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Stock Market Highlights: Sensex drops 643 pts from day's high and Nifty50 gives up 16,250 as market fails to stay positive in last 30 minutes

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Stock Market Highlights: Sensex drops 643 pts from day's high and Nifty50 gives up 16,250 as market fails to stay positive in last 30 minutes

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Stock Market Highlights: Indian equity benchmarks BSE Sensex and NSE Nifty50 finished a volatile session in the red on Monday as Dalal Street entered the monthly derivatives (futures & options) expiry week. Losses in financial, metal and oil & gas shares pulled the headline indices lower, though gains in auto, IT and consumer durables scrips arrested the fall. Broader markets also failed to stay in the green, with the Nifty Midcap 100 dropping 0.4 percent and its smallcap counterpart 0.8 percent at the close. Investors awaited the last leg of financial results from India Inc for cues.

Stock Market Highlights: Sensex drops 643 pts from day's high and Nifty50 gives up 16,250 as market fails to stay positive in last 30 minutes
  • Thank you, readers! That's all from CNBCTV18.com's live market coverage on May 23, 2022. Stay tuned for other updates on our website: CNBCTV18.com.

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  • Indian market to perform better than peers: Mark Mobius 

    Mark Mobius, Founder of Mobius Capital Partners, tells CNBC-TV18 that he does not expect the Indian market to perform worse than its peers. "The profitability of Indian stocks are so good that you are not going to see the kind of decline that we saw in the past. But I think we have got to expect that and that's the reason why I tell investors to make sure to have companies that have very low debt, not spending a lot and have very good pricing power. That's the only way to survive in this kind of market," he says.

    "Don't forget, there are always opportunities in a bear market,” he says.  

  • Investors should focus on auto, consumer stocks: Gurmeet Chadha

    Gurmeet Chadha, Co-Founder and CEO of Complete Circle Consultants, believes investors should focus on auto and consumer stocks now. The auto sector has had 3-4 bad years and their valuation multiples are far more reasonable, he says. The cheaper of the consumer companies are still 40 times their FY24 earnings estimates so it is wise to be a little careful there, he says.

  • Davos 2022 | M&M CEO Anish Shah says EV space is like a test match, there is a long way to go

    Anish Shah, MD and CEO of M&M, tells CNBC-TV18 on the sidelines of the World Economic Forum 2022 that the electric vehicle space to him is like a test match. "We are just in a first few overs and there is long way to go," he says. 

    "We are in the first 5 to 10 overs of a test match. There is still a long way to go and in India, what is important now is we have started seeing momentum on EVs, and coming up with world class cars on the EV front, which are truly born electric cars... We have a range of cars that will be launched in the near future," Shah adds. 

  • Market At Close | Sensex, Nifty50 near day’s lows

    Here are some highlights: 

    --Sensex and Nifty50 fall one percent each from day's highs

    --Nifty Bank down two percent from day's high

    --Metal stocks fall sharply after government announces increase in export duty

    --Nifty Metal falls eight percent, biggest single-day fall since March 2020

    --JSW Steel, Tata Steel, JSPL, NMDC, SAIL plunge 10-18 percent

    --Divi’s Labs down 10 percent following management commentary on financial results

    --Amara Raja slides six percent after co reports weak earnings

    --Ashok Leyland top midcap gainer after brokerage upgrade

    --Indian Hotels rises three percent after co reveals plan to achieve 33 percent margin by 2025-26

    --ITC falls two on reports of government stake sale plan through OFS

    --Market breadth in favour of bears, advance-decline ratio at 1:2

    Stock Market Highlights: Sensex drops 643 pts from day's high and Nifty50 gives up 16,250 as market fails to stay positive in last 30 minutes
  • Closing Bell | Sensex retreats 643 pts from day's high, Nifty slides to 16,215

    The Sensex finishes the day down 37.8 points or 0.1 percent at 54,288.6, retreating 642.7 points from its strongest level of the day. 

    The Nifty50 settles at 16,214.7, down 51.5 points or 0.3 percent from its previous close.  

  • EXCLUSIVE | Mark Mobius expects Indian indices to retreat 30% from peak


  • The major support for Titan is coming somewhere in the range of in the range of Rs 1,950 to 2,000: Ruchit Jain of 5paisa.com

    Ruchit Jain of 5paisa.com said that major support for Titan is in the range of Rs 1,950 to 2,000. "For short-term all the three stocks seem to be in a short-term down trade so we may see some more correction in the near term. The major support for Titan is coming somewhere in the range of in the range of Rs 1,950 to 2,000. So that is the level in which we are expecting in very short-term Rs 1,950 to 2,000."

  • Major cement stocks under pressure

  • Ultratech Cement sinks into red

  • Dhanuka Agritech revenue Jan-Mar rises 15.5% to 318 crores
    Dhanuka Agritech net profit increased at 11.8% to 54.4 crore rupees on a year-on-year basis. Consolidated revenue rose by 15.5% At`318.3 from`275.6 crore rupees on a year-on-year basis. 

