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    Stock Market Highlights: Sensex ends 575 pts lower, Nifty below 17,650 ahead of RBI policy; HDFC twins, Titan fall 2-3%

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    Stock Market Highlights: Sensex ends 575 pts lower, Nifty below 17,650 ahead of RBI policy; HDFC twins, Titan fall 2-3%

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    Stock Market Highlights: Indian equity benchmarks BSE Sensex and NSE Nifty50 extended losses to a third straight day on Thursday tracking weakness across global markets. Losses across financial, oil & gas, auto, IT and metal shares pulled the headline indices lower though gains in pharma stocks lent some support. Broader markets slipped into the red in the second half of the session, with the Nifty Midcap 100 finishing the day one percent lower and the Nifty Smallcap 100 declining 0.3 percent. Minutes of the Fed's last policy meeting brought investors' focus back to the prospect of aggressive tightening of COVID-era monetary policies. News flow on the Russia-Ukraine war remained on investors' radar. The outcome of the RBI's first policy review of FY23 is due on Friday.

    Stock Market Highlights: Sensex ends 575 pts lower, Nifty below 17,650 ahead of RBI policy; HDFC twins, Titan fall 2-3%
    • Thank you, readers! That's all from CNBCTV18.com's live market coverage on April 7, 2022. Stay tuned for other updates on our website: CNBCTV18.com.

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    • RBI may not hike rates on Friday: Ambareesh Baliga

      Market expert Ambareesh Baliga is of the view that the RBI may not increase rates on Friday. "I just hope it doesn't become like fuel prices that you just hold on for long and then you have aggressive increases. I just hope that doesn't happen at the RBI, and it look at doing it gradually starting from tomorrow," he says. 

      Stock Market Highlights: Sensex ends 575 pts lower, Nifty below 17,650 ahead of RBI policy; HDFC twins, Titan fall 2-3%
    • Rupee ends lower at 75.96 vs US dollar ahead of MPC meet outcome

      The rupee finishes the day at 75.96 against the greenback. On Wednesday, it had settled at 75.76.

      Stock Market Highlights: Sensex ends 575 pts lower, Nifty below 17,650 ahead of RBI policy; HDFC twins, Titan fall 2-3%
    • Market At Close | HDFC twins extend losses; IT stocks fall ahead of earnings season

      Here are some highlights: 

      --HDFC Bank, HDFC fall for 3rd straight day, erase gains seen post-merger announcement

      --IT stocks continue to decline ahead of earnings; Nifty IT down 1 percent

      --Titan slips 3 percent, Godrej Consumer rises 4 percent following Q4 updates

      --Nifty Bank relatively outperforms; Axis Bank, ICICI Bank top gainers

      --Escorts, IDFC, Nalco, Tata Power, Nippon Life top midcap losers

      --Zee Entertainment slips 5 percent from day’s high following stake sale by Invesco

      --Defence cos rise; BEL gains 7 percent on new list of indigenous equipment

      --Market breadth in favour of bears; advance-decline ratio at 4:5

      Stock Market Highlights: Sensex ends 575 pts lower, Nifty below 17,650 ahead of RBI policy; HDFC twins, Titan fall 2-3%
    • Adani Ports, Titan, HDFC twins, ONGC, TCS top blue-chip laggards

      Wipro, PowerGrid, Reliance Industries, Bharti Airtel and Larsen & Toubro also among the top losers. On the other hand, Axis Bank, Divi's, Hindustan Unilever, ICICI Bank, Dr Reddy's Tech Mahindra and Mahindra & Mahindra rise the most among the 22 gainers in the Nifty50 basket. 

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

      Here's what the 30-scrip pack looks like:

      Stock Market Highlights: Sensex ends 575 pts lower, Nifty below 17,650 ahead of RBI policy; HDFC twins, Titan fall 2-3%
    • Closing Bell | Sensex down 575 pts, Nifty50 slides below 17,650 ahead of RBI policy

      The Sensex finishes the day 575.5 points or one percent lower at 59,035 and the Nifty50 settles at 17,639.6, down 168.1 points or 0.9 percent from its previous close -- both extending gains to the third day in a row. Heavyweights such as the HDFC twins, TCS and Infosys the biggest drags on both headline gauges. 

    • Bullish on logistics space: Viraj Mehta

      Viraj Mehta, Managing Director-PMS at Equirus, is "absolutely bullish" on the overall logistics space. "We do own a logistics company; we don't own VRL but another logistics company. In the last two years, a lot of the smaller logistic players have got completely wiped out in terms of the ability to maintain the fleet and to completely get the full load at the truck level, which means the margins have been hit for some of the smaller surface express providers... That has meant that the larger guys like TCI and Gati, which will be able to maintain higher yields, would mean and translate into higher gross margins," he says. 

