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    Stock Market Highlights: Sensex ends 483 pts lower, Nifty gives up 17,700; Nifty IT falls over 1% ahead of TCS results

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    Stock Market Highlights: Sensex ends 483 pts lower, Nifty gives up 17,700; Nifty IT falls over 1% ahead of TCS results

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    Stock Market Highlights: Indian equity benchmarks BSE Sensex and NSE Nifty50 started the week in the red tracking weakness across global markets amid persistent geopolitical tensions and concerns about aggressive rate hikes. Losses in financial and IT shares pulled the headline indices lower, though gains in oil & gas and select metal shares lent some support. Broader markets finished the day on a mixed note, with the Nifty Midcap 100 rising 0.6 percent but its smallcap counterpart slipping 0.1 percent. Analysts awaited the onset of the corporate earnings season with Tata Consultancy Services (TCS) due to report its financial results for the March quarter later in the day.

    Stock Market Highlights: Sensex ends 483 pts lower, Nifty gives up 17,700; Nifty IT falls over 1% ahead of TCS results
    • Thank you, readers! That's all from CNBCTV18.com's live market coverage on April 11, 2022. Stay tuned for other updates on our website: CNBCTV18.com.

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    • Like power space: Hemang Jani 

      Hemang Jani of Motilal Oswal Financial Services likes the power space. "IEX is a related theme and being a monopolistic player with long way to go in terms of growth, people do prefer some of these companies... We think that this valuation and the market cap is something that we are not too comfortable with; we should let it cool off before really taking a fresh call on it," he says. 

    • Valuation comfort in largecap IT cos to some extent: Mithun Aswath 

      Mithun Aswath, Managing Partner at Kivah Advisors, sees valuation comfort in largecap IT companies to some extent. That is "even if they are able to grow in mid-teens over the next couple of years", he says.

      "However, with the expectation of some slowdown in the US with the Fed raising rates, that could hamper little bit of the expectations. One needs to be a little wary; let’s see what they say about guidance and then you will be able to gauge the sector trajectory once these results are out of the way. Some of the midcap IT companies are already discounting FY23 and FY24 earnings, and are quite expensive. If there is any non-delivery in performance, those could be subject to correction,” he says. 

    • IT sector to probably give some cushion in high input cost-high inflation environment: Gurmeet Chadha

      Gurmeet Chadha, Co-Founder and CEO of Complete Circle Consultants, is of the view that the IT space may not be defensive at the moment but probably gives investors some cushion in the current enviroment characterised with high input cost and high inflation. "If you look at TCS, any disappointment can be used as an opportunity. There are new areas emerging on technology; it's not just restricted to Cloud; There are new technology areas emerging. This is a more long-term trend in my view; any dip should be an opportunity," he says. 

    • Rupee ends lower at 75.95 vs US dollar

      The rupee finishes the day at 75.95 against the greenback. On Friday, it had settled at 75.90.

      Stock Market Highlights: Sensex ends 483 pts lower, Nifty gives up 17,700; Nifty IT falls over 1% ahead of TCS results
    • Market At Close | Midcap stocks continue to outperform Sensex, Nifty50

      Here are some highlights: 

      --IT, HDFC twins remain major drag on market; HCL Tech, Infosys top losers

      --Cement stocks see major gains; Ambuja rises 7 percent, ACC 3 percent

      --IT stocks under pressure ahead of earnings; Nifty IT drops 1.4%

      --Hindustan Aeronautics Rises 4 percent after co announces ISRO order

      --Oberoi Realty, Sun TV, Torrent Power, Bata, NBCC top midcap gainers

      --Persistent, L&T Tech, GNFC, Pidilite, Vodafone Idea top midcap losers

      --Paytm amongst top gainers, up 12 percent

      --Market breadth favours bulls; advance-decline ratio at 5:4

      Stock Market Highlights: Sensex ends 483 pts lower, Nifty gives up 17,700; Nifty IT falls over 1% ahead of TCS results
    • Market At Close | HCL Tech, L&T, Infosys, Wipro, SBI Life, Asian Paints top blue-chip laggards

      The HDFC twins, Tata Steel, Hero MotoCorp and Dr Reddy's also among the top losers. On the other hand, Grasim, Adani Ports, Cipla, Apollo Hospitals, JSW Steel, UPL and BPCL rise the most among the 21 gainers in the Nifty50 basket. 

