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    Stock Market Highlights: Sensex fails to stay in green, ends 69 pts lower; Kotak Bank, Titan down 2%

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    Stock Market Highlights: Sensex fails to stay in green, ends 69 pts lower; Kotak Bank, Titan down 2%

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    Stock Market Highlights: Indian equity benchmarks Sensex and Nifty50 failed to hold on to positive territory in a choppy session on Wednesday, amid a mixed trend in other Asian markets as investors' focus globally remained on the Russia-Ukraine conflict. Losses in oil & gas and select financial stocks pulled the headline indices lower, though gains in consumer and PSU banking names limited the downside. Broader markets managed to hold on to the green, with the Nifty Midcap 100 rising 0.6 percent for the day. Its smallcap counterpart climbed up 1.2 percent. Analysts expect volatility to continue ahead of the expiry of monthly futures & options contracts due on Thursday.

    Stock Market Highlights: Sensex fails to stay in green, ends 69 pts lower; Kotak Bank, Titan down 2%
    • Thank you, readers! That's all from CNBC-TV18.com's live market coverage on February 23, 2022. Stay tuned for other updates on our website: CNBCTV18.com

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      Catch latest from CNBC-TV18's coverage of Russia-Ukraine conflict

    • Jubilant FoodWorks to continue to top industry SSG growth in medium-long term: Karan Taurani 

      Karan Taurani of Elara Securities is positive on Jubilant FoodWorks, which he believes continue to surpass industry average SSG growth in the medium to long term because of its high exposure to delivery. "I think one more large trigger for Jubilant is the new business initiatives. I think there is a big potential for these new initiatives to scale up and probably that will also add to some part of upgrades, maybe in the next 24 to 36 months," he adds. 

    • Crompton Greaves Consumer deal great for Butterfly shareholders: Prakash Diwan 

      Market expert Prakash Diwan is of the view that the Crompton Greaves Consumer deal is great for Butterfly Gandhimathi shareholders. "For Crompton Greaves Consumer customers, it is an acquisition, which is good, but it is not that they are getting it at a steal or something... They will have to earn their price in terms of what they are paying for Butterfly," he says. 

      "There are potentially a lot of synergies. The distribution reach that Crompton accords itself by this acquisition in the southern Indian market is significant and remember the price points at which Crompton actually operates. There is not much of duplication if they were to kind of combine the portfolio mix. The SKUs  that Gandhimathi has is fairly unique to that side of a business; there are smaller appliances and lower price points. So you are talking about straddling a very different market segment. You are not cannibalising your own market segment by acquiring this," he says.

      However, he also says that as far as numbers are concerned, Gandhimathi has always struggled a lot with tepid kind of margins for the simple reason that it had a poor working capital management earlier. "That has kind of taken long to correct itself, and it still got enough room where it could improve. If you look at that particular part of the balance sheet, there will be some sort of benefits from the synergies that could appear," he adds. 

    • Market At Close | ONGC top Nifty loser as crude recedes from 7-year high of $99

      Here are some highlights: 

      --Kotak, Titan, IndusInd, Tata Consumer, Hindalco, Maruti top Nifty gainers

      --ONGC, Hero Moto, L&T, NTPC, Nestle, JSW & Divi’s Are Top Nifty Losers

      --Kotak Mahindra Bank, IndusInd support Nifty Bank, HDFC Bank, ICICI drag 

      --Auto stocks see sharp fall in last hour of trade; Hero MotoCorp top loser

      --Crompton Greaves Consumer top midcap gainer after Butterfly deal

      --Healthy gains in realty stocks; DLF rises 6 percent, Oberoi 4 percent

      --Firstsource, GSPL, Delta, Chambal, Alembic top midcap gainers

      --Gujarat Gas, Indiabulls Housing, Vodafone Idea, Ambuja top midcap losers

      --NSE advance-decline ratio at 5:2

    • Rupee ends higher at 74.56 vs US dollar

      The rupee finished the day at 74.56 against the greenback. On Tuesday, it had settled at 74.88.

      Stock Market Highlights: Sensex fails to stay in green, ends 69 pts lower; Kotak Bank, Titan down 2%
    • ONGC, Hero MotoCorp, NTPC, L&T, JSW Steel top blue-chip laggards

      Divi's, Nestle, Grasim, UPL and ICICI Bank also among top blue-chip losers in the Nifty universe. Kotak Mahindra Bank, Titan, IndusInd, Tata Consumer and Maruti Suzuki top performers among the 23 gainers in the 50-strong basket. 

