The Rs 2,000-crore Kotak fund, an India-focused late-stage alternative investment fund (AIF), primarily focuses on investments in late-stage companies. Investors in the fund as its limited partners include family offices such as Catamaran of Infosys cofounder NR Narayana Murthy, and Skywalker of Rubamin group.

The FPO will open for subscription on January 27 and close on January 31. The company will issue fresh shares on a partly-paid basis under a 100% book-built offer.

The FPO will open for subscription on January 27 and close on January 31. The company will issue fresh shares on a partly-paid basis under a 100% book-built offer.

Analysts flagged multiple reasons for the FPI selloff - expensive valuations due to the recent outperformance of Indian equities over their global peers, reallocation of funds to China and Taiwan for their relatively cheaper valuations, the reopening trade in China and global growth concerns.

"The market falls on two of three occasions in the 30 days post the budget. The probability of such a fall rises to 80% if the market has risen in the 30 days preceding the budget. Only twice in 30 years has the market been up both pre and post the budget," the brokerage said.

Jefferies maintained its buy rating on IndusInd Bank post the December quarter results with a target price of Rs 1600.

Ahead of Union Budget 2023, brokerage LKP Securities has selected some promising stocks, which have the strength and potential to yield decent returns. The brokerage firm believes stocks such as ITC, Power Finance Corporation, and Tata Power will provide good opportunities for the short term. Here is a list of 6 stocks to buy ahead of the Union Budget 2023:

"Markets have very high expectations from the Budget. The market expects the FM to bat like Suryakumar Yadav, bowl like Umran Malik and field like Ravindra Jadeja," says Nilesh Shah of Kotak Mutual Fund.

“We believe Mahindra CIE’s growth story is on track, led by its organic initiatives (new products/customers) and M&A focus. Valuations are attractive at 15x CY24E consolidated EPS,” Sneha Poddar, Associate Vice President at Motilal Oswal Financial Services Limited, said.

But analysts acknowledged that some optimism that possibly prevailed at the start of the January derivative series gradually withered with the continued selling by foreign institutional investors (FII).

Sensex falls 150 points, Nifty below 18,150; Adani Enterprises, IndusInd Bank shed 2% each; YES Bank, Vodafone Idea, SAIL, Rail Vikas Nigam Ltd are among the top movers in morning trade.

“The crucial issue influencing equity markets globally is whether the US will succeed in containing inflation without falling into a recession. There is no consensus on this,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.

On the Options front, the weekly maximum Call OI is placed at 18300 and then towards 18200 strikes while the maximum Put OI is placed at 18000 and then towards 17900 strikes.

ICICI Bank’ daily trend is bearish. Although, RSI for weekly and daily is indicating a sideways trend. Based on option chain analysis, the range is between 850 and 900. Let’s plan a trade around this.

The markets on Wednesday rallied and held on to their gains, to close the sessions on a positive note. The financial services stocks, which were recently in a sort of sleep mode, appear to be waking up.

Sectorally, buying was seen in metals, capital goods, telecom, and consumer durables while selling was seen in utilities, auto and power stocks.

The stock has bottomed out at 80 in June 2022. Recently price was observed consolidating in a tight range of 123 to 100. This range also happens to be a parallel channel. Price has now given a breakout of this range and is expected to rise up to the pattern target.

Nifty futures on the Singapore Exchange traded 83.5 points, or 0.46 per cent, lower at 18,138.50, signaling that Dalal Street was headed for a negative start on Thursday. Here are some stocks which are expected to see some action in trade today.

ET Now spoke to various experts and here's what they have to recommend for today's trading session. CA Rudramurthy has a buy/sell recommendation on SAIL and Indiamart while Kunal Bothra has a buy/sell recommendation on HDFC and ONGC for today's trading session. Check out the targets and stoploss.

April was another possibility, she added, since by then the BOJ would have a new governor. "My guess would be that more speculators would look to build positions going into these meetings."

The Fed's benchmark overnight lending rate currently sits in a target range of 4.25% to 4.50%, and investors expect the Fed to lift that rate by a quarter of a percentage point at the end of its Jan. 31-Feb. 1 meeting.

The Fed commentary also highlighted the disparity between the U.S. central bank's estimate of its terminal rate and market expectations, which were of the rate peaking at 4.88% by June. Traders are now betting on a 25-basis point rate hike in February.

Foreign portfolio investors (FPIs) on Wednesday net sold shares worth Rs 319 crore, provisional data showed. DIIs on the other hand, net bought shares to the tune of Rs 1,226 crore.

IndusInd bank on Wednesday reported a nearly 69% year-on-year (YoY) rise in net profit for the December quarter at Rs 1,959 crore, which was slightly higher than ET Now poll estimate of Rs 1,950 crore. Net interest income in the quarter rose 19% YoY to Rs 4,495 crore.

This could put pressure on European Securities and Markets Authority (ESMA) which has derecognised CCIL. The standoff between RBI and European financial regulators stems from the latter's demands which the Indian central bank believes is extra-territorial.

In an exchange filing, Vedanta said that Rs 312 crore is set to be paid upfront, while the balance Rs 1,128 crore will be in the form of secured, unlisted non-convertible debentures (NCDs) issued by Meenakshi Energy, which will mature in equal instalments over the next five years.

More than 40 lakh shares exchanged hands on the BSE and NSE, six times the combined average daily volume of 6 lakh shares in the last one month, exchange data showed. Analysts rolled-forward their valuation expectations and pegged their price targets to FY25 earnings growth from FY24.

