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Stock Market Highlights: Sensex ends 773 pts lower, Nifty below 17,400; TechM down 3%, Zomato 6%

Stock Market Highlights: Sensex ends 773 pts lower, Nifty below 17,400; TechM down 3%, Zomato 6%

Stock Market Highlights: Sensex ends 773 pts lower, Nifty below 17,400; TechM down 3%, Zomato 6%
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Summary

Stock Market Highlights: Indian equity benchmarks Sensex and Nifty50 snapped a three-day winning run on Friday amid weak global cues, as US inflation data stoked fears of aggressive rate hikes. All sectors were deep in the red, with financial, IT and consumer shares being the biggest drags on headline indices. Broader markets also weakened. The Nifty Midcap 100 and Nifty Smallcap 100 indices fell more than two percent each. Investors awaited the last leg of corporate earnings for cues.

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Feb 11, 2022 5:40 PM

Generally positive on Apollo Hospitals, a correction to make it an interesting buy: Dipan Mehta

Dipan Mehta, Director at Elixir Equities, is of the view that a correction will make Apollo Hospitals an interesting buy. "With an overall decline in COVID-related cases, one should see a gradual improvement in non-COVID cases as well as other medical procedures that have been put off. Over the last few years, Apollo Hospitals has established its own network... They're just about trying to get higher capacity utilisation and a better yield from their assets," he says. 

Mehta expects an improvement in the return on investment for Apollo Hospitals going forward. He is generally positive on Apollo Hospitals. "The overall market trends are negative. So you may get the stock at a slightly cheaper valuation," he adds. 

Feb 11, 2022 5:27 PM

This is certainly buy-on-dip market: Kotak Mahindra AMC's Nilesh Shah

Nilesh Shah of Kotak Mahindra AMC tells CNBC-TV18 that in his view, this is certainly a buy-on-dip market. His advice: Follow a disciplined asset allocation approach. 

Fed action will have an impact on emerging markets and one has to be ready for high volatility ahead, he says. 

Feb 11, 2022 5:10 PM

IT demand environment remains robust: Jitendra Arora 

Jitendra Arora, Executive VP and Equity Fund Manager at ICICI Prudential Life Insurance, believes the demand environment for IT companies remains robust, though one can expect some of the rerating in the past couple of years to correct going forward. "Midcap IT companies are pretty confident of growth in high teens over the next couple of years. If that pans out, the earnings can continue to grow at 20-25 percent for over next couple of years, and even though we may see some kind of correction in the multiples, the stocks can still deliver double-digit returns," he adds. 

Feb 11, 2022 4:50 PM

Good stocks like Divi's always at a premium, pipeline strong: Prakash Diwan

Market expert Prakash Diwan remains positive on Divi's, a company he believes one can never be disappointed with. Such good stocks are always at a premium, su one should use any opportunity to buy. "Remember one thing, there's a very strong pipeline that they have that has actually got delayed, so any fruition out there is actually going to start to look up or in some other pockets," he says.

"The only rationalisation that happens is when you have a little bit of this newsflow, which seems like slightly rebating, but those opportunities are wonderful in the long run... These pay off every time you buy Divi’s and that's the strategy we continue to stick to," he adds. 

Feb 11, 2022 4:37 PM

Rupee ends lower at 75.38 vs US dollar

The rupee ends at 75.38 against the greenback. On Thursday, it had settled at 74.94.

Stock Market Highlights: Sensex ends 773 pts lower, Nifty below 17,400; TechM down 3%, Zomato 6%
Feb 11, 2022 4:24 PM

Market At Close | Grasim, Tech Mahindra, Infosys, UPL, HCL Tech top blue-chip laggards

Forty five stocks in Nifty50 in the red. SBI, Kotak Mahindra Bank, HDFC, UltraTech and Wiprl also among the worst hit stocks in the pack. 

