Homemarket News

    Stock Market Highlights: Sensex ends 465 pts higher and Nifty50 reclaims 17,500 as market extends gains to 2nd day

    Stock Market Highlights: Sensex ends 465 pts higher and Nifty50 reclaims 17,500 as market extends gains to 2nd day

    Stock Market Highlights: Sensex ends 465 pts higher and Nifty50 reclaims 17,500 as market extends gains to 2nd day
    Read Time
    1 Min(s) Read

    Summary

    Stock Market Highlights: Indian equity benchmarks BSE Sensex and NSE Nifty50 extended gains to a second straight session on Monday, as Dalal Street entered a four-session trading week. Gains across most sectors powered the upmove in headline indices, with financial, auto and metal shares being the biggest contributors. The Nifty Midcap 100 and Nifty Smallcap 100 indices rose 0.3-0.4 percent, reflecting the overall gain in the market. The stock market will remain shut on Tuesday for Muharram.

    Live Updates

    Thank you, readers! That's all from CNBCTV18.com's live market coverage on August 8, 2022. The market will be closed for Muḥarram on Tuesday, and resume trade on Wednesday. 

    Stay tuned for other updates on our website: CNBCTV18.com.

    You can follow us on Twitter: @CNBCTV18Live @CNBCTV18News

    And on FacebookLinkedInInstagram and Telegram

    Download our mobile app for Android and iOS platforms

    Bharti Airtel net profit falls 20% to Rs 1,607 crore in Apr-June, misses Street estimates

    Analysts in a CNBC-TV18 poll had estimated the telecom major's quarterly net profit at Rs 2,472 crore. 

    Bharti Airtel's average revenue per user (ARPU) — a key measure of profitability for telecom operators — improved to Rs 183 for the April-June period, as against Rs 146 for the corresponding period a year ago. 

    Stock Market Highlights: Sensex ends 465 pts higher and Nifty50 reclaims 17,500 as market extends gains to 2nd day

    Rupee ends lower at 79.66 vs dollar

    On Friday, the rupee had settled at 79.23 against the greenback.

    Stock Market Highlights: Sensex ends 465 pts higher and Nifty50 reclaims 17,500 as market extends gains to 2nd day


    Market Ends With Gains, Rises To A 4-Month High

    Sensex & Nifty Rise Nearly 1%, Nifty Ends Above 17,500

    Reliance, HDFC Twins Lead Market Higher While SBI & Infosys Drag

    SBI & BPCL Top Nifty Losers On Weaker-than-expected Q1 Earnings

    Britannia & HUL End With Cuts As Palm Oil Rises 6%

    Adani Ports Slips 0.5% In The Last Hour Following Earnings Report

    MGL Ends More Than 4% Higher After Earnings In-line With Estimates

    HPCL Slips Nearly 5% After Company Reports Loss Of `10,197 Cr

    Marico Ends 1% Higher On In-line Earnings & +Ve Mgmt Commentary

    Petronet LNG 2.5% Lower Following Margin Loss Of 300 bps

    NMDC Surges 2% Following Earnings Above Estimates

    Paytm Ends 6.5% Higher After Company Reports Loss Below Estimates

    Sensex Rises 465 Points To 58,853 & Nifty 127 Points To 17,525

    Nifty Bank Gains 316 Points To 38,237 & Midcap Index 107 Points To 30,366

    Market Breadth Favours Advances, Advance-Decline Ratio At 1:1

    Stock Market Highlights: Sensex ends 465 pts higher and Nifty50 reclaims 17,500 as market extends gains to 2nd day

    Overweight financial space, added to our porisions heading into earnings season: Trideep Bhattacharya 

    Trideep Bhattacharya, CIO-Equities at Edelweiss AMC, believes that domestic cyclicals are the way to be if earnings are bottoming out.

    "If domestic cyclicals are going to do well, along with the economy, lenders or lending financials are likely to do better as well. So reflective of these views, we have taken an increasingly positive look on financials over the last couple of months," he tells CNBC-TV18.

    Power stocks gain as Electricity Amendment Bill introduced in parliament amid protests

    The Indian power stocks were on a rise on Monday as the central government today introduced the Electricity (Amendment) Bill, 2022 in the Lok Sabha amid protests by opposition parties. At 12:47 pm the S&P BSE Power index climbed 1.48 percent to 4765.2 on the BSE. (Read more here)

    Paytm shares scale 5-month peak as Street puts faith in path to profitability

    After market hours on Friday, Paytm reported revenue of Rs 1,679.6 crore for the April-June period, as against Rs 890.8 crore for the corresponding period a year ago. The Paytm stock surged by as much as Rs 52.9 or 6.7 percent to Rs 836.5 apiece on BSE — its highest intraday level since February 23.

