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Stock Market Highlights: Sensex and Nifty50 halt 6-day winning run — rupee slips to 79.47 vs dollar

Stock Market Highlights: Sensex and Nifty50 halt 6-day winning run — rupee slips to 79.47 vs dollar

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Stock Market Highlights: Indian equity benchmarks BSE Sensex and NSE Nifty50 halted a six-day winning streak on Thursday dragged by losses in financial and oil & gas shares, though gains in IT stocks kept the downside in check. Broader markets were a mixed bag, with the Nifty Midcap 100 rising 0.6 percent and the Nifty Smallcap 100 declining 0.4 percent. Investors awaited the outcome of a key meeting by the RBI's rate-setting panel due on Friday for domestic cues.

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Aug 4, 2022 4:34 PM

Gas distributors to continue to struggle till there is good news on gas prices: Deven Choksey

Deven Choksey of KRChoksey tells CNBC-TV18 that in his view, unless there is a meaningful decline in international gas prices, gas distribution companies will continue to struggle.

"The results could possibly be more on the pressure side as far as the margin is concerned," he says. 

Aug 4, 2022 4:34 PM

Rupee ends lower at 79.47 vs dollar

On Wednesday, the rupee had settled at 79.16 against the greenback. 

Aug 4, 2022 4:16 PM

Market At Close | Sensex and Nifty50 halt 6-day gaining streak

Here are some highlights: 

--Financial stocks drag headline indices lower — IT and pharma shares lend support

--Positive commentary from Lupin lifts pharma stocks — Nifty Pharma up over two percent

--NTPC and Tata Consumer top Nifty losers, followed by Coal India and Shree Cement

--SBI under pressure ahead of quarterly earnings on Saturday

--Cipla, Nestle, Sun Pharma and Infosys top Nifty gainers

--Lupin positive commentary lifts stock nine percent from day's low despite weak results

--AU Small Finance Bank rises four percent as QIP book over-subscribed

--Astral surges four percent after Morgan Stanley initiates coverage with 'overweight' call

--PI Industries rises four percent following strong earnings

--Market breadth favours the bears — advance-decline ratio at 4:5

Aug 4, 2022 3:46 PM
Aug 4, 2022 3:18 PM
Aug 4, 2022 3:02 PM

Despite the near-term outperformance soon the auto stocks will bounce back: Jitendra Gohil

Jitendra Gohil, Head-India Equity Research, Credit Suisse Wealth Management says that the upcoming festive season looks positive for auto stocks as the demands are going to go up. " Commodity prices have fallen, steel prices have fallen order has swelled and we are seeing a very good launch cycle for some of the companies. So I feel that sooner or later the stocks will bounce back further from here onward despite the near-term outperformance that we have already seen. Any weakness, we think in the auto sector should be used as a buying opportunity from a three to six months perspective," he adds.

Aug 4, 2022 2:43 PM

Buy Sun Pharma, Infosys: Ashish Kyal

Here are two recommendations by Ashish Kyal, Waves Strategy Advisors:

-- Buy Sun Pharma for a target of Rs 970 with a stop loss at Rs 875

-- Buy Infosys for a target of Rs 1,700 with a stop loss at Rs 1,539 

Aug 4, 2022 2:11 PM

Shares of Macrotech Developers are trading at Rs 1040, down by 5.78% on the BSE

Shares of Macrotech Developers declined after Ivanhoe, the real estate arm of the Canadian pension fund CDPQ, sold 1.5 percent stake via block deals.  Read more here. 

Aug 4, 2022 1:51 PM
Aug 4, 2022 1:25 PM

China launches military drills after US's Nancy Pelosi's visit, Taiwan says will react to 'enemy situation'

Markets rebounded on Thursday following nervous across global markets in the previous session following US House Speaker Nancy Pelosi's visit to Taiwan. However, Sugandha Sachdeva, Vice President - Commodity and Currency Research, Religare Broking Ltd, said that the rising friction between the US and China has again roiled the sentiments and raised the case for aggressive rate hikes by the US central bank ahead. (Read updates on China-Taiwan conflict here)

Aug 4, 2022 1:08 PM

Buy Laurus Labs, IndiaMart: Jay Thakkar

Here are two recommendations by Jay Thakkar, VP & Hd-Research, Marwadi Shares and Finance:
-- Buy Laurus Labs for a target of Rs 565 and Rs 580 with a stop loss at Rs 522 
-- Buy IndiaMart for a target of Rs 4,750 and Rs 4,900 with a stop loss at Rs 4,300 

Aug 4, 2022 12:46 PM

Reports of HDFC Bank raising Rs 2.2 lakh crore from Public Deposits & Corp Bonds is factually incorrect

Aug 4, 2022 12:41 PM
Aug 4, 2022 12:33 PM
Aug 4, 2022 12:17 PM