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    Market HIGHLIGHTS: Sensex, Nifty settle flat as rupee weakens to a record low

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    Market HIGHLIGHTS: Sensex, Nifty settle flat as rupee weakens to a record low

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    Stock market HIGHLIGHTS: Indian benchmark indices, BSE Sensex and NSE Nifty50, settled Tuesday's volatile session flat as the Street sentiment remains subdued on higher crude oil prices and as the rupee settled at the record low of 78.79 against the US dollar. Among stocks, Asian Paints and Titan were among the top Nifty losers, while M&M, ONGC, and Coal India lent some support to indices. Catch all the highlights from Tuesday's trade with CNBC-TV18's blog here

    Market HIGHLIGHTS: Sensex, Nifty settle flat as rupee weakens to a record low
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    • Indian benchmark indices, BSE Sensex and NSE Nifty50, settled Tuesday's volatile session flat as the Street sentiment remains subdued on higher crude oil prices and as the rupee settled at the record low of 78.79 against the US dollar. Among stocks, Asian Paints and Titan were among the top Nifty losers, while M&M, ONGC, and Coal India lent some support to indices.

      MARKET AT CLOSE: KEY HIGHLIGHTS
      Market Close Flat Amid Volatility & Sharp Fall In Rupee Against US Dollar
      Rupee Closes At A Record Low Of 78.79, Records Biggest 1-day Fall In 2 Mths
      Sensex Rises 16 Points To 53,177 & Nifty 18 Points To 15,850
      Nifty Bank Slips 169 Pts To 33,642 While Midcap Index Gains 78 Pts To 26,791
      IT Stocks Support Market While Financials Drag, Nifty IT Rises Nearly 1%
      Oil & Gas Stocks Like ONGC & Oil India Surge, Tracking Higher Crude Prices
      Metal Stocks Rebound On China Easing COVID Rules, Hindalco Gains 4%
      M&M Continues The Gaining Momentum, Stock Closes At A Record High
      Fall In Titan Continues, Stock Down More Than 11% In June So Far
      Bajaj Auto Gains 3% From Lows On Promoter Not Participating In Buyback
      Fertiliser Stocks Slip As Rupee Depreciates, Chambal Fert Slips Over 6%
      Paint Stocks Under Pressure As Crude Rises, Asian Paints & Berger Down 3% Each
      Bandhan Bk Ends In The Red But Off Lows On Concerns w.r.t Colln Due To Assam Floods
      Strides, Petronet, Hind Copper, JSPL, Nalco, Dr Lal Top Midcap Gainers
      IEX, Astral, Berger Paints, RBL Bank, Can Fin Homes Top Midcap Losers
      Market Breadth Mildly In Favour Of Advances, Advance-Decline Ratio At 1:1

    • ONGC surges 6% as high oil prices trigger bullish bets

      Shares of Oil and Natural Gas Corp surged 6 percent today as the spike in crude oil prices prompted traders to add bullish bets in the derivatives segment of the stock.

    • CLSA sees 12% upside in this footwear stock on hopes of three-fold rise in revenue

      Shares of Campus Activewear may surge 12 percent from the current levels as the footwear brand could see a three-fold rise in revenues and a four-fold jump in operating profits in the next three years, said global brokerage CLSA in a research note. READ MORE

    • ONGC, Oil India shares gain on higher crude oil prices but Indian Oil, IGL and Gujarat Gas hurt

      Shares of oil and gas companies traded mixed on Tuesday following the rally in oil prices. ONGC, Oil India, and GAIL rose while Indian Oil Corporation (IOC), Gujarat Gas and Indraprastha Gas declined. READ MORE

    • Rupee extends losses, currently at 78.81/$

    • Sterling Tools up as arm enters new e-mobility segment

      Shares of Sterling Tools rose over 4 percent to a three-year high of Rs 298 today, in an otherwise weak market, as the company's arm announced its foray into the electric light commercial vehicle segment.

