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Stock Market Highlights: Sensex ends 306 pts lower and Nifty below 16,650 as market halts 6-day winning run — rupee at nearly 2-week high

Stock Market Highlights: Sensex ends 306 pts lower and Nifty below 16,650 as market halts 6-day winning run — rupee at nearly 2-week high

Stock Market Highlights: Sensex ends 306 pts lower and Nifty below 16,650 as market halts 6-day winning run — rupee at nearly 2-week high
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Summary

Stock Market Highlights: Indian equity benchmarks BSE Sensex and NSE Nifty50 fell on Monday, halting a five-day winning streak, dragged by oil & gas, auto and financial shares though. Globally, nervousness persisted among investors ahead of a key Fed rate decision due this week. Broader markets also bore the brunt of overall weakness on the Street, with the Nifty Midcap 100 and Nifty Smallcap 100 indices falling 0.1 percent and 0.6 percent respectively.

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Jul 25, 2022 4:30 PM

Good time to pick stocks one is comfortable with: Dinshaw Irani

Dinshaw Irani, CIO of Helios Capital India, believes it is a good time for investors to pick stocks that they are comfortable with. "We've been deploying our cash actively. I think the bulk of the venom is out in the market. Our belief is that the lows that you saw in June may not be seen again unless something untoward happens in the world itself," he tells CNBC-TV18.

"India is in a very good footing right now. Monsoon has proven to be very good and rural demand is expected to come back into play. All in all, I think it's working out perfectly for India. A mild recession is what is expected in the US or other developed markets. If that happens, obviously, that's very good for emerging markets, because we see a lot of money flow back to EMs," he adds. 

Jul 25, 2022 4:28 PM

Market At Close | Sensex and Nifty50 halt six-day gaining streak

Here are some highlights: 

--Auto stocks see profit booking following recent upmove — Nifty Auto down two percent

--ONGC among top Nifty losers as crude oil rates fall — stock falls two percent

--ICICI Bank flat after earnings

--Axis Bank and Tech Mahindra slip, and Tata Steel rises ahead of earnings

--Metal stocks rise as benchmark rates seem stablising globally — Nifty Metal up over one percent

--Navin Fluorine surges 11 percent on positive commentary and improved earnings

--SRF gains four percent following a positive outlook

--GAIL rises four percent higher on company's plan to consider bonus issue

--Bandhan Bank quarterly performance falls short of Street estimates — stock falls four percent

--Zomato falls 11 percent as 1-year lock-in period for pre-IPO shareholders ends

--Market breadth favours the bears — advance-decline ratio at 2:3

Stock Market Highlights: Sensex ends 306 pts lower and Nifty below 16,650 as market halts 6-day winning run — rupee at nearly 2-week high
Jul 25, 2022 3:50 PM

Rupee hits nearly 2-week closing high of 79.73 vs dollar

Stock Market Highlights: Sensex ends 306 pts lower and Nifty below 16,650 as market halts 6-day winning run — rupee at nearly 2-week high
Jul 25, 2022 3:42 PM

CRISIL April-June profit jumps 36% to Rs 136.9 crore

The rating agency reported revenue of Rs 668.5 crore for the quarter ended June, as against Rs 528.5 crore for the corresponding period a year ago.

Its EBITDA margin declined to 25.3 percent in the April-June period, from 26.4 percent in the year-ago period. 

Stock Market Highlights: Sensex ends 306 pts lower and Nifty below 16,650 as market halts 6-day winning run — rupee at nearly 2-week high
Jul 25, 2022 3:20 PM

IT stocks bouncing back from oversold territory: Jay Thakkar

Jay Thakkar, Vice President and Head of Research at Marwadi Shares and Finance, tells CNBC-TV18 that in his view, IT shares are bouncing back from oversold territory. "Even after a weak performance, Wipro didn't make a 52-week low. In fact, it managed to bounce back that clearly shows that most of the things are quite priced in. TCS has reversed quite well from oversold territory and this bounce is likely to continue till the targets of Rs 3,375. One can hold this placing a stop loss at Rs 2,970," he says. 

Jul 25, 2022 3:01 PM

HDFC Securities partners Equitas Small Finance Bank for demat and trading services    

Stock Market Highlights: Sensex ends 306 pts lower and Nifty below 16,650 as market halts 6-day winning run — rupee at nearly 2-week high
Jul 25, 2022 2:50 PM

Rupee hits 1-week high of 79.71 vs US dollar

Stock Market Highlights: Sensex ends 306 pts lower and Nifty below 16,650 as market halts 6-day winning run — rupee at nearly 2-week high
Jul 25, 2022 2:45 PM

Potential for downside in earnings estimates: Shyamsunder Bhat

Shyamsunder Bhatt, CIO, Exide Life Insurance, has a cautious stance on the market. “We have already seen some correction of 1-2 percent in the Nifty consensus earnings estimates for the next two years. But as we go ahead, after this earnings season is over, possibly we could see a couple of percentage points more,” he tells CNBC-TV18. 

"Therefore, for 12-13 percent earnings growth that we expect over the next two years, we think that the valuations of the index per se, the Nifty 50, at 17.5 times next year... the markets look fairly valued or slightly expensive if one sees the index per se and that is the major reason for the cautious view," he adds. 

Jul 25, 2022 2:27 PM

Edelweiss Securities downgrades Tata Steel

Edelweiss Securities has downgraded Tata Steel to ‘hold’ with a target price of Rs 985.
“We have downgraded the stock after the export duty imposition and we believe that still there is a quarter left when we are about to witness the margin contraction and all. As of now, we are circumspect about the steel space, particularly because China is exporting a significant amount of steel. And it is well within the range of our domestic prices. So domestic prices could be lower hereon on this import parity consideration,” says Amit Dixit of Edelweiss Securities.  

At 1:57 pm, Tata Steel shares are up 2.5 percent at Rs 958.9 apiece on BSE.

Jul 25, 2022 2:04 PM

Canara Bank Q1 net profit climbs 71% YoY


Canara Bank's net profit for Q1FY23 was Rs 2,022 crore as compared to Rs 1,177.5 crore in Q1FY22. Its net interest income (NII), the difference between interest earned and expended, rose over 10 percent to Rs 6,784 crore. The Gross NPA was at 6.98 percent. Loan growth for the bank grew at 15.2 percent (YoY) & 6.2 percent (QoQ).

Stock Market Highlights: Sensex ends 306 pts lower and Nifty below 16,650 as market halts 6-day winning run — rupee at nearly 2-week high
Jul 25, 2022 1:48 PM

Positive on HDFC twins, Asian Paints, Larsen & Toubro: Sudeep Shah


Sudeep Shah of SBI Securities said, "HDFC twins are coming back, last few days we have seen some kind of a positive price action in HDFC Limited, and HDFC Bank so we are positive on both the stocks." He added that Asian Paints looks good ahead of its numbers tomorrow. "Larsen & Toubro also looks good, so lot of these largecaps are now showing us incremental strength and auto after a big up move is consolidating for a day or two or  a couple of days from today. We feel that in the next few days auto also would be moving up in the week to come."

Jul 25, 2022 1:17 PM

HFCL falls 9% on disappointing Apr-Jun earnings

HFCL reported a fall of nearly 13 percent on year in revenues. Operating margin declined by 498 basis points to 10.45 percent. The consolidated net profit slumped nearly 42 percent year-on-year. 

At 1:04pm, the stock was 7.5 percent down at Rs 63.3.

Jul 25, 2022 1:05 PM
Jul 25, 2022 12:43 PM

Asian Paints gains in 0.8%, trading at Rs 3,091.05

Jul 25, 2022 12:33 PM

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