Overnight Digest: Stocks likely to be in focus on March 07
Titan Company, Maruti Suzuki, Asian Paints, Hero MotoCorp and Tata Motors were among the top Nifty losers. On the other hand, Dr Reddy's Laboratories, ITC, Tech Mahindra, Sun Pharma and UltraTech Cement were the biggest gainers.
Global indices are experiencing a sharp sell-off as reports of the Russian attack on Europe’s biggest nuclear plant in Ukraine kept tension levels on the higher side.
Following the global cues, the domestic benchmark indices also traded with caution. At close, the Sensex is down 768.87 points or 1.40 per cent at 54,333.81 level, and the Nifty was down 252.60 points or 1.53 per cent at 16,245.40 level.
On the sectoral front, except IT all other indices ended in the red with auto, metals, power, capital goods, realty down over 2-3 per cent. In the broader markets, BSE midcap index shed 2.3 per cent and smallcap index fell 1.6 per cent.
Keep these stocks on your radar for Monday's trading session :
Asian Paints - The shares of the paint company were down 6 per cent at Rs 2,692.75 on the BSE in Friday’s intra-day trade, slipping up to 15 per cent in last three trading sessions on margin concerns due to increasing crude oil prices. The stock has hit its lowest level since March 2021. On the charts, the RSI, as well as MACD indicators, are indicating a bearish trend and the stock is also trading below its 50 DMA keeping a wide margin.
ITC - The shares of cigarettes-to-hotels major ITC traded 2 per cent higher at Rs 223 in Friday’s weak trading session. The stock has gained 7 per cent in the past five trading days. On the charts, the stock is on the verge of a MACD crossover and the RSI is also indicating a bullish trend. The stock has crossed its 50 DMA in Friday's trading session and is likely to be in focus on Monday.
Vedanta - The company's shares were trading lower by 2 per cent on Friday in line with market sentiment after Societe Generale sold shares in the company via open market transactions. France-based financial services company Societe Generale on March 3 sold 2.24 crore shares amounting to 0.6 per cent of metal major Vedanta at an average price of Rs 391.74 for nearly Rs 880 crore. Keep a watch on this stock on Monday.
52-week high stocks - From the BSE 200 index, the shares of Adani Transmission and Hindalco Industries have hit fresh 52-week highs amid a weaker trading session for equity markets on Friday.