Stock Market Highlights: Financial and oil & gas shares give Sensex a 462-point lift — Nifty50 one point shy of 15,700

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Overweight on FMCG space: Edelweiss Securities' Abneesh Roy

Abneesh Roy, Executive Director-Institutional Equities at Edelweiss Securities, tells CNBC-TV18 he likes stocks such as Hindustan Unilever, Britannia, ITC and Asian Paints from the FMCG basket.

Almost all companies in the FMCG space will benenfit in the second half of the financial year, he says. 

Rupee ends lower at 78.35 vs US dollar

On Thursday, it had settled at 78.30 against the greenback.

Three heavyweights contribute more thn 250 points to the gain in Sensex

Market At Close | Sensex and Nifty50 extend gains to second day amid positive global cues

Here are some highlights: 

--Financial and Reliance stocks biggest contributors to gain in Nifty

--IT stocks fall despite a strong quarterly performance and guidance upgrade by Accenture

--OMC stocks fall tracking crude oil rates

--Auto scrips rise for second straight day amid reports of strong demand

--M&M hits a record high 

--Hero MotoCorp, IndusInd, Bajaj Finance, Hindustan Unilever and ICICI Bank top Nifty gainers

--Tech Mahindra, Infosys, Apollo Hospitals top Nifty losers

--Strides Pharma surges 10 percent on positive developments with respect on COVID vaccine

--IDFC, Granules, Crompton Consumer, Info Edge and Manappuram top midcap gainers

--Persistent, Mindtree, HPCL, L&T Info and Mphasis top midcap losers

--Market breadth favours the bulls — advance-decline ratio at 4:1

USD-INR pair lingering in bullish territory due to fears over a global recession: Heena Naik

Heena Naik, Research Analyst-Currency at Angel One, is of the view that the USD-INR is lingering in bullish territory due to fears about a global recession that have triggered huge outflows from debt and equity markets in 2022. If the rupee breaches the 78.40 level against the greenback, there is a possibility of the next key level being at 78.60, she says.  

"A fall in the forward premiums of the USD-INR spot due to the RBI’s trading strategy and plausible dollar shortage has led to bigger carry trade unwinds. This rangebound-to-bullish bias is going to remain in the USD-INR spot for some time," Naik adds.

Power Grid shares trading at Rs 209

Dwarikesh Sugar see a sharp spike, at day's high

Tata Chemicals at Rs 806.1, almost 1% off day's low

15-20% of our sales are in the replacement market: Abhishek Somany of Somany Ceramics

CLSA on SBI

CLSA gives a 'buy' rating on the shares of SBI with a target price of Rs 615.

-- Growth, margin & asset quality are all heading in the right direction

-- Credit growth holding up, better than expectations

-- High certainty of improving margin

-- Valuations are undemanding

Okinawa Autotech releases statement on fire in Mangalore showroom 

Recession in the US does not affect the banking sector in terms of loan demand: Sunil Subramaniam

Sunil Subramaniam, MD & CEO, Sundaram Mutual Fund said, “I see a period of earnings growth of the banking and the larger NBFCs coming in ahead of market expectations and they are not linked to the external world...recession in the US does not affect the banking sector in terms of loan demand, credit growth will grow based on the capex driven growth that India is facing." "So I see banking as an all-weather sector, if you name it, which is a reasonably good place to do your allocation,” he added.

Staples have been impacted by inflation: K Ramakrishnan

JK Paper shares rise 4%

The company will cross Rs 5,000 crore revenue in FY23. The writing and printing paper segment will see 3-4% growth, AS Mehta of JK Paper told CNBC-TV18.

Canara Bank trading 0.6% off day's high 

Auto sector saw recovery across segments: RBI Deputy Governor 

Sensex, Nifty down nearly 1% each from intra-day high

Mahindra and Mahindra slightly down after touching a 52-week high of Rs 1,063.45

Buy Voltas, Tata Communications: Mitessh Thakkar

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

-- Buy Voltas for a target of Rs 1,020 with a stop loss at Rs 970 

-- Buy Tata Communications for a target of Rs 955 with a stop loss at Rs 909 

Rural demand is looking strong: Mayank Shah of Parle Products

SMS Lifesciences trading at Rs 678.2, 3.1% off day's high

Buy Mahindra and Mahindra, Hindalco: Aditya Agarwala

Here are some recommendations by Aditya Agarwala of Invest4edu:

-- Buy Mahindra and Mahindra (M&M) for a target of Rs 1,100 with a stop loss at Rs 1,000 

-- Buy Hindalco for a target of Rs 345 with a stop loss at Rs 310 

Nifty IT 0.4% down to 27,923.4, 1.5% off day's high

Mahindra & Mahindra near day's high

Nifty FY24 EPS can see 4-5% downgrade: Sunil Tirumalai of UBS Securities

Don't expect any fall in passenger vehicle prices amid strong retail demand: ICICI Securities' Basudeb Banerjee

Sensex and Nifty50 firm in the green led by across-the-board buying

Party may be over for steelmakers — here's what it means for investors

India's steel giants have lost about one fifth of their market value in just one month, as they scramble to protect their margin against low alloy rates and weak demand though easing raw material costs lend some support. And analysts are seeing more pain ahead for investors.

An overall environment of risk aversion has been the key headwind for steel prices amid nervousness about a global growth slowdown and forceful rate hikes by key central banks to fight rising price pressures, Sugandha Sachdeva of Religare Broking tells CNBCTV18.com.

"Besides, lockdowns in China have dampened the demand prospects for steel and led to profit booking in the ferrous metal from its March peak. Housing market in the US is also flagging signs of a slowdown which does not bode well for steel rates going ahead," she says. (Read more)

Rupee higher at 78.22 vs US dollar    

On Thursday, the rupee had settled at 78.30 against the greenback.