Nifty50

Nifty 50 index advanced 94 points to settle at 19,529 while the Sensex ended at 241 points higher at 65,628.

While navigating through the Nifty50, keep the following tips in mind to be able to choose the best stocks:

Symptomatic of this transformation is HDFC Bank, India’s second largest listed company by market cap. All the Executive Directors on the Board of the bank are graduates of Mumbai University and the rise of such executives is now the norm in India, Nandita Rajhansa and Saurabh Mukherjea of Marcellus Investment Managers said.

Vinod Nair, Head of Research at Geojit Financial Services said the domestic market passed through a volatile week, with the benchmark index underperforming its broader peers.

The miss in terms of operating earnings was largely driven by IT services, cement, and FMCG. Overall, the domestic demand momentum continues in banks, cement, and real estate; while FMCG was a laggard. Broadly, we continue to believe that the market appears to be capped in the near term given elevated valuation amidst slower growth in advanced economies in the near term, the report said.

"In the current financial year both mid cap index and small cap index have outperformed Nifty 50. This is primarily due to mean reversion. However, we believe in looking at a portfolio from a diversified perspective," Feroze Azeez, Deputy CEO, Anand Rathi Wealth Limited, told IANS.

Emkay Global expects Nifty to attain a level of 19,500 by December 2023 given the current situation. "Barring any major change in the global macro-economic and geo-political set-up Sensex at 64,500 indicating a 7-8 per cent increase from the current levels," the company said. Largely, the increase in Nifty-50 profit after tax (PAT) in CY23 will be led by Banks, Auto OEMs and Ancillaries, Oil & Gas, and the IT companies, the company added.

Sensex closed at 54,288.61 points, down 37.78 points or 0.07 per cent, whereas Nifty was at 16,214.70 points, down 51.45 points or 0.32 per cent. Among the individual stocks, Mahindra and Mahindra was the top gainer at 4.1 per cent, while JSW Steel was the top loser at 13.2 per cent among the Nifty50 companies.

All India market capitalisation of BSE-listed companies are currently at 2,69,58,392 crore, against 27,212,168 crore on April 13. Equity markets were closed on Thursday and Friday on account of Dr. Baba Saheb Ambedkar Jayanti/Mahavir Jayanti and Good Friday, respectively. Continuing its downtrend from the morning session, benchmark Sensex and Nifty indices plunged around 2 per cent each at the writing of this report.

Subdued global cues dampened India's equity indices -- S&P BSE Sensex and NSE Nifty50 -- on Thursday. Both the indices closed marginally lower after opening in the positive territory. Globally, markets tanked after inconclusive talks between Russia and Ukraine and weak Chinese manufacturing data. On the domestic front, heavy selling pressure was witnessed in the healthcare stocks.