Here's how the 30-scrip basket fared:

Stock Market Highlights: Sensex ends 773 pts lower, Nifty below 17,400; TechM down 3%, Zomato 6%
Feb 11, 2022 4:05 PM

Market At Close | Sensex, Nifty erase most of gains in last 3 days

Here are some highlights: 

--Weak global cues lead to all-round fall

--All sectoral indices in the red; volatility index up over 5%

--Nifty Bank down 494 points at 38,517

--Midcap index down 614 points at 29,729

--Infosys, ICICI Bank, HDFC, TCS, Kotak bank drag Nifty most

--Midcap IT stocks fall in line with its largecap peers; L&T Infotech, Persistent top losers

--Divi’s, Apollo Hospitals fall despite better-than-expected Q3 earnings

--Motherson Sumi falls 4% after weak Q3 results

--TVS Motor off intraday low after large trade 

--Aurobindo, Laurus, Petronet, IGL gain 

--BSE-listed companies lose over Rs 4 lakh crore in mcap

--Market breadth favours bears; advance-decline ratio at 2:7

Stock Market Highlights: Sensex ends 773 pts lower, Nifty below 17,400; TechM down 3%, Zomato 6%
Feb 11, 2022 3:54 PM

Closing Bell | Sensex ends 773 pts lower, Nifty50 cracks below 17,350

Both headline indices close 1.3 percent lower, recovering some of their intraday losses. The 30-scrip index down 773.1 points at 58,152.9 and the broader Nifty50 at 17,374.8, down 231.1 points from its previous close. (Read more on the closing bell)

Feb 11, 2022 3:40 PM

Q3 results | Apollo Hospitals net profit at Rs 243.2 crore

Apollo Hospitals posted Q3 net profit at Rs 243.2 crore Vs CNBC-TV18 poll of Rs 260.4 crore. Revenue stood at Rs 3,639 crore Vs CNBC-TV18 poll of Rs 3,703.4 crore. EBITDA was at Rs 587 crore Vs CNBC-TV18 poll of Rs 595.6 crore while EBITDA Margin At 16.1 percent Vs CNBC-TV18 poll of 16.1 percent.

Feb 11, 2022 3:37 PM

Q3 results | Oil India net profit rises 13% at Rs 1,298 crore

Oil India posted a consolidated net profit (GU) of Rs 1,298 crore, up 12.7 percent from Rs 1,151.6 crore posted last quarter. Revenue (GU) was up 11.8 percent at Rs 5,742.2 crore Vs Rs 5,137.5 crore (QoQ). EBITDA (RD) stood at Rs 2,198 crore Vs Rs 2,314 crore (QoQ) whie Margin was at 38.3 percent Vs 45 percent (QoQ)

Feb 11, 2022 3:33 PM

Q3 Results | Power Finance Corporation net profit up 2% at Rs 2,380 crore

Power Finance Corporation down 1.75 percent after the company posted a 2 percent jump in standalone net profit at Rs 2,380 crore versus Rs 2,333 crore. Revenue down 4.5 percent at Rs 9,626 crore versus Rs 1,884 crore, YoY.

Feb 11, 2022 3:27 PM

Adani Wilmar shares extend gains, premium over listing price reaches 90%

Adani Wilmar continued to rise on Friday after strong listing day gains this week. The stock of Adani Wilmar surged as much as 10 percent to Rs 419.9 on BSE, a premium of 90 percent over the opening price of Rs 221 on listing day. Adani Wilmar is the latest to enter the Adani group stocks. At Friday's high, Adani Wilmar shares changed hands at a premium of 82.6 percent over the issue price of Rs 230.

Feb 11, 2022 3:23 PM

Passenger vehicle wholesales dip 8% in January

Passenger vehicle dispatches from factories to dealers in India fell 8 percent in January, mainly due to semiconductor shortage, auto industry body SIAM said on Friday. The total passenger vehicle wholesales dropped to 254,287 units in January 2022 as compared to 276,554 units in the same month of last year.

Feb 11, 2022 3:13 PM

RBI believes differing policy strategy, policy stance can coexist: SBI report

Stating that the RBI has surprised everyone with its status quo on rates and accommodative stance for the 10th time in a row and a lower forecast for inflation and growth for FY23, SBI Research said that with this, the central bank has set a clear distinction between policy strategy and policy stance and that these can coexist simultaneously. 

As result, the bond yields have shed seven basis points (bps) to 6.73 percent on Thursday after touching 6.88 percent on the Budget day when the government said it would borrow a record Rs 14.3 lakh crore to fund its capex (capital expenditure) plans of Rs 7.5 lakh crore.

Feb 11, 2022 3:09 PM

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