      Here's how the 30-scrip pack fared:

      Stock Market Highlights: Sensex fails to stay in green, ends 69 pts lower; Kotak Bank, Titan down 2%
    • Closing Bell | Sensex down 69 points, Nifty at 17,063 

      Both headline indices succumb to negative territory in the last hour of the session. The Sensex down 68.6 points or 0.1 percent to settle at 57,232.1 and the Nifty50 finishes the day at 17,063.3, down 29 points or 0.2 percent from its previous close. (Read more on the closing bell)

      Stock Market Highlights: Sensex fails to stay in green, ends 69 pts lower; Kotak Bank, Titan down 2%
    • European stocks open higher with all eyes on Ukraine

      European stock markets climbed at the open on Wednesday, as investors tracked the latest developments in the Russia-Ukraine crisis. London's benchmark FTSE 100 advanced 0.5 percent to 7,531.42 points compared with Tuesday's closing level. In the eurozone, Frankfurt's DAX added 0.8 percent to 14,814.86 points and the Paris CAC 40 won almost one percent to 6,854.16.

    • Nykaa shares rally nearly 5% on settlement of litigation with L'Oreal

      FSN E-Commerce Ventures, which is widely known as Nykaa, gained as much as 4.6 percent on February 23, as the company finally settled its pending litigation with L'Oreal. The company informed exchanges on February 22 that the litigation with L'Oreal S.A. has been settled. "The certified true copy of the Delhi High Court order dated January 21, 2022, was received by the company on February 21."

    • TVS Motor clocks 1 million exports in two-wheeler segment in FY21-22

      Two and three-wheeler major TVS Motor Company on Wednesday said its exports in two-wheeler segment clocked sales of one million (10 lakh) units, marking a significant milestone in the current financial year for the first time, the company said on Wednesday. The exports include the sales from TVS Motor and also from Indonesian unit PT TVS.

    • Key NSE IT official grilled by CBI in NSE colocation scam probe

      The Central Bureau of Investigation (CBI) on Tuesday questioned N Murlidaran, Executive Vice Chairman of NSEIT, in Mumbai as part of its probe into irregularities in NSE’s colocation facility, sources told CNBCTV18.com. NSEIT is a 100 percent subsidiary of NSE. Murlidaran was previously MD and CEO of NSEIT and in charge of overseeing operations at the colocation facility.

    • Market to see cases of 'Kabhi Khushi Kabhi Gham': Atul Suri

      “You don’t have trending markets, you have sideways markets and that is why you will have these cases of ‘Kabhi Khushi Kabhi Gham’,” said Atul Suri, CEO at Marathon Trends-PMS in an interview with CNBC-TV18. There won’t be runaway trending winners in the markets, he said. He believes the market currently is in a consolidation phase. “2022 will be a tough year of muted returns,” he said.

    • Rahul Bajaj was my senior and India’s most respected business leader: Mukesh Ambani at Asia Economic Dialogue

      Reliance Industries Chairman and Managing Director Mukesh Ambani on Wednesday said that Rahul Bajaj, former chairman of Bajaj Group, was India’s most respected business leader. Reliance Industries Chairman and Managing Director Mukesh Ambani on Wednesday said that Rahul Bajaj, former chairman of Bajaj Group, was India’s most respected business leader.

    • Sunteck Realty, Sobha shares jump 6%, DLF rallies 5%; what’s behind real estate stocks’ high rise

      Shares of real estate companies were back in the green on Wednesday, a day after trading mixed amid a broad sell-off. Even as global peers remained mixed on escalating Russia-Ukraine tensions, the Indian stock market today witnessed a positive investor sentiment. Amid increasing housing demand, the sectoral gauge Nifty Realty rose more than 3 percent today. The index jumped 3.32 percent in intraday trade, recovering from the 3.18 percent loss it suffered in the past five days.

    • BharatPe terminates services of Madhuri Jain Grover 

      Madhuri Jain Grover was the head of controls at BharatPe.

    • India must increase energy output at affordable price, raise share of green, clean energy: Mukesh Ambani

      It is becoming obvious that the centre of attention for the global economy has shifted to Asia, Reliance Industries Chairman Mukesh Ambani says at the Asia Economic Dialogue. 

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

    • Buy Titan, sell TCS: Aditya Agarwala 

      Aditya Agarwala of Yes Securities shares two trading calls: 

      --Sell TCS for a target of Rs 3,400 with a stop loss at Rs 3,670 

      --Buy Titan for a target of Rs 2,650 with a stop loss at Rs 2,440 

    • Nifty50 holds above 200-day SMA

      The 50-scrip index moves between 17,120 and 17,221 for the day so far. 

      Here's where it stands compared to its simple moving averages:

      Period (No. of days)
      Simple moving average Signal
      5 17,209.46 Bearish
      10 17,254.54 Bearish
      20 17,323.74 Bearish
      50 17,445.96 Bearish
      100 17,601.26 Bearish
      200 16,888.23

      Bullish

       
    • Don't see huge blow to economics of Indian market from Russia-Ukraine conflict: Jigar Mistry

      Jigar Mistry, Co-Founder of Buoyant Capital, says that from a fundamental perspective, the Russia-Ukraine conflict impacts oil prices and in turn India's current account deficit, but doesn't not impose a huge issue in the economics of the Indian market.

