"SRF is our top pick within specialty chemical space given its high capex intensity (aims capex of Rs15000 crore over next 5 years) towards chemical business would drive sustained high double-digit earnings growth over FY24E-25E," Abhijeet Bora, DVP Research Analyst at Sharekhan by BNP Paribhas, said.

The recent massive sell-off in Adani Group companies in the backdrop of the allegations made by US-based short seller Hindenburg Research, had raised questions on whether these stocks will continue to be part of the MSCI global indices.

Opening Bell: Sensex sheds 50 points, Nifty below 17,850; Adani Ports drops 7%, Paytm rises 2%

From the Sensex pack, ITC, M&M, Kotak Bank and Tech Mahindra were the top losers, falling about 0.5-1%. Maruti, UltraTech Cement, Bajaj Finserv, Tata Motors and HCL Tech also opened lower. On the other hand, L&T, Asian Paints, SBI, Power Grid, HDFC Bank and Tata Steel opened higher.

In Adani's 10-stock pack, flagship entity Adani Enterprises was the worst performer as it was locked in a 15% lower circuit limit at Rs 1,834.9. Six other stocks - Adani Ports, Ambuja Cements, Adani Power, Adani Transmission, Adani Total Gas and Adani Green - were trading 5% lower each.

Adani Group of stocks are recovering from a sharp fall and are up about 50-70% from 52 week lows. How will this affect domestic mutual funds' holdings in the group? ET Now's Soumeet Sarkar decode

Its price peaked in December and formed a lower high in January and is now sustaining below the crucial swing low of Rs 7,700. Recently, the price had been consolidating between Rs 7,450-Rs 7,180. Now the price has breached this range on the lower side. Price is now expected to resume its downslide which has started since breaching the swing low.

MSCI will conduct its quarterly rejig today, effective from March, ET Now's Soumeet Sarkar joins in to tell us which stocks may be included and the inflows expected

The markets on Wednesday opened positive and stayed favourable throughout the session, with the Nifty closing the day with a net gain.

The Nifty50 has been trading in a channel and is now moving towards the higher-end resistance placed around 17950-18000 as FIIs remain one big worry, suggest experts. The only worry factor for markets is the selling by FIIs as they had only about 15% of their positions on the long side and 85% on the short side,” Ruchit Jain, Lead Research, 5paisa.com

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 RIL, while Kunal Bothra has a buy/sell recommendation on Paytm and AB Capital for today's trading session. Check out the targets and stop loss.

On the chart, it was struggling to stay above the level of Rs 50. A breakout occurred in last session, and it jumped by 10% in one day while also managing to close above the Rs 51 level. It is also trading above the 30-Day EMA at the moment, which is encouraging for the continuation of the uptrend.

“The consortium has spent considerable time and expense to revive the airline,” said the person who requested not to be identified. “Though it (paying former employees’ dues) was not part of the resolution plan, we will stay committed to revive the airline.”

JPMorgan Chase & Co's CEO Jamie Dimon's warning came after Federal Reserve officials said more rate rises are on the cards, although none were ready to suggest that January's hot jobs report could push them back to a more aggressive monetary policy stance. From a peak of nearly 7% in June, the Fed's preferred measure of inflation stood at 5% in December - well above its 2% target but heading steadily downward.

Microsoft rose as much as 3.4% to $276.76 early Wednesday, joining Apple Inc. as the only stocks with market capitalizations above $2 trillion. This is the first time it has exceeded that level since August after rallying 29% from a November low. Apple has a market value of about $2.44 trillion.

Changes for Adani securities associated with its MSCI Global Investable Market Indexes are due to be announced later on Thursday as part of its regular review for February, it added.

The February futures contract of Nifty 50 traded on the Singapore Exchange indicates a flat start to domestic equities. The contract was trading at 17,494, up 4 points or 0.02% from the previous close.

They have also been concerned about mixed reports from U.S. companies this earnings season. With results in from more than half of the S&P 500 companies, earnings still are expected to have declined year-over-year in the fourth quarter of 2022, according to IBES data from Refinitiv.

Adding to the cautious mood, Federal Reserve officials said more interest rate rises are on the cards as the U.S. central bank moves ahead with efforts to control inflation. None hinted though that January's strong jobs report could drive more aggressive policy actions.

Shree Cement on Wednesday reported a 44% year-on-year (YoY) decline in its consolidated profit after tax to Rs 277 crore for the quarter ended December 31, 2022. The company has also declared an interim dividend of Rs 45 per share.

Foreign portfolio investors (FPIs) have net sold shares worth Rs 736 crore on Monday, provisional data showed. DIIs on the other hand, net bought shares to the tune of Rs 941 crore.

The message that Das left Wednesday may appear muddled, but a closer look would tell you that he's done with interest rate increases for now, barring dramatic developments.

It drew comfort from moderation in headline inflation aided by food prices, but the stubbornly high core inflation - after stripping out the impact of food items and transport fuel - is keeping the Monetary Policy Committee (MPC) wary of declaring victory over price pressures. It estimates inflation to average 5.3% in FY24, above the 4% target. It forecast the economy to expand at 6.4%, a tad lower than what the Economic Survey did.

The inclusions are expected to result in inflows of $148 million in Bank of Baroda and $150 million in CG Power, while the exclusion of Biocon could lead to an outflow of $66 million, said the brokerage.

Shares of Zomato surged 10% after founder and CEO Deepinder Goyal, while congratulating Paytm founder Vijay Shekhar Sharma and the firm on 'becoming profitable' on Twitter on Tuesday, tweeted, "Sorry, a bit late to the party - was so busy working on our profitability ;-)." Zomato is scheduled to announce its third-quarter earnings on Friday.

