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I think that from a large cap side, I would think that as the banks are getting beaten down or not performing despite strong performance, I think from a perspective of one or two years, I would think ICICI bank looks reasonably placed because operationally they have been doing well, balance sheet is very strong.

​But having said that, if somebody is taking a slightly longer-term view, there is absolutely no problem. Also, I must say that there is definitely a positive tailwind behind BFSI as a whole and banking in particular and the top banks like ICICI and HDFC Bank will definitely benefit because of the tailwind. The credit growth is there, asset quality is improving and also recoveries are happening.

​So, I think given the kind of impetus the government has given for growth in the country, the kind of global outlook towards India that has been improving and with so much of investments coming to the country and more expected in the next decade, I think we are in for a sweet spot in terms of manufacturing.

The S&P 500 and Nasdaq indexes reached their highest in 14 months as economic data eased concerns about inflation, increasing bets that the U.S. Federal Reserve is nearing the end of its aggressive interest-rate hike campaign. This helped offset worries about future rate hikes and boosted companies like Apple and Microsoft, which both reached record highs. Traders believe there is a 67% chance of a 25-basis point rate hike in July, followed by a potential rate cut by December. All 11 S&P 500 sector indexes rose, and the Dow Jones Industrial Average also increased.

The Bank of Japan (BOJ) on Friday maintained ultra-low interest rates and its forecast that inflation will slow later this year, underscoring its focus on supporting a fragile economic recovery.

ETMarkets has identified 9 stocks with a market cap of over Rs 10,000 crore that have shown a bullish MACD crossover signal, indicating a potential upward trend. Godrej Industries, Data Patterns (India), Carborundum Universal, UNO Minda, Asian Paints, Bata India, Honeywell Automation India, Indian Oil Corporation, and Coforge are the companies identified. These companies operate in various sectors such as consumer goods, electronics, automotive components, paints, automation, oil refining, and IT solutions, making them significant players in their respective markets and potential opportunities for investors.

Oil prices rose on Thursday due to a weaker dollar and a jump in refinery runs in China. Brent crude futures surged by 1.58% to $74.36 a barrel, while US West Texas Intermediate crude increased by 1.61% to $69.37 a barrel. Experts suggest that oil prices could receive further support in the coming months after voluntary production cuts by OPEC+ countries, alongside strong demand.

US Treasury yields saw its biggest one-day drop since May 30, with the yield on 10-year Treasury notes down 7.8 basis points to 3.720%, following the latest policy statement from the Federal Reserve. Despite unchanged weekly initial jobless claims in the US, which followed expectations at 262,000, the yield curve measuring the gap between yields on two- and 10-year Treasury notes remained negative, indicating reticence on the perceived strength of the US economy. Meanwhile, the European Central Bank increased borrowing costs for the first time in 22 years, while leaving the door open for further hikes.

A total of 2,751 shares changed hands on the counter till 01:48PM (IST)

In the overseas markets, both gold and silver were trading lower at USD 1,932 per ounce and USD 23.36 per ounce, respectively.