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    Stock Market Highlights: Sensex ends 413 pts lower and Nifty50 gives up 17,900 — rupee slides to 79.70 vs dollar

    Stock Market Highlights: Sensex ends 413 pts lower and Nifty50 gives up 17,900 — rupee slides to 79.70 vs dollar

    Stock Market Highlights: Sensex ends 413 pts lower and Nifty50 gives up 17,900 — rupee slides to 79.70 vs dollar
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    Summary

    Stock Market Highlights: Indian equity benchmarks BSE Sensex and NSE Nifty50 gave up intraday gains in a volatile session on Thursday, as financial, IT, pharma and consumer durable stocks weighed on the market. Globally, investors remained on the back foot after a red-hot US inflation reading dashed nascent hopes the Fed will turn less aggressive with hikes in key rates. Broader indices Nifty Midcap 100 and Nifty Smallcap 100 were a mixed bad, finishing 0.4 percent higher and flat respectively. Tamilnad Mercantile Bank shares made a tepid debut in the secondary market.

    Live Updates

    Mkt Ends Mixed Weighed Down By Metals & IT Stks, In A Volatile Session
    Nifty Bank Slips 640 pts After Hitting Record High In Intra-day Trade
    Tyre Stocks Rise On Positive Brokerage Rpts, MRF Ends 8% Higher
    Auto Stocks Hold On To Gains, Maruti, Eicher Motors Top Gainers On Nifty
    LIC Up 1.4% After Srcs Say Co Considering Starting Own Depository For Ins Demat
    PVR Down More Than 4% On Rpts Of PE Stake Sale In Co
    BPCL Down 1.4 %, After Oil Min Says Divestment Plans Not Currently On The Table 
    Redington India Ends 4% Higher On Rpts Of Partnership W/Google Cloud India 
    Vedanta Ends 3% Higher, After Co Declared Highest Bidder For Odisha Coal Block
    Sensex Slips 413 Points To 59,934 & Nifty 126 Points To 17,877
    Nifty Bk Down 196 Pts To 41,209 While Midcap Index Rises 124 Pts To 32,415 
    Market Breadth Favour Declines, Advance-Decline Ratio 1:1

    Stock Market Highlights: Sensex ends 413 pts lower and Nifty50 gives up 17,900 — rupee slides to 79.70 vs dollar

    Rupee declines to settle at 79.70 vs US dollar

    On Wednesday, it had settled at 79.44 against the greenback. 

    Stock Market Highlights: Sensex ends 413 pts lower and Nifty50 gives up 17,900 — rupee slides to 79.70 vs dollar

    Banking index's record high may be an early sign of fresh peaks in Nifty50 — here's why

    Banking stocks are back in vogue on Dalal Street thanks to record highs in State Bank of India (SBI), ICICI Bank and Bank of Baroda, which have powered the Nifty Bank's run to a lifetime high. The phenomenal run in the banking index — which tracks the performance of 12 major lenders in the country including HDFC Bank, ICICI Bank, Kotak Mahindra Bank and Axis Bank — may be an early sign of fresh al-time highs in headline indices.

    Financial services carry the maximum weight in the Nifty50, followed by IT, which is one of the worst performing spaces on Dalal Street since October 2021 — a month that saw the last of record highs in both Sensex and Nifty following a liquidity-driven rally that lasted for 18-odd months. (Read more)

    GST Council unlikely to meet in September: Sources to CNBC-TV18

    Stock Market Highlights: Sensex ends 413 pts lower and Nifty50 gives up 17,900 — rupee slides to 79.70 vs dollar

    Air India eyes 30 percent local market share in 5 years vs 8.4% in July; Unveils transformation plan, Vihaan.AI 

    Stock Market Highlights: Sensex ends 413 pts lower and Nifty50 gives up 17,900 — rupee slides to 79.70 vs dollar

    Veranda Learning to raise funds worth Rs 300 crore via preferential issue and convertible warrants

    Stock Market Highlights: Sensex ends 413 pts lower and Nifty50 gives up 17,900 — rupee slides to 79.70 vs dollar

    Smallcaps and midcaps should outperform the largecaps: Anil Sarin

    On markets, Anil Sarin, CIO, Centrum PMS, said, "We've had quite a divergence. Now I think we should be consolidating. And I would not be surprised if the market gives up a little bit of the gains. It has been in a compressed period of time."

