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    Stock Market Highlights: Sensex ends 659 pts higher and Nifty50 climbs to 17,799 — rupee jumps to 79.71 vs dollar

    Stock Market Highlights: Sensex ends 659 pts higher and Nifty50 climbs to 17,799 — rupee jumps to 79.71 vs dollar

    Stock Market Highlights: Sensex ends 659 pts higher and Nifty50 climbs to 17,799 — rupee jumps to 79.71 vs dollar
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    Summary

    Stock Market Highlights: Indian equity benchmarks BSE Sensex and NSE Nifty50 jumped around one percent each to their highest closing levels since August 18. Globally, investors overlooked hawkish remarks from Fed officials and the mention of persistent pricing pressure in its Beige Book. Financial, IT and FMCG shares were the biggest contributors to the rise in both headline indices. Broader indices Nifty Midcap 100 and Nifty Smallcap 100 strengthened, finishing the day up 0.2 percent and one percent respectively. 

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    Constructive on equity market from 2-3-year view: Edelweiss AMC's Trideep Bhattacharya

    Trideep Bhattacharya, CIO at Equities At Edelweiss AMC, tells CNBC-TV18 he is constructive on the equity market from a perspective of 2-3 years. He is positive on banking, industrial and capital goods spaces.

    "We are also overweight, direct and indirect plays, on household capex, which is the real estate part. We think that we are in the somehwere in the first 2-3 years of a seven-year real estate cycle. They would they should stand to benefit," he says. 

    Rupee jumps to settle at 79.71 vs US dollar

    On Wednesday, it had settled at 79.90 against the greenback.

    Stock Market Highlights: Sensex ends 659 pts higher and Nifty50 climbs to 17,799 — rupee jumps to 79.71 vs dollar

    Market At Close | Sensex and Nifty50 at 3-week closing highs led by financial stocks

    Here are some highlights: 

    --ICICI, HDFC Bank, Axis Bank, Infosys and SBI top Nifty contributors

    --Shree Cement continues to gain momentum — stock jumps 10 percent in two sessions

    --Oil marketing company stocks surge as crude oil falls — IOC, HPCL and BPCL gain 2-4 percent

    --Metal stocks Hindalco and Tata Steel slide on falling prices

    --CONCOR rises one percent amid volatile trade as investors digest new LLF policy

    --IndiGo declines two percent following stake sale by Gangwal family

    --NCLT asks Zee to take shareholder Meet For Sony Merger; Stock Sees Profit Booking

    --Metropolis, JK Cement, City Union Bank, BoB, Bandhan Bank Top Midcap Gainers

    --Market Breadth Favours Advances, Advance-Decline Ratio At 3:2

    Stock Market Highlights: Sensex ends 659 pts higher and Nifty50 climbs to 17,799 — rupee jumps to 79.71 vs dollar

    Tata Power to set up 100 MW captive solar power plant for Viraj Profile in Nashik

    Stock Market Highlights: Sensex ends 659 pts higher and Nifty50 climbs to 17,799 — rupee jumps to 79.71 vs dollar

    Oil marketing companies gain, BPCL up nearly 4%, IOC, HPCL up nearly 3%

    Stock Market Highlights: Sensex ends 659 pts higher and Nifty50 climbs to 17,799 — rupee jumps to 79.71 vs dollar

    Bank stocks in focus

    Stock Market Highlights: Sensex ends 659 pts higher and Nifty50 climbs to 17,799 — rupee jumps to 79.71 vs dollar

    Lemon Tree Hotels signs licence pact for 64-room hotel in Tamil Nadu

    Stock Market Highlights: Sensex ends 659 pts higher and Nifty50 climbs to 17,799 — rupee jumps to 79.71 vs dollar

    Angel One records 81.9% YoY increase in client base
    The fintech company Angel One Ltd added 0.44 million clients in August 2022 to grow its client base to 11.18 million, an 81.9 percent year-on-year increase. The company also recorded a growth of 117.9 percent year-on-year in its average daily turnover to Rs 12.38 trillion. It recorded 72.53 million orders, a 44.9 percent growth from the year-ago period. The company’s overall equity market share stood at 21.5 percent for the month and average client funding book for August 2022 stood at Rs 13.72 billion.

    Buy Zomato, GNFC: Shrikant Chouhan
    Here are two recommendations by Shrikant Chouhan of Kotak Securities
    -- Buy Zomato for a target of Rs 66-67 with a stop loss at Rs 60
    -- Buy GNFC for a target of Rs 770-780 with a stop loss at Rs 730 

    Buy ICICI Bank, UltraTech Cement: Jay Thakkar
    Here are two recommendations by Jay Thakkar of Marwadi Shares & Financials
    -- Buy ICICI Bank for a target of Rs 910-922 with a stop loss at Rs 887
    -- Buy UltraTech Cement for a target of Rs 7,300 with a stop loss at Rs 6,775 

    Do you know what meme stocks are?

