Stock Market Update: Here we get you all the top latest updates from the market that made

It's about 100 point knock coming through on the Nifty as we speak. Zero 6% down on the Nifty. The sunset is lower by 376. Banks have underperformed today. The Nifty Banking index is down close to more than a percent.

One 2% hello and welcome. You're watching Markets Today, the show where we track these headlines and the trading actions in just five headlines. I'm Sony Bouta and these are the top headlines that we are tracking for you. Stock markets wobble across the globe and we saw that the US inflation data is due later today. Census loses over 400 points, nitty loses over 100 points and the Rupee remains on a tight leash against the dollar. Infuses largely meteorites in the second quarter raise the full-year guidance for revenue and margin also clears a 9300 crore rupee. Buyback Hindalco and Nalco firm up on reports that the US maker aluminum imports in Russia even has concerns over a global slowdown. Right, the Centre clears a total compensation of 220 crowd rupees for all marketing companies towards losses on LPG sales. In a reprieve for all these companies, the move will only trim and not stem losses say endless in stocks and news, Ronnie Wilmark pals 3% on a week second quarter update for Sterling and Wilson falls on a week's second quarter. Here's the line of what we have in store for you. It's a Pac show.

Today, in Market Opinion, we have Mahesh Patel of Adelaide AMC and Dan Pamela of Credit Suisse. And in big corporate voices, we have Theory de la Pote, the CEO of Vipro and CBJ. Kumar, MD and CEO of A. C. OTC, and Sally, the parliament of CEO and MD of emphasis. All right. The market sees cuts ahead of crucial economic data from the US Nicotine Centre, and over half a percent lower, with banks being the biggest losers. Rima Thundercat is here with all the market action. Rima.

Thanks so much for that. It turned out to be a volatile session of trade. The street is clearly nervous ahead of the all-important US CPI print. It was also the weekly options expiry. Just look at the intraday chart. At multiple times throughout the day the market sold off, they tested at 17,000. Mark went down to the 200-day moving average. The sense you got is that they're reluctant to break down, but it's also finding itself very difficult to climb higher and move up. The low today is very important. It's 16,957. It coincides with the load of the markets made over the last two days so that level is going to be very important broadly. We still continue to hold on to that range of 16 950 on the way down to about 17 300 on the way up. The midcap index is under pressure. The advanced ignite ratio week one stock in the green for nearly two in the red. It was a lot about it and it was a tale of two cities. Whipper, on one hand, ends with a cut of 7% as the street is disappointed by its Q Three guidance, the lack of recovery in its margins, and the fact that the deal wins were also fairly muted in the current quarter.

ACL Tech on the other hand a very strong comeback and all round bait. And the street rewarded the shareholders of HCL Tech banks that underperformed so the Nifty banking index ended with a cut of more than a percent. State bank of India, ICSA Bank, HDFC Bank, and HDFC bank, by the way, reports numbers on Saturday's axis bank amongst the large cap private banks, Axis Bank saw a smaller cut ends with a cut of close to about a half-odd percent. CLSA today raised the target price to about 1100. A couple of the other big winners include some farmer auto names like Tara Motors and Aisha Motors. Britannia Two saw some buying on the losing side in the midcap space cement India Cement saw a lot of selling pressure. India Hotels Two was weakened, trade was on the gaining side Nalco was a big mover. Ad Money posts their numbers rights pear order wins boosting the prospects of these.

Stocks rima, thank you so much for joining us for that analysis, and here's some expert opinion for you now. Moishe's partner's CIO father Thavella SunLife AMC said that they are positive on certain public sector banks which have better capital adequacy ratios. He added that their view on the auto space is neutral as the valuations in the sector are slightly on the highest side.

Isn't it normally the PSU banks are more exposed to corporate credit and there we see that it's looking very benign. Cycle lot of corporates have a delivery in the last two or three years and the Banksy is much stronger.

And they are in a position now to really start leveraging further. So given that, I think the larger PSU banks and the better PSU banks, I think they should also do well. So we are also positive on some of the select PSU banks where we see the capital added question, which is good, where the Ros is improving. But for the longer term, our preference still remains with the private sector banks which have bought retail for the US. Autos. We are outlook is improving, no doubt about that. We've seen the volume pick up, especially in the four years we are so that's doing well. Even factors in other sectors are doing well. Commercial vehicles, after two, or three years of downturn, we are seeing that pick up slowly with the back of an improving economy. So overall the outlook is definitely looking good. But I think our view of the sector is actually neutral because the stocks are rallied. Some of these valuations are probably slightly on the highest side.

Okay, let's get in some more opinions than Feynman. Co-head of equity strategy. Asia Pacific of Crisis said that interest rates are expected to stay high next year as well. In India, he noted that the balance of payments and overvaluation of the currency are the key challenges, but the economy as a whole is doing better compared to the US. Take a look.

The problem in the US. As everyone knows, the Fed is going to have to be raising rates. We're concerned that markets are still a bit too optimistic about what happens in 2023. I think people are prepared for this year, but we aren't expecting a pivot for the Fed to start cutting rates next year. We think that rates will stay high next year. India, we have some problems. We have a balance of payments challenge. The currency is probably overvalued, but the economy is doing much better than what we will be getting from the US. There is EPS risk, but I'd say less than in the US. PE of India relative to global equities, relative to Asian equities, at an all-time high. We're in uncharted territory and that makes our foreign clients feel uncomfortable.

Okay, that is the market opinion, but we have to go to the second headline now, where infuses largely met estimates in the second quarter, the company has raised the full-year guidance for revenue and margin and also cleared a 9300 Korea Rupee buyback. Reema is here with the details.

Sokoto is a mixed performance revenue that misread expectations. It's a 4% constant currency revenue growth, but margin expansion has come in as a big surprise. Margins have gone up by 150 basis points to 21 5%. The FY 23 guidance has been tightened. So on the top line earlier the company was expecting a 14% to 16% growth. Now they're expecting 15% to 16%, which means at the lower end, the company has raised the guidance by 100 basis points. This is positive margin guidance in a way, has been brought lower. Now they're saying the margins will be in a band of 21% to 22%. This doesn't come as a surprise because anyway, the margin guidance earlier was that we will be at the lower end of our guidance, which means closer to 21%. The big positive in the numbers is the deal wins. Deal wins have gone up to two $7 billion. This compares with a four-quarter average of two $1 billion. So there's a sharp pickup that we've seen in deals. Attrition has moderated for the third quarter in a row. In the management commentary, the management has spoken about concerns surrounding high-tech and telecom.

These are two new areas that enforce. Management has called out where they are seeing growth moderating. That said, the relevance of their proposition in terms of bringing transformation of cost efficiency stay, which is why they're seeing a very strong large deal pipeline. They've also announced a buyback, a 9300 core open market buyback at a maximum price of 1850. All in all, it's a good showing from enforcers and the streets.