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    Stock Market Highlights: Sensex ends 435 pts lower, Nifty50 gives up 18,000; HDFC twins take a breather

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    Stock Market Highlights: Sensex ends 435 pts lower, Nifty50 gives up 18,000; HDFC twins take a breather

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    Stock Market Highlights: Indian equity benchmarks BSE Sensex and NSE Nifty50 snapped a two-day winning run on Tuesday amid cautious gains across most global markets. Losses in financial shares dragged the headline indices lower, though gains in auto, consumer, metal and oil & gas stocks limited the downside. HDFC and HDFC Bank shares fell around 2-3 percent, a day after the news of a merger between the two sent the stocks making their biggest jump in 13 years. Broader markets managed to hold on to the green throughout the day. The Nifty Midcap 100 index finished the day 1.4 percent higher and the Nifty Smallcap 100 gained 0.9 percent. Globally, investors remained on the back foot tracking updates about the Russia-Ukraine war, which is in its sixth week. 

    Stock Market Highlights: Sensex ends 435 pts lower, Nifty50 gives up 18,000; HDFC twins take a breather
    • Thank you, readers! That's all from CNBCTV18.com's live market coverage on April 5, 2022. Stay tuned for other updates on our website: CNBCTV18.com.

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

    • ITC protected from anything inflationary: Anand Tandon 

      Market expert Anand Tandon has a positive view on ITC, a stock he believes to be protected from anything inflationary. "It has done most of whatever it needed to do in terms of investments in hotels. It can continue to do some more FMCG but I am hoping it will be able to improve its FMCG margins... Overall, at a time when cash flow will be at a premium, this is a company that should do reasonably well," he says. 

      "Earnings (growth rates) are likely to be around 14-15 percent over the next couple of years at least. I don’t see too many challenges in terms of valuation either. It is probably one of the better consumer businesses that you want to own," Tandon adds.

    • European stocks edge higher; US futures flat

      European shares edge higher at the last count. The pan-European Stoxx 600 index up 0.3 percent, led by oil, industrial, technology and insurance stocks.

      The euro claws back a sliver of the 1.8 percent it had lost against the dollar in the past few days. 

      --S&P 500 futures flat

      --Crude oil rises as new Russia sanctions prepared in US, Europe; Brent up 0.9 percent at $108.5 a barrel

    • Rupee ends higher at 75.32 vs US dollar

      The rupee finishes the day stronger at 75.32 against the greenback. On Monday, it had settled at 75.54.

      Anindya Banerjee, VP-Currency and Interest Rate Derivatives at Kotak Securities, expects higher volatility in the second half of the week. He sees the rupee moving within a range of 75-75.80 in the spot market in the near term.

      Stock Market Highlights: Sensex ends 435 pts lower, Nifty50 gives up 18,000; HDFC twins take a breather
    • Market At Close | Financial stocks pull Sensex, Nifty lower; Nifty Bank near day’s low

      Here are some highlights: 

      --Midcap outperformance keeps market breadth in favour of advances

      --Except PNB, all Nifty Bank constituents in the red

      --HDFC group stocks see profit booking following Monday’s jump

      --HDFC Bank, Kotak Bank, ICICI, SBI top contributors to market fall

      --Adani Enterprises, Adani Power, Adani Ports rise 3-10 percent

      --Power stocks jump in last hour of trade; Tata Power up 9 percent

      --Power-exposed stocks rise; Polycab, Havells top gainers

      --AC stocks rise on price hike reports; Voltas, Blue Star up over 2 percent

      --HDFC twins, Bajaj twins, Kotak Bank, IndusInd top Nifty losers

      --Adani Ports, NTPC, Power Grid, Tata Motors, ONGC, Tata Consumer top Nifty gainers

      --Diagnostic stocks rise; Metropolis up 7 percent

      --Cement stocks gain on reports of price hike; JK Cement up 5 percent

      --Market breadth favours bulls; advance-decline ratio at 5:2

      Stock Market Highlights: Sensex ends 435 pts lower, Nifty50 gives up 18,000; HDFC twins take a breather
    • Market At Close | Adani Ports, NTPC, Tata Motors, Power Grid, Tata Consumer top blue-chip gainers

      ONGC, Eicher, ITC, Grasim and UPL also among the top gainers. 

      On the other hand, the HDFC twins, the Bajaj twins, Kotak Mahindra Bank and IndusInd the worst hit among the 24 laggards in the Nifty50 pack. 

