The <keyword id="6354813" type="COMPANY" weightage="80" keywordseo="nifty">Nifty</keyword> had a modestly positive start on Tuesday even as traders remained cautious ahead of the monthly expiry in a truncated trading week. Technology and pharma <keyword id="6354298" type="ORGANIZATION" weightage="80" keywordseo="stocks">stocks</keyword> were in demand in early deals, pointing to the defensive nature of the demand. Banking stocks retained their uptrend. 
 The Nifty rose 16 points to 7,993 points in early deals with 33 shares advancing compared with 16 that fell on the Index. Hindalco, Maruti, Power Grid, Axis Bank and GAIL were the top gainers on the Nifty while <keyword id="6355199" type="CITY" weightage="80" keywordseo="Reliance-Industries">Reliance Industries</keyword>, Bosch, Reddy's, Grasim and Asian Paints slipped in trade. 
 L&amp;T Finance was the top traded counter on the National Stock Exchange for a second straight day after <keyword id="6581358" type="COMPANY" weightage="20" keywordseo="Bain-Capital">Bain Capital</keyword> invested nearly 700 crore rupees in the company. Axis Bank and SKS Micro were also on the list of most traded stocks. 
 
Bit gains were seen on the broader markets with the CNX 100, CNX 200 and CNX 500 Indices gaining 0.3 percent a piece. The CNX Small Cap and the CNX Mid Cap Index were higher still. The sectoral space was lead by the CNX IT Index that rose more than 1 percent. Smart shades of green were seen on CNX PSU Bank, CNX FMCG and CNX Auto Indices. The Bank Nifty gained 0.3 percent. 
 The <keyword id="6484188" type="CITY" weightage="80" keywordseo="Sensex">Sensex</keyword> edged 81 points higher to 26,273 in early deals on the Bombay Stock Exchange and had 19 stocks advancing compared with 11 that slipped in trade on Tuesday. The top gainers included Infosys, Mahindra, Wipro, State Bank and BHEL while Hindalco, NTPC, Bharti and Larsen fell below their Monday's closing prices. 
 Axis Bank was in heavy demand on the <keyword id="35140" type="CITY" weightage="80" keywordseo="BSE">BSE</keyword> as well, taking the first slot on the top traded charts. Infosys and Larsen were the other two stocks on the top 3 most in demand on the exchange. 
 
The broader market was dominated by the bulls at least in the first hour of trade with 1,007 stocks advancing compared with 383 that fell on the Bombay Stock Exchange. 
 
The mood was mostly bullish in the futures and options space ahead of the monthly expiry on Thursday. Infosys and Mind Tree lead the technology pack higher and all 11 futures within the pharma space reported positive gains. Wockhardt Futures were the top gainers. 
 
Atlas Cycles, Motherson Sumi and Tata Coffee were some of the notable names on the top volume buzzers list on the NSE. 
 
Image credit: Indiatimes

Here's how the markets opened today!

Indian shares gave back some of their sharp gains on Friday after traders booked partial profit ahead of the weekend. This selling came after stocks got off to a flier on Friday morning as the <keyword id="6356435" type="ORGANIZATION" weightage="100" keywordseo="US-Federal-reserve">US Federal Reserve</keyword> postponed its much feared interest rate increase overnight. Local banks were in heavy demand. 
 As a consequence, the <keyword id="6354813" type="COMPANY" weightage="100" keywordseo="nifty">Nifty</keyword> surged 83 points to 7,982, retracing from its intra-day high of 8,054 points. Banks, beaten down until recently, led the bounce back. Axis Bank, Bank of Baroda, M&amp;M, ICICI Bank and State Bank of India were the top five gainers on the Index while Tata Motors, Cairn, ITC, Hindustan Unilever and Bharti Airtel slipped in trade. The Advance-Decline Ratio on the Nifty was 30/20 and the index rose for the second session to hit a 3-week high. 
 Axis Bank, SKS Micro and Reliance Industries were the top 3 traded stocks on the <keyword id="53581" type="CITY" weightage="100" keywordseo="NATIONAL-STOCK-EXCHANGE">National Stock Exchange</keyword>. SKS Micro saw relentless selling after the company failed to be on the Reserve Bank of India's list of 10 lenders allowed to open small banks. 
 
