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Stock Market Highlights: Sensex ends 236 pts lower, Nifty gives up 16,150 as market fails to hold on to the green for a second day

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Stock Market Highlights: Sensex ends 236 pts lower, Nifty gives up 16,150 as market fails to hold on to the green for a second day

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Stock Market Highlights: Indian equity benchmarks BSE Sensex and NSE Nifty50 failed to hold on to the green in a second straight volatile session on Tuesday amid sluggish moves in other Asian markets. Losses in IT and FMCG shares pulled the headline indices lower, though gains in financial stocks limited the downside. Broader markets also weakened, with the Nifty Midcap 100 and Nifty Smallcap 100 indices falling around one percent each. Investors awaited the last leg of corporate earnings for cues.

Stock Market Highlights: Sensex ends 236 pts lower, Nifty gives up 16,150 as market fails to hold on to the green for a second day
  •  Thank you, readers! That's all from CNBCTV18.com's live market coverage on May 24, 2022. Stay tuned for other updates on our website: CNBCTV18.com.

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  • Can't judge the chemical space as a homogeneous sector: Viraj Mehta

    Viraj Mehta, Managing Director of PMS at Equirus, tells CNBC-TV18 that the chemicals space in his view is a heterogeneous sector where the economics of one segment are different from those of another.

    "As a general rule of thumb, what we have to avoid is companies that have done exceedingly well recently in terms of margin expansion and due to a tailwind that is temporary in nature. Those are the companies which we would like to avoid,” he says. 

  • Market At Close | Sensex, Nifty50 fail to hold on to recovery amid volatility

    Here are some highlights: 

    --Infosys, HUL, Asian Paints and TCS drag headline indices

    --HDFC twins, Reliance support indices

    --Divi’s falls six percent on lack of guidance

    --Sugar stocks slip on reports of sugar export limit to 10 mt

    --PVR, M&M Finance, Persistent, Metropolis, Manappuram top midcap losers

    --Ashok Leyland continues to rise after strong earnings, up eight percent in two days

    --LIC in the green for first time since listing, rises nearly one percent

    --Zomato jumps 14 percent after co reports mixed earnings

    --Market breadth favours bears, advance-decline ratio at 1:3

    Stock Market Highlights: Sensex ends 236 pts lower, Nifty gives up 16,150 as market fails to hold on to the green for a second day
  • Rupee edges lower vs US dollar

    Stock Market Highlights: Sensex ends 236 pts lower, Nifty gives up 16,150 as market fails to hold on to the green for a second day
  • Party is over in new tech startups: Mehraboon J Irani 

    Market expert Mehraboon J Irani points out that the Zomato management has definitely put bold remarks that its EBITDA loss will come down because it is going to spread to new cities and the fixed cost is not going to grow much. "They have said the revenue growth will accelerate to double margins. But can somebody tell me as to when this company will ever make profits?" he says. 

    "Most of these companies there has been a lot of fanfare around them. People have said they are great businesses and ultimately they will possibly give you money, but most of them are bleeding right now and trying to identify one out of 20 or 30 companies which will ultimately end up doing well is a very tall task in this present environment. I will certainly give it a pass by stating that from a trading angle, yes, some more upside could be possible," he adds. 

  • HDFC, Dr Reddy's, Kotak Mahindra Bank rise 2%

    Stock Market Highlights: Sensex ends 236 pts lower, Nifty gives up 16,150 as market fails to hold on to the green for a second day
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    Rupa & Co on Monday announced that accepted the resignations of Chief Executive Officer (CEO) Dinesh Kumar Lodha and Chief Financial Officer (CFO) Ramesh Agarwal. Both resignations will be in effect from May 31.

    In an exchange filing, the company stated that Agarwal will continue to hold the Whole Time Director position at the firm. (Read more)

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  • HDFC group stocks off day's lows

    Stock Market Highlights: Sensex ends 236 pts lower, Nifty gives up 16,150 as market fails to hold on to the green for a second day
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    Bloomberg had reported that the government may cap sugar exports at 10 million tonnes for the year ending September.

  • Like capital goods, cement, banking, auto sectors: Jyotivardhan Jaipuria

    "We are trying to nibble in these sectors, and we are happy to buy more the share prices come off," Jyotivardhan Jaipuria, Founder and MD of Valentis Advisors, tells CNBC-TV18.

  • Buy Nocil, AIA Engineering: Kush Bohra 

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

    --Buy Nocil for a target of Rs 275 with a stop loss at Rs 250 

    --Buy AIA Engineering for a target of Rs 2,050 with a stop loss at Rs 1,820 

  • Sugar stocks sinks into red

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    "Norms on debt ETF/index fund will certainly help broaden the debt passive fund product offerings. The number of steps with respect to market making, the iNAV on stock exchanges, or the disclosure of tracking error and tracking difference would equip investors to make the right choice of a passive fund manager,” he adds.

