Thank you, readers! That's all from CNBCTV18.com's live market coverage on September 22, 2022. Stay tuned for other updates on our website: CNBCTV18.com.
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Market Closes Largely Lower Amid Volatility Post Hawkish Fed Commentary
Financials Underperform With Nifty Bank Falling Over 1%; HDFC Bk, ICICI Top Losers
Midcap Index Rises 418 Points From Lows To Close 107 Points Higher
Midcap Outperformance Keeps Mkt Breath Neutral, Adv-Decline Ratio 1:1
Sensex Slips 337 Points to 59,120 & Nifty 89 Points To 17,630
Nifty Bank Slips 573 Points To 40,631 While Midcap Index Rises 107 Points To 31,826
FMCG Names Continue The Gaining Momentum, ITC, Britannia & HUL Up 1-3%
Titan, Asian Paints, Eicher, Maruti Are Top Nifty Gainers
Tata Chem Surges 55 To Close Near 52-week High Post Positive Commentary
Page Ind Rises To Record High With Stock Gaining 10% In Last 4 Sessions
Metropolis, Granules, Guj Gas, Marico, Dr Lal, Dabur, Indian Hotels Top Midcap Gainers
India Cements Take A Sharp Knock In Last Hour, Stock Closes With A Cut Of 5%
City Union Bank, Godrej Cons, BoB, Muthoot Fin, Godrej prop Top Midcap Losers
Like TCS and Persistent from IT space: Kivah Advisors' Mithun Aswath
Mithun Aswath, Managing Partner at Kivah Advisors, tells CNBC-TV18 that largecap IT companies not going to give a CAGR of 20 percent but 12-15 percent instead but make good opportunities to invest.
"If you look at this stocks under our coverage, on the largecap side, we are playing companies like TCS. On the midcap side, we are monitoring stocks like Persistent Systems," he says.
We are very interested in the defence space: Jyotivardhan Jaipuria
Jyotivardhan Jaipuria, Founder & MD, Valentis Advisors, said, “We are very interested in the defence space. We are looking at it, we are buying it. Obviously, in terms of share price, there will be some challenges along the way because a lot of these orders are lumpy and we have seen a lot of share price movement already." According to Jaipuria, the sector will make a lot of money over the next 3-5 years. "It may not be in a straight line, and maybe some of these stocks need to consolidate short-term.”
Buy Cummins, Axis Bank and Bajaj Finance: Ashish Chaturmohta
Ashish Chaturmohta, Director and Head-Research at JM Financial Services, shares four trading calls:
--Buy Cummins for a short-term target of Rs 1,350 with a stop loss at Rs 1,210: The stock is poised for Rs 1,450-1,500 kind of levels in 2-3 months, he says.
--Buy Axis Bank for a short-term target of Rs 850-860 with a stop loss at Rs 785
--Buy Bajaj Finance for a short-term target of Rs 8,000 with a stop loss at Rs 7,540
--Sell Godrej Properties for a short-term target of Rs 1,220 with a stop loss at Rs 1,305