Stock Market Highlights: Sensex ends 337 pts lower and Nifty slides below 17,650 — rupee sinks to record low of 80.86 vs dollar

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Financial stocks pull headline indices lower

On the other hand, FMCG and auto shares prevent headline indices from deeper cuts. 

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

Rupee at record closing low of 80.86 vs dollar

On Wednesday, the rupee had settled at 79.98 against the greenback.

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. 

US futures suggest a strong start ahead on Wall Street

Buy Cochin Shipyard, Marico: Jay Thakkar

Here are the recommendations by Jay Thakkar of Marwadi Shares & Finance
-- Buy Cochin Shipyard for a target of Rs 495 with a stop loss at Rs 403 
-- Buy Marico for a target of Rs 580 with a stop loss at Rs 540 

Titan at day's high

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.”

Apollo near day's high 

Sell BHEL, Hindalco: Himanshu Gupta

Here are two recommendations by Himanshu Gupta of Globe Capital
-- Sell BHEL for a target of Rs 55 with a stop loss at Rs 60 
-- Sell Hindalco for a target of Rs 395-390 with a stop loss at Rs 411 

US Fed commentary spooks global markets

Buy Marico and L&T Tech: Sacchitanand Uttekar

Here are two recommendations from Sacchitanand Uttekar of Tradebulls: 

--Buy Marico for a target of Rs 555-570 with a stop loss at Rs 536 

--Buy L&T Technology Services for a target of Rs 3,580 with a stop loss at Rs 3,420 

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