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    Stock Market Highlights: Sensex retreats 765 pts from day's high and Nifty50 sinks below 17,800 — rupee slides to 79.78 vs dollar

    Stock Market Highlights: Sensex retreats 765 pts from day's high and Nifty50 sinks below 17,800 — rupee slides to 79.78 vs dollar

    Stock Market Highlights: Sensex retreats 765 pts from day's high and Nifty50 sinks below 17,800 — rupee slides to 79.78 vs dollar
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    Summary

    Stock Market Highlights: Indian equity benchmarks BSE Sensex and NSE Nifty50 made a sharp U-turn in a volatile session on Friday, as losses in financial and oil & gas shares offset gains in IT shares. Broader markets also gave up initial gains, with the Nifty Midcap 100 and Nifty Smallcap 100 indices finishing more than one percent each. Globally, financial markets saw mixed moves as investors remained on the back foot on the prospects of steep increases in COVID-era interest rates. 

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    There is great merit in India Inc's growth story: MarketsMojo's Sunil Damania

    Sunil Damania, Chief Investment Officer at MarketsMojo, sees great merit in India Inc's growth story. 

    "India Inc's earnings for the June quarter have been reasonably admirable. Even though market pundits think otherwise, considering the environment under which India Inc has operated — global uncertainty, high crude oil prices, rising interest rates and other concerns, India Inc delivered YoY growth both in topline and bottomline," he says. 

    "We opine that Sensex could touch 65,000 by December 2022," he adds. 

    Very difficult to say how much market correction could be: Swati Kulkarni

    Swati Kulkarni, Executive VP and Fund Manager at UTI MF, tells CNBC-TV18 it is difficult to predict the magnitude of correction in the market. "When it comes to the corporate balance sheets and bank balance sheets, we are far better today. In terms of growth compared with other markets or other economies, we are growing better," she says. 

    "We have our own domestic demand potential and, yes, a global growth slowdown does affect us a bit and external pressures are there, but I think we are in a comfortable situation. That's the big picture for me," Kulkarni adds. 

    Market At Close | Nifty50 halts 8-day winning run

    Here are some highlights: 

    --Financial and realty stocks lead losses

    --All sectoral indices in the red — Nifty PSU Bank and Nifty Realty top losers

    --ONGC down one percent and MRPL top midcap loser following windfall tax cut on crude

    --IEX down 1.5 percent after sources say six of 13 states allowed to trade on power exchanges 

    --Sun Pharma falls two percent following US FDA observations on company's Mohali plant

    --Ambuja, ACC rise up to two percent on reports of SEBI nod for Adani group deal

    --IndusInd Bank top Nifty loser — down nearly four percent

    --MTNL rises six percent on news of telecom PSU operational merger 

    --Market breadth favours declines — advance-decline ratio at 1:2

    Stock Market Highlights: Sensex retreats 765 pts from day's high and Nifty50 sinks below 17,800 — rupee slides to 79.78 vs dollar

    Ambuja and ACC shares rise

    Ambuja Cements shares rose by Rs 10.5 or 2.6 percent to end at Rs 420.1 apiece on BSE, and ACC by Rs 23.7 or one percent to settle at Rs 2,349.2 apiece. 

    Stock Market Highlights: Sensex retreats 765 pts from day's high and Nifty50 sinks below 17,800 — rupee slides to 79.78 vs dollar

    Rupee ends lower at 79.78 vs dollar

    It had settled at 79.67 against the greenback. 

    Stock Market Highlights: Sensex retreats 765 pts from day's high and Nifty50 sinks below 17,800 — rupee slides to 79.78 vs dollar

    Large Trade | IIFL Finance shares worth Rs 475 crore change hands 

    A total of 1.38 crore IIFL Finance shares — representing 3.7 percent of the company's equity — worth Rs 475 crore change hands at Rs 345. 

    The stock was down 4.8 percent at Rs 333.5 apiece on BSE, having fallen as much as five percent earlier in the day. 

    Sell BEL, Coromandel International, Bank of Baroda: Hemen Kapadia 

    Hemen Kapadia of KRChoksey Securities has three 'sell' calls for traders: 

    --Sell Bharat Electronics for a target of Rs 272 with a stop loss at Rs 296 

    --Sell Coromandel International for a target of Rs 960 with a stop loss at Rs 1,070 

    --Sell Bank of Baroda for a target of Rs 114 with a stop loss at Rs 126 

    Havells suffers loss of Rs 150 crore due to fire at Neemrana Plant on July 28

    Stock Market Highlights: Sensex retreats 765 pts from day's high and Nifty50 sinks below 17,800 — rupee slides to 79.78 vs dollar

    Moody’s cuts China 2022 growth forecast to 3.5% from 4.5%

    Stock Market Highlights: Sensex retreats 765 pts from day's high and Nifty50 sinks below 17,800 — rupee slides to 79.78 vs dollar

    Sensex down 750 pts and Nifty50 slides below 17,750

    RBI floats discussion paper on IMPS, NEFT, RTGS charges

    The Reserve Bank of India (RBI) on Wednesday released a discussion paper on “Charges in Payment Systems”. The central bank has sought inputs from the general public on the paper till October 3, 2022. (Details here)

    We have received Rs 300 crore order from Tata and other groups: Nitin Khara of Confidence Petroleum

    Stock Market Highlights: Sensex retreats 765 pts from day's high and Nifty50 sinks below 17,800 — rupee slides to 79.78 vs dollar

    Buy Persistent Systems, Sell PVR: Prakash Gaba
    Here are two recommendations by Prakash Gaba of prakashgaba.com:
    -- Buy Persistent Systems for a target of Rs 3,950 with a stop loss at Rs 3,860
    -- Sell PVR for a target of Rs 1,800 with a stop loss at Rs 1,900

    Don't think current FII buying is temporary: Macquarie's Sandeep Bhatia

    Sandeep Bhatia, Head-Equity and Country Head-India at Macquarie Group, believes the current phase of FIIs buying Indian shares is not temporary. 

