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    Stock Market Highlights: Sensex ends 427 pts higher and Nifty50 crosses 16,100 led by financial and Titan shares

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    Stock Market Highlights: Sensex ends 427 pts higher and Nifty50 crosses 16,100 led by financial and Titan shares

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    Stock Market Highlights: Indian equity benchmarks BSE Sensex and NSE Nifty50 hit fresh one-month highs on Thursday amid gains across most sectors. Financial, IT and auto stocks were the biggest contributors to the rise in headline indices. Broader markets also strengthened, with the Nifty Midcap 100 and the Nifty Smallcap 100 rising around 1.5 percent each. 

    Stock Market Highlights: Sensex ends 427 pts higher and Nifty50 crosses 16,100 led by financial and Titan shares
    • Thank you, readers! That's all from CNBCTV18.com's live market coverage on July 7, 2022. Stay tuned for other updates on our website: CNBCTV18.com.

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    • Bullish on FMCG sector: Ambareesh Baliga 

      Independent market expert Ambareesh Baliga is bullish on FMCG sector. "About a year ago, FMCG was the first to see cost pressure and it took companies nearly 2-3 quarters to pass on the price hikes but volumes got affected to a certain extent. However, now the input costs will start to come down and good monsoons mean better rural demand, which is going to drive the FMCG stocks from here on as the margins are going to improve," he tells CNBC-TV18. 

      He likes HUL, ITC and Dabur.

    • Stock Market Highlights: Sensex ends 427 pts higher and Nifty50 crosses 16,100 led by financial and Titan shares
    • Stock Market Highlights: Sensex ends 427 pts higher and Nifty50 crosses 16,100 led by financial and Titan shares
    • Sensex and Nifty50 clock fresh one-month closing highs

      Here are some highlights: 

      Sensex Surges 427 Points To 54,178 & Nifty 143 Points To 16,133

      Nifty Bank Gains 596 Points To 34,920 & Midcap Index 368 Points To 27,572

      Financials, Along With Metals & Autos Lead Market Higher

      Reports Of China Mulling $200 Bn Stimulus, Lift Metal Stocks

      Titan Moves 6% Higher After Reporting Strong Qtrly Updates

      Autos Extends Gaining Streak, M&M At A Record High, Tata Motors Up 3%

      HUL Falls Sharply In Last Hour Of Trade To Close 3% Off Highs

      Dr Reddy’s, Cipla, Bharti, RIL, Nestle, Bajaj Fin Fall In A Strong Session

      ICICI Lombard Rises 3% & Star Health 11% On Positive Brokerage Note

      Oil Marketing Cos Remain In Focus On Falling Crude, HPCL Gains Over 4%

      Realty Stocks Rise As Well On Improved Wtrly Performance, Sobha Up 10%

      Market Breadth Firmly In Favour Of Advances, Advance-Decline Ratio At 5:2

      Stock Market Highlights: Sensex ends 427 pts higher and Nifty50 crosses 16,100 led by financial and Titan shares
    • Metal stocks hold on to day's gains

      Stock Market Highlights: Sensex ends 427 pts higher and Nifty50 crosses 16,100 led by financial and Titan shares
    • Gold and silver gains could be short-lived, say analysts 

      Precious metal rates rose on Thursday as weakness in the greenback overseas made them more attractive to holders of other currencies. However, gains on Dalal Street — which aided investors' appetite for risk — kept the upside in gold and silver in check. (More details here)

    • IndiGo reinstates 8% of salaries for pilots effective August 1, say sources 
       
      --IndiGo sector pay to revert to pre-COVID level from August 1

      Stock Market Highlights: Sensex ends 427 pts higher and Nifty50 crosses 16,100 led by financial and Titan shares
    • Product complaints, unit closures, 'act fast, think later' culture led to recent Ola troubles, say former execs

      The closure of Ola Cars and Ola Dash could lead to the exit of 600 employees. Apart from a series of senior-level exits, falling sales and product concerns weigh down the cab aggregator. (Here's what ex-employees have to say)

    • JTEKT India promoter stake comes down by 1% after amalgamation with subsidiary

      The promoter entity stake in JTEKT India came down by 100 bps to 73.98 percent at the end of June, following the amalgamation of subsidiary JTEKT Fuji Kiko Automotive India with itself. 