    Stock Market Highlights: Sensex ends 465 pts higher and Nifty50 reclaims 17,500 as market extends gains to 2nd day

    AstraZeneca at day's high

    Stock Market Highlights: Sensex ends 465 pts higher and Nifty50 reclaims 17,500 as market extends gains to 2nd day

    Will benefit from improving margin: Dinesh Kumar Khara of SBI
    Chairman Dinesh Kumar Khara on Monday said that India's largest lender will benefit from improving margin going ahead as a result of a lag in deposit rate hike even as lending rates see a quicker transmission with an increase in policy rate by RBI.
    The shares of SBI fell nearly 3 percent on Monday after the bank reported a weak set of earnings for the first quarter of financial year 2023 with the profit declining against an expectation of a growth. (Read more here)

    Stock Market Highlights: Sensex ends 465 pts higher and Nifty50 reclaims 17,500 as market extends gains to 2nd day

    Buy call on SBI: Vishal Malkan
    Vishal Malkan of malkansview.com said that SBI had a good run-up in the last few days when Nifty has a good move upside. "But in the last 3-4 days there is correction of almost 10 percent, I think couple of more percentage down we can look at support around Rs 500. So around that Rs 500 levels is a good support where we can take a buy call on this one."

    Here are other recommendations by Vishal Malkan:
    -- Buy BEL for a target of Rs 310 with a stop loss at Rs 272 
    -- Buy Vedanta for a target of Rs 275 with a stop loss at Rs 250 

    Reliance, HDFC twins, Axis Bank and L&T top boosts for Nifty50

    Stock Market Highlights: Sensex ends 465 pts higher and Nifty50 reclaims 17,500 as market extends gains to 2nd day
    Stock Market Highlights: Sensex ends 465 pts higher and Nifty50 reclaims 17,500 as market extends gains to 2nd day

    Paradox on economy-market connect playing out: Geojit's VK Vijayakumar

    VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, points out that there is a paradox at play in the market, where good news on the economic front can turn out to be bad news for the markets. "The robust US jobs data for July indicates a strong US economy, nowhere near recession. This means the Fed might hike rates by another 75 basis points in September to cool the economy to contain inflation. Therefore, there can be a near-term strengthening of the dollar. It remains to be seen how FIIs will react to this," he says. 

    Growth impulses in India are strong, with indicators such as bank credit growth, capacity utilisation in manufacturing and auto demand suggesting a strong rebound, he says.

    Go long on ICICI Bank Rs 840 strike call: Religare Broking's Manoj Murlidharan

    Manoj Murlidharan, VP-Derivatives at Religare Broking, suggests going long on the Rs 840 strike call of ICICI Bank. 

    "Try to take a call option premium at Rs 12-14 with a stop loss at Rs 7. It has the potential to go to Rs 24-26,” he says. 

    Buy Axis Bank, Siemens: Aditya Agarwala

    Here are two recommendations by Aditya Agarwala of Invest4edu:

    --Buy Axis Bank for a target of Rs 770 with a stop loss at Rs 720

    --Buy Siemens for a target of Rs 2,900 with a stop loss at Rs 2,700

    SBI numbers very good: Prakash Diwan

    Market expert Prakash Diwan says SBI's overall quarterly performance is good in his view. "There is a slight miss in terms of earnings, which were slightly below estimate... I would fault it for that. What is interesting is that the operational part, the expansion of the NIMs, the way they have been able to kind of get growth even in this challenging environment and of course the improvement in quality of the book," he says. 

    "All of it stands out very clearly as a as the continuation of a larger trend. Going forward, when you buy a stock, it is more from the perspective of the next few quarters... I think they will have very significant improvement in margins going forward, which is going to be great to see on the P&L book... I think it is a great entry point if you get it on a dip today," he adds. 

    SBI puts pressure on headline indices

    Stock Market Highlights: Sensex ends 465 pts higher and Nifty50 reclaims 17,500 as market extends gains to 2nd day

    Expect 19-20% earnings growth for Indian companies: Standard Chartered Bank's Abhilash Narayan

    Abhilash Narayan, Senior Investment Strategist-Group Wealth Management at Standard Chartered Bank, tells CNBC-TV18 he expects earnings growth for Indian companies to come in at 19-20 percent going forward.

    "That is far higher than what we expect for most other major global markets. So a strong economic backdrop, strong consumer demand, robust earnings growth and the fact that positioning is quite light from an international perspective, all point towards Indian markets making new highs in the next 6-12 months,” he says. 

    Stock Market Highlights: Sensex ends 465 pts higher and Nifty50 reclaims 17,500 as market extends gains to 2nd day

    Rupee opens lower at 79.45 vs dollar

    On Friday, the rupee had settled at 79.23 against the greenback.

    Stock Market Highlights: Sensex ends 465 pts higher and Nifty50 reclaims 17,500 as market extends gains to 2nd day

    Sensex up 30 pts at the open

    Stock Market Highlights: Sensex ends 465 pts higher and Nifty50 reclaims 17,500 as market extends gains to 2nd day

    Asian shares in the red

    Equities in other Asian markets are largely negative on Monday, following a mixed session on Wall Street. MSCI's broadest index of Asia Pacific shares outside Japan is down 0.6 percent.

    --Japan's Nikkei 225: down 0.6 percent

    --Hong Kong's Hang Seng: down one percent

    --China's Shanghai Composite: flat

    --S&P 500 futures: up 0.1 percent 

      Most Read

      Market Movers

      View All
      CompanyPriceChng%Chng