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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Jul 12, 2022 4:10 PM

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. 

Jul 12, 2022 4:09 PM

Rupee closes at record low of 79.59 vs US dollar 

Jul 12, 2022 4:07 PM

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

Jul 12, 2022 3:45 PM
Jul 12, 2022 3:40 PM

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.

Jul 12, 2022 3:03 PM
Jul 12, 2022 2:34 PM

Rail Vikas Nigam almost 2% off day's high

Jul 12, 2022 2:29 PM

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

 
Jul 12, 2022 2:14 PM
Jul 12, 2022 2:02 PM
Jul 12, 2022 1:46 PM

Everready in red, near day's low

Jul 12, 2022 1:34 PM

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.

Jul 12, 2022 1:30 PM
Jul 12, 2022 1:21 PM
Jul 12, 2022 1:03 PM