      Before the amalgamation, the promoter stake had stood at 74.98 percent.

      JTKET India's revenue had come in at Rs 1,611 crore for the year ended March 2022, and JTEKT Fuji Kiko's at Rs 99.4 crore. 

      Rationale for amalgamation:

      --Both companies are under one management

      --JTEKT Fuji Kiko provides input material to JTEKT India

      --Business and operational synergies

      --Better negotiating power

    • Titan sales best after FY20 and can be better but...

      After watch-to-jewellery maker Titan posted a 205 percent year-on-year jump in the first quarter of FY23 given the low base and robust growth in all segments— jewellery, watches and wearables, eyecare, and other businesses — the stock rallied about 8 percent.

      Citi, however, believes that the gold import duty hike to 15 percent from 10.75 percent earlier and volatile gold prices are some key risks for the company.

    • Expect LPG prices to cool off as soon as oil rates decline: Swarnendu Bhushan

      Swarnendu Bhushan, Senior Group VP and Oil & Gas Analyst at Motilal Oswal Financial Services, says rupee depreciation as added to the rise in oil rates, already pushed up by the Russia-Ukraine geopolitical crisis.

      "As a result, LPG prices have also risen in India... We import about 60 percent of our LPG consumption," he says. 

      Stock Market Highlights: Sensex ends 427 pts higher and Nifty50 crosses 16,100 led by financial and Titan shares
    • Buy Eicher Motors and ABB India, says Marwadi Shares & Finance's Jay Thakkar

      --Buy Eicher Motors for a target price of Rs 3,100-3,200 with a stop loss at Rs 2,850 

      --Buy ABB India for a target of Rs 2,700-2,780 with a stop loss at Rs 2,450 

    • Nykaa shares jump 5% after company expands into men's innerwear and athleisure category with GLOOT

      Nykaa shares gain by as much as Rs 68.4 or 4.9 percent to Rs 1,469.9 apiece on BSE. 

      Mitessh Thakkar of earningwaves.com finds Nykaa interesting on the charts. "It has been doing a broad consolidation between Rs 1,500 and Rs 1,320, and showing signs of breaking up. Once it starts to get past the Rs 1,400-1,500 zone, you will see the stock possibly give you a rally till about Rs 1,620-1,650 to begin with and maybe even higher levels," he says. 

      Stock Market Highlights: Sensex ends 427 pts higher and Nifty50 crosses 16,100 led by financial and Titan shares
    • India may see currency, inflation, energy prices challenges for next 6-8 months: QRC Investment Advisors

      According to Ayaz Motiwala of QRC Investment Advisors, Nivalis Partners, India is well placed though the energy import is a big challenge historically for India. And it will take a major effort in terms of renewable energy and the building that is going on, on a 10-20 year basis. 

      Till then, India will face challenges in terms of currency, inflation, and imported inflation on account of crude etc to get over the hump and achieve growth, but the nation seems to be a better place larger economy for growth, Motiwala said.

      "Thus while we are positive, we hope that other market participants, domestic and internationally, follow the same construct and come around to this, this could be a six-nine months phenomenon or could be an 18-month phenomenon, but I guess on a medium-term basis, we are very positive on the markets," he said.