      Here's how the 30-scrip pack fares at the close: 

      Stock Market Highlights: Sensex ends 483 pts lower, Nifty gives up 17,700; Nifty IT falls over 1% ahead of TCS results
    • Closing Bell | Sensex down 483 pts, Nifty50 gives up 17,700

      The Sensex finishes the day down 482.6 points or 0.8 percent at 58,964.6 and the Nifty50 settles at 17,675, down 109.4 points or 0.6 percent from its previous close. (Read more on the closing bell)

    • Intellects bags contract from VPBank, Vietnam for digitisation services

      Intellect Global Transaction Banking (iGTB) announced that Hanoi-headquartered VPBank has signed a major transformative deal to digitize and streamline its transaction banking offerings. For Intellect, this deal marks the tenth key digital banking transformation deal in Vietnam.

    • Tatva Chintan gains as Investec starts coverage with 'buy' call

      The share price of chemical player Tatva Chintan Pharma Chem rose more than 2 percent in the morning trade on April 11 after brokerage firm Investec initiated coverage on the stock with a “buy” rating and a target of Rs 2,740 a share.

    • Glenmark Pharma shares gain on DCGI nod to clinical trial of 'novel' small molecule

      Glenmark Pharmaceuticals' share price gained over a percent intraday on April 11 after the company received the approval of the Drug Controller General of India (DCGI) for a Phase 1 clinical trial of a "novel" small molecule.

    • Buy Laurus Labs, Greaves Cotton: Kush Bohra

      Here are two trading calls from Kush Bohra of kushbohra.com:

      --Buy Laurus Labs for a target of Rs 625 with a stop loss at Rs 595 

      --Buy Greaves Cotton for a target of Rs 220 with a stop loss at Rs 198 

    • Paytm at day's high, up nearly 11% 

    • Business Update | Concor Q4 volumes up 0.9% at 10.68 lakh 20-foot equivalent units

      Container Corp shares down 0.2 percent at Rs 703.8, having gyrated within a range of Rs 701.2-710.9 earlier on Monday. 

       
    • 10-year yield climbs further; here’s what is bothering the bond market

      India's 10-year bond yield rise by a further six points to a new three-year high of 7.18 percent, on top of a 20-bps jump after RBI announcements last Friday. 

      It is a double whammy for the bond market as US yields have risen to 2.77 percent -- a three-year high. (Read more)

    • KKR to buy 9.99% stake in Shriram General Insurance: Bloomberg

    • Nifty Auto up 0.2% 

      What the auto basket looks like at this hour:

      Stock Change (%)
      TIINDIA 4
      ASHOKLEY 1.2
      TATAMOTORS 0.6
      BOSCHLTD 0.4
      M&M 0.3
      EICHERMOT 0.3
      TVSMOTOR 0.1
      MARUTI 0.1
      MRF 0
      BAJAJ-AUTO -0.2
      SONACOMS -0.3
      BALKRISIND -0.4
      BHARATFORG -0.6
      HEROMOTOCO -0.6
      ESCORTS -1.7
    • M&M ended FY22 with 40% market share, co expects to hold on to market share with new launches: Hemant Sikka

      Hemant Sikka of Mahindra & Mahindra tells CNBC-TV18 that M&M finished FY22 with market share of 40 percent. He says the company expects to hold on to market share gains with its launches. 

      March turned out to be a weak month for the entire auto industry, he adds.

      The company expects a good agricultural season ahead, according to Sikka. 

      Commodity prices have been on a tear in the last 18 months, and the company intends to take more price hikes this year following three increases last year, he says. 

    • Buy India Cements, United Spirits: Prakash Gaba

      Prakash Gaba of prakashgaba.com shares two stock recommendations: 

      --Buy United Spirits for a target of Rs 930 with a stop loss at Rs 908 

      --Buy India Cements for a target of Rs 240 with a stop loss at Rs 227 

    • Paytm shares jump

      Paytm parent One97 Communications' shares surge as much as 7.8 percent to Rs 665.5. At this level, the stock of the digital payments company has managed to rise 28 percent above a 52-week low of Rs 520 (March 23). 

      Paytm shares have hit a series of lows in the recent past since beginning their journey in the secondary market in November 2021. 

