Stock Market Highlights: ICICI Bank bucks the trend as Sensex sheds 617 pts amid broad sell-off, Nifty gives up 17,000

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IT numbers not that impressive across largecap, midcap spaces: Hemang Jani

Hemang Jani of Motilal Oswal Financial Services is of the view that both largecap and midcap IT earnings have not been that impressive. "This theme has played out extremely well. There is a bit of over-ownership. We like the space from a medium- to long-term perspective but given the margin pressure and high expectations that the Street had, I think the sector could go through an extended period of underperformance at this point of time," he says. 

2022 going to be a year of consolidation for market: Nischal Maheshwari

Nischal Maheshwari of Centrum Broking expects the Nifty50 to move in a broad zone of 15,500 to 17,500-18,000-odd levels.

"You have a lot of challenges that continue to be there in at least 1-2 quarters. I don't see basically the market running away even though the domestic support still continues to be very strong," he says.

Indonesia's palm oil ban to impact costs: Parle Products' Mayank Shah

Mayank Shah of Parle Products tells CNBC-TV18 that Indonesia's move to ban palm oil exports will impact its costs. The industry will face a critical challenge going forward, he says.

He is of the view that the country's cannot continue with the ban for long. 

Most companies hedge 40-50 percent of their palm oil exposure, he adds. 

Rupee ends lower at 76.69 vs US dollar

The rupee finishes at 76.69 against the greenback. On Friday, it had settled at 76.48.

Market At Close | Metal, energy, FMCG stocks drag Sensex, Nifty50

Here are some highlights: 

--Nifty Bank in the green helped by ICICI Bank after lender's strong Jan-Mar performance

--Auto stocks outperform market, Bajaj Auto top Nifty gainer

--HDFC twins snap losing streak, HDFC Bank up 1 percent

--42 Nifty50 stocks in the red

--Market breadth favoures bears, advance-decline ratio at 1:4

--FMCG stocks fall amid volatility on Indonesia's palm oil decision

--IT stocks remain under pressure

--Infosys, HCL Tech down 1 percent

--ONGC slips on declining crude oil rates

--Tata Communications extends Friday's losses after Jan-Mar earnings miss estimates

Closing Bell | Sensex down 627 pts, Nifty50 at 16,954

The Sensex falls 617.3 points or 1.1 percent to end at 56,5799 and the Nifty50 settles at 16,954, down 218 points or 1.3 percent from its previous close.

Here's what the BFSI basket looks like in the final seconds of trade

Stock	Price	Change (%)
HDFCBANK	1,369.9	14.3
ICICIBANK	754.4	6.8
CHOLAFIN	716.7	3.2
KOTAKBANK	1,735.5	7.7
HDFC	2,215	8.6
AXISBANK	782.8	2.2
SRTRANSFIN	1,102.3	-5.8
ICICIGI	1,310.5	-7.6
MUTHOOTFIN	1,279.8	-12.5
BAJAJFINSV	15,285.4	-168.8
BAJFINANCE	7,030	-80.8
SBIN	494.9	-5.7
ICICIPRULI	518	-6.1
SBICARD	804.1	-11.3
RECLTD	126.1	-2.4
HDFCAMC	2,008	-38.6
HDFCLIFE	540.9	-13.2
PFC	116	-2.9
PEL	2,114	-59.4
SBILIFE	1,093.8	-43.5

Financial stocks make it to the green, Nifty Bank up 0.3%

Here's what NSE's sectoral indices look like minutes before the closing bell: 

Index	Change (%)
NIFTY REALTY	-3.6
NIFTY METAL	-2.7
NIFTY OIL & GAS	-2.4
NIFTY MEDIA	-2.2
NIFTY IT	-2.1
NIFTY HEALTHCARE INDEX	-2
NIFTY PHARMA	-2
NIFTY FMCG	-1.5
NIFTY CONSUMER DURABLES	-1.3
NIFTY PSU BANK	-1.2
NIFTY AUTO	-1
NIFTY FINANCIAL SERVICES	0.1
NIFTY BANK	0.3
NIFTY PRIVATE BANK	0.4

JSW Steel shares off day's low

JSW Steel shares down by Rs 8.1 or 1.1 percent at Rs 715.6, in some recovery from their intraday  low of Rs 695.3. 

Century Textiles Jan-March net profit at Rs 86 crore

The company reported a net profit of Rs 86 crore for the March quarter, as against a net loss of Rs 8.4 crore for the corresponding period a year ago. The stock jumped as much as 4.4 percent to Rs 918 apiece after the earnings announcement. 

Its revenue increased 44.2 percent on year to Rs 1,210.7 crore, according to a regulatory filing.         

The company's EBITDA increased 66.6 percent to Rs 125.3 crore, and margin by 130 points to 10.3. 

Century Textiles' board announced an interim dividend of Rs 4 per share. 

Mindtree, Sapiens partner to offer software solutions to insurance industry

Mindtree shares are off the day's low, trading with a cut of Rs 135.8 or 3.5 percent at Rs 3,736.2. Earlier in the day, the stock had dropped as much as 4.8 percent. 

Buy Maruti Suzuki, ICICI Bank: Jay Thakkar

Jay Thakkar of Marwadi Shares & Finance shares two trading calls: 

--Buy Maruti Suzuki India for a target of Rs 8,132-8,200 with a stop loss at Rs 7,850 

--Buy ICICI Bank for a target of Rs 787 with a stop loss at Rs 740 

Sell DLF, Delta Corp: Prakash Gaba

Here are two trading calls from Prakash Gaba of prakashgaba.com: 

--Sell DLF for a target of Rs 350 with a stop loss at Rs 368 

--Sell Delta Corp for a target of Rs 260 with a stop loss at Rs 277-278 

SBI Cards partners with TCS to revamp digital experience

TCS shares trade 1.3 percent lower at Rs 3,563.4, having declined as much as 2.2 percent earlier in the day. 

SBI Cards shares 2.2 percent lower at Rs 797.5. During the session, the stock fell as much as 2.7 percent so far.