Market Highlights: Sensex ends 468 pts higher and Nifty 50 above 18,400; Adani Enterprises, Reliance, HDFC top gainers

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India to undergo a shallow recession: Gopal Agrawal

"I would really say that our earning impact will be quite less because this time, this balance sheet of individuals and corporation both in in US and Europe is far far better than 2008 or 2014. So differently this time, I really feel a chance of a very shallow recession, because of the very strong balance sheet actually," says Gopal Agrawal, Senior Fund Manager at HDFC AMC. "So there will be certainly slowdown which we are penciling in that is why the growth GDP expectation from 6.8 percent is likely to be between 6.1 to 6.2 percent next fiscal in India. So, so definitely return expectations should be moderated after a great stellar a rally in the market. But I would still argue that equities are well positioned if we use a staggered approach."

Market at Close | Nifty and Sensex end in green halting a two-day losing streak

-- Reliance, HDFC, ITC lift Nifty while IT majors (TCS & Infosys) drag

-- Sensex rises 468 points to 61,806 and Nifty 151 points to 18,420

-- Nifty Bank gains 194 points to 43,414 and midcap index 177 points to 32,187

-- Autos are amongst top Nifty gainers with the leading index rising nearly two percent

-- Adani group stocks surge in last hour, Adani Ports up four percent, Adani Enterprises up over two percent

-- Bharti Airtel and Reliance rise on improved subscription data for October

-- Accenture’s weak commentary keeps it pack under pressure, Nifty IT down 0.5 percent

-- Fertiliser stocks fail to hold opening gains, Chambal Fert slips four percent from opening highs

-- BHEL, Indigo, IDFC, GMR Airports, Indiamart, Can Fin are top midcap gainers

-- Market breadth favours advances, advance-decline ratio at 3:2

Rupee Check | Rupee ends 16 paise higher from its previous close vs dollar

Macro stability in India is strong: Gopal Agrawal

"At this juncture, I really feel macro stability in India is quite, quite strong and banking and financial sector looks very, very interesting. There are really a not much issue except the valuation in the near term has gone up, and we are seeing incrementally the growth slowdown into the Western world and even China is going through yo-yo in terms of opening or shutting down," says Gopal Agrawal, Senior Fund Manager at HDFC AMC. "So, definitely external pressures are there while the domestic news is quite positive. So, I would say there will be tug of war till the next earnings season. So, the market would like to you know, trade within a band until unless the next quarterly result season which will really give the direction to the market."

Stock Market News | HDFC Bank targets issuing one million credit cards a month

India’s largest private bank wants to double the current pace of half a million new credit card issuances every month. (Read more)

Stock Market News | Not aware of any information with respect to stake buy in UTI AMC: Tata Investment

Buzzing Stock | Shares of GMR Airports jump 3.8%

The company announced that it has received Rs 1,390 crore as total consideration from a stake sale in the Mactan Cebu airport. (Read more)

Glenmark Pharma gets US drug regulator approval for high blood pressure drug

The drug will be distributed by Glenmark Pharmaceuticals Inc, USA, in the American market. (Read more)

IndiGo announces 21 additional flights in winter schedule for 2022-23

Stock Market Update: Minda Corp says some signs of slowdown in two-wheeler demand

Buzzing Stock | PB Fintech gains 5 percent

- Biggest single-day gain in a month

- Up for the second day in a row

- Up close to 8 percent in the last two trading sessions

- Has gained in four out of the last five trading sessions

Stock Market Update: Vodafone Idea Loses Subscribers...Again

Buzzing Stocks | Shares of KEC International rise 1.9%

Infrastructure engineering, procurement, and construction major KEC International on Monday said it has bagged new orders worth Rs 1,313 crore across its various businesses. (Read more)

Stock Market News | QCOs are aimed in areas where we have enough domestic capacity & unnecessary imports: DPIIT’s Additional Secretary Anil Agrawal