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The freefall was arrested to an extent after US-based FII GQG Partners had signed a Rs 15,000 crore deal with Adani Group promoter entity SB Adani Family Trust to buy stakes in Adani Ports, Adani Green Energy, Adani Transmission and Adani Enterprises.

Jindal Steel & Power (JSPL) has broken out of its falling channel on the daily charts with strong volumes, indicating a bullish sign. Experts suggest that the breakout has opened room for the stock to retest its previous breakout zone in February 2023, and possibly even go beyond that. The stock is trading above most of its short and long-term moving averages and has formed a bullish candle on a monthly scale. The momentum is picking up as the RSI (relative strength index) moves higher towards 60 zones, and good momentum is seen in Metal stocks, suggesting that the stock is likely to outperform in the coming sessions.

A total of 20,020 shares changed hands on the counter till 02:14PM (IST).

Despite overall decent growth, corporate earnings will be largely driven by a few sectors and stocks. Financials make up 70% of the 90% incremental growth in this quarter, while autos contribute the rest. Consumer and IT stocks are expected to see tepid growth, while pharma is expected to make a comeback with a 9-10% growth rate, although this is also a six quarter high. Duggad is positive on real estate due as well.

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Devarsh Vakil, Deputy Head of Retail Research at HDFC Securities, suggests that value stocks in emerging markets provide good investment opportunities in the new financial year, and investors should avoid extremely expensive growth stocks.

According to data from tracker EigenPhi, the bot was able to make about $1.67 million in two days at a time when yields across DeFi have remained unattractive. The gains sent the total profits made by traders or entities using the strategy to nearly $4 million in the past month, the firm estimated.

Equity funds are expected to deploy cash holdings worth INR 63,000 crore ($8.4bn) into the Indian equity market as they await stability amid positive news on the macro front, says Pawan Bharadia, managing director at Equitree Capital. With the risk-reward scenario becoming favorable, Bharadia sees enough capital on the sidelines to be deployed that will find its way into the market as volatility stabilizes. Bharadia said Equitree was "optimistic" about equities in the mid-to-long term period with corporates expected to post better results due to the recent price corrections and continued business visibility.

Infosys stock, which is down over 35% from its all-time high level, is available at 21.71x PE vs its 5-year average PE of 25.59x. Similarly, IT bellwether TCS is down over 22% from peak and is not finding enough takers at 27x PE, below the 5-year average of 29x.

Worries about an economic downturn, which were also highlighted by the Fed at its March 21-22 policy meeting, and concerns about banking sector stress have encouraged markets to price in at least a 25-basis-point cut by the end of 2023.