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Amber Enterprises was given a buy rating by Jefferies with a target price of Rs 3,120, owing to the expected growth of the domestic AC industry. Financial services company Motilal Oswal downgraded AU Small Finance Bank to a neutral buy with Rs 830 target price due to its rising cost of funds likely to impact its margins. JPMorgan remained neutral on Asian Paints with a Rs 3.128 target price.

The Nifty IT index was trading 0.11 per cent up at 29273.8.

Indian new-age tech firms such as Paytm and Zomato, which saw their stocks plunge by up to 60% in 2022 causing cumulative losses of Rs 2 lakh crore, could become profitable in the near future, leading to potential as multibaggers over the next decade, according to investors. Some of the firms, including Zomato, have already increased profitability as they look to shift from a growth-at-all-costs mentality to a more sustainable long-term approach. However, experts warn that these companies still face challenges, including increased competition and potentially challenging regulations, which could hamper their profitability in the future.

​​The big issue for India will be twofold. One is the national election that is due say around February of next year and results will be out end April, early May.

The stock quoted a 52-week high of Rs 2412.0 and a 52-week low of Rs 1513.3.

Option data suggests a broader trading range in between 18300 to 18800 zones while an immediate trading range in between 18400 to 18750 zones.

Data provided by CRISIL Market Intelligence and Analytics to ET showed that MF investments in AT-1 bonds crashed to ₹5,382 crore in April 2023, from ₹25,057 crore in January 2020.

Foreign investors have started to buy India back, partly because they are coming to India and realising the story is intact, two, because they are surprised by the resilience of the market and three, because they have started selling China again.

Oil prices increased on Tuesday due to the expectations that the debt ceiling deal in the US will spur more demand, although the gains were capped by fears of further interest rate rises and the possibility that OPEC+ will maintain output quotas. Brent crude futures climbed 0.5% to $77.42 a barrel, while US West Texas Intermediate crude went up 0.7% to $73.20 a barrel. The debt ceiling deal has led to greater buying in riskier assets, while lower than expected US oil stockpiles have also added support.

​It is a 2-day pattern with a green candle and followed by a short candle within the green candle’s range in an uptrend. This pattern suggests an upcoming change in the current bullish trend.​