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Experts suggest that Larsen & Toubro (L&T) stock is on track to reach a fresh record high in the next 2-3 months, as it has managed to rebound from its 50-daily moving average on the charts. The stock showed positive momentum in the last month and broke out from a falling channel pattern on the charts, allowing it to inch towards the Rs 2400 levels. The stock is now trading above most short and long-term moving averages and has also received bullish indicators from the Relative Strength Index and MACD.

The headline indices have experienced a not-so-tepid correction in valuations, with the small and midcap indices valuations suffering the most.The correction in valuations presents a good opportunity to invest and accumulate businesses that pass the Darwin test - survived and thrived over time and have significant MOATs

The Fed - which has embarked on one of its most aggressive rate hiking cycles in decades to defeat inflation over the past year - has forecast borrowing costs will remain around current levels to the end of 2023. But market participants believe tighter monetary policy is already starting to hurt growth and are betting on rate cuts later this year

Prices jumped by more than 6% on Monday after the Organization of the Petroleum Exporting Countries and allies including Russia, collectively known as OPEC+, pledged voluntary production cuts.

IIFL Finance, which had raised USD 400 million through its maiden dollar bond issue in February 2020, said the money will be used to pre-pay existing higher cost debt, which will help it save significantly on its borrowing costs.

A fine of Rs 55 lakh has been imposed on Indian Bank for contravention of certain Know Your Customer norms. Muthoot Money fined by Rs 10.50 lakh

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The market breadth favours bulls with 30 stocks advancing in the 50-stock Nifty50 at the closing time

The dollar is fluctuating in response to the anticipation ahead of the US non-farm payrolls report, due out on Friday. Economists expect the payrolls to have grown by 239,000 in March following February’s gain of 311,000. While nominal job growth has been high of late, it was reported earlier this week that the services and manufacturing sectors of the US economy were experiencing a slowdown. With the US stock market closed for the Good Friday holiday, the payrolls report is likely to cause heightened volatility in the market.

In my view, increased global uncertainty, a stable currency in 2023, and the incomplete transmission of previous aggressive rate hikes likely prompted the MPC to take a brief pause in the rate hiking cycle.