      "I am absolutely certain that some of these larger pan-India players will keep taking market share from some of the smaller guys, and the opportunity here is absolutely immense. If you pick up a good guy with reasonable visibility, SME and retail penetration, and small key accounts, this can be an extremely profitable space for the company as well as investors with a 3-4 year view," he adds. 

      Mehta likes both TCI and Gati but will own the latter at the fund level.

    • Ukraine seeks 'long-term solutions' to help it win war with Russia

      Ukrainian Foreign Minister Dmytro Kuleba says his country is seeking "long-term solutions" to help it win the war with Russia. "I came here today to discuss three most important things: weapons, weapons and weapons. Ukraine’s urgent needs, the sustainability of supplies, and long-term solutions which will help Ukraine to prevail," Kuleba wrote in a tweet which he said was sent from NATO headquarters in Brussels.

      Catch latest from CNBCTV18.com's coverage of Russia-Ukraine war

    • Nothing attractive in midcaps: Deven Choksey

      Deven Choksey of KRChoksey is of the view that there is nothing attractive in the midcap segment at the current juncture. "Though some of the valuations have corrected from the peak, I wouldn't say that they've become quite attractive," he says.

      They may have corrected from premium valuations to slightly premium valuations but are not something worth buying, he says. 

    • IRCTC shares under pressure for 2nd day 

      Indian Railway Catering & Tourism Corp (IRCTC) shares remain under pressure for a second straight day amid reports that the government is working on an offer for sale (OFS) to trim its holding in the company.

      CNBC-TV18 has learnt that the government is likely to sell a 3.5 percent stake in IRCTC to raise nearly Rs 3,000 crore through the OFS. The government holds more than 67 percent in the Indian Railways arm. (Read more on IRCTC shares)

    • RBI Policy | Rate-sensitive stocks mixed ahead of MPC meet outcome

      Stock Change (%) Stock Change (%)
      PEL 3.3 BOSCHLTD -0.1
      AXISBANK 2.2 OBEROIRLTY -0.3
      ICICIPRULI 2.1 MUTHOOTFIN -0.4
      ICICIGI 2 BAJAJ-AUTO -0.4
      PHOENIXLTD 1.4 BALKRISIND -0.5
      BRIGADE 1.4 RECLTD -0.6
      ICICIBANK 1.1 IBREALEST -0.6
      ASHOKLEY 1 GODREJPROP -0.7
      DLF 0.9 KOTAKBANK -0.7
      SUNTECK 0.8 MRF -0.7
      SRTRANSFIN 0.7 BAJFINANCE -0.8
      SOBHA 0.7 BAJAJFINSV -0.9
      M&M 0.6 MARUTI -1
      PFC 0.5 TATAMOTORS -1.2
      EICHERMOT 0.4 TIINDIA -1.5
      SBICARD 0.3 TVSMOTOR -1.6
      PRESTIGE 0.3 HDFCAMC -1.8
      BHARATFORG 0.3 CHOLAFIN -1.9
      LODHA 0.2 HDFCBANK -2.2
      SBIN 0.2 SONACOMS -2.5
      SBILIFE 0 HDFC -2.7
      HEROMOTOCO 0 ESCORTS -8.2
      HDFCLIFE 0    
    • Nifty50 below 5 DMA

      The Nifty50 down 165 pts at 17,643 as the market enters the last hour of trade. At this level, the 50-scrip benchmark is 186 points below its five-day simple moving average. 

      It is, however, more than 500 points above its 200-day level. 

      Period (No. of days) Simple moving average Signal
      5 17,828.9 Bearish
      10 17,580.8 Bullish
      20 17,286.6 Bullish
      50 17,133 Bullish
      100 17,309.5 Bullish
      200 17,120.9 Bullish
    • HDFC twins continue to slide for 3rd day, give up most of merger announcement day gains

      Housing Development Finance Corporation (HDFC) and HDFC Bank shares continue to decline for the third session in a row, giving up nearly all of their gains on Monday after the financial services majors announced a merger between them.

      HDFC shares fall by as much as Rs 70.5 or 2.8 percent to Rs 2,515 apiece. The HDFC Bank stock drops by Rs 33.8 or 2.2 percent to Rs 1,517.1.

      On Monday, the announcement of the merger had triggered a jump of almost 10 percent in the stocks -- their biggest intraday gains in 13 years.

