Stock Market Highlights: Sensex holds 53,000 as market gives up day's gains — rupee hits record low of 78.97


Stock Market Highlights: Indian equity benchmarks BSE Sensex and NSE Nifty50 finished a choppy session flat on Thursday, though global markets saw deeper losses after data showed the world's largest economy contracted in the quarter ended March 2022. Broader markets underperformed the headline indices, with the Nifty Midcap 100 and Nifty Smallcap 100 gauges falling 0.8 percent and 0.5 percent respectively. 

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Jun 30, 2022 4:30 PM

Market might have factored in most of negatives: HDFC AMC's Gopal Agrawal

Gopal Agrawal, Senior Fund Manager at HDFC AMC, tells CNBC-TV 18 that the market might have factored in most of the negatives in his view. 

"The market is definitely at a balance and what we are seeing certainly, inflation might have peaked or like we are seeing some normalisation into the bond yield globally... Definitely the earnings will be a major driver from here on," he says. 

Jun 30, 2022 4:29 PM

Market At Close | Sensex and Nifty50 fall 10% in April-June — biggest Q2 fall since 2008

Here are some highlights:

--Reliance and banking stocks support the market

--IT and auto stocks drag the market 

--Auto stocks under pressure ahead of monthly sales data

--Metal stocks reverse Wednesday's gains — Tata Steel, JSW Steel and Hindalco fall two percent 

--MCX rises three percent on SEBI’s nod for FPI in commodity derivatives

--Insurance basket rises — HDFC, SBI Life and ICICI Pru rise one percent

--Delta Corp falls eight percent as GoM gets two weeks to submit report on casino GST 

--Birlasoft, IRCTC, Strides, JSPL, CONCOR, Bank of Baroda, Vedanta top midcap losers

--Shriram Transport, REC, Indus Towers, HDFC AMC, MCX, USL top midcap gainers

--Market breadth favours the bears — advance-decline ratio at 1:2

Jun 30, 2022 3:58 PM
Jun 30, 2022 3:50 PM
Jun 30, 2022 3:47 PM

Rupee might depreciate towards 80.5/81 vs US dollar by year-end: Anand Rathi Shares' Jigar Trivedi 

Jigar Trivedi, Research Analyst-Commodities and Currencies Fundamental at Anand Rathi Shares & Stock Brokers, is of the view that the rupee might depreciate towards 80.5/81 levels by the end of the year owing to the widening of twin deficits.

"Rising crude oil prices might continue to weigh down on the net importer’s trade deficit, after rising to a record high deficit of $24.29 billion in May. Meanwhile, narrowing interest rate differentials amid hawkish central banks across the horizon, with the Fed ready to hike the rate by 75 bps in July, might amplify the capital outflows, adding pressure on capital account. Though the RBI might intervene in the forex markets to curb the losses, it's unlikely to draw a line in the sand, as fundamentals remain weak," he says. 

Jun 30, 2022 3:17 PM

Maruti Suzuki at day's low

Jun 30, 2022 2:53 PM

MTAR Technology back in green 

Jun 30, 2022 2:43 PM

Metro Cash & Carry is illegally issuing add-on cards on the same GST number: Praveen Khandelwal of CAIT

Jun 30, 2022 2:28 PM

Buy PVR, Ashok Leyland: Shrikant Chouhan

Here are two recommendations by Shrikant Chouhan of Kotak Securities:

-- Buy PVR for a target of Rs 2,050-2,100 with a stop loss at Rs 1,800 

-- Buy Ashok Leyland for a target of Rs 155-160 with a stop loss at Rs 140 

Jun 30, 2022 2:12 PM

ABB India to automate operations across THINK Gas’s Network

Here's how the stock reacted to the development 

Jun 30, 2022 1:53 PM

Central banks are less important than people think: Kenneth Fisher of Fisher Investments

According to Fisher central banks are less important than people think they are. "Central banks are more reactive, not the cause as they are seen to be. Time is what will get us out of this fall." He added that the central banks are prone to doing ‘stupid stuff’. "I am usually more fearful of central banks vs being hopeful," he said.

Jun 30, 2022 1:35 PM

Buy Shriram Transport, Eveready, sell Indiabulls: Ashish Kyal

Here are some recommendations by Ashish Kyal of Waves Strategy Advisors:

-- Buy Shriram Transport Finance for a target of Rs 1,350 with a stop loss at Rs 1,205 

-- Sell Indiabulls Housing Finance for a target of Rs 87 with a stop loss at Rs 97.50 

-- Buy Eveready Industries for a target of Rs 350 with a stop loss at Rs 310 

Jun 30, 2022 1:14 PM

This global fall has been longer than just a correction: Kenneth Fisher of Fisher Investments

Fisher said that the global fall has been longer than just a correction and that people are confusing it with a bear market. "Global economic health is not as bad as it is being made out to be," he added. 

Jun 30, 2022 1:06 PM

Maruti Suzuki shares at Rs 8543.4, 0.7% off day's low 

Jun 30, 2022 12:55 PM