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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Jun 29, 2022 4:39 PM

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. 

Jun 29, 2022 4:26 PM
Jun 29, 2022 4:17 PM

Rupee hits record closing low

Jun 29, 2022 4:09 PM

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

Jun 29, 2022 3:42 PM
Jun 29, 2022 3:28 PM

We are told that new revised rates will come into effect from July 18: Shanti Dhariwal

Jun 29, 2022 3:08 PM

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."

Jun 29, 2022 2:56 PM

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

Jun 29, 2022 2:45 PM

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. 

Jun 29, 2022 2:32 PM

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

Jun 29, 2022 2:18 PM

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 

Jun 29, 2022 2:09 PM

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

Jun 29, 2022 2:02 PM

Reliance at day's high

Jun 29, 2022 1:53 PM

Reliance at day's high

Jun 29, 2022 1:53 PM