Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside.

Asian stock markets are on course for a second consecutive month of losses, reflecting doubts about the post-pandemic recovery in China in particular, following weaker-than-expected factory activity in the world’s second largest economy. The MSCI’s Asia-Pacific index (outside Japan) was down 1% in early trading on 26 May, having fallen by 2.4% during the month as hopes for a stronger bounce-back in China have receded. Other factors mentioned include the likely inability of some advanced economy central banks to combat strong inflation, due to the uptick of China’s post-pandemic rebound.

The Australian dollar fluctuated after strong inflation data was offset by further indications of a slowdown in China. The Chinese currency slipped, reaching a six-month low in offshore trading. The yen also saw some fluctuations as it was little changed with the greenback at 139.82 yen, following a decrease of 0.46% on Tuesday after Japanese officials discussed the country's currency. The general manager at State Street in Tokyo believes the real line in the sand for Japan is 150 yen and if it surpasses 145 yen, Japanese officials are likely to start taking action.

Benchmark indices, S&P BSE Sensex and Nifty50, rose on Tuesday, supported by foreign institutional investor inflows and firm Asian markets. The financial services, services, teck, capital goods, bankex, IT and industrials sectors rallied, while commodities, energy, telecommunication, auto and consumer durables pulled back. Hikal gained 8.5%, while M&M rose 4.08%, though shares in ONGC fell nearly 5%. Technical analyst Viral Chheda recommends investors should buy Hikal at the current price, buy JSW Energy above INR270 ($3.63), and buy RVNL above INR123 when considering limited downside risk and upward potential of 6-8 months.

From price correction perspective, I would say that broadly, yes, the correction is behind. I would think that, of course, price is a leading indication which takes the lead before the order pipeline visibility or numbers come in, but still I would not see a runaway rise in the IT pack still.

Gold prices are heading towards their first monthly fall in three months, reflecting a reduced demand for bullion in light of potentially rising interest rates in the US and confidence in the country's debt deal. Spot gold has not moved from $1,958.02 per ounce with U.S gold futures at $1,957.80 remaining the same but down 1.6% for May. The possibility of the US Federal Reserve raising the interest rates next month has grown as economic data beats expectations.

U.S. stocks closed mixed on Tuesday. The S&P 500 and the Nasdaq Composite have recorded monthly gains in May, while the Dow Jones Industrial Average closed lower. Nvidia's surge briefly propelled the company into the elite club of firms valued at $1tn but fell shy of it at $991bn. The debt-ceiling deal between President Joe Biden and Republican House of Representatives Speaker Kevin McCarthy is likely to pass but has received opposition from some right-wing Republicans. Higher interest rates, a resilient economy, and inflation remain concerns for investors.

Oil prices bounced back slightly as traders waited for the outcome of a vote on a bipartisan deal aimed at agreeing to raise the US's debt ceiling. Brent crude futures rose 11 cents to $73.83 a barrel and US West Texas Intermediate crude gained 8 cents to $69.54 a barrel. Both had dropped by more than 4% on Tuesday. The returns of Brent crude were down by 7% and US benchmark crude by 9%. Market participants were also looking out for data on US crude stockpiles later in the day.

​This indicates a bullish sentiment in the market, as the average traded and delivered quantity for 5 days along with the cumulative open interest and price for the stocks have increased. ​

Option data suggests a broader trading range in between 18400 to 18800 zones while an immediate trading range in between 18500 to 18750 zones.

Patanjali Foods has recorded 13% growth in its standalone net profit at Rs 264 crore for the three months ended March period. Revenue from operations during the quarter under review rose 18% to Rs 7,873 crore.

Inflation is already moderating and the external account is sound, the Reserve Bank of India (RBI) said, but the El Nino and its adverse impact on rainfall remain potential threats to macroeconomic stability and food prices. Furthermore, moderating global growth, protracted geopolitical tensions and a possible upsurge in financial market volatility, evident in the implosion of many regional US banks, pose downside risks.

A Wadia group company with a stake in Indian biscuit maker Britannia Industries may become a point of contention for GoFirst's bankers. The bankers want loans obtained by the Indian carrier from Deutsche Bank to be collaterised in a common security pool. The consortium of public-sector banks funding GoFirst believes that collateral provided by Mauritius-based Leila Lands Limited for the loans obtained from Deutsche Bank is disproportionately higher compared to what was transferred for their loans, sources told The Economic Times.

The RBI is working to establish necessary recognition and resolution measures and is working on the proposed securitisation of stressed assets framework, which will play a crucial role in effectively dealing with rising non-performing assets (NPAs).

