Stock Market Highlights: Sensex ends choppy session 110 pts lower and Nifty slips below 16,250 dragged by SBI, L&T, PowerGrid

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Rupee ends at 77.58 vs US dollar

Closing Bell | Sensex down 110 pts, Nifty at 16,240

The Sensex finished the day down 109.9 points or 0.2 percent at 54,208.5 and the Nifty50 settles at 16,240.3, down 19 points or 0.1 percent from its previous close.  

Sun Pharma to launch a lipid-lowering drug

Power Minister RK Singh asks four states to import coal to meet future demands

HDFC falls 0.34% lower than yesterday's close

Can Fin Homes slips 

Arvind increases Net profit by 58.2% or 30.9 cr year-on-year basis

Recommendation to increase GST on online gaming, casinos and race courses

ITC recovers over 1%

Buy HUL, Petronet: Manas Jaiswal 

Here are two trading calls from Manas Jaiswal of manasjaiswal.com:

--Buy Hindustan Unilever for a target of Rs 2,375 with a stop loss at Rs 2,250 

--Buy Petronet LNG for a target of Rs 230 with a stop loss at Rs 218 

Reliance recovers from intra-day lows

Cabinet grants permission to export biofuels in certain cases

Cabinet empowers PSU Board on matters of disinvestment

Ruchi Soya to acquire Patanjali's food retail business, name to be changed to Patanjali Foods

Market Indices falls after witnessing gains

Buy Angel One, Go Fashion: Kush Bohra 

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

--Buy Go Fashion for a target of Rs 1,200 with a stop loss at Rs 1,070 

--Buy Angel One for a target of Rs 1,620 with a stop loss at Rs 1,470 

Axis Bank hikes key lending rate

The private sector bank has raised its marginal cost-based lending rate (MCLR) across tenures by 35 basis points. MCLR is the minimum rate of interest below which a financial institution cannot lend. 

Axis Bank shares are up 0.9 percent at Rs 660.5 apiece on BSE, having risen as much as 2.4 percent earlier in the day.

LIC shares gain but still have some distance to cover to reach issue price

Life Insurance Corporation (LIC) shares clock mild gains, a day after the stock of the state-run insurance giant made a weak debut in the secondary market. The LIC stock rises by as much as Rs 14.6 or 1.7 percent to Rs 890 apiece on BSE after listing at a discount of eight percent the previous day.

Despite the rise, the stock is still in discount territory compared with its issue price. At the strongest level of the day, LIC shares came within six percent of the issue price of Rs 949.

Bharti Airtel shares give up initial gains but still positive for week

Bharti Airtel on Tuesday reported a more than two-fold jump in net profit on year to Rs 2,007.9 crore for the January-March period, beating Street estimates. 

Analysts in a CNBC-TV18 poll had estimated the telecom major's quarterly net profit at Rs 1,880 crore. 

Its revenue increased 5.5 percent on a year-on-year basis to Rs 31,500 crore, according to a regulatory filing. Analysts had estimated the revenue at Rs 31,740 crore. 

Buy TCS, sell UPL: Ruchit Jain 

Ruchit Jain of 5paisa.com shares two trading calls: 

--Buy TCS for a target of Rs 3,620 with a stop loss at Rs 3,400 

--Sell UPL for a target of Rs 790 with a stop loss at Rs 833 

Nifty IT rises over 1%, top gainer among NSE's sectoral gauges

LIC IPO was priced attractively: Manishi Raychaudhuri of BNP Paribas

10-20% rebound in oversold stocks possible over next few days: Mark Matthews

Mark Matthews of Bank Julius Baer & Co tells CNBC-TV18 that he expects the market rally to extend till the end of the month. The market, in his view, should be close to a bottom in case there is no recession in the US this year. He does not expect inflation to return to pre-pandemic levels as he sees commodity prices remaining at elevated levels.

Matthews expect a 50 bps hike in the key rate by the Fed in June. 

Rupee opens nearly unchanged at 77.55 vs US dollar

On Tuesday, it had settled at 77.57 against the greenback. 

Sensex jumps 400 pts, Nifty surpasses 16,350 in early deals

Both headline indices rise as much as 0.7 percent in the first few minutes of the session. The Sensex gains as much as 402.2 points to touch 54,720.7 and the Nifty50 climbs to as high as 16,376.3, up 117 points from its previous close. 

Pre-Open Market | Sensex up over 200 pts, Nifty above 16,300

In the pre-opening session, both headline indices are up 0.4 percent. The Sensex is up 236.4 points at 54,554.9 and the Nifty50 at 16,318.2, up 58.9 points from its previous close. 

ITC, Pidilite, Lupin, Manappuram to report financial results today