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    Stock Market Highlights: Sensex ends 509 pts lower and Nifty50 gives up 16,100 — rupee hits record closing low

    Stock Market Highlights: Sensex ends 509 pts lower and Nifty50 gives up 16,100 — rupee hits record closing low

    Stock Market Highlights: Sensex ends 509 pts lower and Nifty50 gives up 16,100 — rupee hits record closing low
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    Summary

    Stock Market Highlights: Indian equity benchmarks BSE Sensex and NSE Nifty50 fell around one percent on Tuesday amid weakness across global markets as nervousness persisted among investors on steep hikes in interest rates and their impact on economic growth. Losses across most sectors pulled the headline indices lower, with financial, IT and FMCG shares being the biggest drags. The Nifty Midcap 100 and Nifty Smallcap 100 indices fell around half a percent each. HCL Tech shares fell nearly two percent as investors awaited the IT company's financial results due later in the day. 

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    Thank you, readers! That's all from CNBCTV18.com's live market coverage on July 12, 2022. Stay tuned for other updates on our website: CNBCTV18.com.

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    India story not so problematic though inflation on higher side: Edelweiss Broking's Vinay Khattar 

    Vinay Khattar, Executive VP and Head of Research at Edelweiss Broking, tells CNBC-TV18 that in his view, significant pressure is building up globally because of high inflation in the US.

    "As far as India is concerned, our own story is not so problematic, though, our inflation is on the higher side. But a chunk of that is imported inflation driven significantly by fuel prices, which are a large factor of the Russia-Ukraine problem," he says. 

    Rupee closes at record low of 79.59 vs US dollar 

    Stock Market Highlights: Sensex ends 509 pts lower and Nifty50 gives up 16,100 — rupee hits record closing low

    Market At Close | Sensex and Nifty50 near day's lows as global currencies depreciate vs US dollar

    Here are some highlights: 

    --Financial and IT shares biggest drags on market

    --Infosys, ICICI Bank and HDFC Bank top blue-chip losers

    --44 Nifty stocks in the red 

    --Eicher reverses Monday's gain — top Nifty loser

    --Metal stocks fail to hold on to intraday recovery — Hindalco slips three percent

    --HCL Tech hits 52-week low ahead of quarterly results

    --Oil marketing co stocks fall despite cooling off crude oil rates

    --NMDC top midcap loser after cut in iron ore rates

    --CONCOR rises two percent ahead of Cabinet meet on Wednesday

    --Delta Corp off day's low as GoM meet on casinos ends inconclusive

    --Market breadth in favour of the bears — advance-decline ratio at 2:3

    Stock Market Highlights: Sensex ends 509 pts lower and Nifty50 gives up 16,100 — rupee hits record closing low
    Stock Market Highlights: Sensex ends 509 pts lower and Nifty50 gives up 16,100 — rupee hits record closing low

    Expect 22% revenue growth in Maruti Suzuki over next two year: Siddhartha Khemka

    Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services, tells CNBC-TV18 that one can expect higher earnings growth for the carmaker because of an improvement in margins. That should also drive the stock as well as the valuation for Maruti Suzuki, he says.

    Stock Market Highlights: Sensex ends 509 pts lower and Nifty50 gives up 16,100 — rupee hits record closing low

    Rail Vikas Nigam almost 2% off day's high

    NMDC cuts prices of lump ore & fines by ₹500/tonne each

     
    Stock Market Highlights: Sensex ends 509 pts lower and Nifty50 gives up 16,100 — rupee hits record closing low
    Stock Market Highlights: Sensex ends 509 pts lower and Nifty50 gives up 16,100 — rupee hits record closing low

    Everready in red, near day's low

    Reliance Apr-June earnings to be very strong: JM Financial's Dayanand Mittal

    Dayanand Mittal, Oil & Gas and Telecom Research Analyst at JM Financial Institutional Securities, tells CNBC-TV18 that he expects Reliance to report a strong performance in the April-June period. He sees upstream companies to report strong earnings but OMCs to have a challenging quarter. 

