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

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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.

Stock Market Highlights: Sensex ends 112 points lower, Nifty50 slips below 18,050 as market breaks 2-day winning run
  • Thank you, readers! That's all from CNBC-TV18.com's live market coverage on November 9. Stay tuned for other updates on our website: CNBCTV18.com.

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  • 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.

  • 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. 

  • 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.

  • 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. 

  • 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.

  • 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
  • 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)

  • 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.  

  • 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. 

  • 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
  • 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
  • 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
  • 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.

     

  • 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
  • M&M + MVML Q2 | Net profit rises 3 times to Rs 1,929 crore; revenue up 15%, beats Street estimates

    Mahindra & Mahindra shares extended gains after the earnings announcement. The stock was up 2.1 percent at Rs 877.3 apiece in late afternoon deals. The headline Sensex index was down 0.3 percent. 

  • KKR appoints KV Kamath as Senior Adviser

  • IRCON emerges lowest bidder for Rs 5,142 crore project 

    IRCON International shares jumped after the company emerged the lowest bidder for a project worth Rs 5,142 crore from the National High Speed Rail Corp. The IRCON stock traded 3.6 percent higher at Rs 50.1 apiece on BSE in afternoon.

  • Paytm IPO Day 2 | Total subscription at 35 percent; retail portion fully subscribed, QIB 30% 

    Stock Market Highlights: Sensex ends 112 points lower, Nifty50 slips below 18,050 as market breaks 2-day winning run
  • MRF Q2 | Net profit down 54.6% at Rs 183 crore, revenue up 15.4%

    MRF reported a net profit of Rs 183 crore for the quarter ended September, down 54.6 percent on a year-on-year basis. Revenue came in at Rs 4,831.7 crore in the second quarter of the current financial year, up 15.4 percent. 

    MRF shares traded 1.8 percent lower at Rs 78,427.3 apiece on BSE after the earnings announcement. The headline Sensex index was down 0.2 percent. 

  • CNBC TV-18 Exclusive: 

    BPCL & LIC are very important for achieving the divestment target. DIPAM is working hard to complete them by March 2022, says Revenue Secretary Tarun Bajaj. We will address any possible shortfall in divestment, after seeing tax collection at the end of the year, said Bajaj. He added that the govt hopes to resolve the retro tax cases by the end of FY22.

    Stock Market Highlights: Sensex ends 112 points lower, Nifty50 slips below 18,050 as market breaks 2-day winning run
  • Don’t expect inflation to be transient, says Russel Napier 

    There is a change in the way money supply is made. Now, central banks are no longer in control of money supply. It is made by commercial banks and governments can control money supply if they can control commercial banks’ b/s growth, said Russel Napier.   

  • Nykaa IPO share allotment announced; here's how to check status

    The finalisation of the basis of share allotment for the IPO of FSN E-Commerce Ventures, the owner of Nykaa, was announced on Tuesday, November 9. The initial share sale of Nykaa, which runs an online marketplace of beauty and wellness products, received a strong investor response as it was subscribed over 82 times. (Read more here)

  • Cement cos to perform better from next fiscal; prefer UltraTech, JK Cement, Ramco: Reliance Securities

    Binod Modi, head-strategy at Reliance Securities, on Tuesday, said that they prefer UltraTech Cement from the large-cap space and JK Cement, Ramco Cements, JK Lakshmi Cement from the mid-cap space. “We like UltraTech Cement from the large-cap space. In mid-cap, we like JK Cement, Ramco Cements, JK Lakshmi Cement. We are optimistic about these companies,” he mentioned.

  • Expect Nykaa shares to list around Rs 1,600-1,700: Swastika Investmart's Aayush Agrawal

    Aayush Agrawal, Senior Research Analyst-Merchant Banking at Swastika Investmart, expects Nykaa shares to list on stock exchanges around Rs 1,600-1,700, after the company's IPO saw a formidable response from investors. "The current GMP is around Rs 650... Eyeing the recently listed new-age business and Nykaa's growth plan, we expect the company to perform much better. We recommend the investors to stay invested in the IPO. Nykaa can be a wealth creator in the next 2-3 years," he said. 

  • Sobha Ltd jumps 10% post Q2 earnings; stock hits 52-week high

    Shares of real estate player Sobha Ltd jumped over 10 percent on Tuesday after the company reported strong quarterly numbers. The stock has gained after two days of consecutive fall and hit a 52-week high at Rs 976.7 today. At 11:05 am, shares of the company were up 3.3 percent at Rs 914.3. The company reported a 57 percent jump in consolidated revenue at Rs 819.1 crore while net profit grew nearly three times at Rs 48.3 crore during the quarter ended September.

  • Sundaram Clayton sells 5% stake in TVS to raise around Rs 1,400 crore

    Sundaram Clayton sold 5% stake in TVS and raised around Rs 1,400 crore. The company holds 57.4% stake in TVS motor as of March 31st. The transaction marks the start of the TVS group restructuring process and the proceeds will be distributed via special dividend to shareholders.

  • Sapphire Foods IPO subscribed 13% so far on Day 1

    Sapphire Foods India's initial public offering (IPO) was subscribed 12 percent so far on Tuesday, the first day of the bidding process. The IPO, which is entirely an offer for sale (OFS) by promoters and existing shareholders, will close on Thursday, November 11. Sapphire Foods India is an operator of KFC and Pizza Hut outlets in the country. By 10:36 am, the Sapphire Foods IPO received bids for a total of 12.8 lakh shares as against the 96.6 lakh shares on offer - a subscription of 13 percent. The portion reserved for retail investors was subscribed 37 percent.

  • Oil prices fall after gains on rosier outlook for global economy, fuel demand

    Oil prices slipped on Tuesday after two straight sessions of gains as the passage of a U.S. infrastructure bill, Chinese exports and the global post-pandemic recovery lifted the outlook for fuel demand. Brent crude was down 10 cents at $83.33 a barrel by 0410 GMT, after gaining 0.8% on Monday. U.S. oil was down 6 cents at $81.87 a barrel, also after a 0.8% gain the previous day.

  • TVS Motor up 11% on reports of company exploring investment for EV arm

    TVS Motor Company shares jumped 10 percent on Tuesday after a media report said some global investors might invest in the two-wheeler company’s electric vehicle subsidiary. Earlier today, the stock was locked in its upper circuit limit at Rs 783.40. At 9:44 am, the stock was trading 11 percent higher at Rs 790.5. It hit a 52-week high at Rs 793.45 today and has been gaining since the past 8 days, rising 25 percent during the period.

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.