Stock Market Sort: Indian Equity Benchmark BSE Sensex and NSE NIFTY50 Slid to a closed position two months on Monday, expanding losses to successive sessions. Weaknesses throughout the global market about concerns about interest rate rising and tightening tightening in Shanghai which triggered concerns about global economic growth to reduce sentiment in Dalal Street. Except, all sectors are in red. Oil & gas, finance, consumer and metal shares are the biggest obstacles in both headline indexes. The wider market suffers from deep discounts, with 100 Midcap and a good Smallcap 100 index down each other each.

Thank you, readers! That’s all from CNBCTV18.com’s live market coverage on May 9, 2022. Stay tuned for other updates on our website: CNBCTV18.com.

Rupee depreciation a short-term margin tailwind for IT space: Gurmeet Chadha

Gurmeet Chadha, one of the founders and CEO of a complete circle consultant, believes the depreciation of currencies is a short -term margin attraction for IT space.

“If there is an ongoing depreciation, it gets prices into a contract both in renewable energy or both in terms of new contracts … this is a very competitive world out there … This is the year where you have to pay naturally for that The growth that you project, “he told CNBC-TV18.

Earnings downgrades of 3-5% not ruled out with modest inflation impact: BNP Paribas India’s Abhiram Eleswarapu

Abhiram Eleswarapu, Head of Indian equity at BNP Paribas India, told CNBC-TV18 that the main income has not been truly affected by inflation so far. “We have not seen the decline in revenue ratings so far to be honest and it is mainly because you have several upstream companies or commodity suppliers where income has been increased, and energy companies, for example, have compensated , “he said.

“We have not seen the second impact of inflation, that’s when the demand began to be injured when prices rise. Now, that hasn’t happened,” he added.

Market At Close | Sensex, Nifty50 off day’s lows amid volatility

Here are some highlights:

–Banking stocks a major drag on headline indices

–Barring Federal Bank, all Nifty Bank constituents slide

–Broder markets underperform headline indices

–UPL slips 4 percent from day’s high as 2022-23 guidance shows growth below 2021-22 level

–Select IT stocks rise as rupee depreciates vs dollar

–HCL Tech, Infosys rise two percent

–Mindtree, L&T Infotech under pressure after merger announcement

–Commodity stocks continue to lose momentum as prices fall globally

–Tata Power among top midcap losers following weak quarterly performance

–Indus Towers, Federal Bank, ABB, Dalmia Bharat top midcap gainers

–NSE advance-decline ratio at 2:7

Don’t look at market over next 3-6 months: Kotak AMC’s Harish Krishnan

Harish Krishnan, EVP and Senior Equity Fund Manager in the AMC Box, suggested focusing on what had changed structurally for India. “We tend to get out of the position of strength, which is the underlying our overall optimistic attitude to increase the exposure of equity … we are still only about 43 percent invested, but we will look for further decline in the market to increase further to increase further to improve Our exposure, “he said.