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Stock Market Highlights: Sensex sheds 1,416 pts, Nifty50 cracks below 15,850 amid broad sell-off but ITC shines

Stock Market Highlights: Sensex sheds 1,416 pts, Nifty50 cracks below 15,850 amid broad sell-off but ITC shines

Summary

Stock Market Highlights: It was the worst day for Indian equity benchmarks BSE Sensex and NSE Nifty50 in more than two months on Thursday, amid a sell-off as concerns resurfaced about rising inflation and its impact on world economic growth. Losses across sectors pulled the headline indices lower, with financial, IT, oil & gas and auto shares being the biggest drags. Broader markets also bled, with the Nifty Midcap 100 and Nifty Smallcap 100 indices falling almost three percent each. ITC bucked the trend with a gain of 3.4 percent after the company reported its financial results.

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Outlook on IT company growth not as bad as market is making it look: Nischal Maheshwari

Nischal Maheshwari, CEO-Institutional Equities at Centrum Broking, tells CNBC-TV18 that earnings for the January-March quarter do not show the kind of rout the stocks are seeing at the moment. 

He prefers largecap stocks to midcap ones in the IT basket. 

Rupee ends at 77.73 vs US dollar 

On Wednesday, it had settled at 77.58 against the greenback. 

Closing Bell | Sensex, Nifty50 post biggest single-day fall in over two months amid global sell-off

Here are some highlights: 

--Nifty IT posts biggest single-day fall in 2 years

--Volatility index surges over 10 percent to near 2-month high

--Top five Nifty losers IT stocks: Wipro, HCL, Infosys, Tech Mahindra, TCS 

--ITC gains after co reports better-than-expected earnings

--Dr Reddy’s posts operational beat, stock edges higher

--Market breadth firmly favours bears, advance-decline ratio at 1:5

UK imposes fresh sanctions on Russian airlines including state-owned

Punjab and Sind bank's share rise by 0.45 points

Nifty plunges below 15,800 mark 

GST system far from adequate to the important task, SC judgement in the line with my May 28, 2021 comments: TN Finance Minister P Thiaga Rajan

Ratan Tata expresses grateful appreciation to the Supreme Court for its judgement in the Tata-Mistry case

Main indices in US Futures witness decline like their Indian counterparts

Hero Moto recovers from its intra-day fall

Infosys falls by 87 points

Shares of Godrej Consumer Products declined session as Street is expecting company’s margin to be flat in the Q4 of the FY21 

Dr Reddy’s Laboratories reports 88 cr profit, revenue stands at ₹5,437 cr