Overnight Digest: Stocks to watch out for on October 25

Domestic equity markets opened higher on Friday, attempting to recoup some of the losses suffered earlier this week but ended lower for the fourth straight session on October 22.

Sensex plunged 0.17 per cent whereas Nifty plunged 0.35 per cent, erasing the bullish sentiment witnessed in the first half of the trading session. About 1205 shares have advanced, 1865 shares declined, and 119 shares are unchanged. 

HDFC Bank, Bajaj Auto, IndusInd Bank and Kotak Mahindra Bank were among the top Sensex gainers whereas ITC, Maruti Suzuki, Infosys and NTPC were among the top Sensex losers.

On the sectoral front, IT, metal, pharma, FMCG declined 1-3 per cent whereas, in broader markets, BSE midcap and smallcap fell 1 per cent each.

Following stocks are likely to be on the watchlist in Monday's trading session:

Polycab India - The company announced its consolidated results for the second quarter and half year ended September 30, 2021. The company's healthy quarter and robust sales growth were underpinned by market share gains across categories. For Q2FY22, revenue grew 48 per cent YoY to Rs 3,128.8 crore whereas PBT declined 8 per cent on a YoY basis. The net cash position improved 27 per cent as compared to the corresponding quarter in the previous year. The share of Polycab India has zoomed 2.75 per cent despite selling pressure in the equity markets.

Brigade Enterprises - The stock has outperformed the equity markets and advanced 5.94 per cent in Friday's trading session. With no strong news on the fundamental side, on the charts, the stock has formed a green candle after a series of red candles formed in a few of the previous trading sessions. The RSI is on the verge of a positive breakout, due to which the stock may attract the attention of investors in Monday's trading session. 

Bullish Moving Average Crossover: The shares of Ircon International, Equitas Small Finance Bank, Himadri Specialty Chemicals, RBL Bank and ABB Infra outperformed on Friday, on closing basis. These shares saw a bullish moving average crossover on Friday and will be watched with a bullish perspective in next week's trading sessions. 

Bullish Stochastic Crossover: Wabco India, Sundaram Clayton, Radico Khaitan, Swan Energy and Sriram transport finance saw a bullish stochastic crossover on Friday. These shares will be viewed with bullish perspective next week.