CLOSING BELL: IT, Power stocks logged significant losses, even as select financial stocks gained.

NSE, national stock exchange, nifty50

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		<strong>STOCK MARKET HIGHLIGHTS</strong></div>
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		The S&P BSE Sensex opened with a negative gap of 420 points at 60,485, weighed by weak global cues after the US Federal Reserve hiked interest rates by 75 baiss points.&nbsp;</div>
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		The BSE index, however, soon recouped losses and rebounded into the positive zone, gaining as much as 509 points from the day&rsquo;s low. However, the benchmark evenutally slipped back into red, and ended with a minor loss of 70 points at 60,836.</div>
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		The NSE Nifty 50 was down 30 points at 18,053 at close on Thursday.<br />
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		&quot;Fed&#39;s refusal to tone down the rate hike narrative shattered the global markets as investors were in expectation of a dovish commentary. Powel cautions that the desired fed rate level is higher than expected, even though he indicated a rate hike of less than 75 bps in the upcoming meetings. On the back of concerns about the US recession, IT stocks led the domestic selloff, while FII support helped limit the losses&quot;, said Vinod Nair, Head of Research at Geojit Financial Services.<br />
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			Among the Sensex 30 stocks, Tech Mahindra shed 2.5 per cent. PowerGrid Corporation, NTPC, Infosys, Wipro, HDFC and TCS were down 1-2 per cent each. On the positive front, SBI gained nearly 2 per cent ahead of its Q2 results. <a href="https://www.business-standard.com/article/markets/sbi-gains-2-hits-new-high-ahead-of-q2-results-on-saturday-122110300881_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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				Titan, Bharti Airtel and Hindustan Unilever were the other prominent gainers.</div>
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				In the broader market, the BSE Midcap and Smallcap indices ended marginally higher. The overall breadth too was slightly positive, with nearly 1,800 shares advancing versus 1,670-odd declining stocks on the BSE.</div>
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			Sectorally, the BSE IT and Power indices slipped over a per cent each. The Auto index was the other notable loser.&nbsp;&nbsp;</div>
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	Among individual stocks, shares of <strong>M&M Financial Services</strong> soared 13.5 per cent despite 55 per cent YoY decline in net profit to Rs 492 crore in Q2FY23. <a href="https://www.business-standard.com/article/markets/m-m-financial-services-surges-9-on-healthy-business-growth-in-q2fy23-122110300235_1.html?1667449362" target="_blank"><strong>READ MORE</strong></a></div>
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	Besides, shares of <strong>Varun Beverages</strong>&nbsp;extended its rally to the third day after the company reported a strong set of numbers for the third quarter ended September 2022 (Q3CY22). <a href="https://www.business-standard.com/article/markets/varun-beverages-soars-12-in-3-days-nears-record-high-on-strong-q3-results-122110300288_1.html?1667451307" target="_blank"><strong>READ MORE</strong></a></div>
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Sensex recoups 350pts from day's low, ends flat; Nifty holds 18K; SBI up 2%

Business Standard

Sensex recoups 350pts from day's low, ends flat; Nifty holds 18K; SBI up 2% | News on Markets - Business Standard

Adani Transmission down 1% as Q2 PAT declines 32% YoY

The company on Wednesday reported a 32 per cent dip in its consolidated net profit at Rs 194 crore in September quarter compared to year ago.&nbsp;

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M&M Financial soars over 7% despite weak profit in Q2

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SECTORS | IT pocket slips the most, PSBs lead winner

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BROADER MARKET | Small-caps, mid-caps outperform benchmarks

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NIFTY DRAGS | Tech M, Hindalco, Wipro shed up to 2%

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NIFTY GAINERS | Bajaj Auto top index winner, up 1.7%

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HEATMAP | 8 of 30 stocks in green; Titan leads gains

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OPENING BELL | Nifty weakens by 70 points

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OPENING BELL | Sensex opens 300 points lower

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PRE-OPEN SESSION | Nifty likely to drop below 18K

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PRE-OPEN SESSION | Sensex down nearly 400 points

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CURRENCY ALERT | Rupee opens 10 paise weaker at 82.88/$

Stocks to Watch: Wipro, Dalmia Bharat, JK Cement, HDFC, Rail Vikas Nigam

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	<strong>Adani Transmission</strong>: The board granted in-principle approval for issuance of non-convertible debentures worth up to Rs 1,500 crore. The company on Wednesday reported a 32 per cent dip in its consolidated net profit at Rs 194 crore in September quarter compared to year ago, mainly due to adverse forex movement adjustment.&nbsp;</div>
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	<strong>Dalmia Bharat</strong>: Cement maker Dalmia Bharat Ltd on Wednesday reported a 76.84 per cent decline in consolidated net profit at Rs 47 crore for the quarter ended September. Its revenue from operations increased 15.11 per cent to Rs 2,971 crore in the quarter. <a href="https://www.business-standard.com/article/markets/stocks-to-watch-today-wipro-dalmia-bharat-jk-cement-hdfc-rail-vikas-nigam-jsw-steel-jk-paper-122110300150_1.html" target="_blank"><strong>Read more</strong><br />
	<img alt="Between December 2020 and February 2021, traders were supposed to maintain at least 25 per cent of the peak margin" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-04/10/full/1649610790-9703.jpg?im=Resize,width=640" /></a></div>

Oil prices slip as dollar firms, but supply worries check losses

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	Brent crude shed 44 cents, or 0.5%, to $95.72 a barrel at 0146 GMT, while US West Texas Intermediate (WTI) crude futures retreated 59 cents, or 0.7%, to $89.41. <a href="https://www.business-standard.com/article/international/oil-prices-slip-as-dollar-firms-but-supply-worries-check-losses-122110300138_1.html?1667445733" target="_blank"><strong>Read more</strong><br />
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DIIs withdraw Rs 1,378 crore from cash mkt on Wednesday