Stock Market Highlights: Sensex ends 230 pts lower and Nifty50 below 18,350 dragged by financial and IT shares

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Real estate proxy plays look better compared to the core real estate plays: Mayuresh Joshi
“At the time of the lockdown with stamp duty reductions, a lot of fence sitters moved in significantly and aggressively into real estate as a space. Work from home etc created huge triggers for the industry as a whole. If you look at stamp duty registrations across the country then Mumbai, Delhi and Bangalore have been holding up quite well," Mayuresh Joshi, Head-Equity Research at William O' Neil. "However whether they can replicate the success that they saw in the latter part of the COVID wave, is a big question. Also now interest rates are on an upward trajectory as well, so the cost of owning an house is definitely going to become more expensive at this point of time. So we believe that the real estate proxy plays like the leadership stocks in the plywood, laminate space look better off at this point of time compared to the core real estate plays.”

Sensex and Nifty end in the red

-- HDFCs along with Infosys, M&M, Titan drag Nifty while ICICI, L&T support

-- Tata Motors is amongst top Nifty losers as JLR CEO resigns, stock down two percent

-- Autos are under pressure with M&M, Maruti & Bajaj Auto falling two percent each

-- Adani Ent ends with a gain of nearly two percent amid volatility, up three percent from lows

-- Paytm slides 10 percent after a block deal of nearly five percent Eq, Softbank likely seller

-- Midcap IT stocks fall, tracking Nasdaq move, Info Edge top loser, slips six percent

-- Equoitas & Equitas SFB surge on RBI’s nod to DSP to hold 9.99 percent stake in bank

-- India Cem, Hind Copper, Dixon Tech, Mphasis, IndiaMART top midcap losers

-- Shriram Trans rises three percent on NCLT approval for group arrangement

-- Positive management commentary leads to a gain of five percent in NBCC

-- ABB, Exide, GMR, PFC, BEL, Indian Hotels top midcap gainers

-- Market breadth favours declines, advance-decline ratio at 2:3

Positive on financial: Gautam Sinha Roy
"I think the financial sector view broadly remains positive, because we are seeing credit growth in the high teens, NIMs are expanding, credit costs are benign. So we have all the parameters for financials, especially the lenders, which are lining up in a very robust way," says Gautam Sinha Roy, Executive VP & Fund Manager, ICICI Prudential Life Insurance. "ROAs are improving here so the good part is increasingly we are seeing even the smaller financials and the ones which have been beaten down earlier they are coming back into the fray and they are doing better. So that's a very healthy sign, I would say, not only for the sector, but for the broader economy."

Rupee ends lower at 81.65 vs dollar

Margins will start reverting back to normal levels for commodity related sectors: Jyotivardhan Jaipuria
"One space, which is looking very attractive to me from valuations and they have not done well, all these segments where commodity prices have gone up and that is why input cost pressure was very high. At the same time, the demand environment remains strong. So what we are going to see now is last two quarters margins were weak for these segments," says Jyotivardhan Jaipuria, Valentis Advisors (fundamental). "But as the commodity prices come down, margins will start reverting back to normal levels. At the same time, because the demand environment has been strong, you still have growth, which continues in terms of volumes in terms of top line growth."

Equitas SFB gets RBI nod for acquisition of 9.99% stake by DSP investment managers in company

Has the funding arm of the Indian Railways finally started to chug along?

Shares of Indian Railway Financing Corporation, the dedicated funding arm of the Indian Railways, extended gains on Thursday after closing above its IPO price for the first time on Wednesday. (Read more)

Keystone Realtors shares command grey market premium ahead of listing

Dinesh Gupta, Co-Founder of UnlistedZone — a firm that deals in unlisted shares, tells CNBCTV18.com that a grey market premium of 30 percent commanded by Keystone Realtors suggests one can expect a listing gain.

Real estate as a sector is doing really good lately and expected to do well in next 2-3 years, he says. 

The stock of Keystone Realtors — which operates real estate brand Rustomjee — is likely to be listed on BSE and NSE on November 24. 

Buy Tata Consumer Products, Bharat Forge: Ashish Kyal

Here are two recommendations by Ashish Kyal of Waves Strategy Advisors:
-- Buy Tata Consumer Products for a target of Rs 845 with a stop loss at Rs 760 
-- Buy Bharat Forge for a target of Rs 905 with a stop loss at Rs 810 

Uniform Code of Pharma Marketing Practices likely to propose that ethical marketing be a legal necessity: sources to CNBC-TV18

Flattish markets ahead for the next few months: Jyotivardhan Jaipuria
"Essentially, we have had a market which has been flat for the last one year, which on a relative context has been great. Like India has probably been on a different planet, because just given the way the world has fallen, India has done very, very well," says Jyotivardhan Jaipuria, Valentis Advisors (fundamental). "My view is inflation will come down and so Fed will start slowing the rate in pieces. At the same time, there will be enough signs that the US economy is probably slowing down and there will be worries on is it getting into this recession. So there will be one positive one negative, so probably I think more flattish, sort of markets ahead for the next few months or so," he adds.

Bharti Airtel shares touch record high

Engineers India shares trading at 52-week high

The stock surged to Rs 79.75 during intra-day trading. (Read more)

Ashok Leyland delivers 150 vehicles to Tanzanian Police Force