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The Nifty IT index was trading 0.13 per cent up at 27779.75.

A total of 12,025 shares changed hands on the counter till 11:33AM (IST)

The Sensex rose by up to 187 points, as the US Federal Reserve announced a 25-basis point rate hike, with Nifty hitting the 18,140-mark. The Federal Reserve implied that this would be the last rate hike of the cycle, a sentiment that was welcomed by the markets.

Most analysts expect the benchmark Nifty to march towards 18,300 and 18,400 during the month. In this scenario, Axis Securities has picked 10 small and midcap stocks for May that can rally up to 55%.

From the Sensex pack, Tata Steel, L&T, Bajaj Finance, Nestle, NTPC, TCS and Tata Motors opened with gains, while HCL Tech, Tech Mahindra, Power Grid, and ICICI Bank opened with cuts. Shares of ABB India rose over 4% after its Q4 earnings. GR Infraprojects gained over 3% as it emerged as the lowest bidder for road transport tender worth Rs 737 crore.

On the technical charts, the RSI of the stock stood at 83.44.

The Indian equity indices, Nifty 50 and S&P BSE Sensex, opened flat on Thursday. The former rose by 0.07% to settle at 18,102, while the latter surged by 0.07% to reach 61,237 in the morning. However, on Wednesday, S&P BSE Sensex dropped over 100 points while Nifty50 held on to the 18,000 levels. According to Chandan Taparia, an analyst-derivatives at Motilal Oswal Financial Services, the Nifty50 needs to hold above 18,081 zones to witness an uptrend. Several experts have also made recommendations for short-term traders.

Macquarie has an outperform rating on ABB India, with a target price of Rs 3750. Growth across several segments and double-digit EBIT margins in most segments were seen in the March quarter. Jefferies retained a hold rating on Havells India with a target price of Rs 1335, citing that most positives appear priced-in at the current PE. JPMorgan has an overweight rating on Cholamandalam Investment & Finance with a target price of Rs 1020 as the company recorded a margin improvement and maintained system-leading growth. Emkay maintained its hold rating on Titan Company with a target of Rs 2620, post March quarter results.

The stock quoted a 52-week high price of Rs 432.8 and a 52-week low of Rs 132.55.

Promoters held 51.5 per cent stake in the company as of 31-Mar-2023, while FII and DII ownership stood at 6.91 per cent and 2.25 per cent, respectively.