    "Strong GRMs is going to drive Reliance's earnings this quarter. We are expecting a GRM of about $22 for Reliance, which will drive almost like 30 percent-plus QoQ growth in its O2C EBITDA, and almost a similar 33-34 percent in the overall Reliance EBITDA. We expect Reliance's EBITDA at about Rs 34,000 crore largely due to the O2C segment, primarily refining," he says. 

    He doesn't think the government will reverse a windfall tax unless crude falls below the $90/bbl level.

    Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

    Stock Market Highlights: Sensex ends 509 pts lower and Nifty50 gives up 16,100 — rupee hits record closing low

    Buy Hindustan Aeronautics, sell BPCL: Sacchitanand Uttekar

    Here are two recommendations by Sacchitanand Uttekar, AVP, Technical-Equity, Tradebulls:

    -- Buy Hindustan Aeronautics for a target of Rs 1,830 with a stop loss at Rs 1,720

    -- Sell BPCL for a target of Rs 300 with a stop loss at Rs 316

    Stock Market Highlights: Sensex ends 509 pts lower and Nifty50 gives up 16,100 — rupee hits record closing low
    Large Trade | Kotak Mahindra Bank shares worth Rs 213 crore change hands 
     
    A total of 12.3 lakh Kotak Mahindra Bank shares — representing 0.06 percent of the private sector lender's equity — change hands at an average price of Rs 1,735 apiece. 
     
    The Kotak Bank stock is at the lowest level of the day so far, down by Rs 14.6 or 0.8 percent at Rs 1,723 apiece. 
    Stock Market Highlights: Sensex ends 509 pts lower and Nifty50 gives up 16,100 — rupee hits record closing low

    SBI, ICICI raise rates offered on FCNR (B) deposits 

    Stock Market Highlights: Sensex ends 509 pts lower and Nifty50 gives up 16,100 — rupee hits record closing low

    Buy CONCOR, Can Fin Homes: Mitessh Thakkar

    Here are two recommendations by Mitessh Thakkar of earningwaves.com:

    -- Buy CONCOR for a target of Rs 715 with a stop loss at Rs 664 

    -- Buy Can Fin Homes for a target of Rs 495 with a stop loss at Rs 470 

    Stock Market Highlights: Sensex ends 509 pts lower and Nifty50 gives up 16,100 — rupee hits record closing low

    CONCOR near day's high 

    Mindtree to report Q1 earning on Wednesday 

    Buy IndiaMART, Gujarat Fluorochemicals: Jay Thakkar 

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

    -- Buy IndiaMART for a target of Rs 4,500 with a stop loss at Rs 3, 700 

    -- Buy Gujarat Fluorochemicals for a target of Rs 3,500 with a stop loss at Rs 2,900 

    Derivatives market share has increased: Prakarsh Gagdani of 5paisa Capital

    Stock Market Highlights: Sensex ends 509 pts lower and Nifty50 gives up 16,100 — rupee hits record closing low
    Stock Market Highlights: Sensex ends 509 pts lower and Nifty50 gives up 16,100 — rupee hits record closing low

    Too early for government to relook at export duty on steel: Rakesh Arora

    Rakesh Arora, Founder of goindiastocks.com, is of the view that one can expect only a negligible impact on domestic steel prices even if the export duty on select steel products is removed, which is highly unlikely.

    "The industry has been making lot of efforts because they were caught with a surprise when the export duty came in. But I think it's a little too early and premature for government to reconsider this. One is because inflation hasn't really come down much. And then, domestic steel prices haven't corrected as much as one would have expected. In fact, there is a zero impact of this export tax on the domestic prices... International prices have fallen by around $160 in the last 2-3 months and Indian prices are down only by $100," he says. 

    Samir Arora says a mild recession to bring correction in commodity rates  

    Samir Arora of Helios Capital says in an interaction with CNBC-TV18 that a mild recession in the US will not be so bad for India. 

    Stock Market Highlights: Sensex ends 509 pts lower and Nifty50 gives up 16,100 — rupee hits record closing low

    HCL Tech shares under pressure ahead of earnings

    HCL Technologies shares decline by as much as Rs 16.3 or 1.7 percent to Rs 927.1 apiece on BSE. The IT major is du7e to report its financial results for the April-June period later in the day. 

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