After the stress on the market seen in the run-up to the event, post-budget sessions may actually turn out to be better as historical data shows that a week after the Budget, the index has delivered an average return of 1.36% in the last 15 years.

“Good demand and favorable product lifecycle for MSIL augur well for market share and margins. We reiterate our Buy rating with a target of Rs 10,500 (Dec’24E consolidated EPS)," Sneha Poddar, Associate Vice President at Motilal Oswal Financial Services Limited, said.

On the options front, the weekly maximum Call OI is seen at 18000 and then towards 18200 strikes while the weekly Maximum Put OI is placed at 17000 and then towards 17500 strikes.

In the Sensex pack, ICICI Bank, HDFC, HDFC Bank, Power Grid and SBI were the top gainers, rising over 1% each. Asian Paints, Bajaj Finance, Bajaj Finserv, Axis Bank and Tech Mahindra also opened with gains. On the other hand, only L&T opened with cuts.

As India's Finance Minister Nirmala Sitharaman will present the Union Budget FY23-24 on Wednesday, various brokerage firms have presented their views on some of the sectors that could be in focus. According to the brokerages, sectors like BFSI, infrastructure, automobile and power will remain in the limelight. Here is a list of 6 key sectors that could be in focus today:

The Budget is expected to support farmers' realizations with increased farm productivity and crop protection initiatives which will help various agro chemicals and fertilizer players in the country, Axis Securities said.

Currency trade has been in a holding pattern ahead of the Fed and Bank of England and European Central Bank meetings that follow on Thursday. But the U.S. wages data wiped out some small dollar gains made earlier this week amid some nerves that the Fed sticks to its hawkish stance.

Volumes are slowing down in this downside move which also indicates some pullback can be seen. Hence, one should wait for the stock to cross above the 345 level and then only buy this stock with a stop loss of 300 on a weekly closing basis on the upside, we can see the level of 420-470 in the next 8-10 months.

Aside from the Fed's rate decision on Wednesday, Chair Jerome Powell's news conference will be scrutinized for whether the rate-hiking cycle may be coming to a close and for signs of how long rates could stay elevated.

Budget2023 With ET NOW | Direction for Union Budget! FY23- a zero sum game, on track to maintain fiscal deficit at 6.4% . What are the numbers to watch out for? ET NOW's Managing Editor Nikunj Dalmia sets the context for Budget 2023

Adani Enterprises' Rs 20,000 crore FPO was fully subscribed on the last day despite negative sentiments due to the Hindenburg report. The subscription was led by non-institutional investors. While the demand from retail investors remained low, the non-institutional category was over-subscribed.

Foreign portfolio investors (FPIs) on Tuesday net sold Indian shares worth a whopping Rs 5,439 crore, provisional data showed. DIIs on the other hand, net bought shares to the tune of Rs 4,506 crore.

India Inc, Gulf backers rally behind issue, bonds rebound but jury is out on long term refinancing implications for the coal- to-hydrogen conglomerate.

Bankers said the apex court's order on Monday has finally clarified that the employee liabilities have to be borne by the consortium and the ball is now in their court to clarify and ensure there is enough funding to take care of these new liabilities.

The banking regulator, on January 23, asked SBM Bank (India) to stop with immediate effect all transactions under the Liberalised Remittance Scheme (LRS) till further orders. "The bank has since initiated corrective actions and made submission for relaxation of the restrictions," the RBI said.

Jefferies raised earnings estimates and price targets to account for higher margins but remained uncertain over the growth outlook. "While TechM has delivered an encouraging margin performance, sharp decline in headcount raises concerns on its growth," Jefferies said.

On one hand, he said officials have to communicate their desire to maintain a "sufficiently restrictive" policy stance, which can help bring inflation down towards policymakers' two percent target. The goal is to raise the cost of borrowing and cool demand.While consumer inflation has come down from a painful 40-year high, it still stood at 6.5% in December according to Labor Department data.

Adani Enterprises, the group's flagship company, gained 2.80%, while shares of Adani Transmission, Ambuja Cements, and ACC gained between 3% and 4%. Adani Green Energy and Adani Ports gained 3% and 2.6%, respectively.

Moitra, a Member of Parliament from West Bengal and a former global banker, has also raised several questions regarding the Adani Group in her letter to the Sebi chief.

Traders can look to buy the stock now or on dips for a target above Rs 2,400 in 3-4 weeks, suggest experts

"Need to work on our inefficiencies before products reach markets. Need to take cues from our global peers," says CII President Sanjiv Bajaj in a conversation with ET NOW's Sameer Dixit.

At 10:13 a.m. ET, the Dow Jones Industrial Average was up 23.71 points, or 0.07%, at 33,740.80, the S&P 500 was up 13.30 points, or 0.33%, at 4,031.07, and the Nasdaq Composite was up 54.94 points, or 0.48%, at 11,448.75

The shareholders said Musk saved more than $200 million by adding to his holdings - while quietly meeting with Twitter executives about his plans for the social media company - before finally revealing a 9.2% stake, cheating stock sellers and options traders out of the "true value" of their securities

Indian equity benchmarks ended with marginal gains on Tuesday as investors adopted a cautious approach ahead of the Union Budget and the US Federal Reserve's interest rate decision. Fag-end buying helped Sensex top 59,550 levels, gaining a marginal 0.08% or 50 points. Nifty ended at 17,662. All the indices except for Nifty IT and Nifty Pharma ended in the green.“The short-term trend of Nifty seems to have turned positive. But the confirmation of reversal could occur on the sustainable move above 17,800 levels. The market is all set to show a fresh direction post the important economic event of Union Budget 2023, which is scheduled tomorrow,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.Here are stock recommendations for Wednesday:

"RIL, the index heavyweight, has recently corrected from the high of Rs. 2750 at the start of December month to around Rs. 2350 now. Due to this correction, the momentum readings are now in an oversold zone and prices are trading around the previous swing low support seen in September 2022," Ruchit Jain, Lead Research, 5paisa.com, said.

