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    Stock Market Highlights: Sensex ends choppy session 150 pts lower and Nifty near 15,800 — rupee hits record low

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    Stock Market Highlights: Sensex ends choppy session 150 pts lower and Nifty near 15,800 — rupee hits record low

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    Stock Market Highlights: Indian equity benchmarks BSE Sensex and NSE Nifty50 halted a four-day winning run in a choppy session on Wednesday, as losses in financial and IT shared outweighed gains in oil & gas counters. Broader markets mirrored the losses in both main indices, falling around half a percent each. Dire consumer confidence data from the US dampened investor optimism and fuelled worries over recession. Investors globally awaited a key GDP reading from the US due later in the day for cues.

    Stock Market Highlights: Sensex ends choppy session 150 pts lower and Nifty near 15,800 — rupee hits record low
    • Thank you, readers! That's all from CNBCTV18.com's live market coverage on June 29, 2022. Stay tuned for other updates on our website: CNBCTV18.com.

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    • Positive on large private banks: HSBC Global Asset Management's Neelotpal Sahai

      Neelotpal Sahai, Head-Equities and Fund Manager at HSBC Global Asset Management, tells CNBC-TV18 that he has a positive view on the financial sector, especially large private banks. "The reason for that is more structural in nature. We have seen a structural improvement in the profit profile of these banks; there has been a credit cost normalisation," he says. 

      "The most important point is that this is a period they have also used to invest in digital infrastructure and that is why they have been able to manage their houses well in the face of the competition from the new arrays of banks as well. And that is the region that we prefer," he adds. 

    • Stock Market Highlights: Sensex ends choppy session 150 pts lower and Nifty near 15,800 — rupee hits record low
    • Rupee hits record closing low

      Stock Market Highlights: Sensex ends choppy session 150 pts lower and Nifty near 15,800 — rupee hits record low
    • Market At Close | Sensex and Nifty50 recover much of the day's losses

      Here are some highlights: 

      --Reliance supports the market — lifts Nifty by 40 pts

      --FMCG stocks under pressure on concerns with respect to GST rate hike on some items

      --ONGC and Oil India rise on deregulation for domestically produced oil

      --AU Small Finance Bank shares fall four percent after Credit Suisse initiates coverage with a target of Rs 510

      --HDFC Life, HUL, Apollo Hospitals, Tata Consumer, Bajaj Finserv top Nifty losers

      --ONGC, NTPC, Reliance, Coal India, Sun Pharma top Nifty gainers

      --Max Finance, Escorts, RBL Bank, Escorts, Indiabulls Housing, Gujarat Gas top midcap losers

      --Market breadth favours declines — advance-decline ratio at 2:3

      --Rupee ends at record closing low of 78.97 vs US dollar

      Stock Market Highlights: Sensex ends choppy session 150 pts lower and Nifty near 15,800 — rupee hits record low
    • We are told that new revised rates will come into effect from July 18: Shanti Dhariwal

      Stock Market Highlights: Sensex ends choppy session 150 pts lower and Nifty near 15,800 — rupee hits record low
    • SBI is definitely a hold and buy: Vaishali Parekh

      Vaishali Parekh of Prabhudas Lilladher said, "SBI is definitely a hold and buy also at these levels because once the banking sector picks up, this will see a lot of upside potential and I am looking at least for a short term target also of around Rs 485 to 500 level. So I would definitely recommend a buy."

    • Tata Consumer Products trading near day's low, 2% off high

      Stock Market Highlights: Sensex ends choppy session 150 pts lower and Nifty near 15,800 — rupee hits record low
    • Energy costs are at an all-time high, trying to pass it to consumers: IOL Chemicals & Pharmaceuticals

      “Energy costs are at pretty much an all-time high and that has had an impact on our total input costs. We are trying to pass those along to consumers. The result is mixed. In certain products, we are able to do that successfully but in pure commodity-type products, it takes a little bit longer to pass along that cost increase and we are partially able to pass that along,” Sanjay Chaturvedi, CEO, IOL Chemicals & Pharmaceuticals told CNBC-TV18. 

