Stock Market Highlights: Sensex ends 157 pts higher and Nifty50 reclaims 17,300 — rupee slumps to 81.88 vs dollar

Thank you, readers! That's all from CNBCTV18.com's live market coverage on October 6, 2022. Stay tuned for other updates on our website: CNBCTV18.com.

You can follow us on Twitter: @CNBCTV18Live @CNBCTV18News

And on Facebook, LinkedIn, Instagram and Telegram

Download our mobile app for Android and iOS platforms

Bajaj Finance remains top pick from NBFC basket: JM Financial's Rahul Sharma

Rahul Sharma, Head-Technicals and Derivatives Research at JM Financial Services, tells CNBC-TV18 that Bajaj Finance continues to be his top pick from the non-banking financial space. He likes Maruti Suzuki from the auto pack, citing a favourable risk reward.

"We believe the market overall should do well in the short to medium term. In October, we are expecting the bias to remain positive, especially for the broader market," he adds. 

Don't expect IT order books shrinking much in Q2: JM Financial's Vinay Jaisingh 

Vinay Jaisingh, MD-Portfolio Management Services at JM Financial Services, tells CNBC-TV18 that in his view, IT companies are unlikely to see much of a decline in their order books in the upcoming earnings reports. "Their outlook for the following 12 months may become a little more questionable. What I mean to say by that is if you look at the two-year and 10-year charts of interest rates for the US, we are at a negative 0.4-0.5 basis points. That means that the US GDP after two quarters of contraction for the next two quarters too you could be at a flat level, which means 2022 may be a flat one too," he says.

"You will start seeing the order book in the following year coming down. Hence we would be underweight the IT sector as well. I am not even getting the costs into the picture, because costs in a way maybe are breached by the dollar going to about 82 (vs the rupee) or even much higher in the days to come," Jaisingh adds. 

Bharti Airtel launches 5G Plus in 8 cities, plans to cover entire urban India by 2023

Canara Bank to hike lending rates by 15 bps across tenures from October 7

MTAR Technologies promoter creates pledge on 2.28% equity on October 3

Rupee falls 35 paise from opening highs to 81.87 against US dollar

Buy Tata Consultancy Services, Axis Bank: Jay Thakkar

Here are two recommendations by Jay Thakkar of Marwadi Shares & Finance:
-- Buy Tata Consultancy Services (TCS) for a target of Rs 3,300 with a stop loss at Rs 3,000 
-- Buy Axis Bank for a target of Rs 775-790 with a stop loss at Rs 746 

Buy IRCTC, United Breweries: Aditya Agarwala

Here are two recommendations by Aditya Agarwala of Invest4edu:
-- Buy IRCTC for a target of Rs 755 with a stop loss at Rs 715 
-- Buy United Breweries (UBL) for a target of Rs 1,840 with a stop loss at Rs 1,700 

Sugar stocks extend gains 

Welspun Corp near day’s high

This is a classic buy-on-dips market: Rahul Sharma

"This is a classic buy-on-dips market where market internals like Nifty has remained resilient throughout and now with the US markets bottoming out, there is a good possibility that we want to test the all-time high on the Nifty, which is around 18,600," said Rahul Sharma, Head - Technicals & Derivatives Research at JM Financial Services.

"I think the technical sense of the market is pretty robust as of now, and any dip could be used as buying opportunities. 17,000 should be a good reentry level in case there is any correction in the near-term and overall, as long as we remain above the 16,650, which is the 50 percent retracement of the entire previous bull move from 15,200 to 18,000, we should be pretty strong in the uptrend," he said.

We have 6 aircraft today, we will be getting an aircraft every 15 days: Vinay Dube of AkasaAir