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Stock Market Highlights: Sensex ends volatile session 535 pts above day's low and Nifty reclaims 15,350 as market halts 6-day losing streak

Stock Market Highlights: Sensex ends volatile session 535 pts above day's low and Nifty reclaims 15,350 as market halts 6-day losing streak

Summary

Stock Market Highlights: Indian equity benchmarks BSE Sensex and NSE Nifty50 finished a volatile session in the green on Monday, helped by a rebound in financial and IT shares, though investors remained cautious amid concerns about steep hikes in COVID-era interest rates and their impact on economic growth. Losses in oil & gas and metal shares limited the upside in headline indices. Broader indices hit one-year lows, as the Nifty Midcap 100 and Nifty Smallcap 100 indices fell 2.3 percent and 3.2 percent respectively.

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Jun 20, 2022 4:39 PM

Rupee ends higher at 77.98 vs US dollar

On Friday, it had settled at 78.07 against the greenback. (Read more)

Jun 20, 2022 4:19 PM

Market At Close | Last-hour recovery helps Sensex and Nifty settle near day’s highs

Here are some highlights: 

--HDFC Bank supports but IndusInd, Axis Bank and ICICI Bank drag Nifty Bank 

--Broader markets suffer sharp losses

--Midcap and smallcap indices hit over one-year lows

--FMCG stocks rise on positive cues

--Upstream oil companies (ONGC, Oil India) slide amid falling crude oil rates

--Chennai Petroleum and MRPL plunge up to 19 percent

--Axis Bank, BPCL and Hindalco six other Nifty stocks hit 52-week lows

--Vedanta, Rain Industries, Bandhan, Hindustan Copper and GNFC fall over 10 percent each

--Vedanta suffers biggest one-day fall in 18 months on Tuticorin plant sale

--Metal stocks fall amid a sharp fall in global benchmark rates

Jun 20, 2022 3:53 PM

Exclusive | Shankar Sharma says investors shouldn't sell indiscriminately in these faith-shaking days

Jun 20, 2022 3:38 PM

Sensex ends 237 pts higher and Nifty50 reclaims 15,350

Both headline indices finish the volatile session half a percent higher. The Sensex gains 237.4 points to end at 51,597.8 and the Nifty50 settles at 15,366.6, up 73.1 points from its previous close. 

Jun 20, 2022 3:32 PM

Well-capitalised banks best positioned to benefit from rising rate environment: HDFC Securities' Unmesh Sharma

Unmesh Sharma, Head-Institutional Equities at HDFC Securities, tells CNBC-TV18 that well-capitalised banks are in a better position to benefit from the environment of rising interest rates. The recent sell-off has turned valuations in the banking basket more interesting, he says.

"If you adjust the value of the subsidiaries, a lot of these companies are now trading between 1.5 percent and 2.5 times price to book... Of course they can go down further. But if you are a long-term investor, looking at 12 months or beyond, this is one space you definitely want to be overweight on,” he adds. 

Jun 20, 2022 3:29 PM

Why FMCG stocks were trading higher on Monday?

FMCG stocks were trading higher on Monday, in an otherwise weak market, as investors turned positive on the space owing to a number of factors. While Nestle was trading higher by 1.90 percent around 1 PM, Godrej Consumer was up 4.07 percent. Britannia, Dabur and Marico were trading 1.63 percent, 2.56 percent and 1.09 percent higher, respectively. (Here's why)

Jun 20, 2022 3:08 PM

Mahindra and Mahindra at day's low 

Jun 20, 2022 2:44 PM

Godrej Properties 4% down, Indiabulls, Sunteck Realty 5% down

The Nifty Realty index is 0.2 percent up from intraday low at 367. Major real estate stocks like DLF and Oberoi Realty are down.

Taking to CNBC-TV18, Mohit Malhotra of Godrej Properties told CNBC-TV18, "We are present in the top six cities, we are seeing very strong demand across cities. If you look at the top four cities in India, the peak was in FY11 and if you look at even the last year while we had record sales, we were still at 75 percent of that peak, which we hit in FY11. So, the markets have actually corrected very sharply over the last 10 years."

"This was also a period where the income levels have risen between 10 to 12 percent... affordability is at an all-time high. We have also seen a supply very sharply coming down in this sector since the time of introduction of RERA and the liquidity crisis which followed," he said.

He added: "There is a complete shift in how people perceive home today given the amount of time we have spent at our homes during the pandemic. So I think all these factors combined, we are on a positive upcycle and if we just maintain discipline in price hikes, I don't see any reason why this recovery would not continue."

Top Realty Losers 
DLF 
Godrej Properties 
Prestige Estate 
Oberoi Realty 
Indiabulls Real 
Jun 20, 2022 2:25 PM

Exploring options to sell the Tuticorin plant: Vedanta

Jun 20, 2022 2:11 PM

Buy HDFC Ltd, ICICI Bank: Jay Thakkar

Here are recommendations by Jay Thakkar of Marwadi Shares & Finance:

-- Buy HDFC LTD for a target of Rs 2,180-2,200 with a stop loss at Rs 2,110

-- Buy ICICI Bank for a target of Rs 700-710 with a stop loss at Rs 672 

Jun 20, 2022 2:04 PM

Tata Steel shares bounce 0.3% after surpassing 52-week low  

Tata Steel shares trading at Rs 849 after falling beyond the 52-week low of Rs 846.1.

Jun 20, 2022 1:53 PM

Events of the last few days have increased the risk of recession in the US: VK Vijayakumar

VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said that the events of the last few days have increased the risk of recession in the United States. "Synchronised rate hikes by most central banks will certainly hit global growth this year. High interest rates and lower growth will impact corporate earnings." He added: "The correction in the Indian market is not as steep as in the US mainly because of the sustained buying by DIIs and retail countering the relentless selling by FIIs."

He said that if the crude oil prices continue to fall, it can help tame inflation, globally.

"Investors can use weakness in the market to buy high quality large-caps across sectors," he advised. 

Jun 20, 2022 1:47 PM

Headline indices a mixed bag amid choppy trade

Jun 20, 2022 1:25 PM

FMCG basket continues to reel under pressure as central banks line up efforts to tame decades-high inflation

The FMCG index has corrected 14 percent from its 52-week high. 

Here are some key triggers for the space: 

--Globally coordinated efforts to tame inflation

--Price hikes by companies to protect their margins

--Expecations run high on monsoon and demand uptick in second half of the year ending March 2023

--Cooling off competition from new age D2C 

--Two-year underperformance has sobered valuations

--Risk-off sentiment in other sectors

Stock CMP vs 52-week high (%)
Titan -30
Asian Paints -28
HUL -25
Britannia -21
Tata Consumer -20
Nestle -19
Jubilant FoodWorks -46
Bata -42
Godrej Consumer -36
Dabur -26
Pidilite -26
Marico  -22
Colgate -19
Jun 20, 2022 12:44 PM