    • Titan Co falls 4% as weak market triggers bearish bets

      Shares of Titan Company fell nearly 4 percent amid an overall weak sentiment in the market, which prompted traders to place bearish bets in the derivatives segment of the stock.

    • Shares of TVS Motor Company rose more than 2 percent after the Chennai-based company said that it is focusing on electric vehicles (EVs), and is coming up with multiple products in the two- and three-wheeler segments.

    • Indian Card up 7% as co to fully acquire UK-based arm

      Shares of Indian Card Clothing Co surged over 7 percent to a one-month high of Rs 292.70 today, as the company's board approved acquisition of the balance 40 percent stake in its UK-based arm Garnett Wire. The transaction will be an all-cash deal worth Rs 22.5 million.

    • Zomato extends Monday's losses on concerns over financials

      Shares of Zomato extended their sharp losses from Monday and fell another 8 percent today to hit a one-month low of Rs 60.60 as concerns that the company's acquisition of Blinkit will strain its financials dampened the sentiment. On Friday, Zomato announced that it would acquire grocery delivery company Blinkit in an all-stock deal. Blinkit is yet to reach the break-even point.

    • Brigade Enterprises up 6% on plan for Chennai project

      Shares of Brigade Enterprises Ltd rose nearly 6 percent today after the company announced it would develop a residential project in Chennai. Brigade Enterprises entered into an agreement for the joint development of a residential project over 2.1 mln sq ft, which will be located in Perumbakkam. The project has the potential to generate Rs 15 billion in revenue over the next five years, the company said.

    • ITC to launch a range of millet-based products; shares trade positive

      CNBCTV18 Exclusive | ITC to launch a range of millet-based products across categories. Set to foray into soup sachets under B natural brand. B natural soups to be liquid sachet offering, to take on HUL’s Knorr, say sources.

      ITC share price traded positive, quoting at Rs 270.55, up 0.22 percent on NSE at 1.03 pm.

    • Dipan Mehta, Director, Elixir Equities on M&M

      "The upward journey on Mahindra and Mahindra (M&M) started when there was change of guard at the top and the new CEO’s first important step was to focus on capital allocation and getting a higher return on investment, a lot of the subsidy issues were resolved and they always had a very good backlog of new models, which have now been launched and very well received. And overall I think we are seeing very good improvement in the volumes and some of the semiconductor related issues, supply chain issues have now more or less been resolved and with lower steel prices, there is some amount of flexibility on operating profit margin management as well. So keeping all of that in mind, I think, as well as the valuation is concerned, M&M should do even better from these levels or so. This is one company which in next few quarters will surprise on the upside as far as earnings are concerned. And there's certainly scope for the P/E multiples also to be expanded given that it trades at a discount to Maruti and Tata Motors," Mehta told CNBC-TV18.

    • Paint cos down as high crude prices fan margin concerns

      Shares of several paint manufacturers slipped into the red today, as the recent spike in crude oil prices further aggravated concerns of a hit to the profitability of these companies. Global crude oil prices rose due to the possibility of sanctions by the Group of Seven nations on Russian oil. Worries over continued tighter supply after the United Arab Emirates said it was producing near capacity, also pushed up prices. Shares of Asian Paints snapped a three-day gaining streak and fell over 3 percent, one of the major laggards on the Nifty 50 today. Some bearish bets were seen in the June futures contract of the stock, going by the 4 percent rise in open interest. Among other stocks in the sector that fell were Akzo Nobel India, Kansai Nerolac Paints and Berger Paints, down 0.7-3 percent.