  • This market veteran expects an earnings surprise from India amid all the doom and gloom
    The Indian market, taking cues from the overall global macro environment, has fallen sharply in recent times. In the past month, the benchmark indices, Nifty50 and BSE Sensex, have been down 4.75 percent and 4.4 percent, respectively. However, market veteran Madhu Kela, founder of MK Ventures, believes that the tailwinds will blow always sooner than later, and there may be a positive earnings surprise in store.(Read more)

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    Axis Securities expects Maruti Suzuki India to recover on the margin and market share front in FY23 and FY24, led by a favourable product mix and lifecycle, operating leverage, and cost-cutting. The brokerage house expects margins to be supported by strong demand, softening commodity inflation, and improving chip shortage situation. This comes at a time when most corporates are facing inflationary woes, which have kept their margins under pressure.(Also read)

  • HDFC recovers 3% from day's low

    Stock Market Highlights: Sensex ends 236 pts lower, Nifty gives up 16,150 as market fails to hold on to the green for a second day
  • Davos 2022 | Piyush Goyal says business leaders globally have huge expectations from India

  • Buy Coromandel, sell ACC: Mitessh Thakkar 

    Mitessh Thakkar of earningwaves.com shares two trading calls: 

    --Buy Coromandel International for a target of Rs 1,000 with a stop loss at Rs 950 

    --Sell ACC for a target of Rs 2,170 with a stop loss at Rs 2,235 

  • FII outflow not necessarily to do with any India specific problem: Madhu Kela

    Madhu Kela, Founder of MK Ventures, tells CNBC-TV18 that the FII outflow could be relating to the global meltdown and global inflation. "A lot of these investors may have lost in some of the markets that have not done well, maybe Russia, China and partially it also because of this. However, I must add, while there has been such a significant outflow from the secondary market, FIIs have put roughly Rs 1 lakh crore in the primary markets... FIIs which used to be roughly 22.5 percent of the overall marketcap have now fallen to below 20.5 percent,” he says. 

  • Buy IndiGo Rs 1,740 strike call option: Shubham Agarwal

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  • Nifty Bank, Nifty PSU Bank up 0.3%

    Stock Market Highlights: Sensex ends 236 pts lower, Nifty gives up 16,150 as market fails to hold on to the green for a second day
  • Reliance, HDFC, Kotak Mahindra Bank help Sensex avoid deeper losses

    Stock Market Highlights: Sensex ends 236 pts lower, Nifty gives up 16,150 as market fails to hold on to the green for a second day
  • Birlasoft shares rise 2% 

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    Its revenue increased three percent sequentially to Rs 1,104.2 crore. 

    Birlasoft's board approved a plan to buy back up to 2.79 percent of its shares at Rs 500 apiece for up to Rs 390 crore. 

  • Delhivery makes a decent debut, shares list at a premium over issue price

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    On BSE, the Delhivery stock listed at Rs 493 apiece, a premium of Rs 6 or 1.2 percent over its issue price of Rs 487.

    On NSE, Delhivery shares began their journey at Rs 495.2 apiece, a premium of Rs 8.2 or 1.7 percent.

    The listing was in contrast to the trend seen in the grey market in the past few days. (Read more)

  • TCS, Infosys, Hindustan Unilever biggest drags on headline indices

    Stock Market Highlights: Sensex ends 236 pts lower, Nifty gives up 16,150 as market fails to hold on to the green for a second day
  • Sensex gains over 150 pts, Nifty50 tops 16,250

    Both headline indices rise as much as 0.3 percent after a positive start. The Sensex gains 153.4 points ot touch 54,442 at the strongest level in early deals. The Nifty50 climbs to as high as 16,262.8, up 48.1 points from its previous close.

    Stock Market Highlights: Sensex ends 236 pts lower, Nifty gives up 16,150 as market fails to hold on to the green for a second day
  • Rupee opens marginally lower at 77.55 vs US dollar

    On Monday, it had settled at 77.51 against the greenback. 

    Stock Market Highlights: Sensex ends 236 pts lower, Nifty gives up 16,150 as market fails to hold on to the green for a second day
  • Nifty has hit market bottom, makes sense to buy at current levels: Mehta Equities' Prashanth Tapse

    Prashanth Tapse, Vice President (Research) at Mehta Equities, believes technical indicators in the past two days suggest directional strength.

    The Nifty could aim to move higher and consolidate near the 16,411-16,657 hurdle, he says. 

Stock Market Highlights
: Indian equity benchmarks BSE Sensex and NSE Nifty50 failed to hold on to the green in a second straight volatile session on Tuesday amid sluggish moves in other Asian markets. Losses in IT and FMCG shares pulled the headline indices lower, though gains in financial stocks limited the downside. Broader markets also weakened, with the Nifty Midcap 100 and Nifty Smallcap 100 indices falling around one percent each. Investors awaited the last leg of corporate earnings for cues.

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