Thank you, readers! That's all from CNBCTV18.com's live market coverage on May 12, 2022. Stay tuned for other updates on our website: CNBCTV18.com.
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More downside possible, can be a great buying opportunity: Ambareesh Baliga
Market expert Ambareesh Baliga sees some more downside in the market. Especially midcap or smallcap stocks, which have got battered, can possibly see some sort of capsulation in the next few days, he says.
"I think that would be a great buying opportunity. It is a great time for those actually sitting on cash to start buying. But, at the same time, they should also have the courage to buy and hold," he adds.
Market At Close | Sensex, Nifty tank over 2%
Here are some highlights:
--Nifty sheds 359 points to 15,808
--Headline indices down five percent each in five sessions
--Investors lose nearly Rs 19 lakh crore in five sessions as market cap of BSE-listed companies falls
--45 Nifty stocks in the red
--Adani Ports, IndusInd, Tata Steel, Hindalco, JSW top Nifty losers
--15 Nifty stocks less than 10 percent away from 52- week lows
--10 Nifty stocks down over 30 percent from 52-week highs including Apollo Hospitals, Hindalco, Wipro, Tech Mahindra
--PNB top midcap loser after co reports over Rs 10,000 crore in slippages in January-March period
--Rain Industries, RBL Bank, Federal Bank, IRCTC, IDFC First, Vodafone Idea top midcap losers
--Gujarat Gas, Ambuja, Chambal, IOC, Ashok Leyland gain
--Indiabulls Housing rises seven percent on co’s plan of buying back Rs 800-crore NCDs
--Market breadth firmly in favour of bears, advance-decline ratio at 2:9
--Rupee ends at 77.42 vs US dollar after hitting all-time low of 77.62 during session
ICICI Bank is growing fast — and taking risks
Wondering what's the secret sauce behind ICICI Bank’s exceptional outperformance on loan growth, net interest margin (NIM) and return ratios, following Sandeep Bakshi’s ascent to the helm. The answer lies in its unsecured and high yield loans. (Read full story here)
Coforge shares fall over 3% as Street fails to rejoice better attrition rate than peers
The shares of Coforge fell over 3 percent as the Street factored in a miss in its fourth-quarter earnings despite the firm saying it had one of the lowest attrition levels in the IT sector and showing a robust order book. (Read more)
Kotak Securities invests in fintech startup Multipl
Kotak Securities Limited (KSL) today announced its investment in a fintech startup Multipl as part of the $3mn Pre-Series A round along with other investors.
Multipl is a platform that encourages people to save money for short-term goals. The fintech firm is creating a new category all together – 'Plan Now Pay Smarter' aka 'Save Now Buy Later' for its users.
Multipl has developed and launched an app that works in contrast to BNPL (Buy Now Pay Later). It has created Brand Saver plan among others, where the company has partnered with leading brands and its users save more money with these brands for future spending.