  • People have been negative on banking just because FIIs own a lot of it: Jigar Mistry, Co-Founder, Buoyant Capital quotes to blog

    Jigar Mistry, Co-Founder, Buoyant Capital said on Insurance and banking space that people have been negative on banking just because FIIs own a lot of it and they have been selling
    "Insurance and banking are two spaces which we are extremely gung-ho on. See everything said and done people have been negative on banking just because FIIs own a lot of it and they have been selling and besides that, if you look at any banks numbers - not any but most of the banks numbers they have been fairly resilient. So I think that is one space which we are very interested in. We have discussed our likes in the past ICICI Bank, SBI, Axis Bank, Federal Bank, Canara Bank, it goes in that order."


    "Insurance again is a very interesting space, LIC as I had said it is among the cheaper names now. We don't own it but earlier, a lot of fear was essentially that people would come in and look at this as a very expensive bet, especially because EV a lot of exposure to the market, and therefore that gets impacted. But beyond that, something like an SBI Life or a Max Financial Services - Max Financial we have been holding on for a fairly long period of time. Those spaces continue to be very interesting because both for banks and life insurance, rising interest rate actually benefits both of them."

  • Current occupancy is around 50-55%: Sandhya J, Group CFO, Narayana Health

    Sandhya J, Group CFO, Narayana Health said that about 60-70% of their capacity is being used.

    “If I have to give a number, it will be between 50 percent and 55 percent in terms of occupancy, but capacity that we are using, we are almost using 60-70 percent of our capacity. In fact, in another two years we are going to be full as we have to start investing for capacity.”

  • Centre may consider additional borrowing of Rs 1 lakh crore after tax relief measures
    The Central government might consider additional borrowing to meet the fiscal gap, following its latest excise and customs duty relief announcements, people in the know of the matter told CNBC-TV18.
    On Saturday, the Centre decided to reduce the central excise duty on petrol by Rs 8 per litre and on diesel by Rs 6 per litre. The revenue forgone on petrol, diesel excise cuts is estimated at Rs 1 lakh crore. (Read more)

  • Paytm shares stage smart recovery after falling 4% percent intraday
    Shares of One 97 Communications, parent of Paytm, rose as much as 10 percent on Monday, in a dramatic recovery after falling as much as four percent intraday.The stock began the day lower as the company's net loss for the March quarter widened to Rs 762.5 crore from a loss of Rs 444.4 crore in the corresponding quarter of the previous fiscal. The stock hit an intraday low at Rs 552.(Read more)

  • LIC lurks in the discount zone but can investors expect the stock to cross the issue price soon?

    Life Insurance Corporation (LIC) shares are yet to command a premium in the secondary market — meaning the stock still has more ground to cover before it crosses the upper end of its IPO price range in the secondary market.

    The newly-listed LIC stock has gyrated within a Rs 95 range between Rs 825 and Rs 920 after a weak listing amid a market-wide sell-off. (Read more)

    Stock Market Highlights: Sensex drops 643 pts from day's high and Nifty50 gives up 16,250 as market fails to stay positive in last 30 minutes
  • Nifty50 more than 900 pts below long-term moving average

    Period (No. of sessions) Simple moving average Signal
    5 16,185.9 Bullish
    10 16,076.9 Bullish
    20 16,472.6 Bearish
    50 16,956.2 Bearish
    100 17,150.6 Bearish
    200 17,261.6 Bearish
  • Divi's quarterly profit at Rs 894.6 crore exceeds Street expectations

    Divi's net profit increased 78.2 percent on a year-on-year basis and revenue rose 40.8 percent to Rs 2,518.4 crore, according to a regulatory filing. 

    Analysts in a CNBC-TV18 poll had estimated the pharma company's net profit at Rs 713 crore and revenue at Rs 2,302.6 crore. 

    The drug maker's EBITDA margin improved by 370 basis points on year to 43.8 percent. Analysts had estimated it at 42 percent. 

    Stock Market Highlights: Sensex drops 643 pts from day's high and Nifty50 gives up 16,250 as market fails to stay positive in last 30 minutes
  • From Bajaj Auto to GAIL, these stocks pay high dividends and can protect your portfolio during turbulent times on the Street

    At a time when equities have been oscillating wildly between gains and losses, market experts believe well dividend paying stocks could be a key to saving your portfolio from diving deep into the red.

    A dividend — usually sourced from the company’s net profits — can be described as a reward that publicly-listed companies extend to their shareholders. (Read more)

    Stock Market Highlights: Sensex drops 643 pts from day's high and Nifty50 gives up 16,250 as market fails to stay positive in last 30 minutes
  • IOC, HPCL and BPCL free to set their own fuel prices: Oil minister

    Oil marketing companies such as Indian Oil Corporation (IOC), Hindustan Petroleum Corporation (HPCL) and Bharat Petroleum Corporation (BPCL) are free to set their own fuel prices, Petroleum and Natural Gas Minister Hardeep Singh Puri tells CNBC-TV18 on the sidelines of the World Economic Forum Annual Meeting 2022. 

