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    Stock Market Highlights: Sensex rebounds 859 pts from day's low amid volatile trade and Nifty surpasses 17,550

    Stock Market Highlights: Sensex rebounds 859 pts from day's low amid volatile trade and Nifty surpasses 17,550

    Stock Market Highlights: Sensex rebounds 859 pts from day's low amid volatile trade and Nifty surpasses 17,550
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    Summary

    Stock Market Highlights: Indian equity benchmarks BSE Sensex and NSE Nifty50 finished a volatile session on Tuesday in the green, powered by gains in financial, oil & gas and auto shares though losses in IT stocks limited the upside. Broader markets also strengthened, with the Nifty Midcap 100 and Nifty Smallcap 100 indices rising more than one percent each. Equities in other parts of the world remained under pressure as nervousness persisted among investors ahead of a key gathering of central banks in the annual Jackson Hole symposium in the US this week.

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    Thank you, readers! That's all from CNBCTV18.com's live market coverage on August 23, 2022. Stay tuned for other updates on our website: CNBCTV18.com.

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    IT companies face margin pressure in near term: Anand Tandon 

    Market expert Anand Tandon prefers an equal weight strategy on IT. "There is no question that you are not going to get the same kind of performance as you got over the last few months," he adds. 

    Rupee closes nearly unchanged at 79.86 vs US dollar

    Stock Market Highlights: Sensex rebounds 859 pts from day's low amid volatile trade and Nifty surpasses 17,550

    Market At Close | Sensex and Nifty50 make sharp recovery from day's lows 

    Here are some highlights: 

    --Financial stocks see a sharp recovery from day's lows led by ICICI Bank, SBI and Kotak Mahindra Bank

    --TCS, Infosys and HCL Tech top Nifty losers following brokerage downgrades 

    --Adani Group stocks slide — Adani Power falls five percent and Adani Green four percent 

    --Auto stocks surge on expectations of strong demand — M&M, Eicher rise three percent

    --Titan rises three percent on expectations of improved festive demand

    --RBL, IDFC First, NMDC, Bank of Baroda, AB Fashion top midcap gainers

    --Mphasis, Sun TV, Persistent, HPCL, Coforge, PI Industries top midcap laggards

    Stock Market Highlights: Sensex rebounds 859 pts from day's low amid volatile trade and Nifty surpasses 17,550

    Positive on manufacturing and industrial theme: Shibani Sircar Kurian

    Shibani Sircar Kurian of Kotak Mahindra AMC tells CNBC-TV18 she is positive on the manufacturing and industrial theme. She also likes banking and financial stocks given their attractive valuations, and auto shares, the PV segment in particular. 

    Kurian finds valuations in the cement pack fairly attractive and believes the space will be rational on the pricing front. 

    CNBC-TV18 Exclusive | Taj, Leela, Hilton, Andaaz among 22 companies to have participated in Hotel Ashok’s monetisation roadshow: Sources 

    Stock Market Highlights: Sensex rebounds 859 pts from day's low amid volatile trade and Nifty surpasses 17,550

    HOCL phenol and cumene plant at Kochi to be temporarily shut from Aug 24 

    Stock Market Highlights: Sensex rebounds 859 pts from day's low amid volatile trade and Nifty surpasses 17,550

    Banking sector remains a favourite: ICICI Prudential Life's Manish Kumar

    Manish Kumar, CIO at ICICI Pru Life, tells CNBC-TV18 that he expects the the financial sector, especially some of the banks with high CASA ratios, to report fairly good earnings for at least the next two quarters.

    From Bloomberg | SpiceJet Chairman says exploring fund raising options

    Stock Market Highlights: Sensex rebounds 859 pts from day's low amid volatile trade and Nifty surpasses 17,550

    Buy Radico Khaitan and Tata Consumer: Globe Capital's Himanshu Gupta

    Himanshu Gupta of Globe Capital shares two trading calls: 

    --Buy Radico Khaitan for a target of Rs 1,050 with a stop loss at Rs 970 

    --Buy Tata Consumer for targets of Rs 825 and Rs 840 with a stop loss at Rs 795 

    Ruchira Papers to consider bonus issue on August 30

    Stock Market Highlights: Sensex rebounds 859 pts from day's low amid volatile trade and Nifty surpasses 17,550

    Buy Bharti Airtel, Cholamandalam Finance: Tradebulls' Sacchitanand Uttekar

    Here are two trading calls from Sacchitanand Uttekar of Tradebulls: 

    --Buy Bharti Airtel for a target of Rs 780-785 with a stop loss at Rs 720 

    --Buy Cholamandalam Finance for a target of Rs 826-830 with a stop loss at Rs 764 

    CNBC-TV18 Exclusive |  Nestle India's Suresh Narayanan says a lot of consumption is back as COVID fades    

    In an exclusive interaction with CNBC-TV18, Suresh Narayanan, Chairman and Managing Director of Nestle India, says the company's volume growth in the April-June period was fairly encouraging. 

    The company made a conscious decision to protect its growth engine, he says. 

    He also says the company will closely track food inflation, which remains a concern, going forward. 

