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Stock Market Highlights: Sensex ends 112 points lower, Nifty50 slips below 18,050 as market breaks 2 day winning run

Stock Market Highlights: Sensex ends 112 points lower, Nifty50 slips below 18,050 as market breaks 2-day winning run

Stock Market Highlights: Sensex ends 112 points lower, Nifty50 slips below 18,050 as market breaks 2-day winning run
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Summary

Stock Market Highlights: Indian equity benchmarks Sensex and Nifty50 ended a choppy session with minor losses on Tuesday, snapping a two-day winning run. Losses in financial, consumer goods and metal shares pulled the headline gauges lower, though gains in oil & gas and automobile stocks limited the downside. Strength in broader markets kept investors optimistic. The Nifty Midcap 100 index rose 1.2 percent, and its smallcap counterpart gained half a percent. Analysts awaited the last leg of quarterly numbers from India Inc for cues.

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Nov 9, 2021 4:47 PM

Bharti Airtel best company for investors, not for traders: Sushil Kedia

Sushil Kedia, Founder of Kedianomics, believes Bharti Airte is the best company for investors but its chart is the noisiest for traders now. "I will give it a skip. I want to be focused on signals and stay away from noise but a very clear-cut signal is existing on Vodafone Idea, which maybe the worst stock in the sector. Over the base at about Rs 9.8, we are good for a ride to Rs 15-plus now finally, and Tata Communications is for sober investors. I will not be surprised if it gets to Rs 1,700-1,800 levels over time," he said.

Nov 9, 2021 4:47 PM

Bullish signals in place in IT index barring Tech Mahindra: Sushil Kedia

Sushil Kedia, Founder of Kedianomics, said bullish signals are in place in the IT index except for Tech Mahindra. "Across all the majors, Tata Consultancy Services (TCS), Infosys, Wipro and even HCL Technologies... Tech Mahindra is likely lagging behind these four majors so will give it a skip for now," he said. 

Nov 9, 2021 4:20 PM

A lot of money can be made on LT Foods: Prakash Diwan 

Market expert Prakash Diwan is positive on LT Foods. "LT Foods is kind of morphing itself into a far more different business model than what it started off with. It's no more a pure rice exporter. If you see the kind of product repertoire that they have, all that put together, and the data available from Europe and the US shows that some of their products on the organic cereals and pulses side are doing so well that they have not been able to keep up with the demand growth... So all in all, it's a company that will eventually have much more smoothened out cash flows from various verticals. It won't have the cyclicality that you will normally associate with rice exporters," he said.

He said KRBL is one of the best examples of that. "But LT Foods is probably something that people can still make a lot of money on in terms of the long-term growth story that is emerging. And this news is positive because it takes away a huge overhang in terms of the demand built up and of course we had a little bit of crop shortage this time, but I don't think that's something that you need to factor in but the kind of model that they have reset for themselves. LT Foods definitely makes a pick of the lot from rice exporters," he added.

Nov 9, 2021 4:11 PM

M&M earnings beat Street expectations, some sideways movement likely in stock: Prakash Diwan

Market expert Prakash Diwan said M&M's earnings exceeded the Street's high expectations. "This is the first time an auto major has come out and said that the semiconductor chip issue is kind of getting resolved or is ebbing off, which means that you probably see the fulfillment of demand that still exists in a very good way. You might have a little bit of a sideways movement on the stock," he said.

The current quarter is usually down on sales but the quarter starting in January is something which is likely to be stellar for M&M, he said. "So if you hold the stock, buy it and sit on it for another quarter to see the fireworks begin. But if you haven't, you will probably get more opportunities to do that. And, of course, then keep it on the portfolio for the longer term," he added. 

