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We did correct more than others in early 2023, but if you look at YTD returns, we are more or less in-line with global peers, whereas, on a year-on-year basis we are leading.

With the Fed looking to finally slowdown the interest rate hikes, a shift will be there in fixed income generating asset classes too. It is worth noting that SIP inflows are still healthy. It makes sense for the investors to continue with their investments and not deter from it.

The key initial reasons for the market correction globally since late 2021 were runaway inflation and unprecedented interest rate hikes by central banks to control the inflation. Both these factors have largely played out and equity valuations have fairly discounted the higher cost of capital today.

As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend.

Brokerages have retained their bullish stance on Bharti Airtel after the telecom operator reported almost in-line Q4FY23 earnings. Consolidated net profit rose by 50% YoY, helped by strong 4G user additions and higher data and voice services consumption. Jefferies, Morgan Stanley, Credit Suisse and Prabhudas Lilladher all maintained "Buy" or "Overweight" recommendations on the counter, with target prices ranging between Rs 860 to Rs 1,008. Analysts lauded strong subscriber additions, healthy FCF generation, and growth in homes and enterprise business.

On Wednesday, the Indian market is expected to consolidate as per market pundits. The Sensex fell over 400 points and the Nifty50 closed below 18300 levels on Tuesday, and the India VIX rose 0.93% from 13.17 to 13.29 levels. The options data suggests a broader trading range in the 18000 to 18600 zone while an immediate trading range is within 18100 to 18450 zones. Various experts recommend Transport Corporation of India, ICICI Securities, Coal India, Tata Power, Maharashtra Seamless, Gujarat Narmada Valley, Devyani International, and Sanghi Industries for traders with a short-term horizon.

The BSE Sensex was trading 80 points or 0.13% lower at 61,853. Nifty50 was trading at 18,268, down 18 points or 0.10% at around 9.23 am.

Jubilant Foodworks is expected to report a more than 50% decline in net profit at INR54.7 crore for Q4 2022, with sales rising by a meagre INR1,175 crore. Reports forecast a 9-10% like-for-like decline across QSR brands, while Kotak Institutional Equities predicts a 12-13% decline in average revenue per store due to store splits and subdued demand. Meanwhile, Devyani International’s net profit is expected to halve to INR37.8 crore in March Q4, with sales rising around 26% to INR746 crore, with KFC expected to report low single-digit sames-store sales growth while Pizza Hut experiences a mid-single digit decline.

United Spirits, incorporated in the year 1999, is a Large Cap company (having a market cap of Rs 58399.00 Crore) operating in Beverages - Alcoholic sector.

Indian IT major Wipro has announced a buyback of up to around 26.97 crore shares at INR 445 ($6.05) per share as part of plans to extinguish about 4.91% of its total share issuance. The tender offer will be worth INR 12,000 crore ($1.62bn) and will be open from the end of June. Wipro is conducting a remote e-voting of shareholders to seek buyback deal approval, with the result set to be declared on 3 June, followed by the release of the buyback timeline.