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

      Stock Market Highlights: Sensex ends 435 pts lower, Nifty50 gives up 18,000; HDFC twins take a breather
    • Closing Bell | Sensex falls 435 points, Nifty50 slides to 17,957 as market snaps 2-day winning run

      The Sensex finishes the session 435.2 points or 0.7 percent lower at 60,176.5 and the Nifty50 settles at 17,957.4, down 96 points or 0.5 percent from its previous close.  Losses in financial shares drag the headline indices lower, though gains in auto, consumer, metal and oil & gas stocks limit the downside. (Read more on closing bell)

    • HDFC-HDFC Bank merger good news for Indian banking industry: Rupen Rajguru

      Rupen Rajguru of Julius Baer tells CNBC-TV18 the mega merger is good news for the country's banking industry. "With this merger, at a big picture level, the growth which was ailing on the overall banking side will come back... Definitely, they will have their own set of challenges. But at an overall level from an Indian banking industry perspective, we believe this is definitely good news. We would refrain from commenting on individual stocks," he says. 

      Rajguru also says the auto sector was facing headwinds even before the pandemic. He is of view that the auto space is in for a little bit of cyclical upturn. "Commercial vehicle (CV) as a space is something that we like. Between two-wheelers and passenger vehicles, we are more positive on PVs. Within PVs, we will look into a conglomerate that has a presence into tractors as well as UVs. That will be our pecking order," he says. 

      He also likes ancillaries that are to some extent agnostic to EV disruptions. 

    • Mindtree to acquire 6.64% stake in US-based COPE Health Solutions

      Mindtree shares hold on to most of the day's gains. The stock rises as much as 2.7 percent to Rs 4,428.

      COPE Health Solutions works with health systems, health plans, medical groups and other healthcare organisations across the US to enable the transition to value-based care and payments, and to train and grow the health workforce needed to succeed with these new healthcare models, Mindtree says in a regulatory filing. 

      With the investment, Mindtree says it will be able to leverage the consulting, data analytics,
      and management capabilities of COPE Health Solutions to expand its provider and payer footprint, and drive growth in areas such as value-based care, population health management and connected health. 

    • IndiaMART shares jump with huge volume

      IndiaMART InterMESH shares surge with high volume after JM Financial retains a 'buy' rating on the stock with a target price of Rs 5,100.

      The IndiaMART stock gains as much as 6.4 percent to Rs 5,138.7.

      As Dalal Street enters the last hour of the session, a total of 48,000 IndiaMART shares change hands so far in the day as against a daily average of 13,000 in the past two weeks, exchange data shows.

    • Coforge, Kong Inc form strategic alliance for Cloud API services

      Coforge shares up 1.4 percent at Rs 4,573. Earlier in the day, the stock rose as much as 2.1 percent to Rs 4,604.5. 

    • Sensex, Nifty50 fail to make it to the green; VIX up 2.5%

      At 2 pm, the Sensex down 256.1 points or 0.4 percent at 60,355.6 and the Nifty50 at 17,994.6, down 58.9 points or 0.3 percent from its previous close. 

      Losses in financial stocks offsets gains in auto and consumer shares. 

      The India VIX -- also known as the fear index -- up 2.5 percent at 18.4. 

    • Nifty Pharma up 0.6%; Lupin off day's low

      Lupin says inspection at its Tarapur manufacturing facility by the US Food and Drug Administration (FDA) closed with four observations. The inspection was carried out between March 22 and April 4.

      In a separate development, Lupin says it is in a licensing pact with Alvion to commercialise cardiometabolic disease medicines in Southeast Asia. 

      Suven Pharma will acquire Hyderabad-based formulation company Casper Pharma for Rs 155 crore. The Suven stock rises as much as 3.1 percent to Rs 621 apiece on BSE. 

      Venkat Jasti of Suven Pharma tells CNBC-TV18 that the company expects multiple products to come  in through Casper Pharma. It has around 30 ANDAs planned for the next 18-24 months, he says. 

      Here's how the rest of the pharma basket is performing at this hour: 

      Stock Change (%)
      NATCOPHARM 3.6
      STAR 3
      AUROPHARMA 2.5
      GLENMARK 2
      LAURUSLABS 2
      PFIZER 1.5
      ALKEM 1.4
      APLLTD 1.3
      ZYDUSLIFE 1.1
      DRREDDY 1
      GRANULES 0.8
      ABBOTINDIA 0.7
      BIOCON 0.5
      SUNPHARMA 0.5
      IPCALAB 0.4
      DIVISLAB -0.2
      GLAND -0.2
      CIPLA -0.4
      LUPIN -0.6
      TORNTPHARM -1.2
    • CNBC-TV18 Exclusive | Sources say government likely to bring in LIC IPO by early May 

      The government is in touch with bankers and advisers for LIC's red herring prospectus (RHP), sources tell CNBC-TV18. It may offer to sell more than five percent in the proposed IPO, they say. 

