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Overall, since the start of the interest rate hike cycle by the Fed, India has been among the best-performing large markets and this should continue in my view.

Bank of America joined rivals JPMorgan Chase and Wells Fargo in reaping windfalls from charging clients higher interest rates as the Federal Reserve raised borrowing costs to rein in stubborn inflation.

The survey also found, however, that more investors are expecting a "soft landing" for the economy, with 68% anticipating that scenario while expectations for a "hard landing" faded.

I personally feel it is a win-win situation from a shareholder point of view that this will be one of the largest NBFC cum financial service company in the capital market and how it shapes up over a period of two-three years with the current trend of all the fintech services like the big ones.

RIL has fixed July 20 as the record date to determine eligible shareholders for the allotment of shares of the demerged entity. Under the demerger scheme, RIL shareholders will get 1 share of the demerged entity Reliance Strategic Investments for every 1 share held by them in the conglomerate.

Buying was broad-based across market segments and sectors with IT and bank stocks leading the show. Among Nifty stocks, NTPC rallied over 3% after Goldman Sachs initiated coverage on the PSU counter with a buy rating.

The base of the index is shifting higher. It is forming a higher high formation from the last four sessions. “Now, Nifty has to hold above 19,650 zones to extend the move towards 19,850 then 20,000 zones while on the downside support is intact at 19,650 and 19,515 zones,” recommended Taparia.

IndusInd Bank on Tuesday reported a 32.5% year-on-year (YoY) rise in the net profit for the quarter ended June to Rs 2,124 crore. An ET Now poll estimated the profit at Rs 2,100 crore. Net interest income, the difference between interest earned and interest expended, rose 18% YoY to Rs 4,867 crore. The bank’s operating profit, before provisions and contingencies, grew 13% YoY to Rs 3,830 crore.

Dovish remarks from a European Central Bank policymaker boosted bonds and dragged the euro lower. Hotter-than-expected inflation lifted the New Zealand dollar a little and stoked some market nerves ahead of British CPI due later in the day.

​This indicates a bullish sentiment in the market, as the average traded and delivered quantity for 5 days, the cumulative open interest, and the price of the stocks have increased.​