India's P/E contracted by around 5% from the peak of 19.9 times at the beginning of the year as stock prices remained subdued across some of the key sectors, reflecting an uncertain demand environment though the 12-month forward earnings per share (EPS) showed improvement. The P/E contraction was higher in steel, energy, pharma and IT sectors.

Separately, the National Asset Reconstruction Company (NARCL), the highest bidder, is awaiting clarity on the payment terms from its owner, the government, on the acquisition of the twin Srei companies. This has also delayed the voting process.

According to a tax official, the enquiries are based on specific information, and assesses have been asked to explain why they have failed to disclose it in the foreign assets (FA) schedule of the I-T returns as mandated under the law.

At the end of the December quarter, the combined foreign ownership of HDFC-HDFC Bank stood at roughly 61%, according to Nuvama Alternative & Quantitative Research. This translates into an additional investible room available to foreign funds at 17.5%, it said.

The total OFS size (base size + green shoe) stood at 1 crore shares, representing 5.27% of outstanding equity shares of the company. The floor price was fixed at ₹270 per share.

The private sector bank witnessed a knee-jerk reaction on Monday post results on Saturday, but it managed to regain lost ground and rose by about 2% since then

At 9:49 a.m. ET, the Dow Jones Industrial Average was up 63.78 points, or 0.19%, at 33,974.63, the S&P 500 was up 14.36 points, or 0.36%, at 4,005.33, and the Nasdaq Composite was up 73.86 points, or 0.67%, at 11,168.98

Adani Enterprises Limited on Wednesday said that the price band for the Rs 20,000-crore follow-on public offer (FPO) will be at Rs 3,112-3,276/share. At the lower end of the price band, the shares are being offered at a discount of 13.5% to the current market price.

"Since the month of October, HDFC Bank has shown an impulsive upmove and has formed a ‘Higher Top Higher Bottom’ formation. Off late, we have seen some consolidation which seems to be just a time wise correction within and uptrend," Ruchit Jain, Lead Research, 5paisa.com, said.

This is the maiden corporate credit fund and the proceeds will be deployed for lending to small and mid-market borrowers struggling to access capital from regular institutional lenders, as per the statement.The fund will invest in high-yielding debentures and mezzanine securities in a portfolio of companies across small businesses, fintech, manufacturing, and services and the company has pegged the opportunity at over USD 7 billion.

The ECB in mid-December pledged further rate hikes, triggering a bond sell-off which drove Germany's 10-year government bond yield from around 2% to its highest since July 2011 at 2.569%.It dropped later as inflation cooled off and fell more than 10 bps on Tuesday after Bloomberg News reported that ECB policymakers were considering a smaller, 25 bps interest rate hike at the March meeting.

Indian indices ended in the green for the second straight session on Wednesday led by gains in metal stocks. From the Nifty pack, Hindalo, Tata Steel, L&T, UPL and HDFC led the list of gainers, while laggards included Tata Motors, HDFC Life, UltraTech Cement, Adani Enterprises and BPCL.“Nifty rose for the second consecutive session on January 18 driven by positive Asian cues and dovish signals from the Bank of Japan this morning. Metal stocks continued to rise post China reopening. Nifty could face resistance from 18,265 while the 18,049-18,072 band could provide support,” said Deepak Jasani, Head of Retail Research, HDFC Securities.Here are stock recommendations for Thursday:

The Nasdaq Composite gained 75.84 points, or 0.68%, to 11,170.95 at the opening bell

India's P/E contracted by around 5% from the peak of 19.9 times at the beginning of the year as stock prices remained subdued across some of the key sectors, reflecting an uncertain demand environment though the 12-month forward earnings per share (EPS) showed improvement. The P/E contraction was higher in steel, energy, pharma and IT sectors.

Earlier, alternative investment strategies were used by large institutional investors to hedge their portfolios with allocations to real estate and private equity primarily. However, with the emergence of pooling vehicles like Alternative Investment Funds (AIFs), Real Estate Investment Trusts (REITs), Infrastructure Investment Trust (InvITs), the investor base for alternative assets have become broader.

"Our third quarter revenues witnessed 0.3 per cent growth over last year. This has been in the backdrop of erratic rainfall in the domestic market and headwinds in international business. During the quarter, our domestic crop protection business grew by 7.7 per cent, crop nutrition business by 22 per cent," Rallis India Managing Director and CEO Sanjiv Lal said.

The benchmark index Sensex surged about 390 points to 61,045 on Wednesday. During this rally, 5 stocks from the BSE 500 index managed to record 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.

Lalwani collected funds by providing unregistered investment advice to investors through his proprietary firm Capital Yield Research and Advisory from December 2015 to September 2016. Thereafter, he mobilised capital through his proprietary firm Secure Investor Investment Advisory between August 2016 and July 2017.

Under the FPO, the employee quota has been fixed at 5%, retail at 35%, non-institutional at 15%. Anchor investor bidding date for the FPO has been fixed on Jan 25.

Fear gauge index India VIX was down 0.98% from 14.59 to 14.44 levels. Volatility cooled down from higher zones and needs now to come below 14 zones for stability to resume.

Closing Bell: Sensex surges for 2nd day, ends 390 points higher; Nifty tops 18,150; Siemens, SAIL rise 4% each.

From the Sensex pack, Tata Steel and L&T were the top performers, rising over 2%. Wipro, HDFC Bank, HDFC, Bharti Airtel, NTPC and ITC also closed with gains

According to Nuvama Wealth, if the merged entity continues to have foreign investment limit above 15%, one could see incremental inflows of close to $2.5-3.0 billion ahead of the adjustment of the weightage in the MSCI index.