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High dividend-paying stocks can help investors ride out volatile markets, especially in the times of high interest rates and weak global trends.

Topping the charts is Mumbai-based digital technology company Varanium Cloud whose shares have zoomed 463% since its Dalal Street debut in September-end. The Rs 31 crore IPO, which was sold at an offer price of Rs 122 per share, was subscribed over 5 times.

“Wall Street’s consensus equity allocation has been a reliable contrary indicator,” BofA strategists led by Savita Subramanian said Monday in a note to clients. “In other words, it has been a bullish signal when Wall Street strategists were extremely bearish, and vice versa.”

Momentum indicators RSI and MFI are trading in a medium range of 49.1 and 54, respectively which indicates a likelihood of further upside. A number below 30 indicates that the stock is trading in an oversold territory while above 70 is indicative of the stock trading in an overbought zone.

AMFI announces reclassification of shares twice a year. AMFI will release the official list in the first week of July 2023 and the fresh list will be valid for August 2023 to January 2024.

"The ISM manufacturing report for March was a dud," said economists at Wells Fargo. "The closest thing we get to good news in (the) report is that the slowing in the factory sector is pushing prices lower and supply chains are continuing to heal, benefiting from the slack.

"In the short term, demand is expected to rise for the summer driving season, but higher oil prices may intensify inflationary pressures and prolong interest rate hikes in many countries, which could dampen demand," he said. Kikukawa noted the impact could also reignite concerns about the global financial industry.

HDFC Bank Monday said its March-quarter advances climbed 17%, taking its total loan book to ₹16 lakh crore. The lender had a loan book of ₹13.66 lakh crore in the year-ago quarter. Provisional data also showed that total deposits expanded more than a fifth.

"The UP Power Corporation was the last among the regulators or agencies to give the go-ahead because it was a change in management. Other regulators such as the Competition Commission had also approved it. The money was transferred on March 31 and the control has now been transferred to MEIL," said a person familiar with the transaction

The fundraising is part of a $7 billion global medium-term note programme and will be used to finance power infrastructure projects in India or to refinance existing borrowings granted by the Reserve Bank of India in line with external commercial borrowing guidelines.