      They also say global economic uncertainties are factored in and market volatility eased. 

      Stock Market Highlights: Sensex ends 435 pts lower, Nifty50 gives up 18,000; HDFC twins take a breather
    • Buy Coforge, Godawari Power: Kush Bohra

      Kush Bohra of kushbohra.com shares two trading calls: 

      --Buy Coforge for a target of Rs 4,650 with a stop loss at Rs 4,500 

      --Buy Godawari Power and Ispat for a target of Rs 425 with a stop loss at Rs 407 

    • Buy Aurobindo Pharma, Coromandel: Mitessh Thakkar 

      Here re two trading calls from Mitessh Thakkar of earningwaves.com:

      --Buy Aurobindo Pharma for a target of Rs 725 with a stop loss at Rs 675 

      --Buy Coromandel International for a target of Rs 845 with a stop loss at Rs 810 

    • Zomato shares off day's low 

      Zomato shares down 2.6 percent at Rs 84, having declined as much as 4.7 percent to Rs 82.2 earlier in the day. 

      Fair trade regulator CCI has ordered a detailed probe against food delivery platforms Zomato and Swiggy for alleged unfair business practices with respect to their dealings with restaurant partners. The order follows a complaint filed by the National Restaurant Association of India (NRAI).

      Zomato said it will work closely with CCI for the investigation. All of its practices are in compliance with competition laws, the company said. (Read more)

      Stock Market Highlights: Sensex ends 435 pts lower, Nifty50 gives up 18,000; HDFC twins take a breather
    • Buy Hindalco Rs 600 strike call option, target Rs 25: Shubham Agarwal

      Shubham Agarwal, CEO and Head-Research at Quantsapp Advisory, suggests three options trading calls: 

      --Buy Hindalco Rs 600 strike call option for a target of Rs 25 with a stop loss at Rs 12

      --Buy Tata Chemicals Rs 1,020 strike call option for a target of Rs 44 with a stop loss at Rs 28

      --Buy Oberoi Realty Rs 1,000 strike call option for a target of Rs 48 with a stop loss at Rs 30

    • PV sales up 14% in FY22; two-wheeler, tractor segments under pressure: FADA

      Retail auto sales in the country increased seven percent on a year-on-year basis in FY22, according to the Federation of Automobile Dealers Association (FADA), a grouping of auto dealers. Total retail sales in March declined three percent compared with the corresponding period a year ago, and 30 percent compared with March 2020, according to FADA.

      Here are some highlights:

      Total retail sales down 25 percent in FY22 vs FY20

      PV sales up 14 percent on year in FY22

      FADA says no signs of recovery in auto space, demand for PVs strong but supply crunch persists (Read more)

    • Nazara Tech arm to invest $2.5 million in US-based BITKRAFT Ventures 

      Nazara Technologies shares rise as much as 2.7 percent to Rs 1,721.

    • M&A, consolidation trend has been playing out for a while: Rana Gupta on HDFC-HDFC Bank merger

      Rana Gupta, Senior Portfolio Manager-India Equity Specialist at Manulife Investment Management, believes the HDFC-HDFC Bank merger underlines the significance of stability on the books. He says that the trend of mergers and acquisitions, and consolidation has been playing out for a while. "We could see more of it," he says. 

      Large NBFCs also need a solid funding franchise or low cost deposits, he says. "What it highlights is that for the financial sector, both the low cost deposits and long duration asset books are important. Going forward, we would see that the competition for low cost deposit to rise and outside this merger, even some of the other deals that have happened in the financial space also show that the long duration asset like mortgages are there and also the companies are focusing on high yielding short-term businesses like credit cards, and something like wealth management. Tese are the areas where we could see a lot of focus for from the corporates going forward," Gupta adds. 

    • How JC Parets views HDFC Bank, ICICI Bank shares now

      JC Parets of All Star Charts likes ICICI Bank, and wants to be long on HDFC Bank if it is above Rs 2,500 for a target near Rs 4,000. "If one is working, the other one is likely to work also... If we are above the early 2020 highs, that is the pre-COVID highs, we want to be long," he says. 

      Speaking on ICICI Bank, he says: "There is an ADR that trades in the US... We have been talking to our clients all over the world about buying ICICI Bank; not just our Indian investors but investors around the world have exposure to this particular bank," he says. 

