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The Nifty50, the benchmark index of the National Stock Exchange (NSE) of India, broke through the critical resistance level of 18,700 points and even closed higher at 18,726.40 points on Wednesday, signalling an attempt at an uptrend. Analysts predict that the Nifty could reach an all-time-high of over 18,889 in the short term, with immediate support at 18,650 and resistance around 18,900. The Nifty has already broken out of a sideways pattern, which positions it for a positive move ahead of the expected RBI rate decision tomorrow.

Indian stocks continued to rise as the S&P BSE Sensex gained over 350 points on Wednesday. The Nifty50 closed above 18700 levels, scaling to its first high since December 5, 2022. Telecom, utilities, metals, and capital goods sectors showed positive buying trends. Stocks that performed well include Suzlon Energy, Aster DM Healthcare, and Tata Motors - posting either a fresh 52-week high or a volume or price breakout.

A total of 484 shares changed hands on the counter till 01:53PM (IST).

Retail investors have consistently increased their stakes over the past three quarters in 139 smallcaps. Within a span of just over two months (March 31, 2023, to June 6, 2023), nearly 100 stocks from this list have yielded a double-digit return for their investors.

The stock quoted a 52-week high price of Rs 1747.15 and low of Rs 716.65.

IIFL Securities has listed its top largecap picks post Q4 earnings.

The currency, which was propped up by the central bank before the presidential election, fell five percent to 22.77 lira per dollar at around 0645 GMT.

Shares of Indian consumer goods companies surged on Wednesday after a favourable monsoon forecast from the Indian meteorological department (IMD). The Nifty FMCG index rose 0.93% in afternoon trade led by UBL and Britannia with Tata Consumer Products and Nestle also making significant gains. Rural demand, which has been muted for a few quarters, is critical for FMCG companies and a positive monsoon is essential for its revival. HDFC Securities expects a normalisation of volume and value growth with an expected rebound for rural demand.

The National Stock Exchange of India (NSE) on Tuesday announced that it will shift the futures and options (F&O) expiry of Nifty Bank to Friday from Thursday.

I think one strategy which has worked very well is that in any sector which you are positive on, if you go down the line, look at the tier III, tier IV or tier III or tier II companies or the midcap companies within that particular sector, then you will find that in bullish markets like this, those companies will tend to outperform the market leaders or the large cap companies within that sector.