    • Rupee hits record low 

    • Buy Granules India, sell ICICI Pru: Mitessh Thakkar
      Here are two recommendations by Mitessh Thakkar of earningwaves.com
      -- Buy Granules India for a target of Rs 295 with a stop loss at Rs 273 
      -- Sell ICICI Pru for a target of Rs 460 with a stop loss at Rs 489 

    • Have decided to hold inventories for a longer period of time: Yasir Rawjee

      Yasir Rawjee, MD & CEO, Glenmark Life Sciences said that with slowdown in China because of Shanghai port, among other reasons, has resulted in a slowdown, but the situation is now improving. "We as a company have decided to just hold inventories for a slightly longer period of time and that way we mitigate any disruptions on the supply chain side,” he said.

    • Adani Power at day's high 

      Market HIGHLIGHTS: Sensex, Nifty settle flat as rupee weakens to a record low
    • Buy Maruti Suzuki, TVS Motors, BPCL: Jay Thakkar

      Here are some recommendations by Jay Thakkar of Marwadi Shares and Finance:

      -- Buy Maruti Suzuki for a target of Rs 9,100 with a stop loss at Rs 8,150 

      -- Buy TVS Motors for target of Rs 910 with a stop loss at Rs 765 

      -- Buy BPCL for a target of Rs 327 with a stop loss at Rs 308 

    • Pallonji Mistry, head of Shapoorji Pallonji Group, passed away last night, aged 93

      Market HIGHLIGHTS: Sensex, Nifty settle flat as rupee weakens to a record low
    • PI Industries at day's high 

      Market HIGHLIGHTS: Sensex, Nifty settle flat as rupee weakens to a record low
    • M&M trades at record high day after new Scorpio launch 

      Dalal Street is positive on Mahindra and Mahindra as the new Scorpio launched on Monday may boost volumes and the carmaker's SUV portfolio. 

      Brokerages are also positive on M&M as Noruma and CLSA have given a buy rating to the stock while Morgan Stanley has an 'overweight' stance on the stock. 

      Here's how the stock is faring 

      Market HIGHLIGHTS: Sensex, Nifty settle flat as rupee weakens to a record low
    • Bajaj Auto share buyback fails to cheer investors, stock down 2%

      Bajaj Auto slipped nearly 2 percent on Tuesday a day after the two-wheeler major announced share buyback worth Rs 2,500. The company intends to buy back 5.43 million shares, aggregating up to 1.88 percent of its paid-up share capital via the open market at Rs 4,600 per share.

    • Titan, Asian Paints, Bajaj twins, HDFC, PowerGrid, ICICI Bank, Wipro, Apollo Hospitals, Bajaj Auto and Adani Ports led losses on the two benchmarks.

      Market HIGHLIGHTS: Sensex, Nifty settle flat as rupee weakens to a record low
    • Opening Bell: Indian indices opened lower on June 28 with Nifty below 15,800. At 09:16 am, the S&P BSE Sensex was down 195.03 points or 0.37 percent at 52,966.25, and the broader Nifty was down 52.40 points or 0.33 percent at 15779.65.

    • FII and DII data

      Foreign institutional investors (FIIs) have net sold Rs 1,278.42 crore worth of shares, whereas domestic institutional investors (DIIs) remained net buyers, to the tune of Rs 1,184.47 crore worth of shares on June 27, as per provisional data available on the NSE.

    • Oil continued to rise with investors still weighing worries over an economic slowdown against concern over lost Russian supply amid sanctions related to the conflict in Ukraine.

    • Brokerages bullish on Mahindra and Mahindra, here's why 

      Nomura maintains a 'buy' on the shares of M&M with a target price of Rs 1,308, while, UBS maintains a 'neutral' rating for Bajaj Auto shares with a target price of Rs 3,800. Check top brokerage calls for the days

    Stock market HIGHLIGHTS:
    Indian benchmark indices, BSE Sensex and NSE Nifty50, settled Tuesday's volatile session flat as the Street sentiment remains subdued on higher crude oil prices and as the rupee settled at the record low of 78.79 against the US dollar. Among stocks, Asian Paints and Titan were among the top Nifty losers, while M&M, ONGC, and Coal India lent some support to indices.

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