Overnight Digest: Stocks likely to be in focus on April 19

Among the fertiliser stocks, the top stocks were Zuari Agro Chemicals, Madras Fertlisers, Chambal Fertilisers & Chemicals, Nagarjuna Fertilisers, and Indra Industries gaining up to 13 per cent

On Monday, the benchmark indices opened on a weak note in line with global markets. The Quarterly Results of HDFC Bank and Infosys lowered the investors’ sentiments and together comprised 500 points of the market plunge.  

BSE Sensex tumbled nearly 1,500 points to hit a low of 56,842. Erasing the losses towards the end of the trading session, it settled at the 57,167 level, down by 1,172 points or 2 per cent. Nifty50 fell about 400 points, slipping below the 17,100-mark and ended at 17,174, 302 points or 1.7 per cent lower. 

In the broader markets, BSE Midcap and Smallcap indices descended about 1 per cent each. On the sectoral front, the IT index plunged 4.7 per cent while realty and bank indices slipped 1 per cent each. However, buying was seen in the auto, metal, FMCG, and power stocks. 

Keep these stocks on your radar for Tuesday's trading session: 

Infosys - The shares of this IT major tanked 9 per cent to Rs 1,592.05 during Monday's trading session after the company reported a weak set of numbers for Q4FY22. In Q4FY22, the company's EBIT margin contracted 190 basis points on a QoQ basis to 21.6 per cent due to lesser days, less utilisation, and higher visa costs. The company's revenue in US dollar terms rose by 0.7 per cent on a QoQ basis to $4,280 million and was up by 1.2 per cent QoQ in constant currency (CC) terms. The stock saw the sharpest intraday fall in the last two years.  

NTPC - In an otherwise weak market, the shares of NTPC touched over a two-year high of Rs 163.10, post gaining 6 per cent. The stock traded at its highest level since October 2018. NTPC has been an outperformer in the past one month in the market by soaring 22 per cent in view of strong power demand. In comparison, the benchmark index was down by 1.3 per cent. The share has closed 6.04 per cent higher at Rs 163.2 per share.  

Fertiliser stocks - The fertiliser stocks are in news on Monday due to talks that global supply disruptions, higher raw material prices, and low inventory can create a scarcity of phosphatic & potassic fertilisers in the upcoming Kharif season. Also, the Ukraine-Russia conflict has hit around 15 per cent of global seaborne ammonia trade (coming out of Black Sea) thereby, leading to a rise in prices. Among the fertiliser stocks, the top stocks were Zuari Agro Chemicals, Madras Fertlisers, Chambal Fertilisers & Chemicals, Nagarjuna Fertilisers, and Indra Industries gaining up to 13 per cent. 

Axis Bank - The share of Axis Bank has outperformed the banking stocks on Monday. While the other banking stocks were trading on a weaker note and closed lower, Axis Bank has closed in green, higher by 0.88 per cent. The stock has managed to beat Nifty Bank index, which plunged 1.8 per cent during Monday's trading session. Also, the stock has formed a bullish Marubozu candle on the charts, indicating a bullish closing. Keep a close watch on this stock for further trading sessions.