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    Stock Market Highlights: Sensex ends 566 pts lower, Nifty50 gives up 17,850; HDFC Bank drops 4%, HDFC 3%

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    Stock Market Highlights: Sensex ends 566 pts lower, Nifty50 gives up 17,850; HDFC Bank drops 4%, HDFC 3%

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    Stock Market Highlights: Indian equity benchmarks BSE Sensex and NSE Nifty50 ended a volatile session nearly one percent lower on Wednesday, amid weakness across global markets as focus returned to the possibility of aggressive monetary policy tightening. Losses in financial and IT shares pulled the headline indices lower, though gains in metal and oil & gas counters limited the downside. Broader markets stayed in the green throughout the day, with the Nifty Midcap 100 index rising 0.6 percent and its smallcap counterpart edging up 0.1 percent. Investors globally awaited minutes of the FOMC's last policy meeting due later in the day, and kept an eye out on news updates about the Russia-Ukraine war.

    Stock Market Highlights: Sensex ends 566 pts lower, Nifty50 gives up 17,850; HDFC Bank drops 4%, HDFC 3%
    • Thank you, readers! That's all from CNBCTV18.com's live market coverage on April 6, 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

    • More upside in Tata Power: Mehraboon J Irani

      Market expert Mehraboon J Irani is bullish on Tata Power. He is of the view that despite the recent ramp-up, there is potential for more upside in the stock. He believes Tata Power has surprised the most optimist of market participants.

      "We need to understand and accept that maybe at least 50 percent below the current price, everybody was gung-ho on it and was saying that it is a great bet... Not many reasons were being spelled out... There are quite a few multiple levers as far as earnings are concerned," he says.

      Irani feels that the likely monetisation of the renewable energy business should definitely unlock value for Tata Power and deleverage its balance sheet. "There is potential tariff negotiation going on and the merger of coastal Gujarat Power with Tata Power should help the company reduce its tax outgo," he adds. 

    • HDFC-HDFC Bank merger has synergies, some risks from bank's perspective: Amit Gupta 

      Amit Gupta, VP and Fund Manager-PMS at ICICI Securities, is of the view that the proposed merger between HDFC and HDFC Bank has synergies but there are some risks from the bank's perspective. 

      “When HDFC will merge will HDFC Bank, in the Nifty alone, you will have a very good weight of HDFC Bank. If you look at it from a fund manager's perspective, are you going to give 10-11 percent weight to a single stock? HDFC has benefit of low cost of deposit of HDFC Bank but from HDFC Bank's perspective, its NIM was close to 4.2 percent and post-merger, it will come down to 3.8 percent. HDFC Bank's CASA is around 47 percent, which will come down to 35-36 percent," he says.

    • Business Update | Titan jewellery revenue down 4% in Q4; watches, wearables revenue up 12% 

      --Eyecare revenue up 5 percent

      --Net addition of 105 stores 

    • Rupee ends lower at 75.76 vs US dollar

      The rupee finishes the day at 75.76 against the greenback. On Tuesday, it had settled at 75.32.

      Stock Market Highlights: Sensex ends 566 pts lower, Nifty50 gives up 17,850; HDFC Bank drops 4%, HDFC 3%
    • Market At Close | Sensex, Nifty50 down nearly 1%

      Here are some highlights: 

      --HDFC Bank, HDFC drag market for 2nd day

      --Metal, power stocks rise; Coal India, NTPC top Nifty gainers

      --PSU banking stocks jump in last hour of trade; Nifty PSU Bank rises 2 percent

      --Indian Hotels, Tata Power, Vedanta, Bank of Baroda, Delta, JSPL, IDFC hit 52-week highs

      --IT stocks under pressure ahead of earnings; HCL, Tech Mahindra, Infosys down 2 percent

      --IRCTC falls 4 percent on reports of government selling over 3 percent via OFS

      --Marico slips 4 percent after co indicates low single-digit revenue growth in Q4

      --RBL Bank shares in the red but off day's low following Q4 update

      --Rain Industries slips 4 percent on partial shutdown of Visakhapatnam calciner plant

      --Yes Bank surges 16 percent with large volume

      --Midcap outperformance keeps market breadth in favour of bulls; NSE advance-decline ratio at 2:1

      Stock Market Highlights: Sensex ends 566 pts lower, Nifty50 gives up 17,850; HDFC Bank drops 4%, HDFC 3%
    • HDFC twins, HDFC Life, HCL Tech, Tech Mahindra top blue-chip laggards

      Infosys, TCS, Shree Cement, Divi's and Kotak Mahindra Bank also among the top losers. 

      On the other hand, Coal India, NTPC, Tata Steel, PowerGrid, BPCL, UPL and Nestle rise the most among the 20 gainers in the Nifty pack. 

