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Stock Market Highlights: Sensex drops 992 pts from day's high as market makes a U-turn, Nifty slides below 15,800

Stock Market Highlights: Sensex drops 992 pts from day's high as market makes a U-turn, Nifty slides below 15,800

Summary

Stock Market Highlights: Indian equity benchmarks BSE Sensex and NSE Nifty50 ended a volatile session in the red on Friday, extended losses to the sixth back-to-back session in a row. Financial and metal shares dragged headline indices lower. Broader markets, however, strengthened, with the Nifty Midcap 100 and the Nifty Smallcap 100 rising around one percent each. Global markets rebounded after a sell-off that stretched to days though investors remained on the back food amid concerns about elevated inflation, interest rate hikes and receding global growth. 

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May 13, 2022 5:38 PM

Everything getting beaten down due to risk-off mood: Inditrade Capital's Sudip Bandopadhyay 

"Even the domestic macro news is nothing great, we have inflation at record levels... That is not cheering the domestic investors," Sudip Bandopadhyay, Group Chairman of Inditrade Capital. "It is a bit of an adverse situation and that is what is taking down stocks like SBI,” he says.

He doesn't see any problem with SBI earnings. "If one is taking a slightly longer-term view and looks beyond this sell-off, I would probably make a basket of SBI, ICICI Bank and HDFC Bank and start to buy slowly," he added. 

May 13, 2022 5:05 PM

Market At Close | Financial, metal stocks drag Sensex, Nifty50 

Here are some highlights: 

Sensex, Nifty slide two percent from day's highs

--Nifty Bank three percent below day's high

--Hindalco, JSW, SBI top Nifty losers

--Tata Motors top Nifty gainer after co reports better-than-expected quarterly earnings

--Titan rises two percent on strong growth target for next few years

--SBI falls over seven percent from day's high after quarterly results

--ICICI Bank, SBI, HDFC Bank, Bharti Airtel top drags on indices

--Bandhan Bank rises but off day's high after strong earnings 

--RBL Bank top midcap gainer on better-than-expected earnings

--IGL, MRF, TVS Motor, AU Small Finance Bank, IRCTC top midcap gainers

--GNFC, Honeywell, Vedanta, Chambal Fertilisers, Ambuja, HDFC AMC top midcap losers

--Market breadth favours bulls, advance-decline ratio at 2:1

May 13, 2022 4:15 PM

Twitter plunges 20% as Elon Musk says deal temporarily on hold

Twitter shares plunge 19 percent after Elon Musk tweeted that the deal is temporarily on hold pending details supporting the calculation that spam/fake accounts do indeed represent less than five percent of users. On the other hand, Tesla rises five percent on the US futures in pre-market trade. (Read more)

May 13, 2022 3:50 PM

Closing Bell | Sensex drops 992 pts from day's high as market makes a U-turn, Nifty gives up 15,800

The Sensex index ends 136.7 points or 0.3 percent lower at 52,793.6 in a sharp reversal in the last hour of trade, having risen to as high as 53,785.7 earlier in the day. 
 
The Nifty50 settles at 15,782.2, down 25.9 points or 0.2 percent from its previous close. 
 
May 13, 2022 3:41 PM

Rupee weakens against US dollar

May 13, 2022 3:40 PM

Musk: Twitter deal temporarily on hold 

May 13, 2022 3:27 PM

US futures rises

May 13, 2022 3:23 PM

ICICI bank falls after touching 702.40

May 13, 2022 3:13 PM

SBI gives up initial gains after quarterly earnings 

State Bank of India reported a 41.3 percent year-on-year jump in quarterly net profit to a record Rs 9,113.5 crore. SBI shares rose after the earnings announcement as the bank's profitability was boosted by strong loan growth, however, the stock soon made a U-turn and was trading in the red, down 2.8 percent from previous close.  (Read more)

May 13, 2022 3:03 PM

Escorts Q4 earnings largely in line with CNBC-TV18 estimates

May 13, 2022 2:37 PM

Bandhan Bank reports Q4 earnings

May 13, 2022 2:33 PM

LIC Housing Finance ups home loan interest rate

Mortgage financier LIC Housing Finance (LIC HFL) on Friday increased the interest rate on home loans by 20 basis points to 6.9 percent, from 6.7 percent, for select borrowers. For borrowers with CIBIL score of 700 and above, the rate hike has been limited to only 20 bps, LIC Housing Finance said in a statement, adding that the revised rates are applicable from Friday. ( Read more)

May 13, 2022 2:30 PM

SBI likely to catch up on profit margin in next few quarters: Prakash Diwan after Q4 result

Large lenders must remember that increasing interest rate scenario always ends up being profitable, market expert Prakash Diwan said after SBI's quartely earnings report.

SBI has already cleaned up books to such a large extent, there is no new addition to SMA accounts, so it may probably catchup on the profit margin in the coming quarters whereas the balance sheet is completely in place to ride on the growth they have started seeing. 

"Loan growth is a great start, it is just that the profit margins will have to get padded along the way," he told CNBC-TV18.

May 13, 2022 2:25 PM

SBI's net NPA down 19% QoQ

May 13, 2022 1:42 PM