      Stock Market Highlights: Sensex ends 483 pts lower, Nifty gives up 17,700; Nifty IT falls over 1% ahead of TCS results
    • Godrej Industries announces launch of financial arm Godrej Capital 

      Godrej Industries shares rise as much as 2.2 percent to Rs 498.5 after the company announces the launch of its arm Godrej Capital, with the aim of scaling up its ambition in the financial services sector. Godrej Capital is the holding entity for Godrej Housing Finance and Godrej Finance.

      Godrej Industries has committed to invest capital of Rs 1,500 crore in Godrej Capital.

    • Buy Indian Oil, Kotak Mahindra Bank: Aditya Agarwala

      Aditya Agarwala of Yes Securities shares two trading calls: 

      --Buy Indian Oil for a target of Rs 140 with a stop loss at Rs 124 

      --Buy Kotak Mahindra Bank for a target of Rs 1,840-1,900 with a stop loss at Rs 1,760 

    • Glenmark Pharma gets regulator's nod for Phase 1 clinical trial of Novel Molecule GRC 54276 

      The compound treats solid tumors and Hodgkin’s Lymphoma.

    • VedantaITC, Cholamandalam, Bank of Baroda hit 52-week highs 

      Here are some of the other stocks that hit the milestone: 

      --Siyaram Silk

      --Raymond

      --ICRA

      --BEL

      --Minda Corp

    • CreditAccess Grameen shares hit 52-week high

      CreditAccess shares rise as much as 2.9 percent to Rs 949.9 apiece on BSE. According to a business update, the microfinance institution's gross loan portfolio increased 22.2 percent on a year-on-year basis to Rs 16,601 crore in March. Its collection efficiency stood at 95 percent excluding arrears and 96 percent including arrears.

      Disbursements stood at Rs 2,257 crore in March as against Rs 1,746 crore in the previous month, the company said.

    • D-Street Week Ahead | Earnings, macro data, FII flows likely to influence market

      Financial results, macroeconomic data and institutional fund flows will be in focus on Dalal Street in the holiday-truncated three-session week. With the RBI's bi-monthly review along expected lines, all eyes will be on incoming inflation data and the onset of the earnings season for domestic cues. (Read more on key factors likely to impact market this week)

      Stock Market Highlights: Sensex ends 483 pts lower, Nifty gives up 17,700; Nifty IT falls over 1% ahead of TCS results
    • Nifty Metal up 0.5%

      Here's what the metal basket looks like at this hour:

      Stock Change (%)
      APLAPOLLO 2.4
      JINDALSTEL 2.2
      RATNAMANI 1.6
      VEDL 1.6
      JSWSTEEL 1.4
      JSLHISAR 1.2
      HINDCOPPER 0.9
      HINDZINC 0.4
      ADANIENT 0.2
      SAIL 0.2
      TATASTEEL 0.1
      HINDALCO -0.3
      NMDC -0.7
      WELCORP -0.8
      NATIONALUM -1
    • Buy Tata Steel, expect 10% upside: Pritesh Mehta

      Pritesh Mehta of Yes Securities shares two trading calls: 

      --Sell Wipro for a target of Rs 540 with a stop loss at Rs 592 

      --Buy Tata Steel, see 10% rally ahead; metals the flavour of the month

    • Tata Steel acquires 32.6 crore shares of Tata Steel Mining for Rs 625 crore

      Tata Steel Mining will continue to be a wholly-owned subsidiary of Tata Steel.

      Tata Steel shares rise as much as 0.9 percent to Rs 1,383.9 apiece on BSE. 

    • Investors will have to keep Ruchi Soya in portfolio till news gets digested: Prakash Diwan

      Market expert Prakash Diwan is of the view that Ruchi Soya is a stock that investors will have to keep in the portfolio till all the news gets digested. "It's a company that is morphing very dramatically and it's been a wonderful opportunity for people to participate. But you will have to have a longer-term horizon, there is nothing that is going to happen just from a tactical perspective," he says. 

    Stock Market Highlights
    : Indian equity benchmarks BSE Sensex and NSE Nifty50 started the week in the red tracking weakness across global markets amid persistent geopolitical tensions and concerns about aggressive rate hikes. Losses in financial and IT shares pulled the headline indices lower, though gains in oil & gas and select metal shares lent some support. Broader markets finished the day on a mixed note, with the Nifty Midcap 100 rising 0.6 percent but its smallcap counterpart slipping 0.1 percent. Analysts awaited the onset of the corporate earnings season with Tata Consultancy Services (TCS) due to report its financial results for the March quarter later in the day.

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