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Aug 3, 2022 3:50 PM

Market At Close | Sensex and Nifty50 outperform broader indices

Here are some highlights:

--Sensex and Nifty rise for 6th straight day

--ICICI Bank, Reliance, IT stocks lift Nifty

--Four-wheeler maker stocks see profit booking — Maruti and Tata Motors fall two percent

--ITC sees profit booking following strong earnings

--Indus Towers top midcap loser with six percent fall on weak results

--Siemens and Bosch fall and Deepak Nitrite off day's low post earnings

--Godrej Consumer dips amid volatile trade post earnings

--Balrampur, Concor, Vodafone Idea, Bharat Forge, ABB top midcap losers

--Nippon, Atul, Birlasoft, Persistent, L&T Infotech, Indian Hotels top midcap gainers

--Market breadth favours the bears — advance-decline ratio at 1:2

Aug 3, 2022 3:40 PM

Rupee ends lower at 79.16 vs US dollar

On Tuesday, the rupee had settled at 78.71 against the greenback.

Aug 3, 2022 3:37 PM

Power is an annuity business in long run: Sudip Bandopadhyay

Sudip Bandopadhyay, Group Chairman of Inditrade Capital, tells CNBC-TV18 that demand for power is going to rise in a developing country like India. If you are an investor not looking at something structurally benefiting out of any structural change in the market, power is a safe long-term bet, he says.

"If somebody has to play very safe, I would recommend NTPC. I think a lot of exciting things are happening. Apart from being one of the largest power producers in the world, they have a green energy strategy also in place. Because of the PSU factor, they often trade at a discount to their private sector peers. But I think for a long term investor at the current level, NTPC definitely looks good," he adds.

Aug 3, 2022 3:35 PM

Positive on Bank of Baroda: Sharad Avasthi

Sharad Avasthi, Head PCG Research at SMIFS, finds PSUs attractive and is positive on Bank of Baroda. "The whole capex flow and everything that the government has been talking about should lead very firm growth to the corporate loan book where the focus is largely from the PSU banking side; from the non-PSU banking side, the larger focus is on the retail side... This is very positive for these banks and over the last 4-5 years, the type of clean-up that we have seen the books on the balance sheet side and much healthier position as on date," he says.

He suggests investors to hold Bank of Baroda sahres for a target of Rs 180 for 16-18 months.

Aug 3, 2022 3:31 PM

Buy Persistent, sell IGL: Aditya Agarwala

Aditya Agarwala of Invest4edu shares two trading calls:

--Buy Persistent Systems for a target of Rs 3,950 with a stop loss at Rs 3,600

--Sell Indraprastha Gas for a target of Rs 320 with a stop loss at Rs 360-362

Aug 3, 2022 1:47 PM

Here's what the rest of the FMCG basket looks like

Aug 3, 2022 1:24 PM

Godrej Consumer Products revenue rises 8%, meets Street expectation

Godrej Consumer shares manage to trim intraday losses after the earnings announcement. The stock is down 0.9 percent at Rs 857.2 apiece on BSE, having fallen as much as 2.7 percent earlier in the day.

"We continue to believe that with the relatively non-discretionary, mass pricing of our portfolio and very good performance on market shares, volume growth will return in the medium term," says Sudhir Sitapati, CEO, Godrej Consumer Products.

He says the fall in EBITDA is on account of unprecedented global commodity inflation, upfront marketing investments and a weak performance in the company's Indonesia, Latin America and SAARC businesses.

Aug 3, 2022 1:12 PM

Aug 3, 2022 12:41 PM

Strides Pharma receives US regulatory nod for transplant rejection prevention drug

The drug maker received approval of the US Food and Drug Administration for Cyclosporine Softgel capsules, used in the prevention of rejection of a transplant.

Aug 3, 2022 12:11 PM

Sources say Cabinet may consider increasing sugarcane FRP by Rs 15/quintal

Aug 3, 2022 11:47 AM

Market construct has become a little benign: Harendra Kumar

Harendra Kumar, Managing Director at Elara Securities, tells CNBC-TV18 that in his view, the construct of the market has become a little benign. "From fear to a little bit of hope... That's what's under play at the moment," he says.

"My guess is that this trade of repricing inflation, a moderate interest rate scenario, lower crude oil prices, a strengthening rupee and a weakening dollar is going to remain here for at least till 18,000 on the Nifty," Kumar adds.

Aug 3, 2022 11:14 AM

India composite PMI at 56.6 in July vs 58.2 in previous month

The services PMI hits the lowest level in four months.

Aug 3, 2022 10:36 AM

Expect US-China-Taiwan issue to be a diplomatic theatre: Adrian Mowat

Emerging equity markets strategist Adrian Mowat tells CNBC-TV18 that the markets are already in an environment where there is a lot of stress on the US-China relationships front.

"We do have tariffs against Chinese goods. So I do not really see the actual fundamental situation deteriorating because of this. Remember that we have the leaders of both China and the US on a phone call last week. I think there is probably a lot going on in the background, just to try and ease some of the concerns out of this situation," he says.

Aug 3, 2022 10:21 AM

Continuation of FII buying may impart resilience to market: VK Vijayakumar

VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, is of the view that sustained FII buying may impart resilience to the market. "FIIs turning buyers, short covering by the bears and active retail participation have led to a 14 percent recovery in Nifty from its June lows. This has pushed the market to overbought territory," he says.

"Investors should exercise caution since a global growth slowdown is serious and has the potential to impact exports from emerging markets like India. This is already visible in the July trade data. Additionally, the new tensions arising from Nancy Pelosi's visit to Taiwan and China's sharp reaction to that has emerged as an irritant. Investors have to be cautious," he adds.

Aug 3, 2022 10:09 AM

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