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We are now trading at 20 x F2024 earnings, which is in line with our 5-year average multiples. However, if we were to look at YTD numbers, MSCI India is down 2%, underperforming NASDAQ by 23% and MSCI World by 10% and MSCI EM by 4%.

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Bitcoin surged to a more than two-week high, rising by up to 3.2% on Monday and trading at around $28,182, thanks to investors boosted by a decision to raise the US debt limit. This is the fifth day in a row that the digital currency has recorded gains, thanks to a resolution of the US debt-ceiling impasse which helped global risk appetite. However, the agreement must still be passed quickly by Congress to avoid a US default, in addition to other potential headwinds such as a recent surge in Treasury yields and US monetary tightening.

Positive news flow on Jio as well as Reliance consumer products apparently boosted the sentiments for the stocks, which had been dominated by bears post the first half of May.

Indian markets are on a positive note as the Sensex increased over 600 points and the Nifty50 closed at 18,500 levels boosting the bulls and aiding in the fresh leg of the index. India VIX reduced by 4.95%, giving strength to the bulls, making Options data scattered in various far strikes in the monthly series. Broader trading ranges fall between 18200 to 18800 zones, while immediate trading ranges fall between 18,300 to 18,650 zones. Various experts have suggested that traders with a short-term horizon should purchase stocks like Reliance Industries, IDFC First Bank, Canara Bank, Marico, Bharti Airtel, SBI, HCL Technologies, L&T, and Gujarat Gas.

Income growth worldwide is still pretty decent and the US income data in particular shows that consumers are still purchasing, maybe not goods as much as they used to, but services definitely and that is true in the US, that is true in large parts of Asia which means services inflation remains sticky and that is what we saw in the core personal expenditure data for the month of April that came out of the US late last week.

IDFC First Bank, incorporated in the year 2014, is a banking company (having a market cap of Rs 46227.58 Crore).

From the Sensex pack, M&M, HDFC, Kotak Bank, IndusInd Bank and HDFC Bank were the top gainers, rising 1-3%. Bajaj Finserv, NTPC, and Nestle also opened higher. Whereas, only Sun Pharma and Power Grid opened in the red.

The compromise after weeks of intense talks offers a path back from the precipice, even as the clock is still ticking down to the June 5 "X-date" when the Treasury estimates there might not be enough cash to pay bills and debts.

​The Futures Long Position Scans identify these stocks based on their increasing or decreasing buy positions.​