      If ICICI Bank shares are above Rs 730, he suggests a long for a target of Rs 1,000.

    • Buy Tech Mahindra, Maruti Suzuki, Asian Paints: Rahul Mohindar 

      Rahul Mohindar of viratechindia.com shares three trading calls: 

      --Buy Tech Mahindra for a target price of Rs 1,560 with a stop loss at Rs 1,495 

      --Buy Maruti Suzuki for a target of Rs 8,150 with a stop loss at Rs 7,700 

      --Buy Asian Paints for a target of Rs 3,200-3,210 with a stop loss at Rs 3,080 

    • Nifty Consumer durables top gainer among NSE's sectoral indices; financial services gauge slides 1%

      Index Change (%)
      NIFTY CONSUMER DURABLES 1.3
      NIFTY AUTO 1.2
      NIFTY PSU BANK 0.9
      NIFTY FMCG 0.8
      NIFTY HEALTHCARE INDEX 0.8
      NIFTY PHARMA 0.7
      NIFTY MEDIA 0.6
      NIFTY IT 0.4
      NIFTY METAL 0.4
      NIFTY OIL & GAS 0.3
      NIFTY REALTY -0.4
      NIFTY BANK -0.9
      NIFTY PRIVATE BANK -0.9
      NIFTY FINANCIAL SERVICES -1.1
    • Grasim shares rise 1%

      Grasim shares recover overcome initial weakness. The stock up as much as 1.1 percent at Rs 1,697, after slipping to as low as Rs 1,670.4 earlier in the day. 

      Stock Market Highlights: Sensex ends 435 pts lower, Nifty50 gives up 18,000; HDFC twins take a breather
    • Like HDFC, ICICI Bank, Axis Bank, SBI, time to avoid small banks, NBFCs: Dipan Mehta

      Elixir Equities Director Dipan Mehta is of the view that small banking names as well as NBFCs should be gradually discarded from the portfolio and replaced with HDFC, ICICI Bank, Axis Bank and SBI. "AU Small Finance Bank is perhaps the only bank with growth rates higher than HDFC Bank's... Within the banks and NBFCs, it is extremely clear that 100 percent of portfolio allocation has to be in the top three banks. You could add SBI for getting the PSU flavour in there," he says. 

      He likes Bajaj Finance on the NBFC side. "No point looking at the likes of CSB, RBL and Bandhan Bank," he adds. 

    • Rupee opens flat at 75.55 vs US dollar

      The rupee begins the day at 75.55 against the greenback. On Monday, it had settled at 75.54.

      Stock Market Highlights: Sensex ends 435 pts lower, Nifty50 gives up 18,000; HDFC twins take a breather
    • Nifty50 could face challenges on achieving 18-19% earnings growth: Vetri Subramaniam

      Vetri Subramaniam of UTI Asset Management tells CNBC-TV18 that he expects consumer-facing businesses to face downgrades. He is of the view that commodity producers could do well. 

      He says the country's financial and banking system, dominated by 8-9 lenders, is looking good. He believes the merger of HDFC and HDFC Bank is logical but is unsure whether there will be more consolidation in the space. 

    • Large Trade | SBI Cards shares worth Rs 2,672 crore change hands    

       As many as 3.1 crore SBI Cards and Payment Services shares -- equivalent to 3.3 percent of the company's equity -- change hands. 

      SBI Cards shares fall as much as 4.7 percent to Rs 835.5.

      Stock Market Highlights: Sensex ends 435 pts lower, Nifty50 gives up 18,000; HDFC twins take a breather
    • HDFC twins cool off after Monday's surge

      The HDFC twins -- HDFC and HDFC Bank -- drop nearly two percent, following Monday's surge after the companies announced a merger. HDFC shares decline as much as 1.7 percent to Rs 2,632.2 and the HDFC Bank stock as much as two percent to Rs 1,624. (Read more on HDFC-HDFC Bank merger)

    Stock Market Highlights
    : Indian equity benchmarks BSE Sensex and NSE Nifty50 snapped a two-day winning run on Tuesday amid cautious gains across most global markets. Losses in financial shares dragged the headline indices lower, though gains in auto, consumer, metal and oil & gas stocks limited the downside. HDFC and HDFC Bank shares fell around 2-3 percent, a day after the news of a merger between the two sent the stocks making their biggest jump in 13 years. Broader markets managed to hold on to the green throughout the day. The Nifty Midcap 100 index finished the day 1.4 percent higher and the Nifty Smallcap 100 gained 0.9 percent. Globally, investors remained on the back foot tracking updates about the Russia-Ukraine war, which is in its sixth week.

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