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IT companies are going through a mildly turbulent phase which may well last a couple of quarters. However, valuations are quite supportive, and we believe this is the right time to start building a position in the sector.

The Wall Street Journal reports that the United States and its key political allies are close to a deal to raise the debt ceiling and avert a disastrous default. This news is reassuring to investors, who have been pushing stock prices higher. The MSCI Asia Pacific Index rose 0.78% on Thursday.

The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock.

In the NSE list of stocks with a market cap of over Rs 1000 crore, six stocks crossed their previous 5-year high value at the close on May 17, suggesting bullishness in counters.

The Indian market is expected to edge higher on Thursday tracking positive global cues. The S&P BSE Sensex fell more than 300 points while the Nifty50 closed below 18200 levels on Wednesday. India VIX was down by 1.39% from 13.29 to 13.10 levels on Wednesday. Volatility had risen in the initial part of the day which awakened the bears but closed lower. On the options front, the weekly maximum Call OI is placed at 18400 and

On Wednesday, President Joe Biden and top US congressional Republican Kevin McCarthy underscored their determination to reach an agreement soon, pledging to negotiate directly on a deal amid estimates the Treasury could run out of money by the start of June.

Oil prices edged lower on Thursday as concerns over plentiful supply eased and investors watched developments around U.S. debt ceiling negotiations. However, U.S. oil inventories rose unexpectedly last week, weighing on prices.

Gold prices were flat in early Asian trade on Thursday as markets focused on the U.S. debt-limit negotiations. A firmer dollar capped gains after traders dialed back expectations of a rate cut this year by the Federal Reserve. Fundamentals include: spot gold steadied at $1,982.85 per ounce by 0046 GMT, while U.S. gold futures were also listless at $1,985.30. The dollar index held firm after hitting a seven

The U.S. dollar held near a seven-week peak on Thursday, after President Joe Biden and top U.S. congressional Republican Kevin McCarthy worked towards avoiding a damaging debt default. Meanwhile, the Aussie dollar slipped after disappointing jobs data. Yields rose when bond prices fell, helping lift the U.S. dollar. Against a basket of currencies, the dollar index firmed near its seven-week peak hit in the previous session.

The reason why it features in terms in our value bucket is obviously we are expecting that at some point of time over the next 12-18 months Axis will buy that incremental share in Max Insurance.