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    Stock Market Highlights: Sensex ends 337 pts lower and Nifty slides below 17,650 — rupee sinks to record low of 80.86 vs dollar

    Stock Market Highlights: Sensex ends 337 pts lower and Nifty slides below 17,650 — rupee sinks to record low of 80.86 vs dollar

    Stock Market Highlights: Sensex ends 337 pts lower and Nifty slides below 17,650 — rupee sinks to record low of 80.86 vs dollar
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    Summary

    Stock Market Highlights: Indian equity benchmarks BSE Sensex and NSE Nifty50 fell on Thursday tracking weakness across global markets, as investors digested another supersized rate hike by the Fed and its commitment to keep up increases into 2023 to fight red-hot inflation. Losses in financial and oil & gas pulled the headline indices lower, though gains in FMCG stocks lent some support. Fed Chair Jerome Powell vowed that he and his fellow policymakers would "keep at" their battle to beat down inflation.

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    Financial stocks pull headline indices lower

    On the other hand, FMCG and auto shares prevent headline indices from deeper cuts. 

    Stock Market Highlights: Sensex ends 337 pts lower and Nifty slides below 17,650 — rupee sinks to record low of 80.86 vs dollar


    Market Closes Largely Lower Amid Volatility Post Hawkish Fed Commentary

    Financials Underperform With Nifty Bank Falling Over 1%; HDFC Bk, ICICI Top Losers

    Midcap Index Rises 418 Points From Lows To Close 107 Points Higher

    Midcap Outperformance Keeps Mkt Breath Neutral, Adv-Decline Ratio 1:1

    Sensex Slips 337 Points to 59,120 & Nifty 89 Points To 17,630

    Nifty Bank Slips 573 Points To 40,631 While Midcap Index Rises 107 Points To 31,826

    FMCG Names Continue The Gaining Momentum, ITC, Britannia & HUL Up 1-3%

    Titan, Asian Paints, Eicher, Maruti Are Top Nifty Gainers

    Tata Chem Surges 55 To Close Near 52-week High Post Positive Commentary

    Page Ind Rises To Record High With Stock Gaining 10% In Last 4 Sessions

    Metropolis, Granules, Guj Gas, Marico, Dr Lal, Dabur, Indian Hotels Top Midcap Gainers

    India Cements Take A Sharp Knock In Last Hour, Stock Closes With A Cut Of 5%

    City Union Bank, Godrej Cons, BoB, Muthoot Fin, Godrej prop Top Midcap Losers

    Stock Market Highlights: Sensex ends 337 pts lower and Nifty slides below 17,650 — rupee sinks to record low of 80.86 vs dollar

    Rupee at record closing low of 80.86 vs dollar

    On Wednesday, the rupee had settled at 79.98 against the greenback.

    Stock Market Highlights: Sensex ends 337 pts lower and Nifty slides below 17,650 — rupee sinks to record low of 80.86 vs dollar

    Like TCS and Persistent from IT space: Kivah Advisors' Mithun Aswath 

    Mithun Aswath, Managing Partner at Kivah Advisors, tells CNBC-TV18 that largecap IT companies not going to give a CAGR of 20 percent but 12-15 percent instead but make good opportunities to invest.

    "If you look at this stocks under our coverage, on the largecap side, we are playing companies like TCS. On the midcap side, we are monitoring stocks like Persistent Systems," he says. 

    US futures suggest a strong start ahead on Wall Street

    Stock Market Highlights: Sensex ends 337 pts lower and Nifty slides below 17,650 — rupee sinks to record low of 80.86 vs dollar

    Buy Cochin Shipyard, Marico: Jay Thakkar

    Here are the recommendations by Jay Thakkar of Marwadi Shares & Finance
    -- Buy Cochin Shipyard for a target of Rs 495 with a stop loss at Rs 403 
    -- Buy Marico for a target of Rs 580 with a stop loss at Rs 540 

    Titan at day's high

    Stock Market Highlights: Sensex ends 337 pts lower and Nifty slides below 17,650 — rupee sinks to record low of 80.86 vs dollar

    We are very interested in the defence space: Jyotivardhan Jaipuria

    Jyotivardhan Jaipuria, Founder & MD, Valentis Advisors, said, “We are very interested in the defence space. We are looking at it, we are buying it. Obviously, in terms of share price, there will be some challenges along the way because a lot of these orders are lumpy and we have seen a lot of share price movement already." According to Jaipuria, the sector will make a lot of money over the next 3-5 years. "It may not be in a straight line, and maybe some of these stocks need to consolidate short-term.”

