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Stock Market Highlights: Sensex ends 70 pts lower and Nifty50 below 18,100 amid losses in IT and financial shares

Stock Market Highlights: Sensex ends 70 pts lower and Nifty50 below 18,100 amid losses in IT and financial shares

Stock Market Highlights: Sensex ends 70 pts lower and Nifty50 below 18,100 amid losses in IT and financial shares
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Summary

Stock Market Highlights: Indian equity benchmarks BSE Sensex and NSE Nifty50 ended with minor losses on Thursday as weakness in financial and IT stocks offset strength in oil & gas and FMCG shares. Globally, investors remained in a cautious mood as they took the Fed's rate hike of 75 bps and Chairman Jerome Powell's hawkish remarks with a pinch of salt. Back home, Investors await more of financial results from India Inc for domestic cues, with Adani Enterprises, Hero MotoCorp and Vodafone Idea due to post their earnings later in the day.

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Nov 3, 2022 3:54 PM

Earnings in telecom are going to go up: Charandeep Singh
“We are of the view that there are some super trends in the Indian economy and in the Indian market. So one of those super trends is that earnings in telecom in general are going to go up a lot," Charandeep Singh, Co-Founder & Fund Manager at Girik Capital tells CNBC-TV18. "There is a lot of good tailwind from price increases that both Bharti Airtel and Reliance are benefitting from. So thematically telecom has been in our portfolio for a long time and we continue to hold these and believe in these earnings acceleration stories."

Nov 3, 2022 3:53 PM

Sensex and Nifty end with minor cuts

-- Banks continue to see buying with PSU Bank gaining the most amongst indices

-- Defence companies upmove continues, BEL and Mazagaon, Paras Defence top gainers

-- M&M Finance surges 14 percent after better-than-expected September quarter, Coromandel up three percent

-- SRF lower amid volatility, chem business in-line while other segments disappoint

-- Piramal Enterprises rises to over one-month high, closes with a gain of seven percent

-- Dalmia Bharat reports an in-line and commentary is positive, stock up three percent

-- Voltas is top midcap loser following concall, stock slides more than five percent

-- HPCL, Adani Wilmar slip while Indigo Paints close with gains after earnings

-- HDFC reports earnings, largely better than estimates, stock ends one percent lower

-- Market breadth neutral with advance-decline ratio at 1:1

Stock Market Highlights: Sensex ends 70 pts lower and Nifty50 below 18,100 amid losses in IT and financial shares
Nov 3, 2022 3:43 PM

Rupee ends higher at 82.88

Stock Market Highlights: Sensex ends 70 pts lower and Nifty50 below 18,100 amid losses in IT and financial shares
Nov 3, 2022 3:39 PM

SRF reports earnings for September quarter

Stock Market Highlights: Sensex ends 70 pts lower and Nifty50 below 18,100 amid losses in IT and financial shares
Nov 3, 2022 3:24 PM

Dip in Piramal triggered big discount to its peer group: Neil Bahal

“Some of the comparable peers of Piramal Pharma that are most expensive is Divis Laboratories which trades at forward multiple or 22x EV/EBITDA followed by Syngene International which is around 20x followed by Gland Pharma which has fallen off a cliff and come down to 17-17.5x valuation and Suven Life Sciences trades at about 16x," says Neil Bahal, Founder & CEO, Negen Capital PMS. "Because of the MSCI force selling, I think Piramal listed at Rs 212 to Rs 157 and at that point the valuation in Piramal had dipped to 9.5x FY25 earnings. So in my opinion it triggered a big discount to its peer group.”

Nov 3, 2022 2:55 PM

HDFC reports earnings for September quarter

"I think a very stable set of numbers because I think the expectations in terms of the top line growth are probably there at the right at the right time," Mayuresh Joshi, Head-Equity Research at William O' Neil tells CNBC-TV18. "I think what probably happens in terms of the merger I think that is what the street is more interested in. Asset quality pressures is obviously HDFC is impeccable on those numbers. But I think what happens with that, and the commentary related to that is something that street would look out for."

Stock Market Highlights: Sensex ends 70 pts lower and Nifty50 below 18,100 amid losses in IT and financial shares
Nov 3, 2022 2:44 PM

RBI meets to discuss inflation 

The Reserve Bank of India (RBI) is conducting an out-of-cycle meeting of the Governor Shaktikanta Das-led Monetary Policy Committee today. Market is worried as it comes a day after the Fed's policy review, where the US central bank decided to hike its benchmark funds range by 75 bps. (Read more)

Nov 3, 2022 2:28 PM

HPCL reports September quarter earnings

Stock Market Highlights: Sensex ends 70 pts lower and Nifty50 below 18,100 amid losses in IT and financial shares
Nov 3, 2022 2:04 PM

Indian Bank reports September quarter earnings

-- Net profit up 12.5 percent at Rs 1,225 crore vs Rs 1,089 crore year-on-year

-- NII up 14.7 percent at Rs 4,684 crore vs Rs 4,083 crore in the year-ago period 

-- Gross NPA at 7.3 percent vs 8.1 percent in the previous quarter

-- Net NPA at 1.5 percent vs 2.1 percent quarter-on-quarter

Stock Market Highlights: Sensex ends 70 pts lower and Nifty50 below 18,100 amid losses in IT and financial shares
Nov 3, 2022 1:45 PM

Bank of India reports earning for September quarter 

Stock Market Highlights: Sensex ends 70 pts lower and Nifty50 below 18,100 amid losses in IT and financial shares
Nov 3, 2022 1:35 PM

Dalmia Bharat concall takeaways
-- Worst is behind and expect reasonable margin recovery in coming quarters
-- Company targeting to grow 1.5x industry volumes’ growth
-- Company is open for organic/inorganic expansion

Stock Market Highlights: Sensex ends 70 pts lower and Nifty50 below 18,100 amid losses in IT and financial shares
Nov 3, 2022 1:23 PM

Likhitha Infra bags orders worth Rs 305 crore

Stock Market Highlights: Sensex ends 70 pts lower and Nifty50 below 18,100 amid losses in IT and financial shares
Nov 3, 2022 1:11 PM

Buy State Bank of India, Aditya Birla Capital, NLC India: Himanshu Gupta

Here are some recommendations by Himanshu Gupta of Globe Capital:
-- Buy State Bank of India for a target of Rs 600-605 with a stop loss at Rs 570 
-- Buy Aditya Birla Capital for a target of Rs 126-130 with a stop loss at Rs 116 
-- Buy NLC India for a target of Rs 90 with a stop loss at Rs 77 

Nov 3, 2022 12:42 PM

ICICI Bank, Axis Bank and SBI top boosts for Sensex and Nifty

The three stocks lend the biggest support to headline indices. Here's a look at the biggest movers and shakers for the 30-scrip index at this hour: 

Stock Contribution (pts)
ICICI Bank 42.6
Axis Bank 34.94
SBI 27.73
Bharti Airtel 22.63
ITC 19.35
Tech Mahindra -13.04
M&M -14.63
HDFC -22.46
TCS -29.15
Infosys -37.57
Nov 3, 2022 12:21 PM