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The momentum in the equity markets will likely continue on the positive news from the that there was an in-principle breakthrough in the debt ceiling negotiations

​Now, one can argue that a part of that is built into the stock prices, but I think this entire theory of worst is over, best is over and trying to juggle portfolios based on that is not a strategy which works very well. So we have to ride the winners till a point of time valuations become very high and the gap becomes excessive, which I do not think has happened still.

The fourth quarter earnings were mixed for companies with some hits and some misses.

A total of 5,119 shares changed hands on the counter till 10:41AM (IST)

In the NSE list of stocks with a market cap of over Rs 10,000 crore, 10 stocks crossed their previous 5-year high value at the close on May 26, suggesting bullishness in counters.

The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock.

We are now trading at 20 x F2024 earnings, which is in line with our 5-year average multiples. However, if we were to look at YTD numbers, MSCI India is down 2%, underperforming NASDAQ by 23% and MSCI World by 10% and MSCI EM by 4%.

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Bitcoin surged to a more than two-week high, rising by up to 3.2% on Monday and trading at around $28,182, thanks to investors boosted by a decision to raise the US debt limit. This is the fifth day in a row that the digital currency has recorded gains, thanks to a resolution of the US debt-ceiling impasse which helped global risk appetite. However, the agreement must still be passed quickly by Congress to avoid a US default, in addition to other potential headwinds such as a recent surge in Treasury yields and US monetary tightening.

Positive news flow on Jio as well as Reliance consumer products apparently boosted the sentiments for the stocks, which had been dominated by bears post the first half of May.