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    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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    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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    Stock Market Highlights: Indian equity benchmarks BSE Sensex and NSE Nifty50 held on to much of their intraday gains in a strong session on Friday. A slide in benchmark commodity prices offered some respite from broadening inflationary pressures to investors globally, amid concerns about aggressive hikes in COVID-era interest rates and their impact on economic growth. Financial, oil & gas, FMCG and auto stocks were the biggest contributors to the gain in headline indices. Broader markets followed suit, with the Nifty Midcap 100 and Nifty Smallcap 100 indices rising 1.4 percent and 1.8 percent respectively.

    Stock Market Highlights: Financial and oil & gas shares give Sensex a 462-point lift — Nifty50 one point shy of 15,700
    • Thank you, readers! That's all from CNBCTV18.com's live market coverage on June 24, 2022. Stay tuned for other updates on our website: CNBCTV18.com.

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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.

      Stock Market Highlights: Financial and oil & gas shares give Sensex a 462-point lift — Nifty50 one point shy of 15,700
    • Three heavyweights contribute more thn 250 points to the gain in Sensex

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

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

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

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

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

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

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

      Stock Market Highlights: Financial and oil & gas shares give Sensex a 462-point lift — Nifty50 one point shy of 15,700
    • Sensex and Nifty50 firm in the green led by across-the-board buying

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

      Stock Market Highlights: Financial and oil & gas shares give Sensex a 462-point lift — Nifty50 one point shy of 15,700
    • Rupee higher at 78.22 vs US dollar    

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

      Stock Market Highlights: Financial and oil & gas shares give Sensex a 462-point lift — Nifty50 one point shy of 15,700
    Stock Market Highlights
    : Indian equity benchmarks BSE Sensex and NSE Nifty50 held on to much of their intraday gains in a strong session on Friday. A slide in benchmark commodity prices offered some respite from broadening inflationary pressures to investors globally, amid concerns about aggressive hikes in COVID-era interest rates and their impact on economic growth. Financial, oil & gas, FMCG and auto stocks were the biggest contributors to the gain in headline indices. Broader markets followed suit, with the Nifty Midcap 100 and Nifty Smallcap 100 indices rising 1.4 percent and 1.8 percent respectively.

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