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Stocks in focus included names like Poly Medicure, which was up nearly 13%, L&T Finance Holdings, which rose nearly 5% to hit a fresh 52-week high, and EPL, which closed flat but is inching towards fresh 52-week highs.

The European Central Bank (ECB) increased interest rates for the eighth consecutive time and hinted that more measures may be on the horizon to manage high inflation. Despite decreasing commodity prices, the labour market remains tight, wage growth fast and underlying price pressures, particularly for services, have stayed high, which is why some policymakers have suggested a July rate hike and most are keeping an open mind about September.

Nifty has given a 5% return in the past 2 months, led by strong resilience in the Indian economy and the revival of FII flows. Amid this backdrop, brokerage Prabhudas Lilladher remains optimistic about sectors such as auto, banks, capital goods and hospitals.

Seven Indian stocks with a market capitalization over Rs 1,000 crore, featuring a Golden Crossover, have been identified by ETMarkets. This refers to a short-term moving average crossing over a long-term moving average, signaling an upswing in the markets. These crossovers can signify entry points for investors seeking potential price appreciation. They include Novartis India, Tata Metaliks, Vardhman Textiles, HIL, Subros, Nesco and Himatsingka Seide, in the healthcare, pig iron and ductile iron pipes, textile, building materials, automotive air conditioning, exhibition center, and textile production sectors respectively.

The Nifty index ended down 68 points after making consecutive higher highs, forming a short-term top reversal pattern. Analysts predict a range of consolidation between 18,800-18,500 and recommend holding above the 20-day moving average and support levels of 18,636 and 18,550. India VIX dropped slightly, causing premiums to squeeze, and options suggest a broader trading range of 18,450-18,900. The Bank Nifty is forecast to trend lower towards 43,000 and has breached its consolidation range of 44,000-44,500.

Dow falls 33 points; S&P 500 opens lower by 7.26 points and Nasdaq Composite drops 53.60 points

​PMS funds managed by Saurabh Mukherjea and Basant Maheshwari are among the worst performers over the last one year.

Among the Sensex stocks, Wipro, IndusInd Bank, SBI, Kotak Bank, HDFC Bank, ICICI Bank, and Infosys closed in the red, while Nestle, M&M, ITC, HCL Tech, and Asian Paints closed higher.

Seven stocks have been identified by ETMarkets as currently overbought based on the Relative Strength Index (RSI) readings. These stocks are Hindustan Aeronautics, JSW Steel, Tata Consumer Products, Britannia Industries, Bharat Electronics, UltraTech Cement and Cholamandalam Investment & Finance Company. The respective market caps of these companies are greater than Rs 75,000 crore and they operate across aerospace and defence, steel manufacturing, fast-moving consumer goods, food, defence electronics, cement, and financial sectors.

So, obviously, in tough times if you have invested in a company, it is not just you have invested in a stock, you have actually bought a part of the business of the company and that we need to understand because when I am actually investing in any company, I am actually co-owning that company.