Stock Market Highlights: Sensex ends 151 pts lower and Nifty below 18,200 dragged by financial shares

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Sensex and Nifty end lower dragged by financial services

-- Adani Group stocks continue the gaining momentum with Adani Ports rising four percent

-- Coal India surges to three-year highs after a healthy September quarter earnings

-- Hindalco is top Nifty loser after Novelis cuts guidance, stock ends five percent lower

-- Divi’s Lab three, down 12 percent in two sessions on disappointing September quarter

-- Sun Pharma falls more than one percent on Mohali unit getting OAI from US FDA

-- PI Industries surges 10 percent after higher-than-expected September quarter while MRF falls nine percent on weak quarter

-- Dr Lal, Metropolis slip eight percent and six percent respectively as valuations remain rich

-- Jubilant Food falls eight percent despite in-line September quarter, Godrej Props and Ramco Cem slip on weak financial results

-- PSU Banks post healthy gains with PNB rising seven percent, BoB five percent and Canara more than one person

-- Market breadth neutral with advance-decline ratio at 1:1

Important to have a view on Nifty: Sanjay Parekh

"Our view on market was that one would slowly gradually accumulate. We did participate in the whole rise. And also we had an outperformance around 3.5 percent. That's the process we followed. But it is certainly important to have a view on Nifty, which is our benchmark, and that we did judiciously, and also, of course, a little bit cautiously in terms of our entry price," says Sanjay Parekh, Founder & CIO of Sohum Asset Managers.

Rupee ends higher at 81.44 vs dollar

Look at SBI, Bank of Baroda and Canara Bank in PSU space: Kush Bohra
“On technical basis State Bank of India has just begun its rally and so I would recommend investors to hold on to the stock. If investors are looking at PSU space then the only three stocks that you should ideally look at is SBI, Bank of Baroda and Canara Bank,” says Kush Bohra of Kushbohra.com.

“State Bank of India is one of the best banks but looking at the current situation and the kind of run-up that the stock has shown, I would say that booking profits is a good idea. If investors get the stock in a correction around Rs 550, it would be a great entry point in SBI. So in the short term investors can book profits,” says Vijay Chopra of Enochventures.com.

Siemens sets production facility for bogies in Aurangabad

Planning to launch 10+ products in the next 7-8 months: Rajesh Aggarwal

“Our new products are doing pretty good. We have divided our range into Maharatna and Focus Maharatna. Our product pipeline is also very strong, we are planning to launch more than 10 products in next 7-8 months,” says Rajesh Aggarwal, MD, Insecticides.

Sequent Scientific shares tumble after quarterly net loss

Shares of Sequent Scientific Ltd, a leading animal healthcare company, tumbled as much as 8 percent on Wednesday after the company reported a consolidated net loss of Rs 3.75 crore in the September quarter. (Read more)

Company’s label manufacturing capacity will increase 2x by end of January 2023: Laxman J Rao of Mold-Tek Packaging

NALCO reports September quarter earnings

The Navratna CPSE's net profit for the period under review came at Rs 170 crore, down 77.3 percent from Rs 748 crore reported in the year-ago period. (Read more)

We will raise faucetware production to 4 lakh pieces/month from 3 lakh currently: Ayush Bagla of CERA Sanitaryware

Buy Voltas, Poly Medicure: Aditya Agarwal

Here are two recommendations by Aditya Agarwal of Way2wealth Securities:
-- Buy Voltas with a target price of Rs 880-900
-- Buy Poly Medicure for a target of Rs 1,100 with a stop loss at Rs 1,050 

SPARC in licensing agreement with Sun Pharma to market Phenobarbital Injection in the US

Buy AU Small Finance Bank, sell Berger Paints: Mitessh Thakkar

Here are two recommendations by Mitessh Thakkar of earningwaves.com:
-- Buy AU Small Finance Bank for a target of Rs 675 with a stop loss at Rs 630 
-- Sell Berger Paints for a target of Rs 570 with a stop loss at Rs 600 

Remain confident of achieving 30% growth in FY23: Ittira Davis of Ujjivan Small Finance Bank