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Stock Market Highlights: Sensex sheds nearly 4,000 pts in 6 days and Nifty cracks below 15,300 as market continues to fall

Stock Market Highlights: Sensex sheds nearly 4,000 pts in 6 days and Nifty cracks below 15,300 as market continues to fall

Summary

Stock Market Highlights: Indian equity benchmarks BSE Sensex and NSE Nifty50 extended losses to a sixth back-to-back session on Friday even as they managed to recover most of their intraday losses helped by strength in select financial and oil & gas shares. A cautious mood in most global markets amid growing worries about recession dented the sentiment on Dalal Street. However, losses in IT stocks played spoilsport, as heavyweights such as TCS and Wipro weakened. Broader markets also succumbed to selling pressure, with the Nifty Midcap 100 and Nifty Smallcap 100 indices falling around one percent each. 

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Jun 17, 2022 4:00 PM

Market At Close | Wipro, BPCL, TCS, Tech Mahindra among 17 Nifty stocks to hit 52-week lows

--Reliance, ICICI Bank and HDFC Bank aid market recovery

--L&T, Titan and TCS drag headline indices

--Titan suffers biggest fall since May 2020

--Pharma stocks see major selling -- index donw two percent

--Reliance Industries rises nearly two percent after Jio reports maximum monthly user additions 

--Metal stocks halt losing streak

--Delta Corp surges 13 percent after company files DRHP for gaming arm

--Market breadth favours the bulls -- advance-decline ratio at 2:5

Jun 17, 2022 3:43 PM

Rupee flat at 78.07

Jun 17, 2022 3:39 PM

Top losers

Jun 17, 2022 3:17 PM

Escorts at day's low

Jun 17, 2022 3:08 PM

Reliance Industries hovering near intraday high, trading at Rs 2,612

(Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary)

Jun 17, 2022 2:57 PM

LIC almost one percent up from lifetime low

Jun 17, 2022 2:44 PM

Coal India at Rs182.8, 1.5% up from previous close

Jun 17, 2022 2:32 PM

Mahindra and Mahindra back in green

Jun 17, 2022 2:17 PM

Buy Delta Corp, sell Coromandel International: Hemen Kapadia

Here are two recommendations by Hemen Kapadia of KRChoksey Securities:

-- Buy Delta Corp for a target of Rs 195 with a stop loss at Rs 165

-- Sell Coromandel International for a target of Rs 905 with a stop loss at Rs 950 

Jun 17, 2022 2:07 PM

Crypto, not an asset: Chief Economic Adviser

Stating that crypto doesn’t have any cash flow backing, V Anantha Nageswaran, Chief Economic Adviser said, "hence [crypto is] not an asset." He added that corrections in crypto has some more room to go. 

Jun 17, 2022 2:02 PM

Inflation problem in Asia is purely commodity driven: Credit Suisse

Dan Fineman of Credit Suisse told CNBC-TV18 the the problem of inflation in Asia is purely commodity driven. "Inflation in Asia can drop off pretty quickly... could get into recessionary situation next year," he said

Jun 17, 2022 1:49 PM

HDFC Life hovering near intraday low 

HDFC Life trading at Rs 550.2, 3.6 percent down from intraday high. 

Jun 17, 2022 1:42 PM

Nominal GDP growth estimate is 14-15 percent: Chief Economic Adviser

V Anantha Nageswaran, Chief Economic Adviser, told CNBC-TV18, that the nominal GDP will be higher than the budgeted 11.1 percent. He said that the nominal GDP growth estimate is 14-15 percent.

He added that the government is doing whatever it can do to create jobs. "Employment generation will remain a policy priority," Nageswaran said. 

Jun 17, 2022 1:29 PM

Buy Reliance Industries, Conforge: Prakash Gaba

Here are recommendations by Prakash Gaba of prakashgaba.com:

-- Buy Reliance Industries Ltd for a target of Rs 2,650 with a stop loss at Rs 2,560

-- Buy Coforge for a target of Rs 3,525 with a stop loss at Rs 3,350 

Jun 17, 2022 1:09 PM