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The BSE market capitalisation rose to Rs 257.51 lakh crore from Rs 253.13 lakh crore in morning session. The BSE Sensex climbed over 950 points while Nifty50 topped 16,200 in a day every three of four BSE stocks were trading higher.

Sumitomo Chemical India Ltd., incorporated in the year 2000, is a Small Cap company (having a market cap of Rs 21840.12 Crore) operating in Pesticides/Agro Chemicals sector.

Stocks which remained in focus included names like Godrej Industries, which rallied more than 10 per cent, Dr Lal PathLabs which rose more than 9 per cent, and Piramal Enterprises which plunged over 11 per cent.

"Till the market enters an uptrend phase, we avoid bottom fishing and remain defensive on the market, not looking to add risk. This also means selling or trimming the positions and preserving capital. The recent bounces in Nifty have been on low volumes, which can be highly deceiving when markets are trading 5-7% below their 50 and 200-DMA."

“One should really focus on front line banks and not go to the second tier banks protecting volatility in portfolios. So banking looks good but one should restrict oneself to leading banks rather than the tier II, tier III banks. Given various issues and also valuations being where they are, we would be on the sidelines in IT.”

"In June, some events like a rate hike and some geopolitical events like the Russia Ukraine situation will continue to make the market volatile. We believe that 15700 on the Nifty50 will again act as strong support. Investors should be cautious before investing. In the first week of June, the market is likely to remain positive as suggested by global data. We can see 16800 levels on the higher side and 16000 levels on the lower side."

Piramal Enterprises Ltd., incorporated in the year 1947, is a Large Cap company (having a market cap of Rs 40572.83 Crore) operating in Diversified sector.

LIC, Sun Pharma, IRCTC, Jindal Steel & Power, Delhivery, Jubilant FoodWorks and Aurobindo Pharma are among the companies which will announce their quarterly earnings today.

ICICI Bank Ltd., incorporated in the year 1994, is a banking company (having a market cap of Rs 514070.11 Crore).

​​Two months ago, Navi Mumbai International Airport, a subsidiary of Adani Enterprises, availed a long-term credit line from SBI for the greenfield project. The bank had committed the entire debt requirement of Rs 12,770 crore for the ambitious project.