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 M&M Fin and Ashok Leyland, while Kunal Bothra has a buy/sell recommendation on HDFC and ICICI Bank for today's trading session. Check out the targets and stop loss.

"For me, the interest of my investors is paramount and everything is secondary. Hence to insulate the investors from potential losses we have withdrawn the FPO," Adani said in a message to shareholders.

Billionaire Gautam Adani, who is in the middle of a storm following allegations made in the Hindenburg report, today said he had to withdraw Adani Enterprises NSE -28.2 %' Rs 20,000 crore FPO to protect investors from potential losses.

The group's flagship firm Adani Enterprises called off its $2.5 billion share sale in a dramatic reversal on Wednesday as a rout sparked by the U.S. short-seller's criticisms wiped billions more off the value of the Indian tycoon's stocks.

The U.S. central bank announced an expected 25 basis points interest rate increase after a year of larger hikes and said it had turned a key corner in the fight against a high inflation rate. But policymakers projected "ongoing increases" in borrowing costs would still be needed.

Apar Industries stock rose 18% during Wednesday's trading session, continuing its previous day's gains after the company reported a 210% increase in its consolidated profit after tax to Rs 170 crore in the December quarter.

The Federal Reserve slowed its drive to rein in inflation and said further interest-rate hikes are in store as officials debate when to end their most aggressive tightening of credit in four decades. Policymakers lifted the Fed’s target for its benchmark rate by a quarter percentage point to a range of 4.5% to 4.75%. The smaller move followed a half-point increase in December and four jumbo-sized 75 basis-point hikes prior to that.

"For me, the interest of my investors is paramount and everything is secondary. Hence to insulate the investors from potential losses we have withdrawn the FPO," Adani said in a message to shareholders.

Hindustan Unilever’s daily trend is sideways. RSI for monthly, weekly, and daily is indicating a sideways trend. Based on option chain analysis, the range is between 2500 and 2600. Let’s plan a trade around this.

Investors were mostly focused on the Fed's path forward, as the size of increase for its first policy meeting of the year was in line with expectations after rapid increases in 2022 including a December rate hike of 50 basis points.

The February futures contract of Nifty 50 traded on the Singapore Exchange indicates a negative start to domestic equities. The contract was trading at 17,634.50, down 65.5 points or 0.37% from the previous close.

Thus far, the steps taken by the government continue to support growth momentum and focus on bringing down the fiscal deficit. At the same time, giving support to the middle classes is likely to result in a continuation of the growth in a meaningful way.

Fiscal consolidation for FY24 continues to adhere to the projected glide path with a sub-4.5% target by FY26. While the tax buoyancy levels appear reasonable, expenditure assumptions on multiple heads are projected conservatively, especially in a pre-election year and will be monitored closely.

The new tax regime will result in significant savings for taxpayers opting for the new regime and will provide a modest stimulus to consumption. Also, the government's decision to leave LTCG on equities unchanged will allay the market's concerns.

The increase in the tax rebate limit to ₹7 lakh will help low-income earners, especially given the increase in the cost of living. The reduction in the number of income slabs to five simplifies taxation. Overall, you can see a progressive move towards rationalising the taxation structure across the board.

“Income from the redemption of MLDs will be deemed to be short-term gains irrespective of the holding period and will be taxed at the highest rate which can be 30% for resident individuals and 40% for foreign companies,” said Rajesh Gandhi, partner at Deloitte India. Gandhi said this step will remove a key advantage and significantly increase the tax burden.

The Sensex, which fell below the 59,000-mark in the closing stages of Wednesday's trading, ended at 59,708, up 158 points, or 0.27%, from its previous close. The index made an intraday high of 60,773.

The focus has been to maintain growth momentum with a clear push on infrastructure. Capital expenditure is budgeted to rise 33% to ₹10 lakh crore in FY24 to a record 3.3% of GDP (versus 2.2-2.4% on average during the past few years). Just to put it in perspective, FY19 capex was ₹3 lakh crore.