The boarder market was in fine shape with major indices such as CNX 100, CNX 200 and CNX 500 gaining at least 0.8 percent each. The Mid cap index added 0.4 percent and the Small Cap Index jumped 1.9 percent. The mood was buoyant too in the sector-specific benchmarks. The Bank Nifty surged 2.5 percent, CNX PSU Banking Index added 2.5 percent and the CNX Finance Index was up 1.9 percent. 
 It was festive cheer on the <keyword id="43628" type="CITY" weightage="100" keywordseo="Bombay-stock-exchange">Bombay Stock Exchange</keyword> with the <keyword id="6484188" type="CITY" weightage="100" keywordseo="Sensex">Sensex</keyword> gaining 197 points at 26,160. ONGC, Wipro, Lupin, Coal India and Maruti were among the top gainers while Tata Motors, Bajaj Auto and Hindalco fell in trade. The Advance-Decline Ratio was a modest 8/7 on the index where Tata Motors, Reliance and State Bank of India were the top traded stocks. 
 
Tata Motors was under pressure in trade today after group company Tata Steel Ltd. sold 3.28 crore shares of Tata Motors to large institutions, raking in more than 1,260 crore rupees. The deal was done at a slight discount to the current market price. 
 
Bulls dominated trade in the broader market where 1,693 stocks gained ground compared with 920 that fell on the Bombay Stock Exchange. 
 
The derivatives space was in an uptrend as well with 113 futures rising compared with 47 that ended below Wednesday's closing prices. Futures belonging to the Realty, Fertilisers and Banking sectors were in heavy demand while those of Finance, FMCG and metal sectors slipped. 
 
A set of fundamentally strong stocks made it to the list of volume buzzers on Friday. They were Blue Dart, Crisil, Cyient, Abbott India, Pfizer and ENIL to name a few. 
 
(Image credits: Indiatimes)

This is how the markets closed today!

The <keyword id="6484188" type="CITY" weightage="100" keywordseo="Sensex">Sensex</keyword> and the <keyword id="6354813" type="COMPANY" weightage="100" keywordseo="nifty">Nifty</keyword> are the best performing indices across Asia in mid-afternoon trade on Friday as traders latch on to bargains in a market that was till recently quoting at 13-month lows. The <keyword id="6356435" type="ORGANIZATION" weightage="100" keywordseo="US-Federal-reserve">US Federal Reserve</keyword>'s move to postpone its hiking of interest rates has had a beneficial impact on stock prices at least for today. Here is a snapshot of the cash market on the <keyword id="53581" type="CITY" weightage="100" keywordseo="NATIONAL-STOCK-EXCHANGE">National Stock Exchange</keyword>, with a special focus on the Nifty. 
 
BENCHMARK INDICES 
Nifty jumped 136 points to 8,035 
Sensex surged 446 to 26,410 points 
 
BROADER INDICES 
CNX 500 rose 1.6% to 6,673 points 
CNX Mid Cap gained 1.1% to 12,835 points 
CNX Small Cap jumped 1.9 to 5,115 points 
 
SECTORAL INDICES 
Bank Nifty soared 3.2% to 17,507 points 
CNX PSU Bank jumped 3.3% to 3,169 points 
CNX Realty leapt 3.5%to 173 points 
CNX Pharma rose 0.9% to 12,731 points 
CNX Finance jumped 3.1% to 7,141 points 
 
TOP NIFTY GAINERS 
Axis Bank 
ICICI Bank 
Bank of Baroda 
 
TOP NIFTY LOSERS 
Tata Motors 
Hindustan Unilever 
GAIL 
 
TOP TRADED ON NSE 
SKS Micro 
Axis Bank 
Reliance Industries 
 
TOP VOLUME BUZZERS 
Future Consumer Enterpises 
CRISIL 
Puravankara Developers 
 
TOP 52-WEEK HIGHS 
8K Miles 
Pfizer 
Apl Apollo Tubes 
 
ADVANCE-DECLINE RATIOS: 
Nifty: 42/8 
Sensex: 24/6 
Futures: 131/30 
Broader Markets: 1,725/633 
 
(Image credits: cliparts)

It's a hay day at the markets today!

The <keyword id="6354813" type="COMPANY" weightage="100" keywordseo="nifty">Nifty</keyword> had a modestly positive start on Friday thanks to continued buying and short covering in overseas markets that prevented local traders from going short on major stocks. 
 
