 260 crore or 64 bps of advances and no material impact on estimates, it said."Increasing instances of internal lapses - a sign of underlying weakness caused due to Covid. Pressure on further valuations, but the event is backwards-looking," Investec said.

The cement industry is witnessing a demand revival with improvement in labor availability and rural demand, government’s thrust on infrastructure (aided by pre-election govt. spending), and steady demand from the housing segment.

In the domestic equity market, the 30-share BSE Sensex was trading 255.63 points or 0.41 per cent higher at 61,957.92. The broader NSE Nifty rose 67.15 points or 0.37 per cent to 18,452.45.

“We like JK Cement as it has been consistently adding capacities, helping in its volume growth and diversification of its market mix. We have a buy rating with TP of 3550,” Sneha Poddar, Associate Vice President at Motilal Oswal Financial Services Limited, said.

“The situation is dire in China. This might impact market sentiments. Moreover, there are no near-term triggers to take the market higher. The next round of triggers will come only in January, starting with the Infosys and HCL Tech results on 12th Jan,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.

Based on high relative strength and strong uptrends on longer degree charts, brokerage firm ICICI Direct has picked 9 techno funda stocks such as L&T, Federal Bank, Ambuja Cement and Bajaj Electricals that can rally up to 29% in the calendar year 2023. Here’s a list of 9 techno-funda picks from ICICI Direct:

The Indian markets, like other Asian ones, reacted sharply downwards to the Bank of Japan’s surprising decision, on Tuesday, to allow a move of 50 basis points on either side of 0% in long-term yields. Markets in India, however, recovered largely by the end of the day.

This is the third time that the Nifty PSE index is approaching the 4,500 mark. On the last two occasions, the index failed to move further, and had to face more than 16% fall.Technical analyst Milan Vaishnav said a breakout is impending but the index is facing resistance at current levels.

Maruti Suzuki India’s daily trend is bearish to sideways. Both monthly and weekly RSI are showing a sideways trend. Although daily RSI is showing weakness. Based on option chain analysis for the January series, the range is between 8000 and 10000. This is a wide range. Let’s plan a trade around this for the January series.

​​A year that saw volume growth drop sharply due to the inflation impact on rural consumption,and profitability bearing the brunt of spiralling commodity prices, most FMCG majorsweathered the storm and managed to report growth in sales and profits.

Bombay Rayon will convene the board meeting to consider, approve and take on record the standalone and consolidated unaudited financial results of the company for the quarter and six months ended on 30 September, 2022.

Nifty futures on the Singapore Exchange traded 72 points, or 0.39 per cent higher at 18,498, signaling that Dalal Street was headed for a positive start on Wednesday. Here are some stocks which may buzz the most in today's trade.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.6%. Japan's Nikkei was down 0.2%, paring earlier losses of around 1%. Gold miners in Australia led a 1.3% jump for the S&P/ASX 200.

ET Now spoke to various experts and here's what they have to recommend for today's trading session. Nooresh Merani has a buy/sell recommendation on Mahanagar Gas and IDFC Ltd while Kunal Bothra has a buy/sell recommendation on Reliance Industries and Axis Bank for today's trading session. Check out the targets and stoploss.

Sectorally, buying was seen in energy, IT, and oil and gas stocks while some selling was visible in telecom, realty, auto, and FMCG stocks.

Driving this trend is the softening of demand in certain car segments and fuel types. To shore up sales, most carmakers are offering discounts between 4.5% and 5% on their vehicles this month compared with 2-2.5% two years ago.

The Dow Jones Industrial Average rose 92.2 points, or 0.28%, to 32,849.74, the S&P 500 gained 3.96 points, or 0.10%, to 3,821.62 and the Nasdaq Composite added 1.08 points, or 0.01%, to 10,547.11.

Telecom operator, Bharti Airtel, has acquired a strategic stake of around 8 per cent in Lemnisk under its startup accelerator programme for an undisclosed amount.

Whether this is a strategic tweak to buy time for his yield-curve control settings until his decade-long term ends in April or the start of the end for his unprecedented monetary easing remains to be seen.

In its report on the state of the economy, RBI said that with every passing day, the balance of risks gets increasingly tilted towards a darkening global outlook for 2023.

The court, which has its seat in Luxembourg, believes the general public's access to such data constitutes a "serious interference with the fundamental rights to respect for private life and to the protection of personal data", according to its ruling on November 22, 2022.

The investment bank said the reopening of China's economy, together with peaking of interest rates in the US, bodes well for industrial commodities such as metals and crude oil that could benefit from demand improvement and price stability.

​​Axis Bank is currently trading at 1.4 times its FY25 estimated core book value, compared with 1.9 times that of ICICI Bank. The net interest margin gap between ICICI Bank and Axis Bank has narrowed to 36 basis points (bps) in April-September 2022 versus 64 bps in the previous year. One basis point is 0.01%.

As per the research paper, following the Asian Development Bank's 2021 framework, the core digital economy is estimated to be 5.40% or $0.11 trillion of the Indian economy's overall gross value added (GVA) in 2014 ($1.99 trillion), which increased by more than 15% annually in absolute terms to contribute to 8.5% of the economy's GVA in 2019.

Several platforms like ETMoney, GROWW, Zerodha and Paytm offer direct plans to mutual fund investors. Direct plans bypass distributors and result in cost savings to the investors over the long term.

The asset management company hit a fresh 52-week high of Rs 2,535 on 11 January but failed to hold on to the gains. It hit a low of Rs 1,690 on 24 May 2022, before bouncing back.

Sebi's top decision-making body also tightened governance norms for the stock exchanges and other related institutions that constitute the broader market infrastructure. It also sought to enhance the risk management framework for 16 top brokers considered systemically significant.

Effectively, it would be difficult for Piramal Enterprises now to participate in the auction process scheduled Wednesday. This is mainly because Piramal's binding offer is for one entity of Reliance Capital, while only those bidders offering to buy the entire company can participate in the challenge auction process. Furthermore, Piramal's binding offer was made with Cosmea, which is not participating in further rounds of the sale process.

The Nifty declined 35 points, or 0.19%, to end at 18,385. Both the indices had fallen over 1% earlier in the day amid a market wide sell-off after Bank of Japan surprised investors by modifying its yield curve control band, sending Asian stocks in a tailspin.

"HDFC AMC has recently witnessed a breakout from a reversal pattern and also reclaimed the major moving averages on the weekly chart. All indications are pointing towards gradual rise from hereon," Ajit Mishra, VP - Technical Research, Religare Broking Ltd, said.

It said India's robust medium-term growth outlook is a key supporting factor for the rating. A clear improvement in corporate and bank balance sheets, which were under strain prior to the pandemic, is likely to facilitate a steady acceleration in investment in the coming years.