Nov 9, 2021 4:04 PM

Market At Close | RBL Bank, Vodafone Idea, AB Fashion top midcap gainers; JK Cement, Shriram Transport, JSPL top losers

Here are some highlights:

--Midcaps outperform; midcap index rises over 1%

--Nifty Bank falls 69 points to 39,369; midcap index rises 368 points to 32,186

--M&M top Nifty gainer, up 4% on strong management commentary post Q2 earnings

--Reliance Industries makes sharp move in last hour of trade, closes at day’s high

--Britannia falls nearly 3% after weak Q2 earnings, top Nifty loser

--TVS Motor slips 11% from day’s high after company’s clarification on EV investment reports

--PowerGrid closes 1% lower; Petronet, IGL gain ahead of earnings

--RBL Bank, Vodafone Idea, AB Fashion, IndiaBulls Housing, Escorts top midcap gainers

--JK Cement, Shriram Transport, JSPL, Muthoot Finance, Vedanta top midcap losers

--Market breadth favours bulls; advance-decline ratio at 3:2

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

Nov 9, 2021 3:50 PM

Market At Close | M&M, Tata Motors, Hero MotoCorp, SBI top gainers

ONGC, Reliance Industries and ICICI Bank were also among the gainers. On the other hand, Britannia, HDFC Bank, HDFC, NTPC, Bajaj Finance and Maruti Suzuki were among the laggards. 

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

Stock Market Highlights: Sensex ends 112 points lower, Nifty50 slips below 18,050 as market breaks 2-day winning run
Nov 9, 2021 3:45 PM

MSCI Reshuffle | Wipro may replace Bajaj Auto in Sensex, says Edelweiss

Edelweiss Alternative Research maintains Wipro as a high conviction inclusion candidate for the Sensex index, and Bajaj Auto as an exclusion candidate. (Read more on possible rejig candidates)

Nov 9, 2021 3:38 PM

Closing Bell | Sensex falls 112 points, Nifty at 18,052

The 30-scrip index shed 112.2 points or 0.2 percent to end at 60,433.5 and the broader Nifty50 benchmark settled at 18,051.6, down 17 points or 0.1 percent from its previous close.  

Nov 9, 2021 3:33 PM

IDFC board gives nod to merger of IDFC Alternatives, IDFC Trustee Co, IDFC Projs with company

IDFC shares jumped after the news. The stock traded 4.1 percent higher at Rs 59.4 apiece on BSE in the final minutes of the session. 

Nov 9, 2021 3:27 PM

Gold futures steady above Rs 48,000 mark; time to take positions?

MCX gold futures (December 3) quoted at Rs 48,094 per 10 grams, up by Rs 76 or 0.2 percent compared with their previous close. Silver futures were down by seven rupees at Rs 64,874 per kilogram.Globally, the yellow metal was steady, consolidating near a two-month high scaled in the previous session, as a weak dollar offset firm US bond yields. (Read more on gold and silver rates)

Stock Market Highlights: Sensex ends 112 points lower, Nifty50 slips below 18,050 as market breaks 2-day winning run
Nov 9, 2021 3:21 PM

Government hopes to resolve retro tax case by end of fiscal year: Revenue Secretary

India hopes to resolve the retrospective tax cases by the end of the fiscal year, Revenue Secretary Tarun Bajaj told CNBC-TV18. (Read more)

Stock Market Highlights: Sensex ends 112 points lower, Nifty50 slips below 18,050 as market breaks 2-day winning run
Nov 9, 2021 3:09 PM

Indiabulls Real Estate appoints KG Krishnamurthy as Non-Executive Chairman effective February 1

Stock Market Highlights: Sensex ends 112 points lower, Nifty50 slips below 18,050 as market breaks 2-day winning run
Nov 9, 2021 3:01 PM

M&M Q2 | Auto major says resilient quarter despite challenges around supply chain, commodity prices

Mahindra & Mahindra's management said the company saw a resilient quarter despite challenges surrounding the supply chain and high commodity prices. The group saw a strong recovery across companies, especially M&M Finance. 

The automaker received more than 70,000 bookings For the XUV700.

 

Nov 9, 2021 2:52 PM

SBI shares outshine banking pack, up 141% in 12 months; will the rally continue?

Most brokerages have raised their targets for the SBI stock after the banking major posted a strong set of quarterly earnings. (Read more on SBI and other PSU banking names)

Stock Market Highlights: Sensex ends 112 points lower, Nifty50 slips below 18,050 as market breaks 2-day winning run
Nov 9, 2021 2:42 PM

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