The Nifty rose x point to x, resuming its uptrend based primarily on short covering. The Advance-Decline Ratio was a robust 44/6. Frontline stocks led gainers, therefore, State Bank of India, Bank of Baroda, Axis Bank, PNB and Yes Bank were on top of the buyers list. Whereas, BHEL, Tata Power, GAIL, Hind Unilever and ACC fell in trade. 
 A surprising set of stocks made it to the top traded list on the <keyword id="53581" type="CITY" weightage="100" keywordseo="NATIONAL-STOCK-EXCHANGE">National Stock Exchange</keyword>: Ceat, Wockhardt and SBI were the most in demand on the exchange and all three traded in positive change. 
 
Wider benchmarks saw continued buying as investors hunted for value in beaten down stocks. The CNX 100, CNX 200 and CNX 500 indices rose 0.8 percent while gains were higher on the Mid Cap and the Small Cap Indices. 
 The sectoral space was also buzzing with activity. All indices posted modest upticks: The CNX PSU Bank index posted the highest gains. CNX <keyword id="25455" type="ORGANIZATION" weightage="100" keywordseo="finance">Finance</keyword> and CNX Auto Indices were in positive territory as well. 
 The Bombay Stock Exchange was also buzzing with activity with the <keyword id="6484188" type="CITY" weightage="100" keywordseo="Sensex">Sensex</keyword> advancing 153 points, or 0.6 percent, to 25,775 points. Vedanta, ONGC, Wipro and Infosys posted gains while ICICI Bank and Bajaj Auto slipped in trade. The Advance-Decline Ratio was a strong 23/7 on the Sensex and Tata Motors was the top traded stock on the index. 
 
The wider market saw bulls strengthening their fort with 1,186 stocks gaining ground compared with 283 that fell. 
 
The futures and options segment saw mid caps dominating the gainers list. Debt-laden Amtek Auto, where bankers have extended further credit and are in talks to restructure its debt pile, was the highest gainer. SKS Micro, SRF and Kaveri Seed edged higher in trade as well. On the losers' side were Godrej Industries, BHEL, Apollo Hospital and Crompton Greaves. The Advance-Decline Ratio was a strong 124/34 in the derivatives space. 
 
Jet Airways, Suven Life, Sobha and Bajaj Corp were among the top volume buzzers list on the NSE. Ceat, Abbott India and 8K Miles were on the list of 52-week highs on the exchange. 
 
(Image credits: Indiatimes)

Modest start to the day at Dalal Street

The <keyword id="6354813" type="COMPANY" weightage="100" keywordseo="nifty">Nifty</keyword> plunged below the crucial 8,000-point mark, dropping more than 3 percent in early deals on Monday as a global sell-off accelerated in Asia. There were no gainers on the Nifty, <keyword id="6484188" type="CITY" weightage="100" keywordseo="Sensex">Sensex</keyword> and in the futures and options space, denoting the complete dominance of bears on Dalal Street. The fear Index jumped a whopping 39 percent.
 

	The Nifty hit its lowest level since June 16, falling in sync with major indices in Asia, the US and in Europe as fears of a global slowdown in growth hit home. The Index was poorer by 258 points at 8,041. It had briefly traded at 7,997 points before a bout of short covering saw it climb above 8,000. All 50 stocks on the Index lost ground. Yes Bank, Tata Motors, Vedanta, GAIL and Axis Bank were the top losers on the Nifty.
 

	Axis Bank was the top traded counter on the Index with 76 crore rupees worth of shares being traded. State Bank of India and Infosys were the other two major stocks exhibiting heavy demand in early deals. All three stocks were under heavy losses.
 

	Broader indices shed 3.2 percent to 4.2 percent with the CNX Small Cap Index being the top loser. All indices were coloured by a deep shade of red. The Bank Nifty plunged 3.8 percent to 17,371 points, its lowest in six months. Sectorial losses totalled 2.2-5 percent. The CNX Realty Index was the biggest loser.

	 

	Stocks suffered heavily on the Bombay Stock Exchange as well, where the Sensex plunged 828 points to 26,538 in the first 20 minutes of trade. The Advance-Decline Ratio stood at 0/30. Axis Bank, Bajaj Auto, GAIL, ONGC and ICICI Bank were the top stocks that ceded the maximum ground on the Sensex.
 

	
		
			
				
					
						
							Bears dominated the entire proceedings in the futures and options space. All 161 futures traded in the red with the front month Nifty contract dropping 3.3 percent, or 273 points at 8,032. SKS Micro, JP Power, IFCI, Tata Communications and Indiabulls Housing Finance were the top five futures that posted the sharpest losses.
						 