      Stock Market Highlights: Sensex ends 575 pts lower, Nifty below 17,650 ahead of RBI policy; HDFC twins, Titan fall 2-3%
    • Like economic recovery theme for next 12 months: Unmesh Sharma

      Unmesh Sharma, Head-Institutional Equities at HDFC Securities, likes the domestic economic recovery theme for the next 12 months. "We continue to be positive on economic-facing sectors, which we went positive on about six months ago: industrials, power and real estate," he says. 

      He also likes the urban low ticket growth theme. "To a large extent, driven by the fact that there is significant growth in the IT sector, local low ticket consumption plus real estate in relevant markets is something that we like," he adds. 

    • RBI to announce outcome of first policy review of FY23 on Friday

    • Buy Alembic Pharma, Balrampur Chini: Himanshu Gupta

      Here are two trading calls from Himanshu Gupta of Globe Capital:

      --Buy Alembic Pharma for a target of Rs 815-820 with a stop loss at Rs 765 

      --Buy Balrampur Chini for a target of Rs 550 with a stop loss at Rs 505 

    • L&T Construction wins orders up to Rs 2,500 crore

      Construction major Larsen & Toubro (L&T) says it has received significant orders for its various businesses. The conglomerate classifies orders to the tune of Rs 1,000 crore-2,500 crore as significant. 

      L&T shares down 1.4 percent at Rs 1,826.7 in afternoon deals, not far from an intraday low of Rs 1,822.1.

    • Steel better placed among metals, falling coking coal prices to benefit Indian cos: Pinakin Parekh

      Pinakin Parekh, ED-Oil & Gas-Metal Research at JPMorgan India, tells CNBC-TV18 that in his view, steel companies will continue to generate better cash flows going forward. Steel is better placed among metals owing to better spreads.

      He expects Indian steel companies to benefit from falling coking coal prices.

      "When we look at all the commodities, steel still stands out in a relatively better way, because the next spread increase, which is the price increase minus the raw material cost increase in coking coal, is still positive," he explains. (Read more)

      Stock Market Highlights: Sensex ends 575 pts lower, Nifty below 17,650 ahead of RBI policy; HDFC twins, Titan fall 2-3%
    • Buy MCX crude oil futures on dips, target Rs 8,050: Amit Sajeja

      Amit Sajeja, VP-Technical Commodities and Currencies Analyst-Commodities at Motilal Oswal Financial Services, recommends buying the April contract at Rs 7,550 for a target of Rs 8,050 with a stop loss at Rs 7,300. "The trend in MCX crude oil remains positive as long as it holds above immediate support at Rs 7,400 mark. Momentum indicator RSI is holding above the 50 mark, which is likely to provide support. Buying on dips is advised targeting the Rs 7,900-8,050 zone," he tells CNBCTV18.com. 

      Stock Market Highlights: Sensex ends 575 pts lower, Nifty below 17,650 ahead of RBI policy; HDFC twins, Titan fall 2-3%
    • Buy BEL, Cipla: Jay Thakkar

      Jay Thakkar of Marwadi Shares & Finance shares two trading calls: 

      --Buy BEL for a target of Rs 260-275 with a stop loss at Rs 220 

      --Buy Cipla for a target of Rs 1,100-1,140 with a stop loss at Rs 1,010 

    • Lupin completes acquisition of portfolio of brands from Anglo-French Drugs & Industries

      Lupin shares left with a gain of one percent at Rs 780.5 apiece. Earlier on Thursday, the drug maker's stock had gone up as much as 1.8 percent to Rs 1.8 percent to Rs 786.9. 

    • Maruti Suzuki begins bookings for next-gen Ertiga

      Maruti Suzuki shares recover most of the day's losses. The stock down 0.3 percent at Rs 7,724 apiece around noon, having declined as much as 1.6 percent earlier in the day. 

      Stock Market Highlights: Sensex ends 575 pts lower, Nifty below 17,650 ahead of RBI policy; HDFC twins, Titan fall 2-3%
    • We are in the middle of a perfect storm right now: Sumit Kishore

      Sumit Kishore of Axis Capital tells CNBC-TV18 that the availability of coal at the end of March was the lowest in a decade. Domestic coal-based power generation  has been strong and coal-based capacities unlikely to shut down, he adds. 

    • Godrej Properties extends arrangements with Shivam Realty for residential project

      Godrej Properties shares rise as much as one percent to Rs 1,698.9 apiece. 