"It is not as if there is a huge move that will occur but there is some respite," Jha said, suggesting his company expects exports to pick up only gradually. During the third quarter of the current fiscal year, the share of JSP's exports to its overall sales dropped to 5% from 23% a year earlier.

India's market capitalization has slipped to $3.2 trillion, the lowest since August 2022 while the global equity market capitalization has risen by $664 billion to $104 trillion in the first month of 2023 according to the data from Bloomberg

The Dow Jones Industrial Average rose 86.47 points, or 0.26%, at the open to 33,803.56

The benchmark index Sensex closed a tad higher — by about 50 points — to 59,549 on Tuesday. During this mild gain, 9 stocks from the BSE 500 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 total order backlog of L&T increased by 14% year-on-year to Rs 3.9 lakh crore in the first nine months of FY23 helped by 30% growth in the order inflow to Rs 1.5 lakh crore. This offers revenue visibility for the next two years. Revenue is expected to grow 15% for FY23 and FY24.

The upcoming Union Budget 2023-24 will be the last full year budget from the current government before the general election in early 2024. Direction For Union Budget 2023 and In Depth Analysis of Budget Numbers is done By Madhusudan Kela. He said that these numbers of fiscal deficit, GDP, and capital expenditure look like one of the best numbers he has seen so far.

​Vodafone Idea is ATC's largest customer in India. Following the announcement, the stock closed 5.15% higher at Rs 7.15 apiece on NSE.

The Board of Directors of Vodafone Idea Limited...has again approved Preferential Issuance of up to 16000 Indian Rupee denominated optionally convertible, unsecured, unrated and unlisted debentures...aggregating up to Rs 1,600 crores, convertible into equity shares at a conversion price of Rs 10 per equity share, to ATC," the filing said.

From the Sensex pack, SBI, M&M, UltraTech Cement and Power Grid Corp were the top gainers

Kamath, also known to regularly share educational content and stock market learnings on Twitter and other social media platforms, said people forget that trading costs are charged as a percentage of every trade and can compound very quickly.

The index is heading towards the level of 17,800, which holds the key for further course of action from a short-term perspective. If the index manages to surpass 17,800, it will be poised for a larger up move. Till then a consolidation in the range of 17,400-17,800 is possible.

From the Sensex pack, SBI, M&M, UltraTech Cement and Power Grid Corp were the top gainers

Sensex rebounds over 400 pts from day's low, ends flat, Nifty tops 17,650; SBI rises 3%, Adani Power tanks 5%; IIFL Finance, Trident, Asahi India Glass are some of the top gainers in closing trade.

Shares of billionaire Gautam Adani's flagship company Adani Enterprises were trading below the Rs 3,000 mark, while the FPO was priced at Rs 3,112-3,276 per share.

Companies announce stock split to increase the liquidity of the stock in the market. Investors who are holding the stock until the record date will receive the new shares in demat accounts and the stock price will be adjusted according to the split ratio.

The Indian rupee weakened to 82 versus the U.S. currency in late afternoon trade, with traders citing stop losses being triggered as the dollar index jumped.

Along with the FY24 Budget, the government will announce revised Budget estimates for FY23, which will include capital expenditure, planned expenditure, unplanned expenditure, fiscal deficit, GDP estimate, market borrowing, among others.

Defence sector, as every year before the Budget has a wishlist, out of which the important one is the outlay for emphasis on indigenisation, which means an emphasis on local production. This year we expect them to announce a significant budget for the space and research, electronic equipment and advancement on further localization," Ashwin Patil, Senior Research Analyst at LKP Securities, said.

Shares of billionaire Gautam Adani's flagship company Adani Enterprises were trading below the Rs 3,000 mark, while the FPO was priced at Rs 3,112-3,276 per share.

So far, the 413 companies listed on the BSE SME platform raised Rs 4,580 crore from the market and the total market capitalisation of these companies as on January 30th, 2023 is Rs 64,000 crore.

The Indian rupee weakened to 82 versus the U.S. currency in late afternoon trade, with traders citing stop losses being triggered as the dollar index jumped.

A few measures can cause volatility in the equity markets. A full-fledged populist budget or a significant increase in subsidies that impact the fiscal consolidation roadmap can lead to a market correction.

Along with promoting investments, even domestic consumption needs to be supported as rural demand has been lacklustre due to rising prices and limited non-farm opportunities for quite some time.

Shares of billionaire Gautam Adani's flagship company Adani Enterprises were trading below the Rs 3,000 mark, while the FPO was priced at Rs 3,112-3,276 per share.

"Sharp correction in international diesel prices to ~$115 from the recent peak of USD 170/bbl has improved the marketing segment profitability outlook. Also, ban on the import of Russian oil products from Feb-23 will likely support refining product spreads. Global recessionary pressure along with high-interest rates will keep oil prices range-bound, despite increased demand from China," he said.