These sources added that as mandated, the trade information wasn't reflected on the stock exchanges. This allowed the people, in turn, to use such information for 'illicit gains' in the stock market by trading in such scrips either in their own accounts or accounts of their clients, a source explained.

"Being a full-service central bank with financial stability as part of its mandate, the Reserve Bank recognises that climate change can translate into climate-related financial risks for regulated entities (REs) which can have broader financial stability implications," Das said Wednesday.

On Tuesday, the group's total market capitalisation rose by ₹12,190 crore - the first increase since the sell-off in its stocks began on January 25 triggered by the adverse Hindenburg Research report that resulted in its value almost halving.

The French energy giant has stakes in assets such as Adani Total Gas and Adani Green Energy which represent 2.4% of the French firm's capital employed last year. Shares of the companies of the Indian conglomerate have slumped in recent week after Hindenburg Research accused Adani Group of stock manipulation. The company has repeatedly denied the allegations.

Last September, the regulator made corporate governance norms applicable to high value debt listed entities, a listed entity which has listed its non-convertible debt securities and has an outstanding value of listed non-convertible debt securities of ₹500 crore and above.

The new norms will essentially allow entities to borrow and lend government securities by paying or receiving a premium. The central bank will soon issue draft directions separately for stakeholder comments. Dealers said the new norms will make more people eligible to take a short position on government securities

The chemical stock remained under pressure after it breached its 200-DMA on the daily charts back in December 2022. It finally managed to recoup losses and closed above Rs 1000 on February 6, 2023, which led to a breakout

In a bright spot, Microsoft Corp rose 1.5% after the tech giant said it was revamping its Bing search engine and Edge Web browser with artificial intelligence

"Post the recent corrective phase, Tata Chemicals is attempting a pullback move since last couple of weeks. The minor correction after the budget session witnessed buying interest from lower levels and the prices have witnessed increasing volumes in the last three sessions," Ruchit Jain, Lead Research, 5paisa.com, said.

Indian equity indices ended in the green on Wednesday after RBI slowed down rate hike, also in tune with positive global cues. Nifty ended above 17,850, while Sensex topped 60,664 levels. All sectoral indices ended in the green, with the Nifty Metal index notching gains of around 4%.“Indices remained volatile as the RBI governor came up with a rate hike and forward guidance. On a larger scale, we can see that the index has been hovering within a falling channel, with it moving towards the upper band of the said channel. Over the near term, the trend may remain positive, with the potential to reach towards 18,000; again, a decisive breakout above the 18,000 level may induce a rally towards 18,350-18,400. On the lower end, support is visible at 17,650,”said Rupak De, Senior Technical Analyst at LKP Securities.Here are stock recommendations for Thursday:

"The above mentioned entities shall enter into an agreement with a KUA and get themselves registered with UIDAI ( Unique Identification Authority of India) as sub-KUAs. The agreement in this regard shall be as prescribed by UIDAI... The KUAs shall facilitate the on-boarding of these entities as sub-KUAs to provide the services of Aadhaar authentication with respect to KYC," Sebi said in its circular on Wednesday

The capital market regulator introduced corporate governance requirements for listed entities to improve transparency in their functioning and ensure enhanced disclosures to investors

The Dow Jones Industrial Average fell 23.79 points, or 0.07%, at the open to 34,132.90

SBI Chairman Dinesh Khara said the continuing strength in US job data has made monetary policy making into a delicate balancing act for emerging economies and seemed to welcome the slew of announcements on the regulatory front beyond the rate hike

The benchmark index Sensex closed higher by about 378 points to 60,663 on Wednesday. During this rally, 10 stocks from the BSE smallcap 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 for analysing a stock's current value and for predicting its future price movement.

In an eagerly awaited speech on Tuesday, Powell reiterated that disinflation has begun but warned Friday's eye-popping jobs report showed why the battle against inflation will "take quite a bit of time

Uber forecast adjusted EBITDA, a profitability metric that excludes some costs, between $660 million and $700 million for the first quarter, well above the average analyst estimate of $593.06 million, according to Refinitiv data

The new norms will essentially allow entities to borrow and lend government securities by paying or receiving a premium. The central bank will soon issue draft directions separately for stakeholder comments. Dealers said the new norms will make more people eligible to take a short position on government securities

However, despite the highly uncertain global environment, the Nifty stood its ground and protected the important support of 17,200 regions. Domestic brokerage ICICI securities expect the index to undergo range-bound consolidation in the broader range of 18,000 to 17,200

Wall Street's main indexes rallied on Tuesday after Powell said 2023 should be a year of "significant declines in inflation" even as he acknowledged that rates may need to move higher than expected if economic strength threatens the Fed's progress in lowering inflation

If we have to surpass the sturdy wall of 17900–18000, banking heavyweights should contribute convincingly. Above this, the market will come out of the recent congestion zone, and we may see good broad-based participation thereafter

The financial stocks command the highest weight in the FPI portfolio since they serve as a direct proxy of economic recovery and share a high correlation with economic indicators such as credit growth, pre-provision profits of banks, and amount of net performing assets

Revenue from operations on the other hand surged 45% year-on-year (YoY) to Rs 7,764 crore for the quarter under review, mainly due to greater regulatory claims, increased operating capacity, and improved tariff realization.

“Technically, the price of Zomato stock has surpassed the falling channel on the daily scale with a bullish candle, and buying interest is visible at the support zone,” Motilal said. “The momentum indicators have retested the breakout on the daily scale and started a fresh up move,” it added

Tata Consultancy Services Ltd. has secured its largest UK deal in three years with a new agreement with an insurance services provider. London-based Phoenix Group Holdings Plc. has agreed to a contract worth more than £600 million ($723 million) to digitally transform its product offering, TCS said in a statement on Wednesday.