    • Buy Maruti Suzuki, Jubilant FoodWorks, Cummins: Ashish Chaturmohta

      Ashish Chaturmohta, Director and Head-Research at JM Financial Services, shares four recommendations: 

      --Initiate long on Cummins for a short-term target of Rs 1,180-1,200 with a stop loss at Rs 1,080 

      --Initiate long on Jubilant FoodWorks for a short-term target of Rs 610-620 with a stop loss at Rs 545 

      --Initiate long on Maruti Suzuki for a medium-term target of Rs 9,000 with a stop loss at Rs 8,480 

      --Eicher Motors for a medium-term target of Rs 2,850 with a stop loss at Rs 3,100-3,200

    • JSW Steel total production rises 16% to 5.88 million tonnes in April-June    

      The steelmaker's total production declined two percent sequentially, according to a regulatory filing. It says the production crude steel fell sequentially due to advancement of certain scheduled shutdowns. 

      Tata Steel shares rose by as much as Rs 10.6 or 1.2 percent to Rs 869 apiece on BSE. 

      Stock Market Highlights: Sensex ends 427 pts higher and Nifty50 crosses 16,100 led by financial and Titan shares
    • UBS upgrades IEX to 'buy' from 'sell' (Indian Energy Exchange) 

      The brokerage, however, lowers its target price for Indian Energy Exchange shares by 7.5 percent to Rs 210. It had downgraded the stock in December 2021 to 'sell' citing rich valuations (68 times the 12-month forward PE) and potential normalisation of volumes. 

      The IEX stock has corrected 37 percent so far this year and trades at 41 times its FY23E PE (slightly lower than its two-year average) due to soft volumes, competition risk and a delay in the market-based economic despatch execution. The market is overly concerned about risks and that it will gain confidence as volume is sustained even after launch of new exchange.

    • Star Health shares surge after Credit Suisse initiates coverage on insurer

      Star Health shares jump by as much as Rs 78.3 or 16.4 percent to Rs 554.2 apiece on BSE after Credit Suisse initiates coverage on the insurer with an 'outperform' rating and a target price of Rs 600.

      The brokerage's target price implies a 26 percent upside from Wednesday's closing price.

      The risk reward looks favourable after the recent fall in the stock, according to Credit Suisse, which expects the company's premium growth to pick up in the year ending March 2023.

    • Stock Market Highlights: Sensex ends 427 pts higher and Nifty50 crosses 16,100 led by financial and Titan shares
    • Stock Market Highlights: Sensex ends 427 pts higher and Nifty50 crosses 16,100 led by financial and Titan shares
    • Sensex and Nifty50 build on opening gains

      Both headline indices rise as much as 0.9 percent after opening in the green. The 30-scrip Sensex index gains 498.8 points to 54,249.7 at the strongest level of the day so far, and the broader Nifty50 benchmark climbs to as high as 16,139.5, up 149.7 points from its previous close. (Read more)

      Stock Market Highlights: Sensex ends 427 pts higher and Nifty50 crosses 16,100 led by financial and Titan shares
    • Rupee opens higher at 79.10 vs US dollar

      On Wednesday, the rupee had settled at 79.30 against the greenback.

      Stock Market Highlights: Sensex ends 427 pts higher and Nifty50 crosses 16,100 led by financial and Titan shares
    • Stocks To Watch | Titan, Ruchi Soya and Adani Wilmar in focus

    • Sensex and Nifty50 scaled one-month closing highs on Wednesday

      Indian equity benchmarks climbed to their highest closing levels in almost a month on Wednesday, backed by buying across most sectors as a slump in crude oil prices aided the sentiment on Dalal Street. (Read more on the July 6 session)

      Stock Market Highlights: Sensex ends 427 pts higher and Nifty50 crosses 16,100 led by financial and Titan shares
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    Stock Market Highlights
    : Indian equity benchmarks BSE Sensex and NSE Nifty50 hit fresh one-month highs on Thursday amid gains across most sectors. Financial, IT and auto stocks were the biggest contributors to the rise in headline indices. Broader markets also strengthened, with the Nifty Midcap 100 and the Nifty Smallcap 100 rising around 1.5 percent each.

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