						
							Bears took charge of the broader market. The Advance-Decline Ratio was 76 stocks that rose versus 1,313 that dropped on the NSE.
						 
						
							Adani Power, Adani Enterprises, Emco, Atlanta and EID Parry were stocks that hit fresh 52-week lows. Gujarat Pipavav Port, Zodiac Clothing, SKS Micro, NHPC were notable stocks on the list of volume buzzers. 
							 
							Image credit: Indiatimes

Here's how the Markets opened today

<ul><li>Even though macro-economic data such as diesel consumption, credit offtake, vehicles tolled and property sales are holding up well, the micro picture is not so rosy afterall. Valuations of Indian stocks are still trending way above 10-year average. </li><li>Growth stocks likely to derate further as demand conditions weaken further after March quarter earnings.</li><li>Global cues appear weak after recent inflation and payroll data emerging from the US. Hedge fund managers expect a hard landing for the US in 2023. </li></ul> From the lows it plumbed in March this year, Indian equities are up by 8% in 2023 after dropping by over 11% in the January-March quarter. The macro indicators are also looking better than they were a few months ago and the monetary policy committee of the Reserve Bank of India has pressed the pause button on interest rate hikes. Retail inflation also eased to an 18-month low of 4.7% in April. Other high-frequency data such as diesel consumption, credit offtake, vehicles tolled and sale of residential property on a three-month moving average is doing fairly well. Ideally this should mean that the markets should continue their upward trajectory. The answer is a decisive no, as these triggers are not enough for the market to trend any higher. Here are five reasons why Indian markets will not stay range-bound after April and May’s rally. <ol><li>Rich Valuations To Cap Further Upside: All the positive macro indicators like lower crude prices, inflation print for April and a temporary pause in rate hikes are priced in by the markets. A big factor that contributed to the rally was that valuations of Indian stocks had corrected to more rational levels in the March quarter after a sharp sell-off. With the recent run-up in stocks, valuations are back to elevated levels. According to Antique Stock Broking, Indian equities are trading at 19.5x1 year forward P/E multiple (against the long-term average of 18.4x), which is on a higher side given the above-mentioned risk and slowing domestic macro (evident from high-frequency indicators like IIP, E-way bill generation, electricity demand, petroleum consumption and auto demand).</li><li>Q4 Earnings Are A Mixed Bag As IT Services Play Spoilsport: The ongoing earnings season has thrown up mixed trends. According to analysis, 35 of the Nifty50 companies, which account for nearly 80% of the market capitalisation of the index, posted revenue growth of 13.3% and an EBITDA growth of 14.4% and profit growth of 15.4%. However, the results are not so charming if one excludes financials and the commodity sector. Nifty50’s EBITDA (earnings before interest, taxes, depreciation and amortisation) beat was driven by Reliance Industries and Tata Steel along with auto companies. The IT services and cement sector posted muted growth.</li><li>Weak Global Cues: The Dow and S&amp;P 500 fell to new lows on Monday. The Dow slumped 336.46 points to 33,012 and the S&amp;P 500 declined by 26.38 points to 4109.90 on weak retail sales data. The Nasdaq too ended down. Hedge fund managers are factoring a hard landing for the US. Last week, billionaire investor Stan Druckenmiller, in an interview with Fortune, said the US economy was teetering on the edge of a recession and predicted a “hard landing.” This has also spooked markets as so far most of the analysts and strategists have been predicting a soft landing. Also, recent payroll and inflation data from the US seems to suggest that a rate-cut cycle is unlikely to start this year. </li><li>Competitive Populism Could Pose A Risk To Fiscal Prudence in FY24: Analysts are worried that with the BJP losing the state elections in Karnataka, the trend of doling out freebies will come back with a vengeance. Strategists fear that populism may rear its ugly head in the upcoming state elections due to be held in Rajasthan, Chhattisgarh, Madhya Pradesh, Telangana, Mizoram and the 2024 general election. This could undermine fiscal prudence and efficiency in government spending.</li><li>Premium Valuations of Growth Stocks To Correct Further: Growth stocks in India have enjoyed unrealistically premium valuations for a long time. With a meaningful slowdown in growth now becoming inevitable, analysts expect a further de-rating of these stocks. According to Kotak Institutional Equities, “The Indian market is trading at ‘reasonable’ valuations compared to recent history and bond yields after lacklustre returns over the past 18-20 months. However, most ‘growth’ stocks, especially in consumption, investment and outsourcing space, are trading at expensive valuations, despite increasing near-term demand issues and medium-term disruption risks.”</li></ol>

