Market Highlights: Sensex ends 241 pts lower, Nifty below 18,150 dragged by financial shares

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Governments across the world are on a path of fiscal consolidation: Pankaj Murarka
"This year has been a year of transition where we have had significant rate hikes. I think next year is going to be a year about macro headwinds, because the cumulative rate hikes that we have had this year will have an impact on growth next year, and most of the governments across the world are on a path of fiscal consolidation. So those low hanging fruits are not there," says Pankaj Murarka, Founder, Renaissance Investment Managers. "And if the world is going to be an environment where we face macro headwinds, then I think what really works well in this kind of environment is companies which have very strong robust business models and it's going to be all about bottom up stock picking. So in that context, I think it's not about sectors or theme, but it's more about specific companies and bottoms up stock picking which is what the next year is going to."

Market at Close | Senex and Nifty end in red for second straight day

-- BSE companies erase market cap of nearly Rs 7 lakh crore in last two days.

-- Broader markets underperform with market breadth firmly in favour of declines.

-- Midcap index falls nearly one percent with advance-decline ratio at 1:6.

-- UPL, M&M, Bajaj Finserv, Eicher, Tata Motors, Indusind are top Nifty losers.

-- Page Ind closes with minor gains despite management expecting a soft third quarter year-on-year.

-- Bandhan Bank erases gains to close five percent lower after binding bid from ARC. 

-- Jubilant Food gains in a weak session with stock rising more than two percent. 

-- Jefferies adding REC to model portfolio lifts REC, stock up two percent.

-- Diagnostic stocks reverse yesterday’s gains, Dr Lal, Metropolis slip three percent each

Rupee Check | Rupee ends higher at 82.76 vs US dollar

Buzzing Stock | Thyrocare shares down more than 12%

Stock Market News | Editor's Take on MPC minutes 

CNBC-TV18 spoke to three external members of the MPC and gathered that the minutes show that hawkishness is outweighing or surpassing the dovish-stance takers. (Read more)

Stock Market Update | RBL Bank hikes lending rates by 10 bps across tenures

Stock Market Update | JK Cement Makes Acquisition

- Definitive agreement to acquire 60 percent stake in Acro Paints for Rs 153 crore
- Remaining 40 percent shall be acquired over a period of 12 months 
- Provides entry into the growing vertical of construction chemicals
- Acquisition of Acro Paints brings strong manufacturing capabilities and comprehensive product formulations, which will scale up to meet the business plan objectives for JK Paints & Coatings over the next few years

Buzzing Stock | PNB Housing Finance

- Volatile moves seen in the stock
- Trading 4 percent higher after recovering from day's low
- Had declined 8 percent on Wednesday
- Has gained in seven out of the last nine trading sessions
- Now up 19 percent over the last nine trading sessions

Stock Market Updates | Buy Tata Communications, KEC International: Dharmesh Shah

Here are some recommendations by Dharmesh Shah, Head – Technical at ICICI Direct
-- Buy Tata Communications for a target of Rs 1,320 with a stop loss at Rs 1,210. 
-- Buy KEC International with a target of Rs 490.

Stock Market News | Strides Pharma gets Rs 525 crore deferred consideration for 2019 Australian operations sale

The company will utilise the proceeds for deleveraging the balance sheet, the pharma major said in a stock exchange filing on Thursday. (Read more)

Stock Market News | Zydus gets final nod and 180-days shared exclusivity from US drug regulator for Selexipag tablets

Stock Market News | Alembic Pharma gets Prior Approval Supplement nod from US drug regulator for Pregabalin capsule 

Buzzing Stock | PNB Housing Finance up over 4% from day's low

Stocks Market News | ZESCO makes first payment of $10 m to MCL after arbitration order

MCL expects ZESCO to make balance payments by end of August 2023.