homemarket NewsMarket Highlights: Sensex ends 168 points lower and Nifty 50 below 17,900

Market Highlights: Sensex ends 168 points lower and Nifty 50 below 17,900

Market Highlights: Sensex ends 168 points lower and Nifty 50 below 17,900
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Summary

Stock Market Highlights: Indian equity benchmarks BSE Sensex and NSE Nifty50 ended lower on Monday on the first trading day of the week dragged by financial, oil and gas shares. Earlier in the session, the indices opened higher. Federal Bank reported its third quarter numbers today. HDFC Bank, Wipro and Avenue Supermarts reported their quarterly numbers over the weekend.

Thank you, readers! That's all from CNBCTV18.com's live market coverage on Jan 16, 2023. Stay tuned for other updates on our website: CNBCTV18.com.

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Jan 16, 2023 4:12 PM

Stock Market Updates | For the long-term investor, this is a time to really build portfolios: Anshul Saigal
"You can't expect Amitabh Bachchan to give hits again and again. And there will be a time after 10 hits where there will be a flaw. And India has been the Amitabh Bachchan of emerging markets. If you look at the last year, India was up 3 percent, while if you compare it to some of the other emerging markets as also developed markets, all of those markets were down big," says Anshul Saigal, Head & Executive VP Kotak PMS. "Take the case of NASDAQ, it was down 25-30 percent, S&P, Dow were down 20 percent, China was up in the last quarter, but it was still down meaningfully from the start of the year as also the other emerging markets and some of that outperformance is being given up in this new start to the year. It is also on account of the budget. Some nervousness exists in the market prior to the budget. And that really is getting reflected in prices just now. For the long-term investor, this is a time to really build portfolios, clearly a bout of uncertainty is welcomed by the long-term investor because it is only in volatility that this investor gets the right prices. And we're seeing that play out today. If this continues for some time, there will be a slew of opportunities available in India."

Jan 16, 2023 4:11 PM

Stock Market Update | Dilip Bhat's view on PSUs
“Taking a long-term view is very difficult, as far as I am concerned, and in the order of pecking, SBI still looks the best and the safest and something like a Canara Bank also looks interesting, but there are small banks away from the PSU banks, for example, South Indian Bank looks interesting, Karnataka Bank looks interesting. So, away from the PSU banks, some of these banks also look very interesting from the current levels,” says market expert Dilip Bhat. 

Jan 16, 2023 4:03 PM

Market at Close | Sensex and Nifty 50 give up initial gains to end lower 

-- IT stocks rise as earnings flow in, Tech M, HCL, Wipro, Infosys top gainers.

-- HDFC Bank slips despite reporting a healthy set of earnings.

-- Adani Ent falls three percent on reports of company filing FPO papers with SEBI.

-- Metals stocks are under pressure as dollar index rises, JSW, JSPL top losers.

-- Delta Corp, ICICI Pru end with gains while ICICI Lombard slips ahead of results.

-- Major private banks remain under pressure with Axis Bank falling the most

-- Federal Bank rises nearly two percent and L&T Fin three percent after a robust set of December quarter earnings. 

-- PVR is top midcap loser, closes four percent lower after a brokerage downgrade.

-- PSU Bank basket surges following a strong set of earnings from Bank of Maharashtra. 

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

Jan 16, 2023 3:38 PM

Rupee Check | Rupee ends lower at 81.61 vs dollar

Jan 16, 2023 3:35 PM

Stock Market News | No immediate announcement w.r.t MD & CEO: CP Gurnani 

-- Travel and logistics is picking up while technology sector is slowing down. 

-- Tech Mahindra will continue to look at inorganic moves.

-- For the time being we will consolidate and create value with what we have acquired

-- Focus is on organic growth, but leadership team will be opportunistic. 

Jan 16, 2023 3:30 PM

Share Market Live | Axis Bank is the top Nifty Bank gainer

-- The stock is trading 2.3 percent lower at this hour. 

-- The shares have fallen in the last five sessions. 

Jan 16, 2023 3:18 PM

Nifty 50 | Nifty 50 is down 0.5%

-- Nifty 50 is trading at 17,864.9. 

--  Adani Enterprises, Axis Bank and JSW Steel are the top Nifty 50 loser, down 1.5 to 2.8 percent.  

-- Tech M, HCL Tech and Infosys are top Nifty 50 gainers, up 1.1 to 2.8 percent.  

Jan 16, 2023 2:55 PM

Stock Market News | This analyst expects Delhivery shares to double in three years

Macquarie has initiated coverage on logistics operator Delhivery with an outperform rating and a price target of Rs 440. While the price target is a 42 percent upside from Friday's closing levels, it is still lower than the company's IPO price of Rs 487. (Read more)

Jan 16, 2023 2:50 PM

Stock Market Update | enochventures.com's Vijay Chopra's view on Bank of Maharashtra 

"If you look at the majority of the PSU banks and especially from the mid and the small cap space, we have already seen a lot of run up in the stocks. Bank of Maharashtra, I would say probably book half and remaining trail with a stop loss of Rs 32, which is near that today is low. So in case the stock comes down and breaches which is the Rs 32 level then on the upside Rs 37 is something can be the target where he can start profit booking and possibly be out at the level of Rs 37."

Jan 16, 2023 2:38 PM

Nifty 50 | Nifty below 100-DMA

Jan 16, 2023 2:26 PM

Share Market Update | Buy IDFC, L&T Finance: Manish Hathiramani

Here are some recommendations by Manish Hathiramani of Deen Dayal Investments:

-- Buy IDFC Ltd for a target of Rs 93.50 with a stop loss at Rs 83.

-- Buy L&T Finance for a target of Rs 101 with a stop loss at Rs 90.

Jan 16, 2023 2:20 PM

Stock Market Update | KPI Green signs new Power Purchase Agreements

- PPAs signed for sale of 6.3 megawatt of solar power
- PPAs signed with Heubach Colour Pvt. Ltd., Sachin Paper Mills Pvt. Ltd., and Alembic Pharma Ltd.
- Shares trading 1.1 percent higher at Rs 867.6

Jan 16, 2023 2:13 PM

Stock Market Update | GPT Infraprojects wins order worth Rs 216 crore

- Order for construction of proposed extensions of Ghatkopar cable stayed road over bridge
- Bridge connects LBS road junction and eastern expressway junction in Mumbai
- Order awarded by Maharashtra Rail Infrastructure Development Corp
- Order value is nearly 66 percent of the company's market capitalisation of Rs 330 crore

Jan 16, 2023 2:10 PM

Share Market Update | Lupin recieves tentitive US drug regulator's tentitive approval for the Dolutegravir and Rilpivirine Tablets 

-- Received tentative approval from the United States Food and Drug Administration for its abbreviated new drug application, Dolutegravir and Rilpivirine Tablets, 50 mg/25 mg.

-- Generic equivalent of Juluca Tablets, 50 mg/25 mg of ViiV Healthcare Company.

-- Dolutegravir and Rilpivirine Tablets, 50 mg/25 mg, (RLD Juluca) had estimated annual sales of $666 million in the US.

Jan 16, 2023 1:32 PM

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