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Stock Market Highlights: Sensex bounces back nearly 1,200 pts in 2 days and Nifty reclaims 15,600 led by financial, IT and oil & gas shares

Stock Market Highlights: Sensex bounces back nearly 1,200 pts in 2 days and Nifty reclaims 15,600 led by financial, IT and oil & gas shares

Summary

Stock Market Highlights: Indian equity benchmarks BSE Sensex and NSE Nifty50 surged on Tuesday amid gains across sectors, though concerns persisted about aggressive hikes in COVID-era rates and their impact on economic growth. Financial, IT and oil & gas shares were the biggest contributors to the gain in headline indices. Broader markets also strengthened, with the Nifty Midcap 100 and Nifty Smallcap 100 indices rising around 3.5 percent each. Investors globally awaited a key testimony by Fed Chair Jerome Powell due this week.

Live Updates

Thank you, readers! That's all from CNBCTV18.com's live market coverage on June 21, 2022. Stay tuned for other updates on our website: CNBCTV18.com.

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Jun 21, 2022 5:12 PM

Prefer largecap stocks: Hemang Jani

Hemang Jani of Motilal Oswal Financial Services tells CNBC-TV18 that it is safer to go for largecaps given the multiple headwinds, in the form of higher interest rates, difficult global markets and the domestic economy being in a tight spot. "Definitely a much larger preference for the largecap... Within largecaps, sectors where the relative impact of the interest rate and the entire global dynamics is less... so banks, auto, consumer names or commodity users," he says. 

Jun 21, 2022 5:07 PM

Nifty Bank finishes 1.6% higher

Jun 21, 2022 4:35 PM

Rupee edges lower against US dollar

Jun 21, 2022 4:21 PM

Market At Close | 49 Nifty in the green

--Volatility index falls more than five percent — its biggest fall since May 30

--Metal stocks rebound — Hindalco, JSW Steel surge five percent

--Titan surges six percent — its biggest single-day gain since October 2021

--SBI Cards soars seven percent on the back of RBI’s PPI note

--Vedanta gains three percent after company says Tuticorin plant sale in exploratory stage

--Page, Crompton, Alkem, AU SFB top midcap losers

Jun 21, 2022 3:38 PM

Buy Tata Chemicals, SBI Life: Shrikant Chouhan

Shrikant Chouhan of Kotak Securities shares two trading calls: 

--Buy Tata Chemicals for a target of Rs 920-930 with a stop loss at Rs 790 

--Buy SBI Life for a target of Rs 1,180-1,190 with a stop loss at Rs 1,050 

Jun 21, 2022 3:18 PM

Bandhan Bank shares rise, here's what brokerage have to say

Jun 21, 2022 3:00 PM

Buy Tata Chemicals, SBI Life, says Shrikant Chouhan, Kotak Securities

--Buy Tata Chemicals with a stop loss of Rs 790 and a target of Rs 920-930

--Buy SBI Life with a stop loss of Rs 1,050 and a target of Rs 1,180-1,190

Jun 21, 2022 2:51 PM

Vedanta says Tuticorin Copper Smelter sale only at an exploratory stage

"Any such final proposal will only be carried after obtaining necessary approvals," said Vedanta.

Here's how the company's stock reacted to the development

Jun 21, 2022 2:40 PM

Indian market to outperform EMs hereon: Atul Suri of Marathon Trends-Portfolio Management

Atul Suri, CEO, Marathon Trends-Portfolio Management Services expect India to outperform emerging markets from hereon. 

According to him, while FII flows are negative, the selling does not mean foreign investors do not like India or that the market is overvalued or undervalued. 

"We are just a subset of a basket and the whole emerging market (EM) basket and the EM index is 30-33-35 percent off. So India has done very well and I feel that we will emerge post this correction as one of the stronger EM because we have proven that we have liquidity and depth,” he said. 

Jun 21, 2022 2:02 PM

These famous people have hinted at an 'impending' recession in the US

A recent survey of economists, fund managers and investment strategists by CNBC saw 57 percent of the respondents stating that they expected the US to bear a period of recession as a result of the Fed’s rate hikes. Here are some of the biggest names who see the recession coming. 

Jun 21, 2022 1:49 PM

Upcoming three years would be better for Auto segment: Aniruddha Naha

Aniruddha Naha, Head-Equities, PGIM India Mutual Fund said that the upcoming three years would be far better than the last three years for the Auto segment. "I think there are some short-term issues where things need to look a little better, crude has moved up also that is also a little bit of a concern," he said. 

"There are good businesses to be played out there and hence with the next three years in view, we will use a correction into the auto segment to buy,” Naha added.

Jun 21, 2022 1:33 PM

Buy Bharat Dynamics, Maruti Suzuki: Kush Bohra

Here are two recommendations by Kush Bohra of kushbohra.com:

-- Buy Bharat Dynamics Ltd (BDL) for a target of Rs 790 with a stop loss at Rs 725 

-- Buy Maruti Suzuki for a target of Rs 8,000 with a stop loss at Rs 7,700 

Jun 21, 2022 1:24 PM

Vedanta shares 3% off lows

The energy and mining company had been in news after it announced the decision to sell its controversial copper smelter in Tuticorin, Tamil Nadu.

Jun 21, 2022 1:15 PM

Vedanta shares 3% off lows

The energy and mining company's stock had been in news after it announced the decision to sell its controversial copper smelter in Tuticorin, Tamil Nadu.

Jun 21, 2022 1:13 PM