Contrary to expectations of a massive surplus transfer to the government, the central bank raised its Contingent Risk Buffer (CRB) by 50 basis points to 6%, when the Economic Capital Framework adopted in 2019 prescribed the 5.5% to 6.5% range.

Vedanta and Hon Hai, the assembler of a bulk of the world’s iPhones, have no previous significant experience in chipmaking. Their difficulty in finding production-ready technology underscores how hard it is to set up new semiconductor plants, massive complexes that cost billions to build and require very specialized expertise to run.

The HTM limits, which were raised to 23% of net demand and time liabilities (NDTL) from 19%, applied to government securities eligible under the statutory liquidity ratio (SLR) facilities.

"The Reserve Bank would endeavour to ensure smooth completion of the government borrowing programme in line with the guiding principles of debt management while ensuring stable debt structure for the governments," the central bank said.

In a similar move, ICICI Bank this week approved a proposal to increase its shareholding in ICICI Lombard General Insurance, aiming to establish the company as a subsidiary of India's second-biggest lender by market capitalisation.

The RBI's Payments Vision Document 2025 has already outlined expanding the global outreach of UPI and RuPay cards as one of the key objectives under the internationalisation pillar.

One of the most profitable units of the sprawling Adani Group, APSEZ reported earnings before interest, taxes, depreciation and amortisation (Ebitda) of ₹3,270.7 crore, 27% higher on year. Its cargo volumes increased 11% on year as it handled 86.3 million metric tonne of cargo during the quarter.

Interim resolution professional (IRP) of Go First stated that seeking directions to take possession of the aircraft from the Delhi High Court would be "contrary to law". Taking possession of the aircraft would stop the airline's operations and lead to significant losses.

"The scale of the opportunity is something that is very exciting ... but there is a lack of talent and it is one of the challenges," said Sumant Sinha, chairman and chief executive of ReNew. In the next seven years, India will have to add 60 GW of renewable energy capacity every year to meet its aspirations across power and green hydrogen, and trained manpower is needed for this, he added.

The company reported net profit of Rs 193 crore during the corresponding period of the previous year. Revenue from Operations at Rs 2,053 crore, up by 19% YoY.

The Securities and Exchange Board of India (SEBI) has issued comprehensive guidelines for Investor Protection Fund (IPF) and Investor Services Fund maintained by stock exchanges and depositories. The guidelines cover the constitution and management of the IPF, contribution to IPF by exchanges as well as depositories, and utilization of IPF. In addition, SEBI has issued a Standard Operating Procedure (SOP) indicating the process and timelines for the declaration of default of a trading member, processing of investor claims out of IPF, and review of claims. The new guidelines will be effective from 29 June.

The mutual fund (MF) industry in India risks disruption by individual misconduct, according to Securities and Exchange Board of India chairperson Madhabi Puri Buch. Speaking at an event, she urged the Association of Mutual Funds in India to create an ethical committee to tackle such problems, ideally on a self-regulatory basis. Buch added that she believed the sector could expand from INR40tn ($535.25bn) to INR100tn, but that the industry also needed to invest in technology and systems.

Gold prices rebounded on Tuesday as the dollar declined and Treasury yields dropped amid market optimism about the US debt ceiling arrangement. Spot gold surged 0.9% to $1,960.55 an ounce, while US gold futures increased 0.8% to $1,959.80. The lower dollar made bullion more affordable to non-US currency holders, while the 10-year Treasury yields hit a one-week low. Basic market optimism, along with traders squaring off end-of-month positions, further supported prices. However, gold could struggle until a new impetus comes along, according to Kitco Metals’ Senior Analyst, Jim Wyckoff.

Jagran Prakashan, the publisher of Dainik Jagran, reported a fall in consolidated net profit to INR 23.27 crore in the fourth quarter ended March 2023. This is a 55.86% decrease from the year-ago period. Revenue from operations was INR 459.38 crore, up 8.19% from the year-ago period, while total expenses rose 28.85% to INR 486.92 crore. For the fiscal year ended March 2023, the company's net profit was down 9.26% at INR 196.78 crore, while its revenue from operations rose 14.86% to INR 1,856.17 crore.

UK-based Abrdn is set to sell its 1.66% stake in HDFC Life via a block deal, which will take place on Wednesday. The stake is being sold at a price of INR563-585 ($7.62-$7.92) per share. During Q1 2021, HDFC Life Insurance posted a net profit of INR359 crore. Its net premium income for Q1 stood at INR19,426 crore, compared to INR14,290 crore year on year. Public shareholders have a 49.66% overall stake in the company, while mutual funds own around 4.09% and foreign investors have nearly 30%.