Five reasons why markets will not run up further from here

<ul><li>MSMEs hold immense potential in supporting India’s ambitious vision of a $40 trillion economy by 2047, says industry body Assocham.</li><li>Banks can fund <keyword id="6358354" type="General" weightage="20" keywordseo="msme" source="Orion">MSME</keyword> working capital requirements against <keyword id="4572080" type="General" weightage="20" keywordseo="GST-filings" source="Orion">GST filings</keyword>, suggests Assocham.</li><li>Another suggestion is to come up with a similar structure of REITs and InVITs, an investment trust that lends specifically to MSMEs via pooling.</li></ul>The micro, small and medium enterprises (MSME) sector has played a meaningful role in India’s growth. The sector holds immense potential in supporting India’s ambitious vision of a $40 trillion economy by 2047, says a report by industry body Assocham. However, the real struggle for small businesses lies in fundraising for future growth. The report highlighted challenges faced by MSMEs in terms of fundraising and recommended ways to solve the problem. “An April 2022 report by the Standing Committee on Finance estimated the credit gap in the MSME sector to the tune of ₹20-25 trillion. Therefore, funding via alternative sources apart from bank credit needs to be augmented for the MSME segment,” said the report. Given that nearly 60% of MSMEs raise funds through informal sources, formalization of the sector is necessary to facilitate growth, the industry body says. “To this end, banks could fund working capital requirements against GST filings, which are more reliable quantitatively, as compared to collateralized loans. This would not only enable MSMEs easy access to funds but also spur formalization through GST registrations,” Assocham said. Another suggestion is to come up with a similar structure of real estate investment trusts (REITs) and infrastructure investment trusts (InVITs). The industry body says that an investment trust that lends specifically to MSMEs via pooling – can be created. Disclosures a challenge with SME IPOs Apart from credit, small businesses also find it tough to raise equity. Raising funds by going public via <keyword id="5559702" type="General" weightage="20" keywordseo="SME-IPO" source="Orion">SME IPO</keyword> is also a challenge due to strict disclosure requirements. BSE SME Exchange was launched in 2012 while NSE launched SME Emerge platform and Nifty SME EMERGE Index in 2017 to encourage MSME companies to get public. “In November 2021, BSE also collaborated with the All-India MSME Association (AIMA) to encourage and promote the listing of MSMEs and start-ups through the SME platform. Although these steps helped overall resource mobilization in the initial years, evident from the gradual rise in number of MSMEs that have moved to the main board, we have not seen equity emerge as a source of MSME financing in a big way,” said the report. While tough disclosure remains a challenge, data shows that SME IPOs have witnessed good growth with hundreds of companies launching their issues with <a href="https://www.businessinsider.in/stock-market/news/small-is-the-new-big-sme-ipos-double-in-2022-while-mainboard-ipos-halve/articleshow/96618323.cms#:~:text=mainboard%20IPOs%20halve-,Small%20is%20the%20new%20big%3A%20SME%20IPOs%20double,2022%2C%20while%20mainboard%20IPOs%20halve&amp;text=In%202022%2C%20108%20SME%20IPOs,age%20technology%20IPOs%2C%20last%20year.">stellar performances</a>. In 2022, 108 SME IPOs were launched, as against 60 the year before. A net worth between ₹1 crore and ₹25 crore is one of the listing requirements for SME IPOs on BSE, as per BSE Stock Exchange. The minimum investment amount for an SME IPOs is quite large compared to regular IPOs – ₹1 lakh for SME IPOs versus nearly ₹15,000 for regular IPOs. The report also revealed that the Department for Promotion of Industry and Internal Trade (DPIIT) is in process of finalizing the new industrial policy, which amongst other things, encourages MSMEs to choose the corporate bond market. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/mutual-funds-raise-bets-on-mid-small-cap-stocks-amid-volatile-markets/articleshow/98516460.cms">Mutual funds raise bets on mid &amp; small-cap stocks amid volatile markets</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/fpis-continue-to-be-bearish-on-oil-gas-power-stocks-in-february-offload-equities-worth-7821-crore-in-the-two-sectors/articleshow/98511897.cms">FPIs continue to be bearish on oil &amp; gas, power stocks in February, offload equities worth ₹7,821 crore in the two sectors</a>

REIT-like structures, loans against GST filings can help solve MSME fundraising problems: Assocham