Analysts anticipate infrastructure-led companies to see the benefits of the budget proposals in the second half of the next financial year and drive the re-rating of these companies. The government proposed to raise capital expenditure by 33% for FY24 to ₹10 lakh crore.

Another reason for calling this budget a solid one is that there is minimum tinkering with taxes and tax rates, both direct and indirect. Despite this being the last full budget before the 2024 Lok Sabha elections, the finance minister very wisely chose not to play to the gallery.

"For investors to reclaim unclaimed shares and unpaid dividends from the Investor Education and Protection Fund Authority with ease, an integrated IT portal will be established," said finance minister Nirmala Sitharaman in the budget speech.

"Due to SCRA limitations, branches of foreign banks were unable to issue p-notes from IFSC and were therefore unable to move their trading desks to IFSC," said Suresh Swamy, partner, Price Waterhouse & Co LLP. "With this proposed change, GIFT IFSC will be able to compete with other leading financial jurisdictions."

The stock hit a record high of Rs 919.50 on December 15, 2022, but failed to hold on to the momentum

Policymakers lifted the Fed’s target for its benchmark rate by a quarter percentage point to a range of 4.5% to 4.75%. The smaller move followed a half-point increase in December and four jumbo-sized 75 basis-point hikes prior to that.

At 10:26 a.m. ET, the Dow Jones Industrial Average was down 219.55 points, or 0.64%, at 33,866.49, the S&P 500 was down 10.80 points, or 0.26%, at 4,065.80, and the Nasdaq Composite was down 17.20 points, or 0.15%, at 11,567.35.

The Adani group on January 29 gave a detailed response to the Hindenburg report, refuting the allegations and stating that most of the observations relate to matters that have been duly disclosed by the conglomerate in the past

The source told Reuters the Indian market regulator is also looking into any possible price manipulation of Adani group stocks, as well as examining possible irregularities in the $2.5 billion share sale of the flagship firm Adani Enterprises , which concluded on Tuesday.

Amid continued rout in Adani Group stocks, Nifty ended 46 points or 0.26% lower at 17,616, while Sensex managed to end Budget Day in the positive territory with gains of 158 points or 0.27% at 59,708. An all-rounder Budget 2023 focusing solely on growth was delivered today."The bears continued to be at the helm, and the index witnessed selling pressure in the second half of the session. The index remains in a sell-on-rise mode with immediate resistance at 17,700-17,750. The immediate downside support level is at 17,400, and a breach will lead to further selling pressure towards 17,200/17,000 levels,” said Rupak De, Senior Technical Analyst at LKP Securities.Here are stock recommendations for Thursday:

Bond, equity markets react; Adani Group officials say no hold co guarantee on any loans. Leverage against Ambuja, ACC cash flows not linked to share price

"After the phenomenal surge from April 2020 low to a new record high at 830 levels in Aug 2021, Bharat Forge consolidated in a range of 620-820 for over a year and witnessed a breakout from the same in Oct 2022," Ajit Mishra, VP - Technical Research, Religare Broking Ltd, said.

Will Fed officials stand by this guidance or turn a bit dovish will be important to watch out for, and this will decide the course of market direction

Finance Minister Nirmala Sitharaman announced to ramp up capital investment for the third year in a row by 33% to Rs 10 lakh crore

All 10 stocks belonging to billionaire Gautam Adani's vast empire were reeling under the impact of the Hindenburg report today. While Adani Ports crashed 20%, Adani Total Gas hit a 10% lower circuit. Shares of Ambuja Cement also closed 17% lower

The benchmark index Sensex closed 158 points higher at 59,708 after a volatile session on Wednesday. During this Budget day trade, 5 stocks from the BSE Commodities 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.

