Given the current market volatility, auto stocks seem to be a better bet for long side trades. Select stocks like M&M and TVS Motor can rally up to another 12 per cent.
The small-caps were hit on the chin with the S&P BSE Small-cap index slipping nearly 7 per cent thus far during in FY23, underperforming the S&P BSE Midcap and the BSE 500 indexes
Investors were also nervous ahead of the release of the minutes of the Federal Open Market Committee's meeting later Wednesday
Budget 2023: Analysts said the Budget push in the capital expenditure (capex) outlays across sectors and the income tax relief have been the top boosters to support the domestic economy
The market sentiment got a boost from jobs and services data in the US, which hinted at a cooling economy prompting bullish bets from investors
The 30-share BSE Sensex fell 293.14 points or 0.48 per cent to settle at 60,840.74 on Friday. During the day, it had risen by 258.8 points or 0.42 per cent to a high of 61,392.68
Friday's correction saw a sharp short-covering on Monday as market put aside fears around the Covid-19 situation in China
Analysts say the correction is nothing to be worried about as it is typical of markets to consolidate after reaching new record highs
CLOSING BELL: Sectorally, defensive indices like the Nifty FMCG and Pharma held gains as they rose 0.8 per cent and 0.4 per cent
Railway stocks: In the upcoming budget, the railways has reportedly sought gross budgetary support (GBS) of Rs 1.5-1.8 trillion over the Rs 1.37 trillion figure earmarked during Budget 2022-23
CLOSING BELL: Individually, Punjab and Sind Bank (PSB), Bank of India, Bank of Baroda, Central Bank of India, Indian Overseas Bank, and UCO Bank gained between 6 per cent and 15 per cent
CLOSING BELL: The central bank increased repo rate by 35 basis points and lowered GDP growth forecast for FY23 to 6.8 per cent as it remained cautious of a sticky core inflation amid global turmoil
CLOSING BELL: Among sectors, the Nifty IT index fell 1.5 per cent, while the Nifty PSU Bank index gained 1.2 per cent
CLOSING BELL: RIL (down 1.45 per cent), Tech M, Dr Reddy's Labs, Bharti Airtel, Axis Bank, and TCS were the top laggards
CLOSING BELL: The NSE Nifty shut shop at 18,696, down 117 points. Broader indices - BSE Midcap and Smallcap bucked the trend, and were up 0.8 per cent and 0.7 per cent, respectively, on Friday.
CLOSING BELL: Global cues triggered by Powell's positive remarks boosted sentiment. The Sensex scaled a new high at 63,583, while the Nifty 50 came within striking distance of 18,900 on Thursday.
CLOSING BELL: The S&P BSE Sensex scaled a new summit at 63,303, and settled above 63,000-mark for the first-time ever. The Nifty 50 hit a new all-time high at 18,816 on Wednesday.
CLOSING BELL: The S&P BSE Sensex hit a fresh life-time high at 62,887, and the Nifty 50 registered a new summit at 18,678 on Tuesday.
CLOSING BELL: The S&P BSE Sensex hit a fresh life-time high at 62,701, and the Nifty 50 registered a fresh summit at 18,614 on Monday
Similarly, the broader NSE Nifty dipped 36.25 points or 0.20 per cent to end at 18,307.65