<ul><li>While analysts remain positive about 2023, multiple factors including geopolitical tensions, rising Covid-19 cases in China, monetary policy actions could have an impact on markets.</li><li>Business Insider India has examined analyses of multiple brokerages to figure out stocks that are expected to shine in 2023.</li><li>Here are some of the stocks recommended by brokerages including ICICI Direct, HDFC Securities, Sharekhan, Motilal Oswal and Religare Broking to invest in next year. </li></ul>The year 2022 has been an eventful one, with multiple headwinds in the form of rising geopolitical tensions, continued supply chain constraints, boiling crude oil prices and elevated inflation that triggered interest rates hikes by central banks around the world, causing a turmoil in equity markets globally. As we step into 2023, equity markets could be <a href="https://www.businessinsider.in/stock-market/news/psus-stage-a-comeback-in-2022-and-the-future-looks-healthy-say-analysts/articleshow/96522444.cms">driven</a> by key sectors like banking, finance and insurance services (BFSI), IT and metals, say analysts. In 2022, the Indian equity market emerged as an outlier in a world where most markets delivered negative returns. Benchmark indices Sensex and the Nifty50 rose nearly 3% this year as domestic institutional investors stepped in to fill the gap left by foreign institutional investors (FIIs) during the year. In comparison, Asian and US markets registered a steep 10-30% fall in the year. “The relatively stable equity market in India was a result of a smart economic recovery from the pandemic shock and the growing dominance of retail investors,” said a report by Quantum Mutual Fund. In 2023, however, geopolitical tensions, rising Covid-19 cases, monetary policy actions, change in commodity prices including crude oil and India’s union budget are among factors that will impact the markets. Amid all these uncertainties, the key question is which stocks would be suitable to invest in this scenario? Business Insider India has examined analyses of multiple brokerages – including ICICI Direct, HDFC Securities, Sharekhan, Motilal Oswal and Religare Broking – to give you a list of stocks that are expected to shine in 2023. Here are the stocks recommended by brokerages for investment in 2023. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year-to-date change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Larsen &amp; Toubro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">State Bank of India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">28% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti Suzuki </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10.5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">34% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Macrotech Developers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-17% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PI Industries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14% </td></tr></tbody></table>Note: Change as on December 27, 2022 <keyword id="6354919" type="General" weightage="20" keywordseo="LT" source="Orion">L&amp;T</keyword> best placed to take advantage of a capex revival Infrastructure behemoth Larsen &amp; Toubro is amongst the top picks of brokerages as they believe the company is well poised to be the key beneficiary of a <a href="https://www.businessinsider.in/stock-market/news/capital-intensive-cyclical-and-value-stocks-to-continue-their-outperformance/articleshow/95659482.cms">capex upcycle</a> driven by investments in both public and private sectors. “With a pick-up in the capex cycle and diversified segmental exposure, we believe L&amp;T is the best capex play in the large cap capital goods segment. The company is optimistic about meeting its 15% growth guidance for revenue and order inflow in FY23,” said a report by ICICI Direct Research. Debt-free Maruti Suzuki another favourite of brokerages India’s largest carmaker Maruti Suzuki is another favourite of analysts considering it is debt free, pays consistent dividend, and has strong free cash flow and healthy financials. “Maruti is on a strong footing for a recovery in market share and margin with launches gaining traction and semiconductor shortages easing. It can gain further market share, led by an expected shift towards petrol and hybrid vehicles, resulting in ~14% volume CAGR over FY22-25E,” said a report by Motilal Oswal. In the next 2 years, the automaker intends to launch products in the utility vehicle segment, focus on premiumisation and revamp its existing product portfolio. SBI and Axis Bank among top BFSI picks State Bank of India and private lender Axis Bank are also among stocks that might do well next year. Analysts say SBI is one of the few large-cap stocks available at a reasonable valuation with high growth visibility led by strong retail loans and a pick up in the corporate segment. “Bank lending has been growing at double-digit rates as of this fiscal. Revival in consumer demand, rise in private capex followed by rise in government spending can be triggers for the growth. SBI, being a leader in the industry, could be a best play on this theme,” said analysts at HDFC Securities. Similarly, Axis Bank has also been witnessing strong growth in the retail and mid-corporate segment, which, along with micro, small and medium enterprises, would remain the key growth drivers for the bank, according to analysts at Motilal Oswal. PI Industries, Macrotech to shine The chemical manufacturer PI Industries is expected to maintain its growth momentum with better-than-expected sales growth and margin expansion. Macrotech Developers, which markets its properties under the Lodha brand, is expected to continue strong growth next year as well due to a strong pipeline, say analysts at Motilal Oswal. With the brand new year just around the corner, and several factors set to affect the markets, these commentaries from brokerages should make it easier to help build an equity portfolio in 2023. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/december-auto-sales-could-skid-sequentially-on-production-constraints-purchase-deferrals-due-to-inauspicious-period/articleshow/96617021.cms">December auto sales could skid sequentially on production constraints, purchase deferrals due to ‘inauspicious’ period</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/gautam-adani-man-of-the-year/articleshow/96610248.cms">Gautam Adani: Man of the year</a>