    The minister's comment comes after the Centre announced a cut in excise duty on petrol by Rs 8 per litre and on diesel by Rs 6 per litre on Saturday. (Read more)

    Stock Market Highlights: Sensex drops 643 pts from day's high and Nifty50 gives up 16,250 as market fails to stay positive in last 30 minutes
  • EXCLUSIVE | Shaktikanta Das says RBI to bring down liquidity in a calibrated and phased manner

  • Gulf Oil Lubricants Jan-Mar profit rises 6% to Rs 63.4 crore

    The company's revenue increases 23.5 percent on a year-on-year basis to Rs 638.9 crore, accordign to a regulatory filing. Its earnings before interest, taxes, depreciation and ammortisation (EBITDA) rose 14.1 percent to Rs 89.1 crore.

    The EBITDA margin, however, came down by 125 bps to 13.9 percent.

    Manish Gangwal of Gulf Oil Lub tells CNBC-TV18 that the third wave of the pandemic and the Russia-Ukraine war impacted the company's volume growth in the January-March period. The company will maintain its margin between 14 percent and 16 percent going forward, he says.

    Stock Market Highlights: Sensex drops 643 pts from day's high and Nifty50 gives up 16,250 as market fails to stay positive in last 30 minutes
  • Buy Gujarat Alkalies, Mazagon Dock: Kush Bohra 

    Kush Bohra of www.kushbohra.com shares two trading calls: 

    --Buy Gujarat Alkalies & Chemicals for a target of Rs 960 with a stop loss at Rs 895 

    --Buy Mazagon Dock Shipbuilders for a target of Rs 325 with a stop loss at Rs 285 

  • Infosys, ICICI Bank, L&T, Maruti Suzuki top Sensex movers

    Stock Market Highlights: Sensex drops 643 pts from day's high and Nifty50 gives up 16,250 as market fails to stay positive in last 30 minutes
  • Hindustan Unilever shares cross long-term moving average

    The HUL stock rise as much as 1.8 percent to Rs 2,370.1 apiece on BSE. It has gained more than six percent so far this month, as against a fall of 4.5 percent in the benchmark Nifty50 index.

    HUL shares have been a massive underperformer over the past two years.

    Stock Market Highlights: Sensex drops 643 pts from day's high and Nifty50 gives up 16,250 as market fails to stay positive in last 30 minutes
  • Excise duty cut to ensure higher revenue for oil companies: Samir Arora

    Samir Arora of Helios Capital tells CNBC-TV18 that in his view, the cut in excise duty by the government will ensure higher revenue for oil companies. The government is taking the right steps to reduce inflation pressure, he says. 

    Stock Market Highlights: Sensex drops 643 pts from day's high and Nifty50 gives up 16,250 as market fails to stay positive in last 30 minutes
  • India equity market looks interesting: HSBC's Herald Van Der Linde

    Herald Van Der Linde, Head of Asia Equity Strategy at HSBC, tells CNBC-TV18 that the valuations that he was worried about about six months ago have come down to a certain extent. "That looks a little bit better at the moment. You still need to deal with food inflation and with rising interest rates, so the macro is not as good as maybe in other parts of the region," he says.

    "India has been used as a funding market for people to rotate back into North Asia. So that could overlay on India. But ultimately, India has got a couple of fantastic growth stories across the market from food and consumer to hospitals, medicines and stuff like that. Dig a bit deeper in this market and look for some of the opportunities that might arise in due course in India,” he adds. 

  • Maruti Suzuki, Hero MotoCorp, Asian Paints top blue-chip gainers

    Tata Steel, JSW Steel and Hindalco are the worst hit among the 12 laggards in the Nifty50 basket. 

    Here's what the 30-scrip basket looks like:

    Stock Market Highlights: Sensex drops 643 pts from day's high and Nifty50 gives up 16,250 as market fails to stay positive in last 30 minutes
  • Stock Market Highlights: Sensex drops 643 pts from day's high and Nifty50 gives up 16,250 as market fails to stay positive in last 30 minutes
Stock Market Highlights
: Indian equity benchmarks BSE Sensex and NSE Nifty50 finished a volatile session in the red on Monday as Dalal Street entered the monthly derivatives (futures & options) expiry week. Losses in financial, metal and oil & gas shares pulled the headline indices lower, though gains in auto, IT and consumer durables scrips arrested the fall. Broader markets also failed to stay in the green, with the Nifty Midcap 100 dropping 0.4 percent and its smallcap counterpart 0.8 percent at the close. Investors awaited the last leg of financial results from India Inc for cues.

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