    • Government to review BEML divestment progress: Sources to CNBC-TV18

      Stock Market Highlights: Sensex ends choppy session 150 pts lower and Nifty near 15,800 — rupee hits record low
    • Buy Indian Hotel, Cummins India: Sameet Chavan

      Here are two recommendations by Sameet Chavan of Angel Broking

      -- Buy Indian Hotel for a target of Rs 235-237 with a stop loss at Rs 226 

      -- Buy Cummins India for a target of Rs 1,060-1,070 with a stop loss at Rs 985 

    • Target to improve return on equity ratio from 20% to 21%: Rituraj Sinha of SIS

      Stock Market Highlights: Sensex ends choppy session 150 pts lower and Nifty near 15,800 — rupee hits record low
    • Reliance at day's high

    • Reliance at day's high

    • Rupee on track to touch 79 against the US dollar

      Stock Market Highlights: Sensex ends choppy session 150 pts lower and Nifty near 15,800 — rupee hits record low
    • Delta Corp registers a sharp spike, at day's high 

    • MCX at Rs 1282.25 at BSE, 2.2% off day's high

    • Bajaj Electricals at Rs 957.9, 1.4% off high
      Bajaj Electricals has appointed Ravindra Singh Negi as the COO of the consumer products business, and Rajesh Naik as the head of the lighting business.

    • Allied Digital Services at Rs 125.25, almost 2% off day's high

    • Buy Sobha, sell HDFC Life: Aditya Agarwala

      Here are two recommendations by Aditya Agarwala of Invest4edu

      -- Buy Sobha for a target of Rs 600 with a stop loss at Rs 525 

      -- Sell HDFC Life for a target of Rs 520 with a stop loss at Rs 554

    • LIC moving back towards red 

    • Tata Motors near day's high

    • Exports will decline 35 percent in FY23: Dheeraj Garg

      Dheeraj Garg, MD, Steel Strips said, "we see a decline of about 30 to 35 percent this year in overall exports. This is the current estimate, it could change depending on how the markets perform going forward." "But that should be made up by higher aluminium wheel sales, higher CV sales and better tractor sales," he added.

    • Adani Ports near day's high

    • Sell IEX, buy India Cements: Mitessh Thakkar

      Here are two recommendations by Mitessh Thakkar of earningwaves.com

      -- Sell IEX for a target of Rs 153 with a stop loss at Rs 166 

      -- Buy India Cements for a target of Rs 169 with a stop loss at Rs 158 

    • Hikal trading at Rs 258.5, 3.4% off day's low

    • Buy ITC, Timken India: Ruchit Jain

      Here are recommendations by Ruchit Jain of 5paisa.com

      -- Buy ITC for a target of Rs 282 with a stop loss at Rs 265 

      -- Buy Timken India for a target of Rs 2, 620 with a stop loss at Rs 2,400 

    • FY23 EBITDA targeted at Rs 450 crore: Dheeraj Garg of Steel Strips

      Stock Market Highlights: Sensex ends choppy session 150 pts lower and Nifty near 15,800 — rupee hits record low
    • High inflows from retail investors: Swarup Mohanty

      Stock Market Highlights: Sensex ends choppy session 150 pts lower and Nifty near 15,800 — rupee hits record low
    Stock Market Highlights
    : Indian equity benchmarks BSE Sensex and NSE Nifty50 halted a four-day winning run in a choppy session on Wednesday, as losses in financial and IT shared outweighed gains in oil & gas counters. Broader markets mirrored the losses in both main indices, falling around half a percent each. Dire consumer confidence data from the US dampened investor optimism and fuelled worries over recession. Investors globally awaited a key GDP reading from the US due later in the day for cues.

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