      Godrej Properties says it has extended its existing arrangements with Shivam Realty to develop a residential group housing project, off the Akurli crossroad in Hanuman Nagar in Kandivali East.

      The project is an extension of Godrej Tranquil and Godrej Nest, and will offer approximately seven lakh square feet of saleable area, according to a regulatory filing. 

    • About 7-8% below consensus in terms of Nifty EPS: Sunil Tirumalai

      Sunil Tirumalai, ED and India Strategist at UBS, is of the view that consensus EPS estimates for FY23 have actually held up quite well in spite of inflationary pressure. "There are parts of the Nifty EPS that also benefit from inflation pressure. A lot of the commodity-linked stocks have actually been holding up. At the aggregate level, more and more stocks are seeing cuts," he says.

      "We are about 7-8 percent below consensus in terms of Nifty EPS. But going forward, with the inflationary pressure and many companies talking about pricing power not being to the extent that you need to pass on the full cost or commodity costs, there is a risk of earnings downgrade ahead of us," he adds. 

    • Fed members seem to be becoming more concerned about inflation: Abhilash Narayan

      Abhilash Narayan, Senior Investment Strategist-Group Wealth Management at Standard Chartered Singapore, tells CNBC-TV18 that US central bank members, in his view, seem to be becoming more concerned about inflation. He expects equity markets to stay choppy. Historically, the US dollar weakens for six months after the first rate hike, he says. 

      Narayan believes that largecap stocks in India are better positioned to absorb volatility. The pandemic, he feels, is unlikely to cause widespread lockdowns with the exception of China.

    • IT stocks fall ahead of Q4 earnings; HCL Tech bucks the trend

      Here's what the IT basket looks like in late morning deals: 

      Stock Change (%)
      HCLTECH 0.4
      TECHM -0.2
      MPHASIS -0.4
      MINDTREE -0.5
      INFY -0.7
      COFORGE -1.1
      LTTS -1.1
      LTI -1.1
      TCS -1.1
      WIPRO -1.6

      TCS will kick off the corporate earnings season next week. The country's largest IT company will report its financial results for the January-March quarter on April 11.

      Infosys is slated to post its Q4 earnings on April 13 and Wipro on April 29. 
    • Nifty IT down 0.8%, top loser among NSE's sectoral gauges

      The Nifty Realty the top gainer, up 1.4 percent. 

      Here's how other sectoral gauges are performing at this hour:

      Index Change (%)
      NIFTY CONSUMER DURABLES -0.7
      NIFTY METAL -0.6
      NIFTY FINANCIAL SERVICES -0.5
      NIFTY AUTO -0.3
      NIFTY BANK -0.1
      NIFTY OIL & GAS 0
      NIFTY PRIVATE BANK 0
      NIFTY MEDIA 0.5
      NIFTY FMCG 0.7
      NIFTY PHARMA 0.7
      NIFTY PSU BANK 0.8
      NIFTY HEALTHCARE 0.8
    • Buy NMDC, Aditya Birla Fashion, Siemens: Ashish Chaturmohta

      Here are four trading calls from Ashish Chaturmohta, Director-Research at Sanctum Wealth Management:

      --Buy NMDC for a target of Rs 185 with a stop loss at Rs 166 

      --Buy Aditya Birla Fashion Retail for a target of Rs 340 with a stop loss at Rs 307 

      --Buy Siemens for a target of Rs 2,530 with a stop loss at Rs 2,430 

      --Sell Wipro for a target of Rs 560 with a stop loss at Rs 610 

    • Buy Sudarshan Chemical, HAL: Shrikant Chouhan 

      Shrikant Chouhan of Kotak Securities shares two trading calls: 

      --Buy Sudarshan Chemical Industries for a target of Rs 600-620 with a stop loss at Rs 530 

      --Buy Hindustan Aeronautics for a target of Rs 1,750-1,800 with a stop loss at Rs 1,550 

    Stock Market Highlights
    : Indian equity benchmarks BSE Sensex and NSE Nifty50 extended losses to a third straight day on Thursday tracking weakness across global markets. Losses across financial, oil & gas, auto, IT and metal shares pulled the headline indices lower though gains in pharma stocks lent some support. Broader markets slipped into the red in the second half of the session, with the Nifty Midcap 100 finishing the day one percent lower and the Nifty Smallcap 100 declining 0.3 percent. Minutes of the Fed's last policy meeting brought investors' focus back to the prospect of aggressive tightening of COVID-era monetary policies. News flow on the Russia-Ukraine war remained on investors' radar. The outcome of the RBI's first policy review of FY23 is due on Friday.

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