    Sarin said, "we have observed is that when things are tough for the economy, when there is a lot of pressure, a market participant seek comfort, in large caps, in safe kind of names. On the other hand, when there is optimism, when there is more of a buoyant economy, such as which we are seeing in India right now." Sarin said that people look for new names, for opportunities, that favors smallcap stocks and midcap stocks. According to him smallcaps and midcaps should outperform the largecaps in the current senario.

    SBI, ICICI Bank, Bharti Airtel and Maruti Suzuki hit 52-week highs

    Here are some of the other stocks that hit the milestone: 

    --Eicher Motors

    --M&M Financial

    --CEAT

    --Adani Transmission

    Focus today is on the auto pack: Sacchitanand Uttekar
    Sacchitanand Uttekar of Tradebulls said, "From a trading perspective, I think the focus today is on the auto pack." Uttekar said that most of the auto stocks have been doing well and Nifty Auto index is breaking out from a 10 days consolidation. "So 13,380 is a crucial level that particular level has been surpassed and probably we may see auto getting into action for next for the next coming week. I think apart from Maruti Suzuki which has already displayed on good strong breakout from an inverse head and shoulder, we have a Escorts which is again showing signs of a continuation pattern breakout. We are expecting Escorts to move higher towards Rs 2,040 during the day and a position a target of around Rs 2,090 which is placed near its life high."
    Uttekar suggests buying Escorts with a stop loss at Rs 1,985.

    Buy Supreme Industries, Jamna Auto: Dharmesh Shah
    Here are two recommendations by Dharmesh Shah of ICICI Securities:
    -- Buy Supreme Industries for a target of Rs 2,340 with a stop loss at Rs 1,850 
    -- Buy Jamna Auto for a target of Rs 139 with a stop loss at Rs 104

    Aster DM acquires 2% stake in Medcare Hospital LLC for Rs 51.5 crore

    Stock Market Highlights: Sensex ends 413 pts lower and Nifty50 gives up 17,900 — rupee slides to 79.70 vs dollar

    NTPC declares the entire capacity of 20 MW Auraiya Floating Solar PV Project at Auraiya, UP, as commercially operational w.e.f. September 16

    Stock Market Highlights: Sensex ends 413 pts lower and Nifty50 gives up 17,900 — rupee slides to 79.70 vs dollar

    Large Trade | 3.8 lakh shares of PG Electroplast worth Rs 38 crore change hands

    Stock Market Highlights: Sensex ends 413 pts lower and Nifty50 gives up 17,900 — rupee slides to 79.70 vs dollar

    Buy ABFRL, Cera Sanitaryware: Kush Bohra
    Here are two recommendation by Kush Bohra of www.kushbohra.com:
    -- Buy ABFRL for a target of Rs 345 with a stop loss at Rs 332 
    -- Buy Cera Sanitaryware for a target of Rs 6,100 with a stop loss at Rs 5,700 

    Buy crude oil futures for target of Rs 7,150: Motilal Oswal's Amit Sajeja

    Amit Sajeja, VP-Technical Analyst-Commodities and Currencies at Motilal Oswal Financial Services, suggests going long on the September expiry MCX crude oil futures at Rs 6,700 for a target of Rs 7,150 with a stop loss at Rs 6,500.

    "MCX crude oil futures have formed a reverse head and shoulders pattern on the 240-minute chart, suggesting possible short covering," he tells CNBCTV18.com.

    Sajeja sees potential to test resistance near Rs 7,150 with support around Rs 6,500 and recommends buying on dips.