Aureus Investment Pvt Ltd plans to sell a 3.25% stake in Sona BLW Precision Forgings for INR950 crore ($115m) through a block deal, with the floor price for the sale being INR500 a share. The sale will involve up to 19 million shares, with the base size of 12 million shares, and the block will take place on 23 June. In March, private equity company Blackstone sold its remaining 20.5% stake in Sona BLW, which resulted in strong demand from foreign investors.

Indian equity benchmarks closed higher for the fourth consecutive day on Tuesday, supported by gains in banking, financial, capital goods, and industrial stocks, amid positive Q4 results and expectations of a normal monsoon season. The RBI annual report also suggested that India remains in an advantageous position, despite the uncertain global outlook. The Nifty rose 0.2% to close above 18,633, while the Sensex gained 123 points. The US and European markets remained cautious, with the Nasdaq closing higher. The MACD showed bullish trades on Tata Steel, Marksans Pharma, REC, NTPC, and India Cements, while Samvardhana Motherson, Stove Kraft, DLF, Apollo Hospitals, and GMDC saw bearish signs.

Wind energy solutions provider Suzlon Energy reported a consolidated net profit of INR320 crore ($42.5m) for the quarter ended 31 March. This contrasts with the same period in 2022 when it posted a net loss of INR205.52 crore ($27.4m). Total income for Q4 was INR1700 crore ($226m), a decrease from INR2478 crore ($329m) in 2022.

SBI Card on Tuesday said it plans to raise up to Rs 3,000 crore by issuing debentures to fund business growth. The decision to consider and approve the proposal for raising funds through the issuance of non-convertible debentures (NCDs) aggregating to Rs 3,000 crore would be taken in June 5 board meeting, SBI Card said in a regulatory filing.

Revenue rose 17% year-on-year (YoY) to Rs 2491 crore in Q4FY23. The company said the performance was led by robust growth across branded markets including India and Brazil, Torrent said its board has approved a fund raise exceeding Rs 5,000 crores.

Overall a total of 2.25 lakh fake notes were detected during the fiscal down from 2.30 lakh a year ago. Besides the sharp increase in the demonetised Rs 1000 notes, counterfeit notes of the newly introduced Rs 500 notes also rose sharply, increasing 14% to 91,110 pieces in 2022-23 from 79,669 pieces a year ago.

At 12:22 p.m. ET, the Dow Jones Industrial Average was down 117.43 points, or 0.35%, at 32,975.91, the S&P 500 was up 3.47 points, or 0.08%, at 4,208.92 and the Nasdaq Composite was up 68.09 points, or 0.52%, at 13,043.78.

The board has recommended a dividend of Rs 5 a share for the financial year ended March. The Adani Group firm recorded its highest-ever port cargo volumes at 339 million tonne in FY23, a 9% growth from the year-ago period.

For FY23, the company reported a 11% drop in consolidated net profit to Rs 1,282 crore, despite a 12.4% growth in revenue to Rs 8,749 crore.

Gold prices may undergo further correction, providing some relief to families preparing for weddings this season. The prices fell below Rs 60,000 per 10 gm on Tuesday and were hovering around Rs 59,980 per 10 gm. The long-term outlook for gold remains bullish. The decline in gold prices can be attributed to various factors like dollar appreciation, rising interest rates, and weak demand in spot markets. Investors are advised to wait for further fresh investment but can start accumulating as the prices can beat around Rs 58,500 but are not likely to go below Rs 58,000.

Renewable energy firm Suzlon reported a consolidated net profit of INR 319.99 crore during the March 2023 quarter, primarily due to reduced expenses. While the total income from operation dipped to INR 1,699.96 crore, the total expenses of the company declined significantly, helping to post a net profit over the same quarter last year, when the company had a net loss of INR 205.52 crore. Suzlon has cumulative orders of 1,542 MW, including an order book of 652 MW plus orders secured subsequently of 890 MW.

The company's revenues for the same period rose by 18% to Rs 7,873 crore, with the dividend recommended at Rs 6 (300%) per share for the year. Although sales of edible oils decreased, revenues from the food and FMCG section tripled YoY from Rs 452 crore to Rs 1,805 crore in Q4 of FY23. Patanjali said its food products had gained market acceptance and contribute over 68.30% in EBIT in FY23.

Force Motors shares hit a 52-week high of INR1,718.70 with a 20% upper circuit on 22 June after reporting a consolidated net profit of INR147 crore for the quarter ended 31 March, compared with a loss of INR42.77 crore for the same quarter last year. The auto manufacturer's revenue for the reporting quarter was INR1,490 crore, up 70% YoY. Despite selling pressure in the auto stocks, the small cap stock gained and has rallied by 25%, maintaining a four-session winning streak. Its 1-year returns stand at 62% compared to the Nifty Auto index's 22%.