Stock picks for 2023: L&T, SBI, Axis Bank among top brokerage picks for the new year

<a href="http://www.businessinsider.in/searchresult.cms?query=Indian+stocks">Indian stocks</a> remained under pressure for the second day on Tuesday after earnings from major blue chips disappointed investors, prompting heavy sales on counters such as Lupin Ltd. and HDFC Ltd. Selling was also observed on Capital goods, energy and pharma stocks.
 

	Markets were muted also on account of the last week of the monthly expiry of derivatives contracts.
 

	The Nifty fell 28 points to end the day at 8,232 points. Maruti, Sun Pharma, UltraTech, BPCL and Asian Paints were top gainers on the Nifty while Lupin, ONGC, GAIL, HDFC and Bank of Baroda slipped in trade. The Nifty's <a href="http://www.businessinsider.in/searchresult.cms?query=Advance-Decline+Ratio">Advance-Decline Ratio</a> stood at 17/32.
 

	Axis Bank, Lupin and HDFC were the top traded stocks on the <a href="http://www.businessinsider.in/searchresult.cms?query=National+Stock+Exchange">National Stock Exchange</a>. Earnings from Lupin disappointed investors while those from Maruti, Alembic Pharma and TVS Motors were applauded by investors.
 

	Broader markets were bearish too with CNX 100, CNX 200 and CNX 500 benchmarks slippng about 0.2 percent each. Modest gains were seen on the mid cap and small cap benchmarks. The trend in the sectoral space was mixed with losses seen on indices tracking the Energy, Finance and Banking while the Auto, Media and Realty benchmarks inched up in trade.
 

	Sentiment was weak on the <a href="http://www.businessinsider.in/searchresult.cms?query=Bombay+Stock+Exchange">Bombay Stock Exchange</a> as well with the Sensex dropping 109 points, or 0.4 percent, to 27,253 points. GAIL, ICICI Bank, SBI and ITC dropped in trade while Maruti and Sun Pharma were top gainers. 11 stocks advanced on the Sensex compared with 19 that fell. 
 

	Lupin, HDFC and Larsen were the top traded stocks on the index.
 

	The bulls, meanwhile, remained on the backfoot in the wider market where 1,446 shares fell compared with 1,265 stocks that rose.
 

	The derivatives space was evenly matched with 83 futures rising compared with 80 that fell. Futures of TVS Motors, UPL and IRB Infra were top gainers while those of SKS Micro, Oil India and Apollo Hospital fell in trade.
 

	Stocks hitting new highs included Cosmo Films, NIIT Technologies and Aurobindo Pharma and those buzzing on the top volume gainers list were IFB Agro industries, Den Networks and Malwa Cotton Mills. 
	 
	Image credit: Indiatimes

Here's how the day was at the Markets

Bears remained in control of <a href="http://www.businessinsider.in/searchresult.cms?query=Dalal+Street">Dalal Street</a> for the fourth day in a row on Thursday as traders remained sellers mainly on the private sector banking space as also on the cement, power and capital goods sectors. Axis Bank, post lacklustre second quarter earnings, was the top loser on the indices. 
 
The Nifty fell 27 points to trade at 8,145 in the first hour of trade with BHEL, Ambuja Cement, IndusInd Bank and BPCL being the top losers along with Axis Bank. Buying was observed in defensives such as Dr. Reddy's, Cipla and Lupin as also in Cairn and Vedanta. The Nifty saw 20 shares gaining compared with 30 that slipped. 
 
Axis, Dr. Reddy's and Just Dial were the top traded stocks along with JP Associates, Suzlon and Unitech on the <a href="http://www.businessinsider.in/searchresult.cms?query=National+Stock+Exchange">National Stock Exchange</a>. 
 
