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The Nifty crossed the 18,500 mark for the first time this year, boosted by heavyweight Reliance Industries, which helped Sensex rise by 629 points while Nifty went up 1%. The market capitalisation of all listed companies on BSE also rose by Rs 2.24 lakh crore to Rs 282.57 lakh crore. Medplus gained 16% after reporting a two-fold jump in its Q1 profit, whereas Page Industries fell 9% due to weak demand. Despite US debt default fears, Asian markets were cautiously higher, with Japan leading gains.

The Nifty FMCG index crossed the 50,000 level to scale fresh record highs on Friday.

​ According to Motilal Oswal, investing in a diversified or sector fund will depend on your investment goals, risk tolerance, and market outlook.

Piper Serica is happy to add to its position in smallcap banks like Catholic Syrian and South Indian Bank as they see these banks as structural stories for the next four to five years. The solid credit demand environment from both retail and corporate customers is expected to have a positive impact on the banks which still remain undervalued compared to their larger peers.

The Nifty Pharma index closed 1.17 per cent up at 12601.55.

We have a more bearish view on the domestic outlook than the RBI governor, we have it at 5.3% for FY24. Now much of this is underpinned on the fact that this is a really, really challenging year for the global environment because we tend to forget this but interest rates have gone up quite sharply in the US, in Europe, in a number of developed markets.

ETMarkets.com has identified six stocks that demonstrate favorable financial indicators and have attracted attention from institutional investors like FIIs and MFs. These stocks have consistently achieved a sales growth rate exceeding 10% in each of the last four quarters of FY23.

Zee-Sony merger can deliver a 55-60% upside on valuation over the near to medium term, according to Karan Taurani, senior vice-president at Elara Securities. An immediate 10-15% rise could come on the basis of National Company Law Tribunal approval, with a further uplift expected due to synergies and business strategy execution.

On the technical charts, the RSI of the stock stood at 48.57.

Cryptocurrency markets experienced a slight increase in trading on Friday due to positive weekly unemployment data in the US. Bitcoin rose by 0.93%, reaching $26,450, and Ethereum was above $1,800. Other top crypto tokens, such as Litecoin, Polygon, and XRP, were also trading higher. The total volume in DeFi was around 1.73 billion. Investors are awaiting a clear resolution on the US debt ceiling conversations before making further decisions, according to a CoinSwitch Ventures executive. The global cryptocurrency market cap was trading at $1.11 trillion, a rise of 0.70% in the last 24 hours.