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Stock has consolidated near Rs 360-375 and currently has indicated a bullish candle pattern. Much upside potential; attractive on charts

HDFC AMC shares rallied 11.28% on Tuesday after Abrdn Investment sold its entire 10.2% stake through open market transactions for ₹4,079 crore. Abrdn was a co-promoter of HDFC AMC with HDFC. The stock fell 2.6% to ₹2,049 on Wednesday.

The Sensex hit an all-time high earlier in the day, but gains were capped as investors are wary of market reversals in the near-term. The index touched 63,588.31 on Wednesday - surpassing its previous high of 63,583.07 on December 1 - before closing at 63,523.15, up 195.45 points, or 0.31%, from the previous close.

​We should be able to build on these gains which we have seen in the last few months or so and typically I think we are moving out of a very narrow range after almost six months.

​Just in the last three months, they have pumped back some 35-40 thousand crores, less than 10% of what the outflow was and we are already at lifetime highs.

Nest and TCS expand strategic partnership to provide enhanced member experience. The contract value was signed for £840 million with an initial tenure of 10 years.

“Coming to the insurance sector, the first rally – the first wave took them from the lows of 2020 to the top of 2021-22. And from there, they gave back a lot of those gains, to the recent low that we have seen. Now we have started to pick up again. So this is the third wave and insurance stocks will go past the highs that we saw in 2022.”

PFS, which has been battling allegations of corporate governance lapses, has in the past year and a half seen resignations by several independent directors and got show-causes notices from both the stock market and banking regulators.

Almost 92% of FPIs inflow between June 1 and 15 went into just three sectors: financial services, capital goods, and auto, which have been favourites of overseas fund managers since the beginning of the year.

The five companies referenced in the order are Mauria Udyog Ltd., 7NR Retail Ltd., Darjeeling Ropeway Company Ltd., GBL Industries Ltd. and Vishal Fabrics Ltd.