Broader markets were mostly weak with CNX 100, CNX 200 and CNX 500 lost at least 0.2 percent each. Bit gains, however, were seen on the mid cap and the small cap space. The space for sectoral indices was mixed with the FMCG benchmark dipping 1 percent while indices tracking the realty, auto, energy, pharma and metals space inching up. 
 
The Sensex remained weak as well, dropping 46 points to 26,993 levels. TCS, Hindustan Unilever, Sun Pharma and GAIL were among losers while HDFC, Bajaj Auto and Tata Steel showed traction. The Sensex had an advance-decline ratio of 13/17 and Axis Bank, Larsen and Dr. Reddy's were the top traded counters. 
 
Broader markets, however, were dominated by the bulls with 1,152 shares gaining compared with 703 that fell. 
 
The futures market saw nearly 65 percent of the rollovers being completed on the last day of the monthly expiry and strong buying was seen on infrastructure and fertiliser futures. UCO Bank, Oil India and SKS Micro futures were top on the gainers list while Just Dial, post earnings, Power Finance Corp and CESC futures dropped in trade. 
 
Mphasis and Heritage Foods hit fresh highs while J&amp;K Bank dropped to a new low on the <a href="http://www.businessinsider.in/searchresult.cms?query=National+Stock+Exchange">National Stock Exchange</a>. 
 
Image credit: Indiatimes

Domestic stocks got off to a flier on Friday after the <keyword id="6356435" type="ORGANIZATION" weightage="100" keywordseo="US-Federal-reserve">US Federal Reserve</keyword> held back raising rates in the world's largest economy, saying the conditions were less than satisfactory for the much feared increase. 
 Global markets and asset classes have been in turmoil over the past month ahead of the US Fed's Sept 17th meeting which was widely anticipated to raise rates from near zero after more than 9 years. The sharp economic downturn in China and weak global growth scenario were among the reasons cited by Fed Chair Janet Yellen for holding back the expected rise. The Federal Reserve has now pushed the decision to its meeting in December. The reaction to the rate pause was muted on <keyword id="42111" type="COMPANY" weightage="100" keywordseo="Wall-Street">Wall Street</keyword> and in Asia. 
 However, the Nifty surged 105 points to 8,004 in early deals on Friday as the Fed overhang eased. Traders ramped up the entire market in anticipation of a return in foreign inflows, which have been negative for more than a month. Banks lead the rally on the Nifty. Axis Bank, Bank of Baroda, Lupin, ICICI and <keyword id="6354731" type="CITY" weightage="100" keywordseo="State-Bank-Of-India">State Bank of India</keyword> were the top five gainers. On the losers side were Tata Motors, Cairn, GAIL, Bajaj Auto and Hindustan Unilever. The Advance-Decline was a strong 44/6 on the Nifty, which reclaimed the 8,000-point mark for the first time since August 31st. 
 
SKS Micro, Tata Motors and Axis Bank were the top three traded stocks on National Stock Exchange. 
 
The mood was equally festive in the broader markets where the CNX 100, CNX 200 and CNX 500 indices gained more than a percent each. the Small Cap and the Mid Cap Indices were in a strong uptrend as well. All sectoral indices posted gains. The Bank Nifty lead the charge with a massive 2.3 percent rise and with all 12 constituents gaining ground. The CNX PSU Bank Index rose 2.7 percent and the CNX Finance index was up 2.1 percent. 
 The <keyword id="6484188" type="CITY" weightage="100" keywordseo="Sensex">Sensex</keyword> on the <keyword id="43628" type="CITY" weightage="100" keywordseo="Bombay-stock-exchange">Bombay Stock Exchange</keyword> quoted 341 points higher at 26,304 with 25 shares gaining compared with just 5 that slipped. Axis Bank, Wipro, Vedanta, Tata Steel and Maruti posted smart gains while Tata Motors and GAIL slipped in trade. 
 
Tata Motors, SBI and Axis Bank were the top traded counters on the Sensex. The bulls enjoyed their outing on Dalal Street with 1,290 shares advancing compared with 309 that fell. 
 
The sentiment was bullish in the derivatives space with Banks hogging the gainers list. Amtek Auto, Bajaj Finance and DHFL slipped in trade. Stocks that traded higher stood at 141 versus 20 that fell. 
 
A strong set of stocks made it to the top volume buzzers list. Future Consumer Enterprise, ENIL, CMC, Blue Dart and Aptech Ltd. were among the notables on the list. 
 
 
(Image credits: Indiatimes)

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