The government has yet again been fiscally disciplined and maintained the fiscal deficit target of 6.4% in the revised estimate for FY 2022-23 and decreased it to 5.9% for the following fiscal year

The margin parameters applicable for collection of margin obligation by Clearing Corporations would continue to be updated on intra-day and EOD basis, as per the extant provisions.

Biocon did not reveal the price at which the stake was sold.Officials at Syngene and Biocon did not immediately respond to a Reuters query seeking the reason for the stake sale and the price at which the sale was executed

The Dow Jones Industrial Average fell 46.44 points, or 0.14%, at the open to 34,039.60

The three takeaways from the Budget, according to Morgan Stanley, include gradual and realistic fiscal consolidation path, improving quality of spending and push for capex spending and focus on improving access to amenities, push for social and digital infrastructure and India's climate change targets

Recent economic reports suggest price pressures are easing and growth is cooling – all signs that the US economy is responding to the Fed’s aggressive rate increases as policymakers work to tame inflation. But a still-tight labor market could add more pressure on the Fed to extend its tightening campaign or hold rates at restrictive levels for longer.

The Indian government is in touch with the market regulator SEBI regarding th allegations made by a U.S. short seller last weekthat cast doubts on Adani Group's business practices, a senior government source told Reuters on Wednesday.

For Adani Enterprises, the maximum open interest build-up is seen at Rs 2,200 put strike and Rs 3,000 call strike. For Adani Ports, the maximum open interest build-up is seen at Rs 450 put strike and Rs 700 and Rs 600 call strike prices. Open interest in the February futures contract of Adani Enterprises increased by 8% and by 5.1% on Adani Ports

The Union Budget has delivered on all fronts such as substantially higher allocation for capital expenditure, measures to provide impetus to the manufacturing sector, especially MSMEs, and focus on boosting high employment-generating sectors such as tourism, startups, and renewable energy, among others.Divam Sharma, Founder of Green Portfolio, has compiled a list where the sector-wise impact of Budget 2023 can be seen:

The PCR ratio for the near week expiry stands at 0.54 and for the next week expiry at 0.68. The overall writing data suggests negative bias as Call writing is higher than Put writing. The immediate or temporary bounce back cannot be ruled out as PCR ratio drops near to 0.50 levels, said analysts

Even after the Rs 20,000 crore follow-on public offer (FPO) of Adani Enterprises sailed through on Tuesday, shares of the Gautam Adani's flagship entity crashed up to 30% on Wednesday amid report that Credit Suisse has stopped accepting bonds of Adani companies as collateral for margin loans.

The Union Budget has delivered on all fronts such as substantially higher allocation for capital expenditure, measures to provide impetus to the manufacturing sector, especially MSMEs, and focus on boosting high employment-generating sectors such as tourism, startups, and renewable energy, among others.Divam Sharma, Founder of Green Portfolio, has compiled a list where the sector-wise impact of Budget 2023 can be seen:

​​In another encouraging move for the pharma industry, the facilities in select ICMR laboratories will be made available for research by public and private medical college faculty and private sector R&D teams for fostering collaborative research and innovation.

Shares of Gautam Adani's flagship company bled for the 5th straight day despite the completion of a key share sale. Adani Enterprises crashed 27% on Wednesday, while 9 other stocks from the Adani pack plummeted between 3-18%.The rout triggered by Hindenburg Research has wiped out around $93 billion of the value of the conglomerate's listed units since last week, according to Bloomberg.

Adani stocks came under pressure after global investment banker Credit Suisse assigned zero lending value for bonds sold by Adani Ports and Special Economic Zone, Adani Green Energy and Adani Electricity Mumbai. It has stopped accepting bonds of Adani companies as collateral for margin loans to its private banking clients following allegations made in Hindenburg report, Bloomberg said.

With a year to go for national polls, it’s crucial for Modi to tackle the issues of high unemployment and inflation as he seeks to win a third consecutive term. Finance minister Nirmala Sitharaman focused on farmers, so-called backward castes and women to deal with the inequities exacerbated by the pandemic.