    Stock Market Highlights: Sensex rebounds 859 pts from day's low amid volatile trade and Nifty surpasses 17,550

    UPL at day's high

    Stock Market Highlights: Sensex rebounds 859 pts from day's low amid volatile trade and Nifty surpasses 17,550

    Can't give forward guidance on rate hikes: Shaktikanta Das

    JP Morgan downgrades all IT players from overweight to neutral
    JPMorgan has downgraded Infosys, Tech Mahindra, Mphasis and Persistent Systems to ‘neutral’ rating from ‘overweight’ rating as it expects the margin erosion to persist in the medium-term and stay meaningfully below the long-term average. (Here's why)

    Reliance near day's high

    Stock Market Highlights: Sensex rebounds 859 pts from day's low amid volatile trade and Nifty surpasses 17,550

    Buy Avenue Supermarts, Shanthi Gears: Mitessh Thakkar
    Here are two recommendations by Mitessh Thakkar of earningwaves.com
    -- Buy Avenue Supermarts for a target of Rs 4,400 with a stop loss at Rs 4,117 
    -- Buy Shanthi Gears for a target of Rs 290 with a stop loss at Rs 253 

    Rare Enterprises-backed IKS Health to file IPO DRHP next month: Sources

    Stock Market Highlights: Sensex rebounds 859 pts from day's low amid volatile trade and Nifty surpasses 17,550

    Buy NMDC, RBL Bank: Vishal Malkan
    Here are two recommendations by Vishal Malkan of www.malkansview.com:
    -- Buy NMDC for a target of Rs 129 with a stop loss at Rs 112 
    -- Buy RBL Bank for a target of Rs 112 with a stop loss at Rs 96 

    Unichem Lab gets US FDA nod for Carbamazepine tablets 

    Stock Market Highlights: Sensex rebounds 859 pts from day's low amid volatile trade and Nifty surpasses 17,550

    Market has become pessimistic in recent days: Steve Englander of Standard Chartered 

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

    Stock/index Change (%)
    NIFTY IT -1.58
    MINDTREE -0.7
    WIPRO -1.02
    LTI -1.09
    TCS -1.16
    COFORGE -1.47
    HCLTECH -1.5
    LTTS -1.74
    INFY -2.04
    TECHM -2.1
    MPHASIS -2.68

    The IT basket has underperformed the overall market in the past few weeks. The Nifty IT has recovered nearly all of its losses in the past three months, a period in which the benchmark Nifty50 has given a return of 8.1 percent. 

    Stock Market Highlights: Sensex rebounds 859 pts from day's low amid volatile trade and Nifty surpasses 17,550
    Not all large IT companies going to have a broad-brush performance: Prakash Diwan
     
    Market expert Prakash Diwan finds the IT space interesting. "It will give us reasons to dissect and segregate how to expect companies to perform," he tells CNBC-TV18.
     
    "It's not going to be a broad brush performance for all large companies. So there are definitely some differentiators that will come about if this gets to be a slightly deeper trend," he adds. 

    Large Trade | Devyani International shares worth Rs 537 crore change hands

    A total of 2.94 crore Devyani shares — representing 2.4 percent of the company's equity — worth Rs 537 crore change hands at Rs 185.3 apiece. 

    Stock Market Highlights: Sensex rebounds 859 pts from day's low amid volatile trade and Nifty surpasses 17,550

    Nifty Metal rises nearly 1%

    Stock Market Highlights: Sensex rebounds 859 pts from day's low amid volatile trade and Nifty surpasses 17,550

    Rupee inches higher against dollar

    Stock Market Highlights: Sensex rebounds 859 pts from day's low amid volatile trade and Nifty surpasses 17,550

    Market At Open | Sensex falls over 550 pts and Nifty50 near 17,350

    Stock Market Highlights: Sensex rebounds 859 pts from day's low amid volatile trade and Nifty surpasses 17,550

    MarketBuzz Podcast With Sonia Shenoy

    Catch the big themes, vital news and key events you should know before the opening bell. MarketBuzz is your daily morning briefing by CNBC-TV18 research analysts and anchors to kickstart your day. (Tune in)

    Stock Market Highlights: Sensex rebounds 859 pts from day's low amid volatile trade and Nifty surpasses 17,550

    Some consolidation on the cards if Nifty defends 17,300 today: Ashika Stock Broking's Tirthankar Das

    Tirthankar Das, Technical and Derivatives Analyst-Retail at Ashika Stock Broking, is of the view that the Nifty50 may undergo some consolidation if it defends the 17,300 mark in Tuesday's session. However, he feels that a break of this support level can drag it towards 17,000.

    "Momentum oscillator MACD gave a sell signal on the daily charts. On the upside, until and unless Nifty provides a decisive close above the gap area of 17690-17710, positive momentum in the market is likely to be deficient. During the day, Nifty is likely to witness a negative opening amid weak global cues and is likely to continue with its profit booking activity. After a negative opening, an intraday pullback towards 17,600-17,685 can be utilised for creating a short position for a target of 17,350," he says. 

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