Overnight Digest: Stocks likely to be in focus on May 19
India VIX plunged 1.97 per cent to close at 22.3
On Wednesday, in the final hour of the trading session, the benchmark indices were trading marginally lower. Underpinned by pharma and FMCG stocks, the domestic market was on a steady run in the first half of the trading session. The UK market opened lower as the sentiment was disturbed by rising retail inflation numbers and cautiousness of sharper rate hikes.
Sensex ended 109.94 points or 0.20 per cent at 54,208.53 level while Nifty was down by 19 points or 0.12 per cent at 16,240.30 level. Tata Consumer Products, Shree Cement, UltraTech Cement, Cipla, and HUL became the top Nifty gainers. However, losers comprised Power Grid Corporation, BPCL, Apollo Hospitals, Tata Motors, and Tech Mahindra.
In the broader markets, BSE Midcap index ended on a flat note while BSE Smallcap index gained 0.3 per cent. The Top Gainers of the Mid-Cap index were Ruchi Soya Industries, Adani Power, CRISIL, Yes Bank and PI Industries whereas the top gainers of the small-cap index included Orient Bell, Sudarshan Chemicals, Wockhardt Pharma, National Fertilisers, and Datamatics Global Services.
On the sectoral front, buying was seen in the FMCG and pharma while selling was seen in the bank, capital goods, realty, IT, metal, PSU Bank, and oil & gas indices.
Watch out for these stocks for Thursday's trading session -
Dr Lal PathLabs - For Q4FY22, the company recorded a 14 per cent dip on a YoY basis in consolidated net profit, reaching Rs 72.9 crore in Q4FY22 as against a profit of Rs 85.1 crore posted in Q4FY21. The operating revenue improved 12.7 per cent on a YoY basis in Q4FY22, standing at Rs 485.5 crore from Rs 431.0 crore registered a year ago. EBITDA margins squeezed 630 basis points to 19.4 per cent from 25.7 per cent in Q4FY21. Reacting to the dim Q4FY22 results, the stock slipped more than 7 per cent during the first half of Wednesday's trading session. The stock has declined around 23 per cent as compared to a 6 per cent fall in BSE Sensex in the past one month.
Mangalore Refinery & Petrochemicals Ltd (MRPL) -It caught attention on Wednesday after soaring 10 per cent in an otherwise steady market. The shares have touched their three-year high price of Rs 89.25 per share. In only four trading sessions, the stock has zoomed around 34 per cent on reporting robust earnings for March 2022 quarter. On the daily chart, it has given a positive breakout in terms of RSI as well as MACD indicators. The stock has also broken its current resistance level during Wednesday's trading session.
Tata Communications - The company announced the launch of DIGO, an in-network, cloud communications platform to power up customer engagement for digital-first businesses. The platform offers a full suite of device-agnostic communications tools to seamlessly integrate into an enterprise's current applications, enabling it to bring intelligent, 360-degree human-to-everything (H2X) interactions to its users. This newly-launched DIGO offers businesses, an extensive range of cutting-edge customer engagement tools delivered on the most-connected network coverage. The share of Tata Communications traded weak during the trading session. It ended 2.17 per cent lower on Wednesday.
Ruchi Soya Industries- The company has entered into an agreement with Patanjali Ayurved Limited (PAL) to acquire its food retail business comprising manufacturing, packaging, labelling & retail trading of certain food products, along with manufacturing plants located at Padartha (Uttarakhand) and Newasa (Maharashtra), subject to the approval of shareholders as well as other authorities. Post-acquisition, the name of 'Ruchi Soya Industries Limited' will change to 'Patanjali Foods Limited'. Reacting to the news, the stock froze in upper circuit towards the end of the trading session, gaining 10 per cent on Wednesday.