Stock Market Highlights: Sensex, Nifty 50 end off day's low, BSE cos market cap slip to lowest July

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Share Market Update | Kotak PMS's Anshul Saigal on banking and financial space

“We think that in banking and finance there is enough and more opportunity. If you look at this space in terms of valuations, on a price to book basis they are cheaper than pre-COVID levels. While stocks have rallied, but so have earnings gone up and book values have got accreted. As a result on price to book basis we are at very reasonable valuations even if we compare to pre-COVID levels. In the near term because of global issues, the macro environment for this space looks kind of uncertain but we have earnings visibility for the long term, and that should give support to the banking and financial space,” says Anshul Saigal, Head & Executive VP Kotak PMS. 

Market at Close | Nifty 50, Sensex end in the green, but off day's high

Sensex Rises 127 Points To 57,654 & Nifty 41 Points To 16,986

Nifty Bank Gains 36 Points To 39,431 While Midcap Index Slips 139 Points To 29,427

Nifty Bank Closes Flat After A Trading Range Of More Than 400 Points

ICICI Bank & Axis Drag Nifty While Reliance, Infosys & HUL Support

Pharma Stocks Rise In A Rangebound Session, Biocon, Lupin & Glenmark Top Gainers

All Adani Group Cos Post Losses For 1st Time In A Month, Mkt Cap Falls `31,000 Cr Today

HAL Rises For 2nd Straight Session As Co Sees A Healthy Response In OFS

Dalmia Bharat Gains More Than 2% After Co Sells Refratory Unit To Promoter Co

Power Stocks Slip On Concerns Related To Demand, IEX, Tata Power Top Losers

GNFC Remains Under Pressure On Continue Fall In TDI Prices, Stock Down 3%

Bandhan Bank Erases Recent Gains Seen Post NPA Sale, Stock Back Below 200

Diagnostic Stocks Move Higher As COVID Cases Rise, Metropolis Up Over 2%

Market Breadth Firmly In Favour Of Declines, Advance-Decline Ratio At 1:4

Market Cap Of BSE Companies Slip To Lowest level Since July 15, 2022

BSE Companies Erase Market Cap Of More Than `1.20 Lakh Cr

Stock Market Update | TVS launches seven new products in Ghana

TVS Motors revealed that the Bebek - TVS Neo NX, TVS HLX series – HLX 125, HLX 150 & HLX 150X, TVS Apache 180 and TVS King series - Deluxe & Deluxe Plus ISG will be available at all showrooms across Ghana. (Read more)

Share Market Update | HDFC board approves issuance of redeemable NCDs of Rs 57,000 crore in various tranches

The NBFC will issue these NCDs in accordance with the approval granted by the shareholders of the company at its 45th Annual General Meeting (AGM) held on June 30, 2022. (Read more)

Stock Market Update | AIA Engineering At 52-Week High

- Stock trading with gains of 2.3 percent at Rs 2,909.2
- Gains for the fourth straight day
- Has gained 12.5 percent so far this year
- Over the last 12 months, the stock has gone up by 75.25 percent

Nifty 50 Update | Earnings Growth Challenges Remain, Says Vetri Subramaniam of UTI AMC

- Market has gone nowhere in the last 18 months
- Market valuations are back to comfortable levels
- Valuations still not back to long-term averages, but comfortable with current levels
- There are some earnings growth challenges 
- Will look at equity only on a staggered basis

Nifty 50 Update | Reliance Industries, HDFC Bank Keeping Index Afloat

- Reliance Industries, HDFC Bank are the top two contributors to the Nifty 50 gains
- Reliance Industries is contributing 37 points to the index upside
- HDFC Bank is contributing 13 points to the index upside
- Nifty 50 is up 133 points
- 40 out of the 50 Nifty constituents trade with gains

Stock Market Update | Tata Power at 52-Week Low

- Shares trading 3.3 percent lower at Rs 186.50
- Down for the sixth straight day
- Stock has declined 10 percent over the last six sessions
- Shares are down 22 percent over the last 12-months
- The stock has corrected nearly 40 percent from its peak of Rs 298

Stock Market Update | SUN Mobility to power 50,000 electric two-wheelers of Zomato's fleet over next 2 years

Through this association, the last-mile delivery partners onboarded on Zomato's platform will benefit from convenient and cost-effective battery swapping solutions for their e-2Ws (electric two-wheelers), the company said in a statement. (Read more)

Market Update | Nifty Pharma index up 1.2%

The index is trading 1.2 percent or 144 points higher from its previous close. 16 out of 20 index stocks are trading with gains. Lupin, Biocon, Glenmark, up 3.1 to 3.8, are the top index gainers. Barring Glaxo, Pfizer, Gland Pharma and Sanofi, which are down 0.2 to 1.1 percent, all stocks are trading with gains. 

Cello World looks to raise around Rs 2,000 crore via IPO

Cello World is expected to file the IPO's Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) by August this year. Cello World owns 55 percent in Cello Wimplast, a listed entity in the Indian stock market. (Read more)

Share Market Update | Amalgamation with Butterfly to help Crompton unlock full potential of combined businesses: Brokerages

This merger will enable product innovation across both brands and allow simplification of corporate and governance structure. Butterfly is currently a strong brand in south India and Crompton looks at its expansion in non-south markets of India. However, the real value of the revenue synergies will start flowing through  FY24 onwards. (Read more)

Stock Market Update | Nykaa shares fall for sixth straight day amid resignation of five top executives

Shares of Nykaa are trading 2.4 percent lower at Rs 134.35. The stock has declined 13 percent so far this year.

Share Market Update | Top Stocks To Buy/Sell 

Here are two recommendations by Jay Thakkar of Marwadi Shares and Finance:

Buy Reliance Industries for a target of Rs 2,350 with a stop loss at Rs 2,200
Buy Biocon for a target of Rs 215 with a stop loss at Rs 199