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

      Stock Market Highlights: Sensex ends 566 pts lower, Nifty50 gives up 17,850; HDFC Bank drops 4%, HDFC 3%
    • Closing Bell | Sensex falls 566 points, Nifty drops to 17,808 as market extends losses to 2nd day

      The Sensex finishes the day down 566.1 points or 0.9 percent at 59,610.4 and the Nifty50 settles at 17,807.7, down 149.8 points or 0.8 percent from its previous close.  

    • JSW Steel declared preferred bidder for Ajgaon iron ore block in Maharashtra

      JSW Steel shares up by Rs 6.2 or 0.9 percent at Rs 739.5. 

    • Weather office IMD expects higher temperatures across northern India in April

      Stock Market Highlights: Sensex ends 566 pts lower, Nifty50 gives up 17,850; HDFC Bank drops 4%, HDFC 3%
    • Buy JSW Steel, UPL: Aditya Agarwala 

      Aditya Agarwala of Yes Securities shares two trading calls:

      --Buy JSW Steel for a target of Rs 770 with a stop loss at Rs 725 

      --Buy UPL for a target of Rs 841 with a stop loss at Rs 790 

    • TCS, HCL Tech, Tech Mahindra down 2%; Nifty IT down 1.6%

      The Nifty IT down 1.6 percent at 35,880.5, not far from its intraday low of 35,820.4. 

      Stock Change (%)
      LTI -0.5
      LTTS -0.5
      WIPRO -1
      MINDTREE -1.2
      INFY -1.6
      COFORGE -1.6
      TCS -1.6
      HCLTECH -2.1
      TECHM -2.3
      MPHASIS -3.8
    • BSE Oil & Gas index rose nearly 1 percent led by HPCL, IOC, Gujarat Gas

    • CLSA sees 155%/135% upside for ONGC/OIL

      According to CLSA, the rising LNG prices are hurting the volume, meanwhile, there was a monthly uptick in gas consumption but very weak quarterly trends. The gas consumption fell 5.9 percent YoY in February 2022. The brokerage sees domestic gas prices rising another 75 percent in October. It sees a 155 percent /135 percent upside for ONGC/OIL, which are the preferred buys in the sector.

    • Market Watch | Buy JSW Steel, UPL: Aditya Agarwala, Yes Securities

      - Buy JSW Steel with a stop loss of Rs 725 and a target of Rs 770

      - Buy UPL with a stop loss of Rs 790 and a target of Rs 841

    • Buy HDFC Life, Granules: Mitessh Thakkar

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

      --Buy HDFC Life for a target of Rs 570 with a stop loss at Rs 550 

      --Buy Granules for a target of Rs 335 with a stop loss at Rs 318.50 

    • Buy NMDC, Astral: Prakash Gaba

      Prakash Gaba of prakashgaba.com shares two trading calls: 

      --Buy NMDC for a target of Rs 175 with a stop loss at Rs 170 

      --Buy Astral for a target of Rs 2,080 with a stop loss at Rs 2,030 

    • Buy EIH Associated Hotels, target Rs 181: Ashish Kyal

      Ashish Kyal of Waves Strategy recommends buying EIH Associated Hotels shares for a target price of Rs 181 with a stop loss at Rs 163. 

    • CNBC-TV18 Exclusive | Sources say Adani Enterprises likely to raise funds through preferential issue

      Adani Enterprises is likely to raise $400-600 million through preferential shares, sources tell CNBC-TV18's Yash Jain. 

      CNBC-TV18 awaits a response to its query sent to Adani Enterprises.

      Here's what Adani group stocks look like at this hour:

      --Adani Enterprises: up 0.9 percent

      --Adani Ports: up 0.8 percent

      --Adani Power: up 5 percent

      --Adani Transmission: up 0.3 percent

      --Adani Green: up 1.2 percent

      --Adani Total: up 1.5 percent

      --Adani Wilmar: up 5 percent

      Stock Market Highlights: Sensex ends 566 pts lower, Nifty50 gives up 17,850; HDFC Bank drops 4%, HDFC 3%
    • IDBI Bank Privatisation | Government likely to invite EoIs in May, say sources

      The government will invite expressions of interest (EoI) for IDBI Bank in May, according to people in the know of the development. It aims to complete the privatisation in FY23 itself, they add. (Read more)

      IDBI Bank shares hold on to the day's gains, up by Rs 3.7 or 8.2 percent at Rs 48.9.

    • Tata Motors up nearly 1%

      Tata Motors shares up by Rs 3.7 or 0.8 percent at Rs 461.7.

      Here's a glimpse of the CURVV:

    • Yes Bank shares at day's high

      Yes Bank shares rise 6.5 percent to Rs 13.9 apiece on BSE, rebounding after a sluggish start to the day. The stock had slid to as low as Rs 12.9 earlier in the session. 

