Stock Market Highlights: Sensex ends 208 pts lower and Nifty below 18,650 as IT stocks fall — Infosys, ICICI Bank and TCS top laggards

Thank you, readers! That's all from CNBCTV18.com's live market coverage on December 6, 2022. Stay tuned for other updates on our website: CNBCTV18.com.

You can follow us on Twitter: @CNBCTV18Live @CNBCTV18News

And on Facebook, LinkedIn, Instagram and Telegram

Download our mobile app for Android and iOS platforms

Investors should be cautious, if significant supports break, then this could be a start of a significant downturn: Jai Bala

“Markets are poised at such a point that we have possibly seen a major top from the June lows. Right now we need further evidence from the market that it has already topped. If you look at other equity markets in the world like the DAX or the S&P, even there the growing evidence is that we have seen a complete move from the June lows. So investors should be cautious. If significant supports break, then this could be a start of a significant downturn. So in the near term 18,450 support on the Nifty is pretty important and 18,130 would probably be a complete trend reversal for me,” says Jai Bala of Cashthechaos.com

Uncertain times in terms of which way the interest rates will go: Rahul Singh
"We are seeing the tug of war between good domestic fundamentals in terms of the cyclical recovery in various sectors and not so great global macros continues. And what we are seeing is just a culmination of that right now, I think Indian fundamentals or the economic fundamentals in terms of the banking sector, capex cycle, etc seems to be pulling its weight much more than what the global macros can pull it down with," says Rahul Singh, CIO-Equities, Tata Mutual Fund. "But at the same time, these are uncertain times in terms of which way the interest rates will go. I think market might be taking a call bit too soon that we will get pivot, maybe not, maybe the interest rates will stay higher for longer. So, all those questions I think as we enter into 2023, in the first three to six months, it will become much clearer. So I won't be surprised if we stay in this kind of a market, bit of range bound market with volatility, which is actually not a bad outcome given that the global macros remain still very uncertain."

Sensex and Nifty end in the red for third consecutive day 

-- IT and metal stocks remain a major drag, Tata Steel top Nifty loser

-- Maruti ends 0.8 percent lower after company recall 9,125 vehicles

-- PSU Banks rise on positive brokerage report, Nifty PSU Bank hits 52-week high

-- Bajaj Cons ends 1.5 percent higher as board mulls share buyback

-- TVS Motor ends as top midcap gainer, after recovering nearly four percent from lows

-- Adani Ent continues gaining momentum ends as top Nifty gainer, up 2.4 percent 

-- FMCG stocks recover near sessions end, HUL, Nestle up more than one percent each

-- IRB Infra up 2.3 percent after November gross toll collections rise 6.1 percent

-- M&M Fin, Muthoot Fin end lower after RBI makes changes in securitisation guidelines

-- Bharat Forge down 0.5 percent as class 8 truck orders fall for second consecutive month

-- LTI Mindtree, Persistent Sys, HPCL top midcap losers

-- Jindal Stainless up 10.2 percent after 60 lakh shares change hands via block deals           

-- Market breadth favours declines, advance-decline ratio at 1:2

Rupee ends lower vs dollar

The currency slips 68 paise or nearly a percent from today's open of 81.94

Dish TV appoints Sunil Kumar Gupta, Madan Mohanlal Verma, Gaurav Gupta as Independent Directors

Overweight stance on many consumer discretionary categories: Harish Krishnan

"If you look at consumer discretionary categories, like auto, real estate, media, retailing, a lot of these consumer discretionary are actually significantly below in terms of their profit pool contribution to the overall profits. We think that, therefore, those are the areas where we still have some reasonable exposure. But yes, we were a lot more positive getting into 2022 with a significant move in many of these names. We have pared down some exposure in those names. But we continue to have an overweight stance on many of these sectors, including real estate, including auto, including retailing place, as well as in terms of travel," says Harish Krishnan, Exec VP & Sr Eq Fund Manager Kotak AMC.

Bharti Airtel launches one pack for travel across 184 countries starting Rs 649

Nestle recovers from lows

Overall commodity prices have moderated: Bharat Puri

We do not feel the need for future price increases, says Bharat Puri, MD, Pidilite. “We have consistently maintained that we will price at 75 percent of inflation. Fortunately for us overall commodity costs have moderated. Therefore we do not feel the need for future price increases,” Puri tells CNBC-TV18.

Buy IRB Infra, Tata Power: Rahul Sharma

Here are two recommendations by Rahul Sharma of Equity99 Advisors:
-- Buy IRB Infra for a target of Rs 300 with a stop loss at Rs 275
-- Buy Tata Power for a target of Rs 240 with a stop loss at Rs 224-225

Sula Vineyards India IPO to open on December 12 and close on December 14

Maruti to recall 9,125 vehicles 

Expect Shriram Finance shares to reflect in 2 weeks: Umesh Revankar of Shriram Transport Fin

Viatris is seeing good traction in their oncology products: Kiran Mazumdar Shaw of Biocon