    “I would expect the continued interest which FIIs have shown. We have seen some buying happen recently across our desks and that should continue. I would expect this momentum to continue for the next couple of months well into the Diwali season," he tells CNBC-TV18. 

    Foreign institutional investors net sold Indian shares worth Rs 1,706 crore on Thursday, and domestic institutional investors emerged net buyers of equities to the tune of Rs 470.8 crore, in contrast to the trend seen in the past 13 days, according to provisional exchange data.

    Stock Market Highlights: Sensex retreats 765 pts from day's high and Nifty50 sinks below 17,800 — rupee slides to 79.78 vs dollar

    Sell Biocon, Apollo Hospitals: Mitessh Thakkar
    Here are two recommendations by Mitessh Thakkar of earningwaves.com:
    -- Sell Biocon for a target of Rs 300 with a stop loss at Rs 314.50 
    -- Sell Apollo Hospitals for a target of Rs 4,080-4,070 with a stop loss at Rs 4,230 

    Aviation stocks in focus after DGCA releases domestic aviation data
    Stocks of aviation companies — InterGlobe Aviation, Jet Airways, SpiceJet — moved mixed on Friday after the Directorate General of Civil Aviation released the data for the month of July on Thursday. (More here)

    Stock Market Highlights: Sensex retreats 765 pts from day's high and Nifty50 sinks below 17,800 — rupee slides to 79.78 vs dollar

    Buy L&T, Infosys: Manas Jaiswal
    Here are two recommendations by Manas Jaiswal of manasjaiswal.com:
    -- Buy L&T for a target of Rs 1,965 with a stop loss at Rs 1,904 
    -- Buy Infosys for a target of Rs 1,625 with a stop loss at Rs 1,590 

    Here's what the IT pack looks like at this hour

    Stock Market Highlights: Sensex retreats 765 pts from day's high and Nifty50 sinks below 17,800 — rupee slides to 79.78 vs dollar

    Some cooling off of demand may probably be good from attrition perspective: Rajesh Bhatia

    Rajesh Bhatia, Managing Director and Chief Investment Officer at ITI Long-Short Equity Fund, believes some cooling off of demand may be good for IT companies from the perspective of attrition of manpower costs. "Attrition we understand has started to kind of cool off and that's a positive. And if there is a soft landing in the US, my sense is all the IT stocks can continue to do well. So it really depends upon the narrative as to where the US is going, whether it is a soft landing, which is really the base case at this moment," he tells CNBC-TV18.

    However, in case the narrative changes to a deep recession, there is still the possibility of a larger or 15-20 percent decline in IT stocks, he adds. 

    Large Trade | CAMS shares worth Rs 459 crore change hands 

    A total of 19.8 lakh CAMS shares — representing four percent of the company's equity — worth Rs 459 crore change hands at Rs 2,320 apiece. 

    Stock Market Highlights: Sensex retreats 765 pts from day's high and Nifty50 sinks below 17,800 — rupee slides to 79.78 vs dollar

    ONGC, Axis Bank, Hindalco, Wipro and Titan top blue-chip gainers

    Stock Market Highlights: Sensex retreats 765 pts from day's high and Nifty50 sinks below 17,800 — rupee slides to 79.78 vs dollar

    Sensex and Nifty50 start day mildly higher

    Stock Market Highlights: Sensex retreats 765 pts from day's high and Nifty50 sinks below 17,800 — rupee slides to 79.78 vs dollar

    Stocks To Watch | ONGC, Mahindra & Mahindra and Indus Towers in the spotlight

    Asian shares a mixed bag

    Equities in other parts of Asia see mixed moves on Friday despite a strong session on Wall Street overnight, as investors around the globe try to read between the lines in minutes of the FOMC's last meeting released this week.

    MSCI's broadest index of Asia Pacific shares outside Japan is down 0.1 percent.

    --Japan's Nikkei 225: up 0.1 percent

    --Hong Kong's Hang Seng: up 0.3 percent

    --China's Shanghai Composite: flat

    --South Korea's KOSPI: down 0.2 percent

    --S&P 500 futures: down 0.1 percent 

    Global Cues | Crude oil edges higher on demand-supply concerns

    Wall Street indices rose on Thursday on Cisco boost

    US stocks ended higher Thursday as an upbeat sales forecast from Cisco Systems helped to lift the technology sector, while data showed the economy remained relatively strong.

    --Dow Jones: up 0.1 percent

    --S&P 500: up 0.2 percent

    --Nasdaq Composite: up 0.2 percent

    Sensex and Nifty50 hold on to 4-month closing highs

    Indian equity benchmarks finished a choppy session in the green on Thursday, with the Nifty50 taking its winning spree to the eighth session in a row. Minutes of the Federal Open Market Committee's last policy review raised hopes the US central bank may not be as aggressive with hikes in COVID-era interest rates as thought earlier. (Read more on the Aug 18 session)

    Stock Market Highlights: Sensex retreats 765 pts from day's high and Nifty50 sinks below 17,800 — rupee slides to 79.78 vs dollar

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