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Stock Market Highlights: Sensex ends 861 pts lower and Nifty gives up 17,350 — rupee off record low, ends at 79.96 vs dollar

Stock Market Highlights: Sensex ends 861 pts lower and Nifty gives up 17,350 — rupee off record low, ends at 79.96 vs dollar

Stock Market Highlights: Sensex ends 861 pts lower and Nifty gives up 17,350 — rupee off record low, ends at 79.96 vs dollar
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Summary

Stock Market Highlights: Indian equity benchmarks BSE Sensex and NSE Nifty50 suffered sharp losses on Monday amid a global sell-off, after Fed Chair Jerome Powell sounded more hawkish than many had expected at the annual Jackson Hole symposium. Losses across most sectors pulled the headline indices lower, with financial, IT, oil & gas and metal shares being the biggest drags. Reliance Industries shares failed to hold on to the green at the close, even as the stock bucked the overall negative trend for much of the session, as the oil-to-telecom conglomerate conducted its 45th annual general meeting (AGM).

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Rupee ends lower at 79.96 vs dollar 

On Friday, it had settled at 79.87 against the greenback.

Stock Market Highlights: Sensex ends 861 pts lower and Nifty gives up 17,350 — rupee off record low, ends at 79.96 vs dollar

Market At Close | Sensex and Nifty50 in the red but off day's lows

Here are some highlights: 

--IT and metal stocks pull headline indices lower

--FMCG stocks lend some support

--IT stocks fall on US recession concerns — Nifty IT falls three percent

--Except Nifty50 FMCG, all of NSE's sectoral indices in the red

—Fear index India VIX rises eight percent

--IRCTC falls as company withdraws data monetisation tender — stock down four percent

--City Union Bank fails to recover despite management clarification on RBI report — stock down four percent

--Info Edge, Mindtree, L&T Info, Coforge, Bandhan, Mphasis, Concor top midcap losers

--Escorts Kubota, Colgate, India Cements, IDFC, BHEL gain 

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

Stock Market Highlights: Sensex ends 861 pts lower and Nifty gives up 17,350 — rupee off record low, ends at 79.96 vs dollar

P&G Health reports 21.5% jump in Apr-June net profit to Rs 41.2 crore

The company's revenue came in at Rs 296 crore for the three month period, up 3.7 percent compared with the corresponding period a year ago, according to a regulatory filing.

The company's EBITDA margin improved to 20 percent, from 16.9 percent in the year-ago period.

Stock Market Highlights: Sensex ends 861 pts lower and Nifty gives up 17,350 — rupee off record low, ends at 79.96 vs dollar

Reliance AGM | Top announcements by Mukesh Ambani

"Reliance became India's first corporate to cross $100 billion in annual revenue. Its consolidated revenues grew 47 percent to Rs 7.93 lakh crore and the annual consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) crossed a crucial milestone of Rs 1.25 lakh crore," Chairman and Managing Director Mukesh Ambani says at the conglomerate’s 45th annual general meeting (AGM). (Read more)

Catch Reliance Industries AGM LIVE updates here

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Reliance to launch FMCG business

Catch Reliance Industries AGM LIVE updates here

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Stock Market Highlights: Sensex ends 861 pts lower and Nifty gives up 17,350 — rupee off record low, ends at 79.96 vs dollar

Reliance Industries shares jump as conglomerate kicks off its 45th AGM

The RIL stock rose by as much as Rs 34.6 or 1.3 percent to Rs 2,653.3 apiece on BSE. 

Catch Reliance Industries AGM LIVE updates here

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Reliance AGM | Chairman Mukesh Ambani begins his speech at conglomerate's 45th AGM

Catch Reliance Industries AGM LIVE updates here

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Stock Market Highlights: Sensex ends 861 pts lower and Nifty gives up 17,350 — rupee off record low, ends at 79.96 vs dollar

Won't be surprised if global markets give up entire rally from mid-June: Citi Private Bank's Ken Peng

Ken Peng, Asia Pacific Investment Strategist at Citi Private Bank, tells CNBC-TV18 that he wouldn't be surprised of global markets give up their entire rally from mid-June. "The rally is predicated on something that was impossible, a dovish Fed and a strong economy. So continued profit growth plus a dovish Fed. That's kind of too optimistic," he says. 

"We have to deal with the fact that the Fed may remain hawkish until the economy fails or recession comes. I think the prospect for equities is probably poor," he adds. 

ITC, Maruti Suzuki, Nestle and Asian Paints help headline indices pare day's losses

Stock Market Highlights: Sensex ends 861 pts lower and Nifty gives up 17,350 — rupee off record low, ends at 79.96 vs dollar

Headline indices recover some of day's losses

Stock Market Highlights: Sensex ends 861 pts lower and Nifty gives up 17,350 — rupee off record low, ends at 79.96 vs dollar

Buy HAL, sell Kotak Mahindra Bank: Gaurav Ratnaparkhi

Gaurav Ratnaparkhi of Sharekhan shares two trading calls: 

Buy Hindustan Aeronautics for targets of Rs 2,400 and Rs 2,500 with a stop loss at Rs 2,200 

Sell Kotak Mahindra Bank for targets of Rs 1,800 and Rs 1,750 with a stop loss at Rs 1,910 

RIL AGM begins in an hour | Here's what to expect

Reliance Industries' green energy business is expected to emerge a key growth engine for the conglomerate in the next 5-7 years, its Chairman and Managing Director Mukesh Ambani told shareholders in the conglomerate's annual report for 2022.

RIL had last year announced a Rs 75,000 crore investment for a period of three years as part of its new energy push plans. The company has entered into a series of pacts to tap into the green energy space and aims to be net carbon zero by 2035.

Catch Reliance Industries AGM LIVE updates here

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Stock Market Highlights: Sensex ends 861 pts lower and Nifty gives up 17,350 — rupee off record low, ends at 79.96 vs dollar

It's going to be a stock-picker's market: Prakash Diwan

Market expert Prakash Diwan is of the view that it is a bottom-up market now. Bottom-up investing is a a style of investing in which individual stocks are in focus, de-emphasising the significance of macroeconomic and market cycles.

"I don't think there's anything there trending in terms of the macro moves that you could benefit out of and that's exactly where the India focus will become much more sharper, and it will probably be driven by domestic flows and retail participation... Whether that will happen I don't know... I don't think so it would happen in such a hurry... Stock pickers always have more patience than traders," he tells CNBC-TV18. 
 
"My sense is that today, you'll probably see a little bit of a sell-off  driven by a lot of algos and a lot of levels that people watch out for... And once that happens and the dust settles, it will be probably when you will probably see stock-specific action, which may not translate into indices again," he adds. 

Buy Colgate and Petronet LNG: Manas Jaiswal

Here are two trading calls from Manas Jaiswal of manasjaiswal.com: 

--Buy Colgate for a target Rs 1,680-1,685 with a stop loss at Rs 1,604 

--Buy Petronet LNG for a target Rs 228 with a stop loss at Rs 219 

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