    Apollo near day's high 

    Stock Market Highlights: Sensex ends 337 pts lower and Nifty slides below 17,650 — rupee sinks to record low of 80.86 vs dollar

    Sell BHEL, Hindalco: Himanshu Gupta

    Here are two recommendations by Himanshu Gupta of Globe Capital
    -- Sell BHEL for a target of Rs 55 with a stop loss at Rs 60 
    -- Sell Hindalco for a target of Rs 395-390 with a stop loss at Rs 411 

    US Fed commentary spooks global markets

    Stock Market Highlights: Sensex ends 337 pts lower and Nifty slides below 17,650 — rupee sinks to record low of 80.86 vs dollar

    Buy Marico and L&T Tech: Sacchitanand Uttekar

    Here are two recommendations from Sacchitanand Uttekar of Tradebulls: 

    --Buy Marico for a target of Rs 555-570 with a stop loss at Rs 536 

    --Buy L&T Technology Services for a target of Rs 3,580 with a stop loss at Rs 3,420 

    Buy Cummins, Axis Bank and Bajaj Finance: Ashish Chaturmohta

    Ashish Chaturmohta, Director and Head-Research at JM Financial Services, shares four trading calls: 

    --Buy Cummins for a short-term target of Rs 1,350 with a stop loss at Rs 1,210: The stock is poised for Rs 1,450-1,500 kind of levels in 2-3 months, he says.

    --Buy Axis Bank for a short-term target of Rs 850-860 with a stop loss at Rs 785

    --Buy Bajaj Finance for a short-term target of Rs 8,000 with a stop loss at Rs 7,540 

    --Sell Godrej Properties for a short-term target of Rs 1,220 with a stop loss at Rs 1,305 

    Fortis-Daiichi Case | Supreme Court orders continuation of stay on IHH open offer    

    Stock Market Highlights: Sensex ends 337 pts lower and Nifty slides below 17,650 — rupee sinks to record low of 80.86 vs dollar

    Fortis tumbles 15% as Supreme Court orders continuation of stay on IHH open offer

    Stock Market Highlights: Sensex ends 337 pts lower and Nifty slides below 17,650 — rupee sinks to record low of 80.86 vs dollar

    IndusInd Bank raises lending rate by 5-10 bps 

    Stock Market Highlights: Sensex ends 337 pts lower and Nifty slides below 17,650 — rupee sinks to record low of 80.86 vs dollar

    RBL Bank hikes lending rates by 20 bps across tenures 

    Stock Market Highlights: Sensex ends 337 pts lower and Nifty slides below 17,650 — rupee sinks to record low of 80.86 vs dollar

    Rupee hits record low of 80.61 against US dollar

    A fresh 20-year high in the dollar index and weakness on Dalal Street put puressure on the rupee. (Read more)

    Stock Market Highlights: Sensex ends 337 pts lower and Nifty slides below 17,650 — rupee sinks to record low of 80.86 vs dollar

    Infosys shares turn flat after hitting 52-week low

    The Infy stock ekes out a minor gain after sinking to a 52-week low of Rs 1,360.1 apiece earlier in the day. 

    Stock Market Highlights: Sensex ends 337 pts lower and Nifty slides below 17,650 — rupee sinks to record low of 80.86 vs dollar

    Expect IT to underperform further: Sunil Koul of Goldman Sachs

    Stock Market Highlights: Sensex ends 337 pts lower and Nifty slides below 17,650 — rupee sinks to record low of 80.86 vs dollar
    Stock Market Highlights: Sensex ends 337 pts lower and Nifty slides below 17,650 — rupee sinks to record low of 80.86 vs dollar

    Asian markets in the red 

    Equities in other Asian markets begin the day deep in the red, tracking overnight losses on Wall Street after the US central bank announcements. MSCI's broadest index of Asia Pacific shares outside Japan is down 1.4 percent at the this hour.
     
    --Japan's Nikkei 225; down one percent

    --China's Shanghai Composite: down 0.3 percent 

    --Hong Kong's Hang Seng: down 1.9 percent

    Wall Street indices slump as investors absorb hawkish Fed rate message

    The three main US indices see-sawed before slumping in the final 30 minutes of trading to end Wednesday lower, as investors digested another supersized Federal Reserve hike and its commitment to keep up increases into 2023 to fight inflation.

    --Dow Jones: down 1.7 percent

    --S&P 500: down 1.7 percent

    --Nasdaq Composite: down 1.8 percent

    Fed delivers another big rate hike; Jerome Powell vows to 'keep at it'

    Federal Reserve Chair Jerome Powell vowed on Wednesday that he and his fellow policymakers would "keep at" their battle to beat down inflation, as the US central bank hiked interest rates by three-quarters of a percentage point for a third straight time and signaled that borrowing costs would keep rising this year. The target interest range in the US stands at 3-3.25 percent. 

    Economists expect another large hike likely by the end of the year.

    Sensex and Nifty50 halted a 2-day winning run on Wednesday ahead of Fed policy announcements

    Indian equity benchmarks fell on Wednesday, following two days of gains, amid nervousness across global markets as investors awaited the outcome of two-day FOMC deliberations.

    Later in the day, the Fed announced a widely-expected hike of 75 basis points in the key interest rates and Chair Jerome Powell vowed to "keep at" the battle to beat down inflation, saying there is no painless way to bring down the pace of rising consumer prices. (Read more on the September 21 session)

    Stock Market Highlights: Sensex ends 337 pts lower and Nifty slides below 17,650 — rupee sinks to record low of 80.86 vs dollar

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