    CNBC-TV18's Reema Tendulkar explains what has fuelled a rally in these stocks and why there's a sudden interest in them again:

    ONGC, Indian Oil and BPCL see mixed moves as crude oil rebounds from 7-month lows

    Indian Oil shares rose but the ONGC and Oil India stocks declined as benchmark crude oil rates rose from their lowest levels since February. (Read more)

    Stock Market Highlights: Sensex ends 659 pts higher and Nifty50 climbs to 17,799 — rupee jumps to 79.71 vs dollar

    Buy ICICI Bank and Sumitomo Chem: Himanshu Gupta 

    Here are two recommendations by Himanshu Gupta of Globe Capital:

    --Buy Sumitomo Chemicals for a target of Rs 530-550 with a stop loss at Rs 504 

    --Buy ICICI Bank for a target of Rs 925-930 with a stop loss at Rs 890 

    Pennar Industries bags orders worth ₹511 crore

    Stock Market Highlights: Sensex ends 659 pts higher and Nifty50 climbs to 17,799 — rupee jumps to 79.71 vs dollar

    Auto sales yet to catch speed as early festivals and good monsoons fail to offer expected cheer: FADA

    Total vehicle sales in August grew 8 percent compared to the same month last financial year, according to data released by the Federation of Automobile Dealers Associations (FADA) on Thursday, September 8. (Read more)

    If CONCOR wants to avail the new licence fee, it will have to enter the bidding process: Railway Minister, Ashwini Vaishnaw

    Stock Market Highlights: Sensex ends 659 pts higher and Nifty50 climbs to 17,799 — rupee jumps to 79.71 vs dollar

    Many investors appreciate India's stance on Russia-Ukraine crisis: UTI AMC's Vetri Subramaniam 

    Stock Market Highlights: Sensex ends 659 pts higher and Nifty50 climbs to 17,799 — rupee jumps to 79.71 vs dollar

    Buy Sumitomo Chemicals, ICICI Bank: Himanshu Gupta

    Here are two recommendations by Himanshu Gupta of Globe Capital:
    -- Buy Sumitomo Chemicals for a target of Rs 530-550 with a stop loss at Rs 504 
    -- Buy ICICI Bank for a target of Rs 925-930 with a stop loss at Rs 890 

    Solutions to handling inflation should be country specific: Nirmala Sitharaman

    Stock Market Highlights: Sensex ends 659 pts higher and Nifty50 climbs to 17,799 — rupee jumps to 79.71 vs dollar

    TVS Motor nears 52-week high

    TVS Motors traded close to its 52-week high price of Rs Rs 1,062.40 on Thursday ahead of the launch of a new bike around noon. (Read more)

    Stock Market Highlights: Sensex ends 659 pts higher and Nifty50 climbs to 17,799 — rupee jumps to 79.71 vs dollar

    Hind Zinc forms fertiliser subsidiary in the name of Hindustan Zinc Fertilisers

    Stock Market Highlights: Sensex ends 659 pts higher and Nifty50 climbs to 17,799 — rupee jumps to 79.71 vs dollar

    Buy Indian Oil and IDFC First Bank: Shilpa Rout

    Here are two recommendations by Shilpa Rout of Prabhudas Lilladher:

    --Buy IOC for target of Rs 76-78 with a stop loss at Rs 71.5

    --Buy IDFC First Bank for a target of Rs 55-58 with a stop loss at Rs 49-50 

    Tata Steel shares fall in the back of large deal

    ONGC shares make it to the green as crude oil rebounds

    Stock Market Highlights: Sensex ends 659 pts higher and Nifty50 climbs to 17,799 — rupee jumps to 79.71 vs dollar

    Banks attractive after 2-3 years of underperformance: Gurmeet Chadha

    Gurmeet Chadha, Managing Partner and CIO at Complete Circle, likes the BFSI space on Dalal Street. "Banks, obviously, were a part of preferred trade in a rising interest rate scenario. Also, the fact that the credits costs were contained, I think we passed the COVID test in terms of bank stress quite well for most leading banks and even for some of the smaller ones," he tells CNBC-TV18.

    "The larger ones are clearly doing better now. I think those will continue to well... The valuations, especially even after this run-up, are at about 2.50 the adjusted book value, which is not really a stretch compared to the premiums they used to command. Insurance is one sector we are looking at... Have discussed HDFC Life multiple times... SBI Life has been standing out... We are looking at Lombard also," he adds. 

    Tata Motors, Asian Paints and Tech Mahindra top blue-chip gainers

    Stock Market Highlights: Sensex ends 659 pts higher and Nifty50 climbs to 17,799 — rupee jumps to 79.71 vs dollar

    Market At Open | Sensex rises almost 350 pts and Nifty50 2 pts shy of 17,750

    ICICI Bank, Infosys, Bharti Airtel, HDFC Bank and Asian Paints are the biggest contributors to the rise in both headline indices. (Read more on the opening bell)

    Stock Market Highlights: Sensex ends 659 pts higher and Nifty50 climbs to 17,799 — rupee jumps to 79.71 vs dollar

    Stocks To Watch | Dr Reddy's, SBI Life, Zee and oil & gas stocks in the spotlight

    Global Cues | Crude oil hits 7-month low — Brent below $89 a barrel

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