      "Emerging markets become risky, so flows might continue for slightly longer, and the domestic situation doesn't get addressed... After years of clean-up, you are probably looking at one of the finest fundamentals for the last 14-15 years, and the fiscal impulse was very solid. The monetary support continues despite hawkish stance elsewhere in the world and corporate earnings have been reasonably resilient. Besides FMCG, I think, a number of banks and life insurance and consumption growth have been fairly strong," he says. 

      "The median correction in stock prices is somewhere around 27-28 percent and people are no longer aggressively looking to buy the dip... I would take a month, look at the liquidity conditions normalise, and then pick up on the fundamentals again. I think expectations are tapered," he adds. 

      His advice: It is a good time to re-evaluate the market and use that time to build a reasonably resilient portfolio.

    • Continue to like IT sector: Naveen Chandramohan

      Naveen Chandramohan of ITUS Capital tells CNBC-TV18 he continues to like the IT space, spending in which has become a necessity. 

      ITUS Capital has trimmed positions in Alembic Pharma, and does not want more exposure to drug makers with high US sales, he says. 

    • Amazon-Future Case | Supreme Court seeks clarity from NCLAT on Amazon's challenge to CCI order suspending approval

      The NCLAT is scheduled to hear Amazon's challenge to the fair trade regulator's order on Friday.

    • Buy Asian Paints, Titan: Prakash Gaba

      Prakash Gaba of prakashgaba.com shares two trading calls:

      --Buy Asian Paints for a target of Rs 3,375 with a stop loss at Rs 3,250 

      --Buy Titan for a target of Rs 2,550 with a stop loss at Rs 2,490 

    • Russian President says Moscow ready to look for ‘diplomatic solutions’ with West over Ukraine: AFP 

      Catch latest from CNBC-TV18's coverage of Russia-Ukraine conflict

    • Butterfly Gandhimathi retreats from 52-week high

      Butterfly Gandhimathi Appliances left with a gain of 0.3 percent at Rs 1,395, having risen to a 52-week high of Rs 1,419 earlier in the day. 

      Crompton Greaves Consumer Electricals shares rise as much as 5.6 percent to Rs 399.8 apiece. (Read on Butterfly Gandhimathi-Crompton Greaves Consumer deal)

    • Momentumisers | DLF in focus

      DLF shares gain as much as 5.3 percent to Rs 341.7, snapping a losing streak that stretched to five consecutive sessions. 

      Here's what put pressure on DLF in recent past: 

      --Risk-off sentiment in market 

      --Fears of rising interest rate cycle

      --Inflation working against real estate sector (Read more on DLF shares)

      Here's how the stock fared in the past one year:

      Stock Market Highlights: Sensex fails to stay in green, ends 69 pts lower; Kotak Bank, Titan down 2%
    • Sun Pharma arm to acquire Alchemee from Galderma for $90 million

      Taro Pharmaceutical Industries' wholly-owned unit, Taro Pharmaceuticals USA, will acquire Alchemee -- formerly The Proactiv Co (TPC) -- from Galderma for $90 million. Taro Pharma is a subsidiary of Sun Pharma. 

      Alchemee manufactures and markets dermatologist-tested treatments. 

      Sun Pharma shares up as much as 0.8 percent at Rs 852.9 after the news. 

    • IndiaMART InterMESH to acquire 26% stake in IB MonotaRO for Rs 104.2 crore

      IndiaMART shares up 1.4 percent at Rs 4,858, having risen as much as 3.9 percent earlier on Wednesday. 

    • Oil price spike to impact EMs, consumer staples attractive: William O’Neil

      Dean Kim of William O'Neil + Co believes the oil price spike is likely to have repercussions for emerging markets (EMs). In an interview to CNBC-TV18, Kim says companies that are net importers of oil will bear the brunt of the rise. (Read more)

      Stock Market Highlights: Sensex fails to stay in green, ends 69 pts lower; Kotak Bank, Titan down 2%
    • Buy USL, Kotak Mahindra Bank: Prakash Gaba

      Here are two trading calls from Prakash Gaba of prakashgaba.com: 

      --Buy United Spirits for a target of Rs 860 with a stop loss at Rs 842 

      --Buy Kotak Mahindra Bank for a target of Rs 1,950 with a stop loss at Rs 1,860 

    Stock Market Highlights
    : Indian equity benchmarks Sensex and Nifty50 failed to hold on to positive territory in a choppy session on Wednesday, amid a mixed trend in other Asian markets as investors' focus globally remained on the Russia-Ukraine conflict. Losses in oil & gas and select financial stocks pulled the headline indices lower, though gains in consumer and PSU banking names limited the downside. Broader markets managed to hold on to the green, with the Nifty Midcap 100 rising 0.6 percent for the day. Its smallcap counterpart climbed up 1.2 percent. Analysts expect volatility to continue ahead of the expiry of monthly futures & options contracts due on Thursday.

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