    Stock Market Highlights: Sensex ends 413 pts lower and Nifty50 gives up 17,900 — rupee slides to 79.70 vs dollar

    Buy Maruti Suzuki, HDFC: Jay Thakkar
    Here are some recommendations by Jay Thakkar of Marwadi Shares & Finance
    -- Buy Maruti Suzuki for a target of Rs 9,500 with a stop loss at Rs 9,150 
    -- Buy HDFC limited for a target of Rs 2,550 with a stop loss at Rs 2,400 

    Future technologies like BEV, Ethanol, Flex Fuel, Hydrogen, Biomethane will need some enablers: SIAM President Kenichi Ayukawa

    Stock Market Highlights: Sensex ends 413 pts lower and Nifty50 gives up 17,900 — rupee slides to 79.70 vs dollar

    AB Capital shares up nearly 5% 

    Shares of Aditya Birla Capital Ltd jumped 4.9 percent on Thursday after the Competition Commission of India (CCI) approved the investment of Rs 665 crore by Abu Dhabi Investment Authority (ADIA) in Aditya Birla Health Insurance in exchange for a minority stake. (Read more)

    Stock Market Highlights: Sensex ends 413 pts lower and Nifty50 gives up 17,900 — rupee slides to 79.70 vs dollar

    Maruti Suzuki hits 52-week high after Bank Of America Securities raises target

    Stock Market Highlights: Sensex ends 413 pts lower and Nifty50 gives up 17,900 — rupee slides to 79.70 vs dollar

    Nifty Bank slips into the red

    The Nifty Bank is down 0.4 percent, in a sharp U-turn after hitting a record high of 41,840 earlier in the day.

    Here's what the banking basket looks like at this hour:

    Stock Change (%)
    INDUSINDBK -2.35
    KOTAKBANK -1.49
    BANKBARODA -0.89
    HDFCBANK -0.88
    AXISBANK -0.88
    SBIN -0.52
    AUBANK -0.26
    PNB -0.25
    FEDERALBNK 0.41
    ICICIBANK 0.86
    BANDHANBNK 1.32
    IDFCFIRSTB 1.47

    Large Trade | 3.4 crore shares of South Indian Bank worth Rs 35.5 crore change hands 

    Stock Market Highlights: Sensex ends 413 pts lower and Nifty50 gives up 17,900 — rupee slides to 79.70 vs dollar

    Vedanta declared as the highest bidder for Odisha's Ghogharpalli & its Dip Extension coal block 

    Stock Market Highlights: Sensex ends 413 pts lower and Nifty50 gives up 17,900 — rupee slides to 79.70 vs dollar

    Tamilnad Mercantile Bank makes a tepid debut on Dalal Street

    Tamilnad Mercantile Bank makes a tepid debut on Dalal Street on Thursday, in contrast to the trend seen in the grey market in the past few days. The Tamilnad Mercantile Bank (TMB) stock begins trading on BSE at Rs 510, as against its IPO price range of Rs 500-525. (Read more)

    Adani Ports, Maruti Suzuki and Kotak Mahindra Bank top blue-chip gainers

    Stock Market Highlights: Sensex ends 413 pts lower and Nifty50 gives up 17,900 — rupee slides to 79.70 vs dollar

    Nifty Bank hits record high

    Stock Market Highlights: Sensex ends 413 pts lower and Nifty50 gives up 17,900 — rupee slides to 79.70 vs dollar

    Market At Open | Sensex rises over 300 pts 

    Stock Market Highlights: Sensex ends 413 pts lower and Nifty50 gives up 17,900 — rupee slides to 79.70 vs dollar

    Rupee inches lower vs US dollar

    Stock Market Highlights: Sensex ends 413 pts lower and Nifty50 gives up 17,900 — rupee slides to 79.70 vs dollar

    Stocks To Watch | PVR, Home First, KEC International and oil & gas stocks in the spotlight

    Wall Street indices stagger to the green as Fed rate hike looms

    The three main US indices ended a directionless session higher on Wednesday as an on-target inflation report largely stanched the flow of Tuesday's sell-off and investors pressed the "pause" button. All three wavered throughout the day, but ultimately ended in positive territory. They all failed to meaningfully recover ground lost in Tuesday's carnage, which wrought their largest percentage plunges in more than two years.

    --Dow Jones: up 0.1 percent

    --S&P 500: up 0.3 percent

    --Nasdaq Composite: up 0.7 percent

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