Market Highlights: Sensex ends over 570 points lower and Nifty 50 above 18,000 — broader indices underperform

Thank you, readers! That's all from CNBCTV18.com's live market coverage on January 17, 2023. Stay tuned for other updates on our website: CNBCTV18.com.

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Share Market Update | Cashthechaos.com's Jai Bala's view on markets

“My sense is that we are definitely going to have a directional break for the market and that is most probably going to be on the downside. The markets went below the December low of 17,774 just by a few points but that is a significant move. The market is driving an important message and it is for technicians to read that. Right now the market is seeing a counter trend bounce and it is a very weak one. So I expect this counter trend bounce to push the markets somewhere close to 18,250-18,400. However if the market for some reason falters before 18,140 and breaks 17,850, then you need to be extremely cautious because the market has a high probability of accelerating lower,” says Jai Bala of Cashthechaos.com.

Market at Close | Sensex and Nifty 50 end near day's high 

-- Last-hour surge helps market close near day’s high, Sensex and Nifty up one percent each

-- Nifty heavyweights (RIL, ICICI, HDFCs) see a sharp move higher in last hour.

-- Midcap relatively underperforms, keeps market breadth in favour of declines.

-- Federal Bank fails to hold gains despite guidance raise, down four percent from highs

-- L&T hits record high, amongst top Nifty gainers in this month

-- ICICI Pru closes with gains while ICICI Lombard ends flat ahead of earnings.

-- Manappuram, Indus Towers, Can Fin, City Union Bank are top Midcap losers

-- Cummins, Tata Comm, Marico, Polycab, MCX, Tata Chem are top Midcap gainers

-- PSU Banks see profit booking after BoI earnings, Nifty PSU Bank down two percent

-- Market breadth favours declines, advance-decline ratio at 3:4

Rupee Check | Rupee ends 15 paise lower at 81.76 vs US dollar

Share Market News | Bank of India looks to raise Rs 1500 crore via QIP soon

Public sector lender Bank of India (BoI) is looking to raise funds worth Rs 1,500 crore via qualified institutional placement (QIP) soon, AK Das, MD & CEO, Bank of India said on Tuesday after the company’s quarterly financial results announcement. (Read more)

Share Market Live | Gland Pharma large trade 

5.52 lakh shares or 0.33 percent equity worth Rs 78.55 crore change hands at an average of Rs 1,420/share

Share Market News | Motilal Oswal shares top PSU Bank picks

India's state-run lenders can deliver returns of as much as 30 percent over the next 12 months, according to broking firm Motilal Oswal. (Read more)

Share Market Live | CDSL shares down 1.2%

-- The stock is trading at Rs 1,057.8, 1.2 percent lower. 

-- The shares have fallen in the last 11 trading sessions.  

Stock Market Updates | Expect revenue of Rs 100 crore from the new launched product: Dheeraj Kumar Jain of India Pesticides 

Here are other takeaways from Jain's interaction with CNBC-TV18:

-- If capacity utilisation rises, rev from new product will be around Rs 150-160 crore.
-- Will invest Rs 100 crore every year for four years at subsidiary at Shalvis Specialties.
-- Will be commercialising one more molecule in March 2023.

Insurance earnings preview | Sector to see rebound in third quarter — value of new biz to grow between 12-39%

The insurance sector is set to see a rebound in third quarter of financial year 2022-23 and this is visible in their retail Annual Premium Equivalent (APE). In Q3, industry retail APE has seen a growth of 12 percent year-on-year led by private insurance players who saw a growth of 16 percent YoY, while LIC grew 6 percent YoY. (Read more)

Stock Market Updates | Buy Cummins India, RCF: Shrikant Chouhan

Here are two recommendations by Shrikant Chouhan, EVP, Kotak Securities:
-- Buy Cummins India for a target of Rs 1,550-1,575 with a stop loss at Rs 1,400. 
-- Buy RCF for a target of Rs 145-150 with a stop loss at Rs 115.

Stock Market Update | Metro Brands reports Q3 Earnings (Comparison YoY)

- Revenue up 23.8 percent to Rs 598.7 crore from Rs 483.7 crore
- Net profit up 10.6 percent to Rs 112 crore from Rs 101.3 crore
- EBITDA up 22.3 percent at Rs 205.2 crore from Rs 167.8 crore
- EBITDA margin at 34.3 percent from 34.7 percent
- Shares are trading 1 percent lower at Rs 841.5.

Share Market Live | Network18 Media and Investments reports December quarter earnings
 
-- Operating revenue up 11.6 percent at Rs 1,850.5 crore vs Rs 1,657.4 crore year-on-year

-- EBITDA down 99.5 percent at Rs 1.7 crore vs Rs 373.1 crore year-on-year 

-- Margin at 0.1 percent vs 22.6 percent year-on-year.

Stock Market Update | LKP Securities' Avinash Pathak's view on FMCG Sector

"FMCG stocks have shown some recovery on the back of easing inflation and anticipation of better margins ahead. However, on the demand front, no incremental improvement or deterioration in underlying demand trends across urban or rural markets is expected. Rural demand is likely to remain tepid due to continued inflationary pressures on rural consumers’ wallets, which would result in down trading to smaller packs and brands," says Avinash Pathak, Research Analyst at LKP Securities.

Share Market Update | Nykaa shares drop for the fourth straight day to register another record low

Multiple investors have sold stakes in Nykaa through large deals since the lock-in period of the company ended on November 10 last year, freeing up 310 million shares for a potential sale. (Read more)