      Stock Market Highlights: Sensex ends 566 pts lower, Nifty50 gives up 17,850; HDFC Bank drops 4%, HDFC 3%
    • Nifty Metal, Nifty Oil & Gas top gainers among NSE's sectoral indices

      Index Change (%)
      NIFTY METAL 1
      NIFTY OIL & GAS 0.7
      NIFTY PSU BANK 0.5
      NIFTY PHARMA 0.2
      NIFTY CONSUMER DURABLES 0.1
      NIFTY MEDIA 0.1
      NIFTY HEALTHCARE INDEX 0.1
      NIFTY AUTO -0.1
      NIFTY FMCG -0.1
      NIFTY REALTY -0.4
      NIFTY PRIVATE BANK -0.7
      NIFTY BANK -0.7
      NIFTY FINANCIAL SERVICES -1
      NIFTY IT -1.3
    • Tata Motors launches electric SUV ‘CURVV’

      Tata Motors shares make it to the green after the news. The stock rises as much as 0.9 percent to Rs 462, having slid to as low as Rs 452.4 earlier in the day. 

    • Fundamental picture of HDFC, HDFC Bank remains extremely convincing: Deven Choksey

      Deven Choksey of KRChoksey is bullish on the HDFC twins from a fundamental perspective. One of the important things he likes about the proposed HDFC-HDFC Bank merger is the increase in the size of mortgage assets on the books. "This gives you two advantages. One: You have a significantly higher amount of unsecured assets into your books. Two: A steady flow of income," he says. 

      Choksey is of the view that a bank will not be able to win customers unless it enhances digital access to the customer at a time when digitisation is taking place at a rapid speed.

      "This particular merger would also help them expand their reach to the customer. But more importantly, with digitisation not seen in the horizon at this point of time, the margins will come down. In a situation like this, when the margins are expected to come down, when you have a secured asset like housing, even though it is slightly lower margin at this point of time, you have a relatively stable book as far as the bank is concerned. In my view, the larger size would probably invite enough amount of recognition also from the global. I think all these points are working in favour at the design level, if I may put it this way, as far as this merger is concerned," he says. 

      Stock Market Highlights: Sensex ends 566 pts lower, Nifty50 gives up 17,850; HDFC Bank drops 4%, HDFC 3%
    • HDFC twins continues to retreat after merger boost

      HDFC Bank and HDFC shares fall nearly three percent in late morning deals. On Monday, the announcement of a merger between the two financial services major had triggered the biggest jump in their stocks in 13 years. 

      HDFC down 2.7 percent at Rs 2,552, having slipped to as low as Rs 2,547.2 earlier in the day. 

      HDFC Bank down 2.8 percent at Rs 1,561.7.

    • Nifty Auto down 0.6%

      Here's how the auto basket is performing at this hour:

      Stock Change (%)
      BOSCHLTD 0.6
      ASHOKLEY 0.2
      TVSMOTOR 0.1
      EICHERMOT -0.1
      MRF -0.3
      TATAMOTORS -0.4
      MARUTI -0.4
      HEROMOTOCO -0.5
      BAJAJ-AUTO -0.9
      SONACOMS -0.9
      M&M -0.9
      BHARATFORG -1
      BALKRISIND -1.8
      TIINDIA -1.9
      ESCORTS -2.1
    • Maruti Suzuki to increase prices in April    

      Maruti Suzuki shares down by Rs 24.5 or 0.3 percent at Rs 7,736, having moved within a range of Rs 7,679-7,776 range earlier in the day.

      Stock Market Highlights: Sensex ends 566 pts lower, Nifty50 gives up 17,850; HDFC Bank drops 4%, HDFC 3%
    • Paytm shares rise over 4% after business update, shareholder letter to shareholders

      Paytm parent One97 Communications' shares rise as much as 4.2 percent to Rs 635. 

    • Paytm CEO Vijay Shekhar Sharma tells shareholders co should  be operating EBITDA breakeven in 6 quarters 

      Here are some highlights:

      --Encouraged by our business momentum, scale of monetisation and operating leverage

      --Expect business momentum to continue

      --Believe we should be operating EBITDA breakeven in next 6 quarters 

      --We are going to achieve op EBITDA breakeven without compromising any of our growth plans

      --Against backdrop of volatile market conditions for high growth stocks globally, our shares are down significantly from IPO price

      --Entire Paytm team committed to building a large, profitable co, to create long-term shareholder value

      --Aligned with this, my stock grants will be vested to me only when our market cap has crossed IPO level on a sustained basis

    Stock Market Highlights
    : Indian equity benchmarks BSE Sensex and NSE Nifty50 ended a volatile session nearly one percent lower on Wednesday, amid weakness across global markets as focus returned to the possibility of aggressive monetary policy tightening. Losses in financial and IT shares pulled the headline indices lower, though gains in metal and oil & gas counters limited the downside. Broader markets stayed in the green throughout the day, with the Nifty Midcap 100 index rising 0.6 percent and its smallcap counterpart edging up 0.1 percent. Investors globally awaited minutes of the FOMC's last policy meeting due later in the day, and kept an eye out on news updates about the Russia-Ukraine war.

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