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While the Sensex closed at 63,385, up 467 points, the broader Nifty50 settled at 18,826, higher by 138 points

The Indian rupee had its best week against the US dollar since March, closing at 81.93 per US dollar on Friday, helped by strong foreign fund inflows and expectations that the Federal Reserve will lighten its aggressive stance on interest rates due to jobs and manufacturing data. The rupee rose 0.6% for the week on the back of very large corporate inflows and will be impacted by an expected rise in dollar-rupee forward premiums as bets of an aggressive Fed recede. The dollar index is set to log its worst week in five months on hawkishness from the European Central Bank.

The dollar index dropped to a fresh five-week low and settled lower by 0.81 per cent at 102.12 in the previous session on the back of weak US macro data and hawkish comments from the European Central Bank president that indicate another interest rate hike in July, Gandhi said

Investment expert Shankar Sharma advises small investors to adopt a marathon run approach when investing in Indian stocks. He suggests buying 50 stocks initially and, over two or three quarters, identifying 10 to 15 that perform very well. The poor performers should be sold and the capital reinvested into the winners. Sharma recommends younger investors focus on small- and mid-cap stocks when starting out, rather than the larger, more stable companies.

Nifty broke out above the 18,800 level and is close to surpassing the peak of 18,887 levels, accompanied by a long positive candle with minor upper shadow on the daily charts. The MACD showed a bullish crossover with a resistance level of 19,000 predicted to be on the horizon. Although the RSI and Nifty can keep the index strong, the moving averages are below the current index value, which reinforces a bullish outlook. Finally, the writers of call options at the 18,800 strike were seen closing their positions, signaling positive sentiment.

The bullish harami cross is a technical analysis candlestick pattern that can indicate a potential reversal in a downtrend and provide valuable insights for investors seeking to make informed decisions. This pattern features a large bearish candle followed by a small bullish candle completely engulfed by the previous bearish candle, signifying a shift in momentum. Stocks such as eClerx Services Ltd., Sharda Cropchem Ltd., Go Fashion (India) Ltd., Sonata Software Ltd., Zomato Ltd., EPL Ltd., Sona BLW Precision Forgings Ltd., Shriram Finance Ltd., and Balrampur Chini Mills Ltd. have all shown the bullish harami cross pattern, signaling potential opportunities for investors.

ETMarkets has identified eight stocks that have bullish MACD (Moving Average Convergence Divergence) crossovers, indicating potential upward trends. ICICI Lombard General Insurance, Indian Railway Catering & Tourism, Bajaj Finserv, Cholamandalam Investment & Finance Company, Housing Development Finance Corporation, Tube Investments of India, Hindustan Zinc, and Oil and Natural Gas Corporation could be worth considering for investment due to their strong market position and potential for growth in their respective sectors.

Dow Jones Industrial Average rose 55.96 points, or 0.16%, at the open to 34,464.02

The move sees it lower its holdings in the firm from 23.82% in March to 17.60% now. Domestic investors BNP Paribas Arbitrage and Franklin Templeton MF have ended up with a 1.63% and 0.84% stake respectively, while foreign investor Nomura has bought an 0.83% stake.

The first tranche of the Sovereign Gold Bond Scheme 2023-24 will be open for subscription from June 19-23, 2023, at an issue price of INR 5,926 per gram. The government has decided to offer INR 50 discount per gram from the issue price to investors who apply online and make payments through digital mode. The bonds will be sold through banks, designated post offices, and recognised stock exchanges. The scheme was launched in November 2015 to reduce demand for physical gold and increase financial savings. Bonds are denominated in multiples of gram(s) of gold with a basic unit of 1 gram.