Stock Market HIGHLIGHTS: Sensex ends 317 pts lower, Nifty gives up 17,950 amid negative global cues; Adani Ent, Trans bleed
Stock Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 finished the last session of the trading week lower, halting a three-day winning run. Losses across global markets sent negative signals to Dalal Street as a US inflation reading brought back fears about a prolonged period of aggressive hikes in benchmark interest rates.
Catch all the market action, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, financial results, investment ideas and stock picks — and much more — only on Zeebiz.com's blog:
Stock Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 finished the last session of the trading week lower, halting a three-day winning run. Losses across global markets sent negative signals to Dalal Street as a US inflation reading brought back fears about a prolonged period of aggressive hikes in benchmark interest rates.
Catch all the market action, market commentary and analysis, the views of Zee Business Managing Editor Anil Singhvi and other experts, financial results, investment ideas and stock picks — and much more — only on Zeebiz.com's blog:
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Stock Market Update | Sensex slumps 317 pts but manages to defend 61,000, Nifty50 below 17,950
Both headline indices finish the day 0.5 per cent lower. The Sensex sheds 316.9 points to end at 61,002.6 and the Nifty50 settles at 17,944.2, down 91.7 points from its previous close.
Here's how the gauges moved through the day:
Sensex
Nifty50
Market Snapshot | Sensex, Nifty50 set to halt three-day winning run amid losses across most sectors
Barring the Nifty Oil & Gas, which is up 0.2 per cent, all of NSE's sectoral indices are in the red 10 minutes before the closing bell, with the Nifty Realty being the worst hit.
The Nifty Bank, IT, Pharma, PSU Bank, Private Bank and Healthcare indices are struggling with losses of more than one per cent each.
| Index | Change (%) |
| NIFTY REALTY | -1.75 |
| NIFTY PSU BANK | -1.49 |
| NIFTY PRIVATE BANK | -1.25 |
| NIFTY IT | -1.21 |
| NIFTY PHARMA | -1.18 |
| NIFTY HEALTHCARE INDEX | -1.17 |
| NIFTY BANK | -1.14 |
| NIFTY METAL | -0.8 |
| NIFTY FINANCIAL SERVICES | -0.79 |
| NIFTY MEDIA | -0.7 |
| NIFTY AUTO | -0.52 |
| NIFTY CONSUMER DURABLES | -0.52 |
| NIFTY FMCG | -0.25 |
| NIFTY OIL & GAS | 0.16 |
Bharti Airtel, Vodafone Idea slip deeper into the red after TRAI meet
Bharti Airtel shares decline by as much as Rs 14.9 or 1.9 per cent to Rs 770.1 apiece on BSE, and the Vodafone Idea stock slumps 5.7 per cent to Rs 7.1 apiece at the worst level of the day.
Earlier in the day, telecom regulator TRAI called a meeting with telecom operators to discuss steps towards improving the quality of service in the industry. The meeting comes at a time when the industry is marred by call drops and patchy networks as India gears up for countrywide 5G services.
TRAI bats for stricter norms to counter issues such as call drops and slow internet speeds. The regular stresses on tougher quality of service (QoS) norms, including higher penalty for faulty service or failure to meet claims.
The meeting also discusses the quality of 5G services.
Stock Market Tips LIVE | Vikas Sethi recommends buying Star Cement, SW Solar for short term
In an interaction with Zee Business Managing Editor Anil Singhvi, Vikas Sethi of Sethi Finmart shares two short-term stock picks:
He recommends buying Star Cement (STARCEMENT) shares for a target of Rs 120 with a stop loss at Rs 105. He also suggests buying Sterling and Wilson Renewable Energy (SWSOLAR) shares for a target of Rs 315 with a stop loss at Rs 290.
Stock Market LIVE Today | Sensex slumps over 500 pts, Nifty50 slides below 17,900 — on track to finish lower after rising for three days
Both headline indices fall as much as 0.8 per cent less than 90 minutes from the closing bell. The Sensex sheds 508.8 points to hit 60,810.7 on the downside at the weakest level of the day so far, and the Nifty50 slides to as low as 17,884.6, down 151.3 points from its previous close.
Sensex
Nifty
Sensex, Nifty50 at day's lows as all sectors succumb to selling pressure
Sanjiv Bhasin's three recommendations in Nifty Bank universe: Buy Federal Bank shares, buy SBI shares, buy IndusInd shares
Sanjiv Bhasin of IIFL Securities shares three 'buy' calls to play the opportunity in the banking basket:
- Buy Federal Bank for a target of Rs 135 with a stop loss at Rs 124.5; "best performing midcap bankin midcap space"
- Buy SBI for a target of Rs 575 with a stop loss at Rs 515
- Buy IndusInd Bank for a target of Rs 1,200 that he expects the stock to reach in the next three days with a stop loss at Rs 1,090
Stock Market LIVE Today | Sanjiv Bhasin calls fall in Nifty Bank an opportunity
In an interaction with Zee Business, Sanjiv Bhasin of IIFL Securities says the banking index is poised to reach levels of 43,000 in the next 15 days. He is of the view that the sector's credit growth, margin expansion and capex are looking "very strong".
Stock Market Tips LIVE | Buy V-Guard, JBM Auto shares, says Vikas Salunkhe
Vikas Salunkhe of Nirmal Bang Securities has two 'buy' calls today:
- Buy JBM Auto for a target of Rs 580 with a stop loss at Rs 524
- Buy V-Guard for a target of Rs 272 with a stop loss at Rs 238
The JBM Auto stock has grown about one-third in size in the past six months, a period in which the Nifty50 benchmark has largely remained flat.
Stock Market Tips LIVE | Sell Federal Bank, buy Pidilite, says Siddharth Rai Mangala
StockBox Tech's Siddharth Rai Mangala shares two stock picks:
- Buy Pidilite Industries for targets of Rs 2,365 and Rs 2,375 with a stop loss at Rs 2,310
- Sell Federal Bank futures for targets of Rs 123 and Rs 121 with a stop loss at Rs 130.5
Stock Market Tips LIVE | Siddharth Rai Mangala recommends buying Nifty Bank 41,100 put call option
Siddharth Rai Mangala of StockBox Tech suggests buying the monthly 41,100 put call option of Nifty Bank for targets of Rs 360 and Rs 375 with a stop loss at Rs 175.
The Nifty Bank is quoting 486 pts or 1.2 per cent lower at 41,145.4 at this hour, closer to the lower end of its intraday range today. The banking index has broadly moved within the 41,100-41,550 band so far today.
Stock Market Tips LIVE | Buy NTPC, Asian Paints shares, says Ruchit Jain
Ruchit Jain of 5Paisa shares two stock picks with Zee Business viewers:
- Buy NTPC for a target of Rs 177 with a stop loss at Rs 165
- Buy Asian Paints for a target of Rs 2,920 with a stop loss at Rs 2,790
Stock Market Tips LIVE | Rahul Sharma recommends buying JSW Steel, Larsen & Toubro shares
Rahul Sharma of JM Financial Services shares two stock recommendations on Zee Business:
- Buy JSW Steel for targets of Rs 750 and Rs 775 with a stop loss at Rs 720
- Buy L&T for targets of Rs 2,300 and Rs 2,350 with a stop loss at Rs 2,150
Shilpa Medicare, TCNS Clothing, BASF India top gainers in BSE 500